UNITED STATES: CBOE EDGX Equities Exchange to Introduce Early Trading Hours

Tuesday February 9 2021

On 8^th February 2021, Cboe Global Markets, Inc. (Cboe: CBOE) announced that it plans to introduce early trading on Cboe EDGX Equities Exchange beginning at 4:00 a.m. ET, with order acceptance beginning at 3:30 a.m. ET,  starting Monday, March 8, pending regulatory approval.

Currently, Cboe EDGX commences its early trading session at 7:00 a.m. ET and begins accepting orders at 6:00 a.m. ET. The move to expand early trading hours on Cboe EDGX, beginning March 8, aims to meet growing customer demand particularly among retail investors throughout the world, who seek to execute their trading strategies on Cboe’s U.S. equities markets during global trading hours.

Cboe EDGX averaging 705 million shares traded per day in 2020. The Exchange aims to cater to a broad set of market participants and offers innovative product offerings that are tailored to their various trading needs. In particular, Cboe’s Retail Priority offering is designed to enhance execution quality for the growing retail customer base, which now comprises approximately 50 per cent of monthly trading volumes on Cboe EDGX.

To support early trading on Cboe EDGX, the startup time for Cboe EDGX market data feeds as well as the Cboe One Feed is also planned to be updated to occur between 2:40 and 2:50 a.m. ET, beginning March 8. Cboe One Feed, available to customers globally, provides cost-effective, high quality, real-time U.S. equities reference quote and trade information from all four of Cboe’s U.S. equities exchanges: BZX Exchange, BYX Exchange, EDGX Exchange and EDGA Exchange. Cboe One Feed disseminates quotes that in 2020 have been, on average, within 1 per cent of the National Best Bid and Offer (NBBO) more than 98 per cent of the time.

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