2025-15831NoticeWallet

Cboe EDGX Launches New Market Data Timestamping Report Immediately

Published Date: 8/20/2025

Notice

Summary

Cboe EDGX Exchange is adding a new market data report to its existing timestamping service, which helps traders see exact times for orders and cancellations. This change affects anyone using EDGX’s market data and kicks in right away, with no new fees announced. It’s all about giving market players clearer, faster info to make smarter trading moves.

Analyzed Economic Effects

3 provisions identified: 2 benefits, 1 costs, 0 mixed.

New All Cancels Report (T+1 historical data)

If you subscribe to Cboe EDGX market data, you can opt into a new All Cancels Report that provides historical (prior trading day) cancel-related message data generally on a T+1 basis. The report includes fields such as Message Type, Date, Firm ID, Session Sub ID, Client Identifier, Cboe Order ID, Symbol, multiple Exchange System Timestamps, Matching Unit number, a Queued flag, and Port Type, and it will contain only data about the subscribing firm (no other firms' data).

Subscription Fees Will Be Charged

The All Cancels Report is optional and the Exchange will assess fees based on the number of reports a subscriber selects. The Exchange intends to file a separate rule change to propose the specific fees for the All Cancels Report.

Sponsored Participants Can Subscribe Directly

Sponsored Participants (entities sponsored by Exchange members) may now directly subscribe to the timestamping reports and be charged the corresponding fees rather than receiving data only through a member. This clarifying change was added to include Sponsored Participants as eligible subscribers.

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Key Dates

Effective Date
Published Date
8/6/2025
8/20/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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