# 2025-15627: LTSE Dangles Better Fees to Lure More Traders

2025-15627, Self-Regulatory Organizations: Long-Term Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Liquidity Incentive Program, is a Federal Register notice from Securities and Exchange Commission published 2025-08-18, effective 2025-08-11; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-15627
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-15627
- Title: Self-Regulatory Organizations: Long-Term Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Liquidity Incentive Program
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 40090
- Published: 2025-08-18
- Effective: 2025-08-11
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

LTSE Dangles Better Fees to Lure More Traders

## Summary

The Long-Term Stock Exchange (LTSE) is updating its Liquidity Incentive Program to encourage traders to add more buy and sell offers, making the market smoother and better for everyone. These changes started right away on August 11, 2025, and could affect how much fees traders pay or earn. If you trade on LTSE, keep an eye on these new rules to make the most of the updated incentives!

## Effects PRIA read

- Lower quote threshold expands eligibility: benefit, medium. If you are an LTSE Member quoting LIP Enhanced Securities, the Exchange lowered the Incentive #1 quoting requirement from 60% to 30% of the time at the NBBO. For the third quarter of 2025, July payments use the 60% July standard, while August and September 2025 use a combined 30% standard across th…
- Other incentives remain unchanged: benefit, low. Incentives #2 and #3 of the LTSE Liquidity Incentive Program remain unchanged and in full force and effect as implemented on July 1, 2025. Only Incentive #1’s quoting threshold is amended.

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## Sources
- [2025-15627 on federalregister.gov](https://www.federalregister.gov/documents/2025/08/18/2025-15627/self-regulatory-organizations-long-term-stock-exchange-inc-notice-of-filing-and-immediate)
- [2025-15627 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-08-18/pdf/2025-15627.pdf)

## Related
- [Previous: 2025-15626, Self-Regulatory Organizations; NYSE Texas, Inc.; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-15626)
- [Next: 2025-15628, Notice of Petition for Waiver of Compliance](https://policyrisk.com/federal-register/2025-15628)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-15627 (as of 2026-06-08).