The Cboe BZX Exchange, Inc. filed a proposed rule change with the Securities and Exchange Commission to amend its fee schedules for options and equities. This amendment aims to streamline billing by establishing that all fees and rebates are considered final after three months, encouraging prompt invoices review by Members and Non-Members. Disputes must be submitted in writing with supporting documentation, which helps both parties address discrepancies efficiently and prevents long-term resource expenditure on billing errors. The proposal aligns with similar practices at other exchanges and seeks to ensure a fair and consistent billing process.
Simple Explanation
The Cboe BZX Exchange decided that after three months, everyone should agree that the money they've paid or received is correct to avoid arguing a long time later. If someone thinks there's a mistake, they have to say so quickly and show proof, which makes it easier for everybody to fix problems without it being a big hassle.