SEC invites comments on CBOE plans to offer electronic-only order type

“For that matter, an electronic order type is simply creating a convenient way for market participants to indicate they want a specific order to avoid manual handling” reports CBOE insists that the “electronic-only” will act as an order routing designation and does not substantially change how orders can be handled or processed today.If an order is routed to a PAR or OMT and the TPH who entered the order prefers the order not be handled manually, they are free to resubmit the order electronically or cancel the order.At present, TPHs are free to set routing designations for their orders and move or cancel orders according to their needs.

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