Cboe EDGA Offers Academics Discounts on Historical Stock Data
Published Date: 5/7/2025
Notice
Summary
Cboe EDGA Exchange is giving a special discount to qualifying academic buyers who want to purchase historical U.S. Equity Short Volume and Trades Reports. This change helps students and researchers save money when accessing important market data. The new discounted fees are effective immediately, making it easier and cheaper for academics to get the info they need.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Academic discount for historical short-volume data
Qualifying academic purchasers can buy historical U.S. Equity Short Volume and Trades Reports at a discounted price equal to the greater of (i) a 50% discount off their total purchase or (ii) $500. For example, the filing notes that if an academic buys a month-and-a-half of historical data that would cost $750 before discount, the 50% price would be $375 but the purchaser would be charged the greater fee of $500.
Who qualifies for academic pricing
To get the academic discount, a purchaser must be an accredited academic institution using the data for independent academic research, academic journals/publications, teaching, classroom use, or other bona fide educational purposes; use must be limited to the institution's faculty and students. Academic pricing is not available for commercial or profit-seeking use, nor for research funded by a securities industry participant, and institutions must submit a brief application for Exchange review and approval.
Restrictions on historical-report use
The historical Short Volume Report is provided for display use only; Users may not separately charge for the data or incorporate it into a product for resale. Academic purchasers likewise may not use the discounted data for commercial or profit-seeking purposes or if their research is funded by a securities industry participant.
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