NYSE American Reorganizes Options Fee Schedule for Clarity
Published Date: 7/21/2025
Notice
Summary
NYSE American is updating its options fee schedule to make the Manual Billable Rebate Program clearer and easier to understand. They’re also removing old pricing that’s no longer used. These changes took effect right away on July 8, 2025, and will impact traders using the rebate program by simplifying how fees and rebates are shown.
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Monthly Rebate Amounts and Volume Thresholds Clarified
If you are a Floor Broker participating in the FB Prepay Program, the restructured rule text reiterates the monthly rebate levels and qualifying volumes: executing at least 500,000 manual billable sides in a month yields a $0.05 rebate per billable side payable back to the first side; executing at least 1.1 million manual billable sides yields an additional $0.02 per billable side payable back to the first side. Other paths include 500,000 manual billable sides plus 3.5 million Firm Facilitation sides for an additional $0.02, or at least 5 million combined manual billable and QCC billable contracts for a $0.10 rebate per billable side, payable back to the first billable side.
Fee Schedule Presentation Restructured
If you are a Floor Broker participating in the FB Prepay Program, the Manual Billable Rebate Program text on the NYSE American options fee schedule was restructured from a table into paragraph form to make it easier to read. This change took effect on July 8, 2025.
Percent-Based Additional Rebate Thresholds
If you are a Floor Broker participating in the FB Prepay Program, the Exchange replaced raw-number step-up thresholds for combined manual billable and QCC volume with percentage thresholds measured off a 5 million base. Specifically, exceeding the 5 million combined threshold by 40% yields an additional $0.01 per billable side and exceeding it by 100% yields an additional $0.02 per billable side, payable back to the first billable side.
Three-Month Manual Volume Program Removed
The Exchange removed references to the Three-Month Manual Volume Program from the Fee Schedule because that program expired at the end of May 2025 and is no longer available to FB Prepay participants. This deletion is intended to clean up obsolete pricing text and improve clarity.
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: 2025-13577, Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing of Proposed Minor Rule Violation Plan
24X National Exchange is rolling out a new plan to handle small rule-breaking fines up to $2,500 without rushing to report each one immediately. This means members and their associates will get quicker, simpler penalties for minor slip-ups, with the Exchange updating the SEC every three months instead. It’s a smoother, faster way to keep things fair and tidy starting soon!
Next: 2025-13579, New Postal Products
The Postal Service just filed a new deal for special mail services, and the Commission is checking it out. This affects businesses and customers who use these special mail options, with possible changes coming soon. Everyone’s invited to share their thoughts before any final decisions are made.