NYSE Arca Lowers Fees for Penny Stock Options Traders
Published Date: 12/10/2025
Notice
Summary
Starting December 1, 2025, NYSE Arca is shaking up its options fees! Firms and broker-dealers trading penny stocks get a fresh new pricing tier, and market makers get extra rewards for adding liquidity in popular options like the iShares Russell 2000 ETF. These changes aim to make trading smoother and more cost-effective for the folks who keep the market buzzing.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
New Penny-Issue Firm/Broker Tier
Starting December 1, 2025, NYSE Arca adds a new pricing tier for Firm and Broker-Dealer posted interest in Penny Issues. OTP Holders that execute at least 0.20% of Total Customer Average Daily Volume (TCADV) from Firm and Broker-Dealer posted interest in all issues would receive a credit of $0.32 per contract; affiliates may aggregate volume to qualify.
Market-Maker Incentive for IWM/QQQ/SPY
Effective December 1, 2025, NYSE Arca will pay Market Makers who post interest in IWM, QQQ, and SPY at least 0.90% of the total combined IWM, QQQ, and SPY industry average daily volume (ADV) in a calendar month. Such Market Makers would receive a $0.36 per contract credit for executions against posted interest in IWM and QQQ, and a $0.45 per contract credit for executions against posted interest in SPY.
Highest Applicable Credit Applies
The Exchange states that a Market Maker eligible for more than one posting credit will receive the highest rebate applicable to a transaction. For example, if eligible for a $0.40 credit under one tier and a $0.45 credit under another, the Market Maker would receive the $0.45 credit.
Your PRIA Score
Personalized for You
How does this regulation affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this federal register document and every other regulation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
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!
2026-11810 — Self-Regulatory Organizations; Cboe EDGX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGX Exchange just rolled out a new Clock Service that helps users sync their time systems perfectly with the Exchange. Starting May 18, 2026, they’re charging fees for this service but also offering a free trial to get everyone on board. This affects both members and non-members who want precise timing for their trading activities.
2026-11812 — Self-Regulatory Organizations; Cboe EDGA Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe EDGA Exchange just rolled out a new Clock Service to help traders sync their time systems perfectly. Starting May 18, 2026, users can try it for free, but after that, there will be fees for using this handy tool. This change affects anyone who wants precise timing for trading and keeps things running smoothly.
2026-11809 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Fees for Its New Clock Service
Cboe BZX Exchange just rolled out a new Clock Service that helps users sync their time systems with the Exchange’s for better accuracy. Starting May 18, 2026, they’re charging fees for this service but offering a free trial to get everyone started. This affects both members and non-members who want precise timing for their trading activities.
Previous / Next Documents
Previous: 2025-22384 — Self-Regulatory Organizations; NYSE National, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Rule 7.5 To Reflect the Definition of Round Lot Under Regulation NMS
NYSE National just updated its rules to match a new government definition of a 'round lot'—basically, the standard number of shares you trade at once. This change affects traders using NYSE National and kicks in immediately, making sure everyone’s on the same page with the latest rules. No extra costs, just smoother trading starting now!
Next: 2025-22386 — Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; West Coast Fisheries Participation Survey
NOAA is updating its West Coast Fisheries Participation Survey to make it quicker and easier by removing a question about underserved groups and adding multiple-choice answers. This affects fishermen and others involved in West Coast fisheries, helping NOAA better understand who’s participating and improve future decisions. Comments on these changes are open until February 9, 2026, with no new costs involved.