Cboe C2 Increases Customer Options Fee to Half Cent
Published Date: 7/17/2026
Notice
Summary
Cboe C2 Exchange is changing how it charges the Options Regulatory Fee (ORF) starting July 1, 2026. The fee will go up from $0.0003 to $0.0005 per options contract that clears in the customer range. This affects traders using the Exchange and means a slightly higher cost for each options trade.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
ORF Rate Rises to $0.01417/Contract
Starting July 1, 2026, Cboe C2 will charge an Options Regulatory Fee (ORF) of $0.01417 per options contract that executes on the Exchange and clears in the customer range. This replaces the prior $0.0003 per-contract method and the Exchange expects clearing firms (CTPHs) will pass the fee through to their customers.
ORF Assessed Only on On‑Exchange Customer Trades
Beginning July 1, 2026, Cboe C2 will assess the ORF only for customer‑range options transactions that occur on Cboe C2 and clear in the customer range at OCC. Transactions that would clear in the Firm or Market Maker ranges are not charged by C2, and customer transactions that occur on other exchanges will no longer be subject to an ORF assessed by Cboe C2.
No ORF on Outbound Linkage Trades
Cboe C2 will not assess the ORF on outbound linkage trades beginning July 1, 2026, so routed outbound trades will not incur an ORF from Cboe C2. This change applies specifically to outbound linkage executions.
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Previous / Next Documents
Previous: 2026-14398 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Options Regulatory Fee (“ORF”)
Cboe Exchange is changing its Options Regulatory Fee (ORF) starting July 1, 2026. Traders who clear customer options contracts on Cboe will pay a slightly higher fee per contract, going from $0.0023 to $0.0025. This update affects anyone trading options on Cboe and helps the Exchange cover regulatory costs more fairly.
Next: 2026-14400 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Options Regulatory Fee (“ORF”)
Starting July 1, 2026, Cboe BZX Exchange is changing how it charges the Options Regulatory Fee (ORF). The fee will go up from $0.0002 to $0.0003 per options contract that clears in the customer range. This affects traders using the Exchange and means a small increase in their trading costs right away.