On January 23, the Chicago Board Options Exchange (CBOE) proposed rule changes that would amend order ticket requirements for certain orders under CBOE Rules 6.53 and 24.20. Specifically, the proposed amendment to CBOE Rule 6.53 would require complex orders of 12 legs or less to be entered on a single order ticket at the time of systemization. Complex orders of more than 12 legs may be split across multiple order tickets as long as the Trading Permit Holder (TPH) entering the order includes 12 legs on one of the order tickets and identifies to the CBOE order tickets that are part of the same order. In addition, the proposed amendment to CBOE Rule 24.20 would require a single order ticket at the time of systemization for an SPX combo order of 12 legs or less. An SPX combo order containing more than 12 legs may be represented or executed as a single SPX combo order if it is divided among multiple order tickets and the TPH representing the SPX combo order includes 12 legs on one of the order tickets and identifies to the CBOE the order tickets that are part of the same SPX combo order.
Interested persons may submit comments on these proposed rule changes to the Securities and Exchange Commission until February 19.
The notice of filing is available here.