2025-23336Notice

Cboe Adds Detailed Trade History Report for Savvy Investors

Published Date: 12/19/2025

Notice

Summary

Cboe Exchange is rolling out a new Historical Trade-by-Trade Report that gives detailed info on every options trade. Both Cboe Trading Permit Holders and others can buy this report starting now, helping traders get clearer insights. This change kicks in immediately with no extra fees announced yet, making market data smarter and more accessible.

Analyzed Economic Effects

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

New Trade-by-Trade Options Data

Cboe will offer a new Historical Trade-by-Trade (TBT) Report for purchase by Cboe Trading Permit Holders and non-TPHs. The report lists each options trade (time, symbol, strike, expiry, size, price, side, opening/closing, origin, and execution IDs) and will be produced and updated at the end of each trading day for subscribers.

Data Delivered Overnight (T+1)

The TBT Report will be produced at the end of each trading day and made available to subscribers overnight after midnight Eastern Time (T+1). Because it is historical and delivered T+1, the Exchange states it cannot be used to influence intraday trading decisions.

Fees Will Be Set in Separate Filing

The Exchange intends to submit a separate rule filing to establish fees for the TBT Report, meaning subscribers will have to pay an as-yet-unspecified price if they choose to purchase it. The TBT Report itself is voluntary and subscribers may purchase it only if they choose to do so.

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Key Dates

Effective Date
Published Date
12/11/2025
12/19/2025

Department and Agencies

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Independent Agency
Agency
Securities and Exchange Commission
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