2025-21889Notice

Stock Exchange Amends Listing Fee Rules

Published Date: 12/4/2025

Notice

Summary

Cboe BZX Exchange is updating its fee rules to include certain Commodity-Based Trust Shares in a special low-fee category for generically-listed securities. This change means some companies will pay different listing fees starting immediately, making it easier and cheaper for these products to be listed. If you’re involved with these securities, keep an eye on the new fee setup that’s already in effect!

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

No $10,000 Entry Fee

If you issue a Commodity-Based Trust Share that meets the generic listing standards under Exchange Rule 14.11(e)(4) and does not require an Exchange Rule Filing, your product is treated as a Generically-Listed ETP and is exempt from the $10,000 entry fee in Exchange Rule 14.13. This change was filed on November 19, 2025 and is in effect immediately.

Streamlined Listing Process

Commodity-Based Trust Shares that meet the generic standards under Rule 14.11(e)(4) and do not require an Exchange Rule Filing will be treated like other generically-listed ETPs, avoiding the additional time and extensive legal and business resources associated with individualized Exchange Rule Filings. The Exchange says this reduces regulatory friction for qualifying issuers.

Immediate Effect with 60-Day Review

The Exchange's filing was made on November 19, 2025 and became effective immediately under Section 19(b)(3)(A) and Rule 19b-4(f). The Commission may summarily suspend the change within 60 days of the filing, and written comments are due by December 26, 2025.

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Key Dates

Effective Date
Published Date
11/19/2025
12/4/2025

Department and Agencies

Department
Independent Agency
Agency
Securities and Exchange Commission
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