Big Board Ditches Obscure Discounts to Streamline Trading Fees
Published Date: 5/13/2026
Notice
Summary
The New York Stock Exchange is changing its fee list by removing some rarely used discounts for adding displayed liquidity in certain stocks (called Tape A, B, and C securities). This means traders who used those discounts will see changes starting May 1, 2026. The update aims to simplify fees and keep things fair for everyone trading on the Exchange.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Removal of Adding Liquidity Credits
The NYSE will eliminate underutilized tiered credits for adding displayed liquidity in Tape A, B, and C securities effective May 1, 2026. This removes the Step Up 4 $0.0015 credit and the Step Up 5 incremental credits of $0.0001 or $0.0002 in Tape A, and the $0.0029 credit for certain Tape B and C qualifications, so member organizations that previously qualified will no longer receive those per-share credits.
Price List Simplification and Transparency
The NYSE says deleting these underutilized credits will make its Price List clearer and more transparent and that the change would apply equally to all member organizations. The Exchange states this change is intended to make the Price List more accessible and protect investors and the public interest.
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