Cboe Announces Launch Date for Cboe Market Close
CHICAGO – Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies, today announced it plans to launch Cboe Market Close (CMC) on the company’s BZX Exchange on Friday, March 6, 2020.
Immediately on the effective date, or any trading day thereafter, market participants may begin to route Market-on-Close (MOC) orders to CMC, where they are pre-matched with other MOC orders at 3:35 p.m. ET. The trades are then executed when the official closing price is published, saving participants from paying closing auction fees charged by the primary listing market on orders that are not price forming. The timing of the CMC match allows brokers to route any unmatched MOC orders to the primary exchanges’ closing auctions. CMC is available to all participants with no tiering.
For more technical information on CMC, please see the trade desk notice on Cboe’s website.
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