Cboe BZX adds IEX to $0.25 routing fee code RP
Effective Oct. 1, 2026, the amendment applies a $0.25 per-contract routing fee for IEX orders to all BZX members.
On October 1, 2026, Cboe BZX Exchange, Inc. filed a proposed rule change (Release No. 34-106627; File No. SR-CboeBZX-2026-083) to amend its Fees Schedule. The amendment became effective immediately under Section 19(b)(3)(A) of the Securities Exchange Act of 1934, and the SEC is now soliciting comments through a notice published in the Federal Register on Oct. 13, 2026 (Vol. 91, No. 196, pp. 64970-64971).
The change adds IEX Exchange, Inc. to fee code RP, which is applied to Customer orders routed to a set of away options exchanges and assessed at $0.25 per contract. Prior to the amendment, fee code RP covered orders routed to NYSE American, BOX Options, Cboe, EDGX, MX2, MIAX, MIAX Sapphire, and Nasdaq PHLX (excluding SPY options). IEX will now be treated identically, with the same $0.25 per contract charge.
The Exchange says the amendment aligns with its "simple" routing-fee methodology that approximates the cost of routing, including transaction fees, clearing fees, connectivity and membership costs. It argues the addition is consistent with the Act's Section 6(b) requirements to promote just and equitable trade, avoid unfair discrimination, and allocate reasonable fees among members.
The Exchange did not solicit or receive any comments on the proposal. Under Rule 19b-4(f), the SEC may temporarily suspend the rule change within 60 days of filing if it deems such action necessary to protect investors or the public interest, after which formal proceedings would determine final approval.
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