NYSE American Boosts Broker Credits While Axing Old Trading Incentives
Published Date: 4/3/2026
Notice
Summary
Starting March 18, 2026, NYSE American is shaking up its options trading fees by dropping some old incentives and raising the cap on credits floor brokers can earn from certain trades. This means floor brokers and traders using the Manual Billable Program could see bigger rewards, while some previous discounts are going away. If you trade options on NYSE American, these changes could affect your costs and earnings right away!
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Higher Monthly Cap for Floor Broker Credits
Starting March 18, 2026, the monthly cap on combined Floor Broker credits for QCC trades and rebates paid through the Manual Billable Rebate Program increases from $4,000,000 to $5,500,000 per month per Floor Broker firm. The Exchange says this change is intended to encourage Floor Brokers to send more order flow to NYSE American and to increase liquidity for market participants.
Removal of FB AON CUBE Rebate
Effective March 18, 2026, NYSE American will eliminate the FB AON CUBE Rebate, which currently provides a $0.12 credit per contract for the first 5,000 contracts of an AON Single CUBE order or the first 1,000 contracts per leg of an AON Complex CUBE order. Only Floor Brokers that execute a minimum of 2,500 contracts ADV in AON CUBE Orders are eligible for that rebate; the rebate will no longer be available to any Floor Broker.
Removal of ATP Electronic $0.10 Rebate
Effective March 18, 2026, NYSE American will eliminate the ATP Electronic rebate that provides a $0.10 per-contract Customer Credit on Customer Electronic Simple and Complex executions (excluding CUBE Auctions, QCC Transactions, and routed volume) for ATP Holders that meet specified monthly qualification levels. The qualification levels referenced include (a) 5,000 contracts ADV from Initiating CUBE Orders in Complex CUBE Auctions, (b) Customer Electronic executions equal to 0.03% of TCADV (with exclusions), and (c) Professional Electronic executions equal to 0.02% of TCADV (with exclusions).
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Key Dates
Department and Agencies
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