Federal Register #SR-BOX-2026-12

SEC Considers Fee Rule for Historical CAT System Costs Involving AWS, Kingland, Thesys, and Exegy

This opportunity concerns a proposed rule change by BOX Exchange LLC to establish fees for industry members to recover historical costs related to the Consolidated Audit Trail (CAT) system. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors: - Amazon Web Services, Inc. (AWS): Cloud hosting services for CAT - Kingland Systems Incorporation: CAIS operating services - Thesys Technologies, LLC: Initial CAT system development - Exegy: Market data services - FCAT (FINRA CAT): Current Plan Processor for CAT - Products/Services Requested: - Cloud hosting for high-volume, secure, and resilient data processing (AWS) - Development and operation of the Customer and Account Information System (CAIS) (Kingland Systems) - Application development and operational services for CAT (Thesys Technologies, FCAT) - Market data provision for CAT operations (Exegy) - Notable Requirements: - Fee rate set at $0.000002 per executed equivalent share, payable to CAT LLC - Fees cover historical costs incurred prior to January 1, 2022, not previously invoiced - Costs include technology, cloud hosting, CAIS operations, and market data - Rule change is effective immediately and supports ongoing CAT funding

Description

This notice concerns a proposed rule change filed by BOX Exchange LLC to establish fees for industry members related to certain historical costs of the National Market System Plan governing the Consolidated Audit Trail (CAT). The fees aim to recover remaining historical CAT costs incurred prior to January 1, 2022, which were not previously invoiced. The proposed fee rate is $0.000002 per executed equivalent share, payable to Consolidated Audit Trail, LLC. The rule change is effective immediately upon filing with the Securities and Exchange Commission.

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