Cboe BZX Updates Rules for Incoming 24X National Exchange
Published Date: 9/30/2025
Notice
Summary
Cboe BZX Exchange is updating a rule to clearly show where it gets its data for handling, routing, and executing orders, plus compliance checks. This change is to include info about the new 24X National Exchange launching on September 29, 2025. Traders and market watchers should note this update, but it won’t affect fees or timing beyond the launch date.
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
BZX Adds 24X Data to Public Feed List
The BZX Exchange updated Rule 11.26(a) to list 24X Exchange market data (from the CQS/UQDF feeds) as a source used for order handling, routing, execution, and related compliance. This update is operative upon filing (filed September 22, 2025) and reflects the 24X Exchange beginning operation on September 29, 2025.
No Fee or Timing Change from Update
The filing notes the update adds 24X Exchange data to BZX's disclosures but does not change fees or order timing beyond the 24X launch. If you trade or follow market execution, the inclusion of 24X data on BZX's public list will not increase fees or alter execution timing after the 24X launch on September 29, 2025.
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