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[Release No. 34-106322; File No. SR-CboeBZX-2026-070]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and

Immediate Effectiveness of a Proposed Rule Change to Amend Exchange Rules 11.1(a),

11.9(b), 11.23, and 11.24 to Add a New Time-in-Force Designation Known as “Regular

‘til Post Market”

September 10, 2026.

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the “Act”),1 and Rule

19b-4 thereunder,2 notice is hereby given that on August 28, 2026, Cboe BZX Exchange, Inc. (the

“Exchange” or “BZX”) filed with the Securities and Exchange Commission (the “Commission”)

the proposed rule change as described in Items I and II below, which Items have been prepared

by the self-regulatory organization. The Commission is publishing this notice to solicit

comments on the proposed rule change from interested persons.

Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed

Rule Change

Cboe BZX Exchange, Inc. (“BZX” or the “Exchange”) proposes to amend Exchange

Rules 11.1(a), 11.9(b), 11.23, and 11.24 to add a new Time-in-Force (“TIF”) designation known

as “Regular ‘til Post Market” (“RTP”). The Exchange has designated the proposed rule change

as noncontroversial and provided the Commission with the notice required by Rule 19b4(f)(6)(iii) under the Act.3 The text of the proposed rule change is provided in Exhibit 5.

The text of the proposed rule change is also available on the Commission’s website

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

17 CFR 240.19b-4.

17 CFR 240.19b-4(f)(6)(iii).

(https://www.sec.gov/rules/sro.shtml), the Exchange’s website

(https://www.cboe.com/us/equities/regulation/rule_filings/bzx/), and at the principal office of the

Exchange.

II.

Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the

Proposed Rule Change

In its filing with the Commission, the Exchange included statements concerning the

purpose of and basis for the proposed rule change and discussed any comments it received on the

proposed rule change. The text of these statements may be examined at the places specified in

Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of

the most significant aspects of such statements.

Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis

for, the Proposed Rule Change

Purpose

The Exchange proposes to amend Rule 11.9(b) (“Time-in-Force”) to add a new TIF

designation known as “Regular ‘til Post Market” or “RTP.” As proposed, an RTP order would be

a limit order designated for execution during both Regular Trading Hours4 and the After Hours

Trading Session,5 with any unexecuted portion expiring at the end of the After Hours Trading

Session. In connection with the introduction of the RTP TIF, the Exchange also proposes

conforming amendments to Rules 11.1(a), 11.23, and 11.24 to reflect the availability of the RTP

TIF across the Exchange’s order handling, auction, and opening process rules.

Currently, Rule 11.9(b) provides Users6 with the following TIF options for order entry.

See Exchange Rule 1.5(w). “Regular Trading Hours” means the time between 9:30 a.m. and 4:00 p.m.

Eastern Time.

See Exchange Rule 1.5(c). The term “After Hours Trading Session” shall mean the time between 4:00 p.m.

and 8:00 p.m. Eastern Time.

See Exchange Rule 1.5(cc). “User” is defined as “any Member or Sponsored Participant who is authorized

An “Immediate-or-Cancel” (“IOC”) order 7 is a limit order designated for immediate execution.

Any unexecuted portion of an IOC order is cancelled. A “Day” order 8 is a limit order designated

for execution only during Regular Trading Hours on the day it is entered. A “Good ‘til Cancel”

(“GTC”) order9 is a limit order which, if not executed, will be cancelled by the close of Regular

Trading Hours. A “Good ‘til Day” (“GTD”) order 10 is a limit order which, if not executed, will

be cancelled at the expiration time assigned to the order, which can be no later than the close of

the After Hours Trading Session. A “Good ‘til Extended Day” (“GTX”) order 11 is a limit order

which, if not executed, will be cancelled by the close of the After Hours Trading Session. A

“Fill-or-Kill” (“FOK”) order 12 is a limit order designated for immediate execution in its entirety

or cancellation as soon as it is received by the Exchange. A “Regular Hours Only” (“RHO”)

order13 is a limit or market order designated for execution during Regular Trading Hours only. A

“Pre-Opening Session Plus” (“PRE”) order 14 is a limit order designated for execution only

during the Pre-Opening Session15 and Regular Trading Hours. Any portion not executed expires

at the end of Regular Trading Hours. A “Pre-Opening Session ‘til Extended Day” (“PTX”)

to obtain access to the System pursuant to Rule 11.3.” The “System” is “the electronic communications and

trading facility designated by the Board through which securities orders of Users are consolidated for

ranking, execution and, when applicable, routing away.” See Exchange Rule 1.5(aa). The term “Member”

means any registered broker or dealer that has been admitted to membership in the Exchange. See

Exchange Rule 1.5(n).

See Exchange Rule 11.9(b)(1).

See Exchange Rule 11.9(b)(2).

See Exchange Rule 11.9(b)(3).

See Exchange Rule 11.9(b)(4).

See Exchange Rule 11.9(b)(5).

See Exchange Rule 11.9(b)(6).

See Exchange Rule 11.9(b)(7).

See Exchange Rule 11.9(b)(8).

See Exchange Rule 1.5(r). The term “Pre-Opening Session” shall mean the time between 8:00 a.m. and

9:30 a.m. Eastern Time.

order16 is a limit order designated for execution during the Pre-Opening Session, Regular

Trading Hours, and the After Hours Trading Session. Any portion not executed expires at the

end of the After Hours Trading Session. A “Pre-Opening Session ‘til Day” order 17 is a limit

order designated for execution during the Pre-Opening Session, Regular Trading Hours, and the

After Hours Trading Session. Any portion not executed will be cancelled at the expiration time

assigned to the order, which can be no later than the close of the After Hours Trading Session.

While BZX currently offers a wide range of TIF designations, the Exchange does not presently

offer a TIF that specifically combines Regular Trading Hours with the After Hours Trading

Session in a single, dedicated designation.

Against this backdrop, the Exchange proposes to introduce the RTP TIF as a new,

dedicated TIF option on BZX. As proposed, the RTP TIF would permit a User to submit a single

limit order that is eligible for execution during Regular Trading Hours and that, if not fully

executed during Regular Trading Hours, would remain active and eligible for execution during

the After Hours Trading Session. Any portion of an RTP order not executed by the end of the

After Hours Trading Session would expire. An RTP order may be modified or cancelled in

accordance with Rule 11.9(e) and order priority will be determined pursuant to Rule 11.12(a),

just as is the case for RHO orders currently. The Exchange believes that adding the RTP TIF to

its suite of available TIF designations in Rule 11.9(b) would provide Users with a convenient,

single-instruction mechanism to participate in both Regular Trading Hours and the After Hours

Trading Session without the need to submit separate orders for each session.

In connection with the introduction of the RTP TIF, the Exchange also proposes to

See Exchange Rule 11.9(b)(9).

See Exchange Rule 11.9(b)(10).

amend Rule 11.1(a) (“Hours of Trading and Trading Days”) to add RTP to the list of TIF

designations that are subject to restrictions on order entry prior to 7:00 a.m. Eastern Time. Rule

11.1(a) currently provides that the Exchange will not accept, prior to 7:00 a.m. Eastern Time,

among other orders, Minimum Quantity Orders that also include a Time in Force of Regular

Hours Only.18 Because an RTP order, like an RHO order, is designed for execution during

Regular Trading Hours (and, in the case of RTP, extending into the After Hours Trading

Session), the Exchange proposes to add RTP to this restriction so that Minimum Quantity Orders

that also include a Time in Force of RTP will also not be accepted prior to 7:00 a.m. Eastern

Time. This proposed change is consistent with the treatment of RHO orders and ensures that

orders combining the Minimum Quantity condition with the RTP TIF are not entered into the

System during the pre-7:00 a.m. period before the applicable trading sessions for such orders

have commenced. The Exchange also proposes a technical, non-substantive correction to Rule

11.1(a) to capitalize “Start” in the reference to the start time at which orders become eligible for

execution in the Early Trading Session, 19 consistent with the capitalized usage of “4:00 a.m.

Start” and “7:00 a.m. Start” earlier in the paragraph. The Exchange further proposes to amend

the pre-open order acceptance restriction in Rule 11.1(a) to provide that the enumerated order

types will not be accepted prior to 4:00 a.m. Eastern Time, or prior to 7:00 a.m. Eastern Time for

orders eligible for a 7:00 a.m. Start, rather than solely prior to 7:00 a.m. Eastern Time. This

clarification conforms the restriction to the 4:00 a.m. Start and 7:00 a.m. Start framework set

forth earlier in the paragraph and to the parallel provision of the rules of the Exchange’s affiliate,

See Exchange Rule 11.1(a). Rule 11.1(a) provides in part that the Exchange will not accept Minimum

Quantity Orders that also include a Time in Force of Regular Hours Only prior to 7:00 a.m. Eastern Time.

See Exchange Rule 1.5(ff). The term “Early Trading Session” shall mean the time between 4:00 a.m. and

8:00 a.m. Eastern Time.

Cboe EDGX Exchange, Inc. 20

The Exchange also proposes to amend the definition of “Eligible Auction Order” in Rule

11.23(a)(8) to add RTP orders as a category of order eligible to participate in Opening Auctions

and Closing Auctions, alongside existing RHO orders.21 As proposed, any RTP order submitted

prior to the Opening Auction would constitute an Eligible Auction Order in the same manner as

an RHO order. This change reflects that an RTP order, which is designated for execution

beginning at the commencement of Regular Trading Hours, is appropriately treated as an

Eligible Auction Order for purposes of the Opening Auction and Closing Auction. Because an

RTP order by definition is eligible for execution during Regular Trading Hours, it is appropriate

to permit such orders to participate in the auctions that mark the opening and closing of Regular

Trading Hours.

The Exchange proposes to amend Rules 11.23(b)(1)(A) and 11.23(b)(1)(B) to apply to

RTP orders the same pre-Opening Auction order entry and modification restrictions that

currently apply to RHO orders. 22, 23 Specifically, under the proposed amendments: (i) RTP orders

submitted between 9:28 a.m. and 9:30 a.m. Eastern Time will be treated as Late Limit On Open

(“LLOO”) orders until the Opening Auction has concluded; and (ii) RTP orders designated for

the Opening Auction may be modified, but not cancelled, between 9:28 a.m. and 9:30 a.m.

See EDGX Exchange Rule 11.1(a).

See Exchange Rule 11.23(a)(8). The term “Eligible Auction Order” currently means any MOO, LOO,

LLOO, MOC, LOC, or LLOC order entered in compliance with its respective cutoff for an Opening or

Closing Auction, any RHO order prior to the Opening Auction, and any limit or market order not

designated to exclusively participate in the Closing Auction entered during the Quote-Only Period of an

IPO Auction or Halt Auction.

See Exchange Rule 11.23(b)(1)(A). Currently, RHO market orders are rejected between 9:28 a.m. and 9:30

a.m. and RHO limit orders submitted during that window are treated as LLOO orders until the Opening

Auction has concluded.

See Exchange Rule 11.23(b)(1)(B). Currently, RHO limit orders designated for the Opening Auction may

be modified, but not cancelled, between 9:28 a.m. and 9:30 a.m.

Eastern Time, and any such modified RTP orders will be treated as LLOO orders until the

Opening Auction has concluded. These restrictions are consistent with the existing treatment of

RHO orders and reflect the Exchange’s determination that, because RTP orders are eligible for

execution beginning at the open of Regular Trading Hours, they should be subject to the same

order entry and modification limitations during the pre-Opening Auction that apply to RHO

orders.

The Exchange proposes to amend Rule 11.23(b)(2)(C)(i) to provide that RTP orders, like

RHO limit orders, will have equal priority with limit orders, LOO orders, and LLOO orders in

the second tier of Opening Auction execution priority.24 Because the RTP TIF encompasses

Regular Trading Hours—including the Opening Auction—it is appropriate to treat RTP orders

consistent with RHO orders for purposes of Opening Auction execution priority. RTP orders,

which are subject to a price limit, receive equal priority with other limit orders in the second tier.

The Exchange further proposes to amend Rule 11.23(b)(3)(B) to provide that unexecuted

RTP order shares, like unexecuted RHO order shares, will be added to the Continuous Book at

the conclusion of the Opening Auction, subject to the User’s instructions. 25 Consistent with the

existing treatment of RHO orders, the proposed amendment further provides that, where the

Opening Auction would have occurred at a price level but for such price level being outside the

Collar Price Range, buy (sell) RTP orders with a limit price more aggressive than the BZX

Official Opening Price that are not executed in the Opening Auction will be cancelled. This

See Exchange Rule 11.23(b)(2)(C) and Exchange Rule 11.23(b)(2)(C)(i). Currently, MOO and market

RHO orders have first priority in the Opening Auction, followed by limit orders, LOO orders, LLOO

orders, and limit RHO orders at equal priority.

See Exchange Rule 11.23(b)(3)(B). Currently, unexecuted RHO order shares are added to the Continuous

Book at the conclusion of the Opening Auction, subject to the User’s instructions, except that limit RHO

orders priced more aggressively than the BZX Official Opening Price that are not executed when the Collar

Price Range is triggered will be cancelled.

treatment is appropriate because RTP orders, like RHO orders, are designated for execution

during Regular Trading Hours, and the transition of unexecuted portions to the Continuous Book

is consistent with the intended operation of the RTP TIF.

The Exchange also proposes to amend Rule 11.23(c)(2)(C)(i) to provide that RTP orders,

like limit RHO orders, receive equal priority in the Closing Auction with limit orders, LOC

orders, and LLOC orders, after the execution of all MOC orders.26 This treatment is consistent

with how limit RHO orders are handled in the Closing Auction and reflects that RTP orders are

eligible for execution during Regular Trading Hours, of which the Closing Auction is a part.

The Exchange also proposes conforming amendments to Rule 11.24 (“Opening Process

for Non-BZX-Listed Securities”) to add RTP alongside RHO throughout that rule’s provisions

governing eligibility for and participation in the Opening Process and the Re-Opening Process.27

Specifically, the Exchange proposes to amend Rule 11.24(a) to provide that, prior to the

beginning of Regular Trading Hours, Users wishing to participate in the Opening Process for

non-BZX-listed securities may enter orders designated as either RHO or RTP. All existing

restrictions applicable to RHO orders in Rules 11.24(a)(1) and 11.24(a)(2) would apply equally

to RTP orders, including the restriction prohibiting BZX Post Only Orders, ISOs, and Minimum

Quantity Orders from participating in the Opening Process. The Exchange further proposes to

amend Rule 11.24(e)(1)(A) to provide that, consistent with RHO orders, non-RTP orders will be

eligible for participation in the Re-Opening Process following a halt, subject to the same

See Exchange Rule 11.23(c)(2)(C) and Exchange Rule 11.23(c)(2)(C)(i). Currently, limit RHO orders

receive equal priority with other limit orders, LOC orders, and LLOC orders in the Closing Auction after

all MOC orders have been executed.

See Exchange Rule 11.24(a). Currently, only orders designated as RHO are eligible to participate in the

Opening Process for non-BZX-listed securities prior to the beginning of Regular Trading Hours.

exceptions and limitations that currently apply to non-RHO orders.28 These amendments ensure

that the RTP TIF is integrated consistently into the Exchange’s opening and re-opening

processes for non-BZX-listed securities, on the same terms applicable to RHO orders.

Comparison to Other Exchange Times-in-Force

The Exchange has also considered how other national securities exchanges handle TIF

requirements for order entry when it comes to spanning the regular and after-hours trading

sessions. NYSE Arca’s trading rules provide for three trading sessions: the Early Trading

Session, the Core Trading Session, and the Late Trading Session.29 Under NYSE Arca’s

framework, orders entered into the NYSE Arca Marketplace must include a designation for

which trading session(s) the order will remain in effect. 30 An order is eligible to participate in the

designated trading session(s) only and may remain in effect for one or more consecutive trading

sessions on a particular day. 31 Orders may be accepted by the exchange that are not eligible to

trade until a later trading session begins.32 Thus, NYSE Arca offers comparable functionality as

proposed by the Exchange as it permits orders to be entered during its Early Trading Session that

are eligible to trade in both the Core Trading Session and the Late Trading Session, which is

analogous to the Exchange’s proposed RTP TIF.

Similarly, Nasdaq’s Time-in-Force framework, set forth in Nasdaq Equity Rule 4703(a),

See Exchange Rule 11.24(e)(1)(A). Currently, non-RHO orders are eligible for participation in the ReOpening Process, but IOC, FOK, BZX Post Only Orders, and Minimum Quantity Orders will be cancelled

or rejected, and ISOs that are not IOC or FOK will be converted.

See NYSE Arca Rule 7.34-E(a). NYSE Arca’s Early Trading Session runs from 4:00 a.m. to 9:30 a.m.

Eastern Time , its Core Trading Session runs from 9:30 a.m. to 4:00 p.m. Eastern Time, and its Late

Trading Session runs from the conclusion of the Core Trading Session until 8:00 p.m. Eastern Time. Under

Rule 7.34-E, all order types and modifiers defined in Rule 7.31-E that are designated for the Early Trading

Session are eligible to participate in the Early Trading Session, subject to certain order-type restrictions.

See NYSE Arca Rule 7.34-E(b)(1).

Id.

provides that the TIF assigned to an order designates the period of time that the Nasdaq Market

Center will hold the order for potential execution, with Participants specifying both a time at

which the order becomes active and a time at which the order ceases to be active. 33 Nasdaq does

refer to certain periods of times with explicit TIFs throughout its rulebook, including “IOC,”

“System Hours Day,” “System Hours Expire Time,” and, “Market Hours Day”, however these

terms are derived from the specific start and end times appended to orders, similar to the NYSE

Arca functionality described supra. As such, Nasdaq offers comparable functionality as proposed

by the Exchange but does so through the ability of orders to be entered with specific start and

end times as opposed to a specific TIF as proposed by the Exchange.

Implementation

The Exchange plans to implement the proposed rule change during the early fourth quarter of

2026 and will announce the implementation date via Trade Desk Notice.

Statutory Basis

The Exchange believes that the proposed rule change is consistent with Section 6(b) of

the Act,34 in general, and furthers the objectives of Section 6(b)(5) of the Act, 35 in particular, in

that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and

equitable principles of trade, to foster cooperation and coordination with persons engaged in

regulating, clearing, settling, processing information with respect to, and facilitating transactions

in securities, to remove impediments to and perfect the mechanism of a free and open market and

See Nasdaq Equity Rule 4703(a). Nasdaq provides a list of acceptable times to activate and deactivate

orders, which includes Regular Market Hours (similar to the Exchange’s RHO TIF) and the end of System

Hours (pursuant to Nasdaq Equity 1, Section 1(a)(9), the end of System Hours is defined as 8:00 p.m. ET,

which is identical to the end time of the Exchange’s After Hours Trading Session).

15 U.S.C. 78f.

15 U.S.C. 78f(b)(5).

a national market system, and, in general, to protect investors and the public interest.

The Exchange believes the proposed rule change promotes just and equitable principles

of trade, removes impediments to and perfects the mechanism of a free and open market and

national market system, and protects investors and the public interest by providing Users with a

convenient, streamlined mechanism to participate in both Regular Trading Hours and the After

Hours Trading Session through the submission of a single order. Currently, Users seeking to

maintain trading interest across both Regular Trading Hours and the After Hours Trading

Session must either submit separate orders for each session or utilize broader TIF designations

that may include trading sessions not desired by the User. The introduction of the RTP TIF in

Rule 11.9 directly addresses this gap by offering a dedicated, purpose-built TIF designation that

permits a User to submit a single order eligible for execution during Regular Trading Hours and,

if not fully executed, to have such order remain active through the end of the After Hours

Trading Session. This streamlined approach promotes just and equitable principles of trade by

enabling Users to efficiently express their trading interest across the regular and post-close

sessions in a single instruction, thereby reducing operational complexity, administrative burden,

and the potential for order entry errors that may arise from the need to manage multiple orders

across trading sessions.

Furthermore, the conforming amendments to Rules 11.1(a), 11.23, and 11.24 ensure that

the RTP TIF is fully integrated into the Exchange’s existing order handling, auction, and opening

process framework in a manner that is consistent with the treatment of the existing limit RHO

TIF. By aligning the treatment of RTP orders with RHO limit orders for purposes of pre-Opening

Auction order entry restrictions, Opening and Closing Auction eligibility and priority, IPO

Auction conversions, and participation in the Opening Process and Re-Opening Process for non-

BZX-listed securities, the Exchange ensures that RTP orders are processed in a manner that is

transparent, predictable, and fair to all Users. The consistent treatment of RTP orders across the

Exchange’s rules promotes just and equitable principles of trade by providing Users with

certainty as to how their RTP orders will be handled throughout the trading day.

Moreover, the proposed rule change perfects the mechanism of a free and open market

and supports a national market system by offering Users functionality that is comparable to that

available on other national securities exchanges. As discussed above, NYSE Arca permits orders

to be entered during its Early Trading Session that are eligible to trade in both the Core Trading

Session and the Late Trading Session, providing comparable functionality to the Exchange’s

proposed RTP TIF. Similarly, Nasdaq’s Time-in-Force framework permits Participants to

specify both a time at which an order becomes active and a time at which the order ceases to be

active, enabling comparable order entry flexibility. The Exchange’s adoption of the RTP TIF

ensures that Users have access to trading functionality on BZX that is consistent with industry

practice and supports the efficient operation of the national market system by enabling Users to

express their trading interest in a manner that is compatible with the trading mechanisms

employed by other market centers.

Finally, the Exchange believes that the proposed rule change is not designed to permit

unfair discrimination. The RTP TIF would be available to all Users on an equal and nondiscriminatory basis. The use of the RTP TIF is entirely optional, and no User is required to

utilize the RTP TIF in connection with order submission to the Exchange. Users who do not wish

to use the RTP TIF may continue to submit orders using any of the other TIF designations

currently offered by the Exchange, including the Day, RHO, and PTX TIF designations.

Self-Regulatory Organization’s Statement on Burden on Competition

The Exchange does not believe that the proposed rule change will impose any burden on

competition that is not necessary or appropriate in furtherance of the purposes of the Act. The

RTP TIF is an optional designation offered by the Exchange, and Users are free to decide

whether to use the RTP TIF in connection with order submission to the Exchange.

The Exchange believes that the proposed RTP TIF and associated conforming

amendments do not impose any intramarket burden on competition as they represent an

enhancement to existing functionality that would be available to all Users on an equal and nondiscriminatory basis. The proposed changes do not alter the way in which orders are prioritized,

executed, or otherwise processed on the Exchange; they simply provide Users with an additional

TIF option and integrate that option consistently into existing rules.

The Exchange believes that the proposed rule change does not impose any undue burden

on intermarket competition. On the contrary, the proposed changes are being made to provide

Users with enhanced order entry flexibility that may improve their ability to interact across

Regular Trading Hours and the After Hours Trading Session that is comparable to order entry

flexibility on competitor exchanges, therefore promoting competition between venues.

Self-Regulatory Organization’s Statement on Comments on the Proposed Rule

Change Received from Members, Participants, or Others

The Exchange has not solicited, and does not intend to solicit, comments on this proposed

rule change. The Exchange has not received any unsolicited written comments from Members or

other interested parties.

III.

Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action

Because the foregoing proposed rule change does not: (i) significantly affect the

protection of investors or the public interest; (ii) impose any significant burden on competition;

and (iii) become operative for 30 days after the date on which it was filed, or such shorter time as

the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of

the Act36 and subparagraph (f)(6) of Rule 19b-4 thereunder.37

A proposed rule change filed under Rule 19b-4(f)(6)38 normally does not become

operative prior to 30 days after the date of the filing. However, pursuant to Rule

19b4(f)(6)(iii),39 the Commission may designate a shorter time if such action is consistent with

the protection of investors and the public interest. The Exchange has asked the Commission to

waive the 30-day operative delay so that the proposed rule change may become operative

immediately upon filing. The Exchange states that it is seeking to introduce the proposed

functionality early in the fourth quarter of 2026 and waiver of the operative delay will permit the

proposed rule changes to become effective immediately. The Exchange further states that waiver

of the operative delay will allow the Exchange to offer a TIF that is competitive with TIF

offerings of Nasdaq40 and NYSE Arca41, each of which permits Users to submit orders during the

respective Pre-Opening Session that become active during Regular Trading Hours and remain

active through the end of the After Hours Trading Session. The Commission believes that

waiving the 30-day operative delay is consistent with the protection of investors and the public

interest as the proposal does not raise any new or novel issues. Therefore, the Commission

15 U.S.C. 78s(b)(3)(A)(iii).

17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) requires a self-regulatory organization to give

the Commission written notice of its intent to file the proposed rule change, along with a brief description

and text of the proposed rule change, at least five business days prior to the date of filing of the proposed

rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this

requirement.

17 CFR 240.19b-4(f)(6).

17 CFR 240.19b-4(f)(6)(iii).

Supra note 33.

Supra note 29.

hereby waives the 30-day operative delay and designates the proposed rule change to be

operative upon filing.42

At any time within 60 days of the filing of such proposed rule change, the Commission

summarily may temporarily suspend such rule change if it appears to the Commission that such

action is necessary or appropriate in the public interest, for the protection of investors, or

otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the

Commission shall institute proceedings under Section 19(b)(2)(B)43 of the Act to determine

whether the proposed rule change should be approved or disapproved.

IV.

Solicitation of Comments

Interested persons are invited to submit written data, views and arguments concerning the

foregoing, including whether the proposed rule change is consistent with the Act. Comments

may be submitted by any of the following methods:

Electronic Comments:

•

Use the Commission’s internet comment form

(https://www.sec.gov/rules/sro.shtml); or

•

Send an email to rule-comments@sec.gov. Please include file number SRCboeBZX-2026-070 on the subject line.

Paper Comments:

•

Send paper comments in triplicate to Secretary, Securities and Exchange

Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to file number SR-CboeBZX-2026-070. This file number

For purposes only of waiving the 30-day operative delay, the Commission has also considered the proposed

rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f).

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

should be included on the subject line if email is used. To help the Commission process and

review your comments more efficiently, please use only one method. The Commission will post

all comments on the Commission’s internet website (https://www.sec.gov/rules/sro.shtml).

Copies of the filing will be available for inspection and copying at the principal office of the

Exchange. Do not include personal identifiable information in submissions; you should submit

only information that you wish to make available publicly. We may redact in part or withhold

entirely from publication submitted material that is obscene or subject to copyright protection.

All submissions should refer to file number SR-CboeBZX-2026-070 and should be submitted on

or before [INSERT DATE 21 DAYS AFTER DATE OF PUBLICATION IN THE FEDERAL

For the Commission, by the Division of Trading and Markets, pursuant to delegated

authority.44

Sherry R. Haywood,

Assistant Secretary.

17 CFR 200.30-3(a)(12), (59).

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