According to a price list from the NYSE, it offers designated electronic market makers, those firms which provide liquidity for the 354 NYSE American-listed securities, a payment of $.0045 per share.
In all other US securities, NYSE American charges a small fee to both sides of the trade.
The point of the rebates, according to the NYSE COO Stacey Cunningham, is to make the markets more liquid.
"We believe it critical for a listing exchange to ensure a high-quality displayed quote to reduce the cost of capital and share price volatility for its issuers, and in the absence of broader market structure reform, exchange-paid quoting incentives are a necessary mechanism in a highly fragmented US marketplace to support liquidity for listed companies," Cunningham said in a letter to clients emailed to Business Insider.
The rebates the NYSE is paying to market makers on its NYSE American exchange are among the highest in the industry and could pose a threat to IEX's business.