Citadel Securities leads fight over payments for market surveillance system

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The story "Citadel Securities leads fight over payments for market surveillance system" was covered 11 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 11h ago

Citadel Securities leads fight over payments for market surveillance system - Financial Times

Quick Summary:

Citadel Securities, which is controlled by billionaire Ken Griffin, has warned the SEC that it would “be left with no choice but to seek appropriate judicial relief” if the SEC did not suspend the billing by next week.

Brokers have pointed out the wide disparities between mock bills sent out by the committee that operates CAT and their own internal estimates of their dues, which they plan to use as the basis for passing on charges to clients.

Exchange officials privately pointed out that they were ordered by the SEC to set up the system, and it was always planned that the costs would be shared with the industry.