NYSE Charges Limited Underwriters $350 Monthly Starting Now
Published Date: 8/19/2025
Notice
Summary
Starting August 5, 2025, the New York Stock Exchange will charge Limited Underwriting Members a $350 monthly fee. This new rule affects brokers or dealers who qualify under the new Limited Underwriting Member status. It’s a straightforward change to help cover costs and keep things running smoothly on the Exchange.
Analyzed Economic Effects
4 provisions identified: 3 benefits, 1 costs, 0 mixed.
New $350/Month Member Fee
Starting August 5, 2025, the New York Stock Exchange will charge Limited Underwriting Members a $350 monthly fee (beginning in the month an application is approved). This equals $4,200 per year and applies to registered brokers or dealers that qualify as Limited Underwriting Members under Exchange Rule 310.
Exemption From Other NYSE Fees
Limited Underwriting Members would not be subject to any other New York Stock Exchange fees while they pay the $350 monthly membership fee. The exemption is part of the same Rule 310 package tied to Limited Underwriting Member status.
Lower Cost Than Nasdaq Comparable
The NYSE fee equals $350 per month ($4,200 annually), which the filing states is lower than the comparable Nasdaq Limited Underwriting Member cost (Nasdaq: $5,000 annual fee plus a $2,000 application fee). This may affect where brokers or dealers choose to obtain limited underwriter membership.
Who Can Become a Limited Underwriter
Under Rule 310, any registered broker or dealer with a disciplinary history satisfactory to the Exchange (and not statutorily disqualified under Rule 346) may become a Limited Underwriting Member and thus be subject to the $350/month fee and the related fee exemptions.
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Department and Agencies
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