NYSE American LLC Proposes Changes to Options Fee Schedule for Non-Customer and Floor Broker Fees and Rebates
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
NYSE American proposes two main changes to its options fee schedule effective March 10, 2026. First, it will extend the existing $0.12 per contract Non-Customer Complex Surcharge (reducible to $0.10 for qualifying ATP Holders) from electronic complex orders to Manual non-Simple orders when a Non-Customer order executes against a Customer order. Interest from the Trading Crowd counts as Non-Customer for manual executions. Second, it introduces a new $0.20 per contract rebate to Floor Broker orders that trade with Floor Market Maker orders on the trading floor. This rebate replaces other manual rebates for participants in the FB Prepay Program. The exchange states these changes aim to incentivize floor activity while offsetting costs, in a competitive market where it holds about 9% share of multiply-listed equity and ETF options volume.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Extend $0.12 per contract Non-Customer Complex Surcharge to Manual non-Simple orders executing against Customer non-Simple orders
- Reduce surcharge to $0.10 per contract for Electronic executions if ATP Holder reaches 0.20% of TCADV of Electronic Non-Customer Complex Orders
- Introduce $0.20 per contract rebate for Floor Broker orders trading with Floor Market Maker orders
+ 3 more changes with Pro
Obligations
What this law requires
Implement $0.12 per contract Non-Customer Complex Surcharge on Manual non-Simple orders executing against Customer Manual non-Simple orders, effective March 10, 2026
Reduce Non-Customer Complex Surcharge to $0.10 per contract for ATP Holders achieving at least 0.20% of TCADV of Electronic Non-Customer Complex Orders in a month, applying only to electronic executions
Classify interest from Trading Crowd as 'Non-Customer' for purposes of Manual non-Simple order surcharge calculations
Implement $0.20 per contract rebate payable to Floor Broker orders that trade with Floor Market Maker orders on the Trading Floor, effective March 10, 2026
Apply new Floor Broker rebate in lieu of rebates earned through Manual Billable Rebate Program for FB Prepay Program participants