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NYSE Floor Trader

NYSE Options Markets

The NYSE operates two options markets: NYSE American Options and NYSE Arca Options. NYSE options markets have been in business for over 45 years, continuously evolving to meet client needs. NYSE American Options and NYSE Arca Options markets offer differing pricing and allocation models, and each operates active trading floors which connect technology and human judgement.

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NYSE Trading Floor

NYSE American Options


  • Pro-rata allocation encourages deep, liquid markets
  • Customer orders have priority and pay no fees
  • Specialist and/or e-Specialist in most classes
  • Allocation entitlement for Directed Market Makers and Specialist pool
  • Functionality offered includes Price Improvement Auction (CUBE), Step-Up Mechanism (BOLD) and Complex Order Book (Multi-leg), Complex Order Auction (COA), Repricing Orders and Quotes
  • Active trading floor in New York
NYSE Trading Floor

NYSE Arca Options


  • Price-time priority encourages tight markets
  • Make-take pricing incents aggressive quoting and non-marketable retail orders
  • Allocation entitlement for LMMs
  • Functionality offered includes Complex Order Book (Multi-leg), Complex Order Auction (COA), Repricing Orders and Quotes
  • Active trading floor in San Francisco

Both markets are part of a dual market structure that is powered by the NYSE Pillar technology platform. This integrated system allows member firms to access all NYSE equities and options markets through a single, standardized connection. NYSE Pillar delivers high-performance trading with enhanced speed, reliability, and functionality, along with advanced risk management tools designed to meet the evolving needs of today’s traders.

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