Cboe amends fee schedule, reduces catastrophic error fee to $500
Effective September 1, 2026, the rule change adds MX2 to routing fee code RD, removes a $5,000 catastrophic error fee and sets a $500 appeal fee for Cboe Options participants.
On September 9, 2026, the SEC published a notice (Release No. 34-106313; File No. SR-CBOE-2026-076; FR Doc No: 2026-18665) that Cboe Exchange, Inc. filed a proposed rule change on September 1, 2026. The filing seeks immediate effectiveness of amendments to the Exchange's Fees Schedule and Rule 6.5.
The amendment adds MX2 LLC to fee code RD in the Routing Fees section. Orders routed to MX2 will be assessed the same $0.25 per contract charge that currently applies to orders routed to AMEX, BOX, EDGX, MIAX, SPHR, and PHLX, as well as ETF and equity options.
The proposal also deletes the $5,000 Catastrophic Error Review Fee from the Miscellaneous section of the Fees Schedule, describing it as duplicative of Rule 6.5. In its place, Rule 6.5 would be revised to eliminate the $5,000 charge and instead impose a $500 fee when the Obvious Error Panel or Catastrophic Error Panel votes to uphold an appeal.
The Exchange states the changes are intended to align routing fees with actual routing costs and to provide a nominal administrative charge for appeals, consistent with Section 6(b) of the Securities Exchange Act of 1934.
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