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The Miami International Securities Exchange, LLC has proposed a new rule change regarding fees for its Industry Members as part of the CAT NMS Plan, which helps oversee trading activities. These fees, named CAT Fee 2025-1, will be charged at a rate of $0.000022 per executed equivalent share and are intended to recover half the costs budgeted for 2025. This proposal was filed with the Securities and Exchange Commission and became effective immediately, with the first invoices expected in February 2025. The public is invited to submit comments on this proposed change by February 6, 2025.

The Investors Exchange LLC has proposed a new rule regarding the pricing of transactions for securities priced under $1.00. The proposed changes include offering a rebate of 0.15% for orders adding liquidity and raising the fee to 0.15% for orders removing liquidity. These changes are set to be effective immediately and operational by January 1, 2025. The Securities and Exchange Commission is inviting public comments on these proposed changes until January 29, 2025.

The Securities and Exchange Commission (SEC) has received a proposal from NYSE Arca, Inc. to amend certain rules to allow the listing and trading of options on specific Ethereum-based exchange-traded funds (ETFs), such as the Grayscale Ethereum Trust ETF, Grayscale Ethereum Mini Trust ETF, and Bitwise Ethereum ETF. This proposal aims to offer investors a straightforward way to gain exposure to Ethereum through the securities market without dealing directly with cryptocurrency. The SEC's notice seeks public comments and explains how these options will be managed, including details about position and exercise limits set to prevent market manipulation. The proposed rule change aims to enhance market competitiveness and transparency by providing investors with an additional, cost-effective way to invest in Ethereum-based ETFs.

Cboe EDGA Exchange, Inc. proposed a rule change to increase the monthly fee for a 10-gigabit physical port from $7,500 to $8,500. This change is intended to help maintain and improve the exchange's market technology, and it aligns with fees charged by other exchanges. The exchange also highlighted its significant investments in upgrading its systems and accommodating new data centers as a reason for the fee increase, which they believe is reasonable given the inflation and enhancements in service quality. The Securities and Exchange Commission is seeking public comments on this proposal.

The Cboe EDGX Exchange, Inc. has proposed a rule change to amend its fee schedule by introducing a new fee structure for the use of Dedicated Cores, which are CPU resources reserved for single-user order processing. Initially, users can access up to two Dedicated Cores at no extra cost, but fees apply for additional cores, with prices increasing as more cores are used. This system is designed to offer enhanced performance through reduced latency and improved throughput, but its use is entirely optional. The changes are intended to be equitable, ensuring all users have access to similar opportunities without unfair discrimination, while also managing its finite resources effectively.

The New York Stock Exchange (NYSE) submitted a proposed rule change to amend Section 907.00 of the NYSE Manual. This amendment aims to clarify the application of complimentary products and services offered to companies listed on the exchange, depending on their global market value. Companies that listed on or after January 11, 2021, will receive these services for 48 months, while those listed earlier will get them for 24 months. The change is primarily for clarification and transparency and does not impose any significant burden on competition or affect investor protection.

MIAX PEARL, LLC, a self-regulatory organization, has filed a proposed rule change with the Securities and Exchange Commission (SEC) to establish a new fee structure related to the Consolidated Audit Trail (CAT) costs for 2025. These fees will be charged to industry members and are set at a rate of $0.000022 per executed equivalent share. The new fee, called CAT Fee 2025-1, will replace the previous CAT Fee 2024-1 and is scheduled to be in effect for six months, aiming to cover half of the budgeted CAT costs for the year. The SEC is inviting public comments on this proposal until February 6, 2025.

The Securities and Exchange Commission (SEC) is considering a proposal by NYSE Arca to list and trade shares of the Bitwise 10 Crypto Index Fund. This fund aims to invest in a portfolio of digital assets like Bitcoin and Ethereum, tracking the Bitwise 10 Large Cap Crypto Index. The SEC is seeking public comments on whether the proposal is consistent with rules designed to prevent fraud and protect investors. Interested parties can submit their views electronically or by mail by March 28, 2025.

The NYSE Arca, Inc. has proposed a temporary waiver of the Options Regulatory Fee (ORF) for all transactions cleared in the Customer range at the Options Clearing Corporation from December 1, 2024, to December 31, 2024. This waiver is intended to ensure that the ORF collections do not exceed the exchange's regulatory costs, as high trading volumes have increased ORF collections beyond projections, despite a rate reduction. The ORF is set to resume at its current rate on January 1, 2025, and the exchange will monitor costs to decide if further adjustments are necessary. Additionally, the exchange aims to remove outdated fee schedule language for clarity.

In a recent notice, the Securities and Exchange Commission (SEC) announced that the Cboe BYX Exchange, Inc. proposed changes to its rules to align with a conditional exemption granted by the SEC. These changes affect how the Exchange handles allocation reporting requirements in their Consolidated Audit Trail compliance rules. The revisions include redefining an "Allocation Report" and only requiring reports when shares or contracts are allocated to client accounts. This approach aims to reduce reporting burdens on brokers while ensuring regulators have the necessary information to monitor trade allocations.