Cboe EDGX Updates Options Data Feed Fees for January 2026 Access
Published Date: 1/14/2026
Notice
Summary
Cboe EDGX Exchange is updating its market data fees starting January 2026. Traders and firms using EDGX’s options data feeds will see new charges for accessing certain market info. This change helps the Exchange keep improving its services while making fees clearer and fairer.
Analyzed Economic Effects
5 provisions identified: 1 benefits, 4 costs, 0 mixed.
New EDGX Options Top fees
Firms that distribute or subscribe to EDGX Options Top will face new fees: Internal Distributor $1,250/month, External Distributor $1,000/month, Professional User $5.00/month per user, Non-Professional User $0.10/month per user, and an Enterprise Fee tiered at $20,000; $40,000; or $60,000 per month depending on user counts. These fees apply under the Exchange's amended market data schedule beginning January 2026.
Separate EDGX Options Depth and Auction fees
EDGX is charging separate fees for the Options Depth and Options Auction feeds: Internal Distributor $1,250/month, External Distributor $1,000/month, Professional User $20.00/month per user, and Non-Professional User $1.00/month per user. These feeds will no longer be automatically bundled with Complex Order Feed access under the new schedule starting January 2026.
New Complex Order Feed charges and unbundling
EDGX will charge separate fees for Complex Order Feeds: Internal Distributor $1,250/month, External Distributor $1,000/month, Professional User $20.00/month per user, and Non-Professional User $1.00/month per user. Distributors or Users of a Complex Order Feed will no longer receive free access to the Simple Book Feeds, and vice versa; for example, buying both a Simple Book Feed and a Complex Order Feed could cost $2,500/month for internal distributors ($1,250 + $1,250).
Enterprise fee tiers for EDGX Options Top
EDGX Options Top will include enterprise pricing tiers based on user counts: Tier 1 (0–1,500,000 users) $20,000/month; Tier 2 (1,500,001–2,500,000 users) $40,000/month; Tier 3 (more than 2,500,001 users) $60,000/month. Firms that meet these enterprise user counts will be billed the corresponding monthly enterprise fee under the new schedule.
New External Distributor credits and trial rules
New External Distributors of EDGX Options Top will not be charged the External Distribution Fee for their first three months (New External Distributor Credit). External Distributors may also receive a Distributor Fee Credit against the $1,000/month External Distributor Fee equal to their monthly User Fees or Enterprise Fee up to the amount of the External Distributor Fee; these credits do not apply during an External Distributor's trial usage period.
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