# Federal Register #SR-CboeBZX-2026-081

SEC notice on Cboe BZX’s proposed market-data vendor program and fee rules

**Buyer:** Securities and Exchange Commission
**Posted:** October 13, 2026
**Respond By:** November 03, 2026
**Identifier:** SR-CboeBZX-2026-081

The SEC notice concerns Cboe BZX Exchange’s proposed rules for its market-data vendor program and related fees.
- Government agency: Securities and Exchange Commission (SEC).
- Filing party: Cboe BZX Exchange, Inc. (BZX).
- Proposed changes:
  - Establish a Data Vendor Program and define eligible Data Vendors.
  - Set criteria for External Distributors, including transforming and commercially redistributing applicable market data and soliciting unaffiliated downstream distributors.
  - Codify the definition of Extranet Service Provider in the fee schedule.
  - Clarify External Distribution Fee treatment for Cboe One Summary and Cboe One Premium feeds.
  - Provide fee waivers for qualifying vendors for the Cboe One Summary Feed, Cboe One Premium Feed, and BZX Summary Depth Feed.
- This is a regulatory notice seeking public comments, not a government procurement; no products, quantities, or contract services are being purchased.

### Description

Cboe BZX Exchange, Inc. proposes a Data Vendor Program and amendments to its rules and fee schedule. The changes include defining Data Vendor, codifying the definition of Extranet Service Provider, and setting eligibility criteria for Data Vendors. The proposal also clarifies External Distribution Fee treatment for distributors of Cboe One Summary and Cboe One Premium feeds and provides fee waivers for qualifying vendors covering specified data feeds. The SEC notice invites comments on the proposed rule change.

[View original listing](https://www.federalregister.gov/documents/2026/10/13/2026-20811/self-regulatory-organizations-cboe-bzx-exchange-inc-notice-of-filing-and-immediate-effectiveness-of)