NYSE Arca Proposes to Waive Combined Cap on Submitting Broker Credits for QCC Trades and Floor Broker Rebates for March 2026
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
NYSE Arca is temporarily waiving its monthly cap on the combined total of Submitting Broker credits paid for Qualified Contingent Cross (QCC) trades and Floor Broker rebates paid through the Manual Billable Rebate Program, but only for the month of March 2026. The exchange is doing this because high trading volumes are causing firms to hit the cap earlier in the month. The waiver gives NYSE Arca time to study and potentially adjust the cap amount while preventing firms from redirecting their order flow to rival options exchanges. The change applies to all similarly situated Submitting Brokers and Floor Brokers and is intended to maintain liquidity and market quality on the exchange.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Waives the monthly combined cap on Submitting Broker credits for QCC trades and Floor Broker rebates for the entire month of March 2026
- Cap waiver effective only for March 2026 to evaluate potential permanent adjustment to the cap amount
- Applies to all similarly situated Submitting Brokers and Floor Brokers on NYSE Arca Options
+ 3 more changes with Pro
Obligations
What this law requires
NYSE Arca must waive the maximum combined cap on Submitting Broker credits for QCC trades and Floor Broker rebates through the Manual Billable Rebate Program for the month of March 2026
NYSE Arca must apply the cap waiver equitably to all similarly situated Submitting Brokers and Floor Brokers without unfair discrimination
NYSE Arca must evaluate and potentially adjust the cap amount during the waiver period in March 2026
NYSE Arca must modify the NYSE Arca Options Fee Schedule to reflect the waiver of the combined maximum cap for March 2026
NYSE Arca must maintain the waiver only for the month of March 2026 and reinstate normal cap limitations thereafter