Cboe Shifts Silexx API to Tiered Usage-Based Fees
Published Date: 5/1/2026
Notice
Summary
Starting March 2, 2026, Cboe Exchange is switching from a flat monthly fee to a usage-based tiered pricing for its Silexx API. This means traders and firms using the API will pay based on how much they use it, making fees fairer and more flexible. If you use the Silexx API, get ready for a new way to pay that could save you money or cost a bit more depending on your activity.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
Flat $200 API Fee Replaced by $299–$999 Tiers
Starting March 2, 2026, the flat Silexx API fee of $200 per month per login ID will be replaced by three monthly tiers: Tier 1 = $299, Tier 2 = $699, and Tier 3 = $999 per login ID. All login IDs default to Tier 1 unless a user elects otherwise; the filing notes an example firm payment of $5,291 for a mix of four Tier 1, three Tier 2, and two Tier 3 IDs.
Rate Limits, Daily Caps, and $0.01 Overage Charge
The tiers set per-minute rate limits and firm-level daily caps: Tier 1 = 200 calls/min with 20,000 daily cap; Tier 2 = 2,000 calls/min with 200,000 daily cap; Tier 3 = 2,000 calls/min with no daily cap. For Tier 1 and Tier 2, calls above the daily cap are charged $0.01 per call; Tier 3 has no daily overage fee. If a login ID hits the per-minute cap it will be rate-limited until the next minute.
Tier Choice and Mid-Month Billing Rule
All login IDs will default to Tier 1, but users may elect a higher tier at any time. If a user switches to a higher tier mid-month, the higher-tier monthly fee applies for the entire month. The Exchange states API use is optional and the tiers are available to all users on an equal basis.
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