Federal Register #SR-IEX-2026-12

SEC Proposed Rule: Fees for Historical CAT System Costs (AWS, Kingland, Thesys, Exegy)

This opportunity concerns the SEC's notice of a proposed rule change by Investors Exchange LLC to establish fees for industry members to recover historical costs of the Consolidated Audit Trail (CAT) system incurred before 2022. - Government Buyer: - Securities and Exchange Commission (SEC) - Investors Exchange LLC (IEX) as the proposing SRO - OEMs and Vendors: - Amazon Web Services, Inc. (AWS): Cloud hosting services - Kingland Systems Incorporation: Development and operation of the Customer and Account Information System (CAIS) - Thesys Technologies, LLC: Initial Plan Processor for CAT - Exegy Incorporated: Market data provision - CAT LLC: Entity receiving the fees - Products/Services Requested: - Cloud hosting for CAT (AWS) - CAIS development and operation (Kingland Systems) - CAT system management and operation (Thesys Technologies, FCAT/FINRA subsidiary) - Market data provision (Exegy) - Notable Requirements: - Fees are to recover $38,964,855.34 in historical CAT costs not previously invoiced - Fee rate is $0.000002 per executed equivalent share (Historical CAT Assessment 1A) - Services must meet high standards for security, resiliency, and data management - Cost negotiations and market rates were considered in vendor selection - No specific hardware or product part numbers; focus is on regulatory technology services - Period of Performance: - Invoices for the new assessment begin June 2026, covering costs incurred prior to January 1, 2022 - Place of Performance: - Securities and Exchange Commission (federal office)

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by Investors Exchange LLC to establish fees for industry members related to certain historical costs of the National Market System Plan governing the Consolidated Audit Trail incurred prior to January 1, 2022. The proposed rule change aims to collect remaining historical costs not previously invoiced, with fees payable to Consolidated Audit Trail, LLC. The fee rate will be $0.000002 per executed equivalent share, with the first invoices expected in June 2026 based on May 2026 transactions. This notice is published in the Federal Register and is related to the filing and immediate effectiveness of the proposed rule change.

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