Cboe EDGX Hikes Fees on Options Data Feeds Again
Published Date: 1/15/2026
Notice
Summary
Cboe EDGX Exchange is updating its fees for certain market data feeds that traders and firms use to get options trading info. These changes start right away and could affect how much users pay for data from EDGX’s Simple Book and Complex Order Book feeds. If you rely on these feeds, keep an eye on your costs starting January 2026!
Analyzed Economic Effects
5 provisions identified: 1 benefits, 4 costs, 0 mixed.
Higher Distributor Monthly Fees
If you distribute EDGX options market data, the Exchange now charges Internal Distributors $1,250.00 per month and External Distributors $1,000.00 per month for EDGX Options Top, Depth, and Auction. These changes were filed on January 2, 2026 and are effective immediately.
Separate Complex Feed Charges
Distributors will no longer receive free access to Complex Order Feeds just because they distribute a Simple Book Feed. To access each Complex Order Feed you must pay $1,250/month (internal) or $1,000/month (external); these Complex Order Feed distribution fees are effective as filed January 2, 2026.
Enterprise Tier Prices for Top Feed
EDGX Options Top has enterprise pricing tiers: Tier 1 (0–1,500,000 users) $20,000/month; Tier 2 (1,500,001–2,500,000 users) $40,000/month; Tier 3 (greater than 2,500,001 users) $60,000/month. These Enterprise Fee tiers were proposed in the filing submitted January 2, 2026.
User Fees for Professional and Non-Professional
EDGX Options Top user fees remain $5.00/month per Professional User and $0.10/month per Non-Professional User. EDGX Options Depth, EDGX Options Auction, and each Complex Order Feed will charge $20.00/month per Professional User and $1.00/month per Non-Professional User, effective as filed January 2, 2026.
New Distributor Credits and Trial Rules
New External Distributors of EDGX Options Top will not be charged the External Distribution Fee for their first three months. External Distributors may also receive a Distributor Fee Credit that offsets their External Distribution Fee by their monthly User Fees or Enterprise Fee up to the External Distribution Fee, but these credits do not apply during trial usage or while receiving the New External Distributor Credit; changes filed January 2, 2026.
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Key Dates
Department and Agencies
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Starting January 2, 2026, NYSE Arca is updating its options fees to include certain registration system fees collected by FINRA. This change affects traders using NYSE Arca options and means some fees will reflect these new costs. It’s a quick update to keep fees in line with industry rules, so get ready for a small shift in your trading expenses!
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Nasdaq PHLX is rolling out two new data feeds—the Trades Feed and the Spread Feed—and setting fees for them starting January 1, 2026. Traders, brokers, and market data users will need to pay to access these fresh streams of info. The new fees kick in right away, so get ready to budget for these updates!