82_FR_58699 82 FR 58462 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fees and Charges and the NYSE Arca Equities Fees and Charges To Modify the Fees Related to Four Bundles of Co-Location Services in Connection With the Exchange's Co-Location Services

82 FR 58462 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fees and Charges and the NYSE Arca Equities Fees and Charges 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)

Page Range58462-58465
FR Document2017-26688

Federal Register, Volume 82 Issue 237 (Tuesday, December 12, 2017)
[Federal Register Volume 82, Number 237 (Tuesday, December 12, 2017)]
[Notices]
[Pages 58462-58465]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-26688]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-82226; File No. SR-NYSEARCA-2017-134]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE 
Arca Options Fees and Charges and the NYSE Arca Equities Fees and 
Charges 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, NYSE Arca, Inc. (``Exchange'' or ``NYSE 
Arca'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I and II 
below, which Items have been prepared by the self-regulatory 
organization. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the NYSE Arca Options Fees and 
Charges (the ``Options Fee Schedule'') and the NYSE Arca Equities Fees 
and Charges (the ``Equities Fee Schedule'' and, together with the 
Options Fee Schedule, the ``Fee Schedules'') 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 Fee Schedules to 
modify the fees related to Partial Cabinet Solution bundles in 
connection with the Exchange's co-location services.\4\
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    \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. 
63275 (November 8, 2010), 75 FR 70048 (November 16, 2010) (SR-
NYSEArca-2010-100) (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.
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    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\
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    \5\ See Securities Exchange Act Release No. 77070 (Feb. 5, 
2016), 81 FR 7401 (Feb. 11, 2016) (SR-NYSEArca-2015-102).
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    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:
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    \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. 76010 (September 29, 2015), 80 FR 60197 
(October 5, 2015) (SR-NYSEArca-2015-82). As specified in the Fee 
Schedules, 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 New York Stock Exchange LLC (``NYSE LLC'') and 
NYSE MKT LLC (``NYSE MKT'' and, together with NYSE LLC, the 
``Affiliate SROs''). See Securities Exchange Act Release No. 70173 
(August 13, 2013), 78 FR 50459 (August 19, 2013) (SR-NYSEArca-2013-
80).
    \7\ See Securities Exchange Act Release No. 79716 (Dec. 30, 
2016), 82 FR 1774 (Jan. 6, 2017) (SR-NYSEArca-2016-168).
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     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

[[Page 58463]]

duration of their 50% reduction increased from 12 months to 24 months 
as well.\8\
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    \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.
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    The Exchange proposes to implement the fee changes effective 
January 1, 2018.
    Specifically, the Exchange proposes to modify its Fee Schedules so 
that they read as follows:

------------------------------------------------------------------------
       Type of service             Description        Amount of charge
------------------------------------------------------------------------
Partial Cabinet Solution      Option A:...........  $7,500 initial
 bundles.                     1 kW partial           charge per bundle
Note: A User and its           cabinet, 1 LCN        plus monthly charge
 Affiliates are limited to     connection (1 Gb),    per bundle as
 one Partial Cabinet           1 IP network          follows:
 Solution bundle at a time.    connection (1 Gb),    For Users
 A User and its Affiliates     2 fiber cross         that order on or
 must have an Aggregate        connections and       before December 31,
 Cabinet Footprint of 2 kW     either the Network    2018: $3,000
 or less to qualify for a      Time Protocol Feed    monthly for first
 Partial Cabinet Solution      or Precision Timing   24 months of
 bundle. See Note 2 under      Protocol.             service, and $6,000
 ``General Notes.''.                                 monthly thereafter.
                                                     For Users
                                                     that order after
                                                     December 31, 2018:
                                                     $6,000 monthly.
                              Option B:...........  $7,500 initial
                              2 kW partial           charge per bundle
                               cabinet, 1 LCN        plus monthly charge
                               connection (1 Gb),    per bundle as
                               1 IP network          follows:
                               connection (1 Gb),    For Users
                               2 fiber cross         that order on or
                               connections and       before December 31,
                               either the Network    2018: $3,500
                               Time Protocol Feed    monthly for first
                               or Precision Timing   24 months of
                               Protocol.             service, and $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 charge
                               connection (10 Gb),   per bundle as
                               1 IP network          follows:
                               connection (10 Gb),   For Users
                               2 fiber cross         that order on or
                               connections and       before December 31,
                               either the Network    2018: $7,000
                               Time Protocol Feed    monthly for first
                               or Precision Timing   24 months of
                               Protocol.             service, and
                                                     $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 charge
                               connection (10 Gb),   per bundle as
                               1 IP network          follows:
                               connection (10 Gb),   For Users
                               2 fiber cross         that order on or
                               connections and       before December 31,
                               either the Network    2018: $7,500
                               Time Protocol Feed    monthly for first
                               or Precision Timing   24 months of
                               Protocol.             service, and
                                                     $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\
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    \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.
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    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\
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    \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-NYSEArca-2013-80, supra note 6, at 50459. The 
Exchange's affiliates have also submitted substantially the same 
proposed rule change to propose the changes described herein. See 
SR-NYSE-2017-62 and SR-NYSEAMER-2017-35.
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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 co-location service (including 
Partial Cabinet Solution

[[Page 58464]]

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 co-location 
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 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 
co-location 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

[[Page 58465]]

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.
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    \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. 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 rule-comments@sec.gov. Please include 
File Number SR-NYSEARCA-2017-134 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-NYSEARCA-2017-134. 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-NYSEARCA-2017-134 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\
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    \19\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-26688 Filed 12-11-17; 8:45 am]
 BILLING CODE 8011-01-P



                                               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,
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                                               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).



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                                                                           Federal Register / Vol. 82, No. 237 / Tuesday, December 12, 2017 / Notices                                                                       58463

                                               duration of their 50% reduction                               The Exchange proposes to implement                                      Specifically, the Exchange proposes to
                                               increased from 12 months to 24 months                       the fee changes effective January 1,                                    modify its Fee Schedules so that they
                                               as well.8                                                   2018.                                                                   read as 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 time.               Gb), 1 IP network connection (1 Gb), 2 fiber                             • For Users that order on or before De-
                                                 A User and its Affiliates must have an Aggre-                cross connections and either the Network                                   cember 31, 2018: $3,000 monthly for
                                                 gate Cabinet Footprint of 2 kW or less to                    Time Protocol Feed or Precision Timing                                     first 24 months of service, and $6,000
                                                 qualify for a Partial Cabinet Solution bundle.               Protocol.                                                                  monthly thereafter.
                                                 See Note 2 under ‘‘General Notes.’’.                                                                                                  • For Users that order after December
                                                                                                                                                                                         31, 2018: $6,000 monthly.
                                                                                                            Option B: ..........................................................   $7,500 initial charge per bundle plus monthly
                                                                                                            2 kW partial cabinet, 1 LCN connection (1                                charge per bundle as follows:
                                                                                                              Gb), 1 IP network connection (1 Gb), 2 fiber                             • For Users that order on or before De-
                                                                                                              cross connections and either the Network                                   cember 31, 2018: $3,500 monthly for
                                                                                                              Time Protocol Feed or Precision Timing                                     first 24 months of service, and $7,000
                                                                                                              Protocol.                                                                  monthly thereafter.
                                                                                                                                                                                       • For Users that order after December
                                                                                                                                                                                         31, 2018: $7,000 monthly.
                                                                                                            Option C: ..........................................................   $10,000 initial charge per bundle plus monthly
                                                                                                            1 kW partial cabinet, 1 LCN connection (10                               charge per bundle as follows:
                                                                                                              Gb), 1 IP network connection (10 Gb), 2                                  • For Users that order on or before De-
                                                                                                              fiber cross connections and either the Net-                                cember 31, 2018: $7,000 monthly for
                                                                                                              work Time Protocol Feed or Precision Tim-                                  first 24 months of service, and $14,000
                                                                                                              ing Protocol.                                                              monthly thereafter.
                                                                                                                                                                                       • For Users that order after December
                                                                                                                                                                                         31, 2018: $14,000 monthly.
                                                                                                            Option D: ..........................................................   $10,000 initial charge per bundle plus monthly
                                                                                                            2 kW partial cabinet, 1 LCN connection (10                               charge per bundle as follows:
                                                                                                              Gb), 1 IP network connection (10 Gb), 2                                  • For Users that order on or before De-
                                                                                                              fiber cross connections and either the Net-                                cember 31, 2018: $7,500 monthly for
                                                                                                              work Time Protocol Feed or Precision Tim-                                  first 24 months of service, and $15,000
                                                                                                              ing Protocol.                                                              monthly thereafter.
                                                                                                                                                                                       • For Users that order after December
                                                                                                                                                                                         31, 2018: $15,000 monthly.



                                                 The Exchange is not proposing any                         only to the Exchange or to the Exchange                                 system and, in general, to protect
                                               other changes to the Partial Cabinet                        and one or both of its affiliates.11                                    investors and the public interest and
                                               Solution bundles.9                                                                                                                  because it is not designed to permit
                                                                                                           2. Statutory Basis
                                                 As is the case with all Exchange co-                                                                                              unfair discrimination between
                                                                                                             The Exchange believes that the                                        customers, issuers, brokers, or dealers.
                                               location arrangements, (i) neither a User
                                                                                                           proposed rule changes are consistent                                       The Exchange believes that the
                                               nor any of the User’s customers would
                                                                                                           with Section 6(b) of the Act,12 in                                      proposed rule changes provide for the
                                               be permitted to submit orders directly to                   general, and furthers the objectives of                                 equitable allocation of reasonable dues,
                                               the Exchange unless such User or                            Sections 6(b)(5) of the Act,13 in                                       fees, and other charges among its
                                               customer is a member organization, a                        particular, because it is designed to                                   members, issuers and other persons
                                               Sponsored Participant or an agent                           prevent fraudulent and manipulative                                     using its facilities, and are not designed
                                               thereof (e.g., a service bureau providing                   acts and practices, to promote just and                                 to permit unfair discrimination between
                                               order entry services); (ii) use of the co-                  equitable principles of trade, to foster                                customers, issuers, brokers, or dealers,
                                               location services proposed herein would                     cooperation and coordination with                                       because the Exchange proposes to offer
                                               be completely voluntary and available                       persons engaged in regulating, clearing,                                the 50% reduction in the MRC, and the
                                               to all Users on a non-discriminatory                        settling, processing information with                                   increase in the duration of the reduction
                                               basis; 10 and (iii) a User would only                       respect to, and facilitating transactions                               from 12 months to 24 months, to all
                                               incur one charge for the particular co-                     in securities, to remove impediments to,                                Users equally. As is currently the case,
                                               location service described herein,                          and perfect the mechanisms of, a free                                   the purchase of any co-location service
                                               regardless of whether the User connects                     and open market and a national market                                   (including Partial Cabinet Solution
                                                 8 For each User that is currently benefitting from        Exchange has represented to Commission staff that                       receive co-location services normally would expect
                                               the 50% reduction, the additional 12 month period           these provisions have not changed.                                      reduced latencies in sending orders to, and
                                               with the reduced price would begin when its                   10 As is currently the case, Users that receive co-
                                                                                                                                                                                   receiving market data from, the Exchange.
                                               current 12-month period ended. For each User                location services from the Exchange will not receive                      11 See SR–NYSEArca–2013–80, supra note 6, at
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                                               whose 12-month period with the reduced price has            any means of access to the Exchange’s trading and
                                               ended, the additional 12-month period would begin                                                                                   50459. The Exchange’s affiliates have also
                                                                                                           execution systems that is separate from, or superior
                                               upon the implementation of the proposed fee                 to, that of other Users. In this regard, all orders sent                submitted substantially the same proposed rule
                                               changes.                                                    to the Exchange enter the Exchange’s trading and                        change to propose the changes described herein.
                                                 9 The Commission notes that previous filings              execution systems through the same order gateway,                       See SR–NYSE–2017–62 and SR–NYSEAMER–
                                               stated that Users that purchase a Partial Cabinet           regardless of whether the sender is co-located in the                   2017–35.
                                               Solution bundle would be subject to a 90-day                data center or not. In addition, co-located Users do                      12 15 U.S.C. 78f(b).
                                               minimum commitment, after which period they are             not receive any market data or data service product                       13 15 U.S.C. 78f(b)(5).
                                               subject to a 60-day rolling time period. The                that is not available to all Users, although Users that



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                                               58464                      Federal Register / Vol. 82, No. 237 / Tuesday, December 12, 2017 / Notices

                                               bundles) is completely voluntary. All                      The Exchange also believes that the                  appropriate in furtherance of the
                                               Users that order a bundle on or before                  proposed rule changes are consistent                    purposes of the Act because such access
                                               December 31, 2018 would have their                      with Section 6(b)(4) of the Act,14 in                   will continue to satisfy User demand for
                                               MRC reduced by 50% for the first 24                     particular, because it provides for the                 cost effective options for smaller Users
                                               months.                                                 equitable allocation of reasonable dues,                that choose to utilize co-location. All
                                                  The Exchange believes that extending                 fees, and other charges among its                       Users that order a bundle on or before
                                               the 50% reduction in the MRC for                        members, issuers and other persons                      December 31, 2018 would have their
                                               Partial Cabinet Solution bundles, and                   using its facilities and does not unfairly              MRC reduced by 50% for the first 24
                                               increasing the duration of the reduction,               discriminate between customers,                         months. The Exchange believes that the
                                               is not designed to permit unfair                        issuers, brokers or dealers.                            proposed change to have Users that
                                               discrimination between customers,                          The Exchange believes that it is                     already purchased a Partial Cabinet
                                               issuers, brokers, or dealers because the                reasonable that Users that order a Partial              Solution bundle have the duration of
                                               Partial Cabinet Solution bundles would                  Cabinet Solution bundle on or before                    their 50% reduction increased from 12
                                               continue to offer four different Partial                December 31, 2018 would have their                      months to 24 months would ensure that
                                               Cabinet Solution bundles with options                   MRC reduced by 50% for the first 24                     all Users that purchase a Partial Cabinet
                                               with respect to cabinet footprint and                   months because it is reasonable to                      Solution bundle prior to December 31,
                                               network connections. Users that require                 continue to offer such reduction as an                  2018 benefit from the 50% reduction for
                                               other sizes or combinations of cabinets,                incentive to Users to utilize the service,              a total of 24 months.
                                               network connections and cross connects                  including both new and past Users of                       The proposed changes will also
                                               could still request them.                               bundles. As noted above, the Exchange                   enhance competition by making it more
                                                  In addition, the Exchange believes                   anticipates that Users of the Partial                   cost effective for Users that purchase a
                                               that its proposal would remove                          Cabinet Solution bundles would include                  Partial Cabinet Solution bundle to
                                               impediments to, and perfects the                        those with minimum power or cabinet                     utilize co-location by creating a
                                               mechanisms of, a free and open market                   space demands and Users for which the                   convenient way to create a co-location
                                               and a national market system and, in                    costs attendant with having a dedicated                 environment, through Partial Cabinet
                                               general, protects investors and the                     cabinet or greater network connection                   Solution bundles with options with
                                               public interest because the proposed                    bandwidth are too burdensome.                           respect to cabinet footprint and network
                                               extension of the 50% reduction in MRC                      For the reasons above, the proposed                  connections at a reduced MRC for the
                                               and the proposed increase in the                        changes do not unfairly discriminate                    first 24 months. Such Users may choose
                                               duration of the reduction would                         between or among market participants                    to pass on such cost savings to their
                                               continue to make it more cost effective                 that are otherwise capable of satisfying                customers.
                                               for Users to utilize co-location by                     any applicable co-location fees,                           The Exchange operates in a highly
                                               creating a convenient way to create a co-               requirements, terms and conditions                      competitive market in which exchanges
                                               location environment, through four                      established from time to time by the                    offer co-location services as a means to
                                               Partial Cabinet Solution bundles with                   Exchange.                                               facilitate the trading and other market
                                               options with respect to cabinet footprint                  Finally, the Exchange believes that it               activities of those market participants
                                               and network connections. The Exchange                   is subject to significant competitive                   who believe that co-location enhances
                                               expects that such Users would include                   forces, as described below in the                       the efficiency of their operations.
                                               those with minimal power or cabinet                     Exchange’s statement regarding the                      Accordingly, fees charged for co-
                                               space demands and Users for which the                   burden on competition.                                  location services are constrained by the
                                               costs attendant with having a dedicated                    For these reasons, the Exchange                      active competition for the order flow of,
                                               cabinet or greater network connection                   believes that the proposal is consistent                and other business from, such market
                                               bandwidth are too burdensome.                           with the Act.                                           participants. If a particular exchange
                                                  The Exchange believes that the                                                                               charges excessive fees for co-location
                                               proposed change to have Users that                      B. Self-Regulatory Organization’s                       services, affected market participants
                                               already purchased a Partial Cabinet                     Statement on Burden on Competition                      will opt to terminate their co-location
                                               Solution bundle have the duration of                      In accordance with Section 6(b)(8) of                 arrangements with that exchange, and
                                               their 50% reduction increased from 12                   the Act,15 the Exchange believes that the               adopt a possible range of alternative
                                               months to 24 months is designed to                      proposed rule changes will not impose                   strategies, including placing their
                                               prevent fraudulent and manipulative                     any burden on competition that is not                   servers in a physically proximate
                                               acts and practices, to promote just and                 necessary or appropriate in furtherance                 location outside the exchange’s data
                                               equitable principles of trade, to foster                of the purposes of the Act because, in                  center (which could be a competing
                                               cooperation and coordination with                       addition to the proposed services being                 exchange), or pursuing strategies less
                                               persons engaged in regulating, clearing,                completely voluntary, they are available                dependent upon the lower exchange-to-
                                               settling, processing information with                   to all Users on an equal basis (i.e. the                participant latency associated with co-
                                               respect to, and facilitating transactions               same products and services are available                location. Accordingly, the exchange
                                               in securities, to remove impediments to,                to all Users, and the extension of the                  charging excessive fees would stand to
                                               and perfect the mechanisms of, a free                   50% reduction for the MRC for the                       lose not only co-location revenues but
                                               and open market and a national market                   Partial Cabinet Solution bundles, and                   also the liquidity of the formerly co-
                                               system and, in general, to protect                      the increased duration of the reduction,                located trading firms, which could have
                                               investors and the public interest and                   would apply to all Users).                              additional follow-on effects on the
                                               because it is not designed to permit                      The Exchange believes that extending                  market share and revenue of the affected
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                                               unfair discrimination between                           the 50% reduction in the MRC and                        exchange. In such an environment, the
                                               customers, issuers, brokers, or dealers,                increasing the duration of the reduction                Exchange must continually review, and
                                               because it would ensure that all Users                  will not impose any burden on                           consider adjusting, its services and
                                               that purchase a Partial Cabinet Solution                competition that is not necessary or                    related fees and credits to remain
                                               bundle prior to December 31, 2018                                                                               competitive with other exchanges.
                                               benefit from the 50% reduction for a                      14 15   U.S.C. 78f(b)(4).                                For the reasons described above, the
                                               total of 24 months.                                       15 15   U.S.C. 78f(b)(8).                             Exchange believes that the proposed


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                                                                          Federal Register / Vol. 82, No. 237 / Tuesday, December 12, 2017 / Notices                                                  58465

                                               rule changes reflect this competitive                   Commission’s internet website (http://                LLC (‘‘Exchange’’ or ‘‘NYSE American’’)
                                               environment.                                            www.sec.gov/rules/sro.shtml). Copies of               filed with the Securities and Exchange
                                                                                                       the submission, all subsequent                        Commission (the ‘‘Commission’’) the
                                               C. Self-Regulatory Organization’s
                                                                                                       amendments, all written statements                    proposed rule change as described in
                                               Statement on Comments on the
                                                                                                       with respect to the proposed rule                     Items I and II below, which Items have
                                               Proposed Rule Change Received From                      change that are filed with the                        been prepared by the self-regulatory
                                               Members, Participants, or Others                        Commission, and all written                           organization. The Commission is
                                                 No written comments were solicited                    communications relating to the                        publishing this notice to solicit
                                               or received with respect to the proposed                proposed rule change between the                      comments on the proposed rule change
                                               rule change.                                            Commission and any person, other than                 from interested persons.
                                                                                                       those that may be withheld from the
                                               III. Date of Effectiveness of the                                                                             I. Self-Regulatory Organization’s
                                                                                                       public in accordance with the
                                               Proposed Rule Change and Timing for                                                                           Statement of the Terms of Substance of
                                                                                                       provisions of 5 U.S.C. 552, will be
                                               Commission Action                                                                                             the Proposed Rule Change
                                                                                                       available for website viewing and
                                                  The foregoing rule change has become                 printing in the Commission’s Public                      The Exchange proposes to amend the
                                               effective pursuant to Section                           Reference Room, 100 F Street NE,                      NYSE American Equities Price List
                                               19(b)(3)(A) 16 of the Act and                           Washington, DC 20549 on official                      (‘‘Price List’’) and the NYSE American
                                               subparagraph (f)(2) of Rule 19b–4 17                    business days between the hours of                    Options Fee Schedule (‘‘Fee Schedule’’)
                                               thereunder. At any time within 60 days                  10:00 a.m. and 3:00 p.m. Copies of the                to modify the fees related to four
                                               of the filing of such proposed rule                     filing also will be available for                     bundles of co-location services (‘‘Partial
                                               change, the Commission summarily may                    inspection and copying at the principal               Cabinet Solution bundles’’) in
                                               temporarily suspend such rule change if                 office of the Exchange. All comments                  connection with the Exchange’s co-
                                               it appears to the Commission that such                  received will be posted without change.               location services. The Exchange
                                               action is necessary or appropriate in the               Persons submitting comments are                       proposes to implement the fee changes
                                               public interest, for the protection of                  cautioned that we do not redact or edit               effective January 1, 2018. The proposed
                                               investors, or otherwise in furtherance of               personal identifying information from                 change is available on the Exchange’s
                                               the purposes of the Act. If the                         comment submissions. You should                       website at www.nyse.com, at the
                                               Commission takes such action, the                       submit only information that you wish                 principal office of the Exchange, and at
                                               Commission shall institute proceedings                  to make available publicly. All                       the Commission’s Public Reference
                                               under Section 19(b)(2)(B) 18 of the Act to              submissions should refer to File                      Room.
                                               determine whether the proposed rule                     Number SR–NYSEARCA–2017–134 and
                                               change should be approved or                            should be submitted on or before                      II. Self-Regulatory Organization’s
                                               disapproved.                                            January 2, 2018.                                      Statement of the Purpose of, and
                                                                                                                                                             Statutory Basis for, the Proposed Rule
                                               IV. Solicitation of Comments                              For the Commission, by the Division of              Change
                                                                                                       Trading and Markets, pursuant to delegated
                                                 Interested persons are invited to                     authority.19                                             In its filing with the Commission, the
                                               submit written data, views, and                         Eduardo A. Aleman,                                    self-regulatory organization included
                                               arguments concerning the foregoing,                     Assistant Secretary.                                  statements concerning the purpose of,
                                               including whether the proposed rule                     [FR Doc. 2017–26688 Filed 12–11–17; 8:45 am]          and basis for, the proposed rule change
                                               change is consistent with the Act.                                                                            and discussed any comments it received
                                                                                                       BILLING CODE 8011–01–P
                                               Comments may be submitted by any of                                                                           on the proposed rule change. The text
                                               the following methods:                                                                                        of those statements may be examined at
                                               Electronic Comments                                     SECURITIES AND EXCHANGE                               the places specified in Item IV below.
                                                                                                       COMMISSION                                            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/                       [Release No. 34–82224; File No. SR–                   of the most significant parts of such
                                               rules/sro.shtml); or                                    NYSEAMER–2017–35]
                                                                                                                                                             statements.
                                                  • Send an email to rule-comments@
                                               sec.gov. Please include File Number SR–                 Self-Regulatory Organizations; NYSE                   A. Self-Regulatory Organization’s
                                                                                                       American LLC; Notice of Filing and                    Statement of the Purpose of, and the
                                               NYSEARCA–2017–134 on the subject
                                                                                                       Immediate Effectiveness of Proposed                   Statutory Basis for, the Proposed Rule
                                               line.
                                                                                                       Change To Amend the NYSE American                     Change
                                               Paper Comments                                          Equities Price List and the NYSE
                                                                                                       American Options Fee Schedule To                      1. Purpose
                                                 • Send paper comments in triplicate
                                               to Secretary, Securities and Exchange                   Modify the Fees Related to Four                          The Exchange proposes to amend the
                                               Commission, 100 F Street NE,                            Bundles of Co-Location Services in                    Exchange’s Price List and Fee Schedule
                                               Washington, DC 20549–1090.                              Connection With the Exchange’s Co-                    to modify the fees related to Partial
                                                                                                       Location Services                                     Cabinet Solution bundles in connection
                                               All submissions should refer to File
                                               Number SR–NYSEARCA–2017–134.                                                                                  with the Exchange’s co-location
                                                                                                       December 6, 2017.
                                               This file number should be included on                                                                        services.4
                                                                                                          Pursuant to Section 19(b)(1) 1 of the
                                               the subject line if email is used. To help              Securities Exchange Act of 1934                          4 The Exchange initially filed rule changes
                                               the Commission process and review                       (‘‘Act’’) 2 and Rule 19b–4 thereunder,3
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                                                                                                                                                             relating to its co-location services with the
                                               your comments more efficiently, please                  notice is hereby given that, on                       Securities and Exchange Commission
                                               use only one method. The Commission                     November 22, 2017, NYSE American                      (‘‘Commission’’) in 2010. See Securities Exchange
                                               will post all comments on the                                                                                 Act Release No. 62961 (September 21, 2010), 75 FR
                                                                                                         19 17
                                                                                                                                                             59299 (September 27, 2010) (SR–NYSEAmex–2010–
                                                                                                               CFR 200.30–3(a)(12).                          80) (the ‘‘Original Co-location Filing’’). The
                                                 16 15 U.S.C. 78s(b)(3)(A).                              1 15 U.S.C. 78s(b)(1).                              Exchange operates a data center in Mahwah, New
                                                 17 17 CFR 240.19b–4(f)(2).                              2 15 U.S.C. 78a.
                                                                                                                                                             Jersey (the ‘‘data center’’) from which it provides
                                                 18 15 U.S.C. 78s(b)(2)(B).                              3 17 CFR 240.19b–4.                                 co-location services to Users.



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Document Created: 2018-10-25 10:49:25
Document Modified: 2018-10-25 10:49:25
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 Citation82 FR 58462 

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