Proactive Issue Detection for IPO/New Issue Auction

Cboe has also implemented automated IPO auction monitoring and validation to detect software problems that may impact the IPO/New Issue Auction well in advance of the actual auction match time. If a problem is detected, the IPO Auction can be extended until the software issue is resolved. This proactive monitoring runs every five seconds during the quoting period of an Auction so that once the IPO Auction match occurs there is a high degree of confidence in the ability of the system to perform the auction match and all subsequent actions required to release the IPO symbol for continuous trading.