The Intercontinental Exchange

Markets
NYSE American

Drawing on its heritage as the American Stock Exchange, NYSE American is an exchange designed for growing companies, and offers investors greater choice in how they trade.

NYSE American is a competitively priced venue that blends unique features derived from the NYSE, such as electronic Designated Market Makers (e-DMMs) with quoting obligations for each NYSE American-listed company, with NYSE Arca’s fully electronic price/time priority execution model.

NYSE American also delivers advanced functionality, such as an intentional delay mechanism, which is intended to encourage midpoint trading strategies, and discretionary pegged orders, which provide investors with an additional way to patiently enter and exit positions while limiting adverse selection.

NYSE American Fact Sheet

Find out new features offered by this enhanced market for small to mid-cap companies.

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Q&A on NYSE American – What Changed?

Hear COO Stacey Cunningham briefly break down what really changed

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NYSE American Offers:

  • Dedicated e-DMMs with quoting obligations in NYSE American-listed securities to enhance price discovery and liquidity
  • Trading in all 8,000+ NMS securities in a fully electronic manner, including electronic auctions in NYSE American-listed securities
  • An intentional 350 microsecond delay on all orders, proprietary data feeds and outbound routing to allow resting pegged orders to re-price before new incoming orders arrive
    • Trades and quotes, however, will be reported to the Securities Information Processor (SIP) without an added delay
  • Discretionary pegged orders, which peg to the near side of the protected best bid and offer (PBBO), i.e., buys peg to the bid and sells peg to the offer. The order will automatically adjust as the PBBO changes, and has discretion to trade up to the midpoint of the PBBO under stable quote conditions.
  • Full depth of book market data providing valuable transparency

Transaction Fees

  • Free for orders adding displayed liquidity
  • $0.0002 for orders adding non-displayed liquidity
  • $0.0002 for orders taking liquidity
  • $0.0005 for opening and closing auctions

Other Fees

  • Membership: Free
  • Order entry sessions: $250/month (waived until October 1, 2017)
  • Market Data Products

NYSE American Market Quality

* Calculated using Enhanced Quoted Spread (EQS). EQS methodology is described here..

Source: NYSE Internal Database and Consolidated Tape Statistics, March 31, 2019

Data includes top 10 exchanges in all categories.

Includes NYSE American Listed Securities only.

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NYSE American Resources

NYSE American Technical Documents

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NYSE American Data Insights

Top Midpoint Opportunities

NYSE American has resting midpoint liquidity in a broad cross-section of the market. Many of our most active stocks are not among the market’s most active, creating unique liquidity opportunities for dark routers checking NYSE American at midpoint.


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Stocks Seeking Liquidity

As a new market NYSE American offers liquidity providers opportunities to rest at midpoint or the near side with relatively less competition. We see many Immediate-Or-Cancel (IOC) orders checking NYSE American and not receiving full fills, offering a low-cost route to better inter-market queue position.

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