Cboe EDGA adopts fee credit program for migration of order entry protocol

On August 20, 2026, Cboe EDGA Exchange, Inc. filed a proposed rule change (Release No. 34-106222; File No. SR-CboeEDGA-2026-025) with the SEC to amend its fee schedule. The filing, published in the Federal Register Vol. 91 No. 169 (Sept 2 2026, pp. 56533-56536, FR Doc No 2026-17916), is immediately effective.

The amendment creates an Exchange Order Entry Protocol Migration Program that grants fee credits for "Redundant Logical Ports" that members establish solely as backup connections during an exchange-initiated migration from one BOE protocol (e.g., BOEv2) to another (e.g., BOEv3). To qualify, a member must (i) notify the Exchange's Trade Desk that the port is a backup, (ii) cancel the redundant port within 30 calendar days of designating it as such, (iii) use the port only for orders or quotes arising from an exchange issue directly related to the migration, and (iv) submit a credit request within 30 calendar days after cancellation.

Upon receipt of the request, the Exchange will review the port's usage, verify compliance with the four conditions, and, if satisfied, apply a credit for the assessed monthly logical-port fees to the member's invoice for the billing cycle that follows the Exchange's confirmation.

The Exchange cites authority under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4, and asserts that the rule change aligns with Section 6(b)(5) requirements to promote just and equitable principles of trade and to avoid unfair discrimination. The program is limited to migrations initiated by the Exchange and does not extend to member-initiated changes.

The SEC has opened a comment period for interested parties, directing comments to the locations listed in the notice. All filings and supporting materials are available on the SEC's website and at the Exchange's principal office.