Federal Register #SR-MEMX-2026-11

SEC Notice: MEMX LLC Proposed Rule Change for CAT Historical Cost Recovery Fees

This SEC notice concerns MEMX LLC's proposed rule change to establish fees for industry members to recover historical costs related to the Consolidated Audit Trail (CAT) under the CAT NMS Plan. - Government Buyer: - Securities and Exchange Commission (SEC) - MEMX LLC (self-regulatory organization) - OEMs and Vendors: - Amazon Web Services, Inc. (AWS) - Kingland Systems Corporation - Exegy Incorporated - Thesys Technologies, LLC - FINRA CAT, LLC (FCAT) - Products/Services Requested: - Cloud hosting services for CAT (AWS) - CAIS development and operation (Kingland) - Market data provision (Exegy) - Plan Processor services (Thesys Technologies, LLC and FINRA CAT, LLC) - Notable Requirements: - Fees to recover $38,964,855.34 in historical CAT costs - Fee rate set at $0.000002 per executed equivalent share - Use of AWS for secure, resilient cloud hosting - Kingland for CAIS operations - Exegy for market data - All vendor contracts negotiated at arms-length for compliance with SEC Rule 613 and CAT NMS Plan - Monthly invoicing, with first invoices for new assessment expected in June 2026 - Place of Performance: - SEC federal office as contracting authority

Description

The Securities and Exchange Commission (SEC) published a notice regarding a proposed rule change by MEMX LLC to establish fees for industry members related to certain historical costs of the National Market System Plan concerning the Consolidated Audit Trail (CAT). The proposal aims to collect remaining historical CAT costs that were not previously invoiced. The fees would be payable to Consolidated Audit Trail, LLC and are described in a section of the exchange's fee schedule. The fee rate for the new assessment will be $0.000002 per executed equivalent share, with the first invoices expected in June 2026 based on May 2026 transactions.

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