11 Jul 2025
💰New CAT Fee 2025-2 Affecting Industry Member Costs
Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fee Schedule 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 Securities and Exchange Commission has announced the proposed CAT Fee 2025-2, scheduled for implementation from July to December 2025. This fee, charged per executed equivalent share, is designed to help cover budgeted costs associated with the Consolidated Audit Trail's operation, affecting businesses engaged in equity trading.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change introduces CAT Fee 2025-2, requiring Industry Members to pay $0.000009 per executed equivalent share. This affects operational costs for businesses involved in equity securities trading, necessitating adjustments in budgeting and financial strategies to manage the new fees.