2025-00293NoticeWallet

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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Key Dates

Published Date
1/10/2025

Department and Agencies

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