The Securities and Exchange Commission announced a new rule proposed by the New York Stock Exchange to set fees for industry members in 2025. These fees, called CAT Fee 2025-1, will support the costs of the National Market System Plan for the Consolidated Audit Trail, with a fee rate of $0.000022 per executed equivalent share. These charges will be applied to brokers as soon as February 2025 and are meant to cover half of the budgeted costs for the year. The public is encouraged to submit their comments on this proposed rule change by January 31, 2025, through the Commission's website or by mail.
Simple Explanation
The New York Stock Exchange wants to charge a small fee for each stock trade starting in 2025 to help pay for a big project that tracks trading, but people are asking questions about how they chose the fee amount and what happens if the costs change. They also want others to share their thoughts by the end of January.