Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a Proposed Rule Change Amending Its Schedule of Fees and Charges for Exchange Services, 25007-25009 [2010-10595]
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Federal Register / Vol. 75, No. 87 / Thursday, May 6, 2010 / Notices
trading days; (2) the value of the
underlying silver or underlying gold
[sic] is no longer calculated or available;
or (3) such other event occurs or
condition exists that in the opinion of
the Exchange makes further dealing on
the Exchange inadvisable.
Additionally, the ETFS Palladium
Trust and ETFS Platinum Trust shall
not be deemed to meet the requirements
for continued approval, and the
Exchange shall not open for trading any
additional series of option contracts of
the class covering the ETFS Palladium
Trust or the ETFS Platinum Trust,
respectively, if the ETFS Palladium
Trust or the ETFS Platinum Trust ceases
to be an ‘‘NMS stock’’ as provided for in
Rule 5.4(b)(5) or the ETFS Palladium
Trust or the ETFS Platinum Trust is
halted from trading on its primary
market.
The addition of the ETFS Palladium
Trust and ETFS Platinum Trust to Rule
5.3(g) will not have any effect on the
rules pertaining to position and exercise
limits 8 or margin.9
The Exchange represents that its
surveillance procedures applicable to
trading in options on the ETFS
Palladium Trust and ETFS Platinum
Trust will be similar to those applicable
to all other options on other ETFs
currently traded on the Exchange. Also,
the Exchange may obtain information
from the New York Mercantile
Exchange, Inc. (‘‘NYMEX’’) (a member of
the Intermarket Surveillance Group)
related to any financial instrument
traded there that is based, in whole or
part, upon an interest in or performance
of silver or gold [sic].
mstockstill on DSKH9S0YB1PROD with NOTICES
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 10 of the
Securities Exchange Act of 1934 (the
‘‘Act’’), in general, and furthers the
objectives of Section 6(b)(5) 11 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, and to remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
8 See Rule 6.8 regarding positions limits, and Rule
6.9 regarding exercise limits.
9 See Rules 4.15 and 4.16 regarding margins.
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(5).
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16:53 May 05, 2010
Jkt 220001
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) by order approve the proposed
rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
25007
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
a.m. and 3 p.m. Copies of such filing
also will be available for inspection and
copying at the principal office of NYSE
Arca. 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 No.
SR–NYSEArca–2010–25 and should be
submitted on or before May 27, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–10592 Filed 5–5–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61999; File No. SR–
NYSEArea–2010–15]
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
No. SR–NYSEArca–2010–25 on the
subject line.
Self-Regulatory Organizations; NYSE
Arca, Inc.; Order Approving a
Proposed Rule Change Amending Its
Schedule of Fees and Charges for
Exchange Services
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File No.
SR–NYSEArca–2010–25. This file
number should be included on the
subject line if e-mail 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
On March 5, 2010, NYSE Arca, Inc.
(‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’),1 and Rule
19b–4 thereunder,2 a proposed rule
change relating to co-location services
and related fees. The proposed rule
change was published for comment in
the Federal Register on March 26,
2010.3 The Commission received no
comment letters on the proposal. This
order approves the proposed rule
change.
PO 00000
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April 29, 2010.
I. Introduction
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 61748
(March 19, 2010), 75 FR 14644 (‘‘Notice’’).
1 15
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06MYN1
25008
Federal Register / Vol. 75, No. 87 / Thursday, May 6, 2010 / Notices
II. Description
In its proposal, NYSE Arca described
certain co-location services offered by
the Exchange, and proposed to amend
its Schedules of Fees and Charges for
Exchange Services for both its equities
and options platforms (the ‘‘Schedules’’)
in order to identify fees pertaining to
such co-location services.
Co-Location Services
The Exchange offers its Users 4 the
opportunity to rent space on premises
controlled by the Exchange so that they
may locate their electronic servers in
close physical proximity to the
Exchange’s trading and execution
systems. These co-location services are
currently provided at a data center
operated by a private third-party vendor
located in New Jersey, and Users may
rent space ranging from half cabinets up
to two full cabinets, with different
power usage capabilities ranging from 2
kilowatts up to 8 kilowatts. The services
provided include equipment
installation, cross connections, and
miscellaneous post-installation services
(including cable installation, equipment
racking and ‘‘remote-hands’’
maintenance). In the proposal, the
Exchange represents that the fees
assessed for the services and space
generally reflect the amount of space
used and power required.
NYSE Arca further represents that
Users that receive co-location services
from NYSE Arca do not receive any
means of access to the Exchange’s
trading and execution systems that is
separate from or superior to that of
Users that do not receive co-location
services. NYSE Arca further represents
that 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 Exchange’s
data center or not. In addition, the
Exchange represents that co-located
Users do not receive any market data or
data service product that is not available
to all Users. Finally, NYSE Arca notes
that although Users that receive co-
Half cabinet (up to 2 kW) ..............................................................................................................
Full cabinet (up to 2.5 kW) ...........................................................................................................
Full cabinet (up to 4 kW) ..............................................................................................................
Full cabinet (up to 8 kW) ..............................................................................................................
Miscellaneous services post installation (including cable installation services, equipment
racking services, and ongoing remote-hands maintenance).
Fiber cross connections (local and interfloor) .............................................................................
Less than half
cabinet 5
..................................................................................................................
Co-Location Fees
The Exchange’s proposed co-location
fees, which, in part, reflect power usage
priced at $1000 per kilowatt (‘‘kW’’) per
month, are reflected below.
$2,000 per month.
$2,500 one time installation
$2,500 per month.
$5,000 one time installation
$4,000 per month.
$5,000 one time installation
$8,000 per month.
$5,000 one time installation
$200 per hour.
fee.
fee.
fee.
fee.
$600 per month.
$950 one time installation fee.
$150 per Rack Unit.
After careful review, the Commission
finds that the proposed rule change is
consistent with the requirements of the
Act and the rules and regulations
thereunder applicable to a national
securities exchange.6 In particular, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(4) of the Act,7 which requires that
the rules of a national securities
exchange provide for the equitable
allocation of reasonable dues, fees and
other charges among its members and
issuers and other persons using its
facilities, and with Section 6(b)(5) of the
Act,8 which requires, among other
things, that the rules of a national
securities exchange be designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system and, in general, to protect
investors and the public interest, and
not be designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers.
The Commission believes that the
proposed co-location fees are equitably
allocated insofar as they are applied on
the same terms to similarly-situated
market participants. In addition, the
Commission believes that the colocation services described in the
proposed rule change are not unfairly
discriminatory because: (1) Co-location
services are offered to all Users who
request them and pay the appropriate
fees; (2) the Exchange has represented
that Users receiving co-location services
do not receive any means of access to
the Exchange’s trading and execution
systems that is separate from or superior
to that of Users that do not receive colocation services; (3) the Exchange has
represented that there are no material
differences in terms of access to the
Exchange between Users that choose to
co-locate and those that do not, other
than co-located Users’ reduced latencies
due to proximity; and (4) the Exchange
has stated that it has sufficient space to
accommodate current demand for colocation services on an equitable basis.
4 The term ‘‘User’’ means any ETP Holder or
Sponsored Participant who is authorized to obtain
access to the NYSE Arca Marketplace pursuant to
Rule 7.29, and any OTP Holder, OTP Firm or
Sponsored Participant that is authorized to obtain
access to OX pursuant to Rule 6.2A. See NYSE Arca
Equities Rule 1.1(yy) and NYSE Arca Options Rule
6.1A(a)(19).
5 The Exchange represents that it supports
existing arrangements to provide Users with less
than a half cabinet, but it does not offer that option
to new co-location Users.
6 In approving this proposal, the commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
7 15 U.S.C. 78f(b)(4).
8 15 U.S.C. 78f(b)(5).
III. Discussion and Commission’s
Findings
mstockstill on DSKH9S0YB1PROD with NOTICES
location services normally would expect
reduced latencies when sending orders
to the Exchange and receiving market
data from the Exchange, NYSE Arca
believes that other than these reduced
latencies, there are no material
differences in terms of access to the
Exchange between Users that choose to
co-locate and those that do not.
In the proposal, the Exchange
explained that it offers co-location space
based on availability, and believes that
it has sufficient space to accommodate
current demand on an equitable basis.
In addition, according to the Exchange,
any difference among the positions of
the cabinets within the data center does
not create any material difference
among co-location Users in terms of
access to the Exchange.
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16:53 May 05, 2010
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E:\FR\FM\06MYN1.SGM
06MYN1
Federal Register / Vol. 75, No. 87 / Thursday, May 6, 2010 / Notices
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,9 that the
proposed rule change (SR–NYSEArca–
2010–15) be, and hereby is, approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–10595 Filed 5–5–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
[Release No. 34–62003; File No. SR–
NYSEArca–2010–32]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Rule
Change Amending Its Fee Schedule
April 29, 2010.
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 April 21,
2010, NYSE Arca, Inc. (‘‘NYSE Arca’’ or
the ‘‘Exchange’’) filed with the Securities
and Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
mstockstill on DSKH9S0YB1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
Schedule of Fees and Charges for
Exchange Services (the ‘‘Schedule’’).
Changes to the Schedule pursuant to
this proposal will become operative on
April 21, 2010. The text of the proposed
rule change is available on the
Exchange’s Web site at https://
www.nyse.com, at the Exchange’s
principal office, on the Commission’s
Web site at https://www.sec.gov and at
the Commission’s Public Reference
Room.
9 15
U.S.C. 78s(b)(2).
10 17 CFR 200.30–3(a)(12).
1 15 U.S.C.78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
VerDate Mar<15>2010
16:53 May 05, 2010
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.
1. Purpose
The Exchange proposes to change the
pricing for Mid-Point Passive Liquidity
(‘‘MPL’’) Orders. Currently the rebate for
MPL Orders that provide liquidity in
Tape A and Tape C securities is $0.002
per share, and the rebate for MPL Order
that provide liquidity in Tape B
securities is $0.001 per share. There is
currently no fee for MPL Orders that
remove liquidity across all Tapes. Under
this proposal, MPL Orders will receive
a rebate of $0.0010 per share for orders
that provide liquidity and a fee of
$0.0010 for orders that take liquidity in
Tape A, Tape B, and Tape C securities.
These changes apply to all pricing
levels.
The proposed changes to the
Schedule are part of the Exchange’s
continued effort to attract and enhance
participation on the Exchange by
offering attractive rates for removing
liquidity and rebates for providing
liquidity. The Exchange believes the
proposed fees are reasonable and
equitable in that they apply uniformly
to all ETP Holders. The proposed
changes will become operative on April
21, 2010.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the
Securities Exchange Act of 1934 (the
‘‘Act’’),4 in general, and Section 6(b)(4)
of the Act,5 in particular, in that it is
designed to provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members and
other persons using its facilities. The
proposed changes to the Schedule are
part of the Exchange’s continued effort
4 15
5 15
Jkt 220001
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
Frm 00145
Fmt 4703
to attract and enhance participation on
the Exchange by offering attractive rates
for removing liquidity and rebates for
providing liquidity to the Exchange. The
proposed changes to the Schedule are
reasonable and equitable in that they
apply uniformly to all ETP Holders.
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.
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 is effective
upon filing pursuant to Section
19(b)(3)(A) 6 of the Act and
subparagraph (f)(2) of Rule 19b–4 7
thereunder, because it establishes a due,
fee, or other charge imposed by NYSE
Arca on its members.
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
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.
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 e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2010–32 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
6 15
7 17
Sfmt 4703
25009
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
E:\FR\FM\06MYN1.SGM
06MYN1
]]>Agencies
[Federal Register Volume 75, Number 87 (Thursday, May 6, 2010)]
[Notices]
[Pages 25007-25009]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-10595]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61999; File No. SR-NYSEArea-2010-15]
Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving
a Proposed Rule Change Amending Its Schedule of Fees and Charges for
Exchange Services
April 29, 2010.
I. Introduction
On March 5, 2010, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) of the Securities
Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change relating to co-location services and related fees.
The proposed rule change was published for comment in the Federal
Register on March 26, 2010.\3\ The Commission received no comment
letters on the proposal. This order approves the proposed rule change.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 61748 (March 19,
2010), 75 FR 14644 (``Notice'').
---------------------------------------------------------------------------
[[Page 25008]]
II. Description
In its proposal, NYSE Arca described certain co-location services
offered by the Exchange, and proposed to amend its Schedules of Fees
and Charges for Exchange Services for both its equities and options
platforms (the ``Schedules'') in order to identify fees pertaining to
such co-location services.
Co-Location Services
The Exchange offers its Users \4\ the opportunity to rent space on
premises controlled by the Exchange so that they may locate their
electronic servers in close physical proximity to the Exchange's
trading and execution systems. These co-location services are currently
provided at a data center operated by a private third-party vendor
located in New Jersey, and Users may rent space ranging from half
cabinets up to two full cabinets, with different power usage
capabilities ranging from 2 kilowatts up to 8 kilowatts. The services
provided include equipment installation, cross connections, and
miscellaneous post-installation services (including cable installation,
equipment racking and ``remote-hands'' maintenance). In the proposal,
the Exchange represents that the fees assessed for the services and
space generally reflect the amount of space used and power required.
---------------------------------------------------------------------------
\4\ The term ``User'' means any ETP Holder or Sponsored
Participant who is authorized to obtain access to the NYSE Arca
Marketplace pursuant to Rule 7.29, and any OTP Holder, OTP Firm or
Sponsored Participant that is authorized to obtain access to OX
pursuant to Rule 6.2A. See NYSE Arca Equities Rule 1.1(yy) and NYSE
Arca Options Rule 6.1A(a)(19).
---------------------------------------------------------------------------
NYSE Arca further represents that Users that receive co-location
services from NYSE Arca do not receive any means of access to the
Exchange's trading and execution systems that is separate from or
superior to that of Users that do not receive co-location services.
NYSE Arca further represents that 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
Exchange's data center or not. In addition, the Exchange represents
that co-located Users do not receive any market data or data service
product that is not available to all Users. Finally, NYSE Arca notes
that although Users that receive co-location services normally would
expect reduced latencies when sending orders to the Exchange and
receiving market data from the Exchange, NYSE Arca believes that other
than these reduced latencies, there are no material differences in
terms of access to the Exchange between Users that choose to co-locate
and those that do not.
In the proposal, the Exchange explained that it offers co-location
space based on availability, and believes that it has sufficient space
to accommodate current demand on an equitable basis. In addition,
according to the Exchange, any difference among the positions of the
cabinets within the data center does not create any material difference
among co-location Users in terms of access to the Exchange.
Co-Location Fees
The Exchange's proposed co-location fees, which, in part, reflect
power usage priced at $1000 per kilowatt (``kW'') per month, are
reflected below.
Half cabinet (up to 2 kW).................... $2,000 per month.
$2,500 one time
installation fee.
Full cabinet (up to 2.5 kW).................. $2,500 per month.
$5,000 one time
installation fee.
Full cabinet (up to 4 kW).................... $4,000 per month.
$5,000 one time
installation fee.
Full cabinet (up to 8 kW).................... $8,000 per month.
$5,000 one time
installation fee.
Miscellaneous services post installation $200 per hour.
(including cable installation services,
equipment racking services, and on going
remote-hands maintenance).
Fiber cross connections (local and $600 per month.
interfloor).
$950 one time
installation fee.
Less than half cabinet \5\................... $150 per Rack Unit.
III. Discussion and Commission's Findings
After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of the Act and the rules and
regulations thereunder applicable to a national securities exchange.\6\
In particular, the Commission finds that the proposed rule change is
consistent with Section 6(b)(4) of the Act,\7\ which requires that the
rules of a national securities exchange provide for the equitable
allocation of reasonable dues, fees and other charges among its members
and issuers and other persons using its facilities, and with Section
6(b)(5) of the Act,\8\ which requires, among other things, that the
rules of a national securities exchange be designed to promote just and
equitable principles of trade, to remove impediments to and perfect the
mechanism of a free and open market and a national market system and,
in general, to protect investors and the public interest, and not be
designed to permit unfair discrimination between customers, issuers,
brokers, or dealers.
---------------------------------------------------------------------------
\5\ The Exchange represents that it supports existing
arrangements to provide Users with less than a half cabinet, but it
does not offer that option to new co-location Users.
\6\ In approving this proposal, the commission has considered
the proposed rule's impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
\7\ 15 U.S.C. 78f(b)(4).
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Commission believes that the proposed co-location fees are
equitably allocated insofar as they are applied on the same terms to
similarly-situated market participants. In addition, the Commission
believes that the co-location services described in the proposed rule
change are not unfairly discriminatory because: (1) Co-location
services are offered to all Users who request them and pay the
appropriate fees; (2) the Exchange has represented that Users receiving
co-location services do not receive any means of access to the
Exchange's trading and execution systems that is separate from or
superior to that of Users that do not receive co-location services; (3)
the Exchange has represented that there are no material differences in
terms of access to the Exchange between Users that choose to co-locate
and those that do not, other than co-located Users' reduced latencies
due to proximity; and (4) the Exchange has stated that it has
sufficient space to accommodate current demand for co-location services
on an equitable basis.
[[Page 25009]]
IV. Conclusion
It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\9\ that the proposed rule change (SR-NYSEArca-2010-15) be, and
hereby is, approved.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(2).
\10\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-10595 Filed 5-5-10; 8:45 am]
BILLING CODE 8011-01-P
