Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Certain of Its Listing Fees, 52345-52347 [2017-24440]
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Federal Register / Vol. 82, No. 217 / Monday, November 13, 2017 / Notices
and facilitating transactions in
securities, to remove impediments to,
and perfect the mechanisms of, a free
and open market and a national market
system and, in general, to protect
investors and the public interest.
The non-substantive change proposed
is intended solely to reflect the name
change of ‘‘NYSE Global Index’’ to ‘‘ICE
Data Global Index.’’ The proposed rule
change, therefore would remove
impediments to, and perfect the
mechanisms of, a free and open market
and a national market system and, in
general, protect investors and the public
interest because it would update the
Price List to reflect the name change,
increasing the clarity and transparency
of the Exchange’s rules.
For the reasons above, the proposed
changes would not unfairly discriminate
between or among market participants
that are otherwise capable of satisfying
any applicable co-location fees,
requirements, terms and conditions
established from time to time by the
Exchange.
For these reasons, the Exchange
believes that the proposal is consistent
with the Act.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
In accordance with Section 6(b)(8) of
the Act,12 the Exchange believes that the
proposed rule change will not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act because it is
solely intended to reflect the name
change of ‘‘NYSE Global Index’’ to ‘‘ICE
Data Global Index.’’ No other change is
proposed.
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.
asabaliauskas on DSKBBXCHB2PROD with NOTICES
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) 13 of the Act and
subparagraph (f)(2) of Rule 19b–4 14
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
12 15
U.S.C. 78f(b)(8).
U.S.C. 78s(b)(3)(A).
14 17 CFR 240.19b–4(f)(2).
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) 15 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
NYSE–2017–55 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.
All submissions should refer to File
Number SR–NYSE–2017–55. 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.
Persons submitting comments are
13 15
VerDate Sep<11>2014
18:38 Nov 09, 2017
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
submissions should refer to File
Number SR–NYSE–2017–55 and should
be submitted on or before December 4,
2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–24438 Filed 11–9–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82020; File No. SR–NYSE–
2017–56]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Amend
Certain of Its Listing Fees
November 6, 2017.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
30, 2017, New York Stock Exchange
LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
certain of its listing fees. 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
16 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
15 15
Jkt 244001
PO 00000
U.S.C. 78s(b)(2)(B).
Frm 00082
Fmt 4703
Sfmt 4703
52345
E:\FR\FM\13NON1.SGM
13NON1
52346
Federal Register / Vol. 82, No. 217 / Monday, November 13, 2017 / Notices
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 DSKBBXCHB2PROD with NOTICES
1. Purpose
The Exchange proposes to amend
Chapter Nine of the Manual to amend
certain of its listing fee provisions. The
amended fees will take effect in the
2018 calendar year. The following are
the proposed fee increases:
• For certain listed securities, the per
share fee would increase from $0.00105
per share to $0.00108.3
• The minimum annual fee
applicable to the primary class of
common shares (including Equity
Investment Tracking Stock) or the
primary class of preferred stock (if no
class of common shares is listed) listed
under Section 703.05 [sic] would
increase from $59,500 to $65,000.
• The minimum annual fee
applicable to structured products listed
under Section 703.19 [sic] would
increase from $20,000 to $25,000.
• The initial and annual listing fees
for debt listed under Section 102.03 and
103.05 of NYSE equity issuers and
affiliated companies would each
increase from $20,000 to $25,000.
• The initial and annual listing fees
for debt listed under Section 102.03 and
103.05 of companies other than NYSE
equity issuers and affiliated companies
would increase from $40,000 to
$45,000.4
• The initial and annual listing fees
for securities (including short-term
securities) that list under the debt
standard in Section 703.19 and trade on
NYSE Bonds would increase from
$20,000 to $25,000.
As described below, the Exchange
proposes to make the aforementioned
fee increases to better reflect the
Exchange’s costs related to listing the
above-referenced types of securities and
3 The affected securities are as follows: Primary
class of common shares (including Equity
Investment Tracking Stock); each additional class of
common shares (including tracking stock); primary
class of preferred stock (if no class of common
shares is listed); each additional class of preferred
stock (whether primary class is common stock or
preferred stock); each class of warrants; structured
products listed under Section 703.19 [sic]; and
short term securities.
4 Domestic debt of issuers not subject to
registration under the Act is exempt from all listing
fees.
VerDate Sep<11>2014
18:38 Nov 09, 2017
Jkt 244001
the corresponding value of such listing
to issuers.
The Exchange also proposes to
remove a number of references
throughout Chapter Nine to (i) fees that
are no longer applicable as they were
superseded by new fee rates specified in
the rule text and (ii) effectiveness dates
of revised fee levels with respect to
which the effective date has now
passed.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,5 in general, and
furthers the objectives of Section
6(b)(4) 6 of the Act, in particular, in that
it is designed to provide for the
equitable allocation of reasonable dues,
fees, and other charges. The Exchange
also believes that the proposed rule
change is consistent with Section 6(b)(5)
of the Act,7 in that it is designed to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
regulating, clearing, settling, processing
information with respect to, and
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 is not designed to
permit unfair discrimination between
customers, issuers, brokers, or dealers.
The Exchange believes that it is
reasonable to amend Chapter Nine of
the Manual to increase the various
listing fees as set forth above. In that
regard, the Exchange notes that it
continues to improve and increase the
services it provides to listed companies.
These improvements include the
continued development and
enhancement of an interactive webbased platform designed to improve
communication between the Exchange
and listed companies, the availability to
listed companies of the Exchange’s new
state-of-the-art conference facilities at 11
Wall Street, and continued development
and content in an investor relations tool
available to all listed companies which
provides companies with information
enabling them to better understand the
trading and ownership of their
securities.
The Exchange believes that the
proposed fee increases are equitably
allocated because the per share fee
increase will be the same for all issuers
on the Exchange. Therefore, the
proposed fee increases will not be
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
7 15 U.S.C. 78f(b)(5).
unfairly discriminatory towards any
individual issuer. The Exchange
believes it is consistent with Section
6(b)(5) of the Act to apply different fees
to bonds of companies that do not have
their equity securities listed on the
NYSE than to companies with NYSElisted equity securities and their
affiliates, as there is a greater regulatory
and administrative burden associated
with listing bonds of companies with
which the Exchange does not otherwise
have a regulatory or listing relationship.
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. The
proposed rule change is designed to
ensure that the fees charged by the
Exchange accurately reflect the services
provided and benefits realized by listed
companies. The market for listing
services is extremely competitive. Each
listing exchange has a different fee
schedule that applies to issuers seeking
to list securities on its exchange. Issuers
have the option to list their securities on
these alternative venues based on the
fees charged and the value provided by
each listing. Because issuers have a
choice to list their securities on a
different national securities exchange,
the Exchange does not believe that the
proposed fee changes impose a burden
on 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
The foregoing rule change is effective
upon filing pursuant to Section
19(b)(3)(A) 8 of the Act and
subparagraph (f)(2) of Rule 19b–4 9
thereunder, because it establishes a due,
fee, or other charge imposed by the
Exchange.
At any time within 60 days of the
filing of such proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
5 15
6 15
PO 00000
Frm 00083
Fmt 4703
8 15
9 17
Sfmt 4703
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
E:\FR\FM\13NON1.SGM
13NON1
Federal Register / Vol. 82, No. 217 / Monday, November 13, 2017 / Notices
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
under Section 19(b)(2)(B) 10 of the Act to
determine whether the proposed rule
change should be approved or
disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
asabaliauskas on DSKBBXCHB2PROD with NOTICES
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–2017–56 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–2017–56. 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 such
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change.
Persons submitting comments are
cautioned that we do not redact or edit
personal identifying information from
comment submissions. You should
submit only information that you wish
to make available publicly. All
10 15
U.S.C. 78s(b)(2)(B).
VerDate Sep<11>2014
18:38 Nov 09, 2017
Jkt 244001
submissions should refer to File
Number SR–NYSE–2017–56, and
should be submitted on or before
December 4, 2017.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017–24440 Filed 11–9–17; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–82016; File No. SR–
NYSEARCA–2017–124]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend the NYSE Arca
Options Fees and Charges Schedule
and the NYSE Arca Equities Fees and
Charges Schedule Relating to CoLocation Services To Reflect the Name
Change of a Third Party Data Feed
November 6, 2017.
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
25, 2017, NYSE Arca, Inc. (‘‘Exchange’’
or ‘‘NYSE Arca’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the self-regulatory
organization. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
NYSE Arca Options Fees and Charges
schedule and the NYSE Arca Equities
Fees and Charges schedule (together, the
‘‘Fee Schedules’’) relating to co-location
services to reflect the name change of a
third party data feed. The Exchange
proposes to implement the proposed
change on November 1, 2017. 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.
11 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
PO 00000
Frm 00084
Fmt 4703
Sfmt 4703
52347
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
Fee Schedules relating to co-location 4
services to reflect the name change of a
third party data feed. The Exchange
proposes to implement the proposed
change on November 1, 2017.
The co-location services that the
Exchange offers Users 5 include
connectivity to third party data feeds
from third party markets and other
content service providers (‘‘Third Party
Data Feeds’’).6 The list of Third Party
Data Feeds is set forth in the Fee
Schedules, and includes the NYSE
Global Index.7
The name of NYSE Global Index is
changing to ‘‘ICE Data Global Index.’’
4 The Exchange initially filed rule changes
relating to its co-location services with the
Commission in 2010. See Securities Exchange Act
Release No. 63275 (November 8, 2010), 75 FR 70048
(November 16, 2010) (SR–NYSEArca–2010–100).
The Exchange operates a data center in Mahwah,
New Jersey (the ‘‘data center’’) from which it
provides co-location services to Users.
5 For purposes of the Exchange’s co-location
services, a ‘‘User’’ means any market participant
that requests to receive co-location services directly
from the Exchange. See Securities Exchange Act
Release No. 76010 (September 29, 2015), 80 FR
60197 (October 5, 2015) (SR–NYSEArca–2015–82).
As specified in the Price List, a User that incurs colocation fees for a particular co-location service
pursuant thereto would not be subject to co-location
fees for the same co-location service charged by the
Exchange’s affiliates New York Stock Exchange LLC
(‘‘NYSE LLC’’) and NYSE American LLC (‘‘NYSE
American’’ and, together with NYSE LLC, the
‘‘Affiliate SROs’’). See Securities Exchange Act
Release No. 70173 (August 13, 2013), 78 FR 50459
(August 19, 2013) (SR–NYSEArca–2013–80).
6 See Securities Exchange Act Release No. 80310
(March 24, 2017), 82 FR 15763 (March 30, 2017)
(SR–NYSEArca–2016–89).
7 The NYSE Global Index feed includes index and
exchange traded product valuations data, with data
drawn from the Exchange, the Affiliate SROS, and
third party exchanges. Because it includes third
party data, the NYSE Global Index feed is
considered a Third Party Data Feed. See id., at
15771.
E:\FR\FM\13NON1.SGM
13NON1
]]>Agencies
[Federal Register Volume 82, Number 217 (Monday, November 13, 2017)]
[Notices]
[Pages 52345-52347]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-24440]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-82020; File No. SR-NYSE-2017-56]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend Certain of Its Listing Fees
November 6, 2017.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on October 30, 2017, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend certain of its listing fees. 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
[[Page 52346]]
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 Chapter Nine of the Manual to amend
certain of its listing fee provisions. The amended fees will take
effect in the 2018 calendar year. The following are the proposed fee
increases:
For certain listed securities, the per share fee would
increase from $0.00105 per share to $0.00108.\3\
---------------------------------------------------------------------------
\3\ The affected securities are as follows: Primary class of
common shares (including Equity Investment Tracking Stock); each
additional class of common shares (including tracking stock);
primary class of preferred stock (if no class of common shares is
listed); each additional class of preferred stock (whether primary
class is common stock or preferred stock); each class of warrants;
structured products listed under Section 703.19 [sic]; and short
term securities.
---------------------------------------------------------------------------
The minimum annual fee applicable to the primary class of
common shares (including Equity Investment Tracking Stock) or the
primary class of preferred stock (if no class of common shares is
listed) listed under Section 703.05 [sic] would increase from $59,500
to $65,000.
The minimum annual fee applicable to structured products
listed under Section 703.19 [sic] would increase from $20,000 to
$25,000.
The initial and annual listing fees for debt listed under
Section 102.03 and 103.05 of NYSE equity issuers and affiliated
companies would each increase from $20,000 to $25,000.
The initial and annual listing fees for debt listed under
Section 102.03 and 103.05 of companies other than NYSE equity issuers
and affiliated companies would increase from $40,000 to $45,000.\4\
---------------------------------------------------------------------------
\4\ Domestic debt of issuers not subject to registration under
the Act is exempt from all listing fees.
---------------------------------------------------------------------------
The initial and annual listing fees for securities
(including short-term securities) that list under the debt standard in
Section 703.19 and trade on NYSE Bonds would increase from $20,000 to
$25,000.
As described below, the Exchange proposes to make the
aforementioned fee increases to better reflect the Exchange's costs
related to listing the above-referenced types of securities and the
corresponding value of such listing to issuers.
The Exchange also proposes to remove a number of references
throughout Chapter Nine to (i) fees that are no longer applicable as
they were superseded by new fee rates specified in the rule text and
(ii) effectiveness dates of revised fee levels with respect to which
the effective date has now passed.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\5\ in general, and furthers the
objectives of Section 6(b)(4) \6\ of the Act, in particular, in that it
is designed to provide for the equitable allocation of reasonable dues,
fees, and other charges. The Exchange also believes that the proposed
rule change is consistent with Section 6(b)(5) of the Act,\7\ in that
it is designed to promote just and equitable principles of trade, to
foster cooperation and coordination with persons engaged in regulating,
clearing, settling, processing information with respect to, and
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 is not designed to permit unfair discrimination between customers,
issuers, brokers, or dealers.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(4).
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that it is reasonable to amend Chapter Nine
of the Manual to increase the various listing fees as set forth above.
In that regard, the Exchange notes that it continues to improve and
increase the services it provides to listed companies. These
improvements include the continued development and enhancement of an
interactive web-based platform designed to improve communication
between the Exchange and listed companies, the availability to listed
companies of the Exchange's new state-of-the-art conference facilities
at 11 Wall Street, and continued development and content in an investor
relations tool available to all listed companies which provides
companies with information enabling them to better understand the
trading and ownership of their securities.
The Exchange believes that the proposed fee increases are equitably
allocated because the per share fee increase will be the same for all
issuers on the Exchange. Therefore, the proposed fee increases will not
be unfairly discriminatory towards any individual issuer. The Exchange
believes it is consistent with Section 6(b)(5) of the Act to apply
different fees to bonds of companies that do not have their equity
securities listed on the NYSE than to companies with NYSE-listed equity
securities and their affiliates, as there is a greater regulatory and
administrative burden associated with listing bonds of companies with
which the Exchange does not otherwise have a regulatory or listing
relationship.
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. The proposed rule change is
designed to ensure that the fees charged by the Exchange accurately
reflect the services provided and benefits realized by listed
companies. The market for listing services is extremely competitive.
Each listing exchange has a different fee schedule that applies to
issuers seeking to list securities on its exchange. Issuers have the
option to list their securities on these alternative venues based on
the fees charged and the value provided by each listing. Because
issuers have a choice to list their securities on a different national
securities exchange, the Exchange does not believe that the proposed
fee changes impose a burden on 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
The foregoing rule change is effective upon filing pursuant to
Section 19(b)(3)(A) \8\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \9\ thereunder, because it establishes a due, fee, or other charge
imposed by the Exchange.
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\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(2).
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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
[[Page 52347]]
the purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings under Section 19(b)(2)(B) \10\
of the Act to determine whether the proposed rule change should be
approved or disapproved.
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\10\ 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-NYSE-2017-56 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-2017-56. 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 such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change. Persons submitting
comments are cautioned that we do not redact or edit personal
identifying information from comment submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSE-2017-56, and should be
submitted on or before December 4, 2017.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-24440 Filed 11-9-17; 8:45 am]
BILLING CODE 8011-01-P
