Cboe has published an early-close trading-hours change for a selected set of multi-listed equity options, with the amended Curb arrangement effective 16 November 2026. On qualifying early-close dates, those eligible equity options will retain a regular session ending at 1 p.m. Eastern and then have an additional 15-minute Curb session. The extra window is a market-operations change, not an extension of the normal closing price calculation.[1][2]
The distinction matters because an order's session eligibility controls whether it can trade in that period. Cboe's technical FAQ describes instructions for regular trading only, regular plus Curb, or all eligible sessions, using FIX Tag 22017. A broker that sends an order assuming only one afternoon close could inadvertently leave it actionable or resting at a time the customer did not anticipate.[1][2]
The precise hours and product exceptions
For eligible equity options on the specified early-close days, the published regular session runs from 9.30 a.m. to 1 p.m., with Curb from 1 p.m. to 1.15 p.m. The FAQ separately indicates that designated ETFs and ETNs trading to 1.15 p.m. remain in regular trading hours instead of getting an additional Curb period. These categories must not be conflated in market-data or compliance screens.[1][2]
Cboe also warns that an extended-session tag sent for a non-eligible symbol is not necessarily rejected. The order may be accepted but treated as regular-session-only. That apparently small detail is important for broker testing: a successful acknowledgement does not mean the instruction will be executable in the intended session. Eligibility logic must be kept current for each symbol.[1][2]
Evidence and operating implications
| Measure | Finding or scope |
|---|---|
| Effective date | 16 November 2026 |
| Eligible equity RTH, early close | 9.30am–1pm ET |
| Eligible equity Curb, early close | 1pm–1.15pm ET |
| Eligible ETF/ETN exception | Regular session continues to 1.15pm ET |
| Session eligibility field | FIX Tag 22017 |
| Ineligible extended-hours symbol | May be accepted as regular-only, not rejected |
| Curb last sale | Not standard last-sale eligible per Cboe table |
The order-entry trap for broker systems
The Curb and Global Trading Hours structure can also differ in last-sale eligibility and tape conditions. The FAQ marks the equity Curb period as an extended-hours trade condition that is not eligible to set the standard last sale. Brokers therefore need separate controls for execution display, customer confirmations, market-data timestamps and any valuation or margin process that refers to the official close.[1][2]
This is scheduled functionality rather than a claim that the 16 November session has already operated successfully. Market participants have a defined implementation date to check order routing, session flags, symbol eligibility and customer instructions. The fastest useful audit is to simulate an early-close day across eligible equities, ineligible equities and the designated ETF exceptions before allowing live order flow.[1][2]
Sources & further reading
- Equity Options Extended Trading Hours FAQ — revised early-close schedule Cboe Global Markets · Accessed 7 Nov 2026
- Update — C1 Options to Offer Expanded Trading Hours for Select Equity Options Cboe Global Markets · 6 Oct 2026 · Accessed 7 Nov 2026