Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Discontinuing the NYSE Retail Trading Product and the NYSE Program Trading Product Market Data Product Offerings, 68367-68369 [2015-28033]

Download as PDF Federal Register / Vol. 80, No. 213 / Wednesday, November 4, 2015 / 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 plan that are filed with the Commission, and all written communications relating to the proposed plan 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 the plan also will be available for inspection and copying at the principal offices of FINRA and EDGX. 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 S7–966 and should be submitted on or before November 25, 2015. asabaliauskas on DSK5VPTVN1PROD with NOTICES V. Discussion The Commission continues to believe that the proposed plan is an achievement in cooperation among the SRO participants. The Plan, as amended, will reduce unnecessary regulatory duplication by allocating to the designated SRO the responsibility for certain options-related sales practice matters that would otherwise be performed by multiple SROs. The plan promotes efficiency by reducing costs to firms that are members of more than one of the SRO participants. In addition, because the SRO participants coordinate their regulatory functions in accordance with the plan, the plan promotes, and will continue to promote, investor protection. Under paragraph (c) of Rule 17d–2, the Commission may, after appropriate notice and comment, declare a plan, or any part of a plan, effective. In this instance, the Commission believes that appropriate notice and comment can take place after the proposed amendment is effective. The primary purpose of the amendment is to add EDGX as a Participant to the Plan and to change the name of Topaz Exchange, LLC to ISE Gemini, LLC. By declaring it effective today, the amended Plan can become effective and be implemented without undue delay.21 The 21 On August 7, 2015, the Commission approved EDGX’s rules governing options trading on the VerDate Sep<11>2014 17:00 Nov 03, 2015 Jkt 238001 Commission notes that the prior version of this plan immediately prior to this proposed amendment was published for comment and the Commission did not receive any comments thereon.22 Furthermore, the Commission does not believe that the amendment to the plan raises any new regulatory issues that the Commission has not previously considered. VI. Conclusion This order gives effect to the amended Plan submitted to the Commission that is contained in File No. S7–966. It is therefore ordered, pursuant to Section 17(d) of the Act, that the Plan, as amended, filed with the Commission pursuant to Rule 17d–2 on June 21, 2013 is hereby approved and declared effective. It is further ordered that those SRO participants that are not the DOEA as to a particular common member are relieved of those regulatory responsibilities allocated to the common member’s DOEA under the amended Plan to the extent of such allocation. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.23 Jill M. Peterson, Assistant Secretary. [FR Doc. 2015–28066 Filed 11–3–15; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–76296; File No. SR–NYSE– 2015–47] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Discontinuing the NYSE Retail Trading Product and the NYSE Program Trading Product Market Data Product Offerings October 29, 2015. 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 15, 2015, 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 EDGX Options Market. See Securities Exchange Act Release No. 75650, 80 FR 48600 (August 13, 2015). 22 See supra note 20 (citing to Securities Exchange Act Release No. 70051). 23 17 CFR 200.30–3(a)(34). 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 68367 Items I, II, and III below, which Items have been prepared by the selfregulatory 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 discontinue the NYSE Retail Trading Product (‘‘NYSE ReTrac’’) and the NYSE Program Trading Product (‘‘NYSE ProTrac’’) market data product offerings. 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 discontinue the NYSE ReTrac and NYSE ProTrac market data offerings (together the ‘‘NYSE ReTrac and ProTrac Products’’). The NYSE ReTrac and ProTrac Products supply subscribers with information on certain executions dependent on the account type indicator associated with a trade. NYSE ReTrac is a real-time datafeed of certain execution report information that has been recorded as trades for accounts of ‘‘individual investors’’ as well as an end-of-day summary. NYSE ProTrac is a real-time data feed of certain execution report information that has been recorded as program trades, and an endof-day summary. In 2006, the Securities and Exchange Commission (‘‘Commission’’) approved the NYSE ReTrac and ProTrac Products and associated fees.4 Over the several 4 See Securities Exchange Act Release No. 53835 (May 18, 2006), 71 FR 30456 (SR–NYSE–2006–31); E:\FR\FM\04NON1.SGM Continued 04NON1 68368 Federal Register / Vol. 80, No. 213 / Wednesday, November 4, 2015 / Notices years since the introduction of the products, subscription has been de minimis. As such, the Exchange believes that the NYSE ReTrac and ProTrac Products did not achieve the intended objective of supplying useful information. The Exchange will provide subscribers with advance notice of the discontinuation of the NYSE ReTrac and ProTrac Products. 2. Statutory Basis asabaliauskas on DSK5VPTVN1PROD with NOTICES 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 discontinuing the NYSE ReTrac and ProTrac Products will remove impediments to and help perfect a free and open market by streamlining the Exchange’s suite of market data products and discontinuing products for which there is no or limited demand. In adopting Regulation NMS, the Commission granted self-regulatory organizations (‘‘SROs’’) and broker dealers increased authority and flexibility to offer new market data products to consumers of such data. It was believed that this authority would expand the amount of data available to users and consumers of such data and also spur innovation and competition for the provision of market data. The Commission concluded that Regulation NMS would itself further the Act’s goals of facilitating efficiency and competition: own internal analysis of the need for such data.7 The Exchange believes the discontinuation of market data products for which there is an overall lack of demand, such as the NYSE ReTrac and ProTrac Products, promotes efficiency because it acknowledges that investors and the public have little or no use for certain information and allows the Exchange to dedicate resources to developing products (including through innovations of existing products and entirely new products) that provide information for which there is more of an expressed need. In addition, the proposal would not permit unfair discrimination because the discontinuation is applicable to all members, issuers and other persons and does not unfairly discriminate between customers, issuers, brokers or dealers. B. Self-Regulatory Organization’s Statement on Burden on Competition In accordance with Section 6(b)(8) of the Act,8 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. The Exchange notes that it operates in a highly competitive market in which other exchanges are free to offer similar products. Additionally, since the demand for the product was de minimis the Exchange’s proposed discontinuance will not harm competition. 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 Efficiency is promoted when brokerdealers who do not need the data beyond the prices, sizes, market center identifications of the NBBO and consolidated last sale information are not required to receive (and pay for) such data. The Commission also believes that efficiency is promoted when broker-dealers may choose to receive (and pay for) additional market data based on their 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 Securities Exchange Act Release No. 53834 (May 18, 2006), 71 FR 30011 (SR–NYSE–2006–32). 5 15 U.S.C. 78f(b). 6 15 U.S.C. 78f(b)(5). 7 See Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005) (‘‘Regulation NMS Adopting Release’’). 8 15 U.S.C. 78f(b)(8). VerDate Sep<11>2014 17:00 Nov 03, 2015 Jkt 238001 PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 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 Exchange has asked the Commission to waive the 30-day operative delay so that it may dedicate resources, without undue delay,15 to creating and supporting products that supply investors and the public with information for which there is more demand. The Commission, noting that the subscription to these data services has been de minimis and that the Exchange has represented that it will provide advance notice of discontinuation to all subscribers, finds that it is consistent with the protection of investors and the public interest to waive the 30-day operative delay.16 Accordingly, the Commission designates the proposed rule change as operative upon filing with the Commission. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and 9 The Exchange has fulfilled this requirement. 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). 15 The Commission notes that the Exchange has represented that it will provide subscribers with advance notice of the discontinuation of the NYSE ReTrac and ProTrac Products. 16 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). 10 15 E:\FR\FM\04NON1.SGM 04NON1 Federal Register / Vol. 80, No. 213 / Wednesday, November 4, 2015 / Notices 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–2015–47 on the subject line. asabaliauskas on DSK5VPTVN1PROD with NOTICES 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–2015–47. 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 10:00 a.m. and 3:00 p.m. Copies of the filing will also be available for inspection and copying 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– 2015–47 and should be submitted on or before November 25, 2015. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 Robert W. Errett, Deputy Secretary. [FR Doc. 2015–28033 Filed 11–3–15; 8:45 am] BILLING CODE 8011–01–P 17 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 17:00 Nov 03, 2015 Jkt 238001 68369 The following is a summary of the application. The complete application [Investment Company Act Release No. may be obtained via the Commission’s 31886; File No. 812–14404] Web site by searching for the file U.S. Bank National Association; Notice number, or for an applicant using the Company name box, at https:// of Application www.sec.gov/search/search.htm or by October 29, 2015. calling (202) 551–8090. Applicant’s Representations: AGENCY: Securities and Exchange 1. The applicant is a subsidiary of Commission (‘‘Commission’’). U.S. Bancorp.1 The applicant is ACTION: Notice of an application under Section 6(c) of the Investment Company frequently selected to act as trustee in connection with ABS issued by Issuers. Act of 1940 (‘‘Act’’) for an exemption 2. An ABS transaction typically from certain requirements of Rule 3a– involves the transfer of assets by a 7(a)(4)(i) under the Act. seller, usually by a ‘‘sponsor,’’ to a bankruptcy remote special purpose Summary of Application: Applicant corporate or trust entity that is requests an order that would permit an established for the sole purpose of issuer of asset-backed securities holding the assets and issuing ABS to (‘‘ABS’’) that is not registered as an investors (an ‘‘ABS Transaction’’). investment company under the Act in reliance on Rule 3a–7 under the Act (an Payments of interest and principal on the ABS depend primarily on the cash ‘‘Issuer’’) to appoint the applicant as a flow generated by the pool of assets trustee in connection with the Issuer’s owned by the Issuer. ABS when the applicant is affiliated 3. The parties to an ABS Transaction with an underwriter for the Issuer’s enter into several transaction ABS. agreements that provide for the holding Applicant: U.S. Bank National of the assets by the Issuer and define the Association. rights and responsibilities of the parties Filing Dates: The application was to the transaction (‘‘Transaction filed on December 19, 2014 and Documents’’). The operative Transaction amended on June 4, 2015, and Document governing the trustee is September 29, 2015. Hearing or Notification of Hearing: An referred to herein as the ‘‘Agreement.’’ 4. The sponsor of an ABS Transaction order granting the application will be assembles the pool of assets by issued unless the Commission orders a purchasing or funding them, describes hearing. Interested persons may request them in the offering materials, and a hearing by writing to the retains the underwriter to sell interests Commission’s Secretary and serving in the assets to investors. The sponsor applicant with a copy of the request, determines the structure of the ABS personally or by mail. Hearing requests Transaction and drafts the Transaction should be received by the Commission Documents. The sponsor selects the by 5:30 p.m. on November 23, 2015 and other parties to the ABS Transaction, should be accompanied by proof of including the underwriter, the servicer, service on the applicant, in the form of and the trustee. an affidavit or, for lawyers, a certificate 5. The servicer, either directly or of service. Pursuant to Rule 0–5 under through subservicers, manages the the Act, hearing requests should state assets held by the Issuer. The servicer the nature of the writer’s interest, any typically collects the income from the facts bearing upon the desirability of a assets and remits the income to the hearing on the matter, the reason for the trustee. The trustee uses the income, as request, and the issues contested. instructed by the servicer and as Persons who wish to be notified of a provided by the Agreement, to pay hearing may request notification by interest and principal on the ABS, to writing to the Commission’s Secretary. fund reserve accounts and purchases of ADDRESSES: The Commission: Brent J. additional assets, and to make other Fields, Secretary, U.S. Securities and payments including fees owed to the Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. 1 The applicant also requests that the order apply to an Issuer’s future appointment of any other entity Applicant: U.S. Bank National controlling, controlled by, or under common Association, 101 East 5th Street, Saint control (as defined in Section 2(a)(9) of the Act) Paul, MN 55101. with the applicant as a trustee in connection with FOR FURTHER INFORMATION CONTACT: Jean an Issuer’s ABS. The applicant represents that any other entity intending to rely on this relief will E. Minarick, Senior Counsel, at (202) comply with the terms and conditions of the 551–6811, or Daniele Marchesani at application. Any existing entity currently intending (202) 551–6821 (Division of Investment to rely on the requested order has been named as an applicant. Management, Chief Counsel’s Office). SECURITIES AND EXCHANGE COMMISSION PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 SUPPLEMENTARY INFORMATION: E:\FR\FM\04NON1.SGM 04NON1

Agencies

[Federal Register Volume 80, Number 213 (Wednesday, November 4, 2015)]
[Notices]
[Pages 68367-68369]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-28033]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-76296; File No. SR-NYSE-2015-47]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Discontinuing the NYSE Retail Trading Product and the NYSE Program 
Trading Product Market Data Product Offerings

October 29, 2015.
    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 15, 2015, 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, 
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\ 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 to discontinue the NYSE Retail Trading 
Product (``NYSE ReTrac'') and the NYSE Program Trading Product (``NYSE 
ProTrac'') market data product offerings. 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 discontinue the NYSE ReTrac and NYSE 
ProTrac market data offerings (together the ``NYSE ReTrac and ProTrac 
Products''). The NYSE ReTrac and ProTrac Products supply subscribers 
with information on certain executions dependent on the account type 
indicator associated with a trade. NYSE ReTrac is a real-time datafeed 
of certain execution report information that has been recorded as 
trades for accounts of ``individual investors'' as well as an end-of-
day summary. NYSE ProTrac is a real-time data feed of certain execution 
report information that has been recorded as program trades, and an 
end-of-day summary.
    In 2006, the Securities and Exchange Commission (``Commission'') 
approved the NYSE ReTrac and ProTrac Products and associated fees.\4\ 
Over the several

[[Page 68368]]

years since the introduction of the products, subscription has been de 
minimis. As such, the Exchange believes that the NYSE ReTrac and 
ProTrac Products did not achieve the intended objective of supplying 
useful information.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 53835 (May 18, 
2006), 71 FR 30456 (SR-NYSE-2006-31); Securities Exchange Act 
Release No. 53834 (May 18, 2006), 71 FR 30011 (SR-NYSE-2006-32).
---------------------------------------------------------------------------

    The Exchange will provide subscribers with advance notice of the 
discontinuation of the NYSE ReTrac and ProTrac Products.
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 discontinuing the NYSE ReTrac and 
ProTrac Products will remove impediments to and help perfect a free and 
open market by streamlining the Exchange's suite of market data 
products and discontinuing products for which there is no or limited 
demand.
    In adopting Regulation NMS, the Commission granted self-regulatory 
organizations (``SROs'') and broker dealers increased authority and 
flexibility to offer new market data products to consumers of such 
data. It was believed that this authority would expand the amount of 
data available to users and consumers of such data and also spur 
innovation and competition for the provision of market data. The 
Commission concluded that Regulation NMS would itself further the Act's 
goals of facilitating efficiency and competition:

    Efficiency is promoted when broker-dealers who do not need the 
data beyond the prices, sizes, market center identifications of the 
NBBO and consolidated last sale information are not required to 
receive (and pay for) such data. The Commission also believes that 
efficiency is promoted when broker-dealers may choose to receive 
(and pay for) additional market data based on their own internal 
analysis of the need for such data.\7\
---------------------------------------------------------------------------

    \7\ See Securities Exchange Act Release No. 51808 (June 9, 
2005), 70 FR 37496 (June 29, 2005) (``Regulation NMS Adopting 
Release'').

    The Exchange believes the discontinuation of market data products 
for which there is an overall lack of demand, such as the NYSE ReTrac 
and ProTrac Products, promotes efficiency because it acknowledges that 
investors and the public have little or no use for certain information 
and allows the Exchange to dedicate resources to developing products 
(including through innovations of existing products and entirely new 
products) that provide information for which there is more of an 
expressed need. In addition, the proposal would not permit unfair 
discrimination because the discontinuation is applicable to all 
members, issuers and other persons and does not unfairly discriminate 
between customers, issuers, brokers or dealers.

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

    In accordance with Section 6(b)(8) of the Act,\8\ 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.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------

    The Exchange notes that it operates in a highly competitive market 
in which other exchanges are free to offer similar products. 
Additionally, since the demand for the product was de minimis the 
Exchange's proposed discontinuance will not harm competition.

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 it may 
dedicate resources, without undue delay,\15\ to creating and supporting 
products that supply investors and the public with information for 
which there is more demand. The Commission, noting that the 
subscription to these data services has been de minimis and that the 
Exchange has represented that it will provide advance notice of 
discontinuation to all subscribers, finds that it is consistent with 
the protection of investors and the public interest to waive the 30-day 
operative delay.\16\ Accordingly, the Commission designates the 
proposed rule change as operative upon filing with the Commission.
---------------------------------------------------------------------------

    \13\ 17 CFR 240.19b-4(f)(6).
    \14\ 17 CFR 240.19b-4(f)(6)(iii).
    \15\ The Commission notes that the Exchange has represented that 
it will provide subscribers with advance notice of the 
discontinuation of the NYSE ReTrac and ProTrac Products.
    \16\ 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

[[Page 68369]]

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-2015-47 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-2015-47. 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 
10:00 a.m. and 3:00 p.m. Copies of the filing will also be available 
for inspection and copying 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-2015-47 and should be submitted on or before 
November 25, 2015.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\17\
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    \17\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-28033 Filed 11-3-15; 8:45 am]
 BILLING CODE 8011-01-P
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