Cboe C2 Files Options Regulatory Fee Update

Cboe C2 Exchange filed an immediately effective rule change with the Securities and Exchange Commission to amend its Options Regulatory Fee schedule.

The August 26 notice says C2 filed SR-C2-2026-021 on August 13. The filing describes the exchange’s move to an on-exchange ORF model for options transactions that clear in the customer range at the Options Clearing Corporation.

Under the new method, beginning July 1, 2026, C2 assesses ORF on each side of options transactions that execute on C2 and clear in the customer range. The filing states that the fee changes from $0.0003 per contract side under the prior all-customer-range method to $0.01417 per contract side under the on-exchange method.

C2 says ORF revenue, together with other regulatory fees and fines, is designed to recover a material portion of exchange regulatory costs, including surveillance, investigations, examinations, financial monitoring, policy, rulemaking, interpretation, and enforcement work.

Why it matters

Options regulatory fees can be passed through the clearing chain and ultimately affect transaction economics for customer options activity. The on-exchange model also matters for brokers that route orders across venues because the fee is tied to where the customer-range execution occurs.

What to watch next

Watch for similar ORF filings across other options exchanges and for broker fee schedules that explain how the new on-exchange charges are passed through to customers.