NYSE American Updates Options Fees and Incentives for Market Makers Brokers
Published Date: 1/28/2026
Notice
Summary
NYSE American is updating its options trading fees starting January 14, 2026. Market Makers will see new sliding scale qualification tiers, and Floor Brokers get changes to their fixed cost prepayment incentives and credit limits. These tweaks aim to keep things fair and rewarding for traders while adjusting how fees and rebates work.
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Monthly FB Credits/Rebates Cap Raised
If you are a Floor Broker firm, the monthly cap on combined Floor Broker credits for QCC trades and rebates through the Manual Billable Rebate Program increases from $3,000,000 to $4,000,000 per month per Floor Broker firm. The Exchange states this change is intended to remain in effect while open outcry volumes remain elevated.
Easier Access to MM Tier 3
If you are a Market Maker firm, the volume threshold to reach tier 3 of the Market Maker (MM) Sliding Scale changes from "greater than 0.70% to 1.25% of TCADV" to "greater than 0.65% to 1.25% of TCADV" effective July 1, 2026. The rates in the MM Sliding Scale do not change and tiers 1 and 4 remain unchanged.
New $0.03 FB Prepay Rebate Option
If you are a Floor Broker participating in the Floor Broker Fixed Cost Prepayment (FB Prepay) Program, you can earn an additional $0.03 rebate per billable side if in a month you execute at least 5,000,000 combined manual billable and QCC billable contracts (10 × the 500,000 minimum) and at least 60% of those contracts are manual billable contracts. This $0.03 rebate is an alternative to the previously available additional rebate tied to Firm Facilitation sides and replaces the existing combined manual/QCC additional rebate option.
Extra $0.01 Rebates for Very High Volume FBs
If you are a Floor Broker in the FB Prepay Program, the Exchange adds additional rebates payable back to the first billable side: $0.01 per manual billable side and $0.01 per two-billable-side QCC contract if you exceed the higher qualifying threshold (combined manual billable and QCC billable contracts exceeding 5 million by at least 100%) by 2 million combined contracts. These additional rebates are designed to reward very large combined manual and QCC volumes.
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