Cboe Slaps Admin Fee on Marketing Program Costs
Published Date: 9/17/2025
Notice
Summary
Starting September 2, 2025, Cboe Exchange is adding a small administrative fee to help cover the costs of running its Marketing Fee program. This change affects traders and firms using Cboe’s platform, who’ll see a slight fee added to their bills. It’s a smart move to keep things fair and running smoothly without surprising anyone later!
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Existing Marketing Fee Rates Continue
The Marketing Fee remains a per-contract charge assessed to Market-Makers: $0.25 per contract for Penny Program classes and $0.70 per contract for all other classes. The Marketing Fee does not apply to a listed set of classes and transaction types (for example, certain sector indexes and symbols, market-maker-to-market-maker transactions, penny and sub-penny cabinet trades, Flexible Exchange Options, qualified contingent crosses under Rule 6.53(u), open outcry, and Penny Program classes executed through the Step Up Mechanism).
0.45% Administrative Fee Added
Starting September 2, 2025, Cboe will assess an administrative fee equal to 0.45% of the total amount of Marketing Fee funds collected each month to offset its costs in administering the Marketing Fee program. The Exchange says it will monitor and may amend this administrative fee in the future.
Monthly Reimbursement Rule for Excess Funds
Each month, undisbursed Marketing Fees in excess of $250,000 will be reimbursed to the Market-Makers that contributed to the pool based on a one-month look-back and each contributor's pro-rata share of Marketing Fees collected that month. The Exchange describes this as the method for returning excess, undisbursed funds to contributing Market-Makers.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in