NYSE Tweaks Trading Fees in Thrilling Regulatory Update
Published Date: 11/26/2025
Notice
Summary
Starting October 1, 2025, NYSE Arca is changing some fees for retail investors who place certain stock orders. They’re tweaking charges for orders that remove liquidity and removing a special fee modifier for orders matched with other retail orders. These updates affect everyday traders and aim to keep trading fair and clear.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
New per-share fee above 170M
Starting October 1, 2025, NYSE Arca will charge $0.0025 per share for Retail Orders with a time-in-force of Day that remove liquidity once an ETP Holder executes more than 170,000,000 such shares in a billing month; the first 170,000,000 shares in the month remain not charged. This fee applies under Retail Tier 1, Retail Tier 2, Retail Tier 3, Retail Step-Up Tier, and to qualifying orders under footnote (e).
Broader exemption for matched retail trades
Starting October 1, 2025, NYSE Arca will remove the "time-in-force of Day" requirement in footnote (d) so that any executed order where both sides share the same MPID and both sides are Retail Orders will not be charged a fee or provided a credit. Previously that no-fee/no-credit treatment applied only when those Retail Orders had a time-in-force of Day.
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