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Consolidated Audit Trail (CAT) Fee

Written by Mostafa Gamal

What is this fee?

The CAT fee is applied by the Financial Industry Regulatory Authority (FINRA) under the Consolidated Audit Trail (CAT) system — a U.S. regulatory program that tracks all stock trades to help protect investors and ensure market transparency.

This fee has been in effect since April 1, 2025, and is implemented to cover the costs of maintaining the CAT system. It applies to each U.S. equity trade executed through our platform. In compliance with regulations, this charge is passed on to customers and is reflected in your trade confirmation documents.

How much is this fee?

1. CAT Fee 2026-1 (Prospective CAT Fee)

  • Fee Rate: $0.000001 per executed equivalent share.

  • Duration: This fee is expected to remain in effect until January 2027.

2. CAT Fee 2026-2 (Historical CAT Assessment Fee)

  • Fee Rate: $0.000002 per executed equivalent share.

  • Duration: This temporary assessment fee is expected to remain in effect for approximately two years. However, the actual duration may vary depending on trading volumes. FINRA will discontinue this fee once the target collection amount of $38.9 million has been reached.

Example of CAT Fee Calculation

If you buy or sell 1,000 shares of a U.S. stock, the CAT fees would be calculated as follows:

  • CAT Fee 2026-1:
    1,000 × $0.000001 = $0.001

  • CAT Fee 2026-2:
    1,000 × $0.000002 = $0.002

  • Total CAT Fees:
    ​$0.003

Please note that CAT fees are rounded and may appear differently depending on the final executed share quantity and system processing.

For more details, you may check here.

Please note that this fee is imposed by the regulatory authority and is not charged by InvestSky. These fees are regulatory charges applied to eligible trades and are subject to change based on updates issued by FINRA CAT or other regulatory authorities.

We remain committed to ensuring a transparent and seamless investment experience for our clients.

If you have any questions, feel free to reach out to us! 🚀

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