Cboe BYX Dangles Fee Savings for Order Entry System Switcheroo
Published Date: 9/2/2026
Notice
Summary
Cboe BYX Exchange is rolling out a new Order Entry Protocol Migration Program to help its members switch smoothly from old to new order entry systems. Members who set up backup connections during this switch can earn fee credits, making the transition easier and cheaper. This change kicks in right away, so members should get ready to upgrade and save!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Fee Credit for Backup Order Ports
If you are a BYX Member or Trading Permit Holder, you can get a credit for the monthly logical port fee for a backup (Redundant Logical Port) when the Exchange initiates an order entry protocol migration. To get the credit you must notify the Exchange's Trade Desk that the port is only a backup for the Migration, cancel the Redundant Logical Port within 30 calendar days of designating it, ensure any orders/quotes on that port were due to an Exchange issue directly related to the Migration, and submit a credit request within 30 days after cancellation; the Exchange will review usage and, if eligible, apply the credit to the invoice for the billing cycle following confirmation.
Immediate Effect with 60-Day Review Window
The Exchange filed the Program on August 20, 2026 and the rule is effective upon that filing, so Members may use the Program immediately. The Securities and Exchange Commission may temporarily suspend the rule at any time within 60 days of the filing (through October 19, 2026), in which case the Commission will institute proceedings to determine whether to approve or disapprove the change.
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