Fee Schedule

Cboe UK: Connectivity and BXTR Pricing changes, effective 1st January 2020

October 31, 2019 09:21:54

Dear Cboe UK Participants,

Cboe UK (Cboe) would like to inform Participants and subscribers to Connectivity, BXTR and Indices services of fee changes, effective 1st January 2020

Change summary by fee type:

Connectivity services. The revised 2020 Logical and Physical Connectivity Price Lists are available in the Cboe document library and for download at the links below:

Logical Connectivity: http://cdn.cboe.com/resources/participant_resources/CboeUK_LogicalConnectivityPricing_Effective.pdf

Physical Connectivity: http://cdn.cboe.com/resources/participant_resources/CboeUK_PhysicalConnectivityPricing_Effective.pdf

Key points to note:

* There are no structural changes to the fee types or methodology used for calculation of fees

* Small fee changes for physical and logical connectivity

BXTR Trade Reporting Services (which includes the APA Service):

http://cdn.cboe.com/resources/participant_resources/CboeUK_BXTRPricing_Effective.pdf

Key points to note:

* There are no structural changes to the fee types or methodology used for calculation of fees

* There are no changes to the Non-Standard ETR Settlement fee types

* Small fee changes to all other BXTR related fee types

Cboe Indices:

No change to current pricing

https://cdn.cboe.com/resources/participant_resources/Cboe_Europe_Index_Price_List.pdf

Please contact your Account Manager if you have any questions at [email protected]. All current and historical Cboe UK fee notices are available at https://markets.cboe.com/europe/equities/notices/fee_schedule/.

Thank you for your continued support.

Trade Desk
Cboe Europe Equities
T. +44 20 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >

Cboe NL: Logical Connectivity Pricing changes, effective 1st January 2020

October 31, 2019 09:19:44

Dear Cboe NL Participants,

Cboe NL (Cboe) would like to inform Participants and subscribers to Logical Connectivity of fee changes, effective 1st January 2020

Change summary:

Connectivity services. The revised 2020 Logical Connectivity Price List is available in the Cboe NL document library and for download at the link below:

http://cdn.cboe.com/resources/participant_resources/CboeNL_LogicalConnectivityPricing_Effective.pdf

Key points to note:

* There are no structural changes to the fee types or methodology used for calculation of fees

* Small fee changes for logical connectivity

Please contact your Account Manager if you have any questions at [email protected]. All current and historical Cboe NL fee notices are available at https://markets.cboe.com/europe/equities/notices/fee_schedule/.

Thank you for your continued support.

Trade Desk
Cboe Europe Equities
T. +44 20 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >

Cboe NL – Logical Connectivity Price List effective 1st November 2019

October 29, 2019 10:26:29

Dear Cboe NL Participants,

In response to the further Brexit delay, Cboe is pleased to confirm it will implement the following policy to the Cboe NL Logical Connectivity Price List effective 1st November 2019 until further notice. This change will help customers minimise their infrastructure costs on DXE Order Books on Cboe NL.

A minimum charge of 1 port/set for each Order Book port type that is held by the firm will apply. However, if using more than the minimum then the firm will be charged for the Order Book ports used in the following manner broken down by port type:

Logical Connectivity Port Type

Calculation methodology

FIX & Binary Order Entry Ports - Order Books

If trades or ETRs have been conducted via a port in the billing month they will be charged

Drop Copy Ports – Order Books

If logged into during the billing month they will be charged

TCP Pitch Ports –Order Books

If logged into during the billing month they will be charged

Multicast PITCH – GRP & SPIN – Order Books

A maximum of one port set will be charged

All other port types are unaffected by this change.

All current and historical Cboe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/release_notes/.

Please contact the Trade Desk or your Account Manager if you have any questions.

Trade Desk
Cboe Europe Equities
T. +44 20 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >

Cboe Europe: Market Data Pricing changes, effective 1st January 2020

September 30, 2019 14:24:09

Dear Cboe Europe Equities Participants

Cboe Europe (Cboe) would like to inform Data Recipients of changes to its market data pricing and policy, effective 1st January 2020. Please review the updated documents listed below:

* Data Recipient Agreement http://cdn.cboe.com/resources/participant_resources/CboeUK_DRA_2020.pdf

* Market Data Price List http://cdn.cboe.com/resources/participant_resources/CboeUK_MDPricing_2020.pdf

All price lists are available in our Document Library.

* Market Data Policy http://cdn.cboe.com/resources/participant_resources/CboeUK_Data_Policy_2020.pdf

* Financial Product Licence Order Form http://cdn.cboe.com/resources/participant_resources/CboeUK_Financial_Product_Licence_Order_Form_2020.pdf

All updated Market Data contractual and policy documentation is available on the Cboe Market data page: http://markets.cboe.com/market_data_services/document_library/#EUEquities

Please contact your Account Manager if you have any questions at [email protected]. All current and historical Cboe Europe Equities notices are available at http://markets.cboe.com/europe/equities/notices/.
Trade Desk
Cboe Europe Equities
T. +4420 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >

Cboe UK and Cboe NL - Trading Pricing Effective 1st October 2019

September 16, 2019 09:52:50

Dear Cboe UK and NL Participants,

Cboe Europe is pleased to announce Trading Pricing for Cboe UK and Cboe NL effective 1st October 2019.

Cboe UK Trading Price List

· New pricing will be introduced for executions in Polish, Hungarian and Czech securities on the CXE Lit Order Book

o Polish, Hungarian and Czech securities will be removed from the CXE Lit Order Book Tiered Pricing and will be separately charged as follows:

§ Displayed added executions

· Value Traded - Liquidity Provider Scheme (LPS)

o -1.00 bps add charge

· Value Traded - Non-Liquidity Provider Scheme (LPS)

o 0.00 bps add charge

§ Removed executions

· All Value Traded

o 1.20 bps remove charge

· All other pricing remains unchanged

· Cboe UK Trading Price List

Cboe NL Trading Price List

· DXE Lit Order Book

o DXE add and remove charges and displayed tier thresholds will mirror the CXE Lit Order Book add and remove charges and displayed tier thresholds

o Polish, Hungarian and Czech securities on DXE will be charged as detailed above on CXE

o DXE LPS will operate in conjunction with the DXE Lit Order Book displayed added executions

· DXE Dark Order Book

o DXE Dark Order Book charges mirror the CXE/BXE Dark Order Book Trading Pricing

· DXE Periodic Auctions Book

o DXE Periodic Auctions Book charges mirror the BXE Periodic Auctions Book Trading Pricing

· Cboe NL Trading Price List

All Cboe UK and Cboe NL Price Lists can be found here.

All current and historical Cboe Europe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/schedule_update/.

Please contact the Trade Desk or your Account Manager if you have any questions.

Trade Desk
Cboe Europe Equities
T. +44 20 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >

UPDATE: Cboe Europe: Cboe Closing Cross (3C) Launch, effective Fri 16th August 2019

August 09, 2019 12:22:30

Dear Cboe Europe Equities Participants,

In light of several inbound customer enquiries, Cboe Europe is pleased to reconfirm the launch of Cboe Closing Cross (3C) on the BXE Order Book, effective Friday 16th August, 2019.

Summary

* The 3C session will operate under the MIC 'BATE' on the BXE platform only, using a differentiated crossing algorithm

* The 3C session for all non-REGM symbols will begin at 16:30 UK time and will run for 45 minutes until 17:15 UK time

* A series of 3C crossing periods, 60 seconds in duration, will run back to back throughout the 3C session

* Allowed orders will be visible and at limit only

* Min Qty and Broker Preferencing will be supported

Pricing
Executions in the 3C session will be free of charge for 2019. The updated trading price list is available here.

Certification (UAT) Testing

* 3C is now available in the BXE Certification (UAT) environment

* The 3C session will run each day at 16:30 for 45 minutes until 17:15 for all non-REGM symbols in every market segment, with the exception of Stockholm (XSTO).

* In order to facilitate customer testing requirements in the run up to launch, please note that UAT will operate in 3C mode from 08:30 until 17:15 for symbols in the Stockholm (XSTO) market segment.

Production
3C will be available in the BXE Production (PROD) Environment effective Friday 16th August, 2019 for all market segments as per the Guidance note (link below).

Documentation
Cboe Closing Cross Guidance Note
Cboe Europe Technical Specifications

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/release_notes/.

Trade Desk
Cboe Europe Equities
T. +4420 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected]oe.com | cboe.com >

Cboe Europe: Cboe Closing Cross (3C) Launch, effective Fri 16th August 2019

July 31, 2019 13:03:49

Dear Cboe Europe Equities Participants,

Cboe Europe is pleased to announce Cboe Closing Cross (3C) for the BXE Order Book, effective Friday 16th August, 2019.

Summary

* The 3C session will operate under the MIC 'BATE' on the BXE platform only, using a differentiated crossing algorithm

* The 3C session for all non-REGM symbols will begin at 16:30 UK time and will run for 45 minutes until 17:15 UK time

* A series of 3C crossing periods, 60 seconds in duration, will run back to back throughout the 3C session

* Allowed orders will be visible and at limit only

* Min Qty and Broker Preferencing will be supported

Pricing
Executions in the 3C session will be free of charge for 2019. The updated trading price list is available here.

Certification (UAT) Testing
3C is now available in the BXE Certification (UAT) environment.
Production
3C will be available in the BXE Production (PROD) Environment effective Friday 16th August, 2019.

Documentation
Cboe Closing Cross Guidance Note
Cboe Europe Technical Specifications

Please contact the Trade Desk or your Account Manager if you have any questions.

All current and historical Cboe Europe Equities notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/release_notes/.

Trade Desk
Cboe Europe Equities
T. +4420 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >

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July 31, 2019 09:21:34

Dear Cboe NL Participants,

In preparation for the upcoming launch of the Cboe NL APA on 2nd September 2019 and Cboe NL venue (DXE) on 1st October 2019, Cboe is pleased to confirm the structure of non-transaction pricing (Connectivity, BXTR, Market Data). A further announcement will be issued in due course confirming the Trading Pricing structure for Cboe NL.

Connectivity Pricing

· Logical Connectivity

o The price list retains the structure of the existing Cboe UK price list but with new Euro denominated values

o Logical port fees for DXE will be waived for October 2019 to assist firms defining their technical footprint. The first billing count for all DXE port types will be taken at the end of November 2019 for November invoicing

o Logical port fees for Cboe NL APA and SI quoting services will be effective from 2nd September 2019

o The price list can be found here Cboe NL Logical Connectivity Price List

· Physical Connectivity

o All Physical Connectivity will continue to be billed out of Cboe UK

BXTR Pricing

· APA

o The price list retains the structure of the Cboe UK APA price list but with new Euro denominated values

· Exchange Trade Reports (ETRs)

o The price list retains the structure of Cboe UK but with new Euro denominated values

· SI Quoting

o The price list retains the structure of Cboe UK but with new Euro denominated values

o In addition, an in jurisdiction fee for Participants only quoting in EEA listed symbols only has been introduced

· The BXTR price list can be found here Cboe NL BXTR Price List

Market Data Pricing

· All Market Data will continued to be billed out of Cboe UK

Documentation

· All Cboe UK and Cboe NL Price Lists can be found here

All current and historical Cboe Europe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/schedule_update/.

Please contact the Trade Desk or your Account Manager if you have any questions.

Trade Desk
Cboe Europe Equities
T. +4420 7012 8901 (UK); +31 20 299 6801 (NL)
E. [email protected] | cboe.com >

Cboe Europe Equities: Suspension of trading in Swiss registered shares, effective Mon 1st July 2019

June 24, 2019 17:27:14

Dear Cboe Europe Participants,

Following the notice published by the Swiss Federal Council, as from 1st January 2019, a recognition obligation has been applicable to foreign trading venues if they admit shares of Swiss registered companies to trading or permit trading in such shares. In the event that Switzerland is not granted equivalence from the EU by Sunday 30th June 2019, Cboe Europe (Cboe) will not be permitted to admit to trading securities with a Swiss registered office and listed on a Swiss exchange with effect from the start of trading on Monday 1st July 2019. Please note that this applies only to shares (ETFs, ETCs, ETNs are not impacted).

In practice, this means that all On-Exchange activity (Order Books, Periodic Auctions, Cboe LIS, ETRs) in the affected instruments, will be rejected by Cboe. Please note that the submission of OTC trade reports or SI quotes to the APA (TRF) or SI platforms are unaffected and will continue to be permitted.

Affected Instruments

Summary:
Security type

Listing Jurisdiction

Status from effective date

Swiss registered company (Equity)

Switzerland

Delisted

Swiss registered company (Equity)

Switzerland + EU RIE

Delisted

Swiss registered company (Equity)

EU RIE

Ok to trade

Please find attached the instrument data for the affected securities as well as a list of the same symbols below:

ABBNz,ADENz,ADVNz,ADXNz,AEVSz,AIREz,AIRNz,ALCz,ALLNz,ALPHz,ALPNz,ALSNz,ANFOz,ARBNz,ARONz,ARYNz,ASCNz,AUTNz,BAERz,BALNz,BANBz,BAPz,BARNz,BBNz,BCGEz,BCHNz,BCVNz,BEANz,BEKNz,BELLz,BIMz,BIONz,BKWz,BLKBz,BOBNNz,BOSNz,BPDGz,BRKNz,BSKPz,BSLNz,BUCNz,BVZNz,CALNz,CASNz,CEVAz,CFRz,CFTz,CICNz,CIEz,CLNz,CLTNz,CLXNz,CMBNz,CONz,COTNz,CPHNz,CSGNz,CSLPz,DAEz,DCNz,DESNz,DKSHz,DOKAz,DUFNz,EDHNz,EEIIz,EFGNz,ELMNz,EMMNz,EMSNz,ESUNz,EVEz,FHZNz,FINz,FIRz,FONCz,FORNz,FRENz,FTONz,GALEz,GAMz,
GAVz,GEBNz,GIVNz,GLKBNz,GLOBIz,GMIz,GREENz,GRKPz,GURz,HBLNz,HELNz,HIAGz,HLEEz,HOCNz,HOSPz,HRENz,HUBNz,IDIAz,IFCNz,IMPNz,IMz,INRNz,INTz,IRENz,ISNz,JFNz,KARNz,KLINz,KNINz,KOMNz,KUDz,LANDz,LECNz,LEHNz,LHNz,LINNz,LISNz,LISPz,LLQz,LOGNz,
LONNz,LUKNz,MBTNz,METNz,MIKNz,MOBNz,MOZNz,MTGz,NBENz,NESNz,NEVz,NOVNEz,NOVNz,NTIVz,OBSNz,ODHNz,OERLz,OFNz,ORONz,PARGz,PEANz,PEDUz,PEHNz,PFIz,PGHNz,PLANz,PMz,POLNz,PRFNz,PSCFz,PSPNz,PSREFz,PWTNz,RDFz,RIENz,RIGNz,RLDz,RLFz,ROGz,ROSEz,ROz,RUSz,SAHNz,SANNz,SCHNz,SCHPz,SCMNz,SENSz,SFPFz,SFPNz,SFSNz,SFZNz,SGKNz,SGSNz,SIATz,SIGNz,SIKAz,SIMAz,SLHNz,SNBNz,SOONz,SPCEz,SPSNz,SQNz,SRAILz,SRCGz,SREAz,SRENEz,SRENz,STGNz,STLNz,STMNz,STRNz,SUNz,SWRESz,SWTQz,TAMNz,TECNz,TEMNz,TIBNz,
TKBPz,TOHNz,UBCHz,UBSGz,UBXNz,UHRNz,UHRz,VACNz,VALNz,VATNz,VETz,VIFNz,VILNz,VONNz,VZNz,WKBNz,YPSNz,ZGz,ZUBNz,ZURNz,ZWMz,ABBs,BBZAd,BBm,CSXd,ED4d,LHNp,NESRd,NOTd,YZAi

Certification (UAT) Testing
In preparation, the trading suspensions described above will be deployed in the CERTIFICATION environments, effective Wednesday 26th June 2018

UAT Symbol Reference Data: http://certification.bats.com/europe/equities/support/reference_data/

The updated Production Symbol Reference Data Files will be available on our website at http://markets.cboe.com/europe/equities/support/reference_data/.

All current and historical Cboe Europe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/schedule_update/.

Please contact the Trade Desk or your Account Manager if you have any questions.

Trade Desk
Cboe Europe Equities
11 Monument Street | London, EC3R 8AF
T. +44 207 012 8901
E. [email protected] | cboe.com >

Cboe Europe Equities: Pricing effective Mon 1st April 2019

February 28, 2019 13:48:35

Dear Cboe Europe Equities Participants,

Cboe Europe Equities (Cboe) would like to announce:

· The introduction of a new Liquidity Provider Incentive Scheme (LPS) and

· Brexit related pricing on Cboe UK Equities (Cboe UK) and Cboe EU Equities (Cboe EU)

Cboe Liquidity Provision Incentive Scheme (LPS)

Cboe will introduce a new Liquidity Provider Incentive Scheme (LPS) relating to added executions on the CXE Lit Order Book, effective Monday 1st April 2019. The LPS will apply to the securities trading on the Exchange/s operated by Cboe on the 1st April 2019.

Eligibility
All participants will be automatically enrolled into the LPS monitoring.

Obligation
LPS applies only to those securities that participants are active in. Participants must achieve a minimum average 0.5% passive market share of the total passive value traded on the CXE lit order book in those securities over a month in order to be eligible.

Incentives
Participants that achieve the minimum LPS obligations will qualify for a rebate based upon the total notional value of added executions in their active securities. The total notional value of those added executions will be included in the CXE Lit add rebate tiered pricing.

Participants that fail to meet the minimum LPS obligations will not be eligible to receive a rebate on the total notional value of added executions in their active securities.

Implementation
In the event of Cboe not launching its new EU-regulated venue on the 1st April 2019 the scope of pricing change is limited to the above LPS and will operate in conjunction with the updated Trading Price List available here

In the event of Cboe launching its new EU-regulated venue the scope of pricing changes will be as detailed below.

Brexit related pricing changes

Subject to regulatory approval and in the event of Cboe launching its new EU-regulated venue on the 1st April 2019 the following changes will be implemented by venue:

Venue: Cboe UK

Trading Pricing

· CXE Lit Order Book tiering thresholds adjusted to reflect the trading of UK and Swiss listed symbols only in £

· LPS will operate as detailed above but in conjunction with the revised Cboe UK CXE Lit Order Book tiered pricing

· Cboe UK Trading Price List

Connectivity Pricing

· Physical Connectivity

o No changes to Physical Connectivity. Physical Connectivity will be split out onto its own Price List following the launch of Cboe EU and can be found here

· Logical Connectivity

o Introduction of a discount model on GRP/SPIN port sets.

o Cboe UK Logical Connectivity Price List

o Please note, to assist firms in their rationalisation of free transition ports, the first billing count for all port types will be taken at the end of the first month following the launch of Cboe EU

BXTR Pricing

· Exchange Trade Reports (ETRs)

o Multiparty ETR pricing matrix adjusted to reflect the trading on UK and Swiss listed symbols only

· SI Quoting

o Introduction of an in jurisdiction fee for Participants only quoting in UK and Swiss listed symbols only

· Cboe UK BXTR Price List

Market Data Pricing

· No changes

Venue: Cboe EU

Trading Pricing

· CXE Lit Order Book tiering thresholds adjusted to reflect the trading of EEA listed symbols only

· LPS will operate as detailed above but in conjunction with the revised Cboe EU CXE Lit Order Book tiered pricing

· Cboe EU Trading Price List

Connectivity Pricing

· Physical Connectivity

o All Physical Connectivity will continue to be billed out of Cboe UK

· Logical Connectivity

o Introduction of a discount model on GRP/SPIN port sets

o Cboe EU Logical Connectivity Price List

o Please note, to assist firms in their rationalisation of free transition ports, the first billing count for all port types will be taken at the end of the first month following the launch of Cboe EU

BXTR Pricing

· Exchange Trade Reports (ETRs)

o Multiparty ETR pricing matrix adjusted to reflect the trading on EEA listed symbols only

· SI Quoting

o Introduction of an in jurisdiction fee for Participants only quoting in EEA listed symbols only

· Cboe EU BXTR Price List

Market Data Pricing

· All Market Data will continued to be billed out of Cboe UK

Documents

· All Price Lists can be found here

All current and historical Cboe Europe notices, including symbol universe updates, are available online at http://markets.cboe.com/europe/equities/notices/schedule_update/.

Please contact the Trade Desk or your Account Manager if you have any questions.

Trade Desk
Cboe Europe Equities
11 Monument Street | London, EC3R 8AF
T. +44 207 012 8901
E. [email protected] | cboe.com >