Cboe C2 Exchange launches trade-by-trade options data product with fees
C2 Options subscribers can purchase a trade-by-trade report for $5,000 monthly, effective Oct. 27, 2026.
On October 27, 2026, Cboe C2 Exchange, Inc. filed a non-controversial proposed rule change with the Securities and Exchange Commission (Release No. 34-106800; File No. SR-C2-2026-029). The filing, announced in a notice dated November 3, 2026 (FR Doc No: 2026-22652), is effective immediately.
The proposed rule adds a Trade-by-Trade (TBT) Report for C2 Options. Each row will detail a single trade, including time, underlying symbol, OSI attributes, size, price, market-context indicators, side, transaction type, order capacity, and, for Trading Permit Holders, execution IDs from both the Simple and Complex Order Books. The report will be generated at the close of each trading day and made available overnight after midnight Eastern Time (T+1), ensuring the data is strictly historical.
The Exchange proposes a monthly subscription fee of $5,000 for the TBT Report and a $3,000 monthly fee for ad-hoc requests covering any month of data available from March 1, 2019 onward. A free sample of end-of-day trade-by-trade data for July 1, 2022 through July 31, 2022 will be offered to both Trading Permit Holders and non-TPHs who have not previously received the product.
The Exchange states the rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 and is intended to broaden options market data availability, support detailed transaction analysis, compliance checks, and historical market reconstruction. The proposal is being published to solicit comments from interested parties.
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