Federal Register #SR-TXSE-2026-011

Texas Stock Exchange LLC Initial Fee Schedule and Membership Fee Proposal

This opportunity concerns the Securities and Exchange Commission (SEC) overseeing a proposed rule change by Texas Stock Exchange LLC (TXSE) for its initial fee schedule and membership structure. - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEM/Vendor: - Texas Stock Exchange LLC (TXSE) - Products/Services Requested: - Monthly membership fee of $200 for each active exchange member - Fee of $0.0030 per share for removing displayed liquidity from the TXSE Book (for securities priced at or above $1.00 per share), or 0.15% of total dollar value for securities under $1.00 - Rebate of $0.0031 per share for adding displayed liquidity (for securities priced at or above $1.00 per share), or 0.15% of total dollar value for securities under $1.00 - Fee of $0.0002 per share for adding or removing non-displayed liquidity (for securities priced at or above $1.00 per share), or 0.05% of total dollar value for securities under $1.00 - Unique/Notable Requirements: - Fee schedule is designed to incentivize liquidity provision and price discovery in a competitive equities market - No physical products are being procured; this is a service fee structure for exchange operations - No part numbers or specific purchase quantities are provided, as the fees are usage-based and apply to exchange transactions

Description

The Texas Stock Exchange LLC has filed a proposed rule change with the Securities and Exchange Commission to adopt an initial schedule of fees and rebates applicable to its members. The proposal includes a monthly membership fee of $200 to be assessed starting January 1, 2027. The fee schedule includes fees for removing displayed liquidity, rebates for adding displayed liquidity, and fees for adding or removing non-displayed liquidity, with specific rates based on the price of securities. The rule change is effective immediately upon filing and aims to fund regulatory costs and promote fair and equitable trading practices.

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