NYSE American Overhauls Options Fees by Cutting Incentives and Limits
Published Date: 4/3/2026
Notice
Summary
Starting March 18, 2026, NYSE American is shaking up its options fees by dropping some old incentives and raising the max credits floor brokers can earn on certain trades. This means floor brokers and traders using the Manual Billable Program will see changes in how much they can get back. It’s all about keeping things fair and encouraging smart trading moves on the exchange.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Higher Monthly Cap on Floor Broker Credits
Starting March 18, 2026, the monthly limit (the “FB Cap”) on combined Floor Broker credits for QCC trades and rebates through the Manual Billable Rebate Program increases from $4,000,000 to $5,500,000 per month per Floor Broker firm.
Removal of FB AON CUBE Per-Contract Rebate
Effective March 18, 2026, the Exchange will eliminate the FB AON CUBE Rebate, which currently provided a $0.12 credit per contract on each of the first 5,000 contracts of an AON Single CUBE order (or the first 1,000 contracts per leg in an AON Complex CUBE auction) for Floor Brokers meeting a minimum eligibility of 2,500 contracts ADV in AON CUBE Orders.
Elimination of ATP Electronic $0.10 Customer Rebate
Effective March 18, 2026, the Exchange will remove the ATP Electronic Rebate that provided a $0.10 per-contract Customer Credit on Customer Electronic Simple and Complex executions for ATP Holders that met monthly qualification levels (including 5,000 contracts ADV from Initiating CUBE Orders and percentage-of-TCADV thresholds). Participants may still obtain Customer Electronic rebates via the Exchange's American Customer Engagement (ACE) program.
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