Cboe U.S. Equities Fee Schedules

All fees and rebates assessed prior to the three full calendar months before the month in which the Exchange becomes aware of a billing error shall be considered final. Any dispute concerning fees or rebates billed by the Exchange must be submitted to the Exchange in writing and must be accompanied by supporting documentation.

Transaction Fees:

• Rebates indicated by parentheses ( ).
• The rates listed in the Standard Rates table apply unless a Member’s transaction is assigned a fee code other than a standard fee code. If a Member’s transaction is assigned a fee code other than a standard fee code, the rates listed in the Fee Codes table will apply.
• Footnotes provide further explanatory text or, where annotated to fee codes, indicate variable rate changes, provided the conditions in the footnote are met.
• Unless otherwise noted, all routing fees or rebates in the Fee Codes and Associated Fees table are for removing liquidity from the destination venue.

Standard Rates:

Category	Adding Liquidity	Removing Liquidity	Routing Liquidity
Securities at or above $1.00	($0.0027)	$0.0030	$0.0030
Securities below $1.00	(0.15%) of Dollar Value	0.15% of Dollar Value	0.30% of Dollar Value
Standard Fee Codes	B, V, Y, 3, 4	N, W, 6, BB	X

Fee Codes and Associated Fees:

Definitions:

• NBBO Setter Securities means the universe of securities not included in the NBBO Setter Excluded Securities List. The Exchange will determine the universe of NBBO Setter Securities on a quarterly basis and will publish the NBBO Setter Excluded Securities List in a Notice distributed to Members and on the Exchange’s website.
• Setter NBBO means a quotation of at least 100 shares that is better than the NBBO or a quotation of a notional size of at least $10,000.00 that is better than the NBBO.

General Notes:

• Unless otherwise indicated, rebates and charges for adding, removing or routing liquidity are listed as per share rebates and charges.
• Fee codes applicable to orders routed to NYSE Arca will be applied to orders routed to the NYSE or NYSE American where, pursuant to NYSE and NYSE American Rule 49, the NYSE or NYSE American have designated NYSE Arca as their backup facility to receive and process bids and offers and to execute orders on behalf of the NYSE or NYSE American.

Footnotes:

1. (Reserved)

2. Reserved.

3. Fee code D will be yielded if an SWPA routing strategy removes liquidity from NYSE.

4. Fee code O will be yielded if an order is routed to NYSE Arca & BZX's closing process.

5. Fee code RX will be yielded if an order is routed to EDGX using the ROUT routing strategy.

6. Fee code I will be yielded if an order is routed to EDGX using the ROUX routing strategy.

Logical Port Fees:

Service	Fee
Logical Ports (excluding Purge Port, Multicast PITCH Spin Server Port or GRP Port)	$550/port/month
Purge Ports	$650/port/month
Multicast PITCH Spin Server	$550/set of primary (A or C feed)
Multicast PITCH GRP Ports	$550/primary (A or C feed)
Certification Logical Ports	$250/port/month

• Logical port fees are limited to logical ports within the primary data center. No logical port fees will be assessed for redundant secondary data center ports.
• Multicast PITCH is available through one of two primary feeds, either the A or C feed. All secondary feed Multicast PITCH Spin Server and GRP Ports are provided for redundancy at no additional cost.
• New requests will be prorated for the first month of service, except for Certification Logical Ports. Cancellation requests are billed in full month increments as firms are required to pay for the service for the remainder of the month, unless the session is terminated within the first month of service.
• Users will be entitled to receive one Certification Logical Port free of charge per each logical port type. Certification Logical Port fees only apply if the corresponding logical port type is also available in the production environment.

Dedicated Cores:

Tier	Quantity	Fee Per Dedicated Core
1	1 - 2 Dedicated Cores	$0/month
2	3 - 10 Dedicated Cores	$650/month
3	11 - 15 Dedicated Cores	$850/month
4	16 or more Dedicated Cores	$1,050/month

Note: Members will be limited to 120 Dedicated Cores. Sponsoring Members will be limited to 35 Dedicated Cores for each of their Sponsored Access relationships. Dedicated Core Fees are progressive. For example, a firm that chooses to purchase 11 Dedicated Cores will be assessed a total monthly fee of $6,050 (i.e., $0 x 2 Dedicated Cores, $650 x 8 Dedicated Cores, and $850 x 1 Dedicated Core). The monthly fees are assessed and applied in their entirety and are not prorated.

Physical Connectivity Fees:

Service	Fee per Physical Port
1 Gb physical port	$2,500/month
10 Gb physical port	$8,500/month
1Gb physical port (Disaster Recovery)	$2,000/month
10Gb physical port (Disaster Recovery)	$6,000/month

Note: The Exchange will pass-through in full any fees or costs in excess of $1,000.00 incurred by the Exchange to complete a cross-connect.

Membership Fees:

Membership Fee Type	Fee
Firm Membership	$2,500/year1

1. If a Member is pending a voluntary termination of rights as a Member pursuant to Rule 2.8 prior to the date any Annual Membership Fee for a given year will be assessed (i.e., September 1, 2011, January 1, 2012, etc.) and the Member does not utilize the facilities of EDGA during such time, then the Member will not be obligated to pay the Annual Membership Fee.

New Member Program

New Members that meet the eligibility requirements described below are eligible to participate in the New Member Program (the “Program”). For such eligible New Members, the Program provides one (1) free Logical Order Entry Port (FIX or BOE) and a waiver of the Firm Membership fee, subject to the following:

• To be eligible for the Program, a new Member must be approved on EDGA and may not have been, within the prior 18 months, approved as an EDGA Equities Exchange Member. Eligibility for the first free Logical Order Entry Port and Membership Fee waiver will begin in the month a new membership application is approved. A Member is eligible to enroll in the Program only once.
• A new Member that is, or becomes, an “affiliate” of an existing Member, defined as having at least 75% common ownership between the two entities as reflected on each entity’s Form BD, is ineligible to participate in the Program.
• For the first 12 months of EDGA membership, a new Member will be considered eligible for the Program. Following the first 12 months of membership, a new Member will no longer be considered eligible for the Program, and any applicable fees outside of the Program will be applicable.

Market Participant Identifier (“MPID”) Fees:

Description	Fee
Monthly Fee per MPID per Member	$250

A Member’s first MPID is provided free of charge.

MPID Fees for additional MPIDs are prorated for the first month during which the MPID become effective. If an MPID is cancelled after the first business day of the month, the Member is required to pay the entire MPID Fee for that month.

Cboe Premium Exchange Tools

Description	Fee
Monthly Fee per User Login	$40

Market Data Fees:

Definitions

• A Distributor of an Exchange Market Data product is any entity that receives the Exchange Market Data product directly from the Exchange or indirectly through another entity and then distributes it internally or externally to a third party.
• An Internal Distributor of an Exchange Market Data product is a Distributor that receives the Exchange Market Data product and then distributes that data to one or more Users within the Distributor’s own entity.
• An External Distributor of an Exchange Market Data product is a Distributor that receives the Exchange Market Data product and then distributes that data to a third party or one or more Users outside the Distributor’s own entity.
• An Uncontrolled External Distributor of an Exchange Market Data Product is an External Distributor that does not control the entitlements of and display of information to its Users outside the Distributor’s own entity.
• An External Hosted Subscriber of an Exchange Market Data product is a Distributor that receives the Exchange Market Data product from an External Distributor through a hosted display solution where the External Hosted Subscriber’s Users are hosted by the External Distributor and data is distributed for display use only to one or more Users outside the External Hosted Subscriber’s own entity.
• A User of an Exchange Market Data product is a natural person, a proprietorship, corporation, partnership, or entity, or device (computer or other automated service), that is entitled to receive Exchange data.
• A "Non-Professional User" of an Exchange Market Data product is a natural person or qualifying trust that uses Data only for personal purposes and not for any commercial purpose and, for a natural person who works in the United States, is not: (i) registered or qualified in any capacity with the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, any securities exchange or association, or any commodities or futures contract market or association; (ii) engaged as an “investment adviser” as that term is defined in Section 202(a)(11) of the Investment Advisors Act of 1940 (whether or not registered or qualified under that Act); or (iii) employed by a bank or other organization exempt from registration under federal or state securities laws to perform functions that would require registration or qualification if such functions were performed for an organization not so exempt; or, for a natural person who works outside of the United States, does not perform the same functions as would disqualify such person as a Non-Professional User if he or she worked in the United States.
• A Professional User of an Exchange Market Data product is any User other than a Non-Professional User.
• Non-Display Usage means any method of accessing a Market Data product that involves access or use by a machine or automated device without access or use of a display by a natural person or persons.
• A Trading Platform is any execution platform operated as or by a registered National Securities Exchange (as defined in Section 3(a)(1) of the Exchange Act), an Alternative Trading System (as defined in Rule 300(a) of Regulation ATS), or an Electronic Communications Network (as defined in Rule 600(b)(23) of Regulation NMS).
• A Managed Non-Display Service Provider is a Distributor that host a subscriber’s applications that utilizes a Market Data Product within the Managed Non-Display Service Provider’s space/cage; fully manages and controls access to the Market Data Product, and does not permit further redistribution of the Market Data Product internally or externally.

Trial Usage:

First-time Users and Distributors are eligible for a free trial and will not be charged any applicable fees for 30 days for each of the real-time market data products listed on this Fee Schedule (“Product”). A first-time User would be any User that has not previously subscribed to a particular Product. A first-time Distributor would be any firm that has not previously distributed, internally or externally, a particular Product. The free trial would be for the 30 days starting on the date a User or Distributor is approved to receive trial access to Exchange market data. The Exchange will provide the 30-day free trial for each particular product to each User or Distributor once.

EDGA Depth:

Delivery	Fee
Internal Distributor	$1,000/month
External Distributor	$2,500/month
Non-Display Usage not by Trading Platforms*	$1,000/month
Non-Display Usage by Trading Platforms**	$2,000/month
Professional User Fee	$10.00/month
Non-Professional User Fee	$1.00/month
Enterprise Fee***	$25,000/month

* Subscribers that use an Exchange approved Managed Non-Display Service Provider would be exempt from proposed Non-Display Usage Fee. In order to qualify for the exemption, the subscriber must meet the following requirements: (i) any subscriber applications that utilize EDGA Depth must be hosted within the Managed Non-Display Service Provider's space/cage; (ii) the subscriber's access to EDGA Depth is fully managed and controlled by the Managed Non-Display Service Provider, and no further redistribution of the Exchange Data internally or externally is permitted; and (iii) the subscriber is supported solely by one Managed Non-Display Service Provider, is not hosted by multiple Managed Non-Display Service Providers, and does not have their own data center-hosted environment that also receives EDGA Depth.

** Fee is charged per subscriber that uses the data within a Trading Platform. The fee represents the maximum charge per subscriber regardless of the number of Trading Platforms operated by the subscriber that receives the data for Non-Display Usage.

*** As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive the EDGA Depth Feed from a Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each Distributor that controls the display of the EDGA Depth Feed if it wishes such User to be covered by the Enterprise Fee. The Enterprise Fee is in addition to the Distributor Fee.

EDGA Summary Depth:

1 New External Distributor Credit. New External Distributors of the EDGA Summary Depth Feed will not be charged an External Distributor Fee for their first three (3) months in order to allow them to enlist new Users to receive the EDGA Summary Depth Feed.

2 Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for the EDGA Summary Depth Feed equal to the amount of its monthly User Fees up to a maximum of the External Distributor Fee for the EDGA Summary Depth Feed.

3 As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive the EDGA Summary Depth Feed from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of the EDGA Summary Depth Feed if it wishes such User to be covered by the Enterprise Fee. The Enterprise Fee is in addition to the Distributor Fee.

4 As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive the EDGA Summary Depth Feed from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

5 New Uncontrolled External Distributor Fee Waiver. New Uncontrolled External Distributors of the EDGA Summary Depth Feed will not be charged an External Distributor Fee for EDGA Summary Depth Feed until such time they enlist one or more Users to receive the EDGA Summary Depth Feed. To be eligible for the fee waiver, a new Uncontrolled External Distributor must not have received the EDGA Summary Depth Feed within the last 18 months.

EDGA Depth Attributed:

In addition to EDGA Depth fees, as described above, all subscribers to EDGA Depth Attributed will also incur the following fees:

Delivery	Fee
Internal Distributor	$2,500/month
External Distributor	$5,000/month

EDGA Book Viewer:*

* Fees applicable for distribution other than viewing via this website.

** Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for EDGA Book Viewer equal to the amount of its monthly User Fees up to a maximum of the Distributor Fee for EDGA Book Viewer.

*** As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive EDGA Book Viewer from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of EDGA Book Viewer if it wishes such User to be covered by the Enterprise Fee.

**** As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive EDGA Book Viewer from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

EDGA Top:

*As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive EDGA Top from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of EDGA Top if it wishes such User to be covered by the Enterprise Fee.

** As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive EDGA Top from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

EDGA Last Sale:

* As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive EDGA Last Sale from an External Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each External Distributor that controls the display of EDGA Last Sale if it wishes such User to be covered by the Enterprise Fee.

** As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive EDGA Last Sale from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

EDGA Historical Depth Data:*

Delivery (Internal Use Only)	Fee
Per Month of Access Data	$1,000

*From July 30, 2025 through September 30, 2025, any single purchase of historical data totaling $20,000 or more will receive a 20% discount. This discount cannot be combined with any other discount offered by the Exchange.

Cboe One Feed^SM:

Internal Distribution

	Cboe One Summary	Cboe One Premium
Distribution Fee	$1,500/month	$15,000/month
Professional User Fee	$10.00/month	$0/month
Non-Professional User Fee	$0.25/month	$0/month
Enterprise Fee3	$50,000/month	N/A

External Distribution^4,7

	Cboe One Summary6,8	Cboe One Premium
Distribution Fee	$5,000/month1,7	$12,500/month1,7
Professional User Fee2	$10/month	$15/month
Non-Professional User Fee2	$0.25/month	$0.50/month
Enterprise Fee3	$50,000/month	$100,000/month
Digital Media Enterprise Fee5	$15,000/month	$25,000/month

1 New External Distributor Credit. New External Distributors of the Cboe One Summary Feed will not be charged an External Distributor Fee for their first one (1) month in order to allow them to enlist new Users to receive the Cboe One Summary Feed. New External Distributors of the Cboe One Premium Feed will not be charged an External Distributor Fee for their first three (3) months in order to allow them to enlist new Users to receive the Cboe One Premium Feed.

2 Each External Distributor will be eligible to receive a credit against its monthly Distributor Fee for the Cboe One Feed equal to the amount of its monthly User Fees up to a maximum of the Distributor Fee for the Cboe One Feed.

3 As an alternative to User fees, a recipient firm may purchase a monthly Enterprise license to receive the Cboe One Feed from a Distributor for distribution to an unlimited number of Professional and Non-Professional Users. A recipient firm must pay a separate Enterprise Fee for each Distributor that controls the display of the Cboe One Feed if it wishes such User to be covered by the Enterprise Fee. The Enterprise Fee is in addition to the Distributor Fee.

4 Data Consolidation Fee. $1,000/month

5 As an alternative to User fees, a recipient firm may purchase a monthly Digital Media Enterprise license to receive the Cboe One Feed from an External Distributor for distribution to an unlimited number of Users for viewing via television, websites, and mobile devices for informational and non-trading purposes only.

6 Small Retail Broker Distribution Program. External Distributors of the Cboe One Summary Feed that meet the following criteria will be charged a Distribution Fee of $3,500/month and a Data Consolidation Fee of $350/month:

• Distributor is a broker-dealer distributing Cboe One Summary Data to Non-Professional Data Users with whom the broker-dealer has a brokerage relationship.
• At least 90% of the Distributor's total subscriber population must consist of Non-Professional subscribers, inclusive of any subscribers not receiving Cboe One Summary Data.
• Distributor distributes Cboe One Summary Data to no more than 10,000 Non-Professional Data Users.

7 New Uncontrolled External Distributor Fee Waiver. New Uncontrolled External Distributors of the of the Cboe One Summary Feed or Cboe One Premium Feed will not be charged the (i) External Distribution Fee nor (ii) the Data Consolidation Fee, until such time they enlist one or more Users to receive the Cboe One Summary Feed or Cboe One Premium Feed as applicable. The fee waiver will apply to Cboe One Summary Feed and Cboe One Premium Feed separately. To be eligible for the fee waiver for the applicable feed(s) (Cboe One Summary and/or Cboe One Premium), the new Uncontrolled External Distributor must not have received the applicable data feed(s) for which it seeks a waiver within the last 18 months.

8 Small Retail Broker Hosted Solution Program: If an External Distributor meets the eligibility requirements below and it distributes Cboe One Summary Feed to an External Hosted Subscriber that also meets the criteria as set forth below, the $3,500/month Distribution Fee is waived once the first External Hosted Subscriber is subscribed. This waiver shall be applied so long as the External Distributor maintains at least one External Hosted Subscriber.

Additionally, if an External Hosted Subscriber meets the below criteria, they shall also receive a waiver of the $3,500/month Distribution Fee and the $350/month Data Consolidation Fee and, in lieu of paying the Non-Professional User fee of $0.25/month for each user, the External Distributor shall be billed a fixed monthly cost of $850. The External Distributor shall be billed separately for the External Hosted Subscriber’s Professional User Fee monthly costs. Once an External Hosted Subscriber has more than 10,000 Non-Professional Data Users, it is no longer eligible to be considered an External Hosted Subscriber.

If an eligible External Distributor joins this program mid-month, its fees shall be prorated for the month based on the initial date of the subscription; however, the External Hosted Subscriber’s fees shall not be prorated.

Eligibility Requirements for External Hosted Subscriber and External Distributor:

• Distributor is a broker-dealer distributing Cboe One Summary Data to Non-Professional Data Users with whom the broker-dealer has a brokerage relationship.
• At least 90% of the Distributor’s total subscriber population must consist of Non-Professional subscribers, inclusive of any subscribers not receiving Cboe One Summary Data.
• Distributor distributes Cboe One Summary Data to no more than 10,000 Non-Professional Data Users.

Edge Attribution Incentive Program:

Members who enter Attributable Orders into the Exchange’s System in at least 100 symbols over 10 consecutive trading days over the course of a month are eligible to participate in the Edge Attribution Incentive Program. Each month, the Exchange will set aside 25% of the revenue generated in connection with fees received from EdgeBook Attributed (the "Revenue Allotment"). From the Revenue Allotment, the Exchange will provide a payment to eligible Members who qualified for the Edge Attribution Incentive Program based on the percentage of executed share volume from their Attributable Orders entered into the Exchange’s System.

US Equity Short Volume & Trades Report¹

Delivery	Fee
Monthly Fee per Internal Distributor	$750
Monthly Fee per External Distributor	$1,250
Fee per Month of Historical Data2,3	$500

¹The US Equity Short Volume & Trades Report is available for purchase on a monthly basis or on an annual basis. A User of the US Equity Short Volume & Trades Report will receive access to the end-of-day report beginning on the date of subscription and will receive the end-of-month report for the subscription month on the last business day of the month during which the User subscribed.

²The US Equity Short Volume & Trades Report provided on a historical basis is only for display use redistribution. Users who subscribe on an annual basis will receive 12 months of historical data included at no extra charge. Users who subscribe on a monthly basis would have the option of purchasing historical data on a per month basis. From July 29, 2025 through September 30, 2025, any single purchase of historical data totaling $20,000 or more will receive a 20% discount. This discount cannot be combined with any other discount offered by the Exchange.

³Qualifying Academic Purchasers shall be charged the greater of (i) a 50% discount off of their total purchase of historical data or (ii) $500. For example, if a Qualifying Academic Purchaser purchases a month and a half of data, for a total cost of $750 before the discount (for a discounted price of $375), they will be charged the greater fee of $500.

Cboe Timestamping Service

Missed Liquidity Report*

Number of Order Entry Ports for a Member or Sponsored Participant (FIX or BOE)	Fee
1-10 Ports	$1,500/month
11-20 Ports	$2,000/month
≥ 21 Ports	$2,500/month

*Fee is not progressive (i.e., 20 ports selected will be charged a total of $2,000/month).

Missed Cancels Report

Per Member or Sponsored Participant

$1,000/month

All Cancels Report

Per Member or Sponsored Participant

$1,000/month

Missed Cancels Report and All Cancels Report

Per Member or Sponsored Participant

$1,500/month

Mid-Month Subscriptions. For the initial month of the Timestamping Service, the service(s) shall be prorated for the month based on the initial date of the subscription. For determining the appropriate tier for the Missed Liquidity Report, the subscriber shall be charged based on the maximum number of subscribing Ports for the Missed Liquidity Report at any time during the month – a change of tiers shall not be prorated.

Either a Member or a Sponsored Participant may directly subscribe to either report.

Cboe Connect:

Market Data Connectivity*:

Data Feed	Fee Per Month
UQDF/UTDF/OMDF	$1,200
CQS/CTS	$1,400
OPRA	$4,500
Nasdaq Glimpse	$250
Nasdaq TotalView	$1,500
Nasdaq BX TotalView	$1,000
Nasdaq PSX TotalView	$750
NYSE OpenBook Ultra	$1,750
NYSE Integrated	$14,500
NYSE ArcaBook	$1,250
NYSE ArcaBook Refresh	$250
NYSE American OpenBook Ultra	$500
NYSE Alerts	$500
NYSE American Alerts	$500
NYSE Imbalances	$500
NYSE American Imbalances	$1,000
NYSE Trades	$500
NYSE Arca Trades	$500
NYSE American Trades	$1,000
BBDS/TDDS	$500
U.S. Equity Select + SIP Bundle (40% Discount)**	$5,910
OPRA + SIP Bundle (10% Discount)***	$6,390
BZX/BYX/EDGX/EDGA	FREE

* Fee covers both A and B feeds (over independent cross-connects) and is for connectivity only.

** U.S. Equity Select + SIP Bundle includes the following market data products: UQDF/UTDF/OMDF, CQS/CTS, Nasdaq TotalView, Nasdaq BX TotalView, Nasdaq PSX TotalView, NYSE OpenBook Ultra, NYSE ArcaBook, NYSE American OpenBook Ultra, and BBDS/TDDS.

*** OPRA + SIP Bundle includes the following market data products: OPRA, UQDF/UTDF/OMDF, and CQS/CTS.

Firms are required to pay any exchange related data fees directly to that exchange.

Unicast Access Order Entry:

Bandwidth	Fee Per Month
1Mb	$500
5Mb	$1,000
10Mb	$1,250
25Mb	$1,500
50Mb	$2,500
100Mb	$3,500

The Unicast Access Order Entry fee shall not be charged for bandwidth required to access BZX, BYX, EDGA, EDGX, BZX Options, EDGX Options.