NYSE Tweaks Fees for Third-Party Data Feed Connections
Published Date: 7/14/2025
Notice
Summary
The New York Stock Exchange (NYSE) is updating its fees for connecting to outside systems and data feeds. This change affects traders and firms using these connections by adjusting who can charge fees and how much they pay. The new fee schedule takes effect immediately, so users should check the updated costs right away.
Analyzed Economic Effects
5 provisions identified: 2 benefits, 1 costs, 2 mixed.
New and changed monthly data‑feed fees
The NYSE updated monthly recurring connectivity fees for Third Party Data Feeds and added new feeds with set monthly fees: Blue Ocean ATS (BOATS) $750/month; Cboe CFE Futures $1,500/month; Long Term Stock Exchange $2,600/month; MEMX Equities $2,000/month; MEMX Options $2,000/month; Small Exchange $1,000/month. The filing also combines and sets fees for some feeds (Cboe Canada combined fee $2,000/month; Nasdaq Stock Market combined fee $3,000/month; TMX Group combined fee $2,500/month) and states it will change the monthly fee for 18 feeds in total.
Redistribution fees passed through to Users
The Exchange added 'and their partners' to clarify that third party Data Feed providers and their connectivity partners may charge redistribution fees. When the Exchange receives a redistribution fee, it will pass the charge through to the User without change and label it as a pass-through on the User's invoice.
NYSE adds new third‑party systems
The NYSE added new Third Party Systems that Users can connect to, including Blue Ocean ATS (BOATS), Canadian Imperial Bank of Commerce (CIBC), Long Term Stock Exchange (LTSE), MEMX, Pragma, and Small Exchange. These systems will be available as options to Users in the Mahwah, NJ data center and Users can choose which systems to subscribe to.
No change to Third Party System bandwidth pricing
The Exchange states it is not changing the monthly recurring fee Users pay for access to each Third Party System and that combining Cboe MATCHNow into Cboe Canada will not cause a User to be charged more. Bandwidth connection fees continue to vary by size of the connection, not by the particular Third Party System.
Fee schedule effective immediately upon filing
The NYSE filed this rule change on June 27, 2025 and the Exchange states the proposed rule change has become effective pursuant to Section 19(b)(3)(A) and Rule 19b-4(f)(6)(iii). Users should check the updated connectivity and data‑feed fees right away because the new fee schedule is effective upon filing.
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NYSE American is updating its fee schedule for connecting to third-party systems and data feeds. This change affects traders and firms using these connections by adjusting fees and clarifying who can charge extra for sharing data. The new fees take effect immediately, so users should check the updated schedule to avoid surprises.