NYSE Arca eliminates MSCI options fees, adds floor broker rebate

The Securities and Exchange Commission published a notice on August 24, 2026 (Federal Register Vol. 91, No. 162, pp. 54780-54782) that NYSE Arca, Inc. filed a proposed rule change on August 11, 2026 (Release No. 34-106162; File No. SR-NYSEARCA-2026-85). The filing is being circulated for comment.

The proposal revises the NYSE Arca Options Fee Schedule by eliminating the $0.25 per-contract fee for Customer and Professional Customer manual executions in MSCI EAFE (MXEA) and MSCI Emerging Markets (MXEF) options, and the $0.05 per-contract fee for manual executions in MSCI USA (MXUSA), MSCI World (MXWLD) and MSCI ACWI (MXACW) options, reducing those charges to $0.00. In addition, Endnote 19 would be amended to provide a $0.25 per-contract rebate to participants in the Floor Broker Prepayment Incentive Program for all non-Strategy executions in MXEA and MXEF, with the rebate excluded from trades covered by the Limit of Fees on Options Strategy Executions.

The exchange states the purpose is to align fees across MSCI and non-MSCI options, attract additional liquidity, and incentivize floor-broker activity in MXEA and MXEF, which have been listed since February 25, 2026. The statutory basis cited is Section 6(b) of the Securities Exchange Act of 1934 and sections 6(b)(4) and (5).

The filing notes that NYSE Arca held a 10.41% share of executed volume of multiply-listed equity and ETF options in June 2026, that no single exchange exceeds a 16% share, and that 18 registered options exchanges compete for order flow, indicating a highly competitive market that limits pricing power.

The Commission is soliciting comments from interested persons on the proposed rule change.