Cboe Exchange Tweaks Fees for Market Data Services Effective Now
Published Date: 1/7/2026
Notice
Summary
Cboe BYX Exchange is updating its fees for the Cboe One market data feeds to make it clearer how User Fees apply and get credited. This change affects anyone who pays for these data services and takes effect immediately, helping users understand their costs better. No big price jumps, just smarter fee rules starting now!
Analyzed Economic Effects
4 provisions identified: 2 benefits, 2 costs, 0 mixed.
Summary Fees Can Credit Premium Fees
Cboe BYX clarified that Cboe One Summary User Fees can be applied as a credit against either the Cboe One Summary External Distribution Fee ($5,000/month) or the Cboe One Premium External Distribution Fee ($12,500/month). For example, $4,500 in Summary User Fees could reduce a $5,000 Summary Distributor fee to $500, or reduce a $12,500 Premium Distributor fee to $8,000.
Credit Intended to Broaden Retail Access
The Exchange states the credit is intended to incentivize External Distributors to enlist Users, including Non-Professional Users (such as retail investors), to subscribe to Cboe One Summary or Cboe One Premium, thereby broadening distribution of the feeds.
Premium User Fees Only Offset Premium Costs
Cboe BYX stated Cboe One Premium User Fees may only be applied as a credit against the Cboe One Premium External Distribution Fee (the $12,500/month Premium Distributor fee), and cannot be applied to the Summary External Distribution Fee.
External-Only Credit Eligibility
The External Distribution Fee credit applies only to External Distributors (those distributing data to third parties) and is not available for Internal Distributors (those distributing data only within their own firm).
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
2026-07651 — 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!
2026-09992 — Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 611
The SEC is asking to keep collecting info from about 305 financial firms to make sure they follow Rule 611, which stops bad trades that hurt investors. These firms spend around 60 hours a year updating their rules to avoid trading at worse prices than others. This extension keeps things running smoothly with an estimated yearly cost of about $9.5 million for legal and compliance work.
2026-09960 — Self-Regulatory Organizations; MIAX Emerald, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Exchange Rule 515A, MIAX Emerald Price Improvement Mechanism and PRIME Solicitation Mechanism
MIAX Emerald is updating its rules to let Market Makers join special auctions called PRIME and cPRIME as potential trading partners. This change helps speed up trades and could improve prices for investors using these options. The new rule took effect right after filing on May 1, 2026, so Market Makers and traders should get ready for smoother, faster deals!
2026-09967 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Chapter 8 of the Exchange's Rulebook Relating To Investigative and Disciplinary Matters
Cboe EDGX Exchange is updating its rules about how it investigates and disciplines its members and their associates. These changes clarify who the Exchange can discipline and improve the process to keep things fair and clear. The new rules took effect right after filing on May 4, 2026, with no new fees involved.
2026-10015 — U.S. Bancorp, et al.; Notice of Application and Temporary Order
U.S. Bancorp and its partners got a temporary green light to keep doing some fund services despite a court order against BTIG from 2022. This temporary okay lasts until the SEC decides on a permanent solution, so things keep running smoothly without money hiccups. If you want to speak up, you’ve got until June 9, 2026, to ask for a hearing.
2026-09990 — Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend 24X Rule 1.5(c) To Extend by Seven (7) Months the Deadline by Which 24X Must File With the Commission the 24X Market Session Proposed Rule Change Regarding the Commencement of the 24X Market Session
24X National Exchange is getting an extra seven months to file a rule change about when their market session starts. This gives them more time to get everything just right before sharing it with the SEC. Traders and market watchers should keep an eye out for updates, but no money changes or risks are happening right now.
Previous / Next Documents
Previous: 2026-00039 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Cboe One Fees
Cboe BZX Exchange is updating its fee rules for the Cboe One market data feeds to make it clearer how User Fees apply and get credited. This change affects anyone who pays for or distributes these data feeds and takes effect immediately, helping users understand their costs better. No big price hikes, just smarter fee details starting now!
Next: 2026-00041 — Application for a Recordable Disclaimer of Interest for Lands Underlying Portions of the Kwethluk River in Alaska
The State of Alaska wants the U.S. government to officially say it doesn’t own the land under parts of the Kwethluk River. This could change who controls these riverbed areas near Kwethluk, Alaska. People have until February 6, 2026, to share their thoughts before a decision is made after April 7, 2026.