Cboe Market Close
Cboe Market Close (CMC) is a cost-effective alternative to primary market closing auctions and off-exchange venues for execution of Market-On-Close (MOC) orders. Beginning March 6, 2020, Members may route MOC orders to CMC, where they are pre-matched with other MOC orders at 3:35 p.m. ET. CMC will publish its matched shares following the cut-off time. The trades are then executed when the official closing price is published, saving participants from paying closing auction fees charged by the primary listing market on orders that are not price forming. The timing of the CMC match allows brokers to route any unmatched MOC orders to the primary exchanges’ closing auctions. CMC is available to all Members with no tiering.
|Time Period||CMC Workflow|
|6:00 am ET||
|3:35 pm ET (CMC Cutoff Time)||
|4:00 pm – 8:00 pm ET||
|8:00 pm ET||
Please contact the Cboe U.S. Equities Trade Desk ([email protected], 913.815.7001) or your Director of Sales with any questions. We appreciate your continued support of Cboe and look forward to earning more of your business.