Federal Register #SR-SAPPHIRE-2026-21

SEC Notice: MIAX Sapphire, LLC Proposed Rule Change to Establish CAT-Related Fees for Industry Members

This opportunity concerns the Securities and Exchange Commission's (SEC) notice of a proposed rule change by MIAX Sapphire, LLC to establish new fees for industry members to fund the operation of the Consolidated Audit Trail (CAT) for a defined period in 2026. - Government Buyer: - Securities and Exchange Commission (SEC) - OEMs and Vendors Involved: - Amazon Web Services, Inc. (AWS) – cloud hosting - FINRA CAT, LLC (FCAT) – Plan Processor - Algoseek, LLC – market data provider - WilmerHale and Jenner – legal services - Deloitte – consulting services - Anchin and Grant Thornton – professional and administrative services - Products/Services Requested: - Cloud hosting services for CAT (AWS) - Plan Processor services (FCAT) - Market data provision (Algoseek) - Legal services (WilmerHale, Jenner) - Consulting services (Deloitte) - Professional and administrative support (Anchin, Grant Thornton) - Notable Requirements: - Fees (CAT Fee 20261) are calculated at $0.000001 per executed equivalent share - Fees support all budgeted CAT costs, including technology, legal, consulting, insurance, and administration - Use of AWS for cloud hosting is specifically required - FCAT is designated as the Plan Processor - Algoseek is the specified market data provider - All costs and services are detailed in the updated 2026 CAT Budget - Period of Performance: - May 1, 2026 through December 31, 2026 (eight months) - Monthly invoicing from June 2026 through January 2027 - Place of Performance/Delivery: - SEC headquarters, Washington, DC

Description

The Securities and Exchange Commission published a notice regarding a proposed rule change by MIAX Sapphire, LLC. The rule change amends the MIAX Sapphire fee schedule to establish fees for industry members related to reasonably budgeted costs of the Consolidated Audit Trail (CAT) for the period from May 1, 2026, through December 31, 2026. These fees are payable to Consolidated Audit Trail, LLC and are described in a section of the fee schedule entitled Consolidated Audit Trail Funding Fees. The filing is both a notice of filing and immediate effectiveness.

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