Cboe BZX's Fee Tweak: Bureaucracy's Latest Yawn-Inducing Update Hits Traders
Published Date: 2/19/2026
Notice
Summary
Cboe BZX Exchange is updating its fee schedule to add a new fee code and remove outdated info, making sure it follows new rules that started on February 2, 2026. This change affects traders using the BZX equities platform and keeps fees clear and fair. The update took effect right away, so everyone should check the new fees now!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Fees Determined Using Prior Month Volume
If you trade on the Cboe BZX equities platform (you are a BZX Member), the Exchange will calculate transaction fees and rebates using quoting and trading activity from the prior month so that the fee or rebate for an execution can be known at the time of execution. New Members will receive base rates in their first month of trading. This change is effective February 2, 2026.
New AM Fee Code for LMM Auction Orders
If you are a Lead Market Maker (LMM) on BZX, the Exchange will add fee code AM to LMM orders that execute in the Closing Auction or continuous book orders that execute in the Opening Auction; orders with fee code AM will transact for free and billing processes will be simplified. The Exchange says this does not change the current fee assessed or rebate provided to an LMM. This change is effective February 2, 2026.
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
2026-12163, 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!
2026-16853, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Its Price List
The New York Stock Exchange is changing its price rules starting August 11, 2026. They’re tweaking the share amount needed to get free late D Orders at the market close and cleaning up some wording. This affects traders using these order types and could save or cost them money depending on their order size.
2026-16855, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Equity 4, Rule 3100 Regarding Trading Halts
Previous / Next Documents
Previous: 2026-03239, Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of a Proposed Rule Change To Amend Rule 915
NYSE American wants to update its rules to allow options trading on a new kind of fund that holds multiple cryptocurrencies. This change affects investors interested in crypto-based products and aims to keep NYSE American competitive with other exchanges. The rule change was filed in early February 2026 and could open up fresh trading opportunities without extra fees.
Next: 2026-03241, Privacy Act of 1974; System of Records
The Surface Transportation Board is launching a new cloud-based system to make buying and paying for things faster and easier. This system keeps track of payments to vendors and helps prevent mistakes or fraud. It’s effective now, but some parts kick in April 1, 2026, and they want your feedback by then!