Cboe Adds Clarity to Retail Trading Membership Rules
Published Date: 4/10/2025
Notice
Summary
Cboe EDGX Exchange is updating its fee schedule to make the rules clearer for the Retail Equities Membership Program. This change affects new members by setting a rule that they can’t have been approved as a retail member in the last 18 months. The update is effective immediately and helps everyone understand the program better without changing fees.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Retail membership 18‑month rule clarified
The Exchange clarified that the 18‑month eligibility rule for the EDGX Retail Membership Program counts prior approval as a Retail Member Organization (RMO) specifically. This means a participant who was an EDGX Equities Exchange member and later became an RMO may be eligible based on the date they were approved as an RMO (the rule uses an 18‑month lookback). The change took effect immediately upon the filing on March 27, 2025.
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