SEC Considers Pausing New Stock Trading Fee Rules for MEMX
Published Date: 3/25/2026
Notice
Summary
MEMX LLC asked the SEC to pause some new rules about stock price steps and fees that started in 2024. This pause would affect all trading centers and lets them charge a slightly higher fee for certain stocks priced under $1 or with specific price increments. The SEC wants your thoughts before deciding, so this could impact how much trading costs and when changes happen.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Delay of Fee-Cap Changes for Certain Stocks
MEMX asked the SEC to temporarily delay implementing the amended Rule 610(c) for (a) protected quotations and best bids/offers in NMS stocks that would continue to use a $0.01 minimum pricing increment under Rule 612(b)(2)(i), and (b) protected quotations and best bids/offers in NMS stocks priced below $1.00 per share. The amendments to Rule 610(c) that could be delayed include the access-fee caps the Commission adopted in September 2024 (for example, $0.001 per share for quotations priced $1.00 or more and 0.1% of quotation price for quotations priced under $1.00).
Request to Allow Higher Access Fee ($0.0015)
MEMX asked the SEC to allow exchanges to charge an access fee of up to $0.0015 per share by modifying the $0.0010 amended access-fee cap for NMS stocks that would be subject to a $0.005 minimum pricing increment under Rule 612(b)(2)(ii). The application also notes that, if relief is granted, protected quotations in such $0.005-increment stocks could face different caps by price (e.g., $0.001 or $0.0015 per share for quotations $1.00 or more and 0.3% of the quotation price for quotations below $1.00).
Implementation of $0.005 Tick to Reduce Spreads
MEMX says the minimum pricing increment changes in Rule 612 would set a $0.005 minimum pricing increment for bids, offers, orders and indications of interest priced at $1.00 or more per share (Rule 612(b)(2)(ii)), and that implementing this $0.005 increment would reduce bid-ask spreads and improve investor trading outcomes. MEMX asks that the $0.005 minimum pricing increment be able to be implemented in November 2026 without further delay while other Rule 610(c) access-fee issues are deliberated.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163 — The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373 — Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222 — Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651 — Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-13648 — Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Except Accounts Pursuant to Section 530A of the Internal Revenue Code From the Requirements of FINRA Rule 3210 (Accounts At Other Broker-Dealers and Financial Institutions)
FINRA is updating its rules to exclude certain accounts protected under a new tax law (Section 530A) from extra paperwork and approval steps. This change helps financial pros handle these special accounts more easily, starting right away with no extra costs. If you work with broker-dealers or financial institutions, this means smoother account management from now on!
2026-13713 — Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Partial Amendment No. 1 to Proposed Rule Change To Amend FINRA Rule 2210 (Communications With the Public)
FINRA wants to update its rules to let financial firms share predictions about investment returns when talking to the public, but only if they follow certain safety steps. This change affects anyone in the finance world who communicates about investments and aims to make info clearer and more honest. The SEC is reviewing these updates, with decisions and possible money impacts expected soon.
Previous / Next Documents
Previous: 2026-05765 — Michael W. Williams-Control Exemption-McCloud Railway Company; Ozark Valley Railroad, Inc.; and Washington & Idaho Railway, Inc.
Michael W. Williams asked for official permission to control three small railroads: McCloud Railway, Ozark Valley Railroad, and Washington & Idaho Railway. The Surface Transportation Board reviewed his request and said yes, giving him the green light after some earlier back-and-forth. This means Williams can now legally manage these railroads, with no new fees or delays announced.
Next: 2026-05769 — Information Collection: NRC Form 754, Armed Security Personnel Firearms Background Check
The Nuclear Regulatory Commission is renewing its form for checking the backgrounds of armed security personnel who carry firearms. This update affects security staff at nuclear sites and keeps safety checks running smoothly without extra costs or delays. If you have thoughts, send them by April 24, 2026, to help shape the process!