Securities and Exchange Commission
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-105978; File No. SR-CboeBZX-2026-004] July 23, 2026. I. Introduction On January 8, 2026, Cboe BZX Exchange, Inc. (“Exchange” or “BZX”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”)  [ 1 ] and Rule 19b-4 thereunder, [ 2 ] a proposed rule change to amend the Opening Auction Process provided under Rule 11.23(b)(2)(B) to delay the Opening Auction under certain market conditions in order to improve price discovery and allow executions to occur at prices that better reflect current market conditions. The proposed rule change was published for comment in the Federal Register on January 27, 2026. [ 3 ] On March 11, 2026, pursuant to Section 19(b)(2) of the Act, [ 4 ] the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change. [ 5 ] On April 27, 2026, the Commission instituted proceedings under Section 19(b)(2)(B) of the Act to determine whether to approve or disapprove the proposed rule change. [ 6 ] On July 10, 2026, the Exchange filed Amendment No. 1 to the proposed rule change. [ 7 ] The Commission has received no comments regarding the proposed rule change. The Commission is publishing this Notice and Order to solicit comment on …
Citation: 91 FR 47284
