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.
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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.
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