Cboe C2 Exchange adds fee-credit program for migration backup ports
Effective immediately, the rule change credits Trading Permit Holders for redundant logical ports used during an exchange-initiated protocol migration.
On August 20, 2026 Cboe C2 Exchange, Inc. filed a proposed rule change to amend its fee schedule and implement an Exchange Order Entry Protocol Migration Program. The Securities and Exchange Commission published the filing on September 1, 2026 (Release No. 34-106256; File No. SR-C2-2026-023; FR Doc No. 2026-18112) and made the change immediately effective.
The program provides a credit of the monthly logical-port fee for any Redundant Logical Port a Trading Permit Holder (TPH) establishes solely as a backup during an exchange-initiated migration from one BOE protocol version to another (e.g., BOEv2 to BOEv3). To qualify, the TPH must notify the Exchange's Trade Desk of the port's backup purpose, cancel the port within 30 calendar days, ensure all orders or quotes entered through the port arise from an Exchange issue related to the migration, and submit a credit request within 30 days of cancellation. Upon review and verification, the Exchange will apply the credit to the TPH's invoice for the subsequent billing cycle.
The Exchange cites Section 6(b)(5) of the Securities Exchange Act of 1934 as the statutory basis, asserting that the rule change promotes equitable trade principles, prevents unfair discrimination, and protects investors by alleviating costs imposed by an Exchange-driven protocol transition.
The full text of the proposed rule change and supporting statements are available on the SEC's website, the Cboe website, and at the Exchange's principal office. Interested parties may submit comments during the Commission's comment period as indicated in the notice.
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