BZX Exchange Charges Up Fees for Fast-Lane Cores
Published Date: 3/25/2025
Notice
Summary
Cboe BZX Exchange is updating its fee schedule to add charges for Dedicated Cores, special tech setups that help traders connect faster. This change affects traders using these Dedicated Cores and takes effect immediately, meaning they’ll see new fees starting now. It’s all about keeping the system fair and clear on costs.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
New tiered monthly Dedicated Core fees
If your firm uses Dedicated Cores on Cboe BZX, the Exchange will charge monthly fees after the first two free cores: $650 per Dedicated Core for cores 3–15; $850 per Dedicated Core for cores 16–30; and $1,050 per Dedicated Core for 31 or more. The filing includes an example: a firm with 16 Dedicated Cores would be charged $9,300 per month ($0 × 2 + $650 × 13 + $850 × 1).
Standard BOE port fee remains $550/month
The Exchange will continue to assess its current standard BOE logical port fee of $550 per port per month, and that $550 port fee will still apply to the first two Dedicated Cores provided at no additional Dedicated Core charge. The port fee remains unchanged.
Higher cap: Members may hold up to 120 cores
The Exchange increased the maximum number of Dedicated Cores a Member may have to 120 Dedicated Cores, effective December 1, 2024. Sponsoring Members remain limited to a maximum of 35 Dedicated Cores per Sponsored Access relationship.
Two Dedicated Cores provided free
The Exchange will provide up to two Dedicated Cores to any User who wants them at no additional Dedicated Core monthly fee. This means firms receive two Dedicated Cores without the new per-core monthly charges.
Fees effective immediately after filing
The Exchange's proposed fee changes became effective upon filing on March 13, 2025, so Users will see the new Dedicated Core fees applied immediately; the SEC may temporarily suspend the change within 60 days, and written comments are requested by April 15, 2025.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-16781, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Sections 303A.00 and 303A.07 of the NYSE Listed Company Manual
The New York Stock Exchange (NYSE) is giving listed companies more time to set up their internal audit teams, which help keep an eye on risks and controls. This change affects all companies listed on the NYSE and aims to make the transition smoother without rushing. No new costs or deadlines are added yet, but companies should prepare for the updated timeline once it’s official.
2026-16784, Self-Regulatory Organizations; The Depository Trust Company; Order Approving Proposed Rule Change To Amend the Redemptions Service Guide and the Operational Arrangements (Necessary for Securities To Become and Remain Eligible for DTC Services)
Previous / Next Documents
Previous: 2025-04975, Agency Information Collection Activities: Proposed Collection Renewal; Comment Request
The FDIC wants to keep collecting some important info and is asking everyone to share their thoughts before renewing these forms. This affects banks and the public, with no new fees or big changes, just a chance to keep things running smoothly. You’ve got until the comment period closes to speak up and help shape the process!
Next: 2025-04977, Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To (i) Introduce a New Fee Credit Under Equity 7, Section 118(a)(1) (Fees for Execution and Routing of Orders) and Amend the Fee Schedule; (ii) Introduce New Fees and Credits Under Equity 7, Section 118(b), (iii) Amend Equity 7, Section 118(e) (Opening Cross) and Introduce a New Fee Credit; and (iv) Eliminate the Excess Order Fee Credits at Equity 7, Section 118(m) and Remove Related Language in Equity 7, Section 114(d)(1)
Nasdaq is shaking up its fee schedule to make trading fairer and more rewarding! They’re adding new fee credits for certain order types, tweaking fees for the opening cross, and saying goodbye to some old excess order fee credits. These changes kick in right away and could save or cost traders a bit depending on how they trade.