January 2026 Highlights
Member Usage & Peer Ranking Reports Now Available
- Member Usage and Peer Ranking Reports are now available to help members understand how their trading activity and performance compare to other members in their peer groups on each of the Cboe trading venues.
- Metrics available include: traded volume across different order types on a shares and notional basis, post trade markouts by liquidity, price group and spread buckets, and volumes and average trade size for NBBO setting and joining add volume. For each of these metrics, members are given an overall ranking and a ranking within their peer group, along with percentiles for that peer group.
- Please reach out to your account manager to learn more and receive your Member Usage and Peer Ranking Report.
Enhanced Retail Price Improvement (ERPI) on BYX ® Launched January 30
- The Enhanced Retail Price Improvement (EPRI) order type, offered through the Retail Price Improvement (RPI) Program on the Cboe BYX Equities Exchange (BYX), enables RPI liquidity providers to post a limit order with a Step-Up Range that will only be used when necessary to gain a higher queue priority relative to better priced orders on the BYX book.
- ERPI orders can receive higher price priority than resting limit orders when executing against an incoming Retail Order at a price within the designated Step-Up Range. The ERPI order increases fill rates for liquidity providers and provides increased price improvement to retail investors.
- Read the Cboe BYX Equities Introduces Enhanced RPI Order Type Trade Desk Notice for more details.
- The chart below highlights ERPI opportunities to trade with retail flow. Daily RPI Opportunity Reports can be found here.
Source: Cboe
Upcoming Changes
New Listings
In January 2026, Cboe added 39 new listings to Cboe BZX® Equities Exchange (BZX).
The information provided is for general education and information purposes only. No statement provided should be construed as a recommendation to buy or sell a security, future, financial instrument, investment fund, or other investment product (collectively, a “financial product”), or to provide investment advice. Past performance of an index or financial product is not indicative of future results.
There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/global-disclaimers/. In certain jurisdictions, Cboe Company products are only permitted for investment professionals, certified sophisticated investors, or high net worth corporations and associations. These products are complex and are suitable only for sophisticated market participants. These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position. Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle. © 2025 Cboe Exchange, Inc. All rights reserved.
