Federal Register #SR-LTSE-2026-08

SEC Notice: LTSE Proposed Fee Schedule Change for Sub-Dollar Securities

This notice details a proposed rule change by the Long-Term Stock Exchange, Inc. (LTSE) submitted to the Securities and Exchange Commission (SEC): - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors Mentioned: - Long-Term Stock Exchange, Inc. (LTSE) - Products/Services Requested: - No physical products or hardware are requested - Service: Proposed amendment to the LTSE Fee Schedule for securities priced below $1.00 - Elimination of the taker fee for removing liquidity in sub-dollar securities (from 0.20% to 0.00% of total dollar value) - Implementation of a Sub-Dollar Incentive Program (SDIP) - Related: FINRA's phased implementation of new intraday margin requirements (18-month phase-in) - Unique or Notable Requirements: - The fee schedule change is intended to incentivize greater trading activity and liquidity in sub-dollar securities - The SEC is soliciting public comments on the proposed rule change - No specific part numbers, quantities, or hardware/software deliverables are involved - Place of Performance/Delivery: - SEC offices in Washington, DC - No other federal facilities or delivery locations specified

Description

The Long-Term Stock Exchange, Inc. (LTSE) filed a proposed rule change with the Securities and Exchange Commission to amend its fee schedule by reducing transaction fees for securities priced below $1.00. Specifically, LTSE proposes to eliminate the taker fee for removing liquidity in these securities, reducing it from 0.20% to 0.00% of total dollar value. This change aims to incentivize greater interaction and liquidity in lower-priced securities, improve price discovery, and enhance overall market quality by encouraging both liquidity provision and interaction. The proposal is effective upon filing and open for public comment until May 8, 2026.

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