Cboe EDGX Begins Billing for Clock Synchronization
Published Date: 6/12/2026
Notice
Summary
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This change affects both members and non-members who want accurate timing for their trades and data.
Analyzed Economic Effects
5 provisions identified: 1 benefits, 3 costs, 1 mixed.
Monthly Clock Service Fee
If your firm subscribes to Cboe's Clock Service, the Exchange will charge $7,500 per month for the service starting May 18, 2026. That monthly fee includes a single 1 Gbps physical port to receive the Clock Service signal and firms may cancel at any time.
Optional Redundant Connection Fee
If your firm wants a backup Clock Service connection, Cboe will charge an optional $2,500 per month for a redundant 1 Gbps physical port. Firms may buy multiple secondary connections and this fee is charged in addition to the $7,500 monthly service fee.
One-Time HATI Licensing Setup Fee
If your firm does not use a Safran White Rabbit switch, you must pay a one-time High-Accuracy Timing IP Core (HATI) setup license fee of $5,000 for each physical connection to use the Clock Service. For example, if you need licensing 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 get a 30-day free trial that waives the $7,500 Clock Service monthly fee for the first 30 days, but firms still must pay any one-time HATI setup fee ($5,000 per connection) and any fees for additional connections. The trial applies only to subscribers who have never before subscribed.
Service Features and Port Restrictions
The Clock Service provides a White Rabbit time signal via a 1 Gbps physical port (included with the $7,500 fee) so subscribers can synchronize their primary clocks to the Exchange at a more granular (sub-nanosecond) level, and the port must be used solely for the Clock Service (not for order routing). The service is available to Members and non-Members and can be used for all eight Cboe exchanges.
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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
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Previous / Next Documents
Previous: 2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
Next: 2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.