9 Jul 2025
📈Proposed CAT Fee 2025-2 Notice for Industry Members
Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted Costs of the National Market System Plan Governing the Consolidated Audit Trail for the Period From July 1, 2025 Through December 31, 2025
Summary
The SEC issued a notice regarding the proposed CAT Fee 2025-2, aimed at establishing fees for industry members related to the budgeted costs of the National Market System Plan. The new fee will apply for transactions from July 1, 2025, to December 31, 2025, and seeks to cover operational costs associated with the Consolidated Audit Trail.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The document outlines the proposed CAT Fee 2025-2, which directly impacts financial obligations for Industry Members. Businesses involved in securities trading will incur a new fee of $0.000009 per executed equivalent share, reflecting budgeted costs for the Consolidated Audit Trail. This introduces additional compliance and expense considerations for affected firms.