Cboe BZX Jacks Up Fees for High-Speed Trading Connections
Published Date: 3/27/2025
Notice
Summary
Cboe BZX Exchange is raising the monthly fee for its 10 Gb physical ports, which traders and firms use to connect to the exchange faster. This change kicks in right away, meaning users will pay more starting this month. If you rely on these speedy connections, get ready for a slightly bigger bill!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
10 Gb Port Monthly Fee Up $1,000
If you pay for a 10 Gb physical port to connect to Cboe BZX, the monthly fee increases from $7,500 to $8,500 per port. That is an increase of $1,000 per port each month starting with the immediate effective filing.
Fee Increase Takes Effect Immediately
The Exchange filed the change on March 13, 2025 and it became effective immediately, so the higher $8,500 monthly charge for a 10 Gb port applies starting with that filing. The SEC can still summarily suspend the change at any time within 60 days of the March 13, 2025 filing (by May 12, 2025).
Single Fee Covers Affiliate Access
A single 10 Gb physical port can be used to access Cboe BZX and its Affiliate Exchanges and only one monthly fee (the $8,500 per port) will be charged regardless of how many affiliated exchanges you access through that single port. You will not be billed separate monthly port fees per affiliated exchange for that same physical port.
1 Gb Port Fee Remains $2,500
The Exchange continues to assess $2,500 per month for a 1 Gb physical port and is not changing that fee in this filing. Firms with smaller capacity needs can continue to use the 1 Gb option at $2,500 per month.
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Key Dates
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Previous / Next Documents
Previous: 2025-05209 — Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Increase the Monthly Fee for 10 Gb Physical Ports
Cboe BYX Exchange is raising the monthly fee for its 10 Gb physical ports starting now. This change affects traders and firms using these high-speed connections, meaning they'll pay more each month for faster access. The new fees kick in immediately, so users should be ready for the updated costs.
Next: 2025-05211 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Extension Hours for BZX Early Trading Session and Addition of Early Trading Session Start Times
Cboe BZX Exchange is shaking up its Early Trading Session by starting it earlier—from 7:00 a.m. to 4:00 a.m. ET—and extending it until 8:00 a.m. They’re also adding new order acceptance hours from 2:30 a.m. to 4:00 a.m. This change helps traders get a jumpstart on the market, with no extra fees involved, starting right away!