Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending the Price List To Add Certain Charges for Hosting Equipment To Support Internet Connections for Member Organizations Operating on the Floor of the Exchange Starting January 1, 2015, 38618-38619 [2014-15816]
Download as PDF
38618
Federal Register / Vol. 79, No. 130 / Tuesday, July 8, 2014 / Notices
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
10:00 a.m. and 3:00 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–
NYSEMKT–2014–53 and should be
submitted on or before July 29, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014–15815 Filed 7–7–14; 8:45 am]
BILLING CODE 8011–01–P
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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
Price List to add certain charges for
hosting equipment to support Internet
connections for member organizations
operating on the Floor of the Exchange.
The text of the proposed rule change is
available on the Exchange’s Web site at
www.nyse.com, at the principal office of
the Exchange, and at the Commission’s
Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of those statements may be examined at
the places specified in Item IV below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
of the most significant parts of such
statements.
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. 34–72511; File No. SR–NYSE–
2014–30]
1. Purpose
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Amending the
Price List To Add Certain Charges for
Hosting Equipment To Support
Internet Connections for Member
Organizations Operating on the Floor
of the Exchange Starting January 1,
2015
tkelley on DSK3SPTVN1PROD with NOTICES
July 1, 2014.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that, on June 24,
2014, New York Stock Exchange LLC
(‘‘NYSE’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
11 17
CFR 200.30–3(a)(12).
U.S.C.78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Mar<15>2010
16:48 Jul 07, 2014
Jkt 232001
The Exchange proposes to amend the
Price List to add certain charges for
hosting equipment to support Internet
connections for member organizations
operating on the Floor of the Exchange.
Currently, a member organization that
operates on the Floor must arrange for
its own access to an Internet service
provider (‘‘ISP’’). To provide the service,
an ISP must place certain equipment on
the Exchange’s premises at 11 Wall
Street. Currently there is no separate
charge related to the Exchange’s hosting
of such equipment. The Exchange does
charge fees for installing and removing
data jacks and lines, and member
organizations are responsible for paying
the ISP’s fees.
The Exchange believes that these
hosting arrangements are not an
efficient use of its space or an efficient
or robust way to provide Internet service
to member organizations operating on
the Floor. As such, the Exchange
PO 00000
Frm 00137
Fmt 4703
Sfmt 4703
proposes to provide member
organizations operating on the Floor
with connections to ISPs at no charge
via the Exchange’s Secure Financial
Transaction Infrastructure (‘‘SFTI’’). For
such member organizations that choose
to use SFTI to connect to their ISP, it
will no longer be necessary to host
separate ISP equipment at 11 Wall
Street and such equipment can be
removed. Using SFTI to connect to ISPs
also would help avoid the consequences
of a service disruption at a single carrier
or access point. For example, for a
period beginning in October 2013, the
Exchange had to temporarily suspend
certain rules restricting the use of
personal portable phone devices by
Floor brokers on the Trading Floor
because the third-party carrier that
provided service for the Exchangeprovided cell phones experienced an
issue that caused a service outage.3 The
proposed rule change would help to
avoid such an issue with respect to
Internet services because SFTI can
connect to multiple ISPs at multiple
access points, providing redundancy
and resilience in service and improving
member organizations’ and the
Exchange’s disaster recovery
capabilities.
The Exchange will make the
connections to ISPs available via SFTI
immediately and provide member
organizations with a transition period
until December 31, 2014 to have their
ISP equipment located at 11 Wall Street
removed. If a member organization has
not done so by that time, then the
Exchange will begin charging $1,000 per
month per member organization per
rack for continuing to host the member
organization’s ISP equipment at 11 Wall
Street, or $600 per month for a half rack
or $400 per month for a quarter rack.4
The Exchange believes that the
proposed charges will incent all
member organizations to transition over
to the free, more robust service while
leaving them the option of maintaining
their current service arrangement if they
so choose. The Exchange will continue
to charge fees for installing and
removing data jacks and lines as set
forth in the current Price List, and
member organizations will remain
3 See Securities Exchange Act Release No. 70697
(October 16, 2013), 78 FR 62825 (October 22, 2013)
(SR–NYSE–2013–69).
4 All NYSE members [sic] organizations are NYSE
MKT LLC (‘‘NYSE MKT’’) member organizations.
See Supplementary Material .10 to Rule 2. NYSE
MKT has submitted substantially the same
proposed fee change. See SR–NYSEMKT–2014–53.
However, because the ISP connection will support
a member organization’s operations for both SROs,
the fee will only be assessed once.
E:\FR\FM\08JYN1.SGM
08JYN1
Federal Register / Vol. 79, No. 130 / Tuesday, July 8, 2014 / Notices
premises and help to prevent Internet
service disruptions from affecting the
Floor, thereby improving disaster
preparedness.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,5 in general, and
furthers the objectives of Sections
6(b)(4) and (5) of the Act,6 in particular,
because it provides for the equitable
allocation of reasonable dues, fees, and
other charges among its members,
issuers and other persons using its
facilities and does not unfairly
discriminate between customers,
issuers, brokers, or dealers.
The Exchange believes that the
proposed rule change is reasonable
because it will result in a more efficient
use in the Exchange’s premises and
increase the redundancy and resilience
in Internet service to member
organizations operating on the Floor,
thereby improving those member
organizations’ and the Exchange’s
disaster recovery capabilities. The
proposed change is equitable and not
unfairly discriminatory because there
would continue to be an option, as there
is today, for all member organizations
operating on the Floor to obtain a free
connection to an ISP. The proposed fees
would only apply if, after the transition
period, the member organization elected
to have a separate ISP connection that
would require separate equipment
hosting on the Exchange’s premises at
11 Wall Street.
Finally, the Exchange believes that it
is subject to significant competitive
forces, as described below in the
Exchange’s statement regarding the
burden on competition.
For these reasons, the Exchange
believes that the proposal is consistent
with the Act.
tkelley on DSK3SPTVN1PROD with NOTICES
responsible for paying any fees charged
by the ISP.
The proposed change is not otherwise
intended to address any other issues,
and the Exchange is not aware of any
problems member organizations would
have in complying with the proposed
change.
No written comments were solicited
or received with respect to the proposed
rule change.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,7 the Exchange believes that the
proposed rule change would not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change is not intended to
address any competitive issues among
exchanges or broker-dealers but rather
to more efficiently use the Exchange’s
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
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) 8 of the Act and
subparagraph (f)(2) of Rule 19b–4 9
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 10 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSE–2014–30 on the subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street N.E.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSE–2014–30. This file
number should be included on the
subject line if email is used. To help the
5 15
8 15
6 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4) and (5).
7 15 U.S.C. 78f(b)(8).
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 N.E.,
Washington, DC 20549, on official
business days between the hours of
10:00 a.m. and 3:00 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–NYSE–
2014–30 and should be submitted on or
before July 29, 2014.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014–15816 Filed 7–7–14; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–72512; File Nos. SR–NYSE–
2013–72; SR–NYSEMKT–2013–91]
Self-Regulatory Organizations; New
York Stock Exchange LLC; NYSE MKT
LLC; Notice of Withdrawal of Proposed
Rule Changes To Establish an
Institutional Liquidity Program on a
One-Year Pilot Basis
July 1, 2014.
On November 7, 2013, New York
Stock Exchange LLC (‘‘NYSE’’) and
NYSE MKT LLC (‘‘NYSE MKT’’ and
together with NYSE, the ‘‘Exchanges’’)
each filed with the Securities and
Exchange Commission (‘‘Commission’’)
pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
9 17
VerDate Mar<15>2010
16:48 Jul 07, 2014
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
10 15 U.S.C. 78s(b)(2)(B).
Jkt 232001
PO 00000
Frm 00138
Fmt 4703
Sfmt 4703
38619
11 17
E:\FR\FM\08JYN1.SGM
CFR 200.30–3(a)(12).
08JYN1
Agencies
[Federal Register Volume 79, Number 130 (Tuesday, July 8, 2014)]
[Notices]
[Pages 38618-38619]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-15816]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-72511; File No. SR-NYSE-2014-30]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Amending the Price List To Add Certain Charges for Hosting Equipment To
Support Internet Connections for Member Organizations Operating on the
Floor of the Exchange Starting January 1, 2015
July 1, 2014.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that, on June 24, 2014, New York Stock Exchange LLC (``NYSE'' 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 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\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the Price List to add certain
charges for hosting equipment to support Internet connections for
member organizations operating on the Floor of the Exchange. The text
of the proposed rule change is available on the Exchange's Web site at
www.nyse.com, at the principal office of the Exchange, and at the
Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of those statements may be examined at
the places specified in Item IV below. The Exchange has prepared
summaries, set forth in sections A, B, and C below, of the most
significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend the Price List to add certain
charges for hosting equipment to support Internet connections for
member organizations operating on the Floor of the Exchange.
Currently, a member organization that operates on the Floor must
arrange for its own access to an Internet service provider (``ISP'').
To provide the service, an ISP must place certain equipment on the
Exchange's premises at 11 Wall Street. Currently there is no separate
charge related to the Exchange's hosting of such equipment. The
Exchange does charge fees for installing and removing data jacks and
lines, and member organizations are responsible for paying the ISP's
fees.
The Exchange believes that these hosting arrangements are not an
efficient use of its space or an efficient or robust way to provide
Internet service to member organizations operating on the Floor. As
such, the Exchange proposes to provide member organizations operating
on the Floor with connections to ISPs at no charge via the Exchange's
Secure Financial Transaction Infrastructure (``SFTI''). For such member
organizations that choose to use SFTI to connect to their ISP, it will
no longer be necessary to host separate ISP equipment at 11 Wall Street
and such equipment can be removed. Using SFTI to connect to ISPs also
would help avoid the consequences of a service disruption at a single
carrier or access point. For example, for a period beginning in October
2013, the Exchange had to temporarily suspend certain rules restricting
the use of personal portable phone devices by Floor brokers on the
Trading Floor because the third-party carrier that provided service for
the Exchange-provided cell phones experienced an issue that caused a
service outage.\3\ The proposed rule change would help to avoid such an
issue with respect to Internet services because SFTI can connect to
multiple ISPs at multiple access points, providing redundancy and
resilience in service and improving member organizations' and the
Exchange's disaster recovery capabilities.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 70697 (October 16,
2013), 78 FR 62825 (October 22, 2013) (SR-NYSE-2013-69).
---------------------------------------------------------------------------
The Exchange will make the connections to ISPs available via SFTI
immediately and provide member organizations with a transition period
until December 31, 2014 to have their ISP equipment located at 11 Wall
Street removed. If a member organization has not done so by that time,
then the Exchange will begin charging $1,000 per month per member
organization per rack for continuing to host the member organization's
ISP equipment at 11 Wall Street, or $600 per month for a half rack or
$400 per month for a quarter rack.\4\ The Exchange believes that the
proposed charges will incent all member organizations to transition
over to the free, more robust service while leaving them the option of
maintaining their current service arrangement if they so choose. The
Exchange will continue to charge fees for installing and removing data
jacks and lines as set forth in the current Price List, and member
organizations will remain
[[Page 38619]]
responsible for paying any fees charged by the ISP.
---------------------------------------------------------------------------
\4\ All NYSE members [sic] organizations are NYSE MKT LLC
(``NYSE MKT'') member organizations. See Supplementary Material .10
to Rule 2. NYSE MKT has submitted substantially the same proposed
fee change. See SR-NYSEMKT-2014-53. However, because the ISP
connection will support a member organization's operations for both
SROs, the fee will only be assessed once.
---------------------------------------------------------------------------
The proposed change is not otherwise intended to address any other
issues, and the Exchange is not aware of any problems member
organizations would have in complying with the proposed change.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\5\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\6\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that the proposed rule change is reasonable
because it will result in a more efficient use in the Exchange's
premises and increase the redundancy and resilience in Internet service
to member organizations operating on the Floor, thereby improving those
member organizations' and the Exchange's disaster recovery
capabilities. The proposed change is equitable and not unfairly
discriminatory because there would continue to be an option, as there
is today, for all member organizations operating on the Floor to obtain
a free connection to an ISP. The proposed fees would only apply if,
after the transition period, the member organization elected to have a
separate ISP connection that would require separate equipment hosting
on the Exchange's premises at 11 Wall Street.
Finally, the Exchange believes that it is subject to significant
competitive forces, as described below in the Exchange's statement
regarding the burden on competition.
For these reasons, the Exchange believes that the proposal is
consistent with the Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
In accordance with Section 6(b)(8) of the Act,\7\ the Exchange
believes that the proposed rule change would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. The proposed rule change is not intended to
address any competitive issues among exchanges or broker-dealers but
rather to more efficiently use the Exchange's premises and help to
prevent Internet service disruptions from affecting the Floor, thereby
improving disaster preparedness.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \8\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \9\ thereunder, because it establishes a due, fee, or other charge
imposed by the Exchange.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
At any time within 60 days of the filing of such proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \10\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number SR-NYSE-2014-30 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street N.E., Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSE-2014-30. 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 N.E.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 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-NYSE-2014-30 and should be
submitted on or before July 29, 2014.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 2014-15816 Filed 7-7-14; 8:45 am]
BILLING CODE 8011-01-P