NYSE American raises eDMM credit to $1,400 effective Sept 1
The exchange's proposed rule change, filed Sep. 1 and effective Sep. 1, raises the credit per security for eDMMs quoting at the NBBO from $1,250 to $1,400.
On September 1, 2026, NYSE American LLC filed a proposed rule change with the Securities and Exchange Commission (Release No. 34-106334; File No. SR-NYSEAMER-2026-78). The filing, published in the Federal Register on September 11, 2026 (FR Doc No. 2026-18934, Vol. 91, No. 178, pp. 58726-58729), is immediately effective and opens a comment period for interested parties.
The Exchange states the amendment is intended to enhance liquidity by increasing the optional monthly credit available to Electronic Designated Market Makers (eDMMs) that quote at the National Best Bid or Offer (NBBO) for at least 80% of the time. The proposed credit per security would rise from $1,250 to $1,400, providing a stronger incentive for eDMMs to add displayed liquidity.
Under the current schedule, eDMMs that agree to a $0.0020 per-share credit for adding displayed liquidity receive a $100 credit for quoting at the NBBO 25% of the time, $350 for 40%, $850 for 50%, $1,000 for 70%, and $1,250 for 80%. The amendment alters only the top tier, increasing the $1,250 credit to $1,400 while leaving all other rates unchanged.
The Exchange cites Section 6(b) of the Securities Exchange Act of 1934, including subsections (4) and (5), as the statutory basis, asserting that the change fairly allocates fees and promotes equitable trade principles without discriminating among market participants.
The Commission is soliciting comments on the proposal. The filing and supporting statements are available on the NYSE website (www.nyse.com) and at the Exchange's principal office. The fee amendment is slated to take effect on September 1, 2026.
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