Federal Register #SR-CboeBZX-2026-037

SEC Notice: Cboe BZX Exchange Rule Change for CAT Historical Cost Recovery Fees

This opportunity concerns the SEC's notice of a proposed rule change by Cboe BZX Exchange, Inc. to amend the Consolidated Audit Trail (CAT) Funding Fees, specifically to recover historical costs for the CAT NMS Plan. - Government Buyer: - Securities and Exchange Commission (SEC) - Key OEMs and Vendors: - Amazon Web Services, Inc. (AWS): Cloud hosting services for CAT - Kingland Systems Corporation: Customer and Account Information System (CAIS) development and operation - Thesys Technologies, LLC: Initial Plan Processor for CAT - Exegy: Market data services - Financial Industry Regulatory Authority (FINRA) and subsidiary FCAT: Successor Plan Processor - Products/Services Requested: - No physical products or part numbers; this is a regulatory fee assessment - Service: Consolidated Audit Trail Funding Fees – Historical CAT Assessment 1A - Purpose: Recover $38,964,855.34 in historical CAT costs not previously invoiced - Fee calculated at $0.000002 per executed equivalent share, invoiced monthly to industry members (CAT Executing Brokers) - Supports CAT system development, implementation, operation, cloud hosting, legal, consulting, and related costs - Unique/Notable Requirements: - Use of AWS for secure, resilient cloud infrastructure - Kingland for CAIS operations - Exegy for market data integration - Oversight and compliance with the CAT NMS Plan under SEC authority - Fee recovery is limited to historical costs incurred prior to January 1, 2022, and not previously billed - Assessment will remain in effect until the full amount is collected, with a prohibition on billing after a set deadline

Description

The Securities and Exchange Commission has issued a notice regarding a proposed rule change by Cboe BZX Exchange, Inc. to amend its fee schedule related to the Consolidated Audit Trail Funding Fees. The amendment establishes 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 that were not previously invoiced. The notice includes details about the filing, the agency involved, and links to the full text and related documents. This is a notice of filing and immediate effectiveness of the proposed rule change.

View original listing