Introduction

The Cboe Titanium Cboe U.S. Equities Auction Process provides electronic price discovery mechanisms that efficiently match orders in Cboe Listed securities at a single price. These auctions enable Cboe BZX Exchange (BZX) Members to execute against on-open and on-close interest at Cboe. They also allow for Member participation in Corporate IPOs, Exchange Traded Product (ETP) new issues and auctions resulting from security halts. During the auction process, Cboe will calculate and disseminate current price and size information, as described below.