Cboe Updates Fee Rules to Clarify Data Credit Calculations
Published Date: 1/8/2026
Notice
Summary
Cboe EDGX Exchange is updating its fee rules to make it clearer how users get credits on their Cboe One market data fees. This change affects anyone who pays for Cboe One Summary and Premium External Distribution data, helping them understand their costs better. The new fee rules took effect right away on December 22, 2025, so users should check their bills soon!
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Summary User Fees Can Offset Premium Fees
If you pay Cboe One Summary User Fees, you can apply those User Fees 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 Cboe One Summary User Fees could reduce a $5,000 Summary External Distribution fee to a $500 net monthly fee, or reduce a $12,500 Premium External Distribution fee to $8,000.
Premium User Fees Only Offset Premium Distribution
If you pay Cboe One Premium User Fees, those Premium User Fees may be credited only against the Cboe One Premium External Distribution fee ($12,500/month). For example, $10,000 in Premium User Fees could reduce a $12,500 Premium External Distribution fee to a $2,500 net monthly fee.
Credit Applies Only to External Distributors
The External Distribution Fee credit applies only to External Distributors (those that distribute data to third parties outside their own firm). Internal Distributors (those that distribute data only within their own firm) are not eligible for this External Distributor credit.
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
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
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!
2026-17058, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Connectivity Schedule and Discontinue a Previously Proposed Offering
Previous / Next Documents
Previous: 2026-00111, Request Notice: Use of Foreign-Built Small Passenger Vessel in United States Coastwise Trade, M/V AARLUK
The U.S. Department of Transportation is asking for your thoughts on letting a foreign-built small passenger boat, the M/V AARLUK, operate in U.S. coastal waters. This could affect U.S. boat builders and businesses that use American-made vessels. You’ve got until February 9, 2026, to share your opinion before a final decision is made.
Next: 2026-00113, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a New Rule 5310
The New York Stock Exchange just added Rule 5310 to make sure brokers always get the best prices when handling your orders. This new rule, inspired by Nasdaq’s playbook, aims to protect customers and boost fair trading starting right away. If you trade or work with the NYSE, expect smoother, smarter order handling with no extra fees or delays.