BZX Goes Granular: One-Minute Market Data Drops Now
Published Date: 6/30/2025
Notice
Summary
Cboe BZX Exchange is rolling out a new One-Minute Interval Intraday Open-Close Report that gives traders fresh, detailed stock data every minute during the trading day. This new report is available now for purchase by both members and non-members, helping everyone make smarter, faster trading decisions. No big cost changes announced, but this upgrade means quicker info and better market insights starting immediately!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 1 costs, 1 mixed.
From 10‑Minute to One‑Minute Updates
The new report delivers Intraday Open‑Close Data at one‑minute intervals instead of the existing ten‑minute intervals; snapshots are taken every 1 minute and would be available to subscribers within about five minutes (the Exchange expects delivery to range from 2–5 minutes after each one‑minute interval). For example, subscribers would receive the first one‑minute calculation at approximately 9:34 a.m. ET (data from 9:30–9:31 a.m.).
New One‑Minute Data Product Available
Cboe BZX has introduced a One‑Minute Interval Intraday Open‑Close Report that is available for purchase to both BZX Members and non‑Members starting with the filing on June 13, 2025. The product is voluntary and proprietary to the Exchange; potential customers may purchase it only if they voluntarily choose to do so.
Product Contains BZX‑Only Proprietary Data
The One‑Minute Intraday Open‑Close Data is proprietary Exchange trade data that does not include trade data from any other exchange. It provides volume summaries on BZX by origin, side, transaction type, and trade‑size buckets.
Fees Not Yet Established; Separate Filing Promised
The Exchange states it intends to submit a separate rule filing to establish fees for the One‑Minute Interval Intraday Open‑Close Report; no fee schedule is announced in this filing. The product is available for purchase but specific pricing will be set in a later filing.
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