82 FR 58459 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Price List To Modify the Fees Related to Four Bundles of Co-Location Services in Connection With the Exchange's Co-Location Services
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 82, Issue 237 (December 12, 2017)
Federal Register Volume 82, Issue 237 (December 12, 2017)
| Page Range | 58459-58462 | |
| FR Document | 2017-26685 |
[Federal Register Volume 82, Number 237 (Tuesday, December 12, 2017)] [Notices] [Pages 58459-58462] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-26685] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82223; File No. SR-NYSE-2017-62] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Price List To Modify the Fees Related to Four Bundles of Co-Location Services in Connection With the Exchange's Co- Location Services December 6, 2017. Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given that, on November 22, 2017, New York Stock Exchange LLC (``NYSE'' or the ``Exchange'') filed with the Securities and Exchange Commission (``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the Exchange's Price List to modify the fees related to four bundles of co-location services (``Partial Cabinet Solution bundles'') in connection with the Exchange's co- location services. The Exchange proposes to implement the fee changes effective January 1, 2018. The proposed rule change is available on the Exchange's website at www.nyse.com, at the principal office of the Exchange, and at the Commission's Public Reference Room. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization's Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the Exchange's Price List to modify the fees related to Partial Cabinet Solution bundles in connection with the Exchange's co-location services.\4\ --------------------------------------------------------------------------- \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 (Sept. 21, 2010), 75 FR 59310 (Sept. 27, 2010) (SR-NYSE-2010- 56) (the ``Original Co-location Filing''). The Exchange operates a data center in Mahwah, New Jersey (the ``data center'') from which it provides co-location services to Users. --------------------------------------------------------------------------- The Exchange offers the four Partial Cabinet Solution bundles in order to attract smaller Users, including those with minimal power or cabinet space demands or those for which the costs attendant with having a dedicated cabinet or greater network connection bandwidth are too burdensome.\5\ --------------------------------------------------------------------------- \5\ See Securities Exchange Act Release No. 77072 (Feb. 5, 2016), 81 FR 7394 (Feb. 11, 2016) (SR-NYSE-2015-53). --------------------------------------------------------------------------- Currently, the Exchange offers Users \6\ that purchase a Partial Cabinet Solution bundle on or before December 31, 2017, a 50% reduction in the monthly recurring charges (``MRC'') for the first 12 months.\7\ The Exchange now proposes to: --------------------------------------------------------------------------- \6\ 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 (Sept. 29, 2015), 80 FR 60190 (Oct. 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 (Aug. 15, 2013), 78 FR 51765 (Aug. 21, 2013) (SR-NYSE-2013- 59). \7\ See Securities Exchange Act Release No. 79715 (Dec. 30, 2016), 82 FR 1777 (Jan. 6, 2017) (SR-NYSE-2016-91). ---------------------------------------------------------------------------Extend the 50% reduction to those Users that purchase a Partial Cabinet Solution bundle on or before December 31, 2018; and increase the duration of the reduction from 12 months to 24 months. The Exchange also proposes that Users that already purchased a Partial Cabinet Solution bundle have the duration of their 50% reduction increased from 12 months to 24 months as well.\8\ --------------------------------------------------------------------------- \8\ For each User that is currently benefitting from the 50% reduction, the additional 12 month period with the reduced price would begin when its current 12-month period ended. For each User whose 12-month period with the reduced price has ended, the additional 12-month period would begin upon the implementation of the proposed fee changes. --------------------------------------------------------------------------- The Exchange proposes to implement the fee changes effective January 1, 2018. Specifically, the Exchange proposes to modify its Price List so that it reads as follows: ------------------------------------------------------------------------ Type of service Description Amount of charge ------------------------------------------------------------------------ Partial Cabinet Solution bundles Option A:......... $7,500 initial Note: A User and its Affiliates 1 kW partial charge per bundle are limited to one Partial cabinet, 1 LCN plus monthly Cabinet Solution bundle at a connection (1 charge per bundle time. A User and its Affiliates Gb), 1 IP network as follows: must have an Aggregate Cabinet connection (1 For Users Footprint of 2 kW or less to Gb), 2 fiber that order on or qualify for a Partial Cabinet cross connections before December Solution bundle. See Note 2 and either the 31, 2018: $3,000 under ``General Notes.''. Network Time monthly for first Protocol Feed or 24 months of Precision Timing service, and Protocol. $6,000 monthly thereafter For Users that order after December 31, 2018: $6,000 monthly. [[Page 58460]] Option B:......... $7,500 initial 2 kW partial charge per bundle cabinet, 1 LCN plus monthly connection (1 charge per bundle Gb), 1 IP network as follows: connection (1 For Users Gb), 2 fiber that order on or cross connections before December and either the 31, 2018: $3,500 Network Time monthly for first Protocol Feed or 24 months of Precision Timing service, and Protocol. $7,000 monthly thereafter For Users that order after December 31, 2018: $7,000 monthly. Option C:......... $10,000 initial 1 kW partial charge per bundle cabinet, 1 LCN plus monthly connection (10 charge per bundle Gb), 1 IP network as follows: connection (10 For Users Gb), 2 fiber that order on or cross connections before December and either the 31, 2018: $7,000 Network Time monthly for first Protocol Feed or 24 months of Precision Timing service, and Protocol. $14,000 monthly thereafter For Users that order after December 31, 2018: $14,000 monthly. Option D:......... $10,000 initial 2 kW partial charge per bundle cabinet, 1 LCN plus monthly connection (10 charge per bundle Gb), 1 IP network as follows: connection (10 For Users Gb), 2 fiber that order on or cross connections before December and either the 31, 2018: $7,500 Network Time monthly for first Protocol Feed or 24 months of Precision Timing service, and Protocol. $15,000 monthly thereafter For Users that order after December 31, 2018: $15,000 monthly. ------------------------------------------------------------------------ The Exchange is not proposing any other changes to the Partial Cabinet Solution bundles.\9\ --------------------------------------------------------------------------- \9\ The Commission notes that previous filings stated that Users that purchase a Partial Cabinet Solution bundle would be subject to a 90-day minimum commitment, after which period they are subject to a 60-day rolling time period. The Exchange has represented to Commission staff that these provisions have not changed. --------------------------------------------------------------------------- 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; \10\ 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.\11\ --------------------------------------------------------------------------- \10\ 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. \11\ See SR-NYSE-2013-59, supra note 6, at 51766. The Exchange's affiliates have also submitted substantially the same proposed rule change to propose the changes described herein. See SR-NYSEAMER- 2017-35 and SR-NYSEArca-2017-134. --------------------------------------------------------------------------- 2. Statutory Basis The Exchange believes that the proposed rule changes are consistent with Section 6(b) of the Act,\12\ in general, and furthers the objectives of Sections 6(b)(5) of the Act,\13\ 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. --------------------------------------------------------------------------- \12\ 15 U.S.C. 78f(b). \13\ 15 U.S.C. 78f(b)(5). --------------------------------------------------------------------------- The Exchange believes that the proposed rule changes provide for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities, and are not designed to permit unfair discrimination between customers, issuers, brokers, or dealers, because the Exchange proposes to offer the 50% reduction in the MRC, and the increase in the duration of the reduction from 12 months to 24 months, to all Users equally. As is currently the case, the purchase of any colocation service (including Partial Cabinet Solution bundles) is completely voluntary. All Users that order a bundle on or before December 31, 2018 would have their MRC reduced by 50% for the first 24 months. The Exchange believes that extending the 50% reduction in the MRC for Partial Cabinet Solution bundles, and increasing the duration of the reduction, is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers because the Partial Cabinet Solution bundles would continue to offer four different Partial Cabinet Solution bundles with options with respect to cabinet footprint and network connections. Users that require other sizes or combinations of cabinets, network connections and cross connects could still request them. In addition, the Exchange believes that its proposal would remove 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 the proposed extension of the 50% reduction in MRC and the proposed increase in the duration of the reduction would continue to make it more cost effective for Users to utilize co- location by creating a convenient way to create a colocation environment, through four Partial Cabinet Solution bundles with options with respect to cabinet footprint and network connections. The Exchange expects that such Users would include those with minimal power or cabinet space demands and Users for which the costs attendant with having a dedicated cabinet or greater network connection bandwidth are too burdensome. The Exchange believes that the proposed change to have Users that already purchased a Partial Cabinet Solution bundle have the duration of their 50% reduction increased from 12 months to 24 months is designed to prevent fraudulent and manipulative [[Page 58461]] 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, because it would ensure that all Users that purchase a Partial Cabinet Solution bundle prior to December 31, 2018 benefit from the 50% reduction for a total of 24 months. The Exchange also believes that the proposed rule changes are consistent with Section 6(b)(4) of the Act,\14\ 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. --------------------------------------------------------------------------- \14\ 15 U.S.C. 78f(b)(4). --------------------------------------------------------------------------- The Exchange believes that it is reasonable that Users that order a Partial Cabinet Solution bundle on or before December 31, 2018 would have their MRC reduced by 50% for the first 24 months because it is reasonable to continue to offer such reduction as an incentive to Users to utilize the service, including both new and past Users of bundles. As noted above, the Exchange anticipates that Users of the Partial Cabinet Solution bundles would include those with minimum power or cabinet space demands and Users for which the costs attendant with having a dedicated cabinet or greater network connection bandwidth are too burdensome. 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 proposal is consistent with the Act. B. Self-Regulatory Organization's Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,\15\ the Exchange believes that the proposed rule changes will not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act because, 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, and the extension of the 50% reduction for the MRC for the Partial Cabinet Solution bundles, and the increased duration of the reduction, would apply to all Users). --------------------------------------------------------------------------- \15\ 15 U.S.C. 78f(b)(8). --------------------------------------------------------------------------- The Exchange believes that extending the 50% reduction in the MRC and increasing the duration of the reduction 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 continue to satisfy User demand for cost effective options for smaller Users that choose to utilize co-location. All Users that order a bundle on or before December 31, 2018 would have their MRC reduced by 50% for the first 24 months. The Exchange believes that the proposed change to have Users that already purchased a Partial Cabinet Solution bundle have the duration of their 50% reduction increased from 12 months to 24 months would ensure that all Users that purchase a Partial Cabinet Solution bundle prior to December 31, 2018 benefit from the 50% reduction for a total of 24 months. The proposed changes will also enhance competition by making it more cost effective for Users that purchase a Partial Cabinet Solution bundle to utilize co-location by creating a convenient way to create a colocation environment, through Partial Cabinet Solution bundles with options with respect to cabinet footprint and network connections at a reduced MRC for the first 24 months. Such Users may choose to pass on such cost savings to their customers. The Exchange operates in a highly competitive market in which exchanges offer co-location services as a means to facilitate the trading and other market activities of those market participants who believe that co-location enhances the efficiency of their operations. Accordingly, fees charged for co-location services are constrained by the active competition for the order flow of, and other business from, such market participants. If a particular exchange charges excessive fees for co-location services, affected market participants will opt to terminate their co-location arrangements with that exchange, and adopt a possible range of alternative strategies, including placing their servers in a physically proximate location outside the exchange's data center (which could be a competing exchange), or pursuing strategies less dependent upon the lower exchange-to-participant latency associated with co-location. Accordingly, the exchange charging excessive fees would stand to lose not only co-location revenues but also the liquidity of the formerly co-located trading firms, which could have additional follow-on effects on the market share and revenue of the affected exchange. 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 changes reflect 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 foregoing rule change has become effective pursuant to Section 19(b)(3)(A) \16\ of the Act and subparagraph (f)(2) of Rule 19b-4 \17\ thereunder. 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) \18\ of the Act to determine whether the proposed rule change should be approved or disapproved. --------------------------------------------------------------------------- \16\ 15 U.S.C. 78s(b)(3)(A). \17\ 17 CFR 240.19b-4(f)(2). \18\ 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. [[Page 58462]] 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 Number SR-NYSE-2017-62 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 Number SR-NYSE-2017-62. 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 website (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 website 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. Persons submitting comments are cautioned that we do not redact or edit personal identifying information from comment submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR-NYSE-2017-62 and should be submitted on or before January 2, 2018. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). --------------------------------------------------------------------------- Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-26685 Filed 12-11-17; 8:45 am] BILLING CODE 8011-01-P
![Federal Register / Vol. 82, No. 237 / Tuesday, December 12, 2017 / Notices 58459
in connection with the operation of its Exchange LLC (‘‘NYSE’’ or the A. Self-Regulatory Organization’s
Retail Liquidity Program, until June 30, ‘‘Exchange’’) filed with the Securities Statement of the Purpose of, and the
2018. and Exchange Commission Statutory Basis for, the Proposed Rule
The limited and temporary exemption (‘‘Commission’’) the proposed rule Change
extended by this Order are subject to change as described in Items I and II
modification or revocation if at any time 1. Purpose
below, which Items have been prepared
the Commission determines that such by the self-regulatory organization. The The Exchange proposes to amend the
action is necessary or appropriate in Commission is publishing this notice to Exchange’s Price List to modify the fees
furtherance of the purposes of the solicit comments on the proposed rule related to Partial Cabinet Solution
Securities Exchange Act of 1934. change from interested persons. bundles in connection with the
Responsibility for compliance with Exchange’s co-location services.4
any applicable provisions of the Federal I. Self-Regulatory Organization’s The Exchange offers the four Partial
securities laws must rest with the Statement of the Terms of Substance of Cabinet Solution bundles in order to
persons relying on the exemptions that the Proposed Rule Change attract smaller Users, including those
are the subject of this Order. The Exchange proposes to amend the with minimal power or cabinet space
For the Commission, by the Division of Exchange’s Price List to modify the fees demands or those for which the costs
Trading and Markets, pursuant to delegated related to four bundles of co-location attendant with having a dedicated
authority.9 services (‘‘Partial Cabinet Solution cabinet or greater network connection
Eduardo A. Aleman, bundles’’) in connection with the bandwidth are too burdensome.5
Assistant Secretary. Exchange’s co-location services. The Currently, the Exchange offers Users 6
[FR Doc. 2017–26727 Filed 12–11–17; 8:45 am] Exchange proposes to implement the fee that purchase a Partial Cabinet Solution
BILLING CODE 8011–01–P
changes effective January 1, 2018. The bundle on or before December 31, 2017,
proposed rule change is available on the a 50% reduction in the monthly
Exchange’s website at www.nyse.com, at recurring charges (‘‘MRC’’) for the first
SECURITIES AND EXCHANGE the principal office of the Exchange, and 12 months.7 The Exchange now
COMMISSION at the Commission’s Public Reference proposes to:
Room. • Extend the 50% reduction to those
[Release No. 34–82223; File No. SR–NYSE– Users that purchase a Partial Cabinet
2017–62] II. Self-Regulatory Organization’s
Solution bundle on or before December
Statement of the Purpose of, and
Self-Regulatory Organizations; New 31, 2018; and
Statutory Basis for, the Proposed Rule
York Stock Exchange LLC; Notice of • increase the duration of the
Change
Filing and Immediate Effectiveness of reduction from 12 months to 24 months.
Proposed Rule Change To Amend the In its filing with the Commission, the The Exchange also proposes that
Exchange’s Price List To Modify the self-regulatory organization included Users that already purchased a Partial
Fees Related to Four Bundles of Co- statements concerning the purpose of, Cabinet Solution bundle have the
Location Services in Connection With and basis for, the proposed rule change duration of their 50% reduction
the Exchange’s Co-Location Services and discussed any comments it received increased from 12 months to 24 months
on the proposed rule change. The text as well.8
December 6, 2017. of those statements may be examined at The Exchange proposes to implement
Pursuant to Section 19(b)(1) 1 of the the places specified in Item IV below. the fee changes effective January 1,
Securities Exchange Act of 1934 The Exchange has prepared summaries, 2018.
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3 set forth in sections A, B, and C below, Specifically, the Exchange proposes to
notice is hereby given that, on of the most significant parts of such modify its Price List so that it reads as
November 22, 2017, New York Stock statements. follows:
Type of service Description Amount of charge
Partial Cabinet Solution bundles ....................... Option A: .......................................................... $7,500 initial charge per bundle plus monthly
Note: A User and its Affiliates are limited to 1 kW partial cabinet, 1 LCN connection (1 charge per bundle as follows:
one Partial Cabinet Solution bundle at a Gb), 1 IP network connection (1 Gb), 2 fiber • For Users that order on or before December
time. A User and its Affiliates must have an cross connections and either the Network 31, 2018: $3,000 monthly for first 24 months
Aggregate Cabinet Footprint of 2 kW or less Time Protocol Feed or Precision Timing of service, and $6,000 monthly thereafter
to qualify for a Partial Cabinet Solution bun- Protocol. • For Users that order after December 31,
dle. See Note 2 under ‘‘General Notes.’’. 2018: $6,000 monthly.
9 17 CFR 200.30–3(a)(83). 5 See Securities Exchange Act Release No. 77072 Securities Exchange Act Release No. 70206 (Aug.
1 15 U.S.C. 78s(b)(1). (Feb. 5, 2016), 81 FR 7394 (Feb. 11, 2016) (SR– 15, 2013), 78 FR 51765 (Aug. 21, 2013) (SR–NYSE–
2 15 U.S.C. 78a. NYSE–2015–53). 2013–59).
3 17 CFR 240.19b–4. 6 For purposes of the Exchange’s co-location 7 See Securities Exchange Act Release No. 79715
4 The Exchange initially filed rule changes services, a ‘‘User’’ means any market participant (Dec. 30, 2016), 82 FR 1777 (Jan. 6, 2017) (SR–
ethrower on DSK3G9T082PROD with NOTICES
relating to its co-location services with the that requests to receive co-location services directly NYSE–2016–91).
Securities and Exchange Commission from the Exchange. See Securities Exchange Act 8 For each User that is currently benefitting from
(‘‘Commission’’) in 2010. See Securities Exchange Release No. 76008 (Sept. 29, 2015), 80 FR 60190 the 50% reduction, the additional 12 month period
Act Release No. 62960 (Sept. 21, 2010), 75 FR 59310 (Oct. 5, 2015) (SR–NYSE–2015–40). As specified in with the reduced price would begin when its
(Sept. 27, 2010) (SR–NYSE–2010–56) (the ‘‘Original the Price List, a User that incurs co-location fees for current 12-month period ended. For each User
Co-location Filing’’). The Exchange operates a data a particular co-location service pursuant thereto whose 12-month period with the reduced price has
center in Mahwah, New Jersey (the ‘‘data center’’) would not be subject to co-location fees for the ended, the additional 12-month period would begin
from which it provides co-location services to same co-location service charged by the Exchange’s upon the implementation of the proposed fee
Users. affiliates NYSE MKT LLC and NYSE Arca, Inc. See changes.
VerDate Sep<11>2014 20:03 Dec 11, 2017 Jkt 244001 PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 E:\FR\FM\12DEN1.SGM 12DEN1](https://thefederalregister.org/doc/82_FR_58696/page/1.svg)
![58462 Federal Register / Vol. 82, No. 237 / Tuesday, December 12, 2017 / Notices
Comments may be submitted by any of SECURITIES AND EXCHANGE of those statements may be examined at
the following methods: COMMISSION the places specified in Item IV below.
The Exchange has prepared summaries,
Electronic Comments [Release No. 34–82226; File No. SR–
NYSEARCA–2017–134]
set forth in sections A, B, and C below,
• Use the Commission’s internet of the most significant parts of such
comment form (http://www.sec.gov/ Self-Regulatory Organizations; NYSE statements.
rules/sro.shtml); or Arca, Inc.; Notice of Filing and A. Self-Regulatory Organization’s
• Send an email to rule-comments@ Immediate Effectiveness of Proposed Statement of the Purpose of, and the
sec.gov. Please include File Number SR– Rule Change To Amend the NYSE Arca Statutory Basis for, the Proposed Rule
NYSE–2017–62 on the subject line. Options Fees and Charges and the Change
NYSE Arca Equities Fees and Charges
Paper Comments To Modify the Fees Related to Four 1. Purpose
Bundles of Co-Location Services in The Exchange proposes to amend the
• Send paper comments in triplicate Connection With the Exchange’s Co- Exchange’s Fee Schedules to modify the
to Secretary, Securities and Exchange Location Services fees related to Partial Cabinet Solution
Commission, 100 F Street NE,
bundles in connection with the
Washington, DC 20549–1090. December 6, 2017.
Exchange’s co-location services.4
Pursuant to Section 19(b)(1) 1 of the
All submissions should refer to File The Exchange offers the four Partial
Securities Exchange Act of 1934
Number SR–NYSE–2017–62. This file Cabinet Solution bundles in order to
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
number should be included on the attract smaller Users, including those
notice is hereby given that, on
subject line if email is used. To help the with minimal power or cabinet space
November 22, 2017, NYSE Arca, Inc.
Commission process and review your demands or those for which the costs
(‘‘Exchange’’ or ‘‘NYSE Arca’’) filed
comments more efficiently, please use attendant with having a dedicated
with the Securities and Exchange
only one method. The Commission will cabinet or greater network connection
Commission (the ‘‘Commission’’) the
post all comments on the Commission’s bandwidth are too burdensome.5
proposed rule change as described in Currently, the Exchange offers Users 6
internet website (http://www.sec.gov/
Items I and II below, which Items have that purchase a Partial Cabinet Solution
rules/sro.shtml). Copies of the
been prepared by the self-regulatory bundle on or before December 31, 2017
submission, all subsequent
organization. The Commission is a 50% reduction in the monthly
amendments, all written statements
publishing this notice to solicit recurring charges (‘‘MRC’’) for the first
with respect to the proposed rule
comments on the proposed rule change 12 months.7 The Exchange now
change that are filed with the
from interested persons. proposes to:
Commission, and all written
communications relating to the I. Self-Regulatory Organization’s • Extend the 50% reduction to those
proposed rule change between the Statement of the Terms of Substance of Users that purchase a Partial Cabinet
Commission and any person, other than the Proposed Rule Change Solution bundle on or before December
those that may be withheld from the The Exchange proposes to amend the 31, 2018; and
public in accordance with the NYSE Arca Options Fees and Charges • increase the duration of the
provisions of 5 U.S.C. 552, will be (the ‘‘Options Fee Schedule’’) and the reduction from 12 months to 24 months.
available for website viewing and The Exchange also proposes that
NYSE Arca Equities Fees and Charges
printing in the Commission’s Public Users that already purchased a Partial
(the ‘‘Equities Fee Schedule’’ and,
Reference Room, 100 F Street NE, Cabinet Solution bundle have the
together with the Options Fee Schedule,
Washington, DC 20549 on official the ‘‘Fee Schedules’’) to modify the fees 4 The Exchange initially filed rule changes
business days between the hours of related to four bundles of co-location relating to its co-location services with the
10:00 a.m. and 3:00 p.m. Copies of the services (‘‘Partial Cabinet Solution Securities and Exchange Commission
filing also will be available for bundles’’) in connection with the (‘‘Commission’’) in 2010. See Securities Exchange
inspection and copying at the principal Exchange’s co-location services. The Act Release No. 63275 (November 8, 2010), 75 FR
office of the Exchange. All comments 70048 (November 16, 2010) (SR–NYSEArca–2010–
Exchange proposes to implement the fee 100) (the ‘‘Original Co-location Filing’’). The
received will be posted without change. changes effective January 1, 2018. The Exchange operates a data center in Mahwah, New
Persons submitting comments are proposed rule change is available on the Jersey (the ‘‘data center’’) from which it provides
cautioned that we do not redact or edit Exchange’s website at www.nyse.com, at co-location services to Users.
5 See Securities Exchange Act Release No. 77070
personal identifying information from the principal office of the Exchange, and (Feb. 5, 2016), 81 FR 7401 (Feb. 11, 2016) (SR–
comment submissions. You should at the Commission’s Public Reference NYSEArca–2015–102).
submit only information that you wish Room. 6 For purposes of the Exchange’s co-location
to make available publicly. All services, a ‘‘User’’ means any market participant
submissions should refer to File II. Self-Regulatory Organization’s that requests to receive co-location services directly
Number SR–NYSE–2017–62 and should Statement of the Purpose of, and from the Exchange. See Securities Exchange Act
Statutory Basis for, the Proposed Rule Release No. 76010 (September 29, 2015), 80 FR
be submitted on or before January 2, 60197 (October 5, 2015) (SR–NYSEArca–2015–82).
2018. Change As specified in the Fee Schedules, a User that
In its filing with the Commission, the incurs co-location fees for a particular co-location
For the Commission, by the Division of service pursuant thereto would not be subject to co-
Trading and Markets, pursuant to delegated self-regulatory organization included location fees for the same co-location service
statements concerning the purpose of,
ethrower on DSK3G9T082PROD with NOTICES
authority.19 charged by the Exchange’s affiliates New York
Eduardo A. Aleman, and basis for, the proposed rule change Stock Exchange LLC (‘‘NYSE LLC’’) and NYSE MKT
and discussed any comments it received LLC (‘‘NYSE MKT’’ and, together with NYSE LLC,
Assistant Secretary. the ‘‘Affiliate SROs’’). See Securities Exchange Act
on the proposed rule change. The text Release No. 70173 (August 13, 2013), 78 FR 50459
[FR Doc. 2017–26685 Filed 12–11–17; 8:45 am]
(August 19, 2013) (SR–NYSEArca–2013–80).
BILLING CODE 8011–01–P 1 15 U.S.C. 78s(b)(1). 7 See Securities Exchange Act Release No. 79716
2 15 U.S.C. 78a. (Dec. 30, 2016), 82 FR 1774 (Jan. 6, 2017) (SR–
19 17 CFR 200.30–3(a)(12). 3 17 CFR 240.19b–4. NYSEArca–2016–168).
VerDate Sep<11>2014 20:03 Dec 11, 2017 Jkt 244001 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 E:\FR\FM\12DEN1.SGM 12DEN1](https://thefederalregister.org/doc/82_FR_58696/page/4.svg)
Document Created: 2018-10-25 10:47:34
Document Modified: 2018-10-25 10:47:34
| 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 58459 |
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