# 2025-15171: More Timestamp Reports Now Up for Grabs Directly

2025-15171, Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Fees for Cboe Timestamping Service Reports To Allow Sponsored Participants To Purchase These Reports Directly, is a Federal Register notice from Securities and Exchange Commission published 2025-08-11, effective 2025-07-25; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-15171
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-15171
- Title: Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Fees for Cboe Timestamping Service Reports To Allow Sponsored Participants To Purchase These Reports Directly
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 38688
- Published: 2025-08-11
- Effective: 2025-07-25
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

More Timestamp Reports Now Up for Grabs Directly

## Summary

Starting July 25, 2025, Cboe EDGA Exchange is changing its fees so that Sponsored Participants can buy Cboe Timestamping Service reports directly. This means more flexibility for those who track order times, with no extra hassle. If you’re a Sponsored Participant, you’ll now have a smoother way to get these important reports, helping you stay on top of your trading game.

## Effects PRIA read

- Sponsored Participants May Buy Reports: benefit, low. If you are a Sponsored Participant, starting July 25, 2025 you may subscribe and be billed directly for Cboe Timestamping Service reports (the Missed Liquidity Report and the Cancels Report). Previously a Sponsoring Member had to buy the reports and filter out each Sponsored Participant's activity;…
- Monthly Prices for Timestamping Reports: cost, high. The Cancels Report costs $1,000 per month. The Missed Liquidity Report uses tiers: $1,500 per month for 1-10 subscribing ports, $2,000 per month for 11-20 ports, and $2,500 per month for 21 or more ports; these same fees apply whether a Member or a Sponsored Participant subscribes.
- Proration and Look-Back Billing Rules: cost, medium. Fees are prorated for mid-month subscriptions based on the subscription start date. Fees are assessed on a look-back basis using the maximum number of subscribing ports a firm had in the prior calendar month (for example, adding a port on September 27 after subscribing 10 ports earlier in the month…
- What Reports Contain and When Available: benefit, low. The Cancels and Missed Liquidity Reports contain only the subscribing firm's own timestamp data (no data about other firms) and do not include real-time market data. The reports are historical, generally available on a T+1 basis (after the end of the trading day), and are optional products that a f…

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## Sources
- [2025-15171 on federalregister.gov](https://www.federalregister.gov/documents/2025/08/11/2025-15171/self-regulatory-organizations-cboe-edga-exchange-inc-notice-of-filing-and-immediate-effectiveness-of)
- [2025-15171 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-08-11/pdf/2025-15171.pdf)

## Related
- [Previous: 2025-15170, Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-15170)
- [Next: 2025-15172, Notice of Proposed Subaward Under a Council-Selected Restoration Component Award](https://policyrisk.com/federal-register/2025-15172)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-15171 (as of 2026-06-08).