SEC Publishes Cboe EDGX Filing on Unpriced and Overnight Day Orders

The Securities and Exchange Commission published notice of an immediately effective Cboe EDGX Exchange rule filing that addresses when unpriced orders are eligible for execution and clarifies the expiration of certain Day orders. The notice, Release No. 34-106683, is dated 16 October 2026; Cboe EDGX filed the proposed change with the SEC on 13 October.

The filing would amend EDGX Rule 11.1(a)(3) to describe unpriced-order execution eligibility. It would also amend Rule 11.6(q)(2) to clarify when Day orders entered during the exchange’s overnight trading session, or during its order-acceptance queueing time, expire. The SEC published the notice under the Exchange Act process for a non-controversial proposed rule change, and is seeking public comments.

This is an exchange-rule filing, not a change to an individual broker’s order-handling terms. The SEC notice does not announce a new market-wide order type; it sets out proposed clarifications to EDGX’s existing rule text.

Why it matters

Traders and firms using EDGX need operationally precise order-lifecycle rules, particularly when orders are staged ahead of or entered in the overnight session. Clearer eligibility and expiration language can affect how brokers, routing systems and trading desks reconcile queued orders and cancellation expectations.

What to watch next

Watch the public-comment process and the final EDGX rule text. Firms that route to EDGX can review their overnight order controls and client disclosures against the filing once the exchange implements the changes.