NYSE Arca Modifies Fees for External Market Data Feeds
Published Date: 5/5/2025
Notice
Summary
NYSE Arca is updating its fee schedule for connecting to outside systems and data feeds. This change affects anyone using their services to access third-party market info, adjusting who can charge fees and how much. The new fees kick in right away, so users should check the updated schedule to stay in the know and avoid surprises.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Data‑feed monthly fee changes
If you are a User who buys connectivity to third‑party data feeds, NYSE Arca changed the monthly recurring connectivity fees for many feeds and added new feeds with stated monthly prices. Examples added or changed in the filing include: Blue Ocean ATS (BOATS) for $750/month; Cboe CFE Futures for $1,500/month; Long Term Stock Exchange for $2,600/month; MEMX Equities for $2,000/month; MEMX Options for $2,000/month; Small Exchange for $1,000/month; Cboe Canada (combined) at $2,000/month; Nasdaq Stock Market (combined) at $3,000/month; TMX Group (combined) at $2,500/month; and multiple MIAX feeds at $2,600/month each. These new fees are part of the April 16, 2025 filing and are effective upon that filing.
Connectivity partners may pass through fees
The Exchange added the phrase "and their partners" to clarify that third‑party data providers and their connectivity partners may charge redistribution fees, and the Exchange will pass those charges through to Users on their invoices without change. The filing specifically notes that the Exchange expects the connectivity partner of BOATS will charge a redistribution fee that will be passed through to the User.
More third‑party systems available
If you are a market participant that uses NYSE Arca colocation services (a "User"), the Exchange added new Third Party Systems you can connect to: 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 filing says the monthly recurring fees for access to Third Party Systems will not change and no User would be charged more because of the combinations.
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