NYSE Euronext has changed its transaction pricing for NYSE Arca Equities and NYSE Arca Options. The exchange claims that the changes for NYSE Arca Equities enable it to deliver the most competitive rates, including the highest rebate and lowest take fee, among major US equity markets for trading all NYSE-listed (Tape A) and Nasdaq-listed (Tape C) securities.
NYSE Arca Options will reduce the liquidity take rate for all market participants in penny pilot issues and will provide a higher rebate for active liquidity providers. The new NYSE Arca fee schedules, which have been filed with the US Securities and Exchange Commission (SEC), will be effective from 1 April 2008.
“We believe our new pricing will benefit customers, strengthen our position in the new competitive landscape, and further fuel our growth as the marketplace continues to evolve,” said Lawrence Leibowitz, group executive vice president, US execution and global technology at NYSE, in a statement.
In Nasdaq-listed (Tape C) securities (including ETFs), NYSE says the new NYSE Arca equities fee schedule provides for increased rebates, decreased take fees and reduced routing fees for large liquidity providers based on monthly average daily share volumes.
For NYSE-listed (Tape A) securities, the new NYSE Arca equities fee schedule introduces an increased rebate of $0.0028 per share for orders that provide liquidity if the liquidity provider transacts an average daily share of providing volume per month greater than 30 million on NYSE Arca.
Pricing remains unchanged on the New York Stock Exchange (NYSE) in NYSE-listed securities (Tape A) and for trading in all Tape B securities (including ETFs). NYSE claims it continues to offer the most attractive take fee in NYSE-listed securities of $0.0008 per share for all customers.
NYSE Arca Options will modify the post/take fee structure for electronic executions in all penny pilot issues, which NYSE says effectively lowers the take fee for all customers as well as providing a higher market maker rebate on incremental volume above certain liquidity provision levels.
NYSE Arca Options will provide additional incentives to NYSE Arca market makers for posting immediate or ultimately executed liquidity. Market makers that achieve specific thresholds for posted, executed volume in penny pilot issues will receive additional credits.