Federal Register #SR-IEX-2026-29

SEC Notice: Proposed Rule Change for IEX Market Data Distribution Rebates

This SEC regulatory notice outlines a proposed rule change from Investors Exchange LLC (IEX) regarding market data distribution rebates. - Government buyer: - Securities and Exchange Commission (SEC) - Regulatory oversight of Investors Exchange LLC (IEX) - OEMs and vendors: - Investors Exchange LLC (IEX) - Products/services requested: - Real-time IEX market data feeds: DEEP+, DEEP, TOPS - No specific part numbers or purchase quantities; focus is on subscription-based data products - Unique or notable requirements: - Extranet providers, in addition to data subscribers, are eligible for external distribution rebates - Rebate is 75% of subscription fees paid by new external data subscribers - Extranet providers must opt in via an updated Extranet Addendum to the Connectivity Services Agreement - Monthly reporting of new subscribers required - New subscribers must execute the IEX Data Subscriber Agreement - Rebate applies only to new subscribers not entitled to real-time IEX market data as of July 1, 2026 - Program excludes existing customers - Rebate program expires after two years or upon subscription termination - No specific procurement quantities or part numbers listed; this is a regulatory notice, not a traditional procurement opportunity.

Description

The Securities and Exchange Commission announced a proposed rule change filed by Investors Exchange LLC to amend the IEX Fee Schedule. The change allows extranet providers, in addition to data subscribers, to earn an external distribution rebate by enlisting new data subscribers of real-time IEX market data products. This rebate is designed to incentivize the expansion of distribution of IEX market data products. The rule change is effective upon filing and operative beginning September 1, 2026.

View original listing