81 FR 12163 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Amending the Fees for NYSE Arca Proprietary Market Data as They Apply to Federal Agency Customers
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 45 (March 8, 2016)
Federal Register Volume 81, Issue 45 (March 8, 2016)
| Page Range | 12163-12165 | |
| FR Document | 2016-05121 |
[Federal Register Volume 81, Number 45 (Tuesday, March 8, 2016)] [Notices] [Pages 12163-12165] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-05121] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-77281; File No. SR-NYSEArca-2016-37] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Amending the Fees for NYSE Arca Proprietary Market Data as They Apply to Federal Agency Customers March 3, 2016. Pursuant to Section 19(b)(1)`` \1\ of the Securities Exchange Act of 1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on February 26, 2016, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE Arca'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- [[Page 12164]] I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the fees for NYSE Arca proprietary market data as they apply to Federal agency customers. The proposed rule change is available on the Exchange's Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the NYSE Arca Equities Proprietary Market Data Fee Schedule (``Fee Schedule''), to provide that market data fees do not apply to any Federal agency for their use of NYSE Arca real-time proprietary market data products. The term ``Federal agency'' as used in the Fee Schedule would include all Federal agencies subject to the Federal Acquisition Regulation (FAR),\4\ as well as any Federal agency not subject to FAR that has promulgated its own procurement rules.\5\ --------------------------------------------------------------------------- \4\ FAR is the principal set of rules governing the process by which the U.S. federal government purchases goods and services. \5\ See 48 CFR 2.101. FAR defines ``Federal agency'' as ``any executive agency or any independent establishment in the legislative or judicial branch of the Government (except the Senate, the House of Representatives, the Architect of the Capitol, and any activities under the Architect's direction).'' ``Executive agency'' is defined as ``an executive department, a military department, or any independent establishment within the meaning of 5 U.S.C. 101, 102, and 104(1), respectively, and any wholly owned Government corporation within the meaning of 31 U.S.C. 9101.'' --------------------------------------------------------------------------- The Exchange is proposing to specify that access fees, professional user fees and non-display fees do not apply to Federal agencies for those products to which those fees apply.\6\ The proposal is designed to allow the Exchange to provide Federal agencies with NYSE Arca real- time proprietary market data products at no cost in support of Federal agencies' regulatory responsibilities. With the adoption of the proposed fee waiver, the Exchange is not waiving any of its contractual rights and all Federal agencies that subscribe to NYSE Arca real-time proprietary market data products will be required to execute the appropriate subscriber agreement, which includes, among other things, provisions against the redistribution of data. --------------------------------------------------------------------------- \6\ These products are currently NYSE Arca Integrated Feed, NYSE ArcaBook, NYSE Arca BBO, NYSE Arca Trades and NYSE Arca Order Imbalances. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,\7\ in general, and Sections 6(b)(4) and 6(b)(5) of the Act,\8\ in particular, in that it provides an equitable allocation of reasonable fees among users and recipients of the data and is not designed to permit unfair discrimination among customers, issuers, and brokers. --------------------------------------------------------------------------- \7\ 15 U.S.C. 78f(b). \8\ 15 U.S.C. 78f(b)(4), (5). --------------------------------------------------------------------------- The Exchange believes the proposal to eliminate the access fees, display fees for professional users, and non-display fees associated with its proprietary market data products for customers that are Federal agencies is reasonable, equitable and not unfairly discriminatory because it is designed to facilitate federal government regulation without giving an undue advantage to one set of commercial users over another. The Exchange believes that it is reasonable to assess no fees to Federal agencies that subscribe to the Exchange's proprietary market data products because Federal agencies do not use the Exchange's proprietary market data for commercial gain, but only for regulatory purposes. B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. In setting the proposed fees, the Exchange considered the competitiveness of the market for proprietary data and all of the implications of that competition. The Federal agencies that will benefit from the proposed rule change, however, do not use the Exchange's proprietary market data products for commercial purposes and do not compete with commercial users of the data. The Exchange believes that it has considered all relevant factors and has not considered irrelevant factors in order to establish fair, reasonable, and not unreasonably discriminatory fees and an equitable allocation of fees among all users. C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) \9\ of the Act and subparagraph (f)(2) of Rule 19b- 4 \10\ thereunder, because it establishes a due, fee, or other charge imposed by the Exchange. --------------------------------------------------------------------------- \9\ 15 U.S.C. 78s(b)(3)(A). \10\ 17 CFR 240.19b-4(f)(2). --------------------------------------------------------------------------- At any time within 60 days of the filing of such proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. If the Commission takes such action, the Commission shall institute proceedings under Section 19(b)(2)(B) \11\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78s(b)(2)(B). --------------------------------------------------------------------------- IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File Number SR-NYSEArca-2016-37 on the subject line. Paper Comments Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. [[Page 12165]] All submissions should refer to File Number SR-NYSEArca-2016-37. This file number should be included on the subject line if email is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSEArca-2016-37 and should be submitted on or before March 29, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-05121 Filed 3-7-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 45 / Tuesday, March 8, 2016 / Notices 12163
adds NSX as a Participant 5 to the Plan. being the addition of its name in Section rule change that are filed with the
The Commission is publishing this II(A) of the Plan, and has provided a Commission, and all written
notice to solicit comments on the copy of the Plan executed by NSX to communications relating to the
amendment from interested persons. each of the other Participants. Under the amendment between the Commission
cover of this letter, NSX is submitting and any person, other than those that
I. Description and Purpose of the Plan
Amendment the executed Plan to the Commission for may be withheld from the public in
approval. Accordingly, all of the Plan accordance with the provisions of 5
As noted above, the sole proposed requirements for effecting an U.S.C. 552, will be available for Web
amendment to the Plan is to add the amendment to the Plan to add NSX as site viewing and printing in the
Exchange as a Participant. At the time a Participant have been satisfied. Commission’s Public Reference Room,
that the Plan was initially filed, NSX
had ceased trading operations pursuant II. Effectiveness of the Proposed Plan 100 F Street NE., Washington, DC
to a rule filing with the Commission; 6 Amendment 20549, on official business days
however, even though it had ceased between the hours of 10:00 a.m. and
The foregoing Plan amendment has
trading operations, NSX retained its become effective pursuant to Rule 3:00 p.m. Copies of such filing also will
status as a registered national securities 608(b)(3)(iii) of the Exchange Act 8 be available for inspection and copying
exchange and self-regulatory because it involves solely technical or at the principal office of NSX. All
organization. On December 5, 2015 [sic], ministerial matters. At any time within comments received will be posted
the Commission issued an order sixty days of the filing of this without change; the Commission does
approving a proposed rule change by amendment, the Commission may not edit personal identifying
NSX to enable trading activity to resume summarily abrogate the amendment and information from submissions. You
on the Exchange and make certain other require that it be refiled pursuant to should submit only information that
rule changes.7 As of December 31, 2015, paragraph (b)(1) of Rule 608,9 if it you wish to make available publicly. All
NSX resumed its status as a fully appears to the Commission that such submissions should refer to File
operational national securities action is necessary or appropriate in the Number 4–657 and should be submitted
exchange, trading equity securities and public interest, for the protection of on or before March 29, 2016.
equity derivative products on the basis investors or the maintenance of fair and By the Commission.
of unlisted trading privileges. orderly markets, to remove impediments
Under Section II(C) of the Plan, any Robert W. Errett,
to, and perfect the mechanisms of, a
entity registered as a national securities national market system or otherwise in Deputy Secretary.
exchange or national securities furtherance of the purposes of the Act. [FR Doc. 2016–05105 Filed 3–7–16; 8:45 am]
association under the Exchange Act may BILLING CODE 8011–01–P
become a Participant by: (1) Executing III. Solicitation of Comments
a copy of the Plan, as then in effect; (2) Interested persons are invited to
providing each then-current Participant submit written data, views and SECURITIES AND EXCHANGE
with a copy of such executed Plan; and arguments concerning the foregoing, COMMISSION
(3) effecting an amendment to the Plan including whether the amendment is
as specified in Section III(B) of the Plan. consistent with the Exchange Act. [Release No. 34–77281; File No. SR–
Section III(B) sets forth the process for Comments may be submitted by any of NYSEArca–2016–37]
a prospective new Participant to effect the following methods:
an amendment of the Plan. Specifically, Self-Regulatory Organizations; NYSE
the Plan provides that such an Electronic Comments
Arca, Inc.; Notice of Filing and
amendment to the Plan may be effected • Use the Commission’s Internet Immediate Effectiveness of a Proposed
by the new national securities exchange comment form (http://www.sec.gov/ Rule Change Amending the Fees for
or national securities association rules/sro.shtml); or NYSE Arca Proprietary Market Data as
executing a copy of the Plan as then in • Send an email to rule-comments@
effect (with the only changes being the They Apply to Federal Agency
sec.gov. Please include File Number 4–
addition of the new Participant’s name Customers
657 on the subject line.
in Section II(A) of the Plan); and March 3, 2016.
submitting such executed Plan to the Paper Comments
Commission for approval. The • Send paper comments in triplicate Pursuant to Section 19(b)(1)‘‘ 1 of the
amendment will be effective when it is to Brent J. Fields, Secretary, Securities Securities Exchange Act of 1934 (the
approved by the Commission in and Exchange Commission, 100 F Street ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
accordance with Rule 608 of Regulation NE., Washington, DC 20549–1090. notice is hereby given that, on February
NMS, or otherwise becomes effective All submissions should refer to File 26, 2016, NYSE Arca, Inc. (the
pursuant to Rule 608 of Regulation Number 4–657. This file number should ‘‘Exchange’’ or ‘‘NYSE Arca’’) filed with
NMS. be included on the subject line if email the Securities and Exchange
NSX has executed a copy of the Plan is used. To help the Commission Commission (the ‘‘Commission’’) the
currently in effect, with the only change process and review your comments proposed rule change as described in
more efficiently, please use only one Items I, II, and III below, which Items
Securities Exchange Act Release No. 76382 have been prepared by the self-
asabaliauskas on DSK3SPTVN1PROD with NOTICES
method. The Commission will post all
(November 6, 2015), 80 FR 70284 (November 13,
2015). comments on the Commission’s Internet regulatory organization. The
5 The term ‘‘Participant’’ is defined as a party to Web site (http://www.sec.gov/rules/ Commission is publishing this notice to
the Plan. sro.shtml). Copies of the submission, all solicit comments on the proposed rule
6 See Securities Exchange Act Release No. 72107
subsequent amendments, all written change from interested persons.
(May 6, 2014), 79 FR 27017 (May 12, 2014) (SR–
NSX–2014–14).
statements with respect to the proposed
7 See Securities Exchange Act Release No. 76640 1 15 U.S.C. 78s(b)(1).
8 17 CFR 242.608(b)(3)(iii). 2 15 U.S.C. 78a.
(December 14, 2015), 80 FR 79122 (December 18,
2015) (SR–NSX–2015–05). 9 17 CFR 242.608(b)(1). 3 17 CFR 240.19b–4.
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![Federal Register / Vol. 81, No. 45 / Tuesday, March 8, 2016 / Notices 12165
All submissions should refer to File (‘‘Commission’’) has submitted to the Office Building, Washington, DC 20503,
Number SR–NYSEArca–2016–37. This Office of Management and Budget or by sending an email to: Shagufta_
file number should be included on the (‘‘OMB’’) a request for approval of Ahmed@omb.eop.gov; and (ii) Pamela
subject line if email is used. To help the extension of the previously approved Dyson, Director/Chief Information
Commission process and review your collection of information provided for in Officer, Securities and Exchange
comments more efficiently, please use Rule 17g–4 (17 CFR 240.17g–4) under Commission, c/o Remi Pavlik-Simon,
only one method. The Commission will the Securities Exchange Act of 1934 (15 100 F St. NE., Washington, DC 20549 or
post all comments on the Commission’s U.S.C. 78a et seq.) (‘‘Exchange Act’’). send an email to: PRA_Mailbox@
Internet Web site (http://www.sec.gov/ The Credit Rating Agency Reform Act sec.gov. Comments must be submitted to
rules/sro.shtml). Copies of the of 2006 added a new section 15E, OMB within 30 days of this notice.
submission, all subsequent ‘‘Registration of Nationally Recognized
Dated: March 1, 2016.
amendments, all written statements Statistical Rating Organizations,’’ 1 to
Robert W. Errett,
with respect to the proposed rule the Exchange Act. Pursuant to the
authority granted under section 15E of Deputy Secretary.
change that are filed with the
the Exchange Act, the Commission [FR Doc. 2016–05042 Filed 3–7–16; 8:45 am]
Commission, and all written
communications relating to the adopted Rule 17g–4, which requires that BILLING CODE 8011–01–P
proposed rule change between the a nationally recognized statistical rating
Commission and any person, other than organization (‘‘NRSRO’’) establish,
maintain, and enforce written policies SECURITIES AND EXCHANGE
those that may be withheld from the
and procedures to prevent the misuse of COMMISSION
public in accordance with the
provisions of 5 U.S.C. 552, will be material nonpublic information, [Release No. IC–32019; File No. 812–13754]
available for Web site viewing and including policies and procedures
printing in the Commission’s Public reasonably designed to prevent: (a) The Apollo Investment Corporation, et al.;
Reference Room, 100 F Street NE., inappropriate dissemination of material Notice of Application
Washington, DC 20549 on official nonpublic information obtained in
connection with the performance of March 2, 2016.
business days between the hours of AGENCY: Securities and Exchange
10:00 a.m. and 3:00 p.m. Copies of the credit rating services; (b) a person
within the NRSRO from trading on Commission (‘‘Commission’’).
filing also will be available for
material nonpublic information; and (c) ACTION: Notice of application for an
inspection and copying at the principal
office of the Exchange. All comments the inappropriate dissemination of a order under sections 17(d) and 57(i) of
received will be posted without change; pending credit rating action.2 the Investment Company Act of 1940
the Commission does not edit personal There are 10 credit rating agencies (the ‘‘Act’’) and rule 17d–1 under the
registered with the Commission as Act to permit certain joint transactions
identifying information from
NRSROs under section 15E of the otherwise prohibited by sections 17(d)
submissions. You should submit only
Exchange Act, which have already and 57(a)(4) of the Act and rule 17d–1
information that you wish to make
established the policies and procedures under the Act.
available publicly. All submissions
required by Rule 17g–4. Based on staff
should refer to File Number SR– Summary of Application: Applicants
experience, an NRSRO is estimated to
NYSEArca–2016–37 and should be request an order to permit certain
spend an average of approximately 10
submitted on or before March 29, 2016. business development companies and
hours per year reviewing its policies
For the Commission, by the Division of and procedures regarding material closed-end management investment
Trading and Markets, pursuant to delegated nonpublic information and updating companies to co-invest in portfolio
authority.12 them (if necessary), resulting in an companies with each other and with
Robert W. Errett, average industry-wide annual hour affiliated investment funds.
Deputy Secretary. burden of approximately 100 hours.3 Applicants: Apollo Investment
[FR Doc. 2016–05121 Filed 3–7–16; 8:45 am] The Commission may not conduct or Corporation (‘‘AIC’’), Apollo Tactical
BILLING CODE 8011–01–P sponsor a collection of information Income Fund Inc. (‘‘AIF’’), Apollo
unless it displays a currently valid OMB Investment Management, L.P. (‘‘AIM’’),
control number. No person shall be Apollo Management VII, L.P., Apollo
SECURITIES AND EXCHANGE subject to any penalty for failing to Management VIII, L.P., Apollo Global
COMMISSION comply with a collection of information Real Estate Management, L.P., Apollo
subject to the PRA that does not display Capital Management, L.P., Apollo SVF
Submission for OMB Review; a valid OMB control number. Management, L.P., Apollo Value
Comment Request Background documentation for this Management, L.P., Apollo Europe
information collection may be viewed at Management, L.P., Apollo EPF
Upon Written Request Copies Available
the following Web site: Management, L.P., Apollo Credit
From: Securities and Exchange
www.reginfo.gov. Comments should be Opportunity Management III LLC,
Commission, Office of FOIA Services,
directed to: (i) Desk Officer for the Apollo Credit Management II, L.P.,
100 F Street NE., Washington, DC
Securities and Exchange Commission, Apollo Credit Management (CLO), LLC,
20549–2736.
Office of Information and Regulatory Apollo Credit Management II GP, LLC,
Extension: Affairs, Office of Management and Athene Asset Management, L.P., Apollo
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Rule 17g–4; SEC File No. 270–566, OMB Budget, Room 10102, New Executive Credit Management, LLC (‘‘ACM’’),
Control No. 3235–0627. Apollo Palmetto Strategic Partnership,
Notice is hereby given that pursuant 1 15 U.S.C. 78o–7. L.P., Apollo Special Opportunities
to the Paperwork Reduction Act of 1995 2 See 17 CFR 240.17g–4; Release No. 34–55231 Managed Account, L.P., Apollo
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the (Feb. 2, 2007), 72 FR 6378 (Feb. 9, 2007); Release Investment Europe II, L.P., Apollo
No. 34–55857 (June 5, 2007), 72 FR 33564 (June 18,
Securities and Exchange Commission 2007). Credit Opportunity Fund III LP, Apollo
3 10 currently registered NRSROs × 10 hours = Investment Fund VII, L.P., Apollo
12 17 CFR 200.30–3(a)(12). 100 hours. Investment Fund VIII, L.P., Apollo
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Document Created: 2018-02-02 15:09:55
Document Modified: 2018-02-02 15:09:55
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 81 FR 12163 |
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