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Clearing Questions

  1. What are the reported trade dates for executions during the GTH and Curb sessions?

    Executions occurring during GTH after 8:15 p.m. ET but before midnight are reported with a trade date equal to the next business day. Trades occurring after midnight for GTH, RTH, and Curb are reported with a trade date of the current business day's date.

    US holidays may impact the trade date of the GTH session. For example, in the event of no Friday RTH session due to a US holiday, both the GTH session on the preceding Thursday evening and the GTH session on the following Sunday will have a trade date of Monday.

  2. How do the Curb and extended GTH session impact the availability of the Clearing Editor tool?

    All clearing edits are still expected to be completed by 5:30 p.m. ET with an optional extension upon request to the Cboe Trade Desk or OSC.

    The 24x5 trading model requires a 7:00 p.m. ET hard cutoff deadline for all optional extensions with no ability for Cboe to extend past this time.

    The Clearing Editor only accommodates edits for trades for the current Trade Date per the schedule noted above.

  3. Are OCC real-time DDS trade reports available during GTH?

    Yes, OCC member firms receiving DDS trade reports will also receive GTH session messages.

  4. Is GTH session trading activity included in the corresponding day's OCC margin calculations, spread process, and options limit reporting?

    Yes, trading activity in the GTH and Curb sessions (regardless of the calendar date) is included in OCC's margining and spread processing and options limit reporting for the effective Trade Date, together with trading activity in the RTH session.

    Large Options Position Report (LOPR) and spread reporting only includes positions created for the current business date in the RTH or Curb sessions.

    Positions sent in the GTH session could be included in reporting for the next business date.

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