MEMX Seeks SEC Relief From Fee Caps Worth $2 Billion in Investor Savings
Updated
Updated · Better Markets · May 19
MEMX Seeks SEC Relief From Fee Caps Worth $2 Billion in Investor Savings
1 articles · Updated · Better Markets · May 19
Summary
MEMX asked the SEC to exempt all national stock exchanges from newly reduced access fee caps, and the agency has opened the request for public comment.
The exchange says the relief should last for an unspecified period while the SEC considers possible market-structure changes, including potential revisions to Rule 611 of Regulation NMS.
The reduced caps were adopted in 2024, unanimously approved by the SEC, and later upheld by a federal appeals court after exchanges challenged them.
SEC estimates said the lower caps would have cut investor access-fee costs by about $2 billion based on 2023 trading, while also improving price transparency.
Because the caps have not yet taken effect after litigation and implementation delays, granting relief now would effectively undo a completed rulemaking before the SEC has tested it in practice.