NYSE Arca Slashes Routing Fees for Options Traders Overnight
Published Date: 12/1/2025
Notice
Summary
NYSE Arca is changing its options trading fees starting November 24, 2025. These updates tweak prices and perks for firms and broker-dealers, and floor brokers won’t have to pay routing fees anymore. If you trade options on NYSE Arca, these changes could affect your costs right away!
Analyzed Economic Effects
5 provisions identified: 4 benefits, 0 costs, 1 mixed.
Bigger Penny-issue Posting Credit
NYSE Arca will increase the per-contract liquidity-adding credit for Firm and Broker-Dealer electronic executions in Penny Issues from ($0.10) to ($0.28), effective November 24, 2025. This change raises the payment Firms and Broker-Dealers receive when they add liquidity in Penny Issues.
Zero Fee for Non-Penny Liquidity Adds
NYSE Arca will remove the per-contract fee for Firm and Broker-Dealer electronic liquidity-adding executions in non-Penny Issues by reducing the fee from $0.50 to $0.00, effective November 24, 2025. Firms and Broker-Dealers will no longer be charged that $0.50 per contract fee for adding liquidity in non-Penny Issues.
Floor Brokers Exempt From Routing Fees
NYSE Arca will exempt Floor Brokers from Routing Fees that they might incur when routing orders away from the Exchange to honor away market interest, effective November 24, 2025. The Exchange says this exemption is intended to incentivize Floor Brokers to increase or maintain open outcry activity on the Trading Floor.
Penny Posting Tier Changes
The Exchange will modify Firm and Broker-Dealer Penny Posting Credit Tiers: it will align the Base credit to the increased per-contract credit and eliminate the existing Tier 1 (which currently required at least 0.15% of TCADV). The Exchange will also rename the existing Tier 2 as Tier 1, effective November 24, 2025.
Elimination of Incentive Program
NYSE Arca proposes to eliminate the Firm and Broker Incentive Program (the program that provided additional credits such as $0.03 or $0.05 for meeting thresholds like 0.30% ADV or 0.85% TCADV) effective November 24, 2025. The Exchange says it will remove this program because it considers the other credit/fee changes sufficient incentive.
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