Federal Register #SR-BOX-2026-09

SEC Review of BOX Exchange LLC Rule Change for QCC Transaction Rebates

This notice details a proposed rule change by BOX Exchange LLC, reviewed by the Securities and Exchange Commission (SEC), regarding the BOX Options Market fee schedule: - Government Buyer: - Securities and Exchange Commission (SEC) - BOX Exchange LLC (as the regulated entity submitting the proposal) - OEMs and Vendors: - BOX Exchange LLC (primary and only OEM/vendor mentioned) - Products/Services Requested: - No physical products or services are being procured - The notice concerns amendments to the fee and rebate structure for Qualified Contingent Cross (QCC) transactions on the BOX Options Market - Notable Requirements and Details: - The amendment modifies volume thresholds for QCC rebate tiers, making Tier 2 easier to achieve - Rebates are applied to Agency Orders on qualifying QCC transactions - Rebate amounts vary depending on whether one or both parties are Broker Dealers or Market Makers - The proposal aims to incentivize increased QCC order flow and enhance liquidity on the BOX exchange - No specific purchase quantities, part numbers, or physical deliverables are involved; the focus is on transaction fee and rebate adjustments for market participants

Description

This notice announces a proposed rule change filed by BOX Exchange LLC to amend the fee schedule for trading on the BOX Options Market LLC facility. The amendment modifies certain rebate tiers for Qualified Contingent Cross (QCC) transactions by adjusting volume thresholds for rebate tiers. The change aims to incentivize increased QCC order flow and enhance liquidity on the BOX exchange. The proposal is effective immediately and is subject to public comment.

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