SEC Greenlights Multi-Exchange Data Center Fee Adjustments
Published Date: 11/21/2025
Notice
Summary
Several big stock exchanges, including the New York Stock Exchange and Cboe, got the green light to update their rules about hardware and managed services in their co-location data centers. These changes affect traders and firms using these facilities by adjusting fees and services, starting as soon as October 20, 2025. This means smoother tech setups and clearer costs for market players, with no surprise delays or extra charges announced.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
NYSE Adds Colocation Hardware Services
Several NYSE entities amended their Connectivity Fee Schedule to add 'Hardware Procurement Services' and 'Managed Services' for their co-location facilities; those proposed changes are deemed approved as of October 20, 2025.
Exchanges Permit Options on Commodity Trust Shares
Multiple exchanges amended rules to permit the listing and trading of options on Commodity-Based Trust Shares; these proposed rule changes were deemed approved on the dates shown in Table 2, with approvals occurring between October 24, 2025 and November 14, 2025.
BYX Expands Retail Price Improvement
Cboe BYX modified Rule 11.24 to introduce an Enhanced Retail Price Improvement (RPI) Order and to expand its Retail Price Improvement Program to include securities priced below $1.00; that proposed rule change was deemed approved as of November 15, 2025.
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