Cboe BZX Joins the Fray with Expanded Market Data Feeds
Published Date: 4/14/2026
Notice
Summary
Cboe BZX Exchange is boosting its data feeds by showing twelve price levels on each side instead of five. This upgrade helps traders get a clearer picture of the market faster, starting right away with no extra fees. If you trade or follow stocks, this means better info and smarter moves in real time!
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Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
BZX Summary Depth: 5 → 12 Levels
If you subscribe to the BZX Summary Depth data feed, it will show up to twelve (12) price levels per side instead of five (5), with two-sided quotes and share sizes at each level. The change was filed on April 2, 2026 and is being implemented to give market participants greater visibility into market liquidity.
Cboe One Premium: Up to 48 Levels
The Cboe One Premium data feed will offer up to twelve (12) price levels per Cboe equities exchange, meaning it can support up to forty-eight (48) total price levels (12 levels × 4 exchanges). The Exchange will offer both the existing five (5) level feed and the new twelve (12) level feed for a transition period, and the five-level Cboe One Premium feed is scheduled to be sunset by December 31, 2026 with at least sixty (60) days' notice via Exchange Notice.
No Fee Increase; Voluntary Availability
The Exchange stated it does not intend to increase fees for the BZX Summary Depth or Cboe One Premium feeds as a result of adding price levels. Both data products are voluntary: subscribers may choose to start or stop using them, and after the five-level Cboe One Premium feed is sunset, subscribers can still extract the top five levels from the twelve-level feed if they prefer.
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