UPDATE 1-NYSE Euronext cuts fees for NYSE Arca, NYSE Amex

*NYSE Euronext to offer modified fee structure for options

*New pricing is aimed to boost electronic order flow

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CHICAGO, June 24 (Reuters) - Exchange operator NYSE Euronext (NYX.N: Quote, Profile, Research) (NYX.PA: Quote, Profile, Research) said on Wednesday that it will be offering customers at its two U.S. options exchanges reduced transaction fees and in some instances, no fees, in a bid to boost market share and attract electronic order flow.

Euronext, which runs the NYSE Arca and NYSE Amex options platforms, said the modified fee structure for option trades will be effective on July 1, pending a filing with the U.S. Securities and Exchange Commission.

The changes would apply only to certain types of option trades and all other transaction fees will remain unchanged.

NYSE Euronext said both options exchanges will eliminate a facilitation fee to firms who trade directly with their customers and complete the transaction in house.

The facilitation fee applies to any transaction involving a firm's proprietary trading account, which has a customer of that same firm on the opposite side of the order.

Both option exchanges will reduce the broker dealer/firm manual fee to 25 cents per contract from 26 cents.