New York Stock Exchange Adjusts Outside Data Feed Fees
Published Date: 5/5/2025
Notice
Summary
The New York Stock Exchange is updating its fees and rules for connecting to outside systems and data feeds. This affects traders and firms using NYSE’s services, who might see changes in what they pay and who can charge extra fees. The new fee schedule is effective immediately, so users should check the updated costs right away.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
New and Revised Third-Party Data Feed Fees
The NYSE added new Third Party Data Feeds and set monthly connectivity fees (e.g., BOATS $750/month; Cboe CFE Futures $1,500/month; Long Term Stock Exchange $2,600/month; MEMX Equities $2,000/month; MEMX Options $2,000/month; Small Exchange $1,000/month). The filing also combines and re-prices several feeds (for example, Cboe MATCHNow combined into Cboe Canada with a combined fee of $2,000/month; Nasdaq Stock Market combined with Nasdaq ISE for $3,000/month; TMX Group combined with Montreal Exchange for $2,500/month) and changes monthly fees for many existing feeds.
Connectivity Partners May Charge Pass-Through Redistribution Fees
The NYSE added language to the fee schedule to include connectivity partners among parties that may charge redistribution fees, and when the Exchange receives such a redistribution fee it will pass the charge through to the User unchanged and label it as a pass-through on the invoice. The Exchange specifically expects a BOATS connectivity partner may charge a redistribution fee that would be passed through to Users.
NYSE Adds New Third-Party Systems
The NYSE added new Third Party Systems that Users can connect to at the Mahwah data center, including Blue Ocean ATS (BOATS), Canadian Imperial Bank of Commerce (CIBC), Long Term Stock Exchange, MEMX, Pragma, and Small Exchange, and it combined Cboe MATCHNow into Cboe Canada. The monthly recurring connectivity pricing based on bandwidth is unchanged and access is voluntary; Users only pay for systems they choose.
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