EDGX Offers Clock Service: Sync Up or Miss the Tick-Tock Trade
Published Date: 3/31/2026
Notice
Summary
Cboe EDGX Exchange is rolling out a new Clock Service that helps traders and firms sync their clocks perfectly with the Exchange’s time. This means everyone can measure trade times more accurately, making the market fairer and faster. The service is optional, open to all members and non-members, and is effective immediately with no extra fees announced yet.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 1 costs, 2 mixed.
Sub‑Nanosecond Time Sync Precision
The Clock Service provides White Rabbit and Precision Time Protocol synchronization that can achieve up to sub-nanosecond alignment and the Exchange will provide timestamps at a nanosecond level by the end of March. Subscribers can synchronize their primary clocks to the Exchange to measure latency more precisely between their systems and the Exchange.
Optional Clock Service for All Firms
If your firm trades on or interacts with Cboe EDGX, the Exchange is offering an optional Clock Service available to Members and non-Members alike. The service is immediately effective (filed March 17, 2026) and subscribers receive a dedicated 1 Gbps Physical Port as part of the offering.
Third‑Party White Rabbit Equipment Required
Firms that do not already have a White Rabbit clock synchronization device must acquire one from a third‑party vendor and procure any applicable licenses themselves. The Exchange does not provide the White Rabbit device or optics; participants are responsible for procuring necessary hardware and licenses.
Dedicated 1 Gbps Port, Single‑Use Only
Subscribers receive a dedicated 1 Gbps Physical Port included with the Clock Service that must be used solely for the Clock Service and cannot be used for other purposes like order routing. One 1 Gbps port will cover the Exchange and its affiliated equities and options exchanges for the Clock Service.
Fees To Be Filed Separately
The Exchange intends to submit a separate filing to propose fees for the Clock Service; no fees are announced in this filing. Firms should expect a future fee filing before final fee amounts are applied.
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