SEC Puts Brakes on NYSE's Festive Options Fee Holiday Waiver
Published Date: 1/30/2025
Notice
Summary
NYSE American wants to skip charging the Options Regulatory Fee (ORF) for all of December 2024 to keep fees fair and balanced. But the SEC hit pause and is now reviewing if this fee waiver is a good idea before giving the green light. If approved, traders save money in December, but the usual fee of $0.0038 per share kicks back in January 2025.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Proposed December 2024 ORF Waiver
The exchange proposed to waive the Options Regulatory Fee (ORF) for the period December 1, 2024 through December 31, 2024. The ORF is charged to American Trading Permit (ATP) Holders on options transactions cleared in the Customer range through the Options Clearing Corporation (OCC). The Exchange proposed to resume the ORF at the same rate of $0.0038 per share on January 1, 2025.
SEC Suspended Waiver; Review and Comment Deadlines
On January 24, 2025 the Securities and Exchange Commission temporarily suspended the proposed ORF waiver and instituted proceedings to decide whether to approve or disapprove the change. The Commission solicited comments due February 20, 2025 and rebuttal comments due March 6, 2025, and will consider whether the proposal meets requirements in Sections 6(b)(4), (5), and (8) of the Securities Exchange Act.
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