Initiating COA Orders

A customer may decide if their order is eligible to initiate an Auction. All Book Only, non-IOC complex orders are eligible for COA upon entry to the complex order book by default unless otherwise specified on the order. Book Only, IOC complex orders do not initiate a COA by default. Customers may opt-in or opt-out of initiating a COA by specifying one of the following 2nd character RoutingInst (9303) values:

  • L = Do not expose order via COA (default for IOC)
  • S = Expose order via COA (default for non-IOC)

Customers may override the default on an order-by-order basis using the appropriate RoutingInst (9303) values or configure alternative port level defaults by submitting a Modify Logical Port Request on the Customer Web Portal.

Cboe Titanium U.S. Options Complex Book Process - Initiating COA Orders | Cboe