Federal Register #SR-CboeBZX-2026-066

Cboe BZX Exchange Proposes Options Regulatory Fee (ORF) Increase and Methodology Change

This notice concerns a proposed rule change by Cboe BZX Exchange, Inc. to amend its Options Regulatory Fee (ORF): - Government Buyer: - U.S. Securities and Exchange Commission (SEC), Division of Trading and Markets - OEM/Vendor Mentioned: - Cboe BZX Exchange, Inc. (primary and only OEM) - Products/Services Requested: - No physical products or traditional services are being procured - The subject is the Options Regulatory Fee (ORF), a regulatory fee assessed per contract side for customer options transactions executed on the Cboe BZX Exchange - The ORF rate will increase from $0.0002 to $0.00476 per contract side - The fee will now apply only to transactions occurring on the Exchange, not all customer-range transactions across exchanges - Unique or Notable Requirements: - The fee supports regulatory supervision, investigations, examinations, and enforcement related to customer options business - The methodology change avoids overlapping fees from other exchanges - The Exchange will monitor regulatory costs and revenues semi-annually and may adjust the fee as needed - No procurement of goods or services; this is a regulatory fee change

Description

The Securities and Exchange Commission has filed a proposed rule change by Cboe BZX Exchange, Inc. to amend the Options Regulatory Fee ("ORF"). The rule change proposes to increase the ORF rate and change the methodology to assess the fee only on transactions occurring on the Exchange, effective July 1, 2026. The proposal includes nonsubstantive changes to clarify fee collection and delete outdated language. The rule change has been filed with immediate effectiveness and aims to ensure regulatory revenues do not exceed regulatory costs.

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