Breaking News

Cboe Equities Exchanges to introduce Non-Displayed Day ISO order type

Maria Nikolova 0 Comments August 17, 2026

Effective September 4, 2026, all Cboe-affiliated U.S. Equities Exchanges will introduce a Non-Displayed Day Intermarket Sweep Order (ISO) order type, subject to regulatory review.

Non-Displayed Day ISOs will execute up to their limit price on entry through better priced protected quotes on away markets and post the remainder to the Cboe book.

Additionally, a new Hidden Multiple Price Sliding instruction will be available for users of Non-Displayed orders.

Upon the effective date, the ISO instruction (ExecInst (FIX Tag 18) = f (ISO)) and the Hidden Multiple Price Slide (DisplayIndicator (FIX Tag 9479) = h) will be supported on Non-Displayed orders.

All Day TimeInForce (FIX Tag 59) values are supported: DAY, GTC, GTX, GTD, PRE, RHO, PTD, and PTX. IOC ISOs are not impacted by these changes.

Maria Nikolova

Maria has been engaged in journalism for more than 17 years, providing Forex industry coverage for the past 10 years. Before joining FNG she was Managing Editor at FinanceFeeds. Prior to that, she worked at LeapRate. Maria has a Philosophy degree from the St. Kliment Ochridski university in Sofia. She has specialized in Cognitive Science in Vienna. Her interests include psychology, AI, and linguistics.