# 2025-15740: Cboe BZX Rolls Out Enhanced Timestamp Service

2025-15740, Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a New Market Data Report, is a Federal Register notice from Securities and Exchange Commission published 2025-08-19, effective 2025-08-05; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-15740
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-15740
- Title: Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a New Market Data Report
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 40406
- Published: 2025-08-19
- Effective: 2025-08-05
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Cboe BZX Rolls Out Enhanced Timestamp Service

## Summary

Cboe BZX Exchange is adding a new report to its Timestamping Service that helps market participants track order and cancel times more precisely. This change affects traders and firms using BZX’s data and starts right away with no extra fees announced. It’s all about giving users clearer, faster info to make smarter trading moves.

## Effects PRIA read

- New 'All Cancels' Market Data Report: benefit, medium. The Cboe BZX Exchange is adding an optional All Cancels Report to its Timestamping Service that shows detailed cancel-related messages and timestamps (e.g., Message Type, Firm ID, Cboe Order ID, multiple Exchange system timestamps). The report is intended for subscribing market participants and wil…
- Subscription Fees Based on Reports Selected: cost, medium. The All Cancels Report is optional and the Exchange will assess fees based on the number of Timestamping Service reports a subscriber elects to receive. The Exchange stated it will submit a separate filing proposing the specific fees for the All Cancels Report.
- Data Is Historical (T+1), Not Real-Time: cost, low. The All Cancels Report will not include real-time market data; it will contain historical data from the prior trading day and will generally be available on a T+1 basis. It therefore cannot be used for real-time trading decisions.
- Report Contains Only Your Firm's Data: benefit, low. The All Cancels Report will include only the subscribing (Recipient Firm)'s own cancel-related message data and will not include information related to any other firm. The Exchange will restrict other market participants from receiving another participant's data.
- Sponsored Participants Can Subscribe Directly: benefit, low. The Exchange clarified that Sponsored Participants may directly subscribe to Timestamping Service reports (including the All Cancels Report) and be charged accordingly, rather than relying on a Member to subscribe and pass along data.

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## Sources
- [2025-15740 on federalregister.gov](https://www.federalregister.gov/documents/2025/08/19/2025-15740/self-regulatory-organizations-cboe-bzx-exchange-inc-notice-of-filing-and-immediate-effectiveness-of)
- [2025-15740 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-08-19/pdf/2025-15740.pdf)

## Related
- [Previous: 2025-15739, Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and I…](https://policyrisk.com/federal-register/2025-15739)
- [Next: 2025-15742, Pesticide Product Registration; Receipt of Applications for New Uses (June 2025)](https://policyrisk.com/federal-register/2025-15742)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-15740 (as of 2026-06-08).