NYSE Chicago Charges Wall Street for Big Brother Trading Surveillance
Published Date: 1/10/2025
Notice
Summary
NYSE Chicago is setting a new fee for industry members to help cover the 2025 costs of the Consolidated Audit Trail (CAT), a system that tracks stock trades. Starting February 2025, brokers will pay $0.000022 per executed share to support this important market tracking tool. This change affects anyone involved in executing trades on NYSE Chicago and kicks in right away!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
New per-share CAT fee of $0.000022
If you are an Industry Member or a broker executing trades on NYSE Chicago, the Exchange is charging a new CAT Fee 2025-1 of $0.000022 per executed equivalent share payable to Consolidated Audit Trail, LLC.
Replaces 2024 fee and only recovers half of 2025 costs
CAT Fee 2025-1 (rate $0.000022) is intended to replace CAT Fee 2024-1 (which had a rate of $0.000035) and is anticipated to recover approximately one-half of the reasonably budgeted CAT costs for 2025.
Billing starts February 2025 for January trades
CAT Executing Brokers will receive their first monthly invoice for CAT Fee 2025-1 in February 2025, calculated from their January 2025 transactions; the fee is anticipated to be in place for six months.
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Previous / Next Documents
Previous: 2025-00292 — Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for 2025
Starting in 2025, NYSE Arca is setting a tiny new fee for industry members to help cover the costs of the Consolidated Audit Trail (CAT), a system that tracks stock trades. If you’re a broker or trader using NYSE Arca, expect a small charge of $0.000022 per share traded. This fee kicks in right away to keep the CAT system running smoothly and fairly.
Next: 2025-00294 — Self-Regulatory Organizations; Nasdaq BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Increase the Exchange's Port Fees in BX Options 7, Section 3
Nasdaq BX is raising the fees for certain connection ports used by traders in their options market, specifically for the Specialized Quote Feed (SQF) ports. This change affects market makers who use these ports to send and receive trading info. The new fees kicked in right away on December 20, 2024, so traders should be ready for a slightly higher monthly bill.