Cboe Exchange, Inc.

Paul Rose

Cole Michael Chmielewski

An exchange computer system can implement a method to implement a minimum processing time to provide a more balanced and equitable environment for trading. The exchange computer system receives a first message related to an electronic order determines a first time at which the first message is received, and applies a time stamp indicative of the first time. A minimum processing time is determined for processing message(s) related to the electronic order. The exchange computer system determines whether a time elapsed from the first time satisfies the minimum processing time and blocks transmission of the first message until the time elapsed from the first time satisfies the minimum processing time. In some cases, the exchange computer system can also determine whether a second elapsed time from the first time satisfies the minimum processing time, and upon satisfaction, transmits the first message.

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Olathe, KS, United States of America

Paul Rose