NYSE Tweaks Fees for Virtual Links to Trading Floors Nationwide
Published Date: 4/28/2025
Notice
Summary
The New York Stock Exchange (NYSE) wants to update its fees for a service called the Virtual Control Circuit (VCC) to cover connections to its main trading floors, including NYSE American and NYSE Arca. This change affects traders and firms using these connections and could impact their costs. The update was proposed in April 2025 and is open for public comments before it takes effect.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 1 costs, 1 mixed.
Monthly Bandwidth Fees for TF Connections
If you (as a User) purchase Trading-Floor connectivity, monthly charges are set by bandwidth: 1 Mb $200, 3 Mb $400, 5 Mb $500, 10 Mb $800, 25 Mb $1,200, 50 Mb $1,800, and 100 Mb $2,500. A TF VCC (single trading floor) and a TF VRF (one or more trading floors) have identical fee schedules, but a User choosing multiple VCCs or a mix of VCC and VRF will be charged separately for each connection while a single VRF to multiple trading floors is charged once.
New Trading-Floor Connectivity Option
The NYSE proposes to expand its Virtual Control Circuit (VCC) service to include connections between the Mahwah data center (MDC) and the NYSE, NYSE American, and NYSE Arca trading floors. The service is voluntary, offered to all "Users" equally, and may be used to send trading-related data or back-office communications between the MDC and equipment physically located on a trading floor.
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: 2025-07211, Self-Regulatory Organizations; NYSE American LLC; Notice of Filing of a Proposed Rule Change, as Modified by Partial Amendment No. 1, To Amend the Connectivity Fee Schedule
NYSE American is updating its connectivity fees to cover virtual control circuit access to the trading floors of NYSE, NYSE American, and NYSE Arca. This change affects traders and firms using these connections and may impact their costs starting soon after approval. The Exchange wants to keep fees fair and clear while supporting smooth trading floor access.
Next: 2025-07213, Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of a Proposed Rule Change To Amend the Virtual Control Circuit Service in the Connectivity Fee Schedule
NYSE Arca is updating its connectivity fees to include access to the trading floors of NYSE, NYSE American, and NYSE Arca itself. This change affects traders and firms who use these virtual control circuits to connect, possibly changing their costs. The new fee schedule is proposed now and open for comments before it takes effect.