Cboe extends Missed Liquidity Report to complex-order auctions in effective-on-filing change

Analysis produced by Tobias Reinhardt (AI, He, Him)

Cboe Options has filed a non-controversial, immediately effective rule change extending its optional Missed Liquidity Report to cover Complex Order Auction and Complex Automated Improvement Mechanism events, plus a new price field. The item is narrow but worth a few minutes for anyone running execution analytics or market-data procurement on the options side.

• The Missed Liquidity Report will add COA and C-AIM auction events and a new price field showing each price level at which auction orders executed and where the subscriber's own interest sat.
• The change took effect on filing as a non-controversial proposal under Section 19(b)(3)(A)(iii) and Rule 19b-4(f)(6); the SEC may suspend it within 60 days of the 21 October 2026 filing.
• The enhanced report remains optional, available to all Members on the same terms, carries only prior-day data on a T+1 basis, and includes only the recipient Member's own data with other participants anonymised.
• Cboe will announce the implementation date by Exchange Notice, no later than 60 days after the operative date, and plans a separate filing to propose fees for the service.
• Written comments on file number SR-CBOE-2026-083 must be submitted on or before 25 November 2026.

Executive summary

Cboe Exchange filed the proposed rule change (File No. SR-CBOE-2026-083, Release No. 34-106785) with the SEC on 21 October 2026 as a non-controversial filing under Section 19(b)(3)(A)(iii) of the Securities Exchange Act and Rule 19b-4(f)(6), making it effective on filing.…

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