Cboe BYX Exchange removes Last Sale market data feed

On September 28, 2026 Cboe BYX Exchange, Inc. filed with the Securities and Exchange Commission a proposed rule change identified as Release No. 34-106588; File No. SR-CboeBYX-2026-036. The amendment would revise Rule 11.22(g) to remove the Last Sale market data feed and delete all fees associated with that feed from the Exchange's fee schedule.

The Exchange explains that execution information currently disseminated via the Last Sale feed is also available through the BYX Top and BYX Depth market data feeds, making the Last Sale feed redundant. It will sunset the feed on a date to be announced via Exchange Notice within 90 days after the date this filing is submitted to the Commission. The fee schedule presently lists a Distribution Fee of $500/month for internal distributors and $1,000 for external distributors for the Last Sale feed; these fees will be removed.

The Exchange asserts that the amendment is consistent with Section 6(b)(5) and Section 6(b)(4) of the Securities Exchange Act of 1934, noting that eliminating a redundant product does not disadvantage any market participant, promotes a free and open market, and provides equitable allocation of reasonable fees.

No comments were solicited or received. Because the proposal does not significantly affect investor protection, impose a competition burden, or require a 30-day waiting period, it becomes effective immediately pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-4(f)(6). The Commission may temporarily suspend the rule change at any time within 60 days of filing.

The amendment applies equally to all BYX market data users. Subscribers currently receiving the Last Sale feed may substitute the BYX Top feed at no additional cost for internal distributors and at the same or lower cost for external distributors, as the fees for BYX Top are $250 for external distribution and $500/month for internal distribution, with professional user fees of $1.00/month and non-professional user fees of $0.025/month, among other charges listed in the BYX Equities Fee Schedule.