Cboe Implements Fee Credit Program for Backup Logical Ports During Protocol Migration

The Securities and Exchange Commission published a notice on September 1, 2026 (Release No. 34-106255; File No. SR-CBOE-2026-075; FR Doc No: 2026-18111) that Cboe Exchange, Inc. filed a proposed rule change on August 20, 2026. The amendment to the Exchange's fee schedule is effective immediately upon filing.

The amendment creates an Exchange Order Entry Protocol Migration Program that provides Trading Permit Holders ("TPHs") fee credits for logical ports established solely as a backup connection during an Exchange-initiated order entry protocol migration, such as the transition from BOEv2 logical ports to BOEv3 logical ports.

To receive a credit, a TPH must (i) notify the Exchange's Trade Desk that the logical port is intended only as a redundant port for the migration, (ii) cancel the redundant logical port within 30 calendar days, (iii) use the port only for Exchange issues directly related to the migration, and (iv) submit a credit request within 30 days of cancellation. The Exchange will review the port's order and quote usage and, if the requirements are satisfied, apply a credit for the assessed fees to the TPH's invoice for the billing cycle following confirmation.

The Exchange cites authority under Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4, and states the change is consistent with Section 6(b)(5) of the Act, which mandates rules that prevent fraudulent practices, promote equitable trade, and avoid unfair discrimination among market participants.

The proposed rule text (Exhibit 5) is available on the SEC website, the Cboe website, and at the Exchange's principal office. The Commission is soliciting comments from interested persons as required by the Act.