Stock Exchange Slaps Fees on Order Cancellation Snooping Report
Published Date: 9/9/2025
Notice
Summary
Cboe BZX Exchange is starting to charge fees for its new All Cancels Report, which shows detailed timing info about order cancellations. This change affects traders and firms using this data and took effect on August 25, 2025. If you rely on this report, expect a new cost when accessing it.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
New $1,000/month data fee
If your firm (a Member or Sponsored Participant) subscribes to the All Cancels Report, you will be charged a monthly flat fee of $1,000. This fee was adopted effective August 25, 2025 and applies to any subscribing firm.
Bundled price: both reports $1,500
If a subscribing firm wishes to purchase both the Missed Cancels Report and the All Cancels Report, the Exchange charges a bundled monthly flat fee of $1,500. The standalone Missed Cancels Report price remains $1,000, and the bundle pricing was adopted effective August 25, 2025.
All Cancels Report gives comprehensive cancel data
The All Cancels Report includes all cancel-related messages sent by the subscriber (cancel, cancel rejected, purge/mass cancel records) regardless of timing or relation to a trade, and it does not include any trade or aggressor information. This gives subscribing firms a more comprehensive view of cancel behavior across market scenarios.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
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!
2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.
2026-11809 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.
Previous / Next Documents
Previous: 2025-17248 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Approving a Proposed Rule Change To Amend Rule 11.23 Regarding the Closing Auction
Cboe BZX Exchange is updating its rules for the Closing Auction, changing how certain orders (LLOC and LOC) are priced and when traders can enter, change, or cancel them. This affects traders using these special order types and aims to make the closing price fairer and clearer. The new rules kick in soon with no extra costs, helping everyone wrap up trading smoothly at 4 p.m. each day.
Next: 2025-17250 — 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
Cboe EDGX Exchange is starting to charge fees for its new All Cancels Report, which shows detailed timing info about order cancellations. This change affects traders and firms using this data and took effect on August 25, 2025. If you rely on this report, expect a new cost when accessing it.