Wall Street Firms Must Pay for Their Own Surveillance
Published Date: 1/6/2025
Notice
Summary
Starting in 2025, Cboe BZX Exchange will charge industry members a tiny fee of $0.000022 for every share traded to help cover the costs of the Consolidated Audit Trail (CAT), a system that tracks stock trades. This change affects traders and firms using the exchange and kicks in right away to keep the CAT system running smoothly. It’s a small price to pay for big transparency and market safety!
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Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Per‑Share CAT Fee for 2025
Starting in 2025, Cboe BZX Exchange will charge industry members a fee of $0.000022 for each executed equivalent share to help fund the Consolidated Audit Trail (CAT). The Exchange filed the rule change on December 20, 2024 and designated the proposal for immediate effectiveness.
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