Federal Register #SR-IEX-2026-37

IEX proposes separate non-display fees for DEEP and DEEP+ market data feeds

The SEC notice describes a proposed Investors Exchange LLC (IEX) fee-schedule change, not a government procurement opportunity or award. - Buyer and context: The Securities and Exchange Commission (SEC) published a notice about a proposal from Investors Exchange LLC (IEX) to change its Equities Fee Schedule. - Proposed fees: IEX proposes separate monthly non-display use fees of $2,500 for DEEP and $3,500 for DEEP+. The existing monthly real-time access fees are also $2,500 for DEEP and $3,500 for DEEP+. - Data feeds: DEEP provides aggregated depth-of-book quotations and execution information; DEEP+ provides order-by-order depth-of-book quotations and execution information. - Named comparison venues: The notice compares the proposal with market data feeds and fees from Cboe EDGX and BZX. - Procurement status: No products or services are being solicited for purchase, and no contract value, performance period, product line items, or service line items are provided.

Description

Investors Exchange LLC filed a proposed rule change to amend the IEX Equities Fee Schedule by adopting separate fees for non-display use of its DEEP and DEEP+ proprietary equities market data feeds. The feeds provide depth-of-book quotations and execution information; DEEP provides aggregated quotations, while DEEP+ provides order-by-order quotations. The proposal retains the existing monthly real-time access fees of $2,500 for DEEP and $3,500 for DEEP+, and adds separate monthly non-display fees at the same rates. The changes are effective upon filing and operative beginning October 1, 2026.

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