Cboe BYX Adds Fees for Dedicated Trading Cores
Published Date: 5/27/2025
Notice
Summary
Cboe BYX Exchange is updating its fee schedule to add charges for Dedicated Cores, which are special trading connections 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 helps the Exchange cover costs and keep things running smoothly.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
New monthly tiered fees for Dedicated Cores
If your firm uses more than two Dedicated Cores, the Exchange will charge monthly fees: $650 per Dedicated Core for cores 3–10, $850 per Dedicated Core for cores 11–15, and $1,050 per Dedicated Core for 16 or more. The Exchange says fees are assessed in full each month and are not prorated; for example, 11 Dedicated Cores would be charged $6,050 per month.
Two Dedicated Cores provided free to all Users
The Exchange will provide up to two Dedicated Cores to every User at no additional Dedicated Core charge. Use of Dedicated Cores is voluntary and not required to trade on the Exchange.
BOE port fees remain unchanged at $550/month
The Exchange will continue to assess the standard BOE logical port fee of $550 per port per month, and that port fee still applies even on the first two Dedicated Cores provided at no Dedicated Core charge.
Member cap raised to 120 Dedicated Cores; Sponsoring cap stays 35
The Exchange increased the maximum number of Dedicated Cores a Member may purchase to 120, effective December 1, 2024. Sponsoring Members remain limited to a maximum of 35 Dedicated Cores for each Sponsored Access relationship.
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