NYSE Arca Adjusts Fees for Third-Party Data and Systems
Published Date: 7/14/2025
Notice
Summary
NYSE Arca is updating its fees and rules for connecting to outside systems and data feeds. This change affects traders and firms using these connections, adjusting who can charge fees and how much they pay. The new fee schedule kicks in right away, so users should check the updated costs and rules now.
Analyzed Economic Effects
5 provisions identified: 1 benefits, 3 costs, 1 mixed.
New data feeds added with set monthly fees
NYSE Arca added new Third Party Data Feeds that Users can subscribe to and listed monthly recurring fees: Blue Ocean ATS (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. If you subscribe, these fees will appear on your invoice.
Multiple data‑feed fee changes and combinations
The Exchange changed monthly recurring connectivity fees for a number of existing Third Party Data Feeds and combined certain feeds: Cboe MATCHNow is combined into Cboe Canada (new combined fee $2,000/month); Nasdaq Stock Market combined with Nasdaq ISE (combined fee $3,000/month); TMX Group combined with Montreal Exchange (combined fee $2,500/month). The filing notes fee adjustments for 18 feeds in total.
More execution systems available
If you use NYSE Arca colocation services, the Exchange added new third‑party execution systems you can connect to: Blue Ocean ATS (BOATS), Canadian Imperial Bank of Commerce (CIBC), Long Term Stock Exchange, MEMX, Pragma, and Small Exchange. The Exchange says it will not change the monthly recurring fee structure for access to each Third Party System and you only pay for the specific systems and bandwidth you choose.
Redistribution (pass‑through) fees clarified
The Exchange added the phrase "and their partners" to clarify that third‑party data providers and their connectivity partners may charge redistribution fees; 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 filing specifically expects the BOATS connectivity partner to charge a redistribution fee that will be passed to Users.
Fee schedule effective immediately — check now
The proposed rule change was filed on June 27, 2025 and became effective immediately under the filing rules; the Commission published notice July 14, 2025. If you are a User of NYSE Arca colocation services, the updated list of systems, feeds, and the new monthly fees are in effect now and you should check the updated Connectivity Fee Schedule.
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