Federal Register #SR-CBOE-2026-063

Cboe Exchange Proposes Zero-Fee Market Data Feed for Complex Instruments

This notice concerns a proposed rule change by Cboe Exchange, Inc. regarding market data fees for a specialized data feed. - Government Buyer: - U.S. Securities and Exchange Commission (SEC), Division of Trading and Markets - OEM/Vendor: - Cboe Exchange, Inc. (primary and only OEM/vendor mentioned) - Product/Service Details: - Exchange Designated Complex Instruments (EDCI) Feed - A filtered subset of the Complex Order Book (COB) Data Feed - Includes data for XSP Vertical Spreads, box spreads, box swaps, and jelly rolls - Created by Uncontrolled Distributors from the COB Feed - Offered at no cost (all fees set at $0) to both internal and external distributors and users - Notable Requirements/Details: - The EDCI Feed is intended to promote equitable access to market data, especially for retail investors - The full COB Feed remains subject to existing fees - The EDCI Feed is not directly offered by Cboe, but by Uncontrolled Distributors - The notice invites public comments on the proposed rule change - No procurement of products or services is occurring; this is a regulatory notice about fee changes for a market data service

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by Cboe Exchange, Inc. to establish fees for its Exchange Designated Complex Instruments (EDCI) feed. The proposal includes details about the filing, effective date, and links to the full text in various formats. The rule change aims to set fees for the EDCI feed at zero dollars to promote equitable access to market data for these instruments. The notice invites comments on the proposed rule change and outlines the fee structure and regulatory controls.

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