Federal Register #SR-LTSE-2026-11

SEC Considers LTSE Membership Launchpad Program with Discounted Fees for New Members

The Securities and Exchange Commission (SEC) is considering a proposed rule change from the Long-Term Stock Exchange, Inc. (LTSE) to introduce the LTSE Membership Launchpad Program. - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEM/Vendor: - Long-Term Stock Exchange, Inc. (LTSE) - Products/Services Requested: - LTSE Membership Launchpad Program - Discounted Membership Fees for new LTSE members - Discounted Logical Connectivity Fees (for order entry and market data dissemination) - Discounted Market Data Fees (including Depth of Book Feed, Top of Book Feed, Last Sale Feed) - Discounts apply for up to 12 months: 100% discount for first 6 months, 50% discount for next 6 months - Unique/Notable Requirements: - Program targets smaller, retail-oriented market participants - Eligibility restrictions: excludes affiliates and prior subscribers - No physical products or hardware are being procured; focus is on exchange membership and associated services - SEC is soliciting public comments on the proposed rule change

Description

The Securities and Exchange Commission has filed a proposed rule change by the Long-Term Stock Exchange, Inc. to amend its fee schedule to introduce the LTSE Membership Launchpad Program. This program offers discounted Membership Fees, Logical Connectivity Fees, and Market Data Fees for up to 12 months for new Members of the Exchange. The purpose is to encourage smaller, retail-oriented market participants to become Members by reducing fixed costs associated with membership. The discounts are phased over 12 months, starting with a 100% discount for the first 6 months and 50% for the next 6 months, after which regular fees apply.

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