CAT Fees

What are Consolidated Audit Trails (CAT) Fees?

CAT fees are trading fees assessed on customer stock and options trading activity to cover required regulatory reporting costs. The CAT is a regulatory initiative mandated by the U.S. Securities and Exchange Commission (SEC) to create a comprehensive audit trail of all equity and options trades in the U.S. markets. The CAT Fee is a charge assessed to industry members, such as broker-dealers like Webull, to fund both the historical development and the ongoing operational costs of the CAT system. Many broker-dealers, including Webull, pass the fee to customers.

How much is the CAT fee?

The CAT fee is not being charged on trades at this time. This suspension is in effect until further notice and may be reinstated at any time. You can find additional information on our trading fees here.

What is the definition of an executed equivalent share?

• 1 share in an NMS Stock = 1 executed equivalent share 
• 1 share in an OTC Equity Security = 0.01 executed equivalent share 
• 1 Listed Option contract = 100 executed equivalent shares (or, if different, the applicable contract multiplier) 

If you have any questions about how the CAT Fee is calculated, please contact us via the in-app Help Center or by emailing support@webull.com.