Cboe Swaps Flat API Fees for Usage Tiers
Published Date: 3/11/2026
Notice
Summary
Starting March 2, 2026, Cboe Exchange is switching from a flat monthly fee to a usage-based tiered pricing for its Silexx API. This means traders and firms using the API will pay based on how much they use it, not a fixed price every month. The change aims to make fees fairer and more flexible for everyone involved.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 4 costs, 0 mixed.
Flat $200 Monthly Fee Replaced
If you use the Silexx API, the flat $200 monthly fee per login ID (in place since 2017) is replaced effective March 2, 2026 by a tiered monthly fee of $299, $699, or $999 per login ID depending on the tier you choose.
Overage Fee of $0.01 Per Excess Call
For firms on Tier 1 or Tier 2, any API calls above the applicable daily firm-level cap (20,000 for Tier 1; 200,000 for Tier 2) are charged an overage fee of $0.01 per call; Tier 3 has no overage fee.
Usage Tiers and Specific Rate Limits
The new pricing has three tiers with technical limits: Tier 1 ($299/month) has a 200 calls-per-minute limit and a 20,000 daily firm-level cap; Tier 2 ($699/month) has a 2,000 calls-per-minute limit and a 200,000 daily firm-level cap; Tier 3 ($999/month) has no per-minute or daily cap.
Default Tier and Mid-Month Billing Rule
All login IDs default to Tier 1 ($299/month) unless a user elects a higher tier; if you switch to a higher tier mid-month, the higher-tier monthly fee applies for the entire billing month.
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