Another Cboe Exchange Hikes Costs for Elite Tech Traders
Published Date: 3/26/2025
Notice
Summary
Cboe EDGX Exchange is updating its fee schedule to add charges for Dedicated Cores, special trading systems used by some market participants. This change affects traders using these Dedicated Cores and takes effect immediately, meaning they should expect new fees starting now. The update aims to keep the Exchange’s pricing clear and fair for everyone involved.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 2 costs, 1 mixed.
Tiered Dedicated Core Monthly Fees
If you are a firm using Cboe EDGX Dedicated Cores beyond the two free cores, the Exchange will charge monthly fees of $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 Exchange includes an example: 16 Dedicated Cores would cost $9,300 per month ($0 * 2 + $650 * 13 + $850 * 1).
Two Free Dedicated Cores, Port Fees Still Apply
The Exchange will provide up to two Dedicated Cores to any User at no additional Dedicated Core charge. However, the standard BOE logical port fee of $550 per port per month remains in effect and will continue to be assessed, including on the first two free Dedicated Cores.
Higher Maximum Dedicated Core Cap for Members
The Exchange increased the maximum number of Dedicated Cores Members may purchase to 120 Dedicated Cores, effective December 1, 2024. Sponsoring Members remain limited to a maximum of 35 Dedicated Cores for each Sponsored Access relationship.
Monthly Fees Billed in Full, Not Prorated
Monthly Dedicated Core fees are assessed and applied in full and are not prorated, so if you purchase Dedicated Cores during a month you will be charged the full monthly fee for that month.
Rule Effective Immediately; Commission Review
The Exchange filed the rule change on March 13, 2025 and it became effective upon filing, so the new Dedicated Core fees apply immediately; the Commission may temporarily suspend the change within 60 days and comments are invited on or before April 16, 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!
2026-16936, Eagle Point Credit Management LLC and Eagle Point Trinity Senior Secured Lending Company
2026-16951, Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule Regarding Certain Free Trials
Cboe C2 Exchange is changing its free trial offer for certain market data. Instead of letting users pick any six months of past data, everyone will get the same fixed six-month period from July to December 2022. This update starts right away and helps keep things simple for traders and data users.
Previous / Next Documents
Previous: 2025-05042, Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule Regarding Dedicated Cores
Cboe EDGA Exchange is updating its fee schedule to add charges for Dedicated Cores, a special service for traders who want faster, exclusive access. This change affects traders using these Dedicated Cores and takes effect immediately, meaning they should expect new fees starting now. It’s all about keeping things fair and clear while supporting speedy trading.
Next: 2025-05044, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule Related To Add/Remove Volume Tiers
Cboe EDGX Exchange is changing its fee schedule to update how traders qualify for certain volume discounts and adjust fees for some hidden trades. These changes affect traders who add or remove orders on the exchange and take effect immediately, potentially saving or costing them more depending on their trading volume. The goal is to keep fees fair and encourage better market quality starting now.