Exchange Starts Charging for Precision Trading Clocks
Published Date: 6/12/2026
Notice
Summary
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.
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 and access to the Clock Service for all eight Cboe exchanges.
Optional Redundant Connection Fee
Cboe will offer an optional redundant Clock Service connection for $2,500 per month starting May 18, 2026. Firms may buy one or more of these additional 1 Gbps physical ports to provide a backup connection.
One-Time HATI Setup Fee
Firms that do not use a Safran White Rabbit-enabled switch must pay a one-time High-Accuracy Timing IP Core (HATI) licensing set-up fee of $5,000 for each physical connection. For example, if a firm requires licensing for two connections, it would pay $10,000 one time.
30-Day Free Trial for New Subscribers
First-time subscribers get a 30-day free trial of the Cboe Clock Service starting with their initial subscription; this free trial applies only to the Clock Service monthly fee. During the 30-day trial, subscribers remain responsible for any one-time HATI set-up fees and any charges for additional connections.
Mid-Month Proration and Cancellation Terms
Monthly Clock Service fees will be prorated for mid-month subscriptions based on the subscription start date, but the one-time HATI set-up fee is not prorated. Subscribers may cancel the Clock Service at any time.
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!
2026-15281, Agency Information Collection Activities; Proposed Collection; Comment Request; Extension: Rule 15c2-1
2026-15247, Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Pursuant to IEX Rule 15.110(a) and (c) To Amend the Exchange's Fee Schedule
Previous / Next Documents
Previous: 2026-11813, Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
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.
Next: 2026-11815, Self-Regulatory Organizations; Nasdaq PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Options 7, Sections 2, 5 and 9B
Nasdaq PHLX is updating its options pricing rules to change how customer rebates, index options fees, and port fees work. These changes affect traders using the exchange by adjusting rebate tiers and fees, aiming to keep things fair and clear. The new rules took effect right after filing on May 27, 2026, so traders should check how these updates might impact their costs.