SEC Hits Pause on NYSE's December Trading Fee Holiday
Published Date: 1/29/2025
Notice
Summary
NYSE Arca wants to skip charging the Options Regulatory Fee (ORF) for all of December 2024 to keep fees fair and balanced. But the SEC has hit pause and is now reviewing if this fee waiver should be approved or not. If approved, traders save money in December, but the usual fee of $0.0038 per share will return in January 2025.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Proposed December ORF Waiver
NYSE Arca proposed to waive the Options Regulatory Fee (ORF) for December 1 through December 31, 2024. That waiver would pause the ORF charges that apply to Options Trading Permit (OTP) Holders and OTP Firms for transactions cleared in the Customer range, with the ORF scheduled to resume at $0.0038 per share on January 1, 2025.
SEC Suspends and Will Review Waiver
On January 23, 2025, the Securities and Exchange Commission temporarily suspended NYSE Arca's proposed ORF waiver and opened proceedings to decide whether to approve or disapprove it. Because the Commission paused the proposal, the waiver is under review and not final while the SEC considers whether the December 2024 waiver and resumption at $0.0038 per share on January 1, 2025 meet statutory standards.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-17058, Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Connectivity Schedule and Discontinue a Previously Proposed Offering
Previous / Next Documents
Previous: 2025-01854, Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Harmonize the Equity Options Listing Rules of the Exchange in Regard to the Listing of Options Series With $1 Strike Prices With the Equity Options Listing Rules of Its Affiliated Exchange, Cboe Exchange, Inc.
Cboe EDGX Exchange is updating its rules to match its sister exchange, Cboe Options, when it comes to listing equity options with $1 strike prices. This change makes trading simpler and more consistent for investors and traders using both exchanges. The new rules took effect right after filing on January 15, 2025, with no extra costs or delays involved.
Next: 2025-01856, Public Notice of AIP Property Release Idaho Falls Regional Airport, Idaho Falls, Idaho
The City of Idaho Falls wants to sell about 0.6 acres of land at Idaho Falls Regional Airport. The FAA is thinking about saying yes to this request, which means the city can use the money from the sale for other airport projects. This change affects local airport property and could happen soon if approved.