Federal Register #SR-NYSENAT-2026-21

SEC Review of NYSE National and NYSE American Fee Schedule Amendments for Connectivity and Options Trading

This opportunity concerns proposed changes to the connectivity and options fee schedules by NYSE National, Inc. and NYSE American LLC, as published by the Securities and Exchange Commission (SEC). - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors Mentioned: - NYSE National, Inc. - NYSE American LLC - Cboe Global Markets (including Cboe U.S. Equities Exchanges, Cboe Futures Exchange, Cboe Global Indices, Cboe Options) - Investors Exchange (IEX) - Products and Services Requested: - Connectivity services to third party data feeds, including: - Cboe U.S. Equities Exchanges Data Feed (monthly fee: $2,000) - Cboe Futures Exchange (CFE) Data Feed (monthly fee: $1,500) - Cboe Global Indices Feed (monthly fee: $1,500) - Cboe Options Data Feed (monthly fee: $1,500) - Investors Exchange (IEX) Equities Data Feed (monthly fee: $1,300) - Investors Exchange (IEX) Options Data Feed (monthly fee: $1,300) - Options trading fee schedule changes: - Increased fee for manual transactions by Market Makers in non-penny issues (from $0.50 to $1.00 per contract) - New rebate for Floor Broker orders trading with Market Maker orders on the Trading Floor ($0.20 per contract) - Unique or Notable Requirements: - The fee changes are intended to update and improve the structure for connectivity and trading on NYSE National and NYSE American platforms - The new connectivity fees apply to both existing and newly added data feeds (notably, the addition of IEX Options) - The options fee changes are designed to incentivize certain trading behaviors and improve market participation - No specific part numbers or purchase quantities are provided; all fees are recurring monthly charges or per-contract transaction fees

Description

The Securities and Exchange Commission has published a notice regarding the filing and immediate effectiveness of a proposed rule change by NYSE National, Inc. to amend its connectivity fee schedule. The proposed rule change involves changes to fees related to connectivity to third party data feeds, including the introduction of a new fee for connectivity to a proposed third party data feed. The Exchange asserts that the changes are reasonable, do not impose an undue burden on competition, and are subject to significant competitive forces. The notice invites public comments on the proposed rule change.

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