NYSE Arca Equities Trading Fees

The NYSE Arca Equities Fee Schedule provides a full description of all fees and charges, including ETP, Regulatory, and Market Maker fees.

NYSE Arca’s pricing structure for taking and adding liquidity during exchange transactions is summarized in the table below. Please note: There is no charge for adding liquidity.

Go to:

NYSE Arca Rates Per 100 Shares
 

 

Tape A
(NYSE-Listed)

Tier

Tier Requirement(s)

Rebate for Adding1

Fee for Removing

Routing to NYSE2

Routing to Other Venues

Tier 1

NYSE Arca Daily Adding as of % of US CADV in excess of 0.70%, or > 0.15% and provide > 100k contracts ADV in electronic posted executions in Penny Pilot issues on NYSE Arca Options, with >25K ADV in Market Maker contracts
(excluding mini options).

$     (0.30)

$      0.30

$0.24/$0.26

$      0.30

Tier 2

NYSE Arca Daily Adding as of % of US CADV in excess of 0.30%

$     (0.29)

$      0.30

$0.24/$0.26

$      0.30

Tier 3

NYSE Arca Daily Adding as of % of US CADV in excess of 0.20%

$     (0.25)

$      0.30

$0.24/$0.26

$      0.30

Step-Up Tier 1 NYSE Arca Daily Adding as % of US CADV in excess of  0.20% over the Benchmark Month (4), subject to a minimum increase of 20 Million shares

$    (0.295)

$      0.30

$0.24/$0.26

$      0.30

 

 

Step-Up Tier 2 NYSE Arca Daily Adding as % of US CADV in excess of  0.10% over the Benchmark Month (4), subject to a minimum increase of 10 Million shares

$    (0.290)

$      0.30

$0.24/$0.26

$      0.30

Step-Up Tier 3 Provide ADV as % of US CADV in excess of  0.125% over the % CADV in the Benchmark Month (9), with provide ADV as % of US CADV in excess of  0.2% in the billing month. + $ (0.04)
additional
rebate
N/A N/A  
Investor
Tier 1
Provide ADV of at least 0.60% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $ (0.34) N/A N/A N/A
Investor
Tier 2
Provide ADV of at least 0.45% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $ (0.33) N/A N/A N/A
Investor
Tier 3
Provide ADV of at least 0.60% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 50% $     (0.32) N/A N/A N/A
Investor
Tier 4

Provide ADV of at least 0.30% but less than 0.45% of CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80%

$     (0.30) N/A N/A N/A
Cross
Asset
Tier
Provide ADV of at least 0.40% of US CADV, and  ADV of electronic posted Customer executions in Penny Pilot issues on NYSE Arca Options (excluding mini options) of at least 0.95% of total Customer equity and ETF option ADV as reported by OCC $ (0.30) N/A N/A N/A
Retail Order Tier Execute ADV of Retail Orders during the month that is 0.20% or more of the US CADV: $ (0.33) N/A N/A N/A
Retail Cross
Asset
Tier
Execute ADV of Retail Orders during the month that is 0.30% or more of the US CADV and ADV of electronic posted Customer executions in Penny Pilot issues on NYSE Arca Options (excluding mini options) of at least of at least 0.50% of total Customer equity and ETF option ADV as reported by OCC $ (0.34) N/A N/A N/A
Routing Liquidity Provider Tier  Provide ADV of at least 0.4% of US CADV, and 75% of  orders must be eligible to route, and  firm’s must increase provided volume by at least 40% above the Benchmark Month (5) $ (0.32) N/A N/A N/A
Routable Order Cross
Asset
Provide ADV of at least 0.4% of US CADV, 65% of  orders must be eligible to route, firm’s must increase provided volume by at  least 40% above the Benchmark Month (5) (8), and  ADV of manual executions on NYSE Arca Options (excluding mini options, qualified contingent cross orders, and strategy trades) of at least 1.5% of total Customer equity and ETF option ADV as reported by OCC
$     (0.32) N/A N/A N/A
All Others   $     (0.20) $    0.30 $0.24/$0.28 $      0.30

 

 

 

Tape B
(NYSE Arca- and MKT-Listed)

Tier

Tier Requirement(s)

Rebate for Adding3, 11

Fee for Removing 10

Routing to Other Venues

Tier 1

NYSE Arca Daily Adding as of % of US CADV in excess of 0.70%, or > 0.15% and provide > 100K contracts ADV in electronic posted executions in Penny Pilot issues on NYSE Arca Options, with >25K ADV in Market Maker contracts.

$     (0.23)

$     0.28

$     0.0030

Tier 2

NYSE Arca Daily Adding as of % of US CADV in excess of 0.30%

$     (0.22)

$     0.28

$     0.0030

Tier 3

NYSE Arca Daily Adding as of % of US CADV in excess of 0.20%

$     (0.22)

$     0.28

$     0.0030

Step-Up Tier 1 NYSE Arca Daily Adding as % of US CADV in excess of  0.20% over the Benchmark Month (4), subject to a minimum increase of 20 Million shares

  $    (0.230)

  $    0.280

              $  0.0030

Step-Up Tier 2 NYSE Arca Daily Adding as % of US CADV in excess of  0.10% over the Benchmark Month (4), subject to a minimum increase of 10 Million shares

 $    (0.220)

$    0.280

 $  0.0030

Step-Up Tier 3 Provide ADV as % of US CADV in excess of  0.125% over the % CADV in the Benchmark Month (9), with provide ADV as % of US CADV in excess of  0.2% in the billing month.  + $ (0.04)
additional
rebate
N/A N/A
Tape B Step Up Tier NYSE Arca Daily Adding as % of US CADV in excess of  0.275% over the % CADV in the Benchmark Month (6) (7) $ (0.04) N/A N/A
Investor
Tier 1
Provide ADV of at least 0.60% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $ (0.34) N/A N/A
Investor
Tier 2
Provide ADV of at least 0.45% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $    (0.33) N/A N/A
Investor
Tier 3
Provide ADV of at least 0.60% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 50% $    (0.32) N/A N/A
Investor
Tier 4
Provide ADV of at least 0.20% but less than 0.45% of CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $     (0.30) N/A N/A
Cross Asset Tier Provide ADV of at least 0.40% of US CADV, and  ADV of electronic posted Customer executions in Penny Pilot issues on NYSE Arca Options (excluding mini options)of at least 0.95% of total Customer equity and ETF option ADV as reported by OCC $ (0.30) N/A N/A
Retail Order Tier Execute ADV of Retail Orders during the month that is 0.20% or more of the US CADV: $ (0.33) N/A N/A
Retail Cross
Asset
Tier
Execute ADV of Retail Orders during the month that is 0.30% or more of the US CADV and ADV of electronic posted Customer executions in Penny Pilot issues on NYSE Arca Options (excluding mini options) of at least of at least 0.50% of total Customer equity and ETF option ADV as reported by OCC $ (0.34) N/A N/A
All Others   $     (0.20) $     0.30 $     0.35

 

 

 

Tape C
(Nasdaq-Listed)

Tier

Tier Requirement(s)

Rebate for Adding11

Fee for Removing 10

Routing to Other Venues

Tier 1

NYSE Arca Daily Adding as of % of US CADV in excess of 0.70%, or > 0.15% and provide > 100K contracts ADV in electronic posted executions in Penny Pilot issues on NYSE Arca Options, with > 25K ADV in Market Maker contracts.

$     (0.30)

$      0.30

$      0.30

Tier 2

NYSE Arca Daily Adding as of % of US CADV in excess of 0.30%

$     (0.29)

$      0.30

$      0.30

Tier 3 NYSE Arca Daily Adding as of % of US CADV in excess of 0.20% $     (0.25) $      0.30 $      0.30
Step-Up Tier 1 NYSE Arca Daily Adding as % of US CADV in excess of  0.20% over the Benchmark Month (4), subject to a minimum increase of 20 Million shares

 $       (0.295)

$      0.30

$      0.30

Step-Up Tier 2 NYSE Arca Daily Adding as % of US CADV in excess of  0.10% over the Benchmark Month (4), subject to a minimum increase of 10 Million shares

 $       (0.290)

$      0.30

$      0.30

Step-Up Tier 3 Provide ADV as % of US CADV in excess of  0.125% over the % CADV in the Benchmark Month (9), with provide ADV as % of US CADV in excess of  0.2% in the billing month. + $ (0.04)
additional
rebate
N/A N/A
Investor
Tier 1
Provide ADV of at least 0.60% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $ (0.34) N/A N/A
Investor
Tier 2
Provide ADV of at least 0.45% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $     (0.33) N/A N/A
Investor
Tier 3
Provide ADV of at least 0.60% of US CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 50% $     (0.32) N/A N/A
Investor
Tier 4
Provide ADV of at least 0.30% but less than 0.45% of CADV, a cancelled order to total order ratio of less than 30%, and liquidity adding to total ADV ratio of least 80% $     (0.30) N/A N/A
Cross Asset Tier Provide ADV of at least 0.40% of US CADV, and  ADV of electronic posted Customer executions in Penny Pilot issues on NYSE Arca Options (excluding mini options)of at least 0.95% of total Customer equity and ETF option ADV as reported by OCC $ (0.30) N/A N/A
Retail Order Tier Execute ADV of Retail Orders during the month that is 0.20% or more of the US CADV: $ (0.33) N/A N/A
Tape C Step Up Tier NYSE Arca Daily Adding in Tape C  in excess of  the greater of (i)  0.10% of US Tape C CADV over the Jan 2012 Benchmark Month or (ii) the Jan 2012 Benchmark Month plus 20%.4 N/A $0.29 N/A
Tape C Step Up Tier 2 Tape C Adding ADV 2 million shares in excess of Q2 2012 Tape C Adding ADV

+ $  (0.02) additional
rebate

N/A

N/A

Retail Cross
Asset
Tier
Execute ADV of Retail Orders during the month that is 0.30% or more of the US CADV and ADV of electronic posted Customer executions in Penny Pilot issues on NYSE Arca Options (excluding mini options) of at least of at least 0.50% of total Customer equity and ETF option ADV as reported by OCC $ (0.34) N/A N/A
Routing Liquidity Provider Tier  Provide ADV of at least 0.4% of US CADV, and 75% of  orders must be eligible to route, and  firm’s must increase provided volume by at least 40% above the Benchmark Month (5) (8) $  (0.32) N/A N/A
Routable Order Cross
Asset
Provide ADV of at least 0.4% of US CADV, 65% of  orders must be eligible to route, firm’s must increase provided volume by at  least 40% above the Benchmark Month (5) (8), and  ADV of manual executions on NYSE Arca Options (excluding mini options, qualified contingent cross orders, and strategy trades) of at least 1.5% of total Customer equity and ETF option ADV as reported by OCC $  (0.32) N/A N/A
All Others   $  (0.20) $      0.30 $      0.35

 

1. MPL orders will receive a rebate of $0.0015 per share for orders providing liquidity and a fee of $0.0030 for orders taking liquidity in Tape A, Tape B and Tape C securities. MPL is an undisplayed limit order that is priced at the mid-point of the Protected Best Bid and Offer (PBBO). MPL orders will generally interact with all order types including contra MPLs and excluding cross or directed orders. MPL orders will be entered as a limit order but are executable only at the mid-point of the NBBO. MPLs will not execute if the market is locked/crossed. MPLs have a minimum entry and execution size of 100 shares.

2. In Tape A securities, the routing fee to the NYSE using NYSE Arca’s Primary Sweep Order is $0.24 per 100 shares, otherwise the standard routing fee applies as noted in the table. The Primary Sweep Order (PSO) is a market or limit order that sweeps the NYSE Arca Book and routes any remaining balance to the primary listing market. All orders with a PSO designation should be marketable. Non-marketable orders will function as regular limit orders.

3. In Tape B securities, liquidity providers will receive a higher rebate while the sharing of 50% of Tape B market data revenue will be discontinued. Cross Orders will continue to receive tape revenue credit. Pricing is unchanged for Lead Market Makers.

4. Lower Tape Step Up take fees are subject to a cap for firms with a ratio of provide to total volume in the Jan 2012 Benchmark month of less than 30% as follows.  For Tape C, the cap will be equal to 1.10% of Tape C CADV and all take volume up to that amount will be charged the lower $0.29 take fee. All take volume above that amount will be charged the basic rate of $.30, unless the firm increases their provide volume over the benchmark month in an amount of at least 0.33% of that month’s Tape C CADV in which case the $0.29 rate will apply to all take volume.

5. A firm’s May 2013 providing volume is the baseline volume from which calculations for the Routing Liquidity Provider Tier in Tapes A and C will be made. 

6. A firm’s May 2013 Tape B Adding ADV will be used as a baseline for calculations regarding the Tape B Step Up Tier. 

7. Firms qualifying for the Tape B Step Up Tier are subject to the following limitations: 

Firms that qualify for the Investor Tier 1, Investor Tier 2, Investor Tier 3, Retail Order Tier, and Retail Order Cross-Asset Tier are also not eligible for the additional credits. Lead Market Maker (LMM) volume is not eligible for the additional credits and LMM volume is  not included in the calculations for the Tape B Step Up Tiers.

8. Firms that qualify for the Routable Order Tier will not be eligible for the Tape C Step Up Tier 2 credit of $0.0002 per share in that billing month or the Tape C Step Up Tier remove rate of $0.0029. 

9. A firm’s Dec 2013 Adding ADV  will be used as a baseline for calculations regarding the Step-Up Tier 3. The additional $.04 credit per 100 would be applied to the adding liquidity as a % of Tape A CADV in billing month less its % of Tape A CADV in the Baseline Month multiplied by Tape A CADV in the billing month, with the same formula applied to Tape C adding volume. Credits provided under Step Up Tier 3 would be in addition to the firm’s Tiered or Basic Rate credit(s); however, such combined credit would not be permitted to exceed $0.34 per 100 shares.

10. Retail Orders entered by RMOs will receive a rebate of $0.0005 per share for orders taking liquidity against RPI and MPL orders in Tape B and Tape C securities. Retail Orders that interact with any other orders beside RPI or MPL, will be charged according to applicable Tiered or Basic Rates.

11. RPI orders that provide liquidity against incoming RMO orders will be free in Tape B and Tape C.  RPI orders are undisplayed price improving orders that interact only with RMO order in the Retail Liquidity Program.