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.

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

$0.23/$0.25

$      0.30
Tier 2

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

$     (0.29)

$      0.30

$0.23/$0.25

$      0.30
Tier 3

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

$     (0.25)

$      0.30

$0.23/$0.25

$      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

$0.23/$0.25

$      0.30

  

 
Step-Up Tier 2 NYSE Arca Daily Adding as % of US CADV in excess of  0.12% over the Benchmark Month (4), subject to a minimum increase of 12 Million shares

$    (0.290)

$      0.30

$0.23/$0.25

$      0.30
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 0.45% 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
All Others   $     (0.21) $    0.30 $0.23/$0.27 $      0.30

 

 

  

Tape B
(NYSE Arca- and Amex-Listed)

Tier

 Tier Requirement(s)

Rebate for
Adding 3

Fee for Removing

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  0.12% over the Benchmark Month (4), subject to a minimum increase of 12 Million shares

 $    (0.220)

$    0.280

 $  0.0030
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 0.45% 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   $     (0.22) $     0.30 $     0.35

 

 

  

Tape C
(Nasdaq-Listed)

Tier

 Tier Requirement(s)

Rebate for Adding

Fee for Removing

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  0.12% over the Benchmark Month (4), subject to a minimum increase of 12 Million shares

 $       (0.290)

$      0.30

$      0.30
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 0.45% 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

All Others

  

$  (0.21)

$      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 and Tape B securities, a rebate of $0.0020 per share for orders providing liquidity and a fee of $0.0030 for orders taking liquidity in 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 $0.23 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.