Absent the proposed change, participating Floor Brokers—whose operations were disrupted by the unanticipated Floor closure and now partial reopening—could experience an unintended increase in the cost of trading on the Exchange, a result that is unintended and undesirable to the Exchange and its Floor Brokers trading QCCs. Submitting your application, and 4. Federal Register issue. legal research should verify their results against an official edition of Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. January 6, 2021. Complex CUBE Order Fee Non-Customer – All issues $0.20 Complex Contra Order Fee – Penny Pilot issues $0.05 Complex Contra Order Fee – Non-Penny Pilot issues $0.07 On CNBC's "Options Action," Tony Zhang suggested a bullish options strategy in General Motors Company (NYSE: GM).He sees the stock as a play for … 7 ***** G. CUBE Auction Fees & Credits. regulatory information on FederalRegister.gov with the objective of NYSE American Options is part of a dual market structure that combines access to American and Arca options through a single integrated technology platform. the current document as it appeared on Public Inspection on Strategy Execution Fee Cap. of the issuing agency. Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change Modifying the NYSE American Options Fee Schedule The proposed change is available on the Exchange's website at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. Self-Regulatory Organizations; NYSE American, LLC; Notice of Withdrawal of Proposed Rule Change To Amend the NYSE American Options Fee Schedule To Modify the Options Regulatory Fee. on Based on OCC data, see id., the Exchange's market share in equity-based options declined from 9.82% for the month of January 2019 to 8.08% for the month of January 2020. Options involve risk and are not suitable for all investors. However, Exchange also believes the proposed change is necessary to prevent Floor Brokers from diverting QCC order flow from the Exchange if and when they hit the FB QCC Cap, particularly those Floor Brokers whose operations continue to be disrupted as the Trading Floor has only opened in a limited capacity due to COVID-19 considerations. 15. You should submit only information that you wish to make available publicly. 51808 (June 9, 2005), 70 FR 37496, 37499 (June 29, 2005) (S7-10-04) (“Reg NMS Adopting Release”). The proposed change is available on the Exchange's website at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference … NYSE Arca Options. on The Exchange believes that the proposed changes would encourage the continued participation of affected ATP Holders, thereby promoting market depth, price discovery and transparency and enhancing order execution opportunities for all market participants. This report provides month-to-date figures related to a TPH’s tier satisfaction impacting C1 billing. NYSE AMERICAN OPTIONS FEE SCHEDULE* *NYSE American Options is the options trading facility of NYSE American LLC . The Public Inspection page may also [FR Doc. This represents an increase of approximately 1,882% compared to the average daily volume of 67 call options. See Fee Schedule, Section I.F., QCC Fees & Credits. We invite you to try out our new beta eCFR site at https://ecfr.federalregister.gov. documents in the last year, 312 documents in the last year, 1477 h�b```����r� ���o���τg0.k�(�!��ׂc/K�N�� ��:�r*�WD�vT�3*�J���!�Q��+���UN�^V)dVe��i:D*�BȬ�����A�������b��h`62�\� ��@�@�����@�e@����(Hs1X�� ���+�ٟ1��=0�9����N��*���/@������ i>�x(�10W&@U� f;K� Offering an anonymous, flat, open market structure. The President of the United States communicates information on holidays, commemorations, special observances, trade, and policy through Proclamations. The Exchange believes it is not unfairly discriminatory to extend the modification of the Strategy Cap through June because the proposed change would be available to all similarly-situated market participants on an equal and non-discriminatory basis. Absent this change, such participants may experience an unexpected increase in the cost of doing business on the Exchange. The Exchange believes that extending the increase in the FB QCC Cap through June would provide Floor Brokers with greater certainty as to their monthly costs and diminish the likelihood of an effective increase in the cost of trading. Floor Access Fee. The Exchange proposes to implement the fee … NYSE AMERICAN OPTIONS FEE SCHEDULE* *NYSE American Options is the options trading facility of NYSE American LLC Effective as of January 2, 2020 Table of Contents Preface I. If you are using public inspection listings for legal research, you Monthly Trading Permit, Rights, Floor Access and Premium Product Fees A.- D. No change. While every effort has been made to ensure that Rates for [Standard] Options transactions – Electronic and Manual B. . [10] The President of the United States manages the operations of the Executive branch of Government through Executive orders. documents in the last year, 72 The documents posted on this site are XML renditions of published Federal A trader bought 501 contract(s) at a $12.00 strike. All comments received will be posted without change. on FederalRegister.gov The proposed change would also facilitate fair and orderly markets by attempting to avoid an unintended increase in the cost of Floor Brokers' QCC trading on the Exchange, given that the Floor has only reopened on a partial basis due to COVID-19 considerations. The proposed change is available on the Exchange’s website at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. More specifically, in January 2020, the Exchange had less than 10% market share of executed volume of multiply-listed equity & ETF options trades.[18]. • For F (NYSE:F), we notice a call option sweep that happens to be neutral, expiring in 423 day(s) on January 21, 2022. Combining the high performance of NYSE Pillar technology with a taker/maker fee schedule. Federal Register provide legal notice to the public and judicial notice Options Transaction Fees and Credits7 ***** J. The Exchange proposes to modify the NYSE American Options Fee Schedule (``Fee Schedule''). Use the PDF linked in the document sidebar for the official electronic format. No written comments were solicited or received with respect to the proposed rule change. documents in the last year, 355 10. See Securities Exchange Act Release No. 7. The Exchange proposes to implement the fee change effective March 10, 2020. 18. NYSE American, (formerly NYSE MKT, and formerly NYSE Amex) is a U.S. cash equities market for listing and trading small-cap and mid-cap growth companies. establishing the XML-based Federal Register as an ACFR-sanctioned and Rule 19b-4 thereunder,[3] Options Transaction Fees and Credits. that agencies use to create their documents. [8]7. NYSE Securities with Remote DMM. The Exchange believes that the proposal is not unfairly discriminatory because the proposed continuation of the fee waiver would affect all similarly-situated market participants on an equal and non-discriminatory basis. include documents scheduled for later issues, at the request are not part of the published document itself. Options Transaction Fees & Credits A.Rates for Options transactions – Electronic and Manual B.Reserved C.NYSE American Options Market Maker Sliding Scale – Electronic This proposed extension of the increase to the FB QCC Cap through June is reasonable, equitable, and not unfairly discriminatory because it would allow Exchange incentives to operate as intended and continue encourage QCC volume, which saw an uptick in volume on the Exchange following the temporary closure of the Trading Floor. documents in the last year, 1008 More information and documentation can be found in our documents in the last year, by the Civil Rights Commission The company has a market cap of $867.62 million, a PE ratio of -27.53 and a beta of 1.78. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[22]. Until the ACFR grants it official status, the XML For the full NYSE listing manual, please click here. ** U.S. Equity Select + SIP Bundle includes the following market data products: UQDF/UTDF/OMDF, CQS/CTS, Nasdaq TotalView, Nasdaq BX TotalView, Nasdaq PSX TotalView, NYSE OpenBook Ultra, NYSE ArcaBook, NYSE American OpenBook Ultra, and BBDS/TDDS. documents in the last year, 9 The Public Inspection page NYSE Arca Options. Fee codes applicable to orders routed to NYSE Arca will be applied to orders routed to the NYSE or NYSE American where, pursuant to NYSE and NYSE American Rule 49, the NYSE or NYSE American have designated NYSE Arca as their backup facility to receive and process bids and offers and to execute orders on behalf of the NYSE or NYSE American. of the Securities Exchange Act of 1934 (the “Act”) [2] Table of Contents . Access to live, executable, transparent prices. Offering traders deep liquidity across listed option contracts. To apply, please visit the NYSE Get Started Page. rendition of the daily Federal Register on FederalRegister.gov does not The Exchange proposes to modify the NYSE American Options Fee Schedule (“Fee Schedule”) to extend through June 2020 certain fee changes implemented for April and May 2020. Document Details. • For WBT (NYSE:WBT), we notice a call option trade that happens to be bullish, expiring in 305 day(s) on September 17, 2021. These can be useful However, the Exchange believes the proposed change is necessary to prevent Floor Brokers from diverting QCC order flow from the Exchange if and when they hit the Cap, particularly those Floor Brokers whose operations may continue to be disrupted as the Floor has only partially reopened. Be sure to leave feedback using the 'Feedback' button on the bottom right of each page! Reserving your ticker symbol, 3. the material on FederalRegister.gov is accurately displayed, consistent with Second, the Exchange proposes to extend through June 2020 the increase in the maximum allowable Floor Broker credit, which is typically $425,000 up to $625,000 per month per Floor Broker (the “FB QCC Cap”). Access to live, executable, transparent prices. In reducing this monthly financial burden, the proposed change would allow affected participants to reallocate funds to assist with the cost of shifting and maintaining their prior fully-staffed on-Floor operations to off-Floor (and now staffing back on-Floor) and recoup losses as a result of the unanticipated Floor closure and partial reopening. 0 The Exchange proposes to implement the fee change effective June 5, 2020. NYSE AMERICAN OPTIONS FEE SCHEDULE* *NYSE American Options is the options trading facility of NYSE American LLC . This feature is not available for this document. With the temporary closure of the Trading Floor, which continued longer than anticipated, Floor Brokers were unable to execute RevCons in open outcry. A Notice by the Securities and Exchange Commission on 09/02/2020. The proposed continuation of the April and May 2020 fee changes through June 2020 are designed to reduce monthly costs for Floor participants whose operations continue to be disrupted, despite the fact that the Trading Floor has partially reopened, as well as to avoid an unintended increase in trading costs given that the Floor has only reopened in a limited capacity. documents in the last year, 27 NYSE Arca: A securities exchange in the U.S. on which stocks and options are traded. See proposed Fee Schedule, Section I.F., QCC Fees & Credits, n. 1 (setting forth available credits to Floor Brokers and providing that “[t]he maximum Floor Broker credit paid shall not exceed $425,000 per month per Floor Broker firm (the “Cap”), except that for the months of April, May and June 2020, the Cap would be $625,000 per Floor Broker firm”). NYSE AMERICAN OPTIONS FEE SCHEDULE* *NYSE American Options is the options trading facility of NYSE American LLC . Accordingly, competitive forces constrain options exchange transaction fees. [17] To the extent that the proposed change attracts more Strategy Executions to the Exchange, this increased order flow would continue to make the Exchange a more competitive venue for order execution. %%EOF See proposed Fee Schedule, Sections I.J., Strategy Execution Fee Cap (including RevCon QCCs in the Strategy Cap during April, May and June 2020) and Section I.F., QCC Fees & Credits, n. 1 (providing that “[the Floor Broker credit will not apply to any QCC trades that qualify for the Strategy Cap during the months of April, May and June 2020 (per Section I.J.)”). NYSE American Options . The Exchange believes it is not unfairly discriminatory to modify the maximum allowable credit on QCC transactions to Floor Brokers because the proposed modification would be available to all similarly-situated market participants (i.e., Floor Brokers) on an equal and non-discriminatory basis. We would like to show you a description here but the site won’t allow us. Offering traders deep liquidity across listed option contracts. The Exchange believes that all ATP Holders that conduct business on the Trading Floor would benefit from this proposed fee change. documents in the last year, 785 Combining the high performance of NYSE Pillar technology with a taker/maker fee schedule. documents in the last year, 104 Therefore, currently no exchange possesses significant pricing power in the execution of multiply-listed equity & ETF options order flow. 16. Stock investors purchased 9,475 call options on the company. endstream endobj 1402 0 obj <. See proposed Fee Schedule, Section III.B, Monthly Trading Permit, Rights, Floor Access and Premium Product Fees, and IV. Includes US corporate bonds and US-Treasuries. The Exchange proposes to implement the fee change effective May 28, 2020. Document Drafting Handbook The Exchange cannot predict with certainty whether any Floor Brokers would benefit from this proposed fee change. Only official editions of the documents in the last year, 232 The Exchange believes that all ATP Holders that conduct business on the Trading Floor would benefit from this proposed fee change. Information about this document as published in the Federal Register. The Exchange believes that the proposed increase to the Cap for June when the Trading Floor is open, but only in a limited capacity, would provide Floor Brokers with greater certainty as to their monthly costs and diminish the likelihood of an effective increase in the cost of trading. Shares of NYSE:TPC opened at $17.07 on Friday. The Commission has repeatedly expressed its preference for competition over regulatory intervention in determining prices, products, and services in the securities markets. The purpose of this filing is to modify the Fee Schedule to extend through June 2020 certain fee changes implemented for April and May 2020, as described below. Must subscribe to NYSE (Network A/CTA), NYSE American, BATS, ARCA, IEX and Regional Exchanges (Network B) and NASDAQ (Network C/UTP) data. First, the Exchange proposes to extend through June 2020 the waiver of the following Floor-based fix fees, which relate directly to Floor operations, are charged only to Floor participants and do not apply to participants that conduct business off-Floor: This proposed extension of the fee waiver would reduce monthly costs for Floor participants whose operations continue to be disrupted, despite the fact that the Trading Floor has partially reopened. $125 per month for all registered Floor personnel that do not pay Monthly ATP Fees. This site displays a prototype of a “Web 2.0” version of the daily In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. on Each document posted on the site includes a link to the Therefore, currently no exchange possesses significant pricing power in the execution of multiply-listed equity & ETF options order flow. Although the Floor has reopened with limited capacity due to COVID-19 considerations, the Exchange believes the proposed inclusion of RevCon QCCs in the Strategy Cap, which is available to all ATP Holders, would encourage ATP Holders (including those acting as Floor Brokers) to execute their RevCon QCC volume on the Exchange, particularly given that the Floor has reopened only in a limited capacity, and to continue to increase the number of such RevCon QCC transactions during the month of June. A trader bought 1000 contract(s) at a $12.50 strike. All submissions should refer to File Number SR-NYSEAMER-2020-44, and should be submitted on or before July 8, 2020. Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090. II. Trade Our Options & Bonds Markets. The Exchange believes the proposed rule change is an equitable allocation of its fees and credits as it merely continues the fee waiver granted in April and May 2020, which impacts fees charged only to Floor participants whose operations continue to be disrupted by the partial reopening of the Floor and do not apply to participants that conduct business off-Floor. E. [Floor Broker Programs 1.] A Notice by the Securities and Exchange Commission on 05/14/2020. in general, and furthers the objectives of Sections 6(b)(4) and (5) of the Act,[12] Absent this change, such participants may experience an unexpected increase in the cost of doing business on the Exchange. The NYSE Amex Composite Index is a market capitalization-weighted index, so … Stated otherwise, changes to exchange transaction fees and credits can have a direct effect on the ability of an exchange to compete for order flow. NYSE American, formerly known as the American Stock Exchange (AMEX), and more recently as NYSE MKT, is an American stock exchange situated in New York City.AMEX was previously a mutual organization, owned by its members.Until 1953, it was known as the New York Curb Exchange.. NYSE Euronext acquired AMEX on October 1, 2008, with AMEX integrated with the Alternext European small … The proposed change would incent Floor Brokers to attract increased QCC order flow to the Exchange that might otherwise go to other options exchanges. 88595 (April 8, 2020), 85 FR 20737 (April 14, 2020) (SR-NYSEAMER-2020-25) (waiving Floor-based fixed fees); 88682 (April 8, 2020), 85 FR 20799 (April 14, 2020) (SR-NYSEAMER-2020-26) (raising Floor Broker QCC Rebate Cap); 88682 (April 17, 2020), 85 FR 22772 (April 23, 2020) (SR-NYSEAMER-2020-31) (including reversals and conversions in Strategy Execution Fee Cap). Self-Regulatory Organization's Statement on Burden on Competition, C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others, III. NYSE Bonds. Effectiveness of Proposed Change to Modify the NYSE American Options Fee Schedule January 11, 2018. 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