Federal Register #SR-CboeEDGX-2026-042

Cboe EDGX Exchange Clock Service Fee Proposal for Time Synchronization

This opportunity concerns the SEC's notice of a proposed rule change by Cboe EDGX Exchange, Inc. to introduce fees for its new Clock Service, which provides precise time synchronization for market participants. - Government Buyer: - Securities and Exchange Commission (SEC) - Division of Trading and Markets - OEMs and Vendors: - Cboe EDGX Exchange, Inc. (service provider) - Safran (manufacturer of White Rabbit-enabled switches) - Products/Services Requested: - Clock Service monthly subscription, providing time synchronization via a 1 Gbps physical port - Optional redundant connection for backup time signal - High-Accuracy Timing IP Core (HATI) license setup (one-time fee for non-Safran devices) - Quantities and Fees: - $7,500 per month for the main Clock Service (includes one port) - $2,500 per month for an optional redundant connection - $5,000 one-time HATI license setup fee per connection (if not using Safran White Rabbit switches) - Notable Requirements: - Service is optional and available to both Members and non-Members - 30-day free trial for new subscribers - Requires a 1 Gbps physical port for connection - HATI license required for non-Safran devices to access the service - Service designed to improve latency measurement and market data synchronization across all Cboe exchanges

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by Cboe EDGX Exchange, Inc. to adopt fees for its new Clock Service. This service allows participants to synchronize their time recording systems with the Exchange's primary clock for more precise latency measurements. The proposal includes a monthly fee for the service, optional ancillary fees for redundant connections, and a one-time licensing fee. A 30-day free trial for new subscribers is also proposed to encourage adoption.

View original listing