Texas NYSE Eyes Fee Hikes for Virtual Ties to Major Floors
Published Date: 4/28/2025
Notice
Summary
NYSE Texas is updating its fees to include virtual connections to the trading floors of NYSE, NYSE American, and NYSE Arca. This change affects traders and firms using these services and may impact their connectivity costs starting soon. The Exchange wants feedback before making it official, so keep an eye out if you’re plugged into these trading floors!
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Analyzed Economic Effects
4 provisions identified: 1 benefits, 2 costs, 1 mixed.
Monthly Prices for TF Connectivity
The proposed Fee Schedule lists monthly charges for Virtual Routing and Forwarding or Virtual Control Circuit connections to a Trading Floor as: 1 Mb $200, 3 Mb $400, 5 Mb $500, 10 Mb $800, 25 Mb $1,200, 50 Mb $1,800, and 100 Mb $2,500. When a User requests a TF Connection, the monthly charge will be based on the bandwidth size the User identifies.
Trading-Floor Connections Added to VCC
The Exchange proposes to add connectivity between the Mahwah data center (MDC) and the New York Stock Exchange, NYSE American, and NYSE Arca trading floors to its Virtual Control Circuit (VCC) service. This option would be available to Users that request colocation services and would let them run connections between the MDC and equipment physically located on a Trading Floor.
VRF vs VCC Charging Rule
The Fee Schedule note states: if a User chooses VCCs or a combination of a VCC and a VRF to connect to several Trading Floors, the User will be charged separately for each connection; if the User chooses one VRF for connectivity to multiple Trading Floors, the User will be charged for one connection. This changes how costs are applied when connecting to multiple trading floors.
TF Connections Do Not Allow Order Entry
The filing states that a TF Connection will not provide direct access or order entry to the Exchange's execution system and will not be through the Exchange's execution system. Establishing a TF Connection does not grant FIDS or the Exchange any right to use the relevant exchange's system.
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