Federal Register #SR-IEX-2026-26

SEC Notice: IEX and Cboe EDGX Exchange Fee Schedule Amendments

This notice details proposed fee schedule changes by Investors Exchange LLC (IEX) and Cboe EDGX Exchange, as published by the Securities and Exchange Commission (SEC): - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Investors Exchange LLC (IEX) - Cboe EDGX Exchange - Products/Services Requested: - Introduction of a new $0.0004 per share fee for high-volume non-displayed trades by IEX members qualifying for Incremental Fee Tier 2 for at least three consecutive months - Reorganization of registration and audit trail fees into a separate 'Additional Fees' schedule by IEX - Increase in the discounted External Distribution Fee for the EDGX Top Feed from $750 to $1,250 per month under the Small Retail Broker Distribution Program by Cboe EDGX Exchange - Unique or Notable Requirements: - The IEX fee applies only to members with sustained high trading volumes (Incremental Fee Tier 2 for three consecutive months) - The changes are part of preparations for the launch of IEX Options and to clarify fee structures - The Cboe EDGX fee change specifically targets small retail broker distribution of market data feeds - **No physical products or traditional procurement of goods/services; these are regulatory fee adjustments affecting exchange members and market data distributors

Description

Investors Exchange LLC (IEX) filed a proposed rule change to amend its fee schedule applicable to members. The changes include introducing a new fee of $0.0004 per share for certain non-displayed trades of members who qualified for the reduced incremental fee in each of the three immediately preceding months. Additionally, the filing proposes moving the FINRA Registration and Processing and the Consolidated Audit Trail Funding Fees into a separate Additional Fees schedule. These changes are in preparation for the launch of IEX Options later in the year and will be effective August 1, 2026.

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