NYSE Arca Options Fee Schedule Changes for Non-Customer and Floor Broker Fees and Rebates
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NYSE Arca proposes two main changes to its options fee schedule effective March 10, 2026. First, it extends the existing $0.12 per contract Non-Customer Complex Surcharge from electronic complex orders to Manual complex orders when a Non-Customer trades against a Customer. Second, it introduces a new $0.20 per contract rebate for Floor Broker orders that execute against Market Maker orders on the Trading Floor. This rebate replaces other rebates for participants in the FB Prepay Program. The changes aim to incentivize Floor Broker activity while offsetting costs through the extended surcharge. The Exchange argues these adjustments promote trading volume and competition without discouraging Non-Customer participation.
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Key Changes
- Extend $0.12 per contract Non-Customer Complex Surcharge to Manual complex orders when Non-Customer executes against Customer
- Effective date: March 10, 2026
- New $0.20 per contract rebate for Floor Broker orders trading with Market Maker orders on the Trading Floor
+ 3 more changes with Pro
Obligations
What this law requires
Apply a $0.12 per contract Non-Customer Complex Surcharge to Manual complex orders when a Non-Customer trades against a Customer Manual complex order, effective March 10, 2026
Adopt new Endnote 18 to the Fee Schedule specifying that the Non-Customer Complex Surcharge applies to both electronic and Manual complex orders
Specify in Endnote 18 that interest from the Trading Crowd is considered 'Non-Customer' for purposes of the Non-Customer Complex Surcharge as applicable to Manual executions
Revise the heading of the pricing table titled 'Discount on Non-Customer Complex Surcharge' to add the words 'for Electronic Executions' to clarify such discounts do not apply to Manual complex orders
Establish and pay a rebate of $0.20 per contract to Floor Broker orders that execute against Market Maker orders on the Trading Floor, effective March 10, 2026