NYSE American CAT Funding Fee for May–December 2026
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
NYSE American will add a new Consolidated Audit Trail funding fee to its equities price list and options fee schedule for trades from May 1 through December 31, 2026. The fee is $0.000001 per executed equivalent share and will be billed monthly starting in June 2026 based on May 2026 trading activity. The change affects broker-dealers identified as CAT executing brokers on the buy or sell side of eligible securities trades. Firms should expect the fee to appear on CAT-related invoices and may need to update trading cost models, billing controls, and client pass-through calculations.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Creates a CAT Fee 2026-1 of $0.000001 per executed equivalent share
- Applies the fee to CAT executing brokers on eligible securities trades from May 1 through December 31, 2026
- Starts monthly invoicing in June 2026 based on May 2026 trading activity
Obligations
What this law requires
CAT Executing Brokers identified as buyers (CEBBs) or sellers (CEBSs) in CAT Data must pay CAT Fee 2026-1 for each applicable transaction in Eligible Securities executed during the prior month.
CAT Executing Brokers must calculate the Industry Member CAT Fee using $0.000001 per executed equivalent share for transactions subject to CAT Fee 2026-1.
For each month CAT Fee 2026-1 is in effect, each CEBB and CEBS must pay the fee based on prior-month transactions in Eligible Securities as recorded in CAT Data.
CAT Executing Brokers must treat each executed share of NMS Stock as one executed equivalent share, each Listed Options contract according to its applicable multiplier, and each OTC Equity Security share as 0.01 executed equivalent share when determining fee exposure.
Industry Members identified in exchange CAT Data as responsible for the buy-side or sell-side order, or in FINRA TRF/ORF/ADF data as executing or contra-side executing broker, are treated as CAT Executing Brokers subject to the fee.