The NYSE American LLC has notified the Securities and Exchange Commission (SEC) about a change to its fee structure for the NYSE American Options. This change aims to adjust the Floor Broker Fixed Cost Prepayment Incentive Program by lowering one of the manual billable qualification thresholds, introducing a new combined manual billable and QCC billable qualification threshold, and introducing a trial incentive for certain manual executions. These modifications are intended to take effect on March 7, 2025. The SEC is inviting public comments on this proposed rule change by April 7, 2025.
Simple Explanation
The NYSE American is changing some of its rules about how much money brokers have to pay when they trade. They're lowering some requirements and trying out a new way to give bonuses, starting March 7, 2025. People are invited to say what they think about these changes by April 7, 2025.