Federal Register #SR-CboeBZX-2026-023

SEC Notice: Proposed Rule Change to Cboe BZX Exchange ADQ/ADO Fee Structure

This notice announces a proposed rule change by Cboe BZX Exchange, Inc. regarding its fee schedule for Average Daily Quote (ADQ) and Average Daily Order (ADO) fees. - Government Buyer: - Securities and Exchange Commission (SEC) - Address: 100 F Street NE, Washington, DC 20549 - OEMs and Vendors: - Cboe BZX Exchange, Inc. (the only entity mentioned) - Products/Services Requested: - No products or services are being procured; this is a regulatory notice - The proposal amends the fee structure for ADQ and ADO, introducing new tiers and fee levels for market participants - Unique or Notable Requirements: - The changes are intended to incentivize efficient quoting behavior and manage system resource usage - The notice is informational and does not solicit goods or services

Description

This notice announces a proposed rule change filed by Cboe BZX Exchange, Inc. with the Securities and Exchange Commission (SEC) to amend its fee schedule related to Average Daily Quote (ADQ) and Average Daily Order (ADO) fees. The amendments aim to revise the tiers and fees applicable to market participants based on their order and quote activity levels, effective April 1, 2026. The proposal is intended to encourage efficient quoting behavior and manage system resource usage without impeding market quality or liquidity.

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