NYSE Arca Adds New Retail Fee Tier for Traders
Published Date: 12/17/2025
Notice
Summary
NYSE Arca is shaking up its fees starting December 1, 2025! They’re adding a new Retail Tier 5, dropping the old Retail Step-Up Tier, and giving traders a new way to qualify for better Retail Order rates. If you trade on NYSE Arca, these changes could save you money or change how you qualify for discounts.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
New Retail Tier 5 Credit
NYSE Arca will add a new Retail Tier 5 that pays a credit of $0.0035 per share to ETP Holders that execute an average daily volume (ADV) of Retail Orders with a time-in-force of Day equal to at least 0.15% of CADV in the billing month. As an alternative, ETP Holders can qualify with 0.075% of CADV combined with affiliated options Customer/Professional Customer posting volume of at least 0.40% of TCADV across all options classes. ETP Holders that qualify for Retail Tier 5 also get the existing fee exemption/fee of $0.0025 per share structure for Retail Day removing orders described in the Fee Schedule (and footnote (d) continues to exclude trades where both sides share the same MPID and are Retail Orders).
Alternative Volume Threshold For Fees
NYSE Arca will offer an alternative volume test so that the $0.0025 per share fee for Retail Day removing orders applies only after an ETP Holder exceeds either 170 million shares in a billing month or 0.055% of Dollar Plus Consolidated Volume (whichever is higher), subject to a maximum cap of 250 million shares. For example, in a month-to-date example the 0.055% cap can exceed 170 million (e.g., 176 million) and can reach the 250 million maximum cap.
Elimination of Retail Step-Up Tier
NYSE Arca will remove the current Retail Step-Up Tier (which paid $0.0035 per share for ETP Holders that executed ADV of Retail Day orders equal to at least 0.075% of CADV) and will delete footnote (e) from the Retail Tiers pricing table. Footnote (e) previously allowed a no-fee treatment for the first 170 million shares in a month if Retail Orders increased over May 2022 by at least 0.05% of CADV. With removal of these items, ETP Holders would be charged fees for Retail Day removing orders unless they qualify under the remaining Retail Tiers.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Take It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in