Cboe EDGX updates fee code ZM description to include RTP instruction
Effective Oct. 1 2026, the amendment applies to all members trading on the EDGX equities platform
On Oct. 1 2026 Cboe EDGX Exchange, Inc. filed a proposed rule change under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 to amend its Fee Schedule. The amendment updates the description of fee code ZM to reflect the newly introduced Regular 'til Post Market (RTP) Time-in-Force instruction. The change is effective immediately on Oct. 1 2026 and binds all members using the EDGX equities trading platform.
The current description - "Retail order, Day/RHO or GTX, removes liquidity on arrival" - will be revised to read "Retail order, Day/RHO/RTP or GTX, removes liquidity on arrival." The fee associated with code ZM remains free for securities priced at or above $1.00 and free for securities priced below $1.00. No other fee or rebate terms are altered.
EDGX operates a maker-taker model. For securities priced at or above $1.00, the exchange provides a standard rebate of $0.00160 per share for adding liquidity and assesses a fee of $0.0030 per share for removing liquidity. For securities priced below $1.00, the rebate is 0.00003 per share and the removal fee is 0.30% of the dollar value. The RTP Time-in-Force instruction will be available as of Oct. 9 2026.
The exchange cites statutory authority under 15 U.S.C. 78f(b) and Sections 6(b)(4) and 6(b)(5) of the Act, asserting that the non-substantive, clarifying amendment promotes just and equitable principles of trade, provides uniform allocation of fees, and does not create unfair discrimination.
The notice appears in the Federal Register, Vol. 91, No. 199, pages 65804-65806, Release No. 34-106647, File No. SR-CboeEDGX-2026-070. The Commission is soliciting comments from interested persons in accordance with standard procedures.
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