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Frequent Trader Program

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Frequent Trader is a voluntary incentive program for trading activity in certain Cboe® proprietary products that is available to non-Trading Permit Holder, non-broker/dealer customers ("C" origin code for options), professional customers and voluntary professionals ("W" origin code) (collectively "customers"). Rebates are given on Cboe customer transaction fees based on the activity of each individual Frequent Trader ID ("FTID").

Frequent Trader Program Quick Reference Guide

Available to non-Trading Permit Holder, non-broker/dealer (i.e. customer) users such as:

  • Asset Managers
  • Corporate Treasuries
  • ETF/ETN Providers
  • Family Offices
  • Hedge Funds
  • Individuals
  • Insurance Companies
  • Mutual Funds
  • Pensions
  • Proprietary Trading Firms
  • Rebates apply for trading activity in RUT, VIX®, SPX and SPXW options.
  • Customers obtain a unique FTID that can be appended to orders delivered to Cboe during both Regular Trading Hours ("RTH") and Global Trading Hours ("GTH").
  • Volume associated with each FTID is aggregated to qualify for certain rebates of Cboe customer transaction fees.
  • Each customer is responsible for ensuring their FTID is appended to their orders.

Options Rebate Schedule

VIX Options SPX / SPXW / SPXpm Options RUT Options
Tier Monthly Contracts Traded Fee Rebate Monthly Contracts Traded Fee Rebate Monthly Contracts Traded Fee Rebate
1 10,000-99,999 5% 10,000-49,999 3% 10,000-24,999 10%
2 100,000-299,999 15% 50,000-99,999 6% 25,000-49,999 15%
3 300,000 and above 25% 100,000 and above 9% 50,000 and above 25%

Please visit the Frequent Trader ID Registration page to register.

Application for Volume Aggregation for Frequent Traders

FAQs

Please read the rule filing for the Frequent Trader Program for more information. A copy of the rule filing will be available on our Rule Filings page.