Federal Register #SRC22026017

SEC Notice: Cboe C2 and EDGX Exchange Proposed Fees for New Clock Service

This opportunity concerns the SEC's notice of Cboe C2 Exchange, Inc. and Cboe EDGX Exchange, Inc. proposing new fees for their optional Clock Service. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Cboe C2 Exchange, Inc. - Cboe EDGX Exchange, Inc. - Safran (for White Rabbit-enabled switches) - Products/Services Requested: - Clock Service Subscription: Monthly service for time synchronization with a 1 Gbps physical port ($7,500/month) - Redundant Clock Service Connection: Optional backup 1 Gbps port ($2,500/month) - High-Accuracy Timing IP Core (HATI) Licensing Setup: One-time $5,000 fee per connection for non-Safran devices - Unique/Notable Requirements: - Service enables precise latency measurement by synchronizing with the Exchange's primary clock - HATI license required for participants not using Safran White Rabbit-enabled switches - Service is optional and available to both Members and non-Members - Free 30-day trial for new subscribers - Single subscription allows connection to all eight Cboe exchanges - Fees are prorated for mid-month sign-ups - Competing Service: - MIAX Emerald, LLC offers a similar time synchronization service

Description

The Securities and Exchange Commission has filed a notice regarding Cboe C2 Exchange, Inc.'s proposal to adopt fees for its new Clock Service. This service allows subscribers to synchronize their time recording systems with the Exchange's primary clock for precise latency measurements. The proposed fees include a monthly fee for the service, an optional fee for a redundant connection, and a one-time licensing fee. The filing is effective immediately and aims to provide market participants with enhanced time synchronization options.

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