BOX Tweaks Rebates for Qualified Contingent Cross Trades
Published Date: 5/1/2026
Notice
Summary
BOX Exchange is updating its fee schedule to change rebate levels for certain special trades called Qualified Contingent Cross (QCC) transactions. This means traders using QCCs might see different rebates starting right away, helping the market stay fair and competitive. If you trade options on BOX, keep an eye on these new rebate rules—they’re effective immediately as of April 14, 2026.
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Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
QCC Rebate Tier Thresholds Lowered
BOX changed the monthly QCC (Qualified Contingent Cross) agency-order volume thresholds so Tier 1 is 0 to 499,999 contracts and Tier 2 is 500,000 to 1,499,999 contracts, effective April 14, 2026. The per-contract rebate amounts remain the same (Rebate 1: $0.14, $0.16, $0.17; Rebate 2: $0.22, $0.25, $0.27), so some participants will reach the higher Tier 2 rebate more easily.
Easier Qualification for QCC Growth Rebate
Because Tier 2's volume threshold is reduced to 500,000 contracts, achieving Tier 2 — one qualifying condition for the QCC Growth Rebate in Section IV.D.1.b — will be easier for participants who meet the other criteria. This change may allow more participants to become eligible for the QCC Growth Rebate after April 14, 2026.
Exchange Says Liquidity Could Improve
The Exchange states the reduced Tier 2 threshold is intended to encourage more QCC order flow to BOX, which the Exchange says will result in increased liquidity on BOX to the benefit of all market participants. The Exchange filed the change on April 14, 2026 and it is effective immediately.
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