Exchange Offers Free Trial for Its New Paid Clock Service
Published Date: 6/12/2026
Notice
Summary
Cboe Exchange just rolled out a new Clock Service that helps users sync their time systems for better trading accuracy. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get you started. This affects both members and non-members who want precise timing in their trading activities.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 3 costs, 0 mixed.
Clock Service: $7,500/month
If your firm subscribes to Cboe's Clock Service, the monthly fee is $7,500 starting May 18, 2026. The fee includes a single 1 Gbps physical port (for receiving the time signal only), the service is optional, and subscribers may cancel at any time.
Optional Redundant Connection: $2,500/month
Cboe offers an optional redundant Clock Service connection (an additional 1 Gbps physical port) for $2,500 per month. Firms may purchase one or multiple redundant connections to supplement the primary service.
HATI One-Time Setup: $5,000 per Connection
Cboe charges a one-time High-Accuracy Timing IP Core (HATI) licensing set-up fee of $5,000 for each physical connection when required (for participants that do not use a Safran White Rabbit-enabled switch). The Exchange states that if licensing is required for two connections, the one-time cost would be $10,000.
30-Day Free Trial for New Subscribers
First-time subscribers to Cboe Clock Service receive a free 30-day trial of the Clock Service fee beginning May 18, 2026. The trial does not waive the one-time HATI set-up fee or charges for any additional Clock Service connections.
Single Subscription Covers All Eight Cboe Exchanges
The Clock Service subscription can be used to receive time signals for the Exchange and its affiliated equities and options exchanges, meaning a subscriber can receive the service for all eight Cboe exchanges under the subscription. Cboe emphasizes this cross-exchange coverage in comparing its pricing to a comparable single-exchange offering.
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Department and Agencies
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Previous: 2026-11807, Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe C2 Exchange is rolling out a new Clock Service and setting fees for it starting now. Traders and firms using this service will see new charges, helping the exchange cover costs and keep things running smoothly. The changes take effect immediately, so users should get ready to budget for these new fees.
Next: 2026-11809, Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.