# Cboe Proposes New 'Future-Option Orders' Combining VIX Options and VX Futures > Cboe Exchange has filed a proposed rule change with the SEC to allow traders to submit combined orders that include both VIX options and VX futures in a single transaction. This is a securities market structure proposal affecting derivatives traders and has no direct impact on immigration status or visa holders. The SEC is soliciting public comments on the proposal. Canonical URL: https://thevisapulse.com/updates/cboe-vix-future-option-orders-proposed-rule-2026 ## At a glance - **Policy status:** Status unverified - **Last verified:** Not recorded - **Human review:** No human review recorded - **Published:** 2026-01-16 - **Impact:** low - **Document type:** Notice - **Source agency:** Securities and Exchange Commission - **Document number:** 2026-00801 Publication dates and impact ratings do not establish whether a policy is in force. Verify current status against the linked government evidence. See /about for our editorial process. ## Who is affected - Derivatives traders on Cboe Exchange - Market participants trading VIX options and VX futures - No visa holders or immigration applicants are affected ## Key changes - Cboe Exchange proposed allowing combined 'future-option orders' that bundle VIX options and VX futures into a single transaction. - The proposal introduces a risk offset requirement to prevent misuse of the new order type. - If the futures leg of a combined order fails to execute, the options leg would be automatically cancelled. - This is a financial markets structure proposal with no immigration policy implications. ## What you should do No immediate action required. This document does not affect immigration status, visa applications, or work authorization of any kind. ## What This Document Is This is a notice from the Securities and Exchange Commission (SEC) announcing that Cboe Exchange, Inc. has filed a proposed rule change to introduce a new order type called a "future-option order." This proposal relates to financial markets trading — specifically, the ability to execute combined trades involving VIX options and VX futures simultaneously. **Important note for Visa Pulse readers:** This document has no connection to US immigration policy, visa regulations, or the status of H-1B, F-1, OPT, or any other visa category. It is a financial markets regulatory filing. ## What the Proposal Actually Does Cboe Exchange is asking the SEC to allow market participants to submit a single order that bundles: - **VIX options** (traded on Cboe Exchange, regulated by the SEC) - **VX futures** (traded on Cboe Futures Exchange/CFE, regulated by the CFTC) Currently, traders who want to hedge a VIX options position with VX futures must submit two separate orders to two separate exchanges. This creates execution risk — one order might fill while the other does not — and price risk from the time delay between the two transactions. ## Key Technical Details The proposed rule includes a **risk offset requirement**: the futures leg of the combined order must offset between 10% and 125% of the risk of the options leg, measured using "delta" values (a measure of how much an option's price moves relative to the underlying index). If the futures leg fails to execute, the Exchange would automatically cancel the options leg — protecting traders from being left with an unintended one-sided position. ## Who Filed This and What Happens Next Cboe Exchange filed this proposal on January 6, 2026. The SEC published this notice on January 16, 2026, to invite public comments. The proposal has not been approved; the SEC will review comments before making a decision. ## Why This Appeared in Our Feed This document was published in the Federal Register by the Securities and Exchange Commission. Our automated system flagged it as a government regulatory document. However, after review, it contains no immigration-related content and does not affect visa holders, international students, or employment authorization in any way. *This article is published for transparency. No immigration action is required or relevant.* ## Sources - Government source · federalregister.gov: https://www.federalregister.gov/documents/2026/01/16/2026-00801/self-regulatory-organizations-cboe-exchange-inc-notice-of-filing-of-a-proposed-rule-change-to-adopt - Source PDF: https://www.govinfo.gov/content/pkg/FR-2026-01-16/pdf/2026-00801.pdf --- _The Visa Pulse — Immigration Policy, Explained. Informational coverage of U.S. immigration policy, not legal advice._ - HTML version: https://thevisapulse.com/updates/cboe-vix-future-option-orders-proposed-rule-2026 - Markdown version: https://thevisapulse.com/updates/cboe-vix-future-option-orders-proposed-rule-2026.md - Agent instructions: https://thevisapulse.com/llms.txt - Sitemap: https://thevisapulse.com/sitemap.xml