For 50 years, NYSE American Options and NYSE Arca Options have been at the forefront of the options industry, continuously evolving to meet the needs of market participants. Each market offers distinct pricing and allocation models, combining the efficiency of NYSE Pillar technology with the expertise of human judgment on active trading floors. Powered by NYSE Pillar, our markets deliver exceptional speed, resilience, and industry-leading functionality and risk controls.
Directed Order Market Maker (DOMM)
A DOMM can receive Directed Orders from an Order Flow Provider (OFP). If quoting at the National Best Bid and Offer (NBBO) at the time of execution, they may receive a preferential participation allocation, subject to Customer order priority. DOMMs must meet the same continuous quoting obligations as Specialists and comply with Exchange rules governing Directed Orders.
Floor Broker (FB)
Floor Brokers are registered Broker-Dealers who execute trades on behalf of customers or firms directly on the Trading Floor. FBs specialize in handling large, complex, or negotiated trades that benefit from manual execution.
Electronic price improvement auction mechanism for Single-Leg and Complex paired orders of any size.
Broadcast marketable orders on NYSE market data feeds for additional execution opportunities on American Options prior to routing, cancelling, or posting on the Consolidated Book.
Lead Market Makers (LMM)
An LMM is a designated Market Maker obligated to provide continuous two-sided quotes for at least 90% of the trading session. Specialists are entitled to a guaranteed participation allocation when quoting at the National Best Bid and Offer (NBBO). LMMs enhance price discovery and execution quality by facilitating trading.
Eligible Products and Specialists
Floor Broker (FB)
Floor Brokers are registered Broker-Dealers who execute trades on behalf of customers or firms directly on the Trading Floor. FBs specialize in handling large, complex, or negotiated trades that benefit from manual execution.
Options on ETFs allow investors to gain exposure to the performance of an index, hedge against a decline in assets, enhance portfolio returns, and/or profit from the rise or fall of a leveraged ETF.
Index options make it possible for investors to seek either profit or protection from price movements in a market as a whole or in broad segments of a particular market. NYSE is now the new home for MSCI Index Options.
FLEX Options offer customizable terms—size, strike price, and expiration. Types include Equity, Index, and Cash-Settled FLEX. LEAPS Options expire in up to 3 years and are available for eligible equity/index classes.