Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify Fees for Co-Location Services, 80993-80995 [2011-33144]
Download as PDF
Federal Register / Vol. 76, No. 248 / Tuesday, December 27, 2011 / Notices
The Exchange also proposed to
eliminate references to certain fee
waivers that expired July 31, 2011.12
sroberts on DSK5SPTVN1PROD with NOTICES
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.13 In particular, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(4) of the Act,14 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,15 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.
In the Notice, the Exchange
represented that the low latency
network connections would be offered
to market participants in a manner that
is not unfairly discriminatory.16 The
Commission believes that this program
to offer low latency network
connectivity, in the manner described in
the proposal, is consistent with Section
6(b)(5) the Exchange Act insofar as
NASDAQ makes these connectivity
options uniformly available to all
members who voluntarily request them
and pay the associated fees.
Additionally, the Commission notes that
members may choose not to obtain low
latency network connectivity through
the Exchange and instead negotiate
connectivity options separately through
other vendors on site.
Regarding the associated fees, the
Exchange represented that they will be
applied uniformly and will not unfairly
discriminate between similarly situated
12 See Notice, 76 FR at 70201; see also Securities
Exchange Act Release No. 64630 (June 8, 2011), 76
FR 34783 (June 14, 2011) (SR–NASDAQ–2011–074);
and Securities Exchange Act Release No. 64858
(July 12, 2011), 76 FR 42152 (July 18, 2011) (SR–
NASDAQ–2011–094).
13 In approving this proposed rule change, the
Commission notes that it has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
14 15 U.S.C. 78f(b)(4).
15 15 U.S.C. 78f(b)(5).
16 See Notice, 76 FR at 70201.
VerDate Mar<15>2010
22:00 Dec 23, 2011
Jkt 226001
market participants that use such colocation services.17 The Exchange also
represented that the fees are reasonable
because, among other things, they
enable the Exchange to recoup its share
of the costs associated with the
proposed low latency network
telecommunication connections.18 The
Exchange further represented that the
fees and associated costs of the colocation services are comparable to the
costs and fees associated with
comparable services offered by other
trading venues.19 Finally, the Exchange
noted its expectation that this service
will result in a reduction in fees charged
to market participants due to enhanced
competition.20 In light of the Exchange’s
representations, the Commission
believes that the fees associated with the
low latency network connection
services are consistent with Section
6(b)(4) of the Exchange Act.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,21 that the
proposed rule change (SR–NASDAQ–
2011–146) be, and it hereby is,
approved.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.22
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2011–33145 Filed 12–23–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66010; File No. SR–
NASDAQ–2011–160]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Modify Fees
for Co-Location Services
December 20, 2011.
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 December
9, 2011, The NASDAQ Stock Market
LLC (‘‘NASDAQ’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
17 Id.
18 Id.
19 Id.
20 Id.
21 15
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
22 17
PO 00000
Frm 00126
Fmt 4703
Sfmt 4703
80993
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
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 modify
pricing for co-location services. The text
of the proposed rule change is available
at https://nasdaq.cchwallstreet.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.
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
Exchange 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 these
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 aspects 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 is modifying its colocation fee schedule, Exchange Rule
7034(a), to include a fee for an optional
cabinet choice. Currently co-location
customers have the option of obtaining
several cabinet sizes and power
densities. The co-located customer may
obtain a half cabinet, a low density
cabinet, a medium density cabinet, a
medium-high density cabinet and a high
density cabinet.3 Each cabinet may vary
in size and maximum power capacity.
The fees related to the cabinet and
power usage are incremental, with
additional charges being imposed based
on higher levels of cabinet and/or power
usage, the use of non-standard cabinet
sizes or special cabinet cooling
equipment. The co-location customer
may obtain more power by choosing a
combination of lower power density
cabinets. However, the Exchange is
providing a choice of a larger cabinet
(30″W × 48″ D × 96″ H) with higher
power instead of combining several
units for more power (>10kW<=17.3kW)
3 See
E:\FR\FM\27DEN1.SGM
Exchange Rule 7034(a).
27DEN1
80994
Federal Register / Vol. 76, No. 248 / Tuesday, December 27, 2011 / Notices
sroberts on DSK5SPTVN1PROD with NOTICES
with an installation fee of $7,000; and
an ongoing monthly fee of $15,000. The
co-location customer also has the option
of a smaller cabinet (24″ W × 42″ D ×
84″ H) with the same power structure
which would reduce the installation fee
to $3,500 with the same ongoing
monthly fee of $15,000 per month.
Additionally, the Exchange is
proposing to include a fee for a super
high density cabinet kit in Exchange
Rule 7034(d). The optional super high
density cabinet requires additional
customized equipment to adequately
cool the cabinet. The Exchange is
proposing an installation fee of $7,000
for the required customized equipment
kit. All fees are charged to recoup costs
associated with the optional cabinets
while providing increased efficiency;
and to the extent the costs are covered,
provide a profit to the Exchange.
The Exchange is making the super
high density cabinets available as a
convenience to customers, and notes
that use of Exchange cabinets is
completely voluntary.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,4
in general, and with Section 6(b)(4) of
the Act,5 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees and other charges
among members and issuers and other
persons using any facility or system
which the Exchange operates or
controls.
The Exchange will incur costs for the
super high-density cabinets due to the
additional costs incurred for the change
in design of the cabinets to meet the
need of the client, and the costs
incurred for infrastructure to
accommodate the proposed units as the
cabinet design is not of the same
dimension as the current cabinets to
accommodate new server sizes. The
Exchange will also incur additional
costs for personnel needed to monitor
and support the new cabinets. The
Exchange looks to recoup the additional
costs from all market participants that
opt to utilize the proposed cabinets.
Thus, the price charged for the proposed
cabinets is equitable and just in that the
proposed fees that will be charged only
to those that opt for the proposed super
high-density cabinets and will be based
on the costs to develop and maintain the
system, as well as allowing the
Exchange to earn a return on its
investment. Furthermore, because the
proposed super high- density cabinet
4 15
5 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
VerDate Mar<15>2010
22:00 Dec 23, 2011
option is entirely voluntary and
available to all members, the Exchange’s
fees for the purposed cabinet are not
only equitably allocated, but also nondiscriminatory.
Additionally, the Exchange is
providing the additional cabinet option
to its co-located customers to provide
greater efficiency for their trading
operations. In order to receive similar
service under the current structure, the
co-located customer would need to
combine several currently provided
cabinets. While the price may appear
initially similar, the co-located customer
would incur additional monthly
interconnectivity costs for cabling to
connect all the cabinets. Additionally,
having one super high-density cabinet
to meet the space and power
requirements to operate the newly
designed servers reduces the additional
latency that would be experienced by
combining several cabinets to achieve a
similar result. The new design of the
super high-density cabinet allows the fit
of more equipment in one unit before
reaching power capacity. For all the
above reasons, the proposed super highdensity cabinets results in a more
efficient operation overall for the colocated customer.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act, as amended.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.6 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 shall
institute proceedings to determine
6 15
Jkt 226001
PO 00000
U.S.C. 78s(b)(3)(a)(ii).
Frm 00127
Fmt 4703
Sfmt 4703
whether the proposed rule 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, as amended, 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–NASDAQ–2011–160 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–NASDAQ–2011–160. 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, 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 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–
NASDAQ–2011–160, and should be
submitted on or before January 17, 2012.
E:\FR\FM\27DEN1.SGM
27DEN1
Federal Register / Vol. 76, No. 248 / Tuesday, December 27, 2011 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2011–33144 Filed 12–23–11; 8:45 am]
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66016; File No. SR–Phlx–
2011–164]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Modify the
Fee Schedule for Co-Location Services
December 20, 2011.
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 December
9, 2011, NASDAQ OMX PHLX (‘‘Phlx’’
or ‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed Fee
Schedule 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 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 modify
pricing for co-location services. The text
of the proposed rule change is available
at https://www.nasdaqtrader.com/
micro.aspx?id=PHLXRulefilingshttps://
nasdaqbx.cchwallstreet.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.
sroberts on DSK5SPTVN1PROD with 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
Exchange 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 these
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
7 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1. Purpose
The Exchange is modifying its Fee
Schedule regarding co-location fees,
Phlx Fee Schedule, Section X(a), to
include a fee for an optional cabinet
choice. Currently co-location customers
have the option of obtaining several
cabinet sizes and power densities. The
co-located customer may obtain a half
cabinet, a low density cabinet, a
medium density cabinet, a medium-high
density cabinet and a high density
cabinet. Each cabinet may vary in size
and maximum power capacity.3 The
fees related to the cabinet and power
usage are incremental, with additional
charges being imposed based on higher
levels of cabinet and/or power usage,
the use of non-standard cabinet sizes or
special cabinet cooling equipment. The
co-location customer may obtain more
power by choosing a combination of
lower power density cabinets. However,
the Exchange is providing a choice of a
larger cabinet (30″W x 48″ D x 96″ H)
with higher power instead of combining
several units for more power (>10kW
<=17.3kW) with an installation fee of
$7,000; and an ongoing monthly fee of
$15,000. The co-location customer also
has the option of a smaller cabinet (24″
W x 42″ D x 84″ H) with the same power
structure which would reduce the
installation fee to $3,500 with the same
ongoing monthly fee of $15,000 per
month.
Additionally, the Exchange is
proposing to include a fee for a super
high density cabinet kit in the Phlx Fee
Schedule, Section X(c). The optional
super high density cabinet requires
additional customized equipment to
adequately cool the cabinet. The
Exchange is proposing an installation
fee of $7,000 for the required
customized equipment kit. All fees are
charged to recoup costs associated with
the optional cabinets while providing
increased efficiency; and to the extent
the costs are covered, provide a profit to
the Exchange.
The Exchange is making the super
high density cabinets available as a
convenience to customers, and notes
that use of Exchange cabinets is
completely voluntary.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
1 15
VerDate Mar<15>2010
22:00 Dec 23, 2011
the provisions of Section 6 of the Act,4
in general, and with Section 6(b)(4) of
the Act,5 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees and other charges
among members and issuers and other
persons using any facility or system
which the Exchange operates or
controls.
The Exchange will incur costs for the
super high-density cabinets due to the
additional costs incurred for the change
in design of the cabinets to meet the
need of the client, and the costs
incurred for infrastructure to
accommodate the proposed units as the
cabinet design is not of the same
dimension as the current cabinets to
accommodate new server sizes. The
Exchange will also incur additional
costs for personnel needed to monitor
and support the new cabinets. The
Exchange looks to recoup the additional
costs from all market participants that
opt to utilize the proposed cabinets.
Thus, the price charged for the proposed
cabinets is equitable and just in that the
proposed fees that will be charged only
to those that opt for the proposed super
high-density cabinets and will be based
on the costs to develop and maintain the
system, as well as allowing the
Exchange to earn a return on its
investment. Furthermore, because the
proposed super high-density cabinet
option is entirely voluntary and
available to all members, the Exchange’s
fees for the purposed cabinet are not
only equitably allocated, but also nondiscriminatory.
Additionally, the Exchange is
providing the additional cabinet option
to its co-located customers to provide
greater efficiency for their trading
operations. In order to receive similar
service under the current structure, the
co-located customer would need to
combine several currently provided
cabinets. While the price may appear
initially similar, the co-located customer
would incur additional monthly
interconnectivity costs for cabling to
connect all the cabinets. Additionally,
having one super high-density cabinet
to meet the space and power
requirements to operate the newly
designed servers reduces the additional
latency that would be experienced by
combining several cabinets to achieve a
similar result. The new design of the
super high-density cabinet allows the fit
of more equipment in one unit before
reaching power capacity. For all the
above reasons, the proposed super highdensity cabinets results in a more
4 15
3 See
Jkt 226001
PO 00000
Exchange Fee Schedule, Section X(a).
Frm 00128
Fmt 4703
Sfmt 4703
80995
5 15
E:\FR\FM\27DEN1.SGM
U.S.C. 78f.
U.S.C. 78f(b)(4).
27DEN1
Agencies
[Federal Register Volume 76, Number 248 (Tuesday, December 27, 2011)]
[Notices]
[Pages 80993-80995]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-33144]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-66010; File No. SR-NASDAQ-2011-160]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Modify Fees for Co-Location Services
December 20, 2011.
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 December 9, 2011, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange'') filed with the Securities and Exchange Commission
(``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
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 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 modify pricing for co-location services.
The text of the proposed rule change is available at https://nasdaq.cchwallstreet.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.
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 Exchange 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 these 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 aspects 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 is modifying its co-location fee schedule, Exchange
Rule 7034(a), to include a fee for an optional cabinet choice.
Currently co-location customers have the option of obtaining several
cabinet sizes and power densities. The co-located customer may obtain a
half cabinet, a low density cabinet, a medium density cabinet, a
medium-high density cabinet and a high density cabinet.\3\ Each cabinet
may vary in size and maximum power capacity. The fees related to the
cabinet and power usage are incremental, with additional charges being
imposed based on higher levels of cabinet and/or power usage, the use
of non-standard cabinet sizes or special cabinet cooling equipment. The
co-location customer may obtain more power by choosing a combination of
lower power density cabinets. However, the Exchange is providing a
choice of a larger cabinet (30''W x 48'' D x 96'' H) with higher power
instead of combining several units for more power (>10kW<=17.3kW)
[[Page 80994]]
with an installation fee of $7,000; and an ongoing monthly fee of
$15,000. The co-location customer also has the option of a smaller
cabinet (24'' W x 42'' D x 84'' H) with the same power structure which
would reduce the installation fee to $3,500 with the same ongoing
monthly fee of $15,000 per month.
---------------------------------------------------------------------------
\3\ See Exchange Rule 7034(a).
---------------------------------------------------------------------------
Additionally, the Exchange is proposing to include a fee for a
super high density cabinet kit in Exchange Rule 7034(d). The optional
super high density cabinet requires additional customized equipment to
adequately cool the cabinet. The Exchange is proposing an installation
fee of $7,000 for the required customized equipment kit. All fees are
charged to recoup costs associated with the optional cabinets while
providing increased efficiency; and to the extent the costs are
covered, provide a profit to the Exchange.
The Exchange is making the super high density cabinets available as
a convenience to customers, and notes that use of Exchange cabinets is
completely voluntary.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\4\ in general, and with
Section 6(b)(4) of the Act,\5\ in particular, in that it provides for
the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility or
system which the Exchange operates or controls.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f.
\5\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
The Exchange will incur costs for the super high-density cabinets
due to the additional costs incurred for the change in design of the
cabinets to meet the need of the client, and the costs incurred for
infrastructure to accommodate the proposed units as the cabinet design
is not of the same dimension as the current cabinets to accommodate new
server sizes. The Exchange will also incur additional costs for
personnel needed to monitor and support the new cabinets. The Exchange
looks to recoup the additional costs from all market participants that
opt to utilize the proposed cabinets. Thus, the price charged for the
proposed cabinets is equitable and just in that the proposed fees that
will be charged only to those that opt for the proposed super high-
density cabinets and will be based on the costs to develop and maintain
the system, as well as allowing the Exchange to earn a return on its
investment. Furthermore, because the proposed super high- density
cabinet option is entirely voluntary and available to all members, the
Exchange's fees for the purposed cabinet are not only equitably
allocated, but also non-discriminatory.
Additionally, the Exchange is providing the additional cabinet
option to its co-located customers to provide greater efficiency for
their trading operations. In order to receive similar service under the
current structure, the co-located customer would need to combine
several currently provided cabinets. While the price may appear
initially similar, the co-located customer would incur additional
monthly interconnectivity costs for cabling to connect all the
cabinets. Additionally, having one super high-density cabinet to meet
the space and power requirements to operate the newly designed servers
reduces the additional latency that would be experienced by combining
several cabinets to achieve a similar result. The new design of the
super high-density cabinet allows the fit of more equipment in one unit
before reaching power capacity. For all the above reasons, the proposed
super high-density cabinets results in a more efficient operation
overall for the co-located customer.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act, as amended.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\6\ 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 shall
institute proceedings to determine whether the proposed rule should be
approved or disapproved.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(a)(ii).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change, as amended, 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-NASDAQ-2011-160 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-NASDAQ-2011-160. 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, 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 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-NASDAQ-2011-160, and should
be submitted on or before January 17, 2012.
[[Page 80995]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
Kevin M. O'Neill,
Deputy Secretary.
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\7\ 17 CFR 200.30-3(a)(12).
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[FR Doc. 2011-33144 Filed 12-23-11; 8:45 am]
BILLING CODE 8011-01-P