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MIAX PEARL, LLC has proposed a rule change to amend its fee schedule for equity securities trading to introduce new fees for Industry Members. These fees, referred to as CAT Fee 2025-1, are intended to cover part of the costs associated with the National Market System Plan for the Consolidated Audit Trail. Starting at a rate of $0.000022 per executed equivalent share, these fees will replace an earlier fee, CAT Fee 2024-1, which had a higher rate of $0.000035. The Securities and Exchange Commission is inviting public comments on this proposed rule change.

MIAX PEARL, LLC has submitted a proposal to the Securities and Exchange Commission to change its fee schedule for trading equity securities on its exchange platform. The proposed changes aim to introduce several fees, including connectivity fees, port fees, technical support request fees, and historical market data fees. The exchange argues that these fees are necessary to recover some of the costs associated with providing and maintaining their trading infrastructure and to ensure fair and equitable access for all users. The SEC is seeking comments on this proposal from interested parties to ensure compliance with relevant regulatory standards.

The Securities and Exchange Commission announced that MIAX PEARL, LLC submitted a new rule change on February 13, 2025. This change involves adjustments to the fee schedule for their equities trading platform, MIAX Pearl Equities. The modifications include new fees and rebates for trades during early and late trading sessions, altering some rebate programs, and revising fees for trades routed to other exchanges. The SEC is inviting the public to comment on this proposal by March 18, 2025.

The Long-Term Stock Exchange, Inc. (LTSE) filed a proposal with the Securities and Exchange Commission (SEC) to implement new connectivity fees for market participants. Previously, LTSE did not charge for connectivity, but due to the costs incurred from launching a new trading system, it plans to start charging fees effective October 1, 2024. These fees include charges for physical connections and logical connectivity sessions, with certain discounts for Disaster Recovery and Test Environment connections. LTSE believes the fees are fair, non-discriminatory, and generally lower than those charged by other exchanges, aiming to cover a portion of their operational costs while encouraging efficient use of connectivity resources.