NYSE American Cuts Options Regulatory Fee for Traders
Published Date: 12/16/2025
Notice
Summary
Starting January 1, 2026, NYSE American is lowering the Options Regulatory Fee from $0.0038 to $0.0026 per contract, saving traders some cash. Even better, they’re waiving this fee entirely for December 2025, giving everyone a free pass for the whole month. This change affects anyone trading options on NYSE American and kicks in right away with the waiver and then the new lower fee next year.
Analyzed Economic Effects
4 provisions identified: 2 benefits, 0 costs, 2 mixed.
ORF Reduced to $0.0026 January 1, 2026
Starting January 1, 2026, the Exchange will lower the Options Regulatory Fee from $0.0038 per contract to $0.0026 per contract. The lower per-contract fee applies when the Exchange resumes assessing the ORF on January 1, 2026.
Planned ORF Reform Proposal in Q1 2026
The Exchange intends to file a proposed rule change by the first quarter of 2026 to consider moving to a model that would assess ORF only on transactions that occur on the Exchange. This is an announced plan to evaluate and possibly change how ORF is billed.
ORF Waived for December 2025
If you trade options on NYSE American, the Options Regulatory Fee (ORF) will be waived from December 1 through December 31, 2025. That means no ORF will be assessed for that month for transactions subject to the ORF.
Who Pays ORF and Pass-Throughs
The ORF is assessed on ATP Holders for options transactions that their firms clear through the OCC in the Customer range, and the OCC collects the ORF from ATP Holder clearing firms. Clearing firms can choose to pass all, part, or none of the ORF cost on to their customers (entering firms).
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Key Dates
Department and Agencies
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Previous: 2025-22856, Self-Regulatory Organizations; Texas Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Certain Changes to the Governing Documents of the Exchange and Its Parent Company
The Texas Stock Exchange and its parent company are updating their key governing documents to keep things running smoothly and clearly. These changes affect stockholders and the Exchange’s management, with no immediate cost impact. The updates took effect right after filing on December 8, 2025, making the Exchange’s rules fresher and more up-to-date.
Next: 2025-22858, Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Lower the Options Regulatory Fee (ORF)
Starting January 1, 2026, NYSE Arca is lowering the Options Regulatory Fee from $0.0038 to $0.0026 per contract, making trading a bit cheaper for options traders. Plus, they’re giving a free ride on this fee for all of December 2025! If you trade options on NYSE Arca, this means less fees and more savings right around the corner.