Nasdaq ISE Sets 2025 Fees for Trade Surveillance System
Published Date: 1/23/2025
Notice
Summary
Starting in 2025, Nasdaq ISE is setting new fees for Industry Members to cover the fair costs of running the Consolidated Audit Trail (CAT), a system that tracks stock trades. If you’re part of a national securities exchange or association, expect these fees to kick in soon. The change is effective immediately, so get ready to budget for this important market tracking upgrade!
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
New 2025 CAT Fees for Industry Members
Starting in 2025, Nasdaq ISE will charge Industry Members fees to cover reasonably budgeted Consolidated Audit Trail (CAT) costs for 2025. An "Industry Member" is a member of a national securities exchange or a national securities association. The rule filing was made January 2, 2025, is effective immediately, and the SEC is accepting comments through February 13, 2025.
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Previous / Next Documents
Previous: 2025-01551, Self-Regulatory Organizations; Nasdaq GEMX, LLC; 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
Nasdaq GEMX is setting new fees for industry members to cover the 2025 costs of the Consolidated Audit Trail (CAT), a system that tracks stock trades to keep markets fair and transparent. These fees kick in right away and affect anyone who’s part of a national securities exchange or association. If you’re in the trading game, get ready to budget for these updated charges starting in 2025!
Next: 2025-01553, Self-Regulatory Organizations; Nasdaq MRX, LLC; 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
Nasdaq MRX is setting new fees for industry members to cover the 2025 costs of the Consolidated Audit Trail (CAT), a system that tracks stock trades to keep markets fair. If you’re part of a national securities exchange or association, expect these fees to kick in right away. This change helps fund the CAT system’s budget and keeps everything running smoothly in 2025.