Cboe EDGX Recoups Past Audit Trail Costs via Fees
Published Date: 5/14/2026
Notice
Summary
Cboe EDGX Exchange is updating its fee schedule to charge Industry Members for some past costs related to the Consolidated Audit Trail that weren’t billed before January 1, 2022. This change means certain members will see new fees starting right away to cover these historical expenses. If you’re part of the trading world, get ready to spot these updates on your bills soon!
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Participants’ One-Third Paid by Loan Cancellation
The Participants will not be invoiced for a Historical CAT Assessment for their share; instead, Participants' one‑third share of Historical CAT Costs (which is $106,019,939.67) will be satisfied by cancellation of loans made by the Participants to the Company on a pro rata basis. Participants also remain responsible for certain Excluded Costs described in the filing.
New Historical CAT Fee for Industry Members
If you are an Industry Member (a member of a national securities exchange or national securities association), the Exchange will charge a Historical CAT Assessment (1A) to recover $38,964,855.34 of past Consolidated Audit Trail (CAT) costs incurred prior to January 1, 2022. The Operating Committee set the Historical Fee Rate at $0.000002 and the fee for each transaction will be calculated by multiplying the number of executed equivalent shares by one‑third and by $0.000002; CEBBs and CEBSs are each allocated $19,482,427.67 of the total.
Potential Pass-Through of CAT Fees to Customers
The Commission recognized that Industry Members may pass through CAT fees for customer‑executed volume, so brokers and executing firms could include these Historical CAT Assessment charges on bills for customer trades. If passed through, the charges would reflect the Historical CAT Assessment calculation (executed equivalent shares × one‑third × $0.000002) on applicable transactions.
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
2026-07651 — 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!
2026-10241 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the DTC Operational Arrangements (Necessary for Securities to Become and Remain Eligible for DTC Services)
The Depository Trust Company (DTC) is updating its rules to make it easier and clearer for agents handling corporate offers like tenders and subscriptions through its automated systems. This change affects companies and agents using DTC services to process these offers and starts right away with no extra costs. It’s all about smoother, faster, and more reliable processing for everyone involved!
2026-10244 — Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Fee Schedule Applicable to Members Concerning Equities Transaction Pricing
Investors Exchange (IEX) is updating its fee schedule starting June 1, 2026. Members who trade stocks will see changes in how they qualify for rebates and fee discounts based on their trading volume. These tweaks aim to make fees fairer and encourage more trading activity on the exchange.
2026-10245 — Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 3120 To Increase the Position and Exercise Limits for Options on the iShares Bitcoin Trust ETF
BOX Exchange is raising the limits on how many options traders can hold and exercise for the iShares Bitcoin Trust ETF. This change lets bigger players trade more freely and takes effect immediately, matching similar moves by other exchanges. If you trade these options, get ready for bigger opportunities starting now!
2026-10129 — The Goldman Sachs Group, Inc.
Goldman Sachs is asking the SEC for special permission to create investment funds just for its employees, letting them skip some usual rules. This change mainly affects Goldman Sachs workers and could speed up how these funds work without changing important protections. If no one objects by June 12, 2026, the SEC will approve this request.
2026-10168 — Agency Information Collection Activities; Submission for OMB Review; Comment Request; Extension: Rule 17a-2
The SEC is asking to keep the rules that require underwriters to keep records about certain stock market activities for three years. About 647 companies spend around 3,235 hours and $530,000 yearly to follow these rules. This extension keeps things running smoothly without adding new costs or changes.
Previous / Next Documents
Previous: 2026-09593 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule Entitled “Consolidated Audit Trail Funding Fees”
Cboe EDGA Exchange is updating its fee schedule to charge Industry Members for some past costs related to the Consolidated Audit Trail that weren’t billed before January 1, 2022. This change means certain members will see new fees starting right away to cover these historical expenses. If you’re part of the trading world, keep an eye on your bills—they might look a little different soon!
Next: 2026-09595 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fee Schedule Entitled “Consolidated Audit Trail Funding Fees”
Cboe BZX Exchange is updating its fee schedule to charge Industry Members for some past costs related to the Consolidated Audit Trail that weren’t billed before January 1, 2022. This means members of national securities exchanges will see new fees to cover these historical expenses, effective immediately. If you’re part of the trading world, get ready to spot these changes on your bills soon!