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.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
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!
2026-10241 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the DTC Operational Arrangements (Necessary for Securities to Become and Remain Eligible for DTC Services)
The Depository Trust Company (DTC) is updating its rules to make it easier and clearer for agents handling corporate offers like tenders and subscriptions through its automated systems. This change affects companies and agents using DTC services to process these offers and starts right away with no extra costs. It’s all about smoother, faster, and more reliable processing for everyone involved!
2026-10244 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Fee Schedule Applicable to Members Concerning Equities Transaction Pricing
Investors Exchange (IEX) is updating its fee schedule starting June 1, 2026. Members who trade stocks will see changes in how they qualify for rebates and fee discounts based on their trading volume. These tweaks aim to make fees fairer and encourage more trading activity on the exchange.
2026-10245 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 3120 To Increase the Position and Exercise Limits for Options on the iShares Bitcoin Trust ETF
BOX Exchange is raising the limits on how many options traders can hold and exercise for the iShares Bitcoin Trust ETF. This change lets bigger players trade more freely and takes effect immediately, matching similar moves by other exchanges. If you trade these options, get ready for bigger opportunities starting now!
2026-10129 — The Goldman Sachs Group, Inc.
Goldman Sachs is asking the SEC for special permission to create investment funds just for its employees, letting them skip some usual rules. This change mainly affects Goldman Sachs workers and could speed up how these funds work without changing important protections. If no one objects by June 12, 2026, the SEC will approve this request.
2026-10168 — Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17a-2
The SEC is asking to keep the rules that require underwriters to keep records about certain stock market activities for three years. About 647 companies spend around 3,235 hours and $530,000 yearly to follow these rules. This extension keeps things running smoothly without adding new costs or changes.
Previous / Next Documents
Previous: 2025-06113 — Proposed Collection; Comment Request
The Railroad Retirement Board wants your thoughts on updating a form used to claim unpaid benefits when a railroad worker passes away. If you or someone you know might apply for these benefits, this update could make the process clearer and easier. They’re asking for comments now to make sure the form works well and doesn’t waste anyone’s time or money.
Next: 2025-06115 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt Exchange Rule 2005, Error Accounts
MIAX Sapphire is rolling out a new rule to handle mistakes made by Floor Brokers on the trading floor, making sure error accounts are clear and well-managed. They also fixed a small wording issue in an existing rule to keep things neat. This change kicks in right away and helps keep trading smooth and fair for everyone involved.