Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Amending the Fees for NYSE Arca Proprietary Market Data as They Apply to Federal Agency Customers, 12163-12165 [2016-05121]
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Federal Register / Vol. 81, No. 45 / Tuesday, March 8, 2016 / Notices
adds NSX as a Participant 5 to the Plan.
The Commission is publishing this
notice to solicit comments on the
amendment from interested persons.
asabaliauskas on DSK3SPTVN1PROD with NOTICES
I. Description and Purpose of the Plan
Amendment
As noted above, the sole proposed
amendment to the Plan is to add the
Exchange as a Participant. At the time
that the Plan was initially filed, NSX
had ceased trading operations pursuant
to a rule filing with the Commission; 6
however, even though it had ceased
trading operations, NSX retained its
status as a registered national securities
exchange and self-regulatory
organization. On December 5, 2015 [sic],
the Commission issued an order
approving a proposed rule change by
NSX to enable trading activity to resume
on the Exchange and make certain other
rule changes.7 As of December 31, 2015,
NSX resumed its status as a fully
operational national securities
exchange, trading equity securities and
equity derivative products on the basis
of unlisted trading privileges.
Under Section II(C) of the Plan, any
entity registered as a national securities
exchange or national securities
association under the Exchange Act may
become a Participant by: (1) Executing
a copy of the Plan, as then in effect; (2)
providing each then-current Participant
with a copy of such executed Plan; and
(3) effecting an amendment to the Plan
as specified in Section III(B) of the Plan.
Section III(B) sets forth the process for
a prospective new Participant to effect
an amendment of the Plan. Specifically,
the Plan provides that such an
amendment to the Plan may be effected
by the new national securities exchange
or national securities association
executing a copy of the Plan as then in
effect (with the only changes being the
addition of the new Participant’s name
in Section II(A) of the Plan); and
submitting such executed Plan to the
Commission for approval. The
amendment will be effective when it is
approved by the Commission in
accordance with Rule 608 of Regulation
NMS, or otherwise becomes effective
pursuant to Rule 608 of Regulation
NMS.
NSX has executed a copy of the Plan
currently in effect, with the only change
Securities Exchange Act Release No. 76382
(November 6, 2015), 80 FR 70284 (November 13,
2015).
5 The term ‘‘Participant’’ is defined as a party to
the Plan.
6 See Securities Exchange Act Release No. 72107
(May 6, 2014), 79 FR 27017 (May 12, 2014) (SR–
NSX–2014–14).
7 See Securities Exchange Act Release No. 76640
(December 14, 2015), 80 FR 79122 (December 18,
2015) (SR–NSX–2015–05).
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being the addition of its name in Section
II(A) of the Plan, and has provided a
copy of the Plan executed by NSX to
each of the other Participants. Under the
cover of this letter, NSX is submitting
the executed Plan to the Commission for
approval. Accordingly, all of the Plan
requirements for effecting an
amendment to the Plan to add NSX as
a Participant have been satisfied.
II. Effectiveness of the Proposed Plan
Amendment
The foregoing Plan amendment has
become effective pursuant to Rule
608(b)(3)(iii) of the Exchange Act 8
because it involves solely technical or
ministerial matters. At any time within
sixty days of the filing of this
amendment, the Commission may
summarily abrogate the amendment and
require that it be refiled pursuant to
paragraph (b)(1) of Rule 608,9 if it
appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors or the maintenance of fair and
orderly markets, to remove impediments
to, and perfect the mechanisms of, a
national market system or otherwise in
furtherance of the purposes of the Act.
III. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the amendment is
consistent with the Exchange Act.
Comments may be submitted by any of
the following methods:
12163
rule change that are filed with the
Commission, and all written
communications relating to the
amendment 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 NSX. 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 4–657 and should be submitted
on or before March 29, 2016.
By the Commission.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–05105 Filed 3–7–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–77281; File No. SR–
NYSEArca–2016–37]
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 4–
657 on the subject line.
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Amending the Fees for
NYSE Arca Proprietary Market Data as
They Apply to Federal Agency
Customers
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 4–657. 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
March 3, 2016.
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 February
26, 2016, NYSE Arca, Inc. (the
‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 selfregulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
1 15
8 17
CFR 242.608(b)(3)(iii).
9 17 CFR 242.608(b)(1).
PO 00000
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Fmt 4703
Sfmt 4703
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
E:\FR\FM\08MRN1.SGM
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12164
Federal Register / Vol. 81, No. 45 / Tuesday, March 8, 2016 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
fees for NYSE Arca proprietary market
data as they apply to Federal agency
customers. 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
asabaliauskas on DSK3SPTVN1PROD with NOTICES
1. Purpose
The Exchange proposes to amend the
NYSE Arca Equities Proprietary Market
Data Fee Schedule (‘‘Fee Schedule’’), to
provide that market data fees do not
apply to any Federal agency for their
use of NYSE Arca real-time proprietary
market data products. The term
‘‘Federal agency’’ as used in the Fee
Schedule would include all Federal
agencies subject to the Federal
Acquisition Regulation (FAR),4 as well
as any Federal agency not subject to
FAR that has promulgated its own
procurement rules.5
The Exchange is proposing to specify
that access fees, professional user fees
and non-display fees do not apply to
Federal agencies for those products to
which those fees apply.6 The proposal
4 FAR is the principal set of rules governing the
process by which the U.S. federal government
purchases goods and services.
5 See 48 CFR 2.101. FAR defines ‘‘Federal
agency’’ as ‘‘any executive agency or any
independent establishment in the legislative or
judicial branch of the Government (except the
Senate, the House of Representatives, the Architect
of the Capitol, and any activities under the
Architect’s direction).’’ ‘‘Executive agency’’ is
defined as ‘‘an executive department, a military
department, or any independent establishment
within the meaning of 5 U.S.C. 101, 102, and
104(1), respectively, and any wholly owned
Government corporation within the meaning of 31
U.S.C. 9101.’’
6 These products are currently NYSE Arca
Integrated Feed, NYSE ArcaBook, NYSE Arca BBO,
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17:02 Mar 07, 2016
Jkt 238001
is designed to allow the Exchange to
provide Federal agencies with NYSE
Arca real-time proprietary market data
products at no cost in support of Federal
agencies’ regulatory responsibilities.
With the adoption of the proposed fee
waiver, the Exchange is not waiving any
of its contractual rights and all Federal
agencies that subscribe to NYSE Arca
real-time proprietary market data
products will be required to execute the
appropriate subscriber agreement,
which includes, among other things,
provisions against the redistribution of
data.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,7
in general, and Sections 6(b)(4) and
6(b)(5) of the Act,8 in particular, in that
it provides an equitable allocation of
reasonable fees among users and
recipients of the data and is not
designed to permit unfair
discrimination among customers,
issuers, and brokers.
The Exchange believes the proposal to
eliminate the access fees, display fees
for professional users, and non-display
fees associated with its proprietary
market data products for customers that
are Federal agencies is reasonable,
equitable and not unfairly
discriminatory because it is designed to
facilitate federal government regulation
without giving an undue advantage to
one set of commercial users over
another. The Exchange believes that it is
reasonable to assess no fees to Federal
agencies that subscribe to the
Exchange’s proprietary market data
products because Federal agencies do
not use the Exchange’s proprietary
market data for commercial gain, but
only for regulatory purposes.
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. In setting the
proposed fees, the Exchange considered
the competitiveness of the market for
proprietary data and all of the
implications of that competition. The
Federal agencies that will benefit from
the proposed rule change, however, do
not use the Exchange’s proprietary
market data products for commercial
purposes and do not compete with
NYSE Arca Trades and NYSE Arca Order
Imbalances.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(4), (5).
PO 00000
Frm 00100
Fmt 4703
Sfmt 4703
commercial users of the data. The
Exchange believes that it has considered
all relevant factors and has not
considered irrelevant factors in order to
establish fair, reasonable, and not
unreasonably discriminatory fees and an
equitable allocation of fees among all
users.
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) 9 of the Act and
subparagraph (f)(2) of Rule 19b–4 10
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) 11 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 rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2016–37 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street NE.,
Washington, DC 20549–1090.
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
11 15 U.S.C. 78s(b)(2)(B).
10 17
E:\FR\FM\08MRN1.SGM
08MRN1
Federal Register / Vol. 81, No. 45 / Tuesday, March 8, 2016 / Notices
All submissions should refer to File
Number SR–NYSEArca–2016–37. 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 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–
NYSEArca–2016–37 and should be
submitted on or before March 29, 2016.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–05121 Filed 3–7–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
asabaliauskas on DSK3SPTVN1PROD with NOTICES
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA Services,
100 F Street NE., Washington, DC
20549–2736.
Extension:
Rule 17g–4; SEC File No. 270–566, OMB
Control No. 3235–0627.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) (‘‘PRA’’), the
Securities and Exchange Commission
12 17
CFR 200.30–3(a)(12).
VerDate Sep<11>2014
17:02 Mar 07, 2016
Jkt 238001
(‘‘Commission’’) has submitted to the
Office of Management and Budget
(‘‘OMB’’) a request for approval of
extension of the previously approved
collection of information provided for in
Rule 17g–4 (17 CFR 240.17g–4) under
the Securities Exchange Act of 1934 (15
U.S.C. 78a et seq.) (‘‘Exchange Act’’).
The Credit Rating Agency Reform Act
of 2006 added a new section 15E,
‘‘Registration of Nationally Recognized
Statistical Rating Organizations,’’ 1 to
the Exchange Act. Pursuant to the
authority granted under section 15E of
the Exchange Act, the Commission
adopted Rule 17g–4, which requires that
a nationally recognized statistical rating
organization (‘‘NRSRO’’) establish,
maintain, and enforce written policies
and procedures to prevent the misuse of
material nonpublic information,
including policies and procedures
reasonably designed to prevent: (a) The
inappropriate dissemination of material
nonpublic information obtained in
connection with the performance of
credit rating services; (b) a person
within the NRSRO from trading on
material nonpublic information; and (c)
the inappropriate dissemination of a
pending credit rating action.2
There are 10 credit rating agencies
registered with the Commission as
NRSROs under section 15E of the
Exchange Act, which have already
established the policies and procedures
required by Rule 17g–4. Based on staff
experience, an NRSRO is estimated to
spend an average of approximately 10
hours per year reviewing its policies
and procedures regarding material
nonpublic information and updating
them (if necessary), resulting in an
average industry-wide annual hour
burden of approximately 100 hours.3
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid OMB
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid OMB control number.
Background documentation for this
information collection may be viewed at
the following Web site:
www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the
Securities and Exchange Commission,
Office of Information and Regulatory
Affairs, Office of Management and
Budget, Room 10102, New Executive
1 15
U.S.C. 78o–7.
17 CFR 240.17g–4; Release No. 34–55231
(Feb. 2, 2007), 72 FR 6378 (Feb. 9, 2007); Release
No. 34–55857 (June 5, 2007), 72 FR 33564 (June 18,
2007).
3 10 currently registered NRSROs × 10 hours =
100 hours.
2 See
PO 00000
Frm 00101
Fmt 4703
Sfmt 4703
12165
Office Building, Washington, DC 20503,
or by sending an email to: Shagufta_
Ahmed@omb.eop.gov; and (ii) Pamela
Dyson, Director/Chief Information
Officer, Securities and Exchange
Commission, c/o Remi Pavlik-Simon,
100 F St. NE., Washington, DC 20549 or
send an email to: PRA_Mailbox@
sec.gov. Comments must be submitted to
OMB within 30 days of this notice.
Dated: March 1, 2016.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016–05042 Filed 3–7–16; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. IC–32019; File No. 812–13754]
Apollo Investment Corporation, et al.;
Notice of Application
March 2, 2016.
Securities and Exchange
Commission (‘‘Commission’’).
ACTION: Notice of application for an
order under sections 17(d) and 57(i) of
the Investment Company Act of 1940
(the ‘‘Act’’) and rule 17d–1 under the
Act to permit certain joint transactions
otherwise prohibited by sections 17(d)
and 57(a)(4) of the Act and rule 17d–1
under the Act.
AGENCY:
Summary of Application: Applicants
request an order to permit certain
business development companies and
closed-end management investment
companies to co-invest in portfolio
companies with each other and with
affiliated investment funds.
Applicants: Apollo Investment
Corporation (‘‘AIC’’), Apollo Tactical
Income Fund Inc. (‘‘AIF’’), Apollo
Investment Management, L.P. (‘‘AIM’’),
Apollo Management VII, L.P., Apollo
Management VIII, L.P., Apollo Global
Real Estate Management, L.P., Apollo
Capital Management, L.P., Apollo SVF
Management, L.P., Apollo Value
Management, L.P., Apollo Europe
Management, L.P., Apollo EPF
Management, L.P., Apollo Credit
Opportunity Management III LLC,
Apollo Credit Management II, L.P.,
Apollo Credit Management (CLO), LLC,
Apollo Credit Management II GP, LLC,
Athene Asset Management, L.P., Apollo
Credit Management, LLC (‘‘ACM’’),
Apollo Palmetto Strategic Partnership,
L.P., Apollo Special Opportunities
Managed Account, L.P., Apollo
Investment Europe II, L.P., Apollo
Credit Opportunity Fund III LP, Apollo
Investment Fund VII, L.P., Apollo
Investment Fund VIII, L.P., Apollo
E:\FR\FM\08MRN1.SGM
08MRN1
]]>Agencies
[Federal Register Volume 81, Number 45 (Tuesday, March 8, 2016)]
[Notices]
[Pages 12163-12165]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-05121]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-77281; File No. SR-NYSEArca-2016-37]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of a Proposed Rule Change Amending the Fees
for NYSE Arca Proprietary Market Data as They Apply to Federal Agency
Customers
March 3, 2016.
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 February 26, 2016, NYSE Arca, Inc. (the
``Exchange'' or ``NYSE Arca'') 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.
---------------------------------------------------------------------------
[[Page 12164]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the fees for NYSE Arca proprietary
market data as they apply to Federal agency customers. 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 NYSE Arca Equities Proprietary
Market Data Fee Schedule (``Fee Schedule''), to provide that market
data fees do not apply to any Federal agency for their use of NYSE Arca
real-time proprietary market data products. The term ``Federal agency''
as used in the Fee Schedule would include all Federal agencies subject
to the Federal Acquisition Regulation (FAR),\4\ as well as any Federal
agency not subject to FAR that has promulgated its own procurement
rules.\5\
---------------------------------------------------------------------------
\4\ FAR is the principal set of rules governing the process by
which the U.S. federal government purchases goods and services.
\5\ See 48 CFR 2.101. FAR defines ``Federal agency'' as ``any
executive agency or any independent establishment in the legislative
or judicial branch of the Government (except the Senate, the House
of Representatives, the Architect of the Capitol, and any activities
under the Architect's direction).'' ``Executive agency'' is defined
as ``an executive department, a military department, or any
independent establishment within the meaning of 5 U.S.C. 101, 102,
and 104(1), respectively, and any wholly owned Government
corporation within the meaning of 31 U.S.C. 9101.''
---------------------------------------------------------------------------
The Exchange is proposing to specify that access fees, professional
user fees and non-display fees do not apply to Federal agencies for
those products to which those fees apply.\6\ The proposal is designed
to allow the Exchange to provide Federal agencies with NYSE Arca real-
time proprietary market data products at no cost in support of Federal
agencies' regulatory responsibilities. With the adoption of the
proposed fee waiver, the Exchange is not waiving any of its contractual
rights and all Federal agencies that subscribe to NYSE Arca real-time
proprietary market data products will be required to execute the
appropriate subscriber agreement, which includes, among other things,
provisions against the redistribution of data.
---------------------------------------------------------------------------
\6\ These products are currently NYSE Arca Integrated Feed, NYSE
ArcaBook, NYSE Arca BBO, NYSE Arca Trades and NYSE Arca Order
Imbalances.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\7\ in general, and
Sections 6(b)(4) and 6(b)(5) of the Act,\8\ in particular, in that it
provides an equitable allocation of reasonable fees among users and
recipients of the data and is not designed to permit unfair
discrimination among customers, issuers, and brokers.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 15 U.S.C. 78f(b)(4), (5).
---------------------------------------------------------------------------
The Exchange believes the proposal to eliminate the access fees,
display fees for professional users, and non-display fees associated
with its proprietary market data products for customers that are
Federal agencies is reasonable, equitable and not unfairly
discriminatory because it is designed to facilitate federal government
regulation without giving an undue advantage to one set of commercial
users over another. The Exchange believes that it is reasonable to
assess no fees to Federal agencies that subscribe to the Exchange's
proprietary market data products because Federal agencies do not use
the Exchange's proprietary market data for commercial gain, but only
for regulatory purposes.
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. In setting the proposed
fees, the Exchange considered the competitiveness of the market for
proprietary data and all of the implications of that competition. The
Federal agencies that will benefit from the proposed rule change,
however, do not use the Exchange's proprietary market data products for
commercial purposes and do not compete with commercial users of the
data. The Exchange believes that it has considered all relevant factors
and has not considered irrelevant factors in order to establish fair,
reasonable, and not unreasonably discriminatory fees and an equitable
allocation of fees among all users.
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) \9\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \10\ thereunder, because it establishes a due, fee, or other charge
imposed by the Exchange.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 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) \11\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\11\ 15 U.S.C. 78s(b)(2)(B).
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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-NYSEArca-2016-37 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.
[[Page 12165]]
All submissions should refer to File Number SR-NYSEArca-2016-37. 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 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-NYSEArca-2016-37 and should
be submitted on or before March 29, 2016.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2016-05121 Filed 3-7-16; 8:45 am]
BILLING CODE 8011-01-P
