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.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile 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!
2026-16781, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of a Proposed Rule Change To Amend Sections 303A.00 and 303A.07 of the NYSE Listed Company Manual
The New York Stock Exchange (NYSE) is giving listed companies more time to set up their internal audit teams, which help keep an eye on risks and controls. This change affects all companies listed on the NYSE and aims to make the transition smoother without rushing. No new costs or deadlines are added yet, but companies should prepare for the updated timeline once it’s official.
2026-16784, Self-Regulatory Organizations; The Depository Trust Company; Order Approving Proposed Rule Change To Amend the Redemptions Service Guide and the Operational Arrangements (Necessary for Securities To Become and Remain Eligible for DTC Services)
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.