Federal Register #SR-CBOE-2026-080

SEC notice on Cboe’s proposed binary options and routing fee changes

The SEC notice describes Cboe Exchange’s proposed changes to fees for certain binary options and routing activity; it is a regulatory filing, not a procurement opportunity. - Government agency: Securities and Exchange Commission (SEC). - Organizations named: Cboe Exchange, Inc. (also identified as Cboe Options) and Investors Exchange LLC (IEX). - Proposed fee changes: - Replace fixed, premium-based transaction fees with tier-based constant fees for specified customer, clearing trading permit holder proprietary, broker-dealer, and electronically executed market-maker orders that remove liquidity in Mini-S&P 500 Index (XSPBX) binary options. - Keep existing per-contract fees for market-maker, DPM, and LMM orders that add liquidity, and for manual orders. - Add IEX to routing fee code RD. - No products or services, quantities, part numbers, or contract performance period are specified because no purchase is being requested.

Description

Cboe Exchange, Inc. filed a proposed rule change to amend its Fees Schedule, effective October 1, 2026. The proposal would replace fixed, premium-based transaction fees for XSPBX binary options with a tier-based constant transaction fee methodology for specified order types and liquidity-taking transactions, while retaining existing per-contract fees for Market-Maker/DPM/LMM liquidity-adding and manual orders. It would also add Investors Exchange LLC (IEX) to fee code RD. The filing identifies the proposed rule text in Exhibit 5.

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