81_FR_8345 81 FR 8313 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to the Co-Location Services Offered by the Exchange To Include a Means for Co-Located Users To Receive the NASDAQ TotalView Ultra Market Data Feed Through a Wireless Connection and Reflect Changes to the Exchange Price List

81 FR 8313 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to the Co-Location Services Offered by the Exchange To Include a Means for Co-Located Users To Receive the NASDAQ TotalView Ultra Market Data Feed Through a Wireless Connection and Reflect Changes to the Exchange Price List

SECURITIES AND EXCHANGE COMMISSION

Federal Register Volume 81, Issue 32 (February 18, 2016)

Page Range8313-8316
FR Document2016-03271

Federal Register, Volume 81 Issue 32 (Thursday, February 18, 2016)
[Federal Register Volume 81, Number 32 (Thursday, February 18, 2016)]
[Notices]
[Pages 8313-8316]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-03271]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-77119; File No. SR-NYSE-2016-01]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change to 
the Co-Location Services Offered by the Exchange To Include a Means for 
Co-Located Users To Receive the NASDAQ TotalView Ultra Market Data Feed 
Through a Wireless Connection and Reflect Changes to the Exchange Price 
List

February 11, 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 2, 2016, New York Stock Exchange LLC (``NYSE'' 
or the ``Exchange'') 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.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange proposes to change the co-location services offered by 
the Exchange to include a means for co-located Users to receive the 
NASDAQ TotalView Ultra (FGPA) market data feed through a wireless 
connection. In addition, the proposed rule change reflects changes to 
the Exchange's Price List related to the proposed service. 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 proposes to change the co-location \4\ services 
offered by the Exchange to include a means for Users \5\ to have access 
to the NASDAQ TotalView Ultra (FGPA) market data feed through a 
wireless connection. In addition, the proposed rule change reflects 
changes to the Exchange's Price List related to the proposed service.
---------------------------------------------------------------------------

    \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. 
62960 (September 21, 2010), 75 FR 59310 (September 27, 2010) (SR-
NYSE-2010-56). 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. 76008 (September 29, 2015), 80 FR 60190 
(October 5, 2015) (SR-NYSE-2015-40). 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. 70206 (August 15, 2013), 78 FR 51765 (August 21, 
2013) (SR-NYSE-2013-59).
---------------------------------------------------------------------------

    The Commission has approved the Exchange's proposed rule change to 
provide a wireless connection to five market data feeds from third 
party markets.\6\ The Exchange now proposes to add to its Price List a 
sixth market data feed, NASDAQ TotalView Ultra (FGPA) (``TotalView 
Ultra'' and, together with the previously filed five market data feeds, 
the ``Third Party Data'').
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 76748 (December 23, 
2015), 80 FR 81609 (December 30, 2015) (SR-NYSE-2015-52) (``Wireless 
Approval Release'').
---------------------------------------------------------------------------

    As with the previously approved connectivity to Third Party Data 
through the wireless connection, the Exchange would utilize a network 
vendor to provide a wireless connection to TotalView Ultra 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. To receive TotalView Ultra, the User would enter 
into a contract with NASDAQ, which would charge the User the applicable 
market data fees for TotalView Ultra. The Exchange would charge the 
User fees for the wireless connection to TotalView Ultra.\7\
---------------------------------------------------------------------------

    \7\ A User would only receive TotalView Ultra if it had entered 
into a contract with NASDAQ.
---------------------------------------------------------------------------

    For each wireless connection to TotalView Ultra, a User would be 
charged a $5,000 non-recurring initial charge and a monthly recurring 
charge (``MRC'') of $11,000. The Exchange proposes to revise its Price 
List to reflect fees related to the connection to TotalView Ultra.
    As with the previously approved wireless connections to Third Party 
Data, if a User purchased two wireless connections, it would pay two 
non-recurring initial charges, and the wireless connection would 
include the use of one port for connectivity to Third Party Data.\8\ 
Also as with the previously approved wireless connections to Third 
Party Data, the Exchange proposes to

[[Page 8314]]

waive the first month's MRC, to allow Users to test the receipt of 
TotalView Ultra for a month before incurring any MRCs.
---------------------------------------------------------------------------

    \8\ 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, at 81610.
---------------------------------------------------------------------------

    The Exchange proposes to offer the wireless connection to provide 
Users with an alternative means of connectivity to TotalView Ultra. 
Currently, Users can receive TotalView Ultra from wireless networks 
offered by third party vendors.\9\ Users may also receive connections 
to TotalView Ultra through other methods, including, for example, from 
another User, through a telecommunications provider, or over the 
internet protocol (``IP'') network.\10\
---------------------------------------------------------------------------

    \9\ Currently, at least four third party vendors offer Users 
wireless network connections using wireless equipment installed on 
towers and buildings near the data center.
    \10\ The IP network is a local area network available in the 
data center. See Securities Exchange Act Release No. 74222 (February 
6, 2015), 80 FR 7888 (February 12, 2015) (SR-NYSE-2015-05) (notice 
of filing and immediate effectiveness of proposed rule change to 
include IP network connections).
---------------------------------------------------------------------------

    The wireless connection to the Third Party Data is expected to be 
available in January 2016, and no later than March 1, 2016. The 
Exchange will announce the date that the wireless connection to the 
Third Party Data will be available through a customer notice.
    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 basis; \11\ 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.\12\
---------------------------------------------------------------------------

    \11\ 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.
    \12\ See SR-NYSE-2013-59, supra note 5 at 51766. The Exchange's 
affiliates have also submitted substantially the same proposed rule 
change to propose the changes described herein. See SR-NYSEMKT-2016-
02 and SR-NYSEArca-2016-04.
---------------------------------------------------------------------------

    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,\13\ in general, and furthers the 
objectives of Sections 6(b)(4) and 6(b)(5) of the Act,\14\ 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.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78f(b).
    \14\ 15 U.S.C. 78f(b)(4), (5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed service is not designed to 
permit unfair discrimination between customers, issuers, brokers, or 
dealers because the wireless connection to TotalView Ultra would 
provide Users with an alternative means of connectivity to TotalView 
Ultra. Users that do not opt to utilize the Exchange's proposed 
wireless connections would still be able to obtain TotalView Ultra 
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 TotalView Ultra would receive the TotalView 
Ultra that is available to all Users, as all market participants that 
contract with NASDAQ for TotalView Ultra 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 
TotalView Ultra, allowing a User that opts to receive TotalView Ultra 
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 also believes that the proposed rule change is 
consistent with Section 6(b)(4) of the Act,\15\ 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)(4).
---------------------------------------------------------------------------

    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 TotalView Ultra 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 
connection to TotalView Ultra 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 that a User that has already 
purchased wireless connections to other Third Party Data would be 
charged a non-recurring charge when it purchases a wireless connection 
to TotalView Ultra, because the Exchange would incur certain costs in 
installing the wireless connection to TotalView Ultra irrespective of 
whether the User had existing wireless connections to 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.

[[Page 8315]]

    The Exchange believes that the proposed pricing for the wireless 
connection to TotalView Ultra is reasonable because it allows Users to 
select the TotalView Ultra 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. 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 TotalView Ultra.
    Moreover, the fees are equity [sic] allocated and not unfairly 
discriminatory because the wireless connection to TotalView Ultra would 
provide Users with an alternative means of connectivity to TotalView 
Ultra. Users that do not opt to utilize the Exchange's proposed 
wireless connections would still be able to obtain TotalView Ultra 
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 TotalView Ultra would receive the TotalView 
Ultra that is available to all Users, as all market participants that 
contract with NASDAQ for TotalView Ultra may receive it.
    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,\16\ 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).
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    The Exchange believes that allowing Users to receive TotalView 
Ultra through a wireless connection 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 satisfy User demand for 
additional options for connectivity to TotalView Ultra. Currently, 
Users can receive TotalView Ultra 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 
connection to TotalView Ultra would provide Users with an additional 
wireless connectivity option, thereby enhancing competition.
    The Exchange notes that the proposed wireless connection to 
TotalView Ultra would compete not just with other wireless connections 
to TotalView Ultra, but also with fiber optic network connections to 
TotalView Ultra, 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 
TotalView Ultra 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 TotalView Ultra to the needs 
of their business operations by allowing them to select the form and 
optimal latency of the connectivity they use to receive TotalView Ultra 
that best suits their needs, helping them tailor their data center 
operations to the requirements of their business operations.
    The proposed wireless connection to TotalView Ultra would traverse 
wireless connections through a series of towers equipped with wireless 
equipment, including a pole on the grounds of the data center. The 
proposed wireless network would have 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 connection to TotalView Ultra would 
provide data at the same or similar speed, and at the same or similar 
cost, as its proposed wireless connection [sic], thereby enhancing 
competition.\17\
---------------------------------------------------------------------------

    \17\ 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.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The Exchange has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \18\ and Rule 19b-4(f)(6) thereunder.\19\ 
Because the 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 prior to 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate, if consistent with the protection of 
investors and the public interest, the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \19\ 17 CFR 240.19b-4(f)(6).

---------------------------------------------------------------------------

[[Page 8316]]

    A proposed rule change filed under Rule 19b-4(f)(6) \20\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b4(f)(6)(iii),\21\ the Commission 
may designate a shorter time if such action is consistent with the 
protection of investors and the public interest.
---------------------------------------------------------------------------

    \20\ 17 CFR 240.19b-4(f)(6).
    \21\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

    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) \22\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \22\ 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-NYSE-2016-01 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.

All submissions should refer to File No. SR-NYSE-2016-01. 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-NYSE-2016-01, and should be 
submitted on or before March 10, 2016.
---------------------------------------------------------------------------

    \23\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\23\
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-03271 Filed 2-17-16; 8:45 am]
BILLING CODE 8011-01-P



                                                                              Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices                                                       8313

                                                  only one method. The Commission will                    2, 2016, New York Stock Exchange LLC                     to have access to the NASDAQ
                                                  post all comments on the Commission’s                   (‘‘NYSE’’ or the ‘‘Exchange’’) filed with                TotalView Ultra (FGPA) market data
                                                  Internet Web site (http://www.sec.gov/                  the Securities and Exchange                              feed through a wireless connection. In
                                                  rules/sro.shtml). Copies of the                         Commission (the ‘‘Commission’’) the                      addition, the proposed rule change
                                                  submission, all subsequent                              proposed rule change as described in                     reflects changes to the Exchange’s Price
                                                  amendments, all written statements                      Items I, II, and III below, which Items                  List related to the proposed service.
                                                  with respect to the proposed rule                       have been prepared by the self-                             The Commission has approved the
                                                  change that are filed with the                          regulatory organization. The                             Exchange’s proposed rule change to
                                                  Commission, and all written                             Commission is publishing this notice to                  provide a wireless connection to five
                                                  communications relating to the                          solicit comments on the proposed rule                    market data feeds from third party
                                                  proposed rule change between the                        change from interested persons.                          markets.6 The Exchange now proposes
                                                  Commission and any person, other than                                                                            to add to its Price List a sixth market
                                                  those that may be withheld from the                     I. Self-Regulatory Organization’s                        data feed, NASDAQ TotalView Ultra
                                                  public in accordance with the                           Statement of the Terms of the Substance                  (FGPA) (‘‘TotalView Ultra’’ and,
                                                  provisions of 5 U.S.C. 552, will be                     of the Proposed Rule Change                              together with the previously filed five
                                                  available for Web site viewing and                         The Exchange proposes to change the                   market data feeds, the ‘‘Third Party
                                                  printing in the Commission’s Public                     co-location services offered by the                      Data’’).
                                                  Reference Room, 100 F Street NE.,                       Exchange to include a means for co-                         As with the previously approved
                                                  Washington, DC 20549 on official                        located Users to receive the NASDAQ                      connectivity to Third Party Data through
                                                  business days between the hours of                      TotalView Ultra (FGPA) market data                       the wireless connection, the Exchange
                                                  10:00 a.m. and 3:00 p.m. Copies of the                  feed through a wireless connection. In                   would utilize a network vendor to
                                                  filing also will be available for                       addition, the proposed rule change                       provide a wireless connection to
                                                  inspection and copying at the principal                 reflects changes to the Exchange’s Price                 TotalView Ultra through wireless
                                                  office of the Exchange. All comments                    List related to the proposed service. The                connections from an Exchange access
                                                  received will be posted without change;                 proposed rule change is available on the                 center to its data center in Mahwah,
                                                  the Commission does not edit personal                   Exchange’s Web site at www.nyse.com,                     New Jersey, through a series of towers
                                                  identifying information from                            at the principal office of the Exchange,                 equipped with wireless equipment. To
                                                  submissions. You should submit only                     and at the Commission’s Public                           receive TotalView Ultra, the User would
                                                  information that you wish to make                       Reference Room.                                          enter into a contract with NASDAQ,
                                                  available publicly. All submissions                                                                              which would charge the User the
                                                  should refer to File Number SR–                         II. Self-Regulatory Organization’s                       applicable market data fees for
                                                  NYSEMKT–2016–23 and should be                           Statement of the Purpose of, and                         TotalView Ultra. The Exchange would
                                                  submitted on or before March 10, 2016.                  Statutory Basis for, the Proposed Rule                   charge the User fees for the wireless
                                                                                                          Change                                                   connection to TotalView Ultra.7
                                                    For the Commission, by the Division of
                                                  Trading and Markets, pursuant to delegated                 In its filing with the Commission, the                   For each wireless connection to
                                                  authority.18                                            self-regulatory organization included                    TotalView Ultra, a User would be
                                                  Robert W. Errett,                                       statements concerning the purpose of,                    charged a $5,000 non-recurring initial
                                                  Deputy Secretary.                                       and basis for, the proposed rule change                  charge and a monthly recurring charge
                                                  [FR Doc. 2016–03266 Filed 2–17–16; 8:45 am]             and discussed any comments it received                   (‘‘MRC’’) of $11,000. The Exchange
                                                  BILLING CODE 8011–01–P
                                                                                                          on the proposed rule change. The text                    proposes to revise its Price List to reflect
                                                                                                          of those statements may be examined at                   fees related to the connection to
                                                                                                          the places specified in Item IV below.                   TotalView Ultra.
                                                  SECURITIES AND EXCHANGE                                 The Exchange has prepared summaries,                        As with the previously approved
                                                  COMMISSION                                              set forth in sections A, B, and C below,                 wireless connections to Third Party
                                                                                                          of the most significant parts of such                    Data, if a User purchased two wireless
                                                  [Release No. 34–77119; File No. SR–NYSE–                statements.                                              connections, it would pay two non-
                                                  2016–01]                                                                                                         recurring initial charges, and the
                                                                                                          A. Self-Regulatory Organization’s                        wireless connection would include the
                                                  Self-Regulatory Organizations; New                      Statement of the Purpose of, and
                                                  York Stock Exchange LLC; Notice of                                                                               use of one port for connectivity to Third
                                                                                                          Statutory Basis for, the Proposed Rule                   Party Data.8 Also as with the previously
                                                  Filing and Immediate Effectiveness of                   Change
                                                  Proposed Rule Change to the Co-                                                                                  approved wireless connections to Third
                                                  Location Services Offered by the                        1. Purpose                                               Party Data, the Exchange proposes to
                                                  Exchange To Include a Means for Co-                        The Exchange proposes to change the
                                                                                                                                                                   specified in the Price List, a User that incurs co-
                                                  Located Users To Receive the                            co-location 4 services offered by the                    location fees for a particular co-location service
                                                  NASDAQ TotalView Ultra Market Data                      Exchange to include a means for Users 5                  pursuant thereto would not be subject to co-location
                                                  Feed Through a Wireless Connection                                                                               fees for the same co-location service charged by the
                                                  and Reflect Changes to the Exchange                        4 The Exchange initially filed rule changes           Exchange’s affiliates NYSE MKT LLC and NYSE
                                                                                                          relating to its co-location services with the            Arca, Inc. See Securities Exchange Act Release No.
                                                  Price List                                                                                                       70206 (August 15, 2013), 78 FR 51765 (August 21,
                                                                                                          Securities and Exchange Commission
                                                                                                          (‘‘Commission’’) in 2010. See Securities Exchange        2013) (SR–NYSE–2013–59).
                                                  February 11, 2016.                                                                                                 6 See Securities Exchange Act Release No. 76748
                                                                                                          Act Release No. 62960 (September 21, 2010), 75 FR
                                                     Pursuant to Section 19(b)(1) 1 of the                59310 (September 27, 2010) (SR–NYSE–2010–56).            (December 23, 2015), 80 FR 81609 (December 30,
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                  Securities Exchange Act of 1934 (the                    The Exchange operates a data center in Mahwah,           2015) (SR–NYSE–2015–52) (‘‘Wireless Approval
                                                  ‘‘Act’’) 2 and Rule 19b–4 thereunder,3                  New Jersey (the ‘‘data center’’) from which it           Release’’).
                                                  notice is hereby given that, on February                provides co-location services to Users.                    7 A User would only receive TotalView Ultra if it
                                                                                                             5 For purposes of the Exchange’s co-location          had entered into a contract with NASDAQ.
                                                    18 17
                                                                                                          services, a ‘‘User’’ means any market participant          8 A User only requires one port to connect to the
                                                          CFR 200.30–3(a)(12).                            that requests to receive co-location services directly   Third Party Data, irrespective of how many of the
                                                    1 15 U.S.C. 78s(b)(1).                                from the Exchange. See Securities Exchange Act           wireless connections it orders. It may, however,
                                                    2 15 U.S.C. 78a.
                                                                                                          Release No. 76008 (September 29, 2015), 80 FR            purchase additional ports. See Wireless Approval
                                                    3 17 CFR 240.19b–4.                                   60190 (October 5, 2015) (SR–NYSE–2015–40). As            Release, at 81610.



                                             VerDate Sep<11>2014   19:03 Feb 17, 2016   Jkt 238001   PO 00000   Frm 00141   Fmt 4703   Sfmt 4703   E:\FR\FM\18FEN1.SGM     18FEN1


                                                  8314                          Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices

                                                  waive the first month’s MRC, to allow                      related fees, and the Exchange is not                      Section 6(b)(4) of the Act,15 in
                                                  Users to test the receipt of TotalView                     aware of any problems that Users would                     particular, because it provides for the
                                                  Ultra for a month before incurring any                     have in complying with the proposed                        equitable allocation of reasonable dues,
                                                  MRCs.                                                      change.                                                    fees, and other charges among its
                                                     The Exchange proposes to offer the                                                                                 members, issuers and other persons
                                                  wireless connection to provide Users                       2. Statutory Basis
                                                                                                                                                                        using its facilities and does not unfairly
                                                  with an alternative means of                                  The Exchange believes that the                          discriminate between customers,
                                                  connectivity to TotalView Ultra.                           proposed rule change is consistent with                    issuers, brokers or dealers.
                                                  Currently, Users can receive TotalView                     Section 6(b) of the Act,13 in general, and                    The Exchange believes that the
                                                  Ultra from wireless networks offered by                    furthers the objectives of Sections                        proposed change is equitable and not
                                                  third party vendors.9 Users may also                       6(b)(4) and 6(b)(5) of the Act,14 in                       unfairly discriminatory because it will
                                                  receive connections to TotalView Ultra                     particular, because it is designed to                      result in fees being charged only to
                                                  through other methods, including, for                      prevent fraudulent and manipulative                        Users that voluntarily select to receive
                                                  example, from another User, through a                      acts and practices, to promote just and                    the corresponding services and because
                                                  telecommunications provider, or over                       equitable principles of trade, to foster                   those services will be available to all
                                                  the internet protocol (‘‘IP’’) network.10                  cooperation and coordination with                          Users. Furthermore, the Exchange
                                                     The wireless connection to the Third                    persons engaged in regulating, clearing,                   believes that the services and fees
                                                  Party Data is expected to be available in                  settling, processing information with                      proposed herein are not unfairly
                                                  January 2016, and no later than March                      respect to, and facilitating transactions                  discriminatory and are equitably
                                                  1, 2016. The Exchange will announce                        in securities, to remove impediments to,                   allocated because, in addition to the
                                                  the date that the wireless connection to                   and perfect the mechanisms of, a free                      services being completely voluntary,
                                                  the Third Party Data will be available                     and open market and a national market                      they are available to all Users on an
                                                  through a customer notice.                                 system and, in general, to protect                         equal basis (i.e., the same products and
                                                     As is the case with all Exchange co-                    investors and the public interest and                      services are available to all Users). All
                                                  location arrangements, (i) neither a User                  because it is not designed to permit                       Users that voluntarily select wireless
                                                  nor any of the User’s customers would                      unfair discrimination between                              connections to TotalView Ultra would
                                                  be permitted to submit orders directly to                  customers, issuers, brokers, or dealers.                   be charged the same amount for the
                                                  the Exchange unless such User or                              The Exchange believes that the                          same services and would have their first
                                                  customer is a member organization, a                       proposed service is not designed to                        month MRC for wireless connections
                                                  Sponsored Participant or an agent                          permit unfair discrimination between                       waived.
                                                  thereof (e.g., a service bureau providing                  customers, issuers, brokers, or dealers                       Overall, the Exchange believes that
                                                  order entry services); (ii) use of the co-                 because the wireless connection to                         the proposed change is reasonable
                                                  location services proposed herein would                    TotalView Ultra would provide Users                        because the Exchange proposes to offer
                                                  be completely voluntary and available                      with an alternative means of                               the wireless connection to TotalView
                                                  to all Users on a non-discriminatory                       connectivity to TotalView Ultra. Users                     Ultra described herein as a convenience
                                                  basis; 11 and (iii) a User would only                      that do not opt to utilize the Exchange’s                  to Users, but in doing so would incur
                                                  incur one charge for the particular co-                    proposed wireless connections would                        certain costs, including costs related to
                                                  location service described herein,                         still be able to obtain TotalView Ultra                    the data center facility, hardware and
                                                  regardless of whether the User connects                    through other methods, including, for                      equipment and costs related to
                                                  only to the Exchange or to the Exchange                    example, from wireless networks offered                    personnel required for initial
                                                  and one or both of its affiliates.12                       by third party vendors, another User,                      installation and monitoring, support
                                                     The proposed change is not otherwise                    through a telecommunications provider,                     and maintenance of such services. The
                                                  intended to address any other issues                       or over the IP network. Users that opt                     costs associated with the wireless
                                                  relating to co-location services and/or                    to use wireless connections to                             connections are incrementally higher
                                                                                                             TotalView Ultra would receive the                          than fiber optics-based solutions due to
                                                     9 Currently, at least four third party vendors offer    TotalView Ultra that is available to all                   the expense of the wireless equipment,
                                                  Users wireless network connections using wireless          Users, as all market participants that                     cost of installation and testing and
                                                  equipment installed on towers and buildings near                                                                      ongoing maintenance of the network.
                                                  the data center.
                                                                                                             contract with NASDAQ for TotalView
                                                     10 The IP network is a local area network available     Ultra may receive it.                                      The Exchange believes that it is
                                                  in the data center. See Securities Exchange Act               The Exchange believes that this                         reasonable that a User that has already
                                                  Release No. 74222 (February 6, 2015), 80 FR 7888           removes impediments to, and perfects                       purchased wireless connections to other
                                                  (February 12, 2015) (SR–NYSE–2015–05) (notice of           the mechanisms of, a free and open                         Third Party Data would be charged a
                                                  filing and immediate effectiveness of proposed rule                                                                   non-recurring charge when it purchases
                                                  change to include IP network connections).
                                                                                                             market and a national market system
                                                     11 As is currently the case, Users that receive co-     and, in general, protects investors and                    a wireless connection to TotalView
                                                  location services from the Exchange will not receive       the public interest because it would                       Ultra, because the Exchange would
                                                  any means of access to the Exchange’s trading and          provide Users with choices with respect                    incur certain costs in installing the
                                                  execution systems that is separate from, or superior       to the form and optimal latency of the                     wireless connection to TotalView Ultra
                                                  to, that of other Users. In this regard, all orders sent
                                                  to the Exchange enter the Exchange’s trading and           connectivity they use to receive                           irrespective of whether the User had
                                                  execution systems through the same order gateway,          TotalView Ultra, allowing a User that                      existing wireless connections to Third
                                                  regardless of whether the sender is co-located in the      opts to receive TotalView Ultra to select                  Party Data. Such costs related to initial
                                                  data center or not. In addition, co-located Users do       the connectivity and number of ports                       installation include, in particular, costs
                                                  not receive any market data or data service product
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                  that is not available to all Users, although Users that    that better suit its needs, helping it                     related to personnel required for initial
                                                  receive co-location services normally would expect         tailor its data center operations to the                   installation and testing. The costs
                                                  reduced latencies in sending orders to, and                requirements of its business operations.                   associated with installing wireless
                                                  receiving market data from, the Exchange.                     The Exchange also believes that the                     connections are incrementally higher
                                                     12 See SR–NYSE–2013–59, supra note 5 at 51766.
                                                                                                             proposed rule change is consistent with                    than those associated with installing
                                                  The Exchange’s affiliates have also submitted
                                                  substantially the same proposed rule change to                                                                        fiber optics-based solutions.
                                                                                                              13 15   U.S.C. 78f(b).
                                                  propose the changes described herein. See SR–
                                                  NYSEMKT–2016–02 and SR–NYSEArca–2016–04.                    14 15   U.S.C. 78f(b)(4), (5).                              15 15   U.S.C. 78f(b)(4).



                                             VerDate Sep<11>2014    19:03 Feb 17, 2016   Jkt 238001   PO 00000   Frm 00142      Fmt 4703       Sfmt 4703   E:\FR\FM\18FEN1.SGM    18FEN1


                                                                                 Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices                                                    8315

                                                     The Exchange believes that the                          same products and services are available              equipment. Moreover, access to the pole
                                                  proposed pricing for the wireless                          to all Users).                                        or roof is not required for third parties
                                                  connection to TotalView Ultra is                              The Exchange believes that allowing                to establish wireless networks that can
                                                  reasonable because it allows Users to                      Users to receive TotalView Ultra                      compete with the Exchange’s proposed
                                                  select the TotalView Ultra connectivity                    through a wireless connection will not                service, as witnessed by the existing
                                                  option that better suits their needs. The                  impose any burden on competition that                 wireless networks currently serving
                                                  fees also reflect the benefit received by                  is not necessary or appropriate in                    Users. Based on the information
                                                  Users in terms of lower latency over the                   furtherance of the purposes of the Act                available to it, the Exchange believes
                                                  fiber optics option. The Exchange                          because such access will satisfy User                 that its proposed wireless connection to
                                                  believes that the proposed waiver of the                   demand for additional options for                     TotalView Ultra would provide data at
                                                  first month’s MRC is reasonable as it                      connectivity to TotalView Ultra.                      the same or similar speed, and at the
                                                  would allow Users to test the receipt of                   Currently, Users can receive TotalView                same or similar cost, as its proposed
                                                  the feed for a month before incurring                      Ultra from wireless networks offered by               wireless connection [sic], thereby
                                                  any monthly recurring fees and may act                     third party vendors. Based on the                     enhancing competition.17
                                                  as an incentive to Users to connect to                     information available to it, the Exchange
                                                                                                             believes that its proposed wireless                     Finally, the Exchange notes that it
                                                  TotalView Ultra.
                                                                                                             connection would provide data at the                  operates in a highly competitive market
                                                     Moreover, the fees are equity [sic]                                                                           in which market participants can
                                                                                                             same or similar speed and at the same
                                                  allocated and not unfairly                                                                                       readily favor competing venues if they
                                                                                                             or similar cost as the other wireless
                                                  discriminatory because the wireless                                                                              deem fee levels at a particular venue to
                                                                                                             networks. Accordingly, the proposed
                                                  connection to TotalView Ultra would                                                                              be excessive. In such an environment,
                                                                                                             wireless connection to TotalView Ultra
                                                  provide Users with an alternative means                                                                          the Exchange must continually review,
                                                                                                             would provide Users with an additional
                                                  of connectivity to TotalView Ultra.                                                                              and consider adjusting, its services and
                                                                                                             wireless connectivity option, thereby
                                                  Users that do not opt to utilize the                                                                             related fees and credits to remain
                                                                                                             enhancing competition.
                                                  Exchange’s proposed wireless                                  The Exchange notes that the proposed               competitive with other exchanges. For
                                                  connections would still be able to obtain                  wireless connection to TotalView Ultra                the reasons described above, the
                                                  TotalView Ultra through other methods,                     would compete not just with other                     Exchange believes that the proposed
                                                  including, for example, from wireless                      wireless connections to TotalView                     rule change reflects this competitive
                                                  networks offered by third party vendors,                   Ultra, but also with fiber optic network              environment.
                                                  another User, through a                                    connections to TotalView Ultra, which
                                                  telecommunications provider, or over                       may be more attractive to some Users as               C. Self-Regulatory Organization’s
                                                  the IP network. Users that opt to use                      they are more reliable and less                       Statement on Comments on the
                                                  wireless connections to TotalView Ultra                    susceptible to weather conditions. Users              Proposed Rule Change Received From
                                                  would receive the TotalView Ultra that                     that do not opt to utilize wireless                   Members, Participants, or Others
                                                  is available to all Users, as all market                   connections would be able to obtain
                                                  participants that contract with NASDAQ                                                                             No written comments were solicited
                                                                                                             TotalView Ultra through other methods,
                                                  for TotalView Ultra may receive it.                                                                              or received with respect to the proposed
                                                                                                             including, for example, from another
                                                                                                                                                                   rule change.
                                                     For the reasons above, the proposed                     User, through a telecommunications
                                                  changes do not unfairly discriminate                       provider, or over the IP network. In this             III. Date of Effectiveness of the
                                                  between or among market participants                       way, the proposed changes would                       Proposed Rule Change and Timing for
                                                  that are otherwise capable of satisfying                   enhance competition by helping Users                  Commission Action
                                                  any applicable co-location fees,                           tailor their connectivity to TotalView
                                                  requirements, terms and conditions                         Ultra to the needs of their business                     The Exchange has filed the proposed
                                                  established from time to time by the                       operations by allowing them to select                 rule change pursuant to Section
                                                  Exchange.                                                  the form and optimal latency of the                   19(b)(3)(A)(iii) of the Act 18 and Rule
                                                     Finally, the Exchange believes that it                  connectivity they use to receive                      19b–4(f)(6) thereunder.19 Because the
                                                  is subject to significant competitive                      TotalView Ultra that best suits their                 proposed rule change does not: (i)
                                                  forces, as described below in the                          needs, helping them tailor their data                 Significantly affect the protection of
                                                  Exchange’s statement regarding the                         center operations to the requirements of              investors or the public interest; (ii)
                                                  burden on competition.                                     their business operations.                            impose any significant burden on
                                                                                                                The proposed wireless connection to                competition; and (iii) become operative
                                                     For these reasons, the Exchange                         TotalView Ultra would traverse wireless               prior to 30 days from the date on which
                                                  believes that the proposed fees are                        connections through a series of towers                it was filed, or such shorter time as the
                                                  reasonable, equitable, and not unfairly                    equipped with wireless equipment,                     Commission may designate, if
                                                  discriminatory.                                            including a pole on the grounds of the                consistent with the protection of
                                                  B. Self-Regulatory Organization’s                          data center. The proposed wireless                    investors and the public interest, the
                                                  Statement on Burden on Competition                         network would have exclusive rights to                proposed rule change has become
                                                                                                             operate wireless equipment on the data                effective pursuant to Section 19(b)(3)(A)
                                                    In accordance with Section 6(b)(8) of                    center pole. The Exchange will not sell               of the Act and Rule 19b–4(f)(6)(iii)
                                                  the Act,16 the Exchange believes that the                  rights to third parties to operate wireless           thereunder.
                                                  proposed rule change will not impose                       equipment on the pole, due to space
                                                  any burden on competition that is not
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                                                                             limitations, security concerns, and the                  17 The Exchange notes that the distance of a
                                                  necessary or appropriate in furtherance                    interference that would arise between                 wireless network provider’s wireless equipment
                                                  of the purposes of the Act because, in                     equipment placed too closely together.                from the User is only one factor in determining
                                                  addition to the proposed services being                    In addition to space issues, there are                overall latency. Other factors include the number of
                                                  completely voluntary, they are available                                                                         repeaters in the route, the number of switches the
                                                                                                             contractual restrictions on the use of the            data has to travel through, and the millimeter wave
                                                  to all Users on an equal basis (i.e. the                   roof that the Exchange has determined                 and switch technology used.
                                                                                                             would not be met if it offered space on                  18 15 U.S.C. 78s(b)(3)(A)(iii).
                                                    16 15   U.S.C. 78f(b)(8).                                the roof for third party wireless                        19 17 CFR 240.19b–4(f)(6).




                                             VerDate Sep<11>2014      19:03 Feb 17, 2016   Jkt 238001   PO 00000   Frm 00143   Fmt 4703   Sfmt 4703   E:\FR\FM\18FEN1.SGM   18FEN1


                                                  8316                         Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices

                                                     A proposed rule change filed under                   public in accordance with the                         I. Self-Regulatory Organization’s
                                                  Rule 19b–4(f)(6) 20 normally does not                   provisions of 5 U.S.C. 552, will be                   Statement of the Terms of the Substance
                                                  become operative prior to 30 days after                 available for Web site viewing and                    of the Proposed Rule Change
                                                  the date of the filing. However, pursuant               printing in the Commission’s Public                      The Exchange proposes to change the
                                                  to Rule 19b4(f)(6)(iii),21 the Commission               Reference Room, 100 F Street NE.,                     co-location services offered by the
                                                  may designate a shorter time if such                    Washington, DC 20549 on official                      Exchange to include a means for co-
                                                  action is consistent with the protection                business days between the hours of                    located Users to receive the NASDAQ
                                                  of investors and the public interest.                   10:00 a.m. and 3:00 p.m. Copies of such               TotalView Ultra (FGPA) market data
                                                     At any time within 60 days of the                    filing also will be available for                     feed through a wireless connection. In
                                                  filing of such proposed rule change, the                inspection and copying at the principal               addition, the proposed rule change
                                                  Commission summarily may                                office of the Exchange. All comments                  reflects changes to the NYSE MKT
                                                  temporarily suspend such rule change if                 received will be posted without change;               Equities Price List (‘‘Price List’’) and the
                                                  it appears to the Commission that such                  the Commission does not edit personal                 NYSE Amex Options Fee Schedule
                                                  action is necessary or appropriate in the               identifying information from                          (‘‘Fee Schedule’’) related to the
                                                  public interest, for the protection of                  submissions. You should submit only                   proposed service. The proposed rule
                                                  investors, or otherwise in furtherance of               information that you wish to make                     change is available on the Exchange’s
                                                  the purposes of the Act. If the                         available publicly. All submissions                   Web site at www.nyse.com, at the
                                                  Commission takes such action, the                       should refer to File No. SR–NYSE–                     principal office of the Exchange, and at
                                                  Commission shall institute proceedings                  2016–01, and should be submitted on or                the Commission’s Public Reference
                                                  under Section 19(b)(2)(B) 22 of the Act to              before March 10, 2016.                                Room.
                                                  determine whether the proposed rule                       For the Commission, by the Division of
                                                  change should be approved or                                                                                  II. Self-Regulatory Organization’s
                                                                                                          Trading and Markets, pursuant to delegated
                                                  disapproved.                                                                                                  Statement of the Purpose of, and
                                                                                                          authority.23
                                                                                                                                                                Statutory Basis for, the Proposed Rule
                                                  IV. Solicitation of Comments                            Robert W. Errett,                                     Change
                                                                                                          Deputy Secretary.
                                                    Interested persons are invited to                                                                              In its filing with the Commission, the
                                                  submit written data, views, and                         [FR Doc. 2016–03271 Filed 2–17–16; 8:45 am]
                                                                                                                                                                self-regulatory organization included
                                                  arguments concerning the foregoing,                     BILLING CODE 8011–01–P
                                                                                                                                                                statements concerning the purpose of,
                                                  including whether the proposed rule                                                                           and basis for, the proposed rule change
                                                  change is consistent with the Act.                                                                            and discussed any comments it received
                                                  Comments may be submitted by any of                     SECURITIES AND EXCHANGE
                                                                                                                                                                on the proposed rule change. The text
                                                  the following methods:                                  COMMISSION
                                                                                                                                                                of those statements may be examined at
                                                  Electronic Comments                                     [Release No. 34–77120; File No. SR–                   the places specified in Item IV below.
                                                                                                          NYSEMKT–2016–02]                                      The Exchange has prepared summaries,
                                                    • Use the Commission’s Internet                                                                             set forth in sections A, B, and C below,
                                                  comment form (http://www.sec.gov/                       Self-Regulatory Organizations; NYSE                   of the most significant parts of such
                                                  rules/sro.shtml); or                                    MKT LLC; Notice of Filing and                         statements.
                                                    • Send an email to rule-comments@                     Immediate Effectiveness of Proposed
                                                  sec.gov. Please include File No. SR–                    Rule Change to the Co-location                        A. Self-Regulatory Organization’s
                                                  NYSE–2016–01 on the subject line.                       Services Offered by the Exchange To                   Statement of the Purpose of, and
                                                                                                          Include a Means for Co-located Users                  Statutory Basis for, the Proposed Rule
                                                  Paper Comments                                                                                                Change
                                                                                                          To Receive the NASDAQ TotalView
                                                     • Send paper comments in triplicate                  Ultra Market Data Feed Through a                      1. Purpose
                                                  to Secretary, Securities and Exchange                   Wireless Connection and Reflect
                                                  Commission, 100 F Street NE.,                                                                                    The Exchange proposes to change the
                                                                                                          Changes to the NYSE MKT Equities                      co-location 4 services offered by the
                                                  Washington, DC 20549–1090.                              Price List and the NYSE Amex Options
                                                  All submissions should refer to File No.                                                                      Exchange to include a means for Users 5
                                                                                                          Fee Schedule                                          to have access to the NASDAQ
                                                  SR–NYSE–2016–01. This file number
                                                  should be included on the subject line                  February 11, 2016.                                    TotalView Ultra (FGPA) market data
                                                  if email is used. To help the                              Pursuant to Section 19(b)(1) 1 of the                 4 The Exchange initially filed rule changes
                                                  Commission process and review your                      Securities Exchange Act of 1934 (the                  relating to its co-location services with the
                                                  comments more efficiently, please use                   ‘‘Act’’) 2 and Rule 19b–4 thereunder,3                Securities and Exchange Commission
                                                  only one method. The Commission will                    notice is hereby given that on February               (‘‘Commission’’) in 2010. See Securities Exchange
                                                                                                          2, 2016, NYSE MKT LLC (the                            Act Release No. 62961 (September 21, 2010), 75 FR
                                                  post all comments on the Commission’s                                                                         59299 (September 27, 2010) (SR–NYSEAmex–2010–
                                                  Internet Web site (http://www.sec.gov/                  ‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with              80). The Exchange operates a data center in
                                                  rules/sro.shtml). Copies of the                         the Securities and Exchange                           Mahwah, New Jersey (the ‘‘data center’’) from
                                                  submission, all subsequent                              Commission (the ‘‘Commission’’) the                   which it provides co-location services to Users.
                                                                                                                                                                   5 For purposes of the Exchange’s co-location
                                                  amendments, all written statements                      proposed rule change as described in
                                                                                                                                                                services, a ‘‘User’’ means any market participant
                                                  with respect to the proposed rule                       Items I, II, and III below, which Items               that requests to receive co-location services directly
                                                  change that are filed with the                          have been prepared by the self-                       from the Exchange. See Securities Exchange Act
                                                  Commission, and all written                             regulatory organization. The                          Release No. 76009 (September 29, 2015), 80 FR
mstockstill on DSK4VPTVN1PROD with NOTICES




                                                                                                          Commission is publishing this notice to               60213 (October 5, 2015) (SR–NYSEMKT–2015–67).
                                                  communications relating to the                                                                                As specified in the Price List and Fee Schedule, a
                                                  proposed rule change between the                        solicit comments on the proposed rule                 User that incurs co-location fees for a particular co-
                                                  Commission and any person, other than                   change from interested persons.                       location service pursuant thereto would not be
                                                  those that may be withheld from the                                                                           subject to co-location fees for the same co-location
                                                                                                            23 17
                                                                                                                                                                service charged by the Exchange’s affiliates New
                                                                                                                  CFR 200.30–3(a)(12).                          York Stock Exchange LLC and NYSE Arca, Inc. See
                                                    20 17 CFR 240.19b–4(f)(6).                              1 15 U.S.C. 78s(b)(1).                              Securities Exchange Act Release No. 70176 (August
                                                    21 17 CFR 240.19b–4(f)(6)(iii).                         2 15 U.S.C. 78a.
                                                                                                                                                                13, 2013), 78 FR 50471 (August 19, 2013) (SR–
                                                    22 15 U.S.C. 78s(b)(2)(B).                              3 17 CFR 240.19b–4.                                 NYSEMKT–2013–67).



                                             VerDate Sep<11>2014   19:03 Feb 17, 2016   Jkt 238001   PO 00000   Frm 00144   Fmt 4703   Sfmt 4703   E:\FR\FM\18FEN1.SGM   18FEN1



Document Created: 2016-02-18 07:46:56
Document Modified: 2016-02-18 07:46:56
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
FR Citation81 FR 8313 

2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR