NYSE Arca Options Fees

 

NYSE Arca Options Rate Highlights (as of July 31, 2008)

One Time Costs Market Maker Testing and Orientation

$1000
Monthly OTP Costs Market Maker

$4,000
Transaction Costs Type

Per Contract Rate 1

Post
Liquidity 2

Take Liquidity 2
LMM 3
$.09
-$.30
$.45
NYSE Arca Market Maker

$.16
-$.30
$.45
Broker Dealer & Firm Electronic

$.50
-$.25
$.45
Broker Dealer & Firm Manual

$.26
N/A
N/A
Customer Electronic

$.00
-$.25
$.45
Customer Manual
$.00
N/A
N/A
Firm Facilitation4

$.15
N/A
N/A
Market Maker Post Liquidity Incentive Credit

> 1,000,000 posted contracts, executed per month -$0.01

> 5,000,000 posted contracts, executed per month -$0.05
Lead Market Maker Rights Monthly fee based upon the average national daily customer volume for each of the issues in the LMM primary.  The fee ranges from $150 (low volume issues) to $3,000 (high volume issues).
Royalty Fees5 Issue

Per Contract Rate
BKX

$.10
RUT

$.15
Market Maker Marketing Charges

$0.65 per contract side on transactions of Lead Market Makers and Market Makers against all public customer orders. Marketing Charges will not be assessed on transactions in Penny Pilot issues.

 

1 Standard Executions include all executions in non-Penny Pilot issues and all manual executions in Penny Pilot issues.

2 For Electronic Executions in Penny Pilot issues, Post Liquidity Fees are credited, Take Liquidity Fees are charged. Transaction fees do not apply to executions occurring during the Opening Auction in Penny Pilot issues. Penny Pilot issues trade as part of a pilot program through September 27, 2007.

3 The Exchange will rebate this fee for NYSE Arca Options executions that result from principal acting as agent orders sent and executed at away market centers.  In addition to the fore mentioned rebate, the Exchange will credit Market Makers $0.26 per contract for executions that result from principal acting as agent orders sent and executed at away market centers.  The rebate and credit will be based on the aggregate market maker transaction charge calculated at month-end. Market Makers shall reimburse the Exchange for all credits received in excess of the total actual costs associated with sending principal acting as agent orders to away market centers.

4 The Firm Facilitation fee applies to any transaction involving a firm proprietary trading account, that has a customer of that same Firm on the contra side of the transaction. This fee is capped at $50,000 per month per facilitating firm as part of a pilot program through December 31, 2007. Prior to participating in the pilot program, OTP Firms must enroll with the Exchange and identify the clearing and firm symbols of the non-OTP Firm whose facilitation trades will be eligible for this fee.

5 These fees will not be assessed on the customer side of transactions. Royalty Fees apply to Linkage Orders except for Satisfaction Orders. Please refer to “Limit of Fees on Options Strategy Executions” section of this schedule for information regarding Royalty Fees associated with Options Strategy Executions.
Related Information
 
pdf    Full Options Fee Schedule (pdf)