Cboe Exchange, Inc. Rule Amendment for Listing Binary Options During Global and Curb Trading Hours
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This rule change allows the Cboe Exchange to list binary options on specific index options during extended trading hours. It opens up the market for these financial instruments during Global Trading Hours and Curb Trading Hours, giving investors broader access to trade these products outside regular trading times. The change mainly impacts trading firms and investors interested in broader market participation.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Allows listing of binary options during Global Trading Hours and Curb Trading Hours
- Extends market access for trading index-based binary options
- Synchronizes binary options trading with existing trading hours for index options
Obligations
What this law requires
Cboe Exchange must amend Rule 5.1(c) to permit listing of binary options on exclusively listed index options designated for trading under Chapter 4, Section B during Global Trading Hours (GTH)
Cboe Exchange must amend Rule 5.1(d) to permit listing of binary options on exclusively listed index options designated for trading under Chapter 4, Section B during Curb Trading Hours
When Cboe Exchange designates a class of index options as eligible for GTH or Curb trading, binary options with the same underlying index must be automatically deemed eligible for the same extended hours
Cboe Exchange must monitor trading volume associated with binary options series listed under this rule change and the effect on market fragmentation and capacity of the Exchange's automated systems
Cboe Exchange must ensure it has necessary system capacity to handle additional traffic associated with trading of binary options on exclusively listed index options during GTH and Curb, as analyzed and represented by the Exchange