# 2026-19127: Cboe Clarifies Who Counts as Data Vendors

2026-19127, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Introduce a Data Vendor Program, is a Federal Register notice from Securities and Exchange Commission published 2026-09-18, effective 2026-09-08; PRIA reads it as touching household money (as of 2026-09-25).

- Canonical: https://policyrisk.com/federal-register/2026-19127
- As of: 2026-09-25
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-19127
- Title: Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Introduce a Data Vendor Program
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 91 FR 59185
- Published: 2026-09-18
- Effective: 2026-09-08
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-09-25

## In one line

Cboe Clarifies Who Counts as Data Vendors

## Summary

Cboe EDGX Exchange is launching a new Data Vendor Program to clearly define who data vendors and service providers are, making it easier to manage market data distribution. This change affects companies that sell or share Cboe’s market data and helps keep rules clear and fair. The new rules took effect right after filing on September 8, 2026, with no immediate cost changes announced.

## Effects PRIA read

- Monthly Fee Waivers for Eligible Data Vendors: benefit, high. If you qualify as a Data Vendor, the Exchange will waive External Distribution Fees for specific feeds: $5,000 per month for Cboe One Summary for 12 months; $12,500 per month for Cboe One Premium for 24 months; $2,500 per month for EDGX Summary Depth for 24 months; and $2,250 per month for EDGX Top…
- New 'Data Vendor' Definition and Eligibility Tests: benefit, medium. The Exchange defines a 'Data Vendor' and sets objective eligibility criteria that an External Distributor must meet to qualify: identify as a Data Vendor in public marketing; transform the Exchange Market Data Product (e.g., aggregation, normalization, enrichment, or repackaging); redistribute the…
- Extranet Service Providers Excluded from Program: cost, low. The Exchange codifies the term 'Extranet Service Provider' in its fee schedule and explicitly excludes such entities from the Data Vendor Program. An Extranet Service Provider is an entity that transmits an Exchange Market Data Product via its extranet without modification and is not authorized to…
- Clarified Fee Treatment When Receiving Both Feeds: benefit, low. The Exchange explicitly states that an External Distributor receiving both Cboe One Summary and Cboe One Premium will be charged only the Cboe One Premium External Distribution Fee (no separate Cboe One Summary External Distribution Fee will be assessed). The Exchange says this codification does no…

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## Sources
- [2026-19127 on federalregister.gov](https://www.federalregister.gov/documents/2026/09/18/2026-19127/self-regulatory-organizations-cboe-edgx-exchange-inc-notice-of-filing-and-immediate-effectiveness-of)
- [2026-19127 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-09-18/pdf/2026-19127.pdf)

## Related
- [Previous: 2026-19126, Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; O…](https://policyrisk.com/federal-register/2026-19126)
- [Next: 2026-19128, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and I…](https://policyrisk.com/federal-register/2026-19128)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-19127 (as of 2026-09-25).