Extension of Review Period for Cboe DPM Appointments

Regs.gov: Securities and Exchange Commission

Published March 25th, 2026

Detected March 31st, 2026

Summary

The SEC issued an order on March 25, 2026, extending its review period for Cboe Exchange's proposed rule change (SR-CBOE-2026-016) regarding Designated Primary Market-Maker appointments across multiple trading sessions. The extension pushes the SEC's decision deadline to May 14, 2026. The original proposed rule change was published February 13, 2026, and no public comments were received.

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What changed

The SEC issued an order on March 25, 2026, extending the review period for Cboe Exchange's proposed rule change (SR-CBOE-2026-016) to designate May 14, 2026, as the date for SEC action. The underlying Cboe proposal would allow Designated Primary Market-Makers (DPMs) to be appointed to Global Trading Hours and Curb Trading Hours sessions, potentially different from or the same as the DPMs for Regular Trading Hours. The proposal also addresses DPM obligations and participation entitlements for these additional sessions.

This extension is an administrative action that does not impose new obligations on regulated entities. Cboe and other market participants need take no specific action at this time but should monitor whether the SEC approves the proposed rule change by May 14, 2026.

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Content

March 25, 2026. On January 30, 2026, Cboe Exchange, Inc. 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 (1) allow the Exchange to appoint Designated Primary Market-Makers (“DPMs”) to Global Trading Hours
(“GTH”) and Curb Trading Hours (“Curb”) sessions, which DPMs may be the same across multiple trading sessions or different
(or no DPM) for an option class in Regular Trading Hours, GTH, and/or Curb sessions; (2) provide that DPM obligations and
participation entitlements will apply to GTH and Curb sessions; and (3) make certain administrative changes. The proposed
rule change was published for comment in the
Federal Register
on February 13, 2026. (3)

Section 19(b)(2) of the Act (4) provides that within 45 days of the publication of notice of the filing of a proposed rule change, or within such longer period
up to 90 days as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for
so finding or as to which the self-regulatory organization consents, the Commission shall either approve the proposed rule
change, disapprove the proposed rule change, or institute proceedings to determine whether the proposed rule change should
be disapproved. The 45th day after publication of the notice for this proposed rule change is March 30, 2026. The Commission
is extending this 45-day time period.

The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so
that it has sufficient time to consider the proposed rule change and the issues raised therein. Accordingly, the Commission,
pursuant to Section 19(b)(2) of the Act, (5) designates May 14, 2026, as the date by which the Commission shall either approve or disapprove, or institute proceedings
to determine whether to disapprove, the proposed rule change (File No. SR-CBOE-2026-016).

For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. (6)

Sherry R. Haywood, Assistant Secretary. [FR Doc. 2026-06041 Filed 3-27-26; 8:45 am] BILLING CODE 8011-01-P

Footnotes

(1) 15 U.S.C. 78s(b)(1).

(2) 17 CFR 240.19b-4.

(3) See Securities Exchange Act Release No. 104807 (Feb. 10, 2026), 91 FR 6966. The Commission has received no comment letters on
the proposed rule change.

(4) 15 U.S.C. 78s(b)(2).

(5) 15 U.S.C. 78s(b)(2).

(6) 17 CFR 200.30-3(a)(31).