2025-15838Notice

BOX Dumps Liquidity Taker Reports and Saves Fees

Published Date: 8/20/2025

Notice

Summary

BOX Exchange is dropping the Liquidity Taker Event Reports and the fees that come with them, starting right away. Traders and firms using these reports will no longer have to pay for or receive them. This change makes things simpler and saves money for those involved.

Analyzed Economic Effects

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

BOX removes liquidity-taker reports

BOX Exchange deleted Liquidity Taker Event Report—Simple Orders (Rule 7350(b)) and Liquidity Taker Event Report—Complex Orders (Rule 7350(c)) from Rule 7350 and removed Section III.C.2 (Liquidity Taker Event Reports) from its Fee Schedule. The change became operative upon filing on August 8, 2025, so Participants will no longer be able to purchase those reports and the related fee entries have been removed.

No current subscribers impacted

The Exchange states the Liquidity Taker Event Reports were never made available for purchase and there are no existing subscribers to those Reports. Because of that, BOX says the removal of the Reports and related fees will not affect any current Participants financially.

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Key Dates

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

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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