NYSE American Updates Fees for Electronic Market Makers
Published Date: 4/11/2025
Notice
Summary
Starting April 1, 2025, NYSE American is updating some fees and credits for Electronic Designated Market Makers (eDMMs) who trade certain stocks. These changes tweak how much eDMMs pay or earn monthly, aiming to keep things fair and competitive. If you’re an eDMM or follow stock trading fees, these updates could affect your costs or earnings right away.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
New $1,250 Monthly Rebate Level
Starting April 1, 2025, NYSE American will offer a new optional monthly Credit Per Security of $1,250 for Electronic Designated Market Makers (eDMMs) that quote at the National Best Bid or Offer (NBBO) for a minimum average of 80% of the time.
Lower Per-Share Credit Tradeoff
To be eligible for the monthly Credit Per Security levels (including the new $1,250 level), eDMMs must agree to receive a lower per-share credit of $0.0020 for orders that add displayed liquidity instead of the otherwise-applicable $0.0045 per share.
Monthly, Optional Program Open to All eDMMs
The Credit Per Security option (including the new $1,250 level) is available to all eDMM firms, who may elect to participate on a monthly basis by meeting the prescribed per-symbol quoting requirements.
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