Rules Target Options Fees
The Securities & Exchange Commission voted 5-0 to propose new rules to cap trading fees for customers of some options exchanges.</br></br>The proposal seeks to more closely align the actual cost of executing an options trade with the additional costs of accessing quotes on exchanges and the wide range of fees charged by different markets, according agency documents.</br></br>The proposal addresses a debate in the options industry over whether exchange fees should be assessed in a way that is similar to the U.S. stock market.</br></br>It would cap access fees at 30 cents a contract, and extend rules prohibiting exchanges from imposing "unfairly discriminatory terms" to cover options trading.</br></br>The cap would apply to any fee based on the execution of an incoming order against an exchange's best bid or offer.