NYSE Brokers Score: April Rebate Caps Temporarily Waived
Published Date: 4/24/2025
Notice
Summary
Starting April 17, 2025, NYSE American is waiving the usual limit on credits and rebates paid to floor brokers for QCC trades and manual rebates. This means floor brokers can earn more money from these trades during April without hitting a cap. If you’re a floor broker or involved in these trades, this change could boost your earnings for the month!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
Floor Brokers Can Earn Above $3M
If you are a Floor Broker firm, NYSE American waived the usual $3,000,000 per-month cap on combined credits for QCC trades and rebates paid through the Manual Billable Rebate Program for April 2025. The waiver is effective April 17, 2025 and applies for the month of April 2025, so floor broker firms can receive credits/rebates above $3,000,000 that month.
Waiver Aims to Boost April Market Liquidity
The Exchange says the April 2025 waiver is intended to keep Floor Brokers directing manual and QCC order flow to NYSE American, which should increase liquidity and could tighten spreads for market participants during April 2025. The waiver is effective April 17, 2025 and applies for the month of April 2025.
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