Cboe BYX Rolls Out Fee for Trading Clock Sync
Published Date: 6/12/2026
Notice
Summary
Cboe BYX 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 everyone on board. This affects both members and non-members who want precise timing in their trading activities.
Analyzed Economic Effects
6 provisions identified: 2 benefits, 3 costs, 1 mixed.
Monthly Clock Service Subscription Fee
If your firm subscribes to Cboe BYX’s Clock Service, the Exchange will charge $7,500 per month for the Clock Service itself. That $7,500/month fee includes a single 1 Gbps physical port and the service became effective May 18, 2026.
Optional Redundant Connection Fee
Subscribers may buy an optional redundant Clock Service connection (an additional 1 Gbps physical port) for $2,500 per month. Firms may purchase multiple secondary connections if they choose.
One-Time HATI Licensing Setup Fee
If your firm does not use a Safran White Rabbit-enabled switch, you must pay a one-time High-Accuracy Timing IP Core (HATI) setup license fee of $5,000 for each physical connection. For example, buying the primary and a secondary connection and needing HATI licensing for both would incur $10,000 in one-time setup fees.
30-Day Free Trial for New Subscribers
First-time subscribers to the Cboe Clock Service receive a free trial for the first 30 days that waives the monthly Clock Service fee. The trial applies only to the Clock Service monthly fee; subscribers remain liable for any one-time HATI setup fees and for any additional connections during the trial.
Mid-Month Proration and Cancellation Terms
For mid-month subscriptions, monthly Clock Service fees are prorated based on the subscription start date; the proration does not apply to the one-time HATI setup fee. Subscribers may cancel the Clock Service at any time.
Included 1 Gbps Port Use Restriction and Multi-Exchange Access
The Clock Service’s included 1 Gbps physical port is provided solely to receive the Exchange’s time signal and cannot be used for other purposes (for example, order routing). The Clock Service can be used to access time signals for all eight Cboe affiliated equities and options exchanges.
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Key Dates
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Previous / Next Documents
Previous: 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.
Next: 2026-11814 — 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 launched a new Clock Service that helps users sync their time systems for better trading accuracy. Starting May 18, 2026, they’re rolling out fees for this service—but there’s a free trial to get you started! This change affects anyone who wants precise timing in trading and kicks in right away with clear costs.