BZX Discounts Short Sale Data for Bulk Buyers
Published Date: 8/12/2025
Notice
Summary
Cboe BZX Exchange is giving a temporary discount to anyone—members or not—who buys $20,000 or more of their U.S. Equity Short Volume and Trade Reports. This means big buyers get a break on fees for these special market data reports starting now. It’s a smart move to help traders and firms save money while staying informed about short selling activity.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
20% Temporary Discount for Big Buyers
Between July 29, 2025 and September 30, 2025, anyone (Members and non-Members) who makes an ad-hoc purchase of $20,000 or more of historical U.S. Equity Short Volume and Trades Reports receives a 20% discount. The discount is applied order-by-order to the total purchase price once the $20,000 minimum is met (for example, a $25,000 qualifying order would be discounted by $5,000).
Historical Data Use Restricted — No Resale
Historical Short Volume Reports sold for display use may not be charged for separately or incorporated into a purchaser's product; the historical Short Volume Report is for display use redistribution only. Purchasers of historical data are therefore not permitted to resell the data or embed it into a separate product they charge for.
Standard Monthly Fees for Short Volume Reports
The Exchange charges $750 per month for an Internal Distributor and $1,250 per month for an External Distributor for the Short Volume Report; historical reports are available for $500 per month. These are the stated recurring monthly fee amounts for subscribing to the Short Volume Report products.
Discount Cannot Be Stacked With Others
The 20% discount for historical Short Volume Reports cannot be combined with any other discounts offered by the Exchange. The program applies equally to new and current purchasers but is not stackable with other Exchange discounts.
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