Federal Register #SR-MIAX-2026-17

SEC Solicitation: CAT System Funding Fees and Associated Services for 2026

This opportunity concerns the Securities and Exchange Commission's (SEC) notice of a proposed rule change to establish new fees for industry members to fund the Consolidated Audit Trail (CAT) system for the period May through December 2026. - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - Amazon Web Services, Inc. (AWS): Cloud hosting services for CAT - FINRA CAT, LLC (FCAT): Plan Processor for CAT operations and maintenance - Algoseek, LLC: Market data provision - WilmerHale and Jenner: Legal services - Deloitte: Consulting services - Anchin and Grant Thornton: Professional and administration services - Products/Services Requested: - Cloud hosting and infrastructure for the CAT system (AWS) - Operation, maintenance, and compliance support for CAT (FINRA CAT, LLC) - Market data feeds and analytics (Algoseek, LLC) - Legal support for compliance, governance, and litigation (WilmerHale, Jenner) - Consulting for budget analysis and cost management (Deloitte) - Accounting and administrative support (Anchin, Grant Thornton) - CAT Fee 20261: $0.000001 per executed equivalent share, invoiced monthly to industry members - Notable Requirements: - Fee structure is designed to recover approximately two-thirds of CAT costs for 2026 - Fees cover technology, legal, consulting, insurance, and administration costs - Applies to all industry members under the National Market System Plan - Monthly invoicing begins June 2026 and continues until a new fee is established

Description

This notice pertains to a proposed rule change filed by Miami International Securities Exchange, LLC to amend its fee schedule. The amendment establishes 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. The fees are intended to recover approximately two-thirds of the CAT costs for 2026 and will be payable to Consolidated Audit Trail, LLC. The fee rate is set at $0.000001 per executed equivalent share, with invoices beginning in June 2026 based on May 2026 transactions.

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