82 FR 10942 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change Amending Rule 98
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 31 (February 16, 2017)
Federal Register Volume 82, Issue 31 (February 16, 2017)
| Page Range | 10942-10944 | |
| FR Document | 2017-03108 |
[Federal Register Volume 82, Number 31 (Thursday, February 16, 2017)] [Notices] [Pages 10942-10944] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-03108] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-80019; File No. SR-NYSE-2017-03] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change Amending Rule 98 February 10, 2017. 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 January 26, 2017, 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 Substance of the Proposed Rule Change The Exchange proposes to amend Rule 98 to provide that, while on the Trading Floor, Designated Market Makers (``DMM'') must trade DMM securities at their assigned stock trading post location and may not trade any security that is a related product of their DMM securities. The proposed rule change is available on the Exchange's Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend Rule 98 to provide that, while on the Trading Floor, DMMs must trade DMM securities at their assigned stock trading post location and may not trade any security that is a related product of their DMM securities.\4\ --------------------------------------------------------------------------- \4\ As defined in Rule 2(i), the term ``DMM'' means an individual member, officer, partner, employee or associated person of a Designated Market Maker Unit who is approved by the Exchange to act in the capacity of a DMM. The term ``DMM securities'' is defined in Rule 98(a)(2) to mean any securities allocated to the DMM unit pursuant to Rule 103B or other applicable rules. The term ``related products'' is defined in Rule 98(a)(7) to mean any derivative instrument that is related to a DMM security, including options, warrants, hybrid securities, single-stock futures, security-based swap agreement, a forward contract, or any other instrument that is exercisable into or whose price is based upon or derived from a security traded at the Exchange. --------------------------------------------------------------------------- Background Rule 98 governs the operation of a DMM unit and paragraph (c)(3) of that rule specifies restrictions on trading for member organizations operating a DMM unit. More specifically, Rule 98(c)(3)(B) provides that, while on the Trading Floor \5\ of the Exchange, employees of the DMM unit: --------------------------------------------------------------------------- \5\ As defined in Rule 6A, the term ``Trading Floor'' means the restricted-access physical areas designated by the Exchange for the trading of securities, commonly known as the ``Main Room'' and the ``Buttonwood Room'' and does not include (i) the areas in the ``Buttonwood Room'' designated by the Exchange where NYSE Amex- listed options are traded, which, for the purposes of the Exchange's Rules, shall be referred to as the ``NYSE Amex Options Trading Floor'' or (ii) the physical area within fully enclosed telephone booths located in 18 Broad Street at the Southeast wall of the Trading Floor. --------------------------------------------------------------------------- (i) Except as provided for in Rule 36.30,\6\ may trade only DMM securities only on or through the systems and facilities of the Exchange as permitted by Exchange rules. --------------------------------------------------------------------------- \6\ Rule 36.30 permits a DMM unit that is registered in an Investment Company Unit (as defined in Section 703.16 of the Listed Company Manual) or a Trust Issued Receipt (as that term is defined in Rule 1200) to use a telephone connection or order entry terminal at the DMM unit's post to enter proprietary orders in the Unit or receipt in another market center, in a Component Security of such a Unit or receipt, or an options or futures contract related to such Unit or receipt, and may use the post telephone to obtain market information with respect to such Units, receipts, options, futures or Component Securities. --------------------------------------------------------------------------- (ii) except as provided for in Rules 36.30, may not communicate with individuals or systems responsible for making trading decisions for related products or for away-market trading in their assigned DMM securities. (iii) shall not have access to customer information or the DMM unit's position in related products. Accordingly, under current Rule 98, while on the Trading Floor, DMMs may only trade DMM securities and, thus, may not trade any other securities, including securities that are related products to their DMM securities. Proposed Rule Change The Exchange proposes to amend Rule 98 to remove restrictions to DMM operations on the Trading Floor that are unrelated to the unique role of DMMs at the Exchange. Specifically, as described in Rule 104, DMMs have specified obligations with respect to their DMM securities and have access to specified non-public order information regarding their DMM securities.\7\ However, DMMs do not have a unique role or access to any non-public order information with respect to securities that are not assigned to them under Rule 103B. The [[Page 10943]] Exchange therefore believes that the current Rule 98 restrictions are unnecessarily broad. --------------------------------------------------------------------------- \7\ See, e.g., Rule 104(a) and (j). --------------------------------------------------------------------------- Accordingly, the Exchange proposes to amend Rule 98(c)(3)(B)(i) to provide that, while on the Trading Floor, employees of the DMM unit may trade DMM securities only on or through the systems and facilities of the Exchange at the DMM unit's assigned stock trading post location and as permitted by Exchange rules. Because the proposed rule would no longer specify the only securities that a DMM is permitted to trade, the Exchange proposes to delete the clause ``except as provided for in Rule 36.30.'' The Exchange also proposes to add new Rule 98(c)(3)(B)(ii) to provide that while on the Trading Floor of the Exchange, employees of the DMM unit may not trade any security that is a related product of its DMM securities. The Exchange would renumber current Rules 98(c)(3)(B)(ii) and (iii) as new Rules 98(c)(3)(B)(iii) and (iv). As a result of these proposed changes, DMMs would no longer be restricted from trading securities that are unrelated to DMM securities while on the Trading Floor. However, the proposed amendments would continue to require that, while on the Trading Floor, DMMs would not be able to trade any securities that are related products to DMM securities. The proposed amendment would also add a new requirement that DMMs may only trade their DMM securities at their assigned stock trading post. The proposed rule change would allow Exchange DMMs that are also NYSE MKT LLC (``NYSE MKT'') DMMs to continue to operate. Currently, NYSE MKT's cash equities trading operations share a Floor with the Exchange.\8\ DMMs who are also approved as NYSE MKT DMMs currently trade in both NYSE-listed DMM securities and NYSE MKT-listed DMM securities from the same physical location on the exchanges' respective Trading Floors.\9\ NYSE MKT has proposed to transition from a Floor- based trading model to a fully automated trading model.\10\ After such transition, NYSE MKT would continue to have electronic-access DMMs that would be the same member organizations that are currently operating as Floor-based NYSE MKT DMMs. The proposed amendment to Rule 98 would permit NYSE DMMs to continue to support their electronic NYSE MKT DMM functions in the same physical location where they are currently operating. --------------------------------------------------------------------------- \8\ Compare NYSE MKT Rule 6--Equities with NYSE Rule 6. \9\ NYSE MKT DMMs operate under the NYSE MKT Rule 98--Equities. \10\ See SR-NYSEMKT-2017-1 (``NYSE MKT Trading Rules Filing''). Subject to rule approval, NYSE MKT anticipates transitioning off of its Floor in the second quarter of 2017. --------------------------------------------------------------------------- 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(5) \11\ that an Exchange have rules that are designed to promote the just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest. The Exchange believes that the proposed change would remove impediments to and perfect the mechanism of a free and open market and a national market system because it would remove a restriction on DMMs from trading securities while on the Trading Floor that is unrelated to their role as a DMM. The Exchange also believes that the proposed rule change would remove impediments to and perfect the mechanism of a free and open market and a national market system because it would maintain restrictions on DMM trading while on the Trading Floor that are narrowly drawn to reflect the unique role of the DMM. The Exchange further believes that the proposed rule change would remove impediments to and perfect the mechanism of a free and open market and a national market system because it would enable NYSE DMMs that also operate NYSE MKT DMMs to continue to support their NYSE MKT DMM operations after NYSE MKT transitions to be a fully automated trading market. --------------------------------------------------------------------------- \11\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- B. Self-Regulatory Organization's Statement on Burden on Competition The Exchange does not believe that the proposed rule change would impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. The proposed rule change is designed to be pro-competitive because it would remove a restriction unique to DMMs, as specified in Rule 98, that limits which securities a DMM may trade while on the Trading Floor. No other member that trades on the Floor is subject to similar restrictions and the restrictions that the Exchange proposes to remove are unrelated to the DMM's unique role at the Exchange vis-[agrave]-vis their DMM securities. The proposed amendment would also promote competition because it would facilitate NYSE DMMs to be able to continue supporting their NYSE MKT DMM operations once NYSE MKT transitions to be a fully automated trading market. 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 Within 45 days of the date of publication of this notice in the Federal Register or up to 90 days (i) as the Commission may designate if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve or disapprove the proposed rule change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or Send an email to rule-comments@sec.gov. Please include File Number SR-NYSE-2017-03 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 Number SR-NYSE-2017-03. 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 [[Page 10944]] Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSE-2017-03 and should be submitted on or before March 9, 2017. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\12\ --------------------------------------------------------------------------- \12\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-03108 Filed 2-15-17; 8:45 am] BILLING CODE 8011-01-P
![10942 Federal Register / Vol. 82, No. 31 / Thursday, February 16, 2017 / Notices
Steering Group (‘‘ISC’’) and an industry Items I, II, and III below, which Items Background
working group to facilitate the transition have been prepared by the self- Rule 98 governs the operation of a
to a T+2 settlement cycle for U.S. trades regulatory organization. The DMM unit and paragraph (c)(3) of that
in equities, corporate and municipal Commission is publishing this notice to rule specifies restrictions on trading for
bonds, and unit investment trusts.16 The solicit comments on the proposed rule member organizations operating a DMM
ISC has identified September 5, 2017, as change from interested persons. unit. More specifically, Rule 98(c)(3)(B)
the target date for the transition to a T+2
I. Self-Regulatory Organization’s provides that, while on the Trading
settlement cycle to occur.17
Statement of the Terms of Substance of Floor 5 of the Exchange, employees of
For the reasons noted above, the
Commission finds that the proposal is the Proposed Rule Change the DMM unit:
consistent with the requirements of the (i) Except as provided for in Rule
The Exchange proposes to amend 36.30,6 may trade only DMM securities
Act and would foster cooperation and Rule 98 to provide that, while on the
coordination with persons engaged in only on or through the systems and
Trading Floor, Designated Market facilities of the Exchange as permitted
regulating, clearing, settling, processing Makers (‘‘DMM’’) must trade DMM
information with respect to, and by Exchange rules.
securities at their assigned stock trading (ii) except as provided for in Rules
facilitating transactions in securities, to post location and may not trade any
remove impediments to and perfect the 36.30, may not communicate with
security that is a related product of their individuals or systems responsible for
mechanism of a free and open market DMM securities. The proposed rule
and a national market system, and to making trading decisions for related
change is available on the Exchange’s products or for away-market trading in
protect investors and the public interest. Web site at www.nyse.com, at the their assigned DMM securities.
IV. Conclusion principal office of the Exchange, and at (iii) shall not have access to customer
It is therefore ordered, pursuant to the Commission’s Public Reference information or the DMM unit’s position
Section 19(b)(2) of the Act,18 that the Room. in related products.
proposed rule change (SR–NYSEMKT– II. Self-Regulatory Organization’s Accordingly, under current Rule 98,
2016–119), be and hereby is, approved. Statement of the Purpose of, and while on the Trading Floor, DMMs may
For the Commission, by the Division of Statutory Basis for, the Proposed Rule only trade DMM securities and, thus,
Trading and Markets, pursuant to delegated Change may not trade any other securities,
authority.19 including securities that are related
Eduardo A. Aleman, In its filing with the Commission, the products to their DMM securities.
Assistant Secretary. self-regulatory organization included
Proposed Rule Change
statements concerning the purpose of,
[FR Doc. 2017–03109 Filed 2–15–17; 8:45 am]
and basis for, the proposed rule change The Exchange proposes to amend
BILLING CODE 8011–01–P
and discussed any comments it received Rule 98 to remove restrictions to DMM
on the proposed rule change. The text operations on the Trading Floor that are
of those statements may be examined at unrelated to the unique role of DMMs at
SECURITIES AND EXCHANGE
the places specified in Item IV below. the Exchange. Specifically, as described
COMMISSION
The Exchange has prepared summaries, in Rule 104, DMMs have specified
[Release No. 34–80019; File No. SR–NYSE– set forth in sections A, B, and C below, obligations with respect to their DMM
2017–03] of the most significant parts of such securities and have access to specified
statements. non-public order information regarding
Self-Regulatory Organizations; New their DMM securities.7 However, DMMs
York Stock Exchange LLC; Notice of A. Self-Regulatory Organization’s do not have a unique role or access to
Filing of Proposed Rule Change Statement of the Purpose of, and the any non-public order information with
Amending Rule 98 Statutory Basis for, the Proposed Rule respect to securities that are not
Change assigned to them under Rule 103B. The
February 10, 2017.
Pursuant to Section 19(b)(1) 1 of the 1. Purpose
5 As defined in Rule 6A, the term ‘‘Trading Floor’’
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3 The Exchange proposes to amend means the restricted-access physical areas
Rule 98 to provide that, while on the designated by the Exchange for the trading of
notice is hereby given that, on January securities, commonly known as the ‘‘Main Room’’
26, 2017, New York Stock Exchange Trading Floor, DMMs must trade DMM and the ‘‘Buttonwood Room’’ and does not include
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed securities at their assigned stock trading (i) the areas in the ‘‘Buttonwood Room’’ designated
with the Securities and Exchange post location and may not trade any by the Exchange where NYSE Amex-listed options
security that is a related product of their are traded, which, for the purposes of the
Commission (the ‘‘Commission’’) the Exchange’s Rules, shall be referred to as the ‘‘NYSE
proposed rule change as described in DMM securities.4 Amex Options Trading Floor’’ or (ii) the physical
area within fully enclosed telephone booths located
16 See Press Release, DTCC, Industry Steering 4 As defined in Rule 2(i), the term ‘‘DMM’’ means in 18 Broad Street at the Southeast wall of the
an individual member, officer, partner, employee or Trading Floor.
Committee and Working Group Formed to Drive 6 Rule 36.30 permits a DMM unit that is registered
Implementation of T+2 in the U.S. (Oct. 2014), associated person of a Designated Market Maker
http://www.dtcc.com/news/2014/october/16/ Unit who is approved by the Exchange to act in the in an Investment Company Unit (as defined in
ust2.aspx. capacity of a DMM. The term ‘‘DMM securities’’ is Section 703.16 of the Listed Company Manual) or
a Trust Issued Receipt (as that term is defined in
asabaliauskas on DSK3SPTVN1PROD with NOTICES
17 See Press Release, ISC, U.S. T+2 ISC defined in Rule 98(a)(2) to mean any securities
allocated to the DMM unit pursuant to Rule 103B Rule 1200) to use a telephone connection or order
Recommends Move to Shorter Settlement Cycle On
or other applicable rules. The term ‘‘related entry terminal at the DMM unit’s post to enter
September 5, 2017 (Mar. 7, 2016), http://
products’’ is defined in Rule 98(a)(7) to mean any proprietary orders in the Unit or receipt in another
www.ust2.com/pdfs/T2-ISC-recommends-shorter-
derivative instrument that is related to a DMM market center, in a Component Security of such a
settlement-030716.pdf.
18 15 U.S.C. 78s(b)(2). security, including options, warrants, hybrid Unit or receipt, or an options or futures contract
securities, single-stock futures, security-based swap related to such Unit or receipt, and may use the
19 17 CFR 200.30–3(a)(12).
agreement, a forward contract, or any other post telephone to obtain market information with
1 15 U.S.C. 78s(b)(1).
instrument that is exercisable into or whose price respect to such Units, receipts, options, futures or
2 15 U.S.C. 78a. Component Securities.
is based upon or derived from a security traded at
3 17 CFR 240.19b–4. the Exchange. 7 See, e.g., Rule 104(a) and (j).
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![10944 Federal Register / Vol. 82, No. 31 / Thursday, February 16, 2017 / Notices
Commission and any person, other than for distribution of an Enhanced Display and Level 2, and a monthly per-
those that may be withheld from the Solution from $30,000 to $33,500, as subscriber rate of $6 for OpenView. The
public in accordance with the described further below. monthly per-subscriber fees for
provisions of 5 U.S.C. 552, will be While these amendments are effective Distributors that elect not to purchase
available for Web site viewing and upon filing, the Exchange has an EDS Enterprise License fee are $74
printing in the Commission’s Public designated the proposed amendments to for TotalView and Level 2 and $6 for
Reference Room, 100 F Street NE., be operative on February 1, 2017. OpenView, as provided in Rule
Washington, DC 20549 on official The text of the proposed rule change 7026(a)(1)(B). All Distributors who
business days between the hours of is available on the Exchange’s Web site purchase an EDS, whether or not an
10:00 a.m. and 3:00 p.m. Copies of the at http://nasdaq.cchwallstreet.com, at Enterprise License is purchased, must
filing also will be available for the principal office of the Exchange, and pay the distributor fees set forth in Rule
inspection and copying at the principal at the Commission’s Public Reference 7026(a)(1)(A). The Enterprise License is
office of the Exchange. All comments Room. designed to provide a lower fee to the
received will be posted without change; largest Distributors of depth-of-book
the Commission does not edit personal II. Self-Regulatory Organization’s
data to encourage distribution of such
identifying information from Statement of the Purpose of, and
data.
submissions. You should submit only Statutory Basis for, the Proposed Rule
information that you wish to make Change Proposed Changes
available publicly. All submissions In its filing with the Commission, the The Exchange proposes to raise the
should refer to File Number SR–NYSE– Exchange included statements monthly EDS Enterprise License fee
2017–03 and should be submitted on or concerning the purpose of and basis for from $30,000 to $33,500, and to correct
before March 9, 2017. the proposed rule change and discussed a cross reference to Rule 7023.
For the Commission, by the Division of any comments it received on the
Trading and Markets, pursuant to delegated proposed rule change. The text of these EDS Enterprise License
authority.12 statements may be examined at the The proposed increase in the monthly
Eduardo A. Aleman, places specified in Item IV below. The EDS Enterprise License fee is reasonable
Assistant Secretary. Exchange has prepared summaries, set in light of the value of EDS to
[FR Doc. 2017–03108 Filed 2–15–17; 8:45 am] forth in sections A, B, and C below, of Distributors and Subscribers, which has
BILLING CODE 8011–01–P the most significant aspects of such increased significantly due to
statements. technological advances that have
A. Self-Regulatory Organization’s occurred since EDS was introduced in
SECURITIES AND EXCHANGE Statement of the Purpose of, and January of 2012, particularly for those
COMMISSION Statutory Basis for, the Proposed Rule Distributors with sufficient volume to
[Release No. 34–80015; File No. SR– Change purchase an Enterprise License.
NASDAQ–2017–007] The key feature of EDS—the
1. Purpose
capability of connecting to an API—
Self-Regulatory Organizations; The The purpose of the proposed rule allows the Subscriber to transfer Nasdaq
NASDAQ Stock Market LLC; Notice of change is to raise the monthly data to any number of applications.
Filing and Immediate Effectiveness of Enterprise License fee for distribution of When EDS was first introduced, data
Proposed Rule Change To Amend the an Enhanced Display Solution from was transferred to relatively simple
Exchange’s Data Fees at Rule 7026 $30,000 to $33,500, and to correct a applications, such as spreadsheets.
February 10, 2017. cross reference to Rule 7023. Since 2012, EDS has become more
Pursuant to Section 19(b)(1) of the EDS Enterprise License valuable as the use of the API has
Securities Exchange Act of 1934 moved from spreadsheets to complex
An Enhanced Display Solution analytic tools, enhancing the value of
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
(‘‘EDS’’) provides a display of Nasdaq EDS to both Subscribers and
notice is hereby given that, on January
depth-of-book data—data feeds with Distributors.
30, 2017, The NASDAQ Stock Market
price quotations at more than one price Distributors that purchase EDS
LLC (‘‘Nasdaq’’ or ‘‘Exchange’’) filed
level, such as TotalView, OpenView and through the Enterprise License are
with the Securities and Exchange
Level 2—with the capability of among the greatest beneficiaries of EDS
Commission (‘‘SEC’’ or ‘‘Commission’’)
connecting to an Application because they have the largest number of
the proposed rule change as described
Programming Interface (‘‘API’’). The API Subscribers. They are also in the best
in Items I, II, and III below, which Items
allows Subscribers to export the depth- position to bear the cost of an increase
have been prepared by the Exchange.
of-book data to a display application of in the price of EDS because of that larger
The Commission is publishing this
their choosing, provided that the subscriber base.
notice to solicit comments on the
Distributor controls access to the
proposed rule change from interested In summary, the price increase is
application, monitors its use, and
persons. justified by the increasing value of EDS
prevents redistribution of the data,
I. Self-Regulatory Organization’s to Distributors that purchase an
either externally or internally.
Statement of the Terms of Substance of Enterprise License.
The Enterprise License fee allows
asabaliauskas on DSK3SPTVN1PROD with NOTICES
the Proposed Rule Change Distributors to purchase an EDS for Technical Correction
The Exchange proposes to amend the professional subscribers at a fixed
monthly per-subscriber rate. The current Nasdaq also proposes to correct a
Exchange’s data fees at Rule 7026 to cross reference to Rule 7023 (Nasdaq
raise the monthly Enterprise License fee fee of $30,000 per month permits the
distribution of Nasdaq depth-of-book Depth-of-Book Data).
12 17 CFR 200.30–3(a)(12). data to an unlimited number of On January 5, 2012, the Exchange
1 15 U.S.C. 78s(b)(1). professional subscribers at a monthly filed with the Commission a proposal to
2 17 CFR 240.19b–4. per-subscriber rate of $70 for TotalView amend Rule 7026 to offer an optional
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Document Created: 2018-02-01 15:02:15
Document Modified: 2018-02-01 15:02:15
| 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 | 82 FR 10942 |
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