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.
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