Cboe BZX Slashes Fees for Academics on Equity Trade Data
Published Date: 5/7/2025
Notice
Summary
Cboe BZX Exchange is giving a special discount to qualified academic buyers who want to purchase historical U.S. stock short volume and trade reports. This change helps students and researchers get important market data at a lower cost starting immediately. If you’re part of an academic institution, you can save money on these reports right now!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Academic discount for historical short-volume data
If you are a qualifying academic purchaser, you can buy historical U.S. Equity Short Volume and Trades Reports at a discounted price equal to either a 50% discount off your total purchase or $500, whichever is greater. This academic pricing applies to historical reports (monthly or multi-month purchases) and is available immediately after the filing.
Who qualifies — academic eligibility and exclusions
To get the academic price you must be an accredited academic institution using the data for independent academic research, publications, teaching, classroom use, or other bona fide educational purposes, and the data use must be limited to the institution's faculty and students. Academic pricing is not available for commercial/profit-seeking uses or for purchasers whose research is funded by a securities industry participant, and applicants must submit a brief application for Exchange approval.
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
2026-10373 — 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!
2026-11567 — Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to the Treasury Clearing Service Initial Margin Approach Model Description Document, Treasury Clearing Service Guaranty Fund and Stress Test Approach Model Description Document, and Treasury Clearing Service Risk Parameter Setting and Review Policy
ICE Clear Credit is updating the rules and documents that explain how it manages risks for U.S. Treasury trades. These changes affect banks and traders who use ICE’s Treasury Clearing Service by improving how initial margin, guaranty funds, and stress tests are handled. The updates aim to keep the system safe and sound, with no immediate cost changes, and are set to take effect soon after approval.
2026-11568 — Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Fee Schedule Concerning Options Transaction Pricing
MEMX is shaking up its options trading fees by removing the Volume Tier 1 discount starting June 1, 2026. This change affects all MEMX members who trade options, potentially changing how much they pay per trade. The update kicks in immediately, so traders should check their costs and adjust fast!
2026-11570 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Cboe 2 Exchange, Inc.; Cboe BZX Exchange, Inc.; Cboe EDGX Exchange, Inc.; Cboe EDGA Exchange, Inc.; Cboe BYX Exchange, Inc.; Declaration of Effectiveness of the Fingerprint Plan of Cboe Exchange, Inc.; Cboe 2 Exchange, Inc.; Cboe BZX Exchange, Inc.; Cboe EDGX Exchange, Inc.; Cboe EDGA Exchange, Inc.; and Cboe BYX Exchange, Inc.
Cboe Exchanges are updating their fingerprint plan to use a new, modern FBI-approved service instead of their old system that's been around for 20+ years. This change affects partners, directors, officers, and employees of member firms and will help keep fingerprint processing smooth and secure. The new plan is now officially effective, with no extra costs announced, making the switch seamless and timely.
Previous / Next Documents
Previous: 2025-07909 — Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Update Its Fee Schedule To Provide a Discount on Fees Assessed to Qualifying Academic Purchasers for Purchases of Ad Hoc Historical U.S. Equity Short Volume and Trades Reports
Cboe BYX Exchange is giving a special discount to qualified academic buyers who want to purchase historical U.S. stock short volume and trade reports. This change helps schools and researchers save money when accessing important market data. The new discounted fees are effective immediately, making it easier and cheaper for academics to get the info they need.
Next: 2025-07911 — Self-Regulatory Organizations; ICE Clear Credit LLC; Order Approving Proposed Rule Change Relating to ICC's Risk Parameter Setting and Review Policy and the Risk Management Model Description
ICE Clear Credit LLC (ICC) got the green light to update how it sets and reviews the rules that keep financial risks in check when clearing credit contracts. These changes help ICC better manage money safety for its members, with no extra costs or delays expected. This means safer trading for everyone involved, starting right away!