Complex Qualified Contingent Cross (Complex QCC) (C1 and EDGX only)

This section will describe the Complex Qualified Contingent Cross (Complex QCC) functionality offered on the Cboe Options Exchange. Members must choose between trading the stock leg off exchange or sending the stock leg in the complex instrument definition for the Cboe Options Exchange to execute. For additional details relating to the Complex QCCs where the stock leg is included in the complex instrument definition, see QCC for Complex Orders with Stock Legs.

The information below will detail the important differences for Complex QCC relative to QCC. Unless mentioned below, all other QCC behaviors (described in the Cboe Titanium U.S. Options Auction Process Specification) should be assumed to also apply to Complex QCC.

• The smallest component options leg must be at least 1,000 contracts
• Price protections, including Drill Through, will not apply to Complex QCCs.
• Complex QCCs will not be restricted by other auction types going on at the same time in the Complex or Simple Book.
• Trade messages resulting from Complex QCCs will not be displayed on the Auction Feed but will be displayed on the Depth, Top, and OPRA feeds.
• Complex QCCs will either be immediately executed or canceled on entry.
• Complex QCCs will never interact will resting liquidity on the complex or simple books.
• All component options legs must be executed at or inside the NBBO for each leg.