Opening Price Calculation

Regular Hours Only (RHO) orders previously only accepted for Cboe Listed securities will be accepted for all securities and queued for participation in an Opening Match that will occur between 9:30 and 9:45 a.m. ET. The Opening Price will be the midpoint of the NBBO at the time the Opening Price Calculation is completed. RHO orders priced at or more aggressively than the Opening Price will be matched in time priority (i.e. the oldest buy RHO order received is matched against the oldest sell RHO order). Any remaining RHO orders that are not executed in the Opening Match at the NBBO midpoint will be submitted to the exchange order book in time priority. The calculation of the Opening Price differs based on the Listing Market of the security.