NYSE National — a fully electronic market that combines the high performance of NYSE Pillar technology with a “taker/maker” fee schedule — aims to deliver greater choice to investors. With the highest exchange rebates available for removing liquidity, NYSE National is an attractive trading venue for investors using fee-sensitive strategies to take liquidity or for passive traders seeking to minimize their time-to-fill.
NYSE National uses the same order entry/market data protocols and order types as NYSE Arca, allowing for easy adoption by the trading community. Additionally, it offers an aggressive introductory fee schedule to encourage participation, including free membership and proprietary market data.
Tracing its history back to 1885 to when it was the Cincinnati Stock Exchange, it later became the world’s first stock exchange to become a fully automated, screen-based trading system in 1985. It is fitting that in its new life as NYSE National that it operates on the NYSE’s state-of-the-art trading system, NYSE Pillar.