Retail Price Improvement Program (BYX and EDGX Only)

Through the Cboe Retail Price Improvement Program, any BYX and EDGX Exchange member may input Retail Price Improving (RPI) orders on the Exchange order books that will offer price improvement in $.001 increments to Retail Member Organizations (RMOs) that enter a Retail Order (RO).

BYX and EDGX Exchanges will disseminate a Retail Price Improvement message when the resting RPI order is priced better than the NBBO.