Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to the NYSE Proprietary Market Data Fee Schedule Regarding Non-Display Use Fees, 67220-67222 [2014-26688]

Download as PDF 67220 Federal Register / Vol. 79, No. 218 / Wednesday, November 12, 2014 / Notices restructuring of indirect ownership interests of the Exchange, and will not involve the introduction of any new direct or indirect owners or any entity or individual that would have the right to direct the actions of the Exchange or vote the shares of the Exchange. As such, the Exchange believes that the proposal is consistent with the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 45 days of the publication date of this notice or within such longer period (1) as the Commission may designate up to 45 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (2) as to which the selfregulatory 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, as modified by Amendment No. 1, is consistent with the Act. Comments may be submitted by any of the following methods: TKELLEY on DSK3SPTVN1PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml ); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– ISEGemini-2014–24 on the subject line. Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–ISEGemini-2014–24. 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 VerDate Sep<11>2014 17:55 Nov 10, 2014 Jkt 235001 Commission will post all comments on the Commission’s Internet Web site (http://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 10:00 a.m. and 3:00 p.m. Copies of such filing also will be available for inspection and copying at the principal offices 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– ISEGemini-2014–24, and should be submitted on or before December 3, 2014. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.38 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2014–26691 Filed 11–10–14; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–73528; File No. SR–NYSE– 2014–58] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to the NYSE Proprietary Market Data Fee Schedule Regarding Non-Display Use Fees November 5, 2014. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on October 29, 2014, 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 CFR 200.30–3(a)(12). U.S.C.78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. 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 a change to the NYSE Proprietary Market Data Fee Schedule (‘‘Market Data Fee Schedule’’) regarding non-display use fees. The text of the proposed rule change is available on the Exchange’s Web site at www.nyse.com, at the principal office of the Exchange, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes a change to the Market Data Fee Schedule regarding non-display use fees for NYSE OpenBook, NYSE Trades, NYSE BBO and NYSE Order Imbalances, the market data products to which non-display use fees apply. Specifically, with respect to the three categories of, and fees applicable to, market data recipients for non-display use, the Exchange proposes to describe the three categories in the Market Data Fee Schedule. In September 2014, the Exchange revised the fees for non-display use of NYSE OpenBook, NYSE Trades, and NYSE BBO and added fees for nondisplay use of NYSE Order Imbalances.4 In the 2014 Filing, the Exchange proposed certain changes to the categories of, and fees applicable to, data recipients for non-display use. As set forth in the 2014 Filing: (i) Category 1 Fees apply when a data recipient’s non-display use of real-time market data 38 17 1 15 PO 00000 Frm 00065 Fmt 4703 Sfmt 4703 4 See Securities Exchange Act Release No. 72923 (August 26, 2014), 79 FR 52079 (September 2, 2014) (SR–NYSE–2014–43) (‘‘2014 Filing’’). E:\FR\FM\12NON1.SGM 12NON1 Federal Register / Vol. 79, No. 218 / Wednesday, November 12, 2014 / Notices is on its own behalf as opposed to use on behalf of its clients; (ii) Category 2 Fees apply when a data recipient’s nondisplay use of real-time market data is on behalf of its clients as opposed to use on its own behalf; and (iii) Category 3 Fees apply when a data recipient’s nondisplay use of real-time market data is for the purpose of internally matching buy and sell orders within an organization, including matching customer orders on a data recipient’s own behalf and/or on behalf of its clients. The Market Data Fee Schedule currently lists each category as Category 1, Category 2, and Category 3, without further description. The Exchange is proposing to amend the Market Data Fee Schedule to add the descriptions of the three categories, as set forth above, as a footnote to the Market Data Fee Schedule. Because there will now be multiple footnotes to the Market Data Fee Schedule, the Exchange proposes non-substantive edits to change the existing footnote references from asterisks to numbers. TKELLEY on DSK3SPTVN1PROD with NOTICES 2. Statutory Basis The proposed rule change is consistent with Section 6(b) 5 of the Act, in general, and furthers the objectives of Section 6(b)(5) 6 of the Act, in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest, and it is not designed to permit unfair discrimination among customers, brokers, or dealers. The Exchange believes that adding the description of the three categories of data recipients for non-display use to the Market Data Fee Schedule will remove impediments to and help perfect a free and open market by providing greater transparency for the Exchange’s customers regarding the category descriptions that have been previously filed with the Commission and are applicable to the existing Market Data Fee Schedule.7 B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not 5 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 7 See supra n. 4. 6 15 VerDate Sep<11>2014 17:55 Nov 10, 2014 Jkt 235001 necessary or appropriate in furtherance of the purposes of the Act because the Exchange is merely adding to the Market Data Fee Schedule information that has been previously filed with the Commission.8 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 Because the foregoing proposed rule does not (i) significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest, provided that the self-regulatory organization has given the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change or such shorter time as designated by the Commission,9 the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 10 and Rule 19b–4(f)(6) thereunder.11 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) 12 of the Act to determine whether the proposed rule change should be approved or disapproved. A proposed rule change filed under Rule 19b–4(f)(6) 13 normally does not become operative prior to 30 days after the date of the filing. However, pursuant to Rule 19b4(f)(6)(iii),14 the Commission may designate a shorter time if such action is consistent with the protection of investors and the public interest. The 8 See supra n. 4. Exchange has fulfilled this requirement. 10 15 U.S.C. 78s(b)(3)(A). 11 17 CFR 240.19b–4(f)(6). 12 15 U.S.C. 78s(b)(2)(B). 13 17 CFR 240.19b–4(f)(6). 14 17 CFR 240.19b–4(f)(6)(iii). 9 The PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 67221 Exchange has asked the Commission to waive the 30-day operative delay so that the proposal may become operative immediately upon filing. The Exchange believes that adding the description of the categories of market data recipients for non-display use to the Market Data Fee Schedule is consistent with the protection of investors and the public interest because it will provide more transparency in the Exchange’s Market Data Fee Schedule regarding the existing definitions in that schedule. The Commission agrees and has determined to waive the 30-day operative date so that the proposal may take effect upon filing.15 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 (http://www.sec.gov/ rules/sro.shtml ); or • Send an email to rule-comments@ sec.gov. Please include File Number SR– NYSE–2014–58 on the subject line. Paper Comments • Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSE–2014–58. 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 (http://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., 15 For purposes only of accelerating the operative date of this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). E:\FR\FM\12NON1.SGM 12NON1 67222 Federal Register / Vol. 79, No. 218 / Wednesday, November 12, 2014 / Notices Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. Copies of the filing will also be available for Web site viewing and printing at the NYSE’s principal office and on its Internet Web site at www.nyse.com. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–NYSE– 2014–58 and should be submitted on or before December 3, 2014. (‘‘By-Laws’’) of the NASDAQ OMX Group, Inc. (‘‘NASDAQ OMX’’), the parent company of the SROs.4 The proposed rule changes by BSECC and SCCP were published for comment in the Federal Register on September 25, 2014 5 and the proposed rule changes by BX, NASDAQ and Phlx were published for comment in the Federal Register on September 29, 2014.6 The Commission received no comment letters on the proposals. II. Discussion A. Background Article Fourth, Paragraph C of NASDAQ OMX’s Charter includes a For the Commission, by the Division of voting limitation that generally Trading and Markets, pursuant to delegated authority.16 prohibits a stockholder from voting shares beneficially owned, directly or Kevin M. O’Neill, indirectly, by such stockholder in Deputy Secretary. excess of 5% of the then-outstanding [FR Doc. 2014–26688 Filed 11–10–14; 8:45 am] shares of capital stock of NASDAQ BILLING CODE 8011–01–P OMX entitled to vote as of the record date in respect of any matter. Pursuant to Article Fourth, Paragraph C(6) of the SECURITIES AND EXCHANGE Charter, NASDAQ OMX’s Board may COMMISSION grant exemptions to this limitation prior [Release No. 34–73516; File Nos. SR– to the time a stockholder beneficially BSECC–2014–001; SR–BX–2014–045; SR– owns more than 5% of the outstanding NASDAQ–2014–093; SR–Phlx–2014–61; SR– shares of stock entitled to vote on the SCCP–2014–01] election of a majority of directors at Self-Regulatory Organizations; Boston such time. Article Fourth, Paragraph Stock Exchange Clearing Corporation; C(6) of the Charter and Section 12.5 of the By-Laws limit the Board’s authority NASDAQ OMX BX, Inc.; the NASDAQ to grant the exemption. The SROs note Stock Market LLC; NASDAQ OMX PHLX LLC; Stock Clearing Corporation that these provisions, which are intended to be substantively identical, of Philadelphia; Order Approving Proposed Rule Changes To Amend the currently contain some language differences. Therefore, the SROs Restated Certificate of Incorporation and By-Laws of the NASDAQ OMX 4 Certain provisions of NASDAQ OMX’s Charter Group, Inc. TKELLEY on DSK3SPTVN1PROD with NOTICES November 5, 2014. I. Introduction On September 10, 2014, Boston Stock Exchange Clearing Corporation (‘‘BSECC’’), NASDAQ OMX BX, Inc. (‘‘BX’’), the NASDAQ Stock Market LLC (‘‘NASDAQ’’), NASDAQ OMX PHLX LLC (‘‘Phlx’’), and the Stock Clearing Corporation of Philadelphia (‘‘SCCP’’ and, together with BSECC, BX, NASDAQ and Phlx, the ‘‘SROs’’ or ‘‘Self-Regulatory Subsidiaries’’), filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’),2 and Rule 19b–4 thereunder,3 proposed rule changes with respect to amendments to the Amended and Restated Certificate of Incorporation (‘‘Charter’’) and By-Laws 16 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 VerDate Sep<11>2014 17:55 Nov 10, 2014 Jkt 235001 and By-Laws are rules of a self-regulatory organization if they are stated policies, practices, or interpretations, as defined in Rule 19b–4 under the Act, of the self-regulatory organization, and must be filed with the Commission pursuant to Section 19(b) of the Act and Rule 19b–4 thereunder. See Securities Exchange Act Release Nos. 58183 (July 17, 2008), 73 FR 42850 (July 23, 2008) (File No. SR– NASDAQ–2008–035); 58324 (August 7, 2008), 73 FR 46936 (August 12, 2008) (File Nos. SR–BSE– 2008–02; SR–BSE–2008–23; SR–BSE–2008–25; SR– BSECC–2008–01); and 58180 (July 17, 2008), 73 FR 42890 (July 23, 2008) (File No. SR–SCCP–2008–01) (Order Approving a Proposed Rule Change, as Modified by Amendment No. 1, To Amend the ByLaws of the NASDAQ OMX Group, Inc. in Connection With the Acquisitions of Boston Stock Exchange, Incorporated and Philadelphia Stock Exchange, Inc.). Accordingly, the SROs have filed with the Commission proposed changes to the NASDAQ OMX Charter and By-Laws. 5 See Securities Exchange Act Release Nos. 73144 (September 19, 2014), 79 FR 57624 (September 25, 2014) (SR–BSECC–2014–001) and 73145 (September 19, 2014), 79 FR 57648 (September 25, 2014) (SR–SCCP–2014–01). 6 See Securities Exchange Act Release Nos. 73195 (September 23, 2014), 79 FR 58397 (September 29, 2014) (SR–BX–2014–045); 73193 (September 23, 2014), 79 FR 58388 (September 29, 2014) (SR– NASDAQ–2014–093); and 73194 (September 23, 2014), 79 FR 58393 (September 29, 2014) (SR–Phlx– 2014–61). PO 00000 Frm 00067 Fmt 4703 Sfmt 4703 propose that NASDAQ OMX adopt the amendments described below to the Charter and By-Laws to conform these provisions and remove any ambiguity that may exist. B. Proposed Amendments to the Charter First, the SROs propose to add a statement to Article Fourth, Paragraph C(6) of the Charter that for so long as NASDAQ OMX shall control, directly or indirectly, any Self-Regulatory Subsidiary, a resolution of the Board to approve an exemption for any person under Article Fourth, Paragraph C(6) of the Charter shall not be permitted to become effective until such resolution has been filed with and approved by the SEC under Section 19 of the Act. In addition, the SROs propose to define ‘‘Self-Regulatory Subsidiary,’’ which is currently not a defined term in the Charter, as any subsidiary of NASDAQ OMX that is a ‘‘self-regulatory organization’’ as defined under Section 3(a)(26) of the Act.7 These changes would conform the Charter to language currently in the By-Laws. Second, the SROs propose to add an additional language to the current provision in Article Fourth, Paragraph C(6) of the Charter that states the Board may not approve an exemption to the 5% voting limitation for: (i) A registered broker or dealer or an affiliate thereof or (ii) an individual or entity that is subject to a statutory disqualification under Section 3(a)(39) of the Act. Specifically, the SROs propose to add a proviso to Article Fourth, Paragraph C(6) of the Charter stating that for these purposes, an ‘‘affiliate’’ shall not be deemed to include an entity that either owns 10% or less of the equity of a broker or dealer, or receives 1% or less of its consolidated gross revenues from a broker or dealer. This change would conform the Charter to language currently in the By-Laws. Third, the SROs propose to change a reference in Article Fourth, Paragraph C(6) of the Charter from The NASDAQ Stock Market LLC to ‘‘the SelfRegulatory Subsidiaries.’’ This change would conform the Charter to language currently in the By-laws and would also include the other Self-Regulatory Subsidiaries in addition to the NASDAQ Stock Market LLC. Fourth, the SROs propose to add a requirement to Article Fourth, 7 Under Section 3(a)(26) of the Act, a ‘‘selfregulatory organization’’ is defined as ‘‘any national securities exchange, registered securities association, or registered clearing agency . . . .’’ 15 U.S.C. 78c(a)(26). At present, this defined term would include NASDAQ, BX and Phlx, which are national securities exchanges, and BSECC and SCCP, which are registered clearing agencies that are currently dormant. E:\FR\FM\12NON1.SGM 12NON1

Agencies

[Federal Register Volume 79, Number 218 (Wednesday, November 12, 2014)]
[Notices]
[Pages 67220-67222]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-26688]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-73528; File No. SR-NYSE-2014-58]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change to 
the NYSE Proprietary Market Data Fee Schedule Regarding Non-Display Use 
Fees

November 5, 2014.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that on October 29, 2014, 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 Substance 
of the Proposed Rule Change

    The Exchange proposes a change to the NYSE Proprietary Market Data 
Fee Schedule (``Market Data Fee Schedule'') regarding non-display use 
fees. The text of the proposed rule change is available on the 
Exchange's Web site at www.nyse.com, at the principal office of the 
Exchange, and at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization 
included statements concerning the purpose of, and basis for, the 
proposed rule change and discussed any comments it received on the 
proposed rule change. The text of those statements may be examined at 
the places specified in Item IV below. The Exchange has prepared 
summaries, set forth in sections A, B, and C below, of the most 
significant parts of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes a change to the Market Data Fee Schedule 
regarding non-display use fees for NYSE OpenBook, NYSE Trades, NYSE BBO 
and NYSE Order Imbalances, the market data products to which non-
display use fees apply. Specifically, with respect to the three 
categories of, and fees applicable to, market data recipients for non-
display use, the Exchange proposes to describe the three categories in 
the Market Data Fee Schedule.
    In September 2014, the Exchange revised the fees for non-display 
use of NYSE OpenBook, NYSE Trades, and NYSE BBO and added fees for non-
display use of NYSE Order Imbalances.\4\ In the 2014 Filing, the 
Exchange proposed certain changes to the categories of, and fees 
applicable to, data recipients for non-display use. As set forth in the 
2014 Filing: (i) Category 1 Fees apply when a data recipient's non-
display use of real-time market data

[[Page 67221]]

is on its own behalf as opposed to use on behalf of its clients; (ii) 
Category 2 Fees apply when a data recipient's non-display use of real-
time market data is on behalf of its clients as opposed to use on its 
own behalf; and (iii) Category 3 Fees apply when a data recipient's 
non-display use of real-time market data is for the purpose of 
internally matching buy and sell orders within an organization, 
including matching customer orders on a data recipient's own behalf 
and/or on behalf of its clients. The Market Data Fee Schedule currently 
lists each category as Category 1, Category 2, and Category 3, without 
further description.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 72923 (August 26, 
2014), 79 FR 52079 (September 2, 2014) (SR-NYSE-2014-43) (``2014 
Filing'').
---------------------------------------------------------------------------

    The Exchange is proposing to amend the Market Data Fee Schedule to 
add the descriptions of the three categories, as set forth above, as a 
footnote to the Market Data Fee Schedule. Because there will now be 
multiple footnotes to the Market Data Fee Schedule, the Exchange 
proposes non-substantive edits to change the existing footnote 
references from asterisks to numbers.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) \5\ of the 
Act, in general, and furthers the objectives of Section 6(b)(5) \6\ of 
the Act, in particular, in that it is designed to prevent fraudulent 
and manipulative acts and practices, to promote just and equitable 
principles of trade, to foster cooperation and coordination with 
persons engaged in facilitating transactions in securities, to remove 
impediments to and perfect the mechanism of a free and open market and 
a national market system and, in general, to protect investors and the 
public interest, and it is not designed to permit unfair discrimination 
among customers, brokers, or dealers.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that adding the description of the three 
categories of data recipients for non-display use to the Market Data 
Fee Schedule will remove impediments to and help perfect a free and 
open market by providing greater transparency for the Exchange's 
customers regarding the category descriptions that have been previously 
filed with the Commission and are applicable to the existing Market 
Data Fee Schedule.\7\
---------------------------------------------------------------------------

    \7\ See supra n. 4.
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act because the Exchange is 
merely adding to the Market Data Fee Schedule information that has been 
previously filed with the Commission.\8\
---------------------------------------------------------------------------

    \8\ See supra n. 4.
---------------------------------------------------------------------------

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing proposed rule does not (i) significantly 
affect the protection of investors or the public interest; (ii) impose 
any significant burden on competition; and (iii) become operative for 
30 days from the date on which it was filed, or such shorter time as 
the Commission may designate if consistent with the protection of 
investors and the public interest, provided that the self-regulatory 
organization has given the Commission written notice of its intent to 
file the proposed rule change at least five business days prior to the 
date of filing of the proposed rule change or such shorter time as 
designated by the Commission,\9\ the proposed rule change has become 
effective pursuant to Section 19(b)(3)(A) of the Act \10\ and Rule 19b-
4(f)(6) thereunder.\11\
---------------------------------------------------------------------------

    \9\ The Exchange has fulfilled this requirement.
    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    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) \12\ of the Act to determine whether the proposed 
rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \13\ normally 
does not become operative prior to 30 days after the date of the 
filing. However, pursuant to Rule 19b4(f)(6)(iii),\14\ the Commission 
may designate a shorter time if such action is consistent with the 
protection of investors and the public interest. The Exchange has asked 
the Commission to waive the 30-day operative delay so that the proposal 
may become operative immediately upon filing. The Exchange believes 
that adding the description of the categories of market data recipients 
for non-display use to the Market Data Fee Schedule is consistent with 
the protection of investors and the public interest because it will 
provide more transparency in the Exchange's Market Data Fee Schedule 
regarding the existing definitions in that schedule. The Commission 
agrees and has determined to waive the 30-day operative date so that 
the proposal may take effect upon filing.\15\
---------------------------------------------------------------------------

    \13\ 17 CFR 240.19b-4(f)(6).
    \14\ 17 CFR 240.19b-4(f)(6)(iii).
    \15\ For purposes only of accelerating the operative date of 
this proposal, the Commission has considered the proposed rule's 
impact on efficiency, competition, and capital formation. 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

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 (http://www.sec.gov/rules/sro.shtml ); or
     Send an email to rule-comments@sec.gov. Please include 
File Number SR-NYSE-2014-58 on the subject line.

Paper Comments

     Send paper comments in triplicate to Brent J. Fields, 
Secretary, Securities and Exchange Commission, 100 F Street NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2014-58. 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 (http://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.,

[[Page 67222]]

Washington, DC 20549, on official business days between the hours of 
10:00 a.m. and 3:00 p.m. Copies of the filing will also be available 
for Web site viewing and printing at the NYSE's principal office and on 
its Internet Web site at www.nyse.com. All comments received will be 
posted without change; the Commission does not edit personal 
identifying information from submissions. You should submit only 
information that you wish to make available publicly. All submissions 
should refer to File Number SR-NYSE-2014-58 and should be submitted on 
or before December 3, 2014.
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    \16\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\16\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-26688 Filed 11-10-14; 8:45 am]
BILLING CODE 8011-01-P