9 Jul 2025
💼Cboe BZX CAT Funding Fees Impact for Industry Members in 2025
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; 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 Cboe BZX Exchange proposes a rule change to implement fees for Industry Members associated with the operational costs of the Consolidated Audit Trail (CAT) from July to December 2025. The fees are intended to cover reasonably budgeted costs essential for maintaining the CAT, impacting market participants significantly.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change establishes fees for Industry Members related to the funding of the Consolidated Audit Trail (CAT) for the second half of 2025. Businesses involved in securities trading must prepare for these new costs, directly impacting their operational budgets.