Texas Stock Exchange adds CAT fee for industry members effective immediately
Industry members that act as CAT Executing Brokers must pay CAT Fee 2026-1 for transactions in eligible securities from May 1 2026 through December 31 2026.
On September 16, 2026, Texas Stock Exchange LLC filed a proposed rule change (File No. SR-TXSE-2026-033) to amend its fee schedule. The filing is effective immediately under Section 19(b) of the Securities Exchange Act of 1934, and the Commission is soliciting comments as noted in the September 24, 2026 notice.
The amendment establishes CAT Fee 2026-1 to recover reasonably budgeted costs of the Consolidated Audit Trail (CAT) for the period from May 1, 2026 through December 31, 2026. The fee is authorized by the CAT Funding Model approved by the Commission on March 16, 2026, which provides a framework for allocating CAT costs among Participants and Industry Members.
CAT Fee 2026-1 will be assessed to each CAT Executing Broker - defined as a CEBB or CEBS responsible for the buy-side or sell-side of a transaction in an Eligible Security. For each applicable transaction, the fee equals the number of executed equivalent shares multiplied by one-third and by the applicable Fee Rate, covering two-thirds of the budgeted CAT costs for the period.
The filing does not address Historical CAT Assessment fees or participant fees; those matters remain subject to separate filings. Only Industry Members that are CAT Executing Brokers are required to pay the new fee.
Comments must be submitted in accordance with the procedures outlined in the notice. The text of the proposed rule change is available on the SEC's website, the Exchange's website, and at the Exchange's principal office.
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