Federal Register #SR-CboeBYX-2026-017

SEC Notice: Cboe BYX Exchange Proposes Historical Cost Recovery Fees for CAT System

This notice details a proposed rule change by Cboe BYX Exchange, Inc. regarding the recovery of historical costs for the Consolidated Audit Trail (CAT) system: - Government Buyer: - Securities and Exchange Commission (SEC) - Key OEMs and Vendors: - Amazon Web Services, Inc. (cloud hosting for CAT) - Kingland Systems Corporation (Customer and Account Information System services) - Exegy (market data provision) - FINRA CAT, LLC (Plan Processor) - Thesys Technologies, LLC (former Plan Processor) - Products/Services Requested: - No physical products or new services are being procured - The notice establishes a new fee (Historical CAT Assessment 1A) for Industry Members (CAT Executing Brokers) to recover $38,964,855.34 in historical CAT costs - Fee rate: $0.000002 per executed equivalent share, billed monthly until full recovery - Notable Requirements: - Fees are to recover costs incurred prior to January 1, 2022, that were not previously invoiced - Assessment will remain in effect until the full amount is collected, with a maximum billing period ending March 31, 2028 - The CAT system relies on major technology and data vendors for its operation

Description

The Securities and Exchange Commission has issued a notice regarding a proposed rule change by Cboe BYX Exchange, Inc. to amend its fee schedule titled “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, effective date, and links to the full text in various formats.

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