Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to the NYSE MKT LLC Equities Proprietary Market Data Fee Schedule (“Market Data Fee Schedule”) Regarding Non-Display Use Fees, 69961-69963 [2014-27698]
Download as PDF
<![CDATA[
Federal Register / Vol. 79, No. 226 / Monday, November 24, 2014 / Notices
not: (1) significantly affect the
protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 22 and Rule 19b–
4(f)(6) 23 thereunder. At any time within
60 days of the filing of the 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 will institute proceedings
to determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
CBOE–2014–085 on the subject line.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
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–CBOE–2014–085. This file
number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://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
22 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires the Exchange to give the
Commission written notice of the Exchange’s intent
to file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Exchange
has satisfied this requirement.
23 17
VerDate Sep<11>2014
20:32 Nov 21, 2014
Jkt 235001
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE.,
Washington, DC 20549, on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–CBOE–
2014–085 and should be submitted on
or before December 15, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.24
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–27706 Filed 11–21–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–73620; File No. SR–
NYSEMKT–2014–96]
Self-Regulatory Organizations; NYSE
MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change to the NYSE MKT LLC
Equities Proprietary Market Data Fee
Schedule (‘‘Market Data Fee
Schedule’’) Regarding Non-Display
Use Fees
November 18, 2014.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b-4 thereunder,3
notice is hereby given that on November
7, 2014, NYSE MKT LLC (the
‘‘Exchange’’ or ‘‘NYSE MKT’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory organization. The
Commission is publishing this notice to
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
69961
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes Change to the
NYSE MKT LLC Equities Proprietary
Market Data Fee Schedule (‘‘Market
Data Fee Schedule’’) regarding nondisplay use fees.
The text of the proposed rule change
is available on the Exchange’s Web site
at www.nyse.com, at the principal office
of the Exchange, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes a change to
the Market Data Fee Schedule regarding
non-display use fees for NYSE MKT
OpenBook, NYSE MKT Trades, NYSE
MKT BBO and NYSE MKT Order
Imbalances, the market data products to
which non-display use fees apply.
Specifically, with respect to the three
categories of, and fees applicable to,
market data recipients for non-display
use, the Exchange proposes to describe
the three categories in the Market Data
Fee Schedule.
In September 2014, the Exchange
revised the fees for non-display use of
NYSE MKT OpenBook, NYSE MKT
Trades, and NYSE MKT BBO and added
fees for non-display use of NYSE MKT
Order Imbalances.4 In the 2014 Filing,
the Exchange proposed certain changes
to the categories of, and fees applicable
to, data recipients for non-display use.
As set forth in the 2014 Filing: (i)
Category 1 Fees apply when a data
recipient’s non-display use of real-time
market data is on its own behalf as
24 17
1 15
PO 00000
Frm 00140
Fmt 4703
Sfmt 4703
4 See Securities Exchange Act Release No. 72020
(September 9, 2014), 79 FR 55040 (September 15,
2014) (SR–NYSEMKT–2014–72) (‘‘2014 Filing’’).
E:\FR\FM\24NON1.SGM
24NON1
69962
Federal Register / Vol. 79, No. 226 / Monday, November 24, 2014 / Notices
opposed to use on behalf of its clients;
(ii) Category 2 Fees apply when a data
recipient’s non-display use of real-time
market data is on behalf of its clients as
opposed to use on its own behalf; and
(iii) Category 3 Fees apply when a data
recipient’s non-display use of real-time
market data is for the purpose of
internally matching buy and sell orders
within an organization, including
matching customer orders on a data
recipient’s own behalf and/or on behalf
of its clients. The Market Data Fee
Schedule currently lists each category as
Category 1, Category 2, and Category 3,
without further description.
The Exchange is proposing to amend
the Market Data Fee Schedule to add the
descriptions of the three categories, as
set forth above, as a footnote to the
Market Data Fee Schedule. Because
there will now be multiple footnotes to
the Market Data Fee Schedule, the
Exchange proposes non-substantive
edits to change the existing footnote
references from asterisks to numbers.
asabaliauskas on DSK5VPTVN1PROD with NOTICES
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 5 of the Act,
in general, and furthers the objectives of
Section 6(b)(5) 6 of the Act, in particular,
in that 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 facilitating transactions in securities,
to remove impediments to and perfect
the mechanism of a free and open
market and a national market system
and, in general, to protect investors and
the public interest, and it is not
designed to permit unfair
discrimination among customers,
brokers, or dealers.
The Exchange believes that adding the
description of the three categories of
data recipients for non-display use to
the Market Data Fee Schedule will
remove impediments to and help perfect
a free and open market by providing
greater transparency for the Exchange’s
customers regarding the category
descriptions that have been previously
filed with the Commission and are
applicable to the existing Market Data
Fee Schedule.7
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
5 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
7 See supra n. 4.
6 15
VerDate Sep<11>2014
20:32 Nov 21, 2014
Jkt 235001
of the purposes of the Act because the
Exchange is merely adding to the
Market Data Fee Schedule information
that has been previously filed with the
Commission.8
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 9 and Rule
19b–4(f)(6) thereunder.10 Because the
foregoing proposed rule does not (i)
significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
for 30 days from the date on which it
was filed, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, provided that the selfregulatory organization has given the
Commission written notice of its intent
to file the proposed rule change at least
five business days prior to the date of
filing of the proposed rule change or
such shorter time as designated by the
Commission,11 the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 12 and
Rule 19b–4(f)(6) thereunder.13
A proposed rule change filed under
Rule 19b–4(f)(6) 14 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(f)(6)(iii),15 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has requested that the
Commission waive the 30-day delayed
operative date so that the proposed rule
change may become effective and
operative upon filing with the
Commission pursuant to Section
19(b)(3)(A) of the Act 16 and Rule 19b–
4(f)(6) 17 thereunder. The Commission
believes that the proposal raises no
novel issues and that adding the
8 See
supra n. 4.
U.S.C. 78s(b)(3)(A)(iii).
10 17 CFR 240.19b–4(f)(6).
11 The Exchange has satisfied this requirement.
12 15 U.S.C. 78s(b)(3)(A).
13 17 CFR 240.19b–4(f)(6).
14 Id.
15 17 CFR 240.19b–4(f)(6)(iii).
16 15 U.S.C. 78s(b)(3)(A).
17 17 CFR 240.19b–4(f)(6).
9 15
PO 00000
Frm 00141
Fmt 4703
Sfmt 4703
description of the categories of market
data recipients for non-display use to
the Market Data Fee Schedule is
consistent with the protection of
investors and the public interest
because it will provide more
transparency in the Exchange’s Market
Data Fee Schedule regarding the
existing definitions in that schedule.
Based on the foregoing, the Commission
has determined to waive the 30-day
operative date so that the proposal may
take effect upon filing.18
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) 19 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSEMKT–2014–96 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSEMKT–2014–96. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
18 For purposes only of accelerating the operative
date of this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
19 15 U.S.C. 78s(b)(2)(B).
E:\FR\FM\24NON1.SGM
24NON1
Federal Register / Vol. 79, No. 226 / Monday, November 24, 2014 / Notices
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE.,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the
filing will also be available for
inspection and copying at the NYSE’s
principal office and on its Internet Web
site at www.nyse.com. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–
NYSEMKT–2014–96 and should be
submitted on or before December 15,
2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2014–27698 Filed 11–21–14; 8:45 am]
BILLING CODE 8011–01–P
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to the
Pricing Schedule
asabaliauskas on DSK5VPTVN1PROD with NOTICES
November 18, 2014.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that, on
November 14, 2014 NASDAQ OMX
PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I, II, and III, below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
VerDate Sep<11>2014
20:32 Nov 21, 2014
Jkt 235001
The Exchange proposes to amend its
Pricing Schedule to conform certain
terminology to Rule 507, Application for
Approval as an SQT, RSQT, RSQTO and
Assignment in Options’’ as it relates to
Remote Market Makers or ‘‘RMMs.’’ The
Exchange also proposes to make other
clarifying and corrective amendments to
various sections of the Pricing Schedule.
The text of the proposed rule change
is set forth below. Proposed new
language is italicized; deleted text is in
brackets.
NASDAQ OMX PHLX LLC 1 PRICING
SCHEDULE
ALL BILLING DISPUTES MUST BE
SUBMITTED TO THE EXCHANGE IN
WRITING AND MUST BE
ACCOMPANIED BY SUPPORTING
DOCUMENTATION. ALL DISPUTES
MUST BE SUBMITTED NO LATER
THAN SIXTY (60) DAYS AFTER
RECEIPT OF A BILLING INVOICE,
EXCEPT FOR DISPUTES CONCERNING
NASDAQ OMX PSX FEES,
PROPRIETARY DATA FEED FEES AND
CO-LOCATION SERVICES FEES. AS OF
JANUARY 3, 2011, THE EXCHANGE
WILL CALCULATE FEES ON A TRADE
DATE BASIS.
*
[Release No. 34–73629; File No. SR–Phlx–
2014–75]
1 15
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
——————
1 PHLX® is a registered trademark of The
NASDAQ OMX Group, Inc.
SECURITIES AND EXCHANGE
COMMISSION
20 17
proposed rule change from interested
persons.
*
*
*
*
PREFACE
For purposes of assessing fees, the
following references should serve as
guidance.
The term ‘‘Customer’’ applies to any
transaction that is identified by a
member or member organization for
clearing in the Customer range at The
Options Clearing Corporation (‘‘OCC’’)
which is not for the account of a broker
or dealer or for the account of a
‘‘Professional’’ (as that term is defined
in Rule 1000(b)(14)). 2
The term ‘‘Specialist’’ applies to
transactions for the account of a
Specialist 3 (as defined in Exchange
Rule 1020(a)).
The term ‘‘ROT, SQT and RSQT’’
applies to transactions for the accounts
of Registered Option Traders4 (‘‘ROTs’’),
Streaming Quote Traders (‘‘SQTs’’),5
and Remote Streaming Quote Traders
(‘‘RSQTs’’). 6 For purposes of the Pricing
Schedule, the term ‘‘Market Maker’’ will
be utilized to describe fees and rebates
applicable to ROTs, SQTs and RSQTs.
PO 00000
Frm 00142
Fmt 4703
Sfmt 4703
69963
RSQTs may also be referred to as
Remote Market Markers (‘‘RMMs’’).
The term ‘‘Firm’’ applies to any
transaction that is identified by a
member or member organization for
clearing in the Firm range at OCC.
The term ‘‘Professional’’ applies to
transactions for the accounts of
Professionals (as defined in Exchange
Rule 1000(b)(14)).
The term ‘‘Broker-Dealer’’ applies to
any transaction which is not subject to
any of the other transaction fees
applicable within a particular category.
The term ‘‘Joint Back Office’’ or
‘‘JBO’’ 7 applies to any transaction that
is identified by a member or member
organization for clearing in the Firm
range at OCC and is identified with an
origin code as a JBO. A JBO will be
priced the same as a Broker-Dealer. [as
of September 1, 2014.]
The term ‘‘Common Ownership’’ shall
mean members or member organizations
under 75% common ownership or
control.
For purposes of determining average
daily volume or volume-based pricing
hereunder, any day that the market is
not open for the entire trading day will
be excluded from such calculation.
2 Rule 1000(b)(14) provides in relevant
part: ‘‘The term ‘‘professional’’ means any
person or entity that (i) is not a broker or
dealer in securities, and (ii) places more than
390 orders in listed options per day on
average during a calendar month for its own
beneficial account(s).
3 A Specialist is an Exchange member who
is registered as an options specialist pursuant
to Rule 1020(a). An options Specialist
includes a Remote Specialist which is [a]
defined as an options specialist in one or
more classes that does not have a physical
presence on an Exchange floor and is
approved by the Exchange pursuant to Rule
501.
4 A Registered Option Trader is defined in
Exchange Rule 1014(b) as a regular member
of the Exchange located on the trading floor
who has received permission from the
Exchange to trade in options for his own
account. A ROT includes SQTs and RSQTs
as well as on and off-floor ROTS.
5 A Streaming Quote Trader is defined in
Exchange Rule 1014(b)(ii)(A) as an ROT who
has received permission from the Exchange
to generate and submit option quotations
electronically in options to which such SQT
is assigned.
6 A Remote Streaming Quote Trader is
defined in Exchange Rule in 1014(b)(ii)(B) as
an ROT that is a member affiliated with an
RSQTO with no physical trading floor
presence who has received permission from
the Exchange to generate and submit option
quotations electronically in options to which
such RSQT has been assigned. A Remote
Streaming Quote Trader Organization or
‘‘RSQTO,’’ which may also be referred to as
a Remote Market Making Organization
(‘‘RMO’’), is a member organization in good
E:\FR\FM\24NON1.SGM
24NON1
]]>Agencies
[Federal Register Volume 79, Number 226 (Monday, November 24, 2014)]
[Notices]
[Pages 69961-69963]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-27698]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-73620; File No. SR-NYSEMKT-2014-96]
Self-Regulatory Organizations; NYSE MKT LLC; Notice of Filing and
Immediate Effectiveness of Proposed Rule Change to the NYSE MKT LLC
Equities Proprietary Market Data Fee Schedule (``Market Data Fee
Schedule'') Regarding Non-Display Use Fees
November 18, 2014.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that on November 7, 2014, NYSE MKT LLC (the ``Exchange'' or
``NYSE MKT'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes Change to the NYSE MKT LLC Equities
Proprietary Market Data Fee Schedule (``Market Data Fee Schedule'')
regarding non-display use fees.
The text of the proposed rule change is available on the Exchange's
Web site at www.nyse.com, at the principal office of the Exchange, and
at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes a change to the Market Data Fee Schedule
regarding non-display use fees for NYSE MKT OpenBook, NYSE MKT Trades,
NYSE MKT BBO and NYSE MKT Order Imbalances, the market data products to
which non-display use fees apply. Specifically, with respect to the
three categories of, and fees applicable to, market data recipients for
non-display use, the Exchange proposes to describe the three categories
in the Market Data Fee Schedule.
In September 2014, the Exchange revised the fees for non-display
use of NYSE MKT OpenBook, NYSE MKT Trades, and NYSE MKT BBO and added
fees for non-display use of NYSE MKT Order Imbalances.\4\ In the 2014
Filing, the Exchange proposed certain changes to the categories of, and
fees applicable to, data recipients for non-display use. As set forth
in the 2014 Filing: (i) Category 1 Fees apply when a data recipient's
non-display use of real-time market data is on its own behalf as
[[Page 69962]]
opposed to use on behalf of its clients; (ii) Category 2 Fees apply
when a data recipient's non-display use of real-time market data is on
behalf of its clients as opposed to use on its own behalf; and (iii)
Category 3 Fees apply when a data recipient's non-display use of real-
time market data is for the purpose of internally matching buy and sell
orders within an organization, including matching customer orders on a
data recipient's own behalf and/or on behalf of its clients. The Market
Data Fee Schedule currently lists each category as Category 1, Category
2, and Category 3, without further description.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 72020 (September 9,
2014), 79 FR 55040 (September 15, 2014) (SR-NYSEMKT-2014-72) (``2014
Filing'').
---------------------------------------------------------------------------
The Exchange is proposing to amend the Market Data Fee Schedule to
add the descriptions of the three categories, as set forth above, as a
footnote to the Market Data Fee Schedule. Because there will now be
multiple footnotes to the Market Data Fee Schedule, the Exchange
proposes non-substantive edits to change the existing footnote
references from asterisks to numbers.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) \5\ of the
Act, in general, and furthers the objectives of Section 6(b)(5) \6\ of
the Act, in particular, in that 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 facilitating transactions in securities, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system and, in general, to protect investors and the
public interest, and it is not designed to permit unfair discrimination
among customers, brokers, or dealers.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that adding the description of the three
categories of data recipients for non-display use to the Market Data
Fee Schedule will remove impediments to and help perfect a free and
open market by providing greater transparency for the Exchange's
customers regarding the category descriptions that have been previously
filed with the Commission and are applicable to the existing Market
Data Fee Schedule.\7\
---------------------------------------------------------------------------
\7\ See supra n. 4.
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act because the Exchange is
merely adding to the Market Data Fee Schedule information that has been
previously filed with the Commission.\8\
---------------------------------------------------------------------------
\8\ See supra n. 4.
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder.\10\
Because the foregoing proposed rule does not (i) significantly affect
the protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative for 30
days from the date on which it was filed, or such shorter time as the
Commission may designate if consistent with the protection of investors
and the public interest, provided that the self-regulatory organization
has given the Commission written notice of its intent to file the
proposed rule change at least five business days prior to the date of
filing of the proposed rule change or such shorter time as designated
by the Commission,\11\ the proposed rule change has become effective
pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b-4(f)(6)
thereunder.\13\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A)(iii).
\10\ 17 CFR 240.19b-4(f)(6).
\11\ The Exchange has satisfied this requirement.
\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under Rule 19b-4(f)(6) \14\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\15\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has
requested that the Commission waive the 30-day delayed operative date
so that the proposed rule change may become effective and operative
upon filing with the Commission pursuant to Section 19(b)(3)(A) of the
Act \16\ and Rule 19b-4(f)(6) \17\ thereunder. The Commission believes
that the proposal raises no novel issues and that adding the
description of the categories of market data recipients for non-display
use to the Market Data Fee Schedule is consistent with the protection
of investors and the public interest because it will provide more
transparency in the Exchange's Market Data Fee Schedule regarding the
existing definitions in that schedule. Based on the foregoing, the
Commission has determined to waive the 30-day operative date so that
the proposal may take effect upon filing.\18\
---------------------------------------------------------------------------
\14\ Id.
\15\ 17 CFR 240.19b-4(f)(6)(iii).
\16\ 15 U.S.C. 78s(b)(3)(A).
\17\ 17 CFR 240.19b-4(f)(6).
\18\ For purposes only of accelerating the operative date of
this proposal, the Commission has considered the proposed rule's
impact on efficiency, competition, and capital formation. 15 U.S.C.
78c(f).
---------------------------------------------------------------------------
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) \19\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------
\19\ 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 (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-NYSEMKT-2014-96 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSEMKT-2014-96. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements
[[Page 69963]]
with respect to the proposed rule change that are filed with the
Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for Web site viewing and printing in
the Commission's Public Reference Room, 100 F Street NE., Washington,
DC 20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing will also be available for inspection
and copying at the NYSE's principal office and on its Internet Web site
at www.nyse.com. All comments received will be posted without change;
the Commission does not edit personal identifying information from
submissions. You should submit only information that you wish to make
available publicly. All submissions should refer to File Number SR-
NYSEMKT-2014-96 and should be submitted on or before December 15, 2014.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
---------------------------------------------------------------------------
\20\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-27698 Filed 11-21-14; 8:45 am]
BILLING CODE 8011-01-P
