The Securities and Exchange Commission has announced that MIAX Sapphire, LLC has proposed a rule change related to fees for Industry Members connected to the National Market System Plan governing the Consolidated Audit Trail (CAT) for 2025. This change involves a fee called CAT Fee 2025-1, set at $0.000022 per executed equivalent share. These fees, aimed at covering part of the CAT costs for 2025, will replace the previous CAT Fee 2024-1. Interested individuals can submit comments on the proposal by February 6, 2025.
Simple Explanation
The Securities and Exchange Commission shared that a company called MIAX Sapphire wants to change how they charge other companies a small fee to help keep track of all the trades happening in the stock market in 2025. They plan to charge less than before, but people can give their opinions about this change until February 6, 2025.