Section 31 transaction fee officially resets from $0.00 to $20.60 per million…
New rate hit the tape on April 4; effectively ends the “Zero Fee” holiday…
Volume cratered 18% in the first hour of trading as HFT algos recalibrate…
The “Hidden Cost”: Every $1M in stock sold now costs $20.60 more than last month…
New Rate for Fees Paid Under Section 31 of the Exchange Act
Published Date: March 17, 2026
Effective Date: April 4, 2026
Summary
Effective April 4, 2026, the Section 31 fee rate applicable to specified securities transactions on the exchanges and in the over-the-counter markets will increase from its current rate of $0.00 per million dollars in transactions to a new rate of $20.60 per million dollars in transactions.