# 2025-15731: NYSE Charges Limited Underwriters $350 Monthly Starting Now

2025-15731, Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a Fee for Limited Underwriting Members, is a Federal Register notice from Securities and Exchange Commission published 2025-08-19, effective 2025-08-05; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-15731
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-15731
- Title: Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a Fee for Limited Underwriting Members
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 40400
- Published: 2025-08-19
- Effective: 2025-08-05
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

NYSE Charges Limited Underwriters $350 Monthly Starting Now

## 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.

## Effects PRIA read

- New $350/Month Member Fee: cost, high. 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…
- Exemption From Other NYSE Fees: benefit, medium. 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: benefit, medium. 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: benefit, low. 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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## Sources
- [2025-15731 on federalregister.gov](https://www.federalregister.gov/documents/2025/08/19/2025-15731/self-regulatory-organizations-new-york-stock-exchange-llc-notice-of-filing-and-immediate)
- [2025-15731 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-08-19/pdf/2025-15731.pdf)

## Related
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- [Next: 2025-15732, Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of Ame…](https://policyrisk.com/federal-register/2025-15732)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-15731 (as of 2026-06-08).