Cboe Launches New Timestamping Service

​Cboe-affiliated U.S. Equities Exchanges have introduced the Cboe Timestamping Service, designed to provide market participants with detailed timestamp information related to orders and cancellations. This new service allows Members to self-subscribe and receive timestamp data on a T+1 basis for selected messages.

According to Cboe, the Timestamping Service enhances insight into Member orders, modifications, and cancellation messages across the exchange infrastructure. It aims to improve access and visibility into resting and displayed liquidity by quantifying latency reduction targets.

The service will feature two distinct reports: the Missed Liquidity Report and the Cancels Report. Both reports are expected to be available on a best-efforts T+1 basis by 7:00 a.m. ET. The Missed Liquidity Report will provide detailed records of order or modify actions within specific time windows, allowing subscribers to compare aggressor network discovery timestamps with their own orders.