Cboe C2 Exchange Implements 2026 CAT Cost Charges
Published Date: 5/12/2026
Notice
Summary
Starting May 1, 2026, Cboe C2 Exchange is setting new fees for industry members to cover their share of the Consolidated Audit Trail (CAT) costs through the end of the year. This means brokers and traders who are part of national exchanges will see updated fees to help fund the system that tracks trading activity. The changes kick in immediately and keep the CAT running smoothly and fairly.
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
CAT Fee 2026-1 Set Per-Share Rate
Beginning May 1, 2026 and through December 31, 2026, Cboe C2 will assess CAT Fee 2026-1 on CAT Executing Brokers. The Operating Committee calculated a Fee Rate of $0.000003799483243631228 per executed equivalent share and then divided and rounded that to a fee of $0.000001 per executed equivalent share to be charged to CEBBs and CEBSs.
Total Budget and Allocation to Brokers
The Budgeted CAT Costs for May 1, 2026 through December 31, 2026 are $15,149,648. CEBBs collectively are responsible for one-third of that amount ($5,049,882.67) and CEBSs collectively are responsible for one-third of that amount ($5,049,882.67); Participants are responsible for the remaining one-third.
Fees Charged to CAT Executing Brokers; Pass-Through Possible
CAT Fee 2026-1 will be charged to each CAT Executing Broker (Industry Member identified as the executing broker on buy and sell sides in exchange or TRF/ORF/ADF reporting). CEBBs and CEBSs may, but are not required to, pass these CAT Fees through to their clients, and those clients may in turn pass fees to subsequent clients until ultimately imposed on the account that executed the transaction.
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Key Dates
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Previous / Next Documents
Previous: 2026-09353 — Self-Regulatory Organizations; Cboe BYX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a 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 the Period From May 1, 2026 Through December 31, 2026
Starting May 1, 2026, Cboe BYX Exchange is setting new fees for industry members to cover their share of the costs for the Consolidated Audit Trail (CAT) system through the end of the year. This means brokers and traders who are part of national exchanges will see updated fees to help fund this important market tracking tool. The changes kick in immediately and keep the CAT system running smoothly and fairly.
Next: 2026-09355 — Self-Regulatory Organizations; Cboe Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a 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 the Period From May 1, 2026 Through December 31, 2026
Starting May 1, 2026, Cboe Exchange is setting new fees for industry members to cover their share of the costs for the Consolidated Audit Trail (CAT) system through the end of the year. This means brokers and traders who are part of national exchanges will see updated fees to help fund this important market tracking tool. The changes take effect immediately and keep the CAT system running smoothly and fairly.