Cboe adds GTH-Only order types and revises Global and Curb session rules

On September 25, 2026, Cboe Exchange, Inc. filed a proposed rule change with the SEC under Section 19(b)(1) of the Securities Exchange Act of 1934 (Release No. 34-106620; File No. SR-CBOE-2026-078). The filing, announced in a Federal Register notice on October 7, 2026 (FR Doc No. 2026-20795), states that the amendment is effective immediately.

The amendment adds two order instructions to Rule 5.6(c) - "GTH Only" and "GTH and RTH Only." "GTH Only" limits an order to execution during Global Trading Hours, cancelling any unexecuted Day order at the close of the GTH session. "GTH and RTH Only" permits execution in both Global and Regular Trading Hours while excluding the Curb session.

Rules 5.7 and 5.31 are revised to set the start of the pre-opening Queuing Period and order-entry time at no earlier than 6:00 p.m. (previous day) for index options eligible for GTH and no earlier than 6:00 a.m. for all other GTH-eligible classes. Rule 5.1(e) is amended to make the Curb session available on trading days with shortened Regular Trading Hours, such as half-day sessions.

Rule 5.54(a)(6) is changed so that Designated Primary Market-Makers' opening-quote obligation applies to each applicable trading session - not solely the Regular Trading Hours session.

Cboe will publish the specific session times in a circular pursuant to Rule 1.5. The Exchange has indicated that GTH and Curb trading sessions for equity options are expected to launch in the third quarter of 2026.