NYSE American Tweaks Options Fee Collection Rules
Published Date: 3/27/2026
Notice
Summary
Starting soon, NYSE American will change how it charges the Options Regulatory Fee (ORF). Only options trades done on their exchange and cleared for customers will be charged this fee, matching what other exchanges do. This update affects traders using NYSE American and kicks in immediately, aiming for a fairer and clearer fee system.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 1 costs, 2 mixed.
ORF Charged Only for On‑Exchange Customer Trades
Starting July 1, 2026, NYSE American proposes to assess the Options Regulatory Fee (ORF) only on customer options transactions that are executed on NYSE American and cleared in the Customer range at The Options Clearing Corporation (OCC). Customer trades that occur on other exchanges would no longer be subject to an ORF assessed by NYSE American under this methodology.
Who Pays and How ORF Is Billed
Under the proposed method, OCC will collect ORF on behalf of NYSE American from clearing members (ATP Holders and non-ATP Holders) for all customer transactions executed on the Exchange. ORF billing will follow the clearing instructions provided on the execution, will account for same‑day CMTA adjustments provided to the Exchange, and will not take into account CMTA transfers that occur later at OCC.
Effective Date Depends on Industry Filings
The Exchange intends to implement the new ORF methodology effective July 1, 2026 only if all U.S. options exchanges charging an ORF file to adopt similar methodologies by April 1, 2026. If other exchanges have not filed by April 1, 2026, NYSE American will delay implementation and continue its current methodology until the industry transition is complete.
Current ORF Rate and Transition Notice
The ORF is currently set at $0.0026 per contract and the Exchange will continue to collect ORF under its current methodology until at least June 30, 2026. The Exchange will file a separate rule with the 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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Key Dates
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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.
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