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.

Related articles

  1. With Bruce Traan, Head of Cboe Global Indices

  2. Volatility as an Asset Class

    With Henry Schwartz, Head of Product Intelligence at Cboe Global Markets

  3. Jerry Hanweck, VP Software Engineering, Information Solutions at Cboe, talks about a new options pricing model...

  4. Cboe Global Markets works to meet capital markets' demand for more innovation and better solutions.

  5. Hybrid open-outcry / electronic trading resumed yesterday after a three-month shutdown of the physical floor.