Cboe Cuts Error Review Fee, But Only If You're Right
Published Date: 9/14/2026
Notice
Summary
Starting September 1, 2026, Cboe C2 Exchange is slashing the fee for reviewing big trading mistakes from $5,000 down to $500—but only if the review panel agrees with the original decision. This change helps traders save money when their cases are upheld, making the process fairer and less costly. Anyone involved in trading on C2 will feel the impact, with quicker, cheaper error reviews.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Catastrophic Error Fee Cut to $500
Effective September 1, 2026, the Exchange will remove the $5,000 charge that applied in connection with an initial catastrophic error review. Instead, if the Obvious Error Panel or Catastrophic Error Panel votes to uphold the decision on appeal, the Trading Permit Holder who requested the appeal will be charged $500.
Pass-Through of Other Market-Center Charges
Effective September 1, 2026, when the Exchange requests a determination from another market center that a transaction is clearly erroneous, the Exchange will pass any resulting charges from that market center through to the relevant Trading Permit Holder. This means Trading Permit Holders may be billed for charges imposed by other venues in those cases.
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Previous: 2026-18663, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule
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Next: 2026-18665, Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend its Fees Schedule and Exchange Rule 6.5
Cboe Exchange is updating its fee rules starting September 1, 2026. They’re adding MX2 LLC to a special fee code, removing the old Catastrophic Error Review Fee, and replacing it with a smaller $500 fee if an error review decision is upheld. These changes affect traders and firms using Cboe Options and aim to make fees fairer and clearer.