Cboe EDGX amends rule to keep 4 a.m. resume after Level 3 halt
The amendment binds Cboe EDGX's equity listings and will apply when the Exchange begins its 23-hour, five-day trading schedule on Dec. 6, 2026.
On September 24, 2026 Cboe EDGX Exchange, Inc. filed a proposed rule change with the Securities and Exchange Commission that became immediately effective, as noted in the notice published October 5, 2026 (FR Doc No: 2026-20603; Release No. 34-106584; File No. SR-CboeEDGX-2026-062).
The filing seeks to amend Rule 11.24(b)(2) to delete the language that requires a halt "for the remainder of the trading day" after a Level 3 market-wide circuit breaker (MWCB) decline and to replace it with a fixed resumption time of 4 a.m. ET on the following trading day. The change preserves the Exchange's current 4 a.m. resumption despite the upcoming 23-hour, five-day ("23/5") trading schedule.
Under the approved rule text, the Exchange will add an Overnight Trading Session from 9 p.m. to 4 a.m. when it launches 23/5 trading on December 6, 2026. The amendment ensures that, even with the new session, a Level 3 MWCB halt will not trigger an earlier reopen at 9 p.m.; trading will remain halted until the 4 a.m. start of the Early Trading Session.
The Exchange cites Section 6(b) and Section 6(b)(5) of the Securities Exchange Act of 1934 as the statutory basis, emphasizing the goal of promoting just and equitable trade, protecting investors, and maintaining market stability. The change does not modify the MWCB mechanism itself, only the timing of the post-halt resumption.
Cboe EDGX notes that other U.S. equity exchanges and FINRA are filing parallel amendments, so the market as a whole will continue to operate under harmonized rules for Level 3 halt resumption.
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