NYSE Texas Boosts Fee Credits for Clearing Brokers Starting April
Published Date: 4/8/2025
Notice
Summary
NYSE Texas is giving some of its members bigger fee credits starting April 1, 2025. This means certain brokers who clear trades will pay less in fees, saving them money. If you’re a member, keep an eye on these changes because they kick in right away!
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Transaction Fee Credit Raised to 12%
The Exchange is increasing the Transaction Fee Credit for Clearing Brokers from 10% to 12% of the transaction fees received by the Exchange. This change takes effect April 1, 2025 and reduces the fees paid by Clearing Brokers for agency trades executed through Institutional Brokers.
Clearing Submission Fee Credit Increased to 12%
The Exchange is increasing the Clearing Submission Fee Credit from 10% to 12% of Clearing Submission Fees for the portions of transactions handled by Clearing Brokers. The amendment is effective April 1, 2025 and reduces fees for Clearing Brokers on off-exchange executions cleared on the Exchange.
Credits Passed Through; FINRA Membership Requirement
The Exchange provides the Transaction Fee Credit and Clearing Submission Fee Credit to Clearing Brokers, who then pass those credits on to the Institutional Broker associated with the transaction. The filing states that only Institutional Brokers that are members of the Financial Industry Regulatory Authority, Inc. (FINRA) are eligible for the Clearing Submission Fee Credit. These provisions take effect April 1, 2025.
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