Cboe BZX adds MX2 to routing fee code and raises non-customer fee
Effective Sept. 1, 2026, the change applies to BZX Options customer orders routed to MX2 and to non-customer non-penny class orders, raising the RO fee to $1.31 per contract.
The Securities and Exchange Commission published a notice on September 9, 2026 (Release No. 34-106316; File No. SR-CboeBZX-2026-073; FR Doc No. 2026-18668, Vol. 91, No. 176, pp. 58203-58206) that Cboe BZX Exchange, Inc. filed a proposed rule change to amend its Fees Schedule with immediate effectiveness.
The amendment adds MX2 LLC to fee code RP, which is applied to Customer orders routed to designated away options exchanges. The fee per contract under RP remains $0.25, the same charge assessed for orders routed to AMEX, BOX, Cboe, EDGX, MIAX, SPHR, and PHLX (excluding SPY options routed to PHLX).
The proposal also raises the fee assessed under fee code RO from $1.25 per contract to $1.31 per contract. Fee code RO applies to Non-Customer orders in non-penny classes that are routed to and executed at an away options exchange.
The Exchange states the changes are intended to approximate routing costs, recoup clearing, administrative, regulatory and technical expenses associated with routing, and remain comparable to fees charged by other options exchanges. The amendments are presented as consistent with the Act's Section 6(b) requirements for equitable allocation of fees and prevention of unfair discrimination.
Routing through BZX remains optional; members may mark orders as Book Only or use alternative routing venues to avoid the fees. The Commission is soliciting comments from interested persons on the proposed rule change.
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