82 FR 58465 - Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend the NYSE American Equities Price List and the NYSE American Options Fee Schedule 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 | 58465-58468 | |
| FR Document | 2017-26686 |
[Federal Register Volume 82, Number 237 (Tuesday, December 12, 2017)] [Notices] [Pages 58465-58468] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-26686] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION [Release No. 34-82224; File No. SR-NYSEAMER-2017-35] Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To Amend the NYSE American Equities Price List and the NYSE American Options Fee Schedule 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 American LLC (``Exchange'' or ``NYSE American'') filed with the Securities and Exchange Commission (the ``Commission'') the proposed rule change as described in Items I and II below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. --------------------------------------------------------------------------- \1\ 15 U.S.C. 78s(b)(1). \2\ 15 U.S.C. 78a. \3\ 17 CFR 240.19b-4. --------------------------------------------------------------------------- I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the NYSE American Equities Price List (``Price List'') and the NYSE American Options Fee Schedule (``Fee Schedule'') 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 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 and Fee Schedule 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. 62961 (September 21, 2010), 75 FR 59299 (September 27, 2010) (SR- NYSEAmex-2010-80) (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. --------------------------------------------------------------------------- [[Page 58466]] 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. 77071 (Feb. 5, 2016), 81 FR 7382 (Feb. 11, 2016) (SR-NYSEMKT-2015-89). --------------------------------------------------------------------------- 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. 76009 (September 29, 2015), 80 FR 60213 (October 5, 2015) (SR-NYSEMKT-2015-67). As specified in the Price List and Fee Schedule, 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 Arca, Inc. (``NYSE Arca'' and, together with NYSE LLC, the ``Affiliate SROs''). See Securities Exchange Act Release No. 70176 (August 13, 2013), 78 FR 50471 (August 19, 2013) (SR-NYSEMKT-2013- 67). \7\ See Securities Exchange Act No. 79717 (Dec. 30, 2016), 82 FR 1767 (Jan. 6, 2017) (SR-NYSEMKT-2016-123). ---------------------------------------------------------------------------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 and Fee Schedule so that they read as follows: ------------------------------------------------------------------------ Type of service Description Amount of charge ------------------------------------------------------------------------ Partial Cabinet Solution Option A: 1 kW $7,500 initial bundles. partial cabinet, 1 charge per bundle Note: A User and its LCN connection (1 plus monthly charge Affiliates are limited to Gb), 1 IP network per bundle as one Partial Cabinet connection (1 Gb), follows: Solution bundle at a time. 2 fiber cross For Users A User and its Affiliates connections and that order on or must have an Aggregate either the Network before December 31, Cabinet Footprint of 2 kW Time Protocol Feed 2018: $3,000 or less to qualify for a or Precision Timing monthly for first Partial Cabinet Solution Protocol. 24 months of bundle. See Note 2 under service, and $6,000 ``General Notes.''. monthly thereafter. For Users that order after December 31, 2018: $6,000 monthly. Option B: 2 kW $7,500 initial partial cabinet, 1 charge per bundle LCN connection (1 plus monthly charge Gb), 1 IP network per bundle as connection (1 Gb), follows: 2 fiber cross For Users connections and that order on or either the Network before December 31, Time Protocol Feed 2018: $3,500 or Precision Timing monthly for first Protocol. 24 months of service, and $7,000 monthly thereafter. For Users that order after December 31, 2018: $7,000 monthly. Option C: 1 kW $10,000 initial partial cabinet, 1 charge per bundle LCN connection (10 plus monthly charge Gb), 1 IP network per bundle as connection (10 Gb), follows: 2 fiber cross For Users connections and that order on or either the Network before December 31, Time Protocol Feed 2018: $7,000 or Precision Timing monthly for first Protocol. 24 months of service, and $14,000 monthly thereafter. For Users that order after December 31, 2018: $14,000 monthly. Option D: 2 kW $10,000 initial partial cabinet, 1 charge per bundle LCN connection (10 plus monthly charge Gb), 1 IP network per bundle as connection (10 Gb), follows: 2 fiber cross For Users connections and that order on or either the Network before December 31, Time Protocol Feed 2018: $7,500 or Precision Timing monthly for first Protocol. 24 months of 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\ --------------------------------------------------------------------------- \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 [[Page 58467]] 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-NYSEMKT-2013-67, supra note 6, at 50471. 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-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 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. [[Page 58468]] 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. 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-NYSEAMER-2017-35 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-NYSEAMER-2017-35. 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-NYSEAMER-2017-35 and should be submitted on or before January 2, 2018. --------------------------------------------------------------------------- \19\ 17 CFR 200.30-3(a)(12). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\19\ Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2017-26686 Filed 12-11-17; 8:45 am] BILLING CODE 8011-01-P
![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
ethrower on DSK3G9T082PROD with NOTICES
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.
VerDate Sep<11>2014 20:03 Dec 11, 2017 Jkt 244001 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 E:\FR\FM\12DEN1.SGM 12DEN1](https://thefederalregister.org/doc/82_FR_58702/page/1.svg)
![58468 Federal Register / Vol. 82, No. 237 / Tuesday, December 12, 2017 / Notices
The proposed changes will also 19(b)(3)(A) 16 of the Act and Washington, DC 20549 on official
enhance competition by making it more subparagraph (f)(2) of Rule 19b–4 17 business days between the hours of
cost effective for Users that purchase a thereunder. At any time within 60 days 10:00 a.m. and 3:00 p.m. Copies of the
Partial Cabinet Solution bundle to of the filing of such proposed rule filing also will be available for
utilize co-location by creating a change, the Commission summarily may inspection and copying at the principal
convenient way to create a colocation temporarily suspend such rule change if office of the Exchange. All comments
environment, through Partial Cabinet it appears to the Commission that such received will be posted without change.
Solution bundles with options with action is necessary or appropriate in the Persons submitting comments are
respect to cabinet footprint and network public interest, for the protection of cautioned that we do not redact or edit
connections at a reduced MRC for the investors, or otherwise in furtherance of personal identifying information from
first 24 months. Such Users may choose the purposes of the Act. If the comment submissions. You should
to pass on such cost savings to their Commission takes such action, the submit only information that you wish
customers. Commission shall institute proceedings to make available publicly. All
The Exchange operates in a highly under Section 19(b)(2)(B) 18 of the Act to submissions should refer to File
competitive market in which exchanges determine whether the proposed rule Number SR–NYSEAMER–2017–35 and
change should be approved or should be submitted on or before
offer co-location services as a means to
disapproved. January 2, 2018.
facilitate the trading and other market
activities of those market participants IV. Solicitation of Comments For the Commission, by the Division of
who believe that co-location enhances Trading and Markets, pursuant to delegated
Interested persons are invited to authority.19
the efficiency of their operations.
submit written data, views, and Eduardo A. Aleman,
Accordingly, fees charged for co-
arguments concerning the foregoing, Assistant Secretary.
location services are constrained by the
including whether the proposed rule [FR Doc. 2017–26686 Filed 12–11–17; 8:45 am]
active competition for the order flow of,
change is consistent with the Act.
and other business from, such market BILLING CODE 8011–01–P
Comments may be submitted by any of
participants. If a particular exchange
the following methods:
charges excessive fees for co-location
services, affected market participants Electronic Comments SECURITIES AND EXCHANGE
will opt to terminate their co-location COMMISSION
• Use the Commission’s internet
arrangements with that exchange, and comment form (http://www.sec.gov/ Proposed Collection; Comment
adopt a possible range of alternative rules/sro.shtml); or Request
strategies, including placing their • Send an email to rule-comments@
servers in a physically proximate sec.gov. Please include File Number SR– Upon Written Request, Copies Available
location outside the exchange’s data NYSEAMER–2017–35 on the subject From: Securities and Exchange
center (which could be a competing line. Commission, Office of FOIA Services,
exchange), or pursuing strategies less 100 F Street NE, Washington, DC
dependent upon the lower exchange-to- Paper Comments 20549–2736.
participant latency associated with co- • Send paper comments in triplicate Extension:
location. Accordingly, the exchange to Secretary, Securities and Exchange Form 2–E under Rule 609, SEC File No.
charging excessive fees would stand to Commission, 100 F Street NE, 270–222, OMB Control No. 3235–0233
lose not only co-location revenues but Washington, DC 20549–1090. Notice is hereby given that, pursuant
also the liquidity of the formerly co- All submissions should refer to File to the Paperwork Reduction Act of 1995
located trading firms, which could have Number SR–NYSEAMER–2017–35. This (44 U.S.C. 3501 et seq.), the Securities
additional follow-on effects on the file number should be included on the and Exchange Commission (the
market share and revenue of the affected subject line if email is used. To help the ‘‘Commission’’) is soliciting comments
exchange. In such an environment, the Commission process and review your on the collection of information
Exchange must continually review, and comments more efficiently, please use summarized below. The Commission
consider adjusting, its services and only one method. The Commission will plans to submit this existing collection
related fees and credits to remain post all comments on the Commission’s of information to the Office of
competitive with other exchanges. internet website (http://www.sec.gov/ Management and Budget (‘‘OMB’’) for
For the reasons described above, the rules/sro.shtml). Copies of the extension and approval.
Exchange believes that the proposed submission, all subsequent Rule 609 (17 CFR 230.609) under the
rule changes reflect this competitive amendments, all written statements Securities Act of 1933 (15 U.S.C. 77a et
environment. with respect to the proposed rule seq.) requires small business investment
change that are filed with the companies and business development
C. Self-Regulatory Organization’s Commission, and all written companies that have engaged in
Statement on Comments on the communications relating to the offerings of securities that are exempt
Proposed Rule Change Received From proposed rule change between the from registration pursuant to Regulation
Members, Participants, or Others Commission and any person, other than E under the Securities Act of 1933 (17
No written comments were solicited those that may be withheld from the CFR 230.601 to 610a) to report semi-
or received with respect to the proposed public in accordance with the annually on Form 2–E (17 CFR 239.201)
provisions of 5 U.S.C. 552, will be the progress of the offering. The form
ethrower on DSK3G9T082PROD with NOTICES
rule change.
available for website viewing and solicits information such as the dates an
III. Date of Effectiveness of the printing in the Commission’s Public offering commenced and was completed
Proposed Rule Change and Timing for Reference Room, 100 F Street NE, (if completed), the number of shares
Commission Action sold and still being offered, amounts
16 15 U.S.C. 78s(b)(3)(A). received in the offering, and expenses
The foregoing rule change has become 17 17 CFR 240.19b–4(f)(2).
effective pursuant to Section 18 15 U.S.C. 78s(b)(2)(B). 19 17 CFR 200.30–3(a)(12).
VerDate Sep<11>2014 20:03 Dec 11, 2017 Jkt 244001 PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 E:\FR\FM\12DEN1.SGM 12DEN1](https://thefederalregister.org/doc/82_FR_58702/page/4.svg)
Document Created: 2018-10-25 10:47:40
Document Modified: 2018-10-25 10:47:40
| 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 58465 |
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