Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing of Proposed Rule Change Expanding the Scope of Potential “Users” of Its Co-Location Services To Include Any Market Participant That Requests To Receive Co-Location Services Directly From the Exchange and Amending Its Price List To Establish a Fee for Users That Host Their Customers at the Exchange's Data Center, 67507-67509 [2011-28205]
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Federal Register / Vol. 76, No. 211 / Tuesday, November 1, 2011 / Notices
general, to protect investors and the
public interest.
The Exchange’s proposal to expand
the scope of potential Users of its colocation services to include any market
participant that requests to receive colocation services directly from the
Exchange would increase access to the
Exchange’s co-location facilities by
allowing additional types of Users to
use those facilities. In this regard, colocation services would be offered by
the Exchange to these additional types
of Users, as is the case today for existing
Users, in a manner that would not
unfairly discriminate between or among
market participants that are otherwise
capable of satisfying any applicable colocation fees, requirements, terms and
conditions established from time to time
by the Exchange.
Additionally, the proposed hosting
fee would be applied uniformly for
comparable services provided by the
Exchange and would not unfairly
discriminate between similarly situated
Users of co-location services. In this
regard, the proposed hosting capability
and related fee would be applicable to
all interested Users that provide hosting
services. In addition, the Exchange
believes that the proposed hosting fee is
reasonable in that it is designed to
defray applicable expenses incurred or
resources expended by the Exchange
related to such services, including, but
not limited to, configuration of Users’
connections to their Hosted User
customers and subsequent monitoring
thereof by Exchange staff.
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.
srobinson on DSK4SPTVN1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 45 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
VerDate Mar<15>2010
17:04 Oct 31, 2011
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67507
should be submitted on or before
November 22, 2011.
organization consents, the Commission
will:
A. By order approve or disapprove
such proposed rule change, or
B. Institute proceedings to determine
whether the proposed rule change
should be disapproved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Kevin M. O’Neill,
Deputy Secretary.
IV. Solicitation of Comments
[FR Doc. 2011–28203 Filed 10–31–11; 8:45 am]
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:
BILLING CODE 8011–01–P
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rulecomments@sec.gov. Please include File
Number SR–NYSEAMEX–2011–82 on
the subject line.
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
Number SR–NYSEAMEX–2011–82. 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
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 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. 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–NYSEAMEX–2011–82, and
PO 00000
Frm 00106
Fmt 4703
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65629; File No. SR–NYSE–
2011–53]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing of Proposed Rule Change
Expanding the Scope of Potential
‘‘Users’’ of Its Co-Location Services To
Include Any Market Participant That
Requests To Receive Co-Location
Services Directly From the Exchange
and Amending Its Price List To
Establish a Fee for Users That Host
Their Customers at the Exchange’s
Data Center
October 26, 2011.
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 October
14, 2011, New York Stock Exchange
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) 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.
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
The Exchange proposes to expand the
scope of potential ‘‘Users’’ of its colocation services to include any market
participant that requests to receive colocation services directly from the
Exchange. In addition, the Exchange
proposes to amend its Price List to
establish a fee for Users that host their
customers at the Exchange’s data center.
The text of the proposed rule change is
available at the Exchange, the
Commission’s Public Reference Room,
and https://www.nyse.com.
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
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67508
Federal Register / Vol. 76, No. 211 / Tuesday, November 1, 2011 / Notices
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
Statutory Basis for, the Proposed Rule
Change
srobinson on DSK4SPTVN1PROD with NOTICES
1. Purpose
The Exchange operates a data center
in Mahwah, New Jersey from which it
provides co-location services to Users.4
For purposes of its co-location services,
the term ‘‘User’’ currently includes
member organizations, as that term is
defined in NYSE Rule 2(b), and
Sponsored Participants, as that term is
defined in NYSE Rule 123B.30(a)(ii)(B).5
The Exchange proposes to expand the
scope of potential Users of its colocation services to include any market
participant that requests to receive colocation services directly from the
Exchange.6 Under the proposed rule
change, Users could therefore include
member organizations, Sponsored
Participants, non-member brokerdealers and vendors. The Exchange
anticipates that the potential additional
Users would provide, for example,
hosting, service bureau, technical
support, risk management, order routing
and market data delivery services to
their customers while the User is colocated in the Exchange’s data center.7
As is the case with all Exchange colocation arrangements, neither a User,
nor any of its customers, would be
permitted to submit orders directly to
the Exchange unless such User or
customer is a member organization or a
Sponsored Participant. All existing colocation terms, conditions, facilities,
4 See Securities Exchange Act Release No. 62960
(September 21, 2010), 75 FR 59310 (September 27,
2010) (SR–NYSE–2010–56).
5 Id. at note 7.
6 As is the case today, prospective Users must
agree to, and be capable of satisfying, any
applicable co-location fees, requirements, terms and
conditions established from time to time by the
Exchange.
7 The Exchange anticipates that a User’s
customer(s) could include, under certain
circumstances, other Users of the Exchange’s colocation services.
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17:04 Oct 31, 2011
Jkt 226001
services, and applicable fees would
apply to these potential new Users.
The Exchange also proposes to amend
its Price List to establish a fee applicable
to Users that provide hosting services to
their customers (‘‘Hosted Users’’) at the
Exchange’s data center. ‘‘Hosting’’
would be a service offered by a User to
a Hosted User and could include, for
example, a User supporting its Hosted
User’s technology, whether hardware or
software, through the User’s co-location
space. Specifically, the Exchange
proposes to charge each User a fee of
$500.00 per month for each Hosted User
that the User hosts in the Exchange’s
data center. Users would independently
set fees for their Hosted Users and the
Exchange would not receive a share of
any such fees.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Securities Exchange
Act of 1934 (the ‘‘Act’’),8 in general, and
furthers the objectives of Section
6(b)(4) 9 and 6(b)(5) of the Act,10 in
particular, because it provides for the
equitable allocation of reasonable dues,
fees, and other charges among its
members and issuers and other persons
using its facilities and is designed to
prevent fraudulent and manipulative
acts and practices, 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.
The Exchange’s proposal to expand
the scope of potential Users of its colocation services to include any market
participant that requests to receive colocation services directly from the
Exchange would increase access to the
Exchange’s co-location facilities by
allowing additional types of Users to
use those facilities. In this regard, colocation services would be offered by
the Exchange to these additional types
of Users, as is the case today for existing
Users, in a manner that would not
unfairly discriminate between or among
market participants that are otherwise
capable of satisfying any applicable colocation fees, requirements, terms and
conditions established from time to time
by the Exchange.
Additionally, the proposed hosting
fee would be applied uniformly for
comparable services provided by the
Exchange and would not unfairly
discriminate between similarly situated
8 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
10 15 U.S.C. 78f(b)(5).
9 15
PO 00000
Frm 00107
Fmt 4703
Sfmt 4703
Users of co-location services. In this
regard, the proposed hosting capability
and related fee would be applicable to
all interested Users that provide hosting
services. In addition, the Exchange
believes that the proposed hosting fee is
reasonable in that it is designed to
defray applicable expenses incurred or
resources expended by the Exchange
related to such services, including, but
not limited to, configuration of Users’
connections to their Hosted User
customers and subsequent monitoring
thereof by Exchange staff.
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
Within 45 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 or disapprove
such 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:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rulecomments@sec.gov. Please include File
Number SR–NYSE–2011–53 on the
subject line.
E:\FR\FM\01NON1.SGM
01NON1
Federal Register / Vol. 76, No. 211 / Tuesday, November 1, 2011 / Notices
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
Number SR–NYSE–2011–53. 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
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 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. 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–NYSE–2011–53, and
should be submitted on or before
November 22, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2011–28205 Filed 10–31–11; 8:45 am]
srobinson on DSK4SPTVN1PROD with NOTICES
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65633; File No. SR–CHX–
2011–29]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Order
Approving a Proposed Rule Change To
Change the Status of ExchangeRegistered Institutional Broker Firms
October 26, 2011.
I. Introduction
On September 14, 2011, the Chicago
Stock Exchange, Inc. (‘‘CHX’’ 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 to
change the status of Exchange-registered
Institutional Broker firms (‘‘Institutional
Brokers’’). The proposed rule change
was published for comment in the
Federal Register on September 26,
2011.3 The Commission received no
comment letters on the proposal. This
order approves the proposed rule
change.
II. Description of the Proposal
Institutional Brokers are an elective
sub-category of Exchange Participants
who are subject to the obligations of
Article 17 of the CHX rules. Typically,
Institutional Brokers provide manual
order handling and execution services
for other broker-dealers or institutional
clients. Institutional Brokers are the
successors to the floor brokers that
operated within the Exchange’s
previous floor-based, auction trading
model. That model was eliminated as
part of the Exchange’s transition to its
New Trading Model, which features an
electronic limit order matching system
as its core trading facility.4 In approving
the Exchange’s New Trading Model, the
Commission stated:
Institutional brokers would be deemed to
be participants operating on the Exchange,
although they would not effect transactions
from a physical trading floor (since the
Exchange will no longer have a physical
trading floor) and could trade from any
location. A customer order would be deemed
to be on the Exchange when received by an
institutional broker, but would not have
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Securities Exchange Act Release No. 65354
(September 19, 2011), 76 FR 59476 (‘‘Notice’’).
2 17
11 17
4 The Exchange replaced its traditional auction
marketplace with its New Trading Model beginning
in 2006. See Securities Exchange Act Release No.
54550 (September 29, 2006), 71 FR 59563 (October
10, 2006) (SR–CHX–2006–05).
CFR 200.30–3(a)(12).
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17:04 Oct 31, 2011
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PO 00000
Frm 00108
Fmt 4703
Sfmt 4703
67509
priority in the Matching System until it is
entered into the system.5
Due to certain changes in the function
of Institutional Brokers,6 CHX proposes
to treat Institutional Brokers as no
longer always operating on the
Exchange. Pursuant to CHX’s proposal,
an order that is sent to an Institutional
Broker shall not be deemed to be ‘‘on
the Exchange’’ unless and until the
Institutional Broker enters it into the
Exchange’s Matching System.7
Correspondingly, the Exchange
proposes to delete certain references to
Institutional Brokers and/or their
activity as being ‘‘on the Exchange’’ in
Article 11, Rule 3(e) and in Article 17,
Rule 3(a) and in Interpretation and
Policy .01 thereto.
The Exchange also proposes to delete
Article 20, Rule 7 (Clearing the
Matching System), which requires
Institutional Brokers to attempt to
execute trades on the Exchange before
routing the order to another destination,
except if the Institutional Broker is
trading for its own account or its
customer specifically requests
otherwise. Currently, Institutional
Brokers are not permitted to execute
transactions directly in the over-thecounter (‘‘OTC’’) marketplace because,
as discussed above, orders directed to
them are deemed on the Exchange.8 In
light of the proposed elimination of the
on-Exchange designation of all
Institutional Broker orders, CHX also
proposes to modify Article 17, Rule 1 to
permit Institutional Brokers to effect
transactions both on the Exchange and
5 Id.
71 FR at 59567.
fairly recently, CHX permitted
Institutional Brokers to execute trades outside the
Exchange’s core trading facility, the Matching
System, and those trades were still considered to be
on the Exchange. Utilizing a functionality known as
the Validated Cross, Institutional Brokers executed
cross transactions based upon the state of the
national market and orders residing in the Matching
System at the time the parties agreed to the
execution, rather than as of the entry of all essential
terms into the electronic systems used by
Institutional Brokers to handle and execute such
transactions. See, e.g., CHX Market Regulation
Department Information Memorandum MR–07–9
(December 6, 2007). In December 2010, the
Exchange eliminated the Validated Cross
functionality and ability of Institutional Brokers to
execute transactions on the CHX otherwise than
through the Matching System. See Securities
Exchange Act Release No. 63564 (December 16,
2010), 75 FR 80870 (December 23, 2010) (SR–CHX–
2010–25). Given this change, the Exchange states
there is no longer any meaningful reason to treat
Institutional Brokers as operating on the Exchange
and the proposed Interpretation and Policy .04
reflects that determination. See Notice, 76 FR at
59477.
7 See New Interpretation and Policy .04 to Rule
3 of Article 17.
8 See CHX Market Regulation Department
Information Memorandum MR–11–09 (July 14,
2011), available on the Exchange’s public Web site,
https://www.chx.com.
6 Until
E:\FR\FM\01NON1.SGM
01NON1
]]>Agencies
[Federal Register Volume 76, Number 211 (Tuesday, November 1, 2011)]
[Notices]
[Pages 67507-67509]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-28205]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-65629; File No. SR-NYSE-2011-53]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change Expanding the Scope of
Potential ``Users'' of Its Co-Location Services To Include Any Market
Participant That Requests To Receive Co-Location Services Directly From
the Exchange and Amending Its Price List To Establish a Fee for Users
That Host Their Customers at the Exchange's Data Center
October 26, 2011.
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 October 14, 2011, New York Stock Exchange LLC (``NYSE''
or the ``Exchange'') 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 the
Substance of the Proposed Rule Change
The Exchange proposes to expand the scope of potential ``Users'' of
its co-location services to include any market participant that
requests to receive co-location services directly from the Exchange. In
addition, the Exchange proposes to amend its Price List to establish a
fee for Users that host their customers at the Exchange's data center.
The text of the proposed rule change is available at the Exchange, the
Commission's Public Reference Room, and https://www.nyse.com.
[[Page 67508]]
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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange operates a data center in Mahwah, New Jersey from
which it provides co-location services to Users.\4\ For purposes of its
co-location services, the term ``User'' currently includes member
organizations, as that term is defined in NYSE Rule 2(b), and Sponsored
Participants, as that term is defined in NYSE Rule
123B.30(a)(ii)(B).\5\ The Exchange proposes to expand the scope of
potential Users of its co-location services to include any market
participant that requests to receive co-location services directly from
the Exchange.\6\ Under the proposed rule change, Users could therefore
include member organizations, Sponsored Participants, non-member
broker-dealers and vendors. The Exchange anticipates that the potential
additional Users would provide, for example, hosting, service bureau,
technical support, risk management, order routing and market data
delivery services to their customers while the User is co-located in
the Exchange's data center.\7\ As is the case with all Exchange co-
location arrangements, neither a User, nor any of its customers, would
be permitted to submit orders directly to the Exchange unless such User
or customer is a member organization or a Sponsored Participant. All
existing co-location terms, conditions, facilities, services, and
applicable fees would apply to these potential new Users.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 62960 (September 21,
2010), 75 FR 59310 (September 27, 2010) (SR-NYSE-2010-56).
\5\ Id. at note 7.
\6\ As is the case today, prospective Users must agree to, and
be capable of satisfying, any applicable co-location fees,
requirements, terms and conditions established from time to time by
the Exchange.
\7\ The Exchange anticipates that a User's customer(s) could
include, under certain circumstances, other Users of the Exchange's
co-location services.
---------------------------------------------------------------------------
The Exchange also proposes to amend its Price List to establish a
fee applicable to Users that provide hosting services to their
customers (``Hosted Users'') at the Exchange's data center. ``Hosting''
would be a service offered by a User to a Hosted User and could
include, for example, a User supporting its Hosted User's technology,
whether hardware or software, through the User's co-location space.
Specifically, the Exchange proposes to charge each User a fee of
$500.00 per month for each Hosted User that the User hosts in the
Exchange's data center. Users would independently set fees for their
Hosted Users and the Exchange would not receive a share of any such
fees.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Securities Exchange Act of 1934 (the
``Act''),\8\ in general, and furthers the objectives of Section 6(b)(4)
\9\ and 6(b)(5) of the Act,\10\ in particular, because it provides for
the equitable allocation of reasonable dues, fees, and other charges
among its members and issuers and other persons using its facilities
and is designed to prevent fraudulent and manipulative acts and
practices, 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4).
\10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange's proposal to expand the scope of potential Users of
its co-location services to include any market participant that
requests to receive co-location services directly from the Exchange
would increase access to the Exchange's co-location facilities by
allowing additional types of Users to use those facilities. In this
regard, co-location services would be offered by the Exchange to these
additional types of Users, as is the case today for existing Users, in
a manner that would 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.
Additionally, the proposed hosting fee would be applied uniformly
for comparable services provided by the Exchange and would not unfairly
discriminate between similarly situated Users of co-location services.
In this regard, the proposed hosting capability and related fee would
be applicable to all interested Users that provide hosting services. In
addition, the Exchange believes that the proposed hosting fee is
reasonable in that it is designed to defray applicable expenses
incurred or resources expended by the Exchange related to such
services, including, but not limited to, configuration of Users'
connections to their Hosted User customers and subsequent monitoring
thereof by Exchange staff.
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
Within 45 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 or disapprove such 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:
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-NYSE-2011-53 on the subject line.
[[Page 67509]]
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 Number SR-NYSE-2011-53. 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 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 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. 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-NYSE-2011-53, and should be submitted on or before November 22,
2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-28205 Filed 10-31-11; 8:45 am]
BILLING CODE 8011-01-P
