9 Jul 2025
💰Proposed Rule Change for CAT Funding Fees 2025
Self-Regulatory Organizations; Cboe 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 Exchange proposes a new fee structure for industry members to cover costs associated with the Consolidated Audit Trail (CAT) for the period of July 1 to December 31, 2025. This change reflects the funding model approved by the SEC and highlights the need for industry compliance in financial reporting and transaction oversight.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document outlines a proposed rule change to establish fees for Industry Members related to the budgeted costs of the National Market System Plan governing the Consolidated Audit Trail. This creates a direct financial obligation for industry members, which will impact their cost structure and compliance requirements.