Cboe EDGA Exchange Increases Price Levels for Market Data Feeds
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The Cboe EDGA Exchange is expanding its market data feeds to include more price levels. The change increases the price levels in their Summary Depth and Cboe One Premium feeds from five levels to twelve, giving market participants better insight into market liquidity. This update means existing five-level feeds will phase out by the end of 2026, and users will need to prepare their systems to accommodate the new data format.
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Key Changes
- Increase in aggregated depth-of-book price levels from five to twelve
- The five-level data feeds will be phased out by the end of 2026
- Market participants need to update systems for new twelve-level data format
Obligations
What this law requires
Amend Rule 13.8(f) to increase EDGA Summary Depth Data Feed from five (5) to twelve (12) aggregated depth-of-book price levels per side
Amend Rule 13.8(b)(i) to offer twelve (12) price levels for Cboe One Premium Data Feed in addition to existing five (5) price levels during transition period
Sunset the five (5) level feed for Cboe One Premium by December 31, 2026, with specific date to be announced via Exchange Notice
Provide market participants with advance notice via Exchange Notice of the sunset date for the five (5) level Cboe One Premium feed
Define Cboe One Summary Data Feed and Cboe One Premium Data Feed within rule text to clarify these different feeds