NYSE Texas Rolls Out New Fees for Product Listings
Published Date: 6/12/2025
Notice
Summary
NYSE Texas is updating its fee schedule to start charging listing and annual fees for Exchange Traded Products and Structured Products. These new fees kick in right away on June 5, 2025, and include discounts for annual fees. This change affects companies listing these products on NYSE Texas and means they’ll need to budget for these new costs starting now.
Analyzed Economic Effects
7 provisions identified: 2 benefits, 5 costs, 0 mixed.
Annual ETP Fees and Qualification Discounts
NYSE Texas will bill annual fees for ETPs each January, pro-rated in the year of listing, with tiered amounts such as $8,500 for issues under 25 million shares and up to $35,000 for 200–599,999,999 shares (effective June 5, 2025). ETPs with at least $50 billion in assets under management pay a reduced flat annual fee of $5,000, and alternative reduced annual fees are available based on primary listing auction ADV (for example, 200,000 shares ADV qualifies an issue for a $5,000 annual fee).
Annual Fees for Structured Products
Structured Products listed on NYSE Texas will be subject to annual fees based on shares outstanding, ranging from $10,000 (up to 6 million shares) up to $55,000 (in excess of 50 million shares), effective June 5, 2025. Annual fees are billed in January and are pro-rated in the year of listing.
New ETP Listing Fee: $7,500
If you issue an Exchange Traded Product (ETP) and list it on NYSE Texas, the Exchange will charge a $7,500 listing fee for non-generically listed ETPs starting June 5, 2025. Generically‑listed ETPs have no listing fee, and if the same issuer lists three or more non-generically listed ETP issues in the same calendar year, the combined listing fees for those issues are capped at $22,500.
Structured Product Listing Fees by Shares
For Structured Products listed on NYSE Texas, the Exchange will charge listing fees based on shares outstanding, with fees ranging from $5,000 (up to 1 million shares) up to $45,000 (over 15 million shares), and a per-issue cap of $45,000, effective June 5, 2025. Certain Structured Product types listed pursuant to Rule 19b-4(e) will not incur a listing fee.
Multiple Discounts: ETN, Family, High-Volume, Exclusive
NYSE Texas offers multiple discounts to reduce annual fees: a 30% discount for multiple ETN series with identical reference asset/leverage or for issuers with 5+ identical-asset ETNs; product family discounts ranging from 5% (5–9 products) up to 17.5% (250+ products); high-volume product discounts for products meeting CADV or auction ADV thresholds with discounts from 7.5% to 17.5%; and an Exclusive Listing Discount of 12.5% for families with 50+ ETPs exclusively listed on NYSE Texas. Combined discounts may apply but cannot exceed 35%.
Administrative Change Fee: $2,500
NYSE Texas will charge $2,500 for certain administrative changes to listed securities starting June 5, 2025. The $2,500 fee applies per application for actions like name or symbol changes, changes in par value, or other record changes.
Transfer and Dual-Listing Fee Waivers
If an issuer transfers a listing to NYSE Texas from another national securities exchange, NYSE Texas will waive the annual fee for the remainder of the calendar year following the date of listing. ETPs and Structured Products dually listed on NYSE Texas and other national exchanges will not incur any additional fees for the dual listing. These rules take effect June 5, 2025.
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