Cboe’s primary trading platforms, BZX Equities Exchange, BYX Equities Exchange, EDGA Equities Exchange, EDGX Equities Exchange, BZX Options Exchange, EDGX Options Exchange, C2 Options Exchange (C2), and the Cboe Options Exchange (C1) are housed in the NY5 Equinix data center in Secaucus, New Jersey. The secondary data center is hosted by Cyxtera (ORD1) in 350 Cermak, Chicago, IL, for all platforms. The secondary data centers for BYX, EDGX, and EDGA Equities Exchange (EDGA) are hosted by Equinix (CH3) in Elk Grove Village, IL. Customers are strongly encouraged to establish connectivity to both data centers to minimize service disruption in the event of an issue at either data center. Secaucus is the "primary" or "hot" site, with Chicago/Elk Grove Village being "secondary" or "warm". Customers may receive market data from Chicago, and they may connect and heartbeat with order entry systems in Chicago. Orders submitted to Chicago will be rejected until Cboe declares the primary site in Secaucus "down".

Cboe also provides a primary network Point of Presence (PoP) in the Equinix NY4 and NY6 data centers in Secaucus, NJ. Customers can leverage their NY4/NY6 PoP connectivity to access multicast market data feeds and order entry sessions in the Cboe’s primary data center. Customers may access the secondary network via PoPs located in Cyxtera ORD1 or Equinix CH1, both in 350 Cermak, Chicago, IL as well as CH3 in Elk Grove Village (available in June 2026).

It is the customer’s responsibility for selecting their telecommunications provider and arranging for connections to Cboe’s data centers and PoPs.

Cboe supports the following network connectivity choices for access to both Equities and Options:

• IPSec VPN via the Internet (only for certification or test sessions);
• Co-location Cross-connect (i.e., for customers co-located in the same data center as the Cboe trading platforms or a PoP);
• Extranet connectivity (See Cboe Approved Extranet Providers for a list of approved Extranet Providers); and
• Private line Ethernet (circuit extension from a carrier to Cboe, see the Carriers section for a list of Carriers)

The following standard physical interface specifications are supported in the ORD1, CH3, and CH1 data centers and PoPs. For other interface specifications contact noc@cboe.com.

The following standard physical interface specifications are supported in the NY4, NY5, and NY6 data centers:

*Contact Cboe NOC for details on ER Optical Transceivers

• Customers may connect via an IPSec Virtual Private Network (VPN) over the Internet for access to order entry and unicast market data feeds for certification and test purposes only. LAN-to-LAN IPSec VPN supported.
• IP address of the host presented to Cboe must be registered.
• Customers must contact Cboe NOC for encryption details and to receive their pre-shared key.

Note: Cboe does not offer multicast market data feeds over VPN.

Equities and Options customers may co-locate within the NY5 data center or a data center where a Cboe PoP is located and cross-connect to Cboe.

• Each physical port connection (1Gbps and 10Gbps) within the Secaucus, and Chicago data centers/PoPs will be subject to a monthly recurring charge. See the Cboe Fee Schedule for more information.
• Co-location cross connect requests must come from a demarcation point on the data center floor or Mezzanine level. Roof-top access requests will not be accepted.
• Cboe reserves the right to charge for one-time setup and monthly recurring fees incurred connecting customers or extranets. See the Cboe Fee Schedule for more information.

With data center co-location, customers can place equipment, terminate communications circuits, and establish a cross-connect to Cboe (or other destinations) in their space. This gives the maximum amount of control to the Member. This option is neutral for the customer and provides the greatest flexibility for the customer in determining when and to whom to connect. Customers interested in co-location services should contact the data center/PoP Point of Contact (refer to the Connectivity Matrix for POC information).

Customers may provision connectivity to Cboe via an extranet.

• Extranets have provisioned redundant connections to Cboe for use by multiple customers.
• Contact information for a variety of extranet providers can be found within Extranet Providers.

This method is an attractive alternative when:

• The customer would otherwise have to provision a long-haul private line;
• Outsourcing of network services and network management is an option; or
• The ease and speed of turn-up are important (when both the customer and Cboe have an existing connection to the extranet).

Customers may connect to Cboe via Private Line Ethernet.

• No co-location space is required. Cross-connect from Telco demarcation point to Cboe network via an Ethernet interface.
• Each physical port connections (1Gpbs and 10Gbps) within the Secaucus and Chicago data centers/PoPs will be subject to a monthly recurring charge. See the Cboe Options Fee Schedule for more information.
• Cboe reserves the right to charge for one-time setup and monthly recurring fees incurred connecting customers or extranets. See the Cboe Options Fee Schedule for more information.
• Contact your carrier of choice to arrange connectivity to Cboe. See Carriers for more information.

• The Cboe Global Cloud service provides three (3) distinct, secure connectivity and access options for customers:
  1. PrivateLink - This option is a suitable access method if customer systems and/or processes are running within AWS Cloud (i.e., a current AWS customer).
  2. Internet Gateway (IGW) - This option is a suitable access method for customer systems and/or processes running on-premises in a local data center, or in another infrastructure provider’s environment.
  3. Virtual Private Network (VPN) - This option is a suitable access method for customer systems and/or processes running on-premises in a local data center, or in another infrastructure provider’s environment, where an encrypted virtual private connection is preferred over internet delivery.
• Cboe Global Cloud enables Cboe Data availability and dissemination in locations around the world. Cboe Data is currently leveraging the Amazon Web services (AWS) global network in the following three (3) regions:
  1. Virginia (US-East-1)
  2. London (EU-West-2)
  3. Hong Kong (AP-East-1)
• Additional regions will be included in the service through a phased rollout based on client demand. See Cboe Titanium Cboe Global Cloud Feed Specification for more information.

A Cboe Customer Web Portal account is required to request a new cross connect or decommission existing connectivity to Cboe. Please see your firm’s account administrator or contact the Cboe Trade Desk (+1 913-815-7001) for an account.

• Location (NY5, NY4,… to include cage number if known)
• Number and speed of connections requested (1G or 10G)
• Registered BGP ASN (Cboe NOC can assign a private ASN)
• Networks advertised to Cboe (registered public IP’s or Cboe assigned private addresses are accepted
• Network and billing contact information
• Transit IP address (Public or private range assigned by Cboe NOC)

Upon approval of cross connect request, Cboe NOC will provide a Letter of Authorization - Customer Facility Assignment with the "Z-side" cage, cabinet, panel, and port pair assignment. The customer requesting the cross connect is known as the "A-Side".

The requesting customer submits a cross connect request with the appropriate data center provider:

• Equinix - NY5, NY4, NY6 and CH1
• Cyxtera - ORD1

The data center provider will need the LOA-CFA and the A-side details to complete the connection. The "A-Side" customer is responsible for any data center setup fees and monthly recurring costs associated with the cross connect. As the "A-Side" customer, the customer is also responsible for initiating troubleshooting requests with the data center provider in the event of a down cross connect.

Cross connects originating within either NY4, NY5, or NY6 data centers will be engineered to provide equivalent latency between member demarcation points and the Cboe’s order entry gateways in NY5. Equal fiber pathway latency will be determined by OBR testing. WAN circuits originating outside Secaucus, NJ will also be subject to latency equalization. For more details, see Cboe Latency Equalization.

Customers can submit a request to the Cboe NOC to relocate cross connects to another switch port on the same switch or a different switch within the same Data Center. The following guidelines must be adhered to:

• Only Layer 3 NY4, NY5, or NY6 cross connects are eligible for physical port relocation within the same data center.

• Requests must be submitted in writing to noc@cboe.com.

• Requests must be submitted at least seven (7) calendar days prior to the requested move date.

• Moves can only be performed during normal maintenance windows.

• Requests must include either the Equinix-assigned cross connect ID or the transit IP address to properly identify the connection being moved.

• The physical port being moved must have been in service for at least 90 days prior to the request. Physical ports are not eligible for relocation for 90 days after the requested move.

• Relocation requests are limited to two (2) physical ports per request. Firms must wait until the relocation request has been fulfilled before submitting subsequent requests.

• Port relocation requests will be randomly assigned from currently available ports. The Cboe NOC will not disclose the current switch port location or the new port number following relocation.

• Port relocation requests to another switch must stay on the same switch path type (i.e., primary to primary and secondary to secondary switches).

• Port relocations may require a transit IP address change.

To maintain fair and orderly markets and prevent potential network congestion issues, Cboe monitors inbound bandwidth per 10 Gbps physical port at the customer access switch level. Any 10 Gbps physical network connection which receives inbound data exceeding a bandwidth limit of a 5 gigabit per second (5 Gbps) average measured over a two second time interval will automatically be disabled. This inbound bandwidth limit is based on observations of actual data traffic patterns and is equally applied across all Cboe customer 10 Gbps physical ports.

The bandwidth limit is an inbound data limit and thus does not apply to outbound data, such as market data, received through a physical port. However, if a physical network connection is disabled due to exceeding the inbound bandwidth limit, the physical network connection will not be able to submit inbound data or receive outbound data until it is re-enabled.

To re-enable an impacted physical network connection disabled due to exceeding the inbound bandwidth limit, a customer must contact Cboe NOC and provide a written post-mortem outlining the issue that caused the bandwidth limit to be exceeded and the actions taken to remediate the issue. Any connection disabled a second time within the same trading day for exceeding the inbound bandwidth limit will be re-enabled only after an additional written post-mortem is received and customer testing has been performed with Cboe NOC during standard Cboe maintenance hours.

Equities/Options employs both 1G and 10G dedicated switches that serve as the network access point for customer connections. The number of switches at this layer is largely based on customer demand. Uplinks use the vendor default hashing algorithm.

^*Switching mode is effectively store-and-forward one way due to speed change from 10G to 100G.

These are chassis-based switches designed to mesh the customer access layer with the Environment core layer. The Data Core layer services seven environments - BZX Equities, BYX Equities, EDGA Equities, EDGX Equities, BZX Options, EDGX Options, and C2 Options. Uplinks use the vendor default hashing algorithm.

^*Each environment is spread across two Data Center Core switches

Cores 1 & 2 - BYX Equities, EDGA Equities, EDGX Equities, and C2 Options

Cores 3 & 4 - BZX Equities, BZX Options, and EDGX Options

This layer uses dedicated switches for connecting the BZX Equities, BYX Equities, EDGA Equities, EDGX Equities, BZX Options, EDGX Options, and C2 Options environments Top of Rack (ToR) switches with the DC Core layer. Uplinks use the vendor default hashing algorithm.

These switches function to connect order handler servers to the Environment Core switches. Each server NIC is connected to two ToR switches in an active/passive redundancy model.

C1 Options employs both 1G and 10G dedicated switches that serve as the network access point for customer connections. The number of switches is largely based on customer demand. Uplinks use the vendor default hashing algorithm.

*Switching mode is effectively store-and-forward one way due to speed change 1G to 100G or 10G to 100G.

These are chassis-based switches designed to mesh the customer access layer with the Top of Rack layer. Uplinks between layers are all 2x100G port-channel using the vendor default hashing algorithm.

These switches function to connect order handler servers to the Data Center Core switches. Each server NIC is connected to two ToR switches in an active/passive redundancy model.

Cboe offers four different types of market data feeds:

• Multicast PITCH
• TCP PITCH
• TOP
• Last Sale

Cboe requires that customers allocate a minimum of 10 Gbps per Multicast PITCH 8G or 5G-shaped feed, 1 Gbps per Gig-Shaped feed, and 100 Mb/s per Multicast PITCH WAN-Shaped feed. With respect to TCP PITCH and TOP feeds, Cboe understands firms will have varying levels of sensitivity with respect to latency and as such encourages customers to use the statistics provided below to make a well-informed decision regarding the bandwidth they will require based on their organization’s latency sensitivity.

The table below shows the bandwidth statistics for historical highs for Cboe market data feeds. The table shows the bandwidth and Messages Per Second (MPS) peaks for 1, 5, 10, 30, and 60-second intervals. Peaks for 1 and 10 millisecond interval peaks are also included. The TCP statistics include 11 bytes for TCP/IP overhead per packet and do not include the data link layer overhead.

*Statistics as of 03/01/2026. Equities TOP feed is TCP. Options TOP feed is multicast.

Note that Cboe data will have microbursts within the one-second interval above, and these microbursts will exceed the peak rates at the one-second interval. This is demonstrated within the 1 and 10 millisecond interval statistics. The extent to which the network connection to the customer will cope with the microbursts exceeding the available bandwidth without packet loss will depend heavily on the buffers in the end-to-end path.

During spikes in quote updates, customers using less than sufficient bandwidth will experience queuing of their market data. Customers using the same bandwidth to both receive quotes and transmit orders may expect their orders to be slightly delayed if they have less than sufficient bandwidth. Many customers will find these delays unacceptable and should provision their bandwidth to reduce these delays. The following table demonstrates statistics regarding latency incurred as a result of queuing on Gig-Shaped and WAN-Shaped Multicast PITCH feeds.

^*Statistics as of 03/01/2026.

As the volume on an exchange increases, the market data feed bandwidth required to accommodate peaks will also grow. Customers can obtain the latest published market data bandwidth and serialization statistics within this Connectivity Manual. Additionally, monthly statistical updates are presented through the FIF Market Data Capacity working group.

Key features include:

• Low latency, up to 50% latency reduction vs. TCP PITCH.
• Bandwidth versions:
  • Gig-Shaped, requires minimum gigabit cross-connect.
  • WAN-Shaped (Equities Only) shaped to 100Mb.
  • 5G-Shaped (Options only) requires a dedicated 10G connection.
  • 8G-Shaped (BZX, C2, EDGX and C1 Options only) requires a dedicated 10G connection.
• Gap Response Proxy to recover small data gaps.
• Spin Server to efficiently recover from intra-day disconnects.
• Efficient binary messaging and new modify order message.

Refer to the Cboe Titanium U.S. Equities/Options Multicast Depth of Book (PITCH) Specification for complete details.

*1G connections can only subscribe to non-full-depth of book C1 market data products shaped 1G and smaller

Exchange customers will be able to select from three different types of 10G connections:

*1G connections can only subscribe to non-full-depth of book C1 market data products shaped 1G and smaller.

Refer to the Cboe Titanium U.S. Equities TCP Depth of Book (PITCH) Specification for complete details.

The Cboe TOP feed offers up to 66% reduction in events and 84% reduction in bandwidth compared to the Cboe PITCH market data feed. Refer to the Cboe Titanium U.S. Equities TOP Specification for complete details.

The Last Sale feed is ideal for market data distributors. It is a real-time, intraday TCP feed that disseminates matched trade price, volume, and execution time from the Cboe Exchange order book. Users only need 2Mb of bandwidth to take this extremely efficient feed in real-time. Refer to the Cboe Titanium U.S. Equities Last Sale Specification for complete details.

Bandwidth recommended for submitting orders via FIX depends on expected customer order volume. If a customer intends to submit orders to Cboe and will not receive market data, then it is possible that the customer can connect with less than a T1 equivalent connection. The following table shows the maximum number of inbound orders (and/or cancels) per second that can be handled, with no buffering or delay, with different capacity connections.

Some telecommunications providers available within the Secaucus and Chicago data centers/PoPs are listed below. This list is a summary and is not indicative of Cboe’s preference or recommendation. For telecommunications providers not included on the list, please contact the Cboe NOC to discuss.

Cboe partners with several extranet providers to aggregate customer connectivity and provide low cost, value-added B2B services such as multicast market data feeds. Extranet providers are required to sign Telecommunications Service Provider Agreement after meeting the requirements outlined in the Cboe Titanium U.S. Extranet Manual.

^* Z = BZX Equities, Y = BYX Equities, A = EDGA Equities, X = EDGX Equities, C = C1 Options, O = BZX Options, EDGX Options, or C2 Options

Telecom carriers provide a dedicated circuit between customers in different data centers to a demarcation point in the Secaucus or Chicago data centers/PoPs. The circuit is extended from the demarc to a Cboe’s network device.

It is recommended that customers use redundant connectivity via multiple telecommunications providers to each of the Cboe data centers.

Contact the Cboe NOC for information about circuit ordering details (e.g. NPA-NXX, LOA/CFA requirements, demarcation information, etc.).