NYSE Tweaks Options Rebate and Fee Cap Rules
Published Date: 6/18/2026
Notice
Summary
Starting June 1, 2026, NYSE American is tweaking its options fee schedule to rename and update the Manual Billable Rebate Program, now called the Manual Billable Program. This change affects floor brokers and firms by adjusting rebates and adding a new credit under the monthly fee cap, potentially saving them money. It’s a smart move to keep fees fair and incentives clear for traders using the exchange.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Manual Billable Program Rebate Change
Starting June 1, 2026, the Exchange renames the “Manual Billable Rebate Program” to the “Manual Billable Program” and replaces two additional rebates with a single additional rebate. Participants that execute combined manual billable and QCC billable contracts exceeding 5,000,000 by at least 100% are eligible for an additional rebate of $0.01 per two billable-side QCC contract, payable back to the first billable side; participants eligible for this additional rebate will also be eligible for a credit under the Firm Monthly Fee Cap.
Firm Monthly Fee Cap and Floor Broker Credit
Effective June 1, 2026, the Exchange caps Firm Manual transaction fees at $250,000 per month per Firm. Once a Firm reaches the $250,000 cap, an incremental service fee of $0.02 per contract applies for Firm Manual transactions, but Floor Brokers who reach the cap and qualify for the Manual Billable Program additional rebate can earn a credit on Strategy Execution volume at the Manual Billable Program rate (limited to $0.01 per billable side); Strategy Execution volume and Royalty Fees do not count toward the $250,000 cap.
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