NYSE Arca Slashes Some Fees: Traders Catch a Break
Published Date: 9/15/2025
Notice
Summary
NYSE Arca is changing some fees for certain stock orders to make things simpler and fairer. They’re removing one fee for displayed orders and tweaking how fees for auction-only orders are calculated. These changes start right away and could save some traders money in the first month they trade.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
New RT‑Auction Fee Calculation and Thresholds
If you are an ETP Holder, the Exchange will change the RT‑Auction Fee calculation effective August 29, 2025: the fee will be based on total cancelled shares (not a cancellation-to-execution ratio), include only marketable Auction‑Only Orders, exclude orders entered by Market Makers, and apply time‑based weights so cancellations closer to the Opening or Closing Auction are weighted more heavily. ETP Holders with an average daily 500,000 or more cancelled shares for each auction and a Weighted Ratio Shares Threshold of 25 or greater may be charged a fee calculated as the Weighted Ratio Shares Threshold (in dollars) multiplied by (Ratio Share Differential/100,000); the fee for an individual auction is capped at $500,000 per month (a $1,000,000 monthly cap across both auctions).
Elimination of RT‑Display Fee
If you are an ETP Holder that previously could be charged the Ratio Threshold Display Fee (RT‑Display Fee), the Exchange is removing that fee from its Fee Schedule and will no longer charge it. This change is effective August 29, 2025 and is intended to simplify the Fee Schedule.
One‑Month Exemption from RT‑Auction Fee
If you are an ETP Holder, the Exchange will not assess the RT‑Auction Fee for the first month you become subject to the fee in any rolling 12‑month period. This exemption is intended to protect firms that first encounter higher cancellation levels when new to the platform, deploying new technology, or testing strategies.
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: 2025-17727, Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Proposed Rule Change by The Options Clearing Corporation Concerning Certain Revisions in Connection With Proposed Modifications to the Manner in Which OCC Accounts for the Guaranty Substitution Payment in OCC's Liquidity Risk Management Processes
The Options Clearing Corporation (OCC) is updating how it handles a special cash payment called the Guaranty Substitution Payment (GSP) when a member defaults. This change helps OCC better manage its money and risks during tough times, especially in stress tests. The update affects clearing members and aims to keep the system safer without immediate cost changes, with the SEC now asking for public feedback.
Next: 2025-17729, Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of Proposed Rule Change To Establish a New Collateral-in-Lieu Offering Within the Sponsored GC Service, and Expand the Sponsored GC Service To Allow a Sponsoring Member To Submit for Clearing a “Done-Away” Sponsored GC Trade
The Fixed Income Clearing Corporation (FICC) is rolling out a new way for members to use collateral in their Sponsored GC Service and letting sponsoring members clear special "done-away" trades between other parties. This change helps more folks join in and makes clearing smoother, with no big cost changes announced yet. If you’re a member or work with one, get ready for these fresh options coming soon!