NYSE Arca Updates Its Options Trading Fee System
Published Date: 3/27/2026
Notice
Summary
NYSE Arca is changing how it charges the Options Regulatory Fee (ORF). Starting after June 30, 2026, they’ll only charge fees on options trades done on their exchange and cleared in the Customer range at the Options Clearing Corporation. This update matches what other options exchanges are doing and could affect traders’ costs.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 0 costs, 4 mixed.
ORF charged only on on-exchange customer trades
Starting July 1, 2026, NYSE Arca proposes to assess the Options Regulatory Fee (ORF) only on options transactions that are executed on NYSE Arca and cleared in the Customer range at the Options Clearing Corporation (OCC). Under the proposed method, OCC would collect ORF on behalf of the Exchange from OTP Holders and non-OTP Holders for Customer transactions executed on the Exchange.
Implementation tied to other exchanges’ filings
The Exchange intends to implement the new ORF methodology on July 1, 2026, provided all U.S. options exchanges charging an ORF have filed to adopt similar methodologies by April 1, 2026. If other exchanges have not filed by April 1, 2026, or if unresolved operational issues remain, NYSE Arca will delay implementation and continue collecting ORF under its current methodology until the new method can be implemented.
How clearing instructions and CMTA adjustments count
Under the proposed method, NYSE Arca would bill ORF based on the clearing instruction provided on the execution trade date and would not take into account CMTA transfers or adjustments that occur later at the OCC; adjustments made the same day as the trade on the Exchange would be taken into account. The Exchange also states OCC will collect ORF from clearing members on its behalf and that it will continue to monitor ORF collections against ORF Costs.
Current ORF rate and future rate notice
The ORF is currently set at $0.0026 per contract. The Exchange will file a separate rule filing with any ORF rate that would take effect on July 1, 2026 and will provide at least 30 days' advance notice of the applicable rate by Trader Update.
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