Cboe C2 Charges for Cancel Chaos: Traders Foot the Data Bill
Published Date: 9/8/2025
Notice
Summary
Cboe C2 Exchange is starting to charge fees for its new All Cancels Report, which shows detailed timing info on orders and cancellations. This change affects traders who use the Cboe Timestamping Service and kicks in immediately as of August 25, 2025. If you’re a Trading Permit Holder, expect to pay for this helpful new data starting now!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Monthly $1,500 Fee for Report
Trading Permit Holders (TPHs) who subscribe to the new All Cancels Report must pay a monthly flat fee of $1,500, effective August 25, 2025. If a subscription starts mid-month, the fee will be prorated based on the subscription start date.
All Cancels Report: New Detailed Cancel Data
The Exchange is offering a new All Cancels Report (available to TPHs) that lists cancel-related messages originated by the subscriber, including cancel, cancel rejected, and purge/mass cancel records regardless of timing or whether a trade occurred. The report includes these data elements: Message Type; Date; Recipient Firm ID; Session Sub ID; Client Identifier; Cboe Order ID; Symbol; Exchange System Timestamps (multiple timestamp types); Matching Unit number; Queued flag; and Port Type. The report will not include any trade records or aggressor information.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
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!
2026-16781, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Sections 303A.00 and 303A.07 of the NYSE Listed Company Manual
The New York Stock Exchange (NYSE) is giving listed companies more time to set up their internal audit teams, which help keep an eye on risks and controls. This change affects all companies listed on the NYSE and aims to make the transition smoother without rushing. No new costs or deadlines are added yet, but companies should prepare for the updated timeline once it’s official.
2026-16784, Self-Regulatory Organizations; The Depository Trust Company; Order Approving Proposed Rule Change To Amend the Redemptions Service Guide and the Operational Arrangements (Necessary for Securities To Become and Remain Eligible for DTC Services)
Previous / Next Documents
Previous: 2025-17101, National Register of Historic Places; Notification of Pending Nominations and Related Actions
The National Park Service wants your thoughts on historic places nominated before July 26, 2025, to be added to the National Register. If you care about preserving cool old buildings or sites, now’s your chance to speak up! This process helps protect history without costing you a dime, but don’t wait—comments close soon.
Next: 2025-17103, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for the All Cancels Report
Starting August 25, 2025, Cboe EDGX Exchange is charging fees for its new All Cancels Report, which shows detailed timing info on canceled orders. This change affects traders and firms using the Cboe Timestamping Service, helping them track order activity better while paying a small new fee. The Exchange made this move to cover costs and keep the data service running smoothly.