Cboe Exchange amends definition of Clearing Corporation, effective immediately

On October 23, 2026, Cboe Exchange, Inc. filed a proposed rule change with the Securities and Exchange Commission (Release No. 34-106809; File No. SR-CBOE-2026-084). The Commission published the notice on November 4, 2026 in the Federal Register (Vol. 91, No. 215, pp. 70928-70931) and made the amendment immediately effective.

The amendment revises the definition of "Clearing Corporation" in Rule 1.1 to refer to any clearing agency registered under Section 17A of the Securities Exchange Act that issues and clears the applicable option. It also adds a separate definition for OCC as The Options Clearing Corporation and updates Rule 5.2 concerning units of trading.

Corresponding language throughout the Exchange's rules is changed to reference the applicable clearing agency rather than OCC alone. The definition of "Rules of the Clearing Corporation" is amended to mean the governing documents and rules of the applicable registered clearing agency, and references in Rules 3.61, 4.5, 5.10, 5.11, 5.53, 5.65, 6.3, 6.4, 8.30, 10.3 and related interpretations are revised to accommodate multiple clearing agencies.

The filing also modifies provisions governing Clearing Trading Permit Holders (CTPH). A CTPH's letters of guarantee and authorization remain effective only while the holder is a member of the specific clearing corporation that issued those letters. If a CTPH's membership is terminated or suspended by one clearing agency, only the letters tied to that agency are invalidated, and the Exchange may restrict or block access for that CTPH in options cleared by the affected agency.

The Commission is soliciting comments on the proposed change from interested persons, with the text of the filing available on the SEC and Cboe websites and at the Exchange's principal office.