Cboe Files Proposal with the SEC to Launch Near 24x5 U.S. Equities Trading
Rhea-AI Summary
Cboe (CBOE) filed with the SEC to launch near 24x5 U.S. equities trading on Cboe EDGX, targeting a December 2026 start pending regulatory approval and infrastructure readiness. Cboe plans trading from Sunday 9:00 p.m. ET to Friday 8:00 p.m. ET with a one-hour pause 8–9 p.m. ET Monday–Thursday. All trades are planned to clear through DTCC. The filing cites a 590% ADV growth in early trading hours (Feb 2022–Feb 2026) and notes Cboe's four exchanges accounted for 20.2% of U.S. on-exchange trading in 2025.
Positive
- 590% ADV growth in early trading hours (Feb 2022–Feb 2026)
- 20.2% share of U.S. on-exchange equities volume across Cboe's four exchanges in 2025
- Planned DTCC clearing for all overnight trades, reducing settlement fragmentation
Negative
- Launch is contingent on SEC approval and industry infrastructure readiness, creating timing uncertainty
- Requires expanded market access and real-time data availability before near 24x5 trading can operate
News Market Reaction – CBOE
In the Mar 16 session, CBOE gained 0.65%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Mar 09 | New volatility index | Positive | -0.7% | Announcement of BITVX index based on IBIT options for Bitcoin volatility. |
| Mar 09 | Product innovation | Positive | -0.7% | Launch of prediction markets framework adding a third payoff outcome. |
| Mar 04 | Volume update | Positive | -1.0% | February 2026 trading volumes showing records and strong YoY growth. |
| Feb 24 | Conference appearance | Neutral | -0.6% | Planned presentation at Raymond James Institutional Investors Conference. |
| Feb 13 | Dividend declaration | Positive | +3.3% | Declaration of a $0.72 per share quarterly cash dividend for Q1 2026. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent product and volume-related announcements have often been followed by modest negative 1-day moves, while dividend news drew the strongest positive reaction.
Over the last few months, Cboe has consistently highlighted product innovation and strong trading activity. In February 2026, it reported record index options ADV and double-digit YoY growth across several businesses, yet the stock dipped modestly afterward. New initiatives like the BITVX index and a prediction markets framework on March 9, 2026 also saw small next-day declines. In contrast, the $0.72 Q1 2026 dividend declaration on February 13, 2026 coincided with a stronger positive move, underscoring income-focused investor interest alongside growth efforts.
Key Terms
nms stocks regulatory
depository trust and clearing corporation regulatory
dtcc regulatory
global trading hours technical
average daily volume financial
adv financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
In its filing, Cboe outlines its plans to make all listed NMS stocks available for trading on EDGX from Sunday 9 p.m. ET to Friday 8 p.m. ET, with a one-hour operational pause 8 to 9 p.m. ET Monday through Thursday. This will allow for near 24x5 trading, excluding U.S. market holidays. All trades are planned to be cleared through the Depository Trust and Clearing Corporation (DTCC).
"Cboe's filing with the SEC is the latest step in ensuring we are ready to offer overnight trading once the industry launches in December. Since announcing our plans for near 24x5 trading amid growing global interest for
Demand for
Cboe has successfully operated around-the-clock trading through its proprietary index futures and options and its Global FX markets for several years. Trading in Cboe's proprietary index options during Global Trading Hours (8:15 p.m. to 9:25 a.m. ET) is at record levels in 2026, as investors look to hedge positions or reposition as needed, particularly during pre-market news. Cboe FX, which offers a true 24x5 market, operates a follow‑the‑sun operations model with continuous operational coverage, incident response, and client support across all global time zones.
Outside of regulatory approval and infrastructure readiness, critical components to launching overnight trading include increasing market access and the availability of high-quality, real-time data. Cboe continues to expand distribution of its Cboe One
"Cboe understands that accurate and reliable market data is the foundation for making informed investment decisions," said Brian McElligott, Head of Cboe Data Vantage. "We continue to focus on expanding the availability of our
For more information, visit here: Expanding Market Access: Why Cboe Plans to Launch Near 24x5
About Cboe Global Markets
Cboe Global Markets (Cboe: CBOE) is a leading global markets operator with a long history of innovation in equity derivatives. Since launching the world's first listed options exchange in 1973, Cboe has pioneered landmark products, including the introduction of S&P 500® index options and the creation of the VIX® Index, the world's leading gauge of market volatility, reshaping how investors manage risk and access opportunity. Today, Cboe operates derivatives, equities, and FX markets, providing trading, clearing, and investment solutions for customers worldwide. To learn more, visit www.cboe.com.
Cboe Media Contacts | Cboe Analyst Contact | |
Angela Tu | Tim Cave | Kenneth Hill, CFA |
+1-646-856-8734 | +44 (0) 7593-506-719 | +1-312-786-7559 |
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Cboe®, Cboe Global Markets®, and VIX®, are registered trademarks or service marks of Cboe Exchange, Inc and S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC. All other trademarks and service marks are the property of their respective owners.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as "may," "might," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.
We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.
Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price and new products and services competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our business and operational dependence on and exposure to risk from third parties; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our global operations, growth, and strategic acquisitions, wind downs, divestitures, or alliances effectively; increases in the cost of the products and services we use; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, liquidity, market, investment, counterparty, and default risks, associated with operating our clearinghouses; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing our business interests and our regulatory responsibilities; the loss of key customers or a significant reduction in trading or clearing volumes by key customers; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the accuracy of our estimates and expectations; and litigation risks and other liabilities. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made from time to time with the SEC.
We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
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SOURCE Cboe Global Markets, Inc.