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Self-Regulatory Organizations; NYSE Texas, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Fee Schedule of NYSE Texas, Inc. To Establish Fees for Industry Members Related to Certain Historical Costs of the National Market System Plan Governing the Consolidated Audit Trail
Plain English Summary
NYSE Texas, Inc. has updated its fee schedule to include new fees for industry members related to historical costs associated with the Consolidated Audit Trail (CAT). This change affects insurance costs that totaled $880,419 for the CAT during a specific evaluation period. Starting in 2020, CAT LLC explored different insurance options and decided to purchase cyber security liability insurance based on their analysis of coverage and costs. Insurance agents should be aware of these new fees and consider how they may impact their clients involved with the CAT.
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(VIII) <span class="match">Insurance</span>
The <span class="match">insurance</span> costs of $880,419 represent the cost incurred for <span class="match">insurance</span> for CAT during the Pre-FAM Period. Commencing in 2020, CAT LLC performed an evaluation of various potential alternatives for CAT <span class="match">insurance</span> policies, which included engaging in discussions with different <span class="match">insurance</span> companies and conducting cost comparisons of various alternative approaches to <span class="match">insurance</span>. Based on an analysis of a variety of factors, including coverage and premiums, CAT LLC determined to purchase cyber security liability <span class="match">insurance</span>, directors'