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).
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
2026-12163 — 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!
2026-12252 — Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the MIAX Pearl Options Exchange Fee Schedule To Establish Fees for the Trade-by-Trade Report
MIAX Pearl Options Exchange is adding new fees for their Trade-by-Trade Report starting now. Traders and firms who want this detailed report will pay a monthly subscription or a fee for one-time historical data requests, with discounts if they also buy related reports. This change helps the Exchange cover costs and keeps data access clear and fair.
2026-12259 — Self-Regulatory Organizations; Nasdaq Texas, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Exchange's Options Regulatory Fee (ORF)
Starting July 1, 2026, Nasdaq Texas is raising the fee traders pay when they trade options, called the Options Regulatory Fee (ORF). This change affects anyone trading options on Nasdaq Texas and updates how the fee is described to match other Nasdaq exchanges. The new fee kicks in right after the filing, so traders should get ready for a slightly higher cost soon!
Previous / Next Documents
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.