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Self-Regulatory Organizations; NYSE National, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE National Schedule of Fees and Rebates To Establish Fees for Industry Members Related to Reasonably Budgeted CAT Costs of the National Market System Plan Governing the Consolidated Audit Trail for May 1, 2026 Through December 31, 2026
Plain English Summary
The NYSE National has announced a change that affects industry members by introducing new fees related to the costs of maintaining the Consolidated Audit Trail (CAT) system for the period from May 1, 2026, to December 31, 2026. These fees will cover necessary insurance costs, including cyber security, directors' and officers' liability, and errors and omissions insurance. Agents should be aware of these changes and prepare for the financial implications when planning for the upcoming period.
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3(a)(2)(C) above.
It is anticipated that the <span class="match">insurance</span> costs for CAT during the CAT Fee 2026-1 Period will include costs related to cyber security liability <span class="match">insurance</span>, directors' and officers' liability <span class="match">insurance</span>, and errors and omissions liability <span class="match">insurance</span> brokered by USI <span class="match">Insurance</span> Services LLC (“USI”). Such policies are standard for corporate entities, and cyber security liability <span class="match">insurance</span> is important for the CAT System. CAT LLC anticipates that it will continue to maintain this <span class="match">insurance</span> during the CAT Fee 2026-1 Period, and notes that