Search Results for keywords:"optional service"

Found 2 results

Search Results: keywords:"optional service"

View All
Oldest Newest
  • 2020-29022 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Add a Fee for the New ClaimConnectTM Service
    💰
    Type:Notice
    Citation:86 FR 162
    Reading Time:about 10 minutes

    The Securities and Exchange Commission announced that The Depository Trust Company (DTC) has proposed a rule change to introduce a new fee for its optional service called ClaimConnect. This service allows participants to match and settle cash claim transactions, like payment requests due to trading discrepancies, using a new system. The fee will charge $1.75 per side for matched claims, totaling $3.50 per transaction, to help cover DTC's costs for developing and operating the service. The new fees will be implemented starting January 1, 2021, and participants have the option to continue settling claims through their existing methods if they choose not to use ClaimConnect.

    Simple Explanation

    The Securities and Exchange Commission said there's a new way for people to fix money mix-ups called ClaimConnect, and it costs $3.50 per time to use. If someone doesn't want to pay, they can keep doing things the old way instead.

  • 2024-29925 — Self-Regulatory Organizations; MIAX Sapphire, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Sapphire Fee Schedule To Adopt Fees for Dedicated Cross Connection Access to the Testing Systems Environment
    💰
    Type:Notice
    Citation:89 FR 103025
    Reading Time:about 25 minutes

    MIAX Sapphire, LLC has filed a proposal with the Securities and Exchange Commission (SEC) to amend its fee schedule for accessing the MIAX Sapphire Options Exchange's testing systems environment via a dedicated cross connection. This proposal includes a monthly fee of $1,000 for both 1Gb and 10Gb connections, which is voluntary for market participants, who can also choose to access it for free through a virtual private network (VPN). The aim is to provide a reliable environment for testing software and other system functionalities before live trading, with the proposal effective from December 1, 2024. The change is designed to be fair and consistent with industry standards, taking into account competition as 18 U.S. options exchanges compete for market share.

    Simple Explanation

    MIAX Sapphire wants to charge $1,000 a month to connect to a special testing area for their trading platform, but people can still use a slower free connection if they want. They need to make sure this price is fair since other exchanges have similar fees, and they promise it's optional.