81 FR 49311 - Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE MKT Equities Price List and the NYSE Amex Options Fee Schedule
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 144 (July 27, 2016)
Federal Register Volume 81, Issue 144 (July 27, 2016)
| Page Range | 49311-49315 | |
| FR Document | 2016-17662 |
[Federal Register Volume 81, Number 144 (Wednesday, July 27, 2016)] [Notices] [Pages 49311-49315] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-17662] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-78376; File No. SR-NYSEMKT-2016-70] Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the NYSE MKT Equities Price List and the NYSE Amex Options Fee Schedule July 21, 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 July 11, 2016, NYSE MKT LLC (the ``Exchange'' or ``NYSE MKT'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II 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. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE MKT Equities Price List (``Price List'') and the NYSE Amex Options Fee Schedule (``Fee Schedule'') to add additional wireless connections and update or remove obsolete text. 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange's co-location \4\ services include the means for Users \5\ to receive market data feeds from third party markets (``Third Party Data'') through a wireless connection.\6\ The Exchange currently offers wireless connectivity to six Third Party Data feeds.\7\ The Exchange proposes to amend the Price List and Fee Schedule to (a) expand the existing wireless connections to Bats Pitch BZX Gig shaped data (``BZX'') and DirectEdge EDGX Gig shaped data (``EDGX'') to include additional market [[Page 49312]] data feeds, and (b) provide a wireless connection to NASDAQ TotalView Ultra (FPGA) and BX TotalView-ITCH data. The Exchange also proposes to update or remove obsolete text. --------------------------------------------------------------------------- \4\ The Exchange initially filed rule changes relating to its co-location services with the Securities and Exchange Commission (``Commission'') in 2010. See Securities Exchange Act Release No. 62961 (September 21, 2010), 75 FR 59299 (September 27, 2010) (SR- NYSEAmex-2010-80). The Exchange operates a data center in Mahwah, New Jersey (the ``data center'') from which it provides co-location services to Users. \5\ For purposes of the Exchange's co-location services, a ``User'' means any market participant that requests to receive co- location services directly from the Exchange. See Securities Exchange Act Release No. 76009 (September 29, 2015), 80 FR 60213 (October 5, 2015) (SR-NYSEMKT-2015-67). As specified in the Price List, a User that incurs co-location fees for a particular co- location service pursuant thereto would not be subject to co- location fees for the same co-location service charged by the Exchange's affiliates NYSE MKT LLC and NYSE Arca, Inc. See Securities Exchange Act Release No. 70176 (August 13, 2013), 78 FR 50471 (August 19, 2013) (SR-NYSEMKT-2013-67). \6\ See Securities Exchange Act Release No. 76750 (December 23, 2015), 80 FR 81648 (December 30, 2015) (SR-NYSEMKT-2015-85 (``Wireless Approval Release''). \7\ See Securities Exchange Act Release No. 77120 (February 11, 2016), 81 FR 8316 (February 18, 2016) (SR-NYSEMKT-2016-02. --------------------------------------------------------------------------- More specifically, the Exchange proposes to amend the connections to BZX and EDGX as follows:The wireless connection to BZX data would also include Bats Pitch BYX Gig shaped data (``BYX''), and the wireless connection to EDGX data would also include Bats EDGA Gig shaped data (``EDGA''). The related fees would not change. Any User that presently has a wireless connection to BZX or EDGX data would also receive BYX or EDGA data, respectively, upon effectiveness of the proposed change. Such User would not be required to pay a second non-recurring initial charge. In addition, the Exchange proposes to add a seventh Third Party Data feed, which would include NASDAQ TotalView Ultra (FPGA) and BX TotalView-ITCH data (``FPGA and TotalView-ITCH''). Both such data feeds are currently offered separately. For each wireless connection to FPGA and TotalView-ITCH, a User would be charged a $5,000 non-recurring initial charge and a monthly recurring charge (``MRC'') of $14,500. Any User that presently has a wireless connection to the separate FPGA and TotalView-ITCH feeds would become subject to the $14,500 MRC upon effectiveness of the proposed change. Such User would not be required to pay another non-recurring initial charge. The Exchange accordingly proposes to revise the Price List and Fee Schedule to include the following: ------------------------------------------------------------------------ Description Amount of charge ------------------------------------------------------------------------ Wireless connection of Bats Pitch BZX $5,000 per connection initial Gig shaped data and Bats Pitch BYX Gig charge plus monthly charge per shaped data. connection of $6,000. Fees are subject to a 30-day testing period, during which the monthly charge per connection is waived. Wireless connection of Bats EDGX Gig $5,000 per connection initial shaped data and Bats EDGA Gig shaped charge plus monthly charge per data. connection of $6,000. Fees are subject to a 30-day testing period, during which the monthly charge per connection is waived. Wireless connection of NASDAQ Totalview $5,000 per connection initial Ultra (FPGA) and BX Totalview-ITCH charge plus monthly charge per data. connection of $14,500. Fees are subject to a 30-day testing period, during which the monthly charge per connection is waived. ------------------------------------------------------------------------ As with all the Third Party Data, the Exchange would utilize a network vendor to provide a wireless connection to BZX and BYX, EDGX and EDGA or FPGA and TotalView-ITCH data (together, the ``Additional Third Party Data'') through wireless connections from an Exchange access center to its data center in Mahwah, New Jersey, through a series of towers equipped with wireless equipment. A User that wished to receive Additional Third Party Data would enter into a contract with the relevant third party provider, which would charge the User the applicable market data fees. The Exchange would charge the User fees for the wireless connection.\8\ --------------------------------------------------------------------------- \8\ A User only receives the Third Party Data for which it enters into a contract with the third party provider. If a User requested not to be connected to one of the Third Party Data feeds (for example, if it entered into a contract with BATS for BZX but not BYX, or for EDGA but not EDGX), the Exchange would only provide the wireless connection requested, but would charge the User the full $5000 initial fee, plus $6000/monthly fee for the wireless connection. --------------------------------------------------------------------------- As with the previously approved wireless connections to Third Party Data, if a User purchases two wireless connections to Additional Third Party Data, it pays two non-recurring initial charges. Wireless connections include the use of one port for connectivity to Third Party Data.\9\ As with the previously approved wireless connections to Third Party Data, the Exchange proposes to waive the first month's MRC, to allow Users to test the receipt of Additional Third Party Data for a month before incurring any MRCs. --------------------------------------------------------------------------- \9\ A User only requires one port to connect to the Third Party Data, irrespective of how many of the wireless connections it orders. It may, however, purchase additional ports. See Wireless Approval Release, supra note 6, at 81649. --------------------------------------------------------------------------- The Exchange proposes to offer the wireless connections to provide Users with an alternative means of connectivity to Additional Third Party Data. Currently, Users can receive such Third Party Data from wireless networks offered by third party vendors.\10\ Users may also receive connections to Additional Third Party Data through other methods, including, for example, from another User, through a telecommunications provider, or over the internet protocol (``IP'') network.\11\ --------------------------------------------------------------------------- \10\ Currently, at least six third party vendors offer Users wireless network connections using wireless equipment installed on towers and buildings near the data center. \11\ The IP network is a local area network available in the data center. See Securities Exchange Act Release No. 74220 (February 6, 2015), 80 FR 7894 (February 12, 2015) (SR-NYSEMKT-2015-08) (notice of filing and immediate effectiveness of proposed rule change to include IP network connections). --------------------------------------------------------------------------- The proposed connectivity to the FPGA and TotalView-ITCH data feeds would be available upon effectiveness. The proposed connectivity to the BZX and BYX or EDGX and EDGA data feeds is expected to be available no later than September 1, 2016. The Exchange will announce the date that the wireless connections will be made available through a customer notice. In addition, the Exchange proposes to replace the existing references to ``DirectEdge'' and ``BATS'' in the Price List and Fee Schedule with references to ``Bats'' in order to reflect the recent name changes of BATS Exchange, Inc. and EDGX Exchange, Inc. to Bats BZX Exchange, Inc. and Bats EDGX Exchange, Inc., respectively.\12\ --------------------------------------------------------------------------- \12\ See Securities Exchange Act Release No. 77298 (March 4, 2016), 81 FR 12757 (March 10, 2016) (SR-EDGX-2016-04) (notice of filing and immediate effectiveness of proposed rule change to reflect a legal name change by BATS Global Markets, Inc. and the legal names of certain subsidiaries). --------------------------------------------------------------------------- Finally, the Exchange proposes to delete statements in the Price List and Fee Schedule that say that the wireless connections for Third Party Data are expected to be available no later than March 1, 2016, as such statements are obsolete. This proposed change would have no impact on pricing. As is the case with all Exchange co-location arrangements, (i) neither a User nor any of the User's customers would be permitted to submit orders directly to the Exchange unless such User or customer is a member organization, a Sponsored Participant or an agent thereof (e.g., a service bureau providing order entry services); (ii) use of the co-location services proposed herein would be completely voluntary and available to all Users on a non-discriminatory [[Page 49313]] basis; \13\ and (iii) a User would only incur one charge for the particular co-location service described herein, regardless of whether the User connects only to the Exchange or to the Exchange and one or both of its affiliates.\14\ --------------------------------------------------------------------------- \13\ As is currently the case, Users that receive co-location services from the Exchange will not receive any means of access to the Exchange's trading and execution systems that is separate from, or superior to, that of other Users. In this regard, all orders sent to the Exchange enter the Exchange's trading and execution systems through the same order gateway, regardless of whether the sender is co-located in the data center or not. In addition, co-located Users do not receive any market data or data service product that is not available to all Users, although Users that receive co-location services normally would expect reduced latencies in sending orders to, and receiving market data from, the Exchange. \14\ See SR-NYSEMKT-2013-67, supra note 5 at 50471. The Exchange's affiliates have also submitted substantially the same proposed rule change to propose the changes described herein. See SR-NYSE-2016-49 and SR-NYSEArca-2016-99. --------------------------------------------------------------------------- The proposed change is not otherwise intended to address any other issues relating to co-location services and/or related fees, and the Exchange is not aware of any problems that Users would have in complying with the proposed change. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\15\ in general, and Section 6(b)(5) of the Act,\16\ in particular, because it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to, and perfect the mechanisms of, a free and open market and a national market system and, in general, to protect investors and the public interest and because it is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers. The Exchange also believes that the proposed rule change furthers the objectives of Section 6(b)(4) of the Act,\17\ in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities and does not unfairly discriminate between customers, issuers, brokers or dealers. --------------------------------------------------------------------------- \15\ 15 U.S.C. 78f(b). \16\ 15 U.S.C. 78f(b)(5). \17\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes that the proposed service is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers because the proposed changes would provide Users with an alternative means of connectivity to the Additional Third Party Data. Users that do not opt to utilize the Exchange's proposed wireless connections would still be able to obtain the Additional Third Party Data through other methods, including, for example, from wireless networks offered by third party vendors, another User, through a telecommunications provider, or over the IP network. Users that opt to use wireless connections to Additional Third Party Data would receive the Additional Third Party Data that is available to all Users, as all market participants that contract with the relevant third party market for the Additional Third Party Data may receive it. The Exchange believes that this removes impediments to, and perfects the mechanisms of, a free and open market and a national market system and, in general, protects investors and the public interest because it would provide Users with choices with respect to the form and optimal latency of the connectivity they use to receive Additional Third Party Data, allowing a User that opts to receive such Additional Third Party Data to select the connectivity and number of ports that better suit its needs, helping it tailor its data center operations to the requirements of its business operations. The Exchange believes that the proposed change is equitable and not unfairly discriminatory because it will result in fees being charged only to Users that voluntarily select to receive the corresponding services and because those services will be available to all Users. Furthermore, the Exchange believes that the services and fees proposed herein are not unfairly discriminatory and are equitably allocated because, in addition to the services being completely voluntary, they are available to all Users on an equal basis (i.e., the same products and services are available to all Users). All Users that voluntarily select wireless connections to Additional Third Party Data would be charged the same amount for the same services and would have their first month MRC for wireless connections waived. Overall, the Exchange believes that the proposed change is reasonable because the Exchange proposes to offer the wireless connections to described herein as a convenience to Users, but in doing so would incur certain costs, including costs related to the data center facility, hardware and equipment and costs related to personnel required for initial installation and monitoring, support and maintenance of such services. The costs associated with the wireless connections are incrementally higher than fiber optics-based solutions due to the expense of the wireless equipment, cost of installation and testing and ongoing maintenance of the network. The Exchange believes that it is reasonable not to charge a User a second non-recurring initial charge if it has a wireless connection to BZX or EDGX data as of the date of effectiveness of the proposed change, because such User would have already paid a non-recurring initial charge for the wireless connection to BZX or EDGX data that it already has. The Exchange believes that it is reasonable that a User that presently has a wireless connection to the separate FPGA and TotalView-ITCH feeds would become subject to the $14,500 MRC upon effectiveness of the proposed change, because such User would have the same service as a User that obtained wireless connectivity to the FPGA and TotalView-ITCH feeds after effectiveness. Similarly, the Exchange believes that it is reasonable that such a User would not be required to pay another non-recurring initial charge, because such User would have already paid non-recurring initial charges for the two wireless connections that it already has. The Exchange believes that it is reasonable that a User that has already purchased wireless connections to other Third Party Data would be charged a non-recurring initial charge when it purchases a wireless connection to Additional Third Party Data, because the Exchange would incur certain costs in installing the wireless connection to such Third Party Data irrespective of whether the User had existing wireless connections to other Third Party Data. Such costs related to initial installation include, in particular, costs related to personnel required for initial installation and testing. The costs associated with installing wireless connections are incrementally higher than those associated with installing fiber optics-based solutions. The Exchange believes that the proposed pricing is reasonable because it allows Users to select the Additional Third Party Data connectivity option that better suits their needs. The fees also reflect the benefit received by Users in terms of lower latency over the fiber optics option. For competitive reasons, the Exchange has opted not to change the existing fees for the BZX and EDGX Third Party Data feeds. Accordingly, Users that already receive the BZX or EDGX Third Party Data feed will receive an additional feed at no incremental cost. [[Page 49314]] The Exchange believes that the proposed waiver of the first month's MRC is reasonable as it would allow Users to test the receipt of the feed for a month before incurring any monthly recurring fees and may act as an incentive to Users to connect to Additional Third Party Data. Moreover, the Exchange believes that the proposed fees are equitably allocated and not unfairly discriminatory because the wireless connections to Additional Third Party Data would provide Users with an alternative means of connectivity to such feeds. Users that do not opt to utilize the Exchange's proposed wireless connections would still be able to obtain Additional Third Party Data through other methods, including, for example, from wireless networks offered by third party vendors, another User, through a telecommunications provider, or over the IP network. Users that opt to use wireless connections for Additional Third Party Data would receive the Additional Third Party Data that is available to all Users, as all market participants that contract with the relevant third party market for the Additional Third Party Data may receive it. The Exchange believes that deleting statements in the Price List and Fee Schedule that say that the wireless connections for Third Party Data are expected to be available no later than March 1, 2016, is reasonable, equitable and not unfairly discriminatory because the reference is obsolete and no longer has an impact on pricing. The Exchange also believes that replacing the existing references to ``DirectEdge'' and ``BATS'' in the Price List and Fee Schedule with references to ``Bats'' is reasonable, equitable and not unfairly discriminatory, because it will reflect the recent name changes of BATS Exchange, Inc. and EDGX Exchange, Inc. to Bats BZX Exchange, Inc. and Bats EDGX Exchange, Inc., respectively. The proposed changes would result in the removal or update of obsolete text from the Price List and Fee Schedule and therefore add greater clarity to the Price List and Fee Schedule regarding the services offered and the applicable fees. For the reasons above, the proposed changes do not unfairly discriminate between or among market participants that are otherwise capable of satisfying any applicable co-location fees, requirements, terms and conditions established from time to time by the Exchange. Finally, the Exchange believes that it is subject to significant competitive forces, as described below in the Exchange's statement regarding the burden on competition. For these reasons, the Exchange believes that the proposed fees are reasonable, equitable, and not unfairly discriminatory. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\18\ the Exchange believes that the proposed rule change will not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because, in addition to the proposed services being completely voluntary, they are available to all Users on an equal basis (i.e. the same products and services are available to all Users). --------------------------------------------------------------------------- \18\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- The Exchange believes that the proposed rule changes will not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because such access will provide Users with wireless connectivity to additional Third Party Data feeds. Currently, Users can receive Additional Third Party Data from wireless networks offered by third party vendors. Based on the information available to it, the Exchange believes that its proposed wireless connection would provide data at the same or similar speed and at the same or similar cost as the other wireless networks. Accordingly, the proposed wireless connections to Additional Third Party Data would provide Users with an additional wireless connectivity option, thereby enhancing competition. The Exchange notes that the proposed wireless connections to Additional Third Party Data would compete not just with other wireless connections to such Additional Third Party Data, but also with fiber optic network connections to Additional Third Party Data, which may be more attractive to some Users as they are more reliable and less susceptible to weather conditions. Users that do not opt to utilize wireless connections would be able to obtain Additional Third Party Data through other methods, including, for example, from another User, through a telecommunications provider, or over the IP network. In this way, the proposed changes would enhance competition by helping Users tailor their connectivity to Additional Third Party Data to the needs of their business operations by allowing them to select the form and optimal latency of the connectivity they use to receive such Additional Third Party Data that best suits their needs, helping them tailor their data center operations to the requirements of their business operations. The proposed wireless connections to Additional Third Party Data would traverse wireless connections through a series of towers equipped with wireless equipment, including a pole on the grounds of the data center. The wireless network has exclusive rights to operate wireless equipment on the data center pole. The Exchange will not sell rights to third parties to operate wireless equipment on the pole, due to space limitations, security concerns, and the interference that would arise between equipment placed too closely together. In addition to space issues, there are contractual restrictions on the use of the roof that the Exchange has determined would not be met if it offered space on the roof for third party wireless equipment. Moreover, access to the pole or roof is not required for third parties to establish wireless networks that can compete with the Exchange's proposed service, as witnessed by the existing wireless networks currently serving Users. Based on the information available to it, the Exchange believes that its proposed wireless connections to Additional Third Party Data would provide data at the same or similar speed, and at the same or similar cost, as its proposed wireless connection, thereby enhancing competition.\19\ --------------------------------------------------------------------------- \19\ The Exchange notes that the distance of a wireless network provider's wireless equipment from the User is only one factor in determining overall latency. Other factors include the number of repeaters in the route, the number of switches the data has to travel through, and the millimeter wave and switch technology used. --------------------------------------------------------------------------- Finally, the Exchange notes that it operates in a highly competitive market in which market participants can readily favor competing venues if they deem fee levels at a particular venue to be excessive. In such an environment, the Exchange must continually review, and consider adjusting, its services and related fees and credits to remain competitive with other exchanges. For the reasons described above, the Exchange believes that the proposed rule change reflects this competitive environment. 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. [[Page 49315]] III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A)(iii) of the Act \20\ and subparagraph (f)(6) of Rule 19b-4 thereunder.\21\ A proposed rule change filed under Rule 19b-4(f)(6) normally does not become operative prior to 30 days after the date of filing.\22\ Rule 19b-4(f)(6)(iii), however, permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest.\23\ --------------------------------------------------------------------------- \20\ 15 U.S.C. 78s(b)(3)(a)(iii). \21\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. \22\ 17 CFR 240.19b-4(f)(6)(iii). \23\ Id. --------------------------------------------------------------------------- The Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Commission believes that waiver of the operative delay is consistent with the protection of investors and the public interest because such waiver will allow Users that elect to receive wireless connections to both NASDAQ Totalview Ultra (FPGA) and BX Totalview-ITCH data to do so without delay at a reduced fee through the new bundle price. The Commission has therefore determined to waive the 30-day operative delay and designate the proposed rule change as operative upon filing with the Commission.\24\ --------------------------------------------------------------------------- \24\ For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). --------------------------------------------------------------------------- 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) of the Act \25\ to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \25\ 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 Comments Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to [email protected]. Please include File No. SR-NYSEMKT-2016-70 on the subject line. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File No. SR-NYSEMKT-2016-70. 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 such 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 No. SR-NYSEMKT-2016-70, and should be submitted on or before August 17, 2016. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\26\ --------------------------------------------------------------------------- \26\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Robert W. Errett, Deputy Secretary. [FR Doc. 2016-17662 Filed 7-26-16; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 49311
C. Self-Regulatory Organization’s public in accordance with the additional wireless connections and
Statement on Comments on the provisions of 5 U.S.C. 552, will be update or remove obsolete text. The
Proposed Rule Change Received From available for Web site viewing and proposed rule change is available on the
Members, Participants, or Others printing in the Commission’s Public Exchange’s Web site at www.nyse.com,
No written comments were solicited Reference Room, 100 F Street NE., at the principal office of the Exchange,
Washington, DC 20549 on official and at the Commission’s Public
or received with respect to the proposed
business days between the hours of Reference Room.
rule change.
10:00 a.m. and 3:00 p.m. Copies of the
II. Self-Regulatory Organization’s
III. Date of Effectiveness of the filing also will be available for
Statement of the Purpose of, and
Proposed Rule Change and Timing for inspection and copying at the principal
Statutory Basis for, the Proposed Rule
Commission Action office of the Exchange. All comments
Change
Within 45 days of the date of received will be posted without change;
the Commission does not edit personal In its filing with the Commission, the
publication of this notice in the Federal self-regulatory organization included
Register or within such longer period identifying information from
submissions. You should submit only statements concerning the purpose of,
up to 90 days (i) as the Commission may and basis for, the proposed rule change
designate if it finds such longer period information that you wish to make
available publicly. All submissions and discussed any comments it received
to be appropriate and publishes its on the proposed rule change. The text
reasons for so finding or (ii) as to which should refer to File Number SR–
NYSEArca–2016–104 and should be of those statements may be examined at
the self-regulatory organization the places specified in Item IV below.
consents, the Commission will: submitted on or before August 17, 2016.
The Exchange has prepared summaries,
(A) by order approve or disapprove For the Commission, by the Division of
Trading and Markets, pursuant to delegated
set forth in sections A, B, and C below,
the proposed rule change, or of the most significant parts of such
(B) institute proceedings to determine authority.10
Robert W. Errett, statements.
whether the proposed rule change
should be disapproved. Deputy Secretary. A. Self-Regulatory Organization’s
[FR Doc. 2016–17669 Filed 7–26–16; 8:45 am] Statement of the Purpose of, and
IV. Solicitation of Comments BILLING CODE 8011–01–P Statutory Basis for, the Proposed Rule
Interested persons are invited to Change
submit written data, views, and 1. Purpose
arguments concerning the foregoing, SECURITIES AND EXCHANGE
including whether the proposed rule COMMISSION The Exchange’s co-location 4 services
change is consistent with the Act. include the means for Users 5 to receive
[Release No. 34–78376; File No. SR– market data feeds from third party
Comments may be submitted by any of NYSEMKT–2016–70]
the following methods: markets (‘‘Third Party Data’’) through a
Self-Regulatory Organizations; NYSE wireless connection.6 The Exchange
Electronic Comments currently offers wireless connectivity to
MKT LLC; Notice of Filing and
• Use the Commission’s Internet Immediate Effectiveness of Proposed six Third Party Data feeds.7 The
comment form (http://www.sec.gov/ Rule Change Amending the NYSE MKT Exchange proposes to amend the Price
rules/sro.shtml); or Equities Price List and the NYSE Amex List and Fee Schedule to (a) expand the
• Send an email to rule-comments@ Options Fee Schedule existing wireless connections to Bats
sec.gov. Please include File Number SR– Pitch BZX Gig shaped data (‘‘BZX’’) and
NYSEArca–2016–104 on the subject July 21, 2016. DirectEdge EDGX Gig shaped data
line. Pursuant to Section 19(b)(1) 1 of the (‘‘EDGX’’) to include additional market
Securities Exchange Act of 1934 (the
Paper Comments ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 4 The Exchange initially filed rule changes
notice is hereby given that on July 11, relating to its co-location services with the
• Send paper comments in triplicate Securities and Exchange Commission
to Secretary, Securities and Exchange 2016, NYSE MKT LLC (the ‘‘Exchange’’ (‘‘Commission’’) in 2010. See Securities Exchange
Commission, 100 F Street NE., or ‘‘NYSE MKT’’) filed with the Act Release No. 62961 (September 21, 2010), 75 FR
Washington, DC 20549–1090. Securities and Exchange Commission 59299 (September 27, 2010) (SR–NYSEAmex–2010–
(the ‘‘Commission’’) the proposed rule 80). The Exchange operates a data center in
All submissions should refer to File Mahwah, New Jersey (the ‘‘data center’’) from
Number SR–NYSEArca–2016–104. This change as described in Items I and II which it provides co-location services to Users.
file number should be included on the below, which Items have been prepared 5 For purposes of the Exchange’s co-location
subject line if email is used. To help the by the self-regulatory organization. The services, a ‘‘User’’ means any market participant
Commission is publishing this notice to that requests to receive co-location services directly
Commission process and review your from the Exchange. See Securities Exchange Act
comments more efficiently, please use solicit comments on the proposed rule Release No. 76009 (September 29, 2015), 80 FR
only one method. The Commission will change from interested persons. 60213 (October 5, 2015) (SR–NYSEMKT–2015–67).
As specified in the Price List, a User that incurs co-
post all comments on the Commission’s I. Self-Regulatory Organization’s location fees for a particular co-location service
Internet Web site (http://www.sec.gov/ Statement of the Terms of the Substance pursuant thereto would not be subject to co-location
rules/sro.shtml). Copies of the of the Proposed Rule Change fees for the same co-location service charged by the
submission, all subsequent Exchange’s affiliates NYSE MKT LLC and NYSE
The Exchange proposes to amend the Arca, Inc. See Securities Exchange Act Release No.
amendments, all written statements
sradovich on DSK3GMQ082PROD with NOTICES
NYSE MKT Equities Price List (‘‘Price 70176 (August 13, 2013), 78 FR 50471 (August 19,
with respect to the proposed rule List’’) and the NYSE Amex Options Fee 2013) (SR–NYSEMKT–2013–67).
change that are filed with the Schedule (‘‘Fee Schedule’’) to add 6 See Securities Exchange Act Release No. 76750
Commission, and all written (December 23, 2015), 80 FR 81648 (December 30,
communications relating to the 2015) (SR–NYSEMKT–2015–85 (‘‘Wireless
10 17 CFR 200.30–3(a)(12). Approval Release’’).
proposed rule change between the 1 15 U.S.C.78s(b)(1). 7 See Securities Exchange Act Release No. 77120
Commission and any person, other than 2 15 U.S.C. 78a.
(February 11, 2016), 81 FR 8316 (February 18, 2016)
those that may be withheld from the 3 17 CFR 240.19b–4. (SR–NYSEMKT–2016–02.
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![Federal Register / Vol. 81, No. 144 / Wednesday, July 27, 2016 / Notices 49315
III. Date of Effectiveness of the determine whether the proposed rule For the Commission, by the Division of
Proposed Rule Change and Timing for change should be approved or Trading and Markets, pursuant to delegated
Commission Action disapproved. authority.26
Robert W. Errett,
Because the foregoing proposed rule IV. Solicitation of Comments
change does not: (i) Significantly affect Deputy Secretary.
the protection of investors or the public [FR Doc. 2016–17662 Filed 7–26–16; 8:45 am]
Interested persons are invited to
interest; (ii) impose any significant submit written data, views, and BILLING CODE 8011–01–P
burden on competition; and (iii) become arguments concerning the foregoing,
operative for 30 days from the date on including whether the proposed rule
which it was filed, or such shorter time SECURITIES AND EXCHANGE
change is consistent with the Act.
as the Commission may designate, it has COMMISSION
Comments may be submitted by any of
become effective pursuant to Section the following methods: [Release No. 34–78378; File No. SR–NYSE–
19(b)(3)(A)(iii) of the Act 20 and 2016–49]
subparagraph (f)(6) of Rule 19b–4 Electronic Comments
thereunder.21 A proposed rule change Self-Regulatory Organizations; New
filed under Rule 19b–4(f)(6) normally • Use the Commission’s Internet York Stock Exchange LLC; Notice of
does not become operative prior to 30 comment form (http://www.sec.gov/ Filing and Immediate Effectiveness of
days after the date of filing.22 Rule 19b– rules/sro.shtml); or Proposed Rule Change Amending the
4(f)(6)(iii), however, permits the • Send an email to rule-comments@ Exchange’s Price List
Commission to designate a shorter time sec.gov. Please include File No. SR– July 21, 2016.
if such action is consistent with the NYSEMKT–2016–70 on the subject line.
protection of investors and the public Pursuant to Section 19(b)(1) 1 of the
interest.23 Paper Comments Securities Exchange Act of 1934 (the
The Exchange has asked the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Commission to waive the 30-day • Send paper comments in triplicate notice is hereby given that on July 11,
operative delay so that the proposal may to Brent J. Fields, Secretary, Securities 2016, New York Stock Exchange LLC
become operative immediately upon and Exchange Commission, 100 F Street (‘‘NYSE’’ or the ‘‘Exchange’’) filed with
filing. The Commission believes that NE., Washington, DC 20549–1090. the Securities and Exchange
waiver of the operative delay is All submissions should refer to File No. Commission (the ‘‘Commission’’) the
consistent with the protection of proposed rule change as described in
SR–NYSEMKT–2016–70. This file
investors and the public interest Items I and II below, which Items have
number should be included on the
because such waiver will allow Users been prepared by the self-regulatory
subject line if email is used. To help the
that elect to receive wireless organization. The Commission is
Commission process and review your
connections to both NASDAQ Totalview publishing this notice to solicit
comments more efficiently, please use comments on the proposed rule change
Ultra (FPGA) and BX Totalview-ITCH only one method. The Commission will
data to do so without delay at a reduced from interested persons.
post all comments on the Commission’s
fee through the new bundle price. The I. Self-Regulatory Organization’s
Internet Web site (http://www.sec.gov/
Commission has therefore determined to Statement of the Terms of the Substance
rules/sro.shtml). Copies of the
waive the 30-day operative delay and of the Proposed Rule Change
designate the proposed rule change as submission, all subsequent
operative upon filing with the amendments, all written statements The Exchange proposes to amend the
Commission.24 with respect to the proposed rule Exchange’s Price List to add additional
At any time within 60 days of the change that are filed with the wireless connections and update or
filing of such proposed rule change, the Commission, and all written remove obsolete text. The proposed rule
Commission summarily may communications relating to the change is available on the Exchange’s
temporarily suspend such rule change if proposed rule change between the Web site at www.nyse.com, at the
it appears to the Commission that such Commission and any person, other than principal office of the Exchange, and at
action is necessary or appropriate in the those that may be withheld from the the Commission’s Public Reference
public interest, for the protection of public in accordance with the Room.
investors, or otherwise in furtherance of provisions of 5 U.S.C. 552, will be
II. Self-Regulatory Organization’s
the purposes of the Act. If the available for Web site viewing and
Statement of the Purpose of, and
Commission takes such action, the printing in the Commission’s Public
Statutory Basis for, the Proposed Rule
Commission shall institute proceedings Reference Room, 100 F Street NE.,
Change
under Section 19(b)(2)(B) of the Act 25 to Washington, DC 20549 on official
business days between the hours of In its filing with the Commission, the
20 15 U.S.C. 78s(b)(3)(a)(iii). 10:00 a.m. and 3:00 p.m. Copies of such self-regulatory organization included
21 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
filing also will be available for statements concerning the purpose of,
4(f)(6) requires a self-regulatory organization to give and basis for, the proposed rule change
the Commission written notice of its intent to file
inspection and copying at the principal
the proposed rule change at least five business days office of the Exchange. All comments and discussed any comments it received
prior to the date of filing of the proposed rule received will be posted without change; on the proposed rule change. The text
change, or such shorter time as designated by the the Commission does not edit personal of those statements may be examined at
sradovich on DSK3GMQ082PROD with NOTICES
Commission. The Exchange has satisfied this the places specified in Item IV below.
requirement. identifying information from
22 17 CFR 240.19b–4(f)(6)(iii). submissions. You should submit only The Exchange has prepared summaries,
23 Id. information that you wish to make set forth in sections A, B, and C below,
24 For purposes only of waiving the 30-day available publicly. All submissions 26 17
operative delay, the Commission has considered the CFR 200.30–3(a)(12).
should refer to File No. SR–NYSEMKT– 1 15 U.S.C. 78s(b)(1).
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f). 2016–70, and should be submitted on or 2 15 U.S.C. 78a.
25 15 U.S.C. 78s(b)(2)(B). before August 17, 2016. 3 17 CFR 240.19b–4.
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Document Created: 2018-02-08 08:02:36
Document Modified: 2018-02-08 08:02:36
| 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 49311 |
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