MEMX submits application to SEC for 21Shares XRP ETF listing

MEMX LLC has recently filed a proposed rule change with the SEC related to Tape A, the Consolidated Tape Association’s real-time data feed that broadcasts key price information for securities listed on the New York Stock Exchange (NYSE). The proposed rule change seeks to amend the fees MEMX charges for accessing Tape A data in order to align the fees with the actual costs incurred by MEMX to provide this service.

The proposed changes include implementing a fee of $100 per user per month for access to Tape A data. MEMX believes that this fee is necessary to cover the costs associated with providing this service and to ensure that the fees are reasonable and equitable for all market participants.

MEMX has stated that the proposed fee structure is consistent with the fees charged by other exchanges for access to Tape A data. The fees collected from market participants will be used to cover the costs of distributing Tape A data, including hardware, software, and personnel expenses.

MEMX has also emphasized that the proposed fee structure will not have a significant impact on market participants, as the fees are in line with industry standards. MEMX believes that the proposed changes will improve the overall efficiency and transparency of the market by ensuring that the costs of providing Tape A data are fairly distributed among all market participants.

In addition to the proposed fee changes, MEMX is also seeking approval to make certain technical changes to its systems to improve the accuracy and reliability of Tape A data. These changes include updating software systems and hardware infrastructure to ensure that market participants receive timely and accurate data.

Overall, MEMX’s proposed rule change for Tape A data aims to ensure that the fees charged for accessing this critical market data are fair and reasonable. By aligning the fees with the actual costs of providing the service, MEMX believes that the proposed changes will promote transparency and efficiency in the market, benefiting all market participants.