NYSE Chicago, Inc. has submitted a proposed rule change to the Securities and Exchange Commission (SEC) to update its fee schedule. The change will establish a fee called CAT Fee 2025-1, which industry members must pay for 2025. This fee will be used to cover some costs of the Consolidated Audit Trail system, with the rate set at $0.000022 per executed equivalent share. The new fee structure, intended to be effective for six months starting in January 2025, replaces a previous fee and aims to cover half of the planned 2025 audit trail expenses.
Simple Explanation
NYSE Chicago wants to change a fee that businesses pay for using a special system to track trading. They are lowering the fee to help cover some costs for this system, but it's not very clear why they're lowering it or how it helps everyone involved.