The Securities and Exchange Commission (SEC) announced that the BOX Exchange LLC has filed a proposal to amend its Fee Schedule for the upcoming year, 2025. The proposed changes involve establishing a new fee system called CAT Fee 2025-1, which sets the fee at $0.000022 per executed equivalent share. This fee helps cover the costs associated with the Consolidated Audit Trail (CAT), a system that tracks trading activity in the national market. The CAT Fee 2025-1 is intended to replace the previous CAT Fee 2024-1, which had a higher rate, and will be in effect for six months to cover half of the budgeted CAT costs. Interested parties are invited to submit comments on these changes by January 29, 2025.
Simple Explanation
The SEC says that a group called BOX Exchange wants to change how much it charges to keep track of people's trades, making it cheaper than last year. They want everyone's thoughts on this new plan by the end of January 2025.