CT Plan Requests Three-Week Extension on Fee Schedule Filing

New NMS Market Data Plan Asks SEC for Exemptive Relief

NEW YORK, Nov. 19, 2025 /PRNewswire/ -- The Operating Committee of the Consolidated Tape Plan ("CT Plan") today announced it has sent the Securities and Exchange Commission ("SEC") a request for exemptive relief related to the due date for its fee filing.

The CT Plan is requesting permission to postpone its submission of the proposed fee schedule by three weeks, from November 20, 2025, to December 11, 2025. This short delay is not expected to impact the overall timeline of transitioning from the current NMS Data Plans (CTA/CQ and UTP) or the CT Plan's overall launch date.

Since March 2025, the Operating Committee's Fees and Policies Subcommittee has been diligently developing proposed fees for transaction reports and quotation information in eligible securities. In order to get maximum feedback from the industry, the Subcommittee, which consists of both the CT Plan Members and the Advisory Committee, retained an independent consultant that has conducted two surveys of market data subscribers. This informative, in-depth work added additional time to the process.

"Creating a fee schedule that both works for the industry and ensures the ongoing viability of the CT Plan as an entity is of the utmost importance," said Jeff Kimsey, Chairman on the CT Plan Operating Committee. "We appreciate the time and energy the Fees and Policies Subcommittee has put into this process, and request that the SEC provide a three-week extension to finalize our proposal."

About the CT Plan

The CT Plan will be the unified successor to the existing three market data equity plans, the CTA Plan/CQ Plan and the UTP Plan. The CT Plan, which will streamline the administrative functions and deliver greater efficiency to the industry, is expected to go live in Q2 2027.

The CT Plan was established pursuant to a September 2023 order by the Securities and Exchange Commission ("SEC") that directed the U.S. equities exchanges and FINRA to act jointly in developing a new single national market system plan to govern the public dissemination of real-time consolidated equity market data.

Current information about the CT Plan, including a timeline, can be found on the CT Plan website at thectplanllc.com. CTA/CQ and UTP Plan web sites, ctaplan.com and utpplan.com, also have information about the CT Plan.

Media Contact
Rafi Reguer
Forefront Communications for the CT Plan
718-781-4946
[email protected]

SOURCE CT Plan