Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Connectivity Fee Schedule, 61423-61425 [2022-21983]
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Federal Register / Vol. 87, No. 195 / Tuesday, October 11, 2022 / Notices
approved collection of information
discussed below.
Form 20–F (17 CFR 249.220f) is used
to register securities of foreign private
issuers pursuant to Section 12 of the
Securities Exchange Act of 1934
(‘‘Exchange Act’’) (15 U.S.C. 78l) or as
annual and transitional reports pursuant
to Sections 13 and 15(d) of the Exchange
Act (15 U.S.C. 78m(a) and 78o(d)). The
information required in the Form 20–F
is used by investors in making
investment decisions with respect to the
securities of such foreign private
issuers. We estimate that Form 20–F
takes approximately 2,630.17 hours per
response and is filed by approximately
729 respondents. We estimate that 25%
of the 2,630.17 hours per response
(657.542 hours) is prepared by the
issuer for a total reporting burden of
479,348 (657.542 hours per response ×
729 responses).
An agency may conduct or sponsor,
and a person is not required to respond
to, a collection of information unless it
displays a currently valid control
number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice by November 10, 2022 to (i)
www.reginfo.gov/public/do/PRAMain
and (ii) David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov.
Dated: October 4, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022–21954 Filed 10–7–22; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–95969; File No. SR–
NYSEArca–2022–64]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend the
Connectivity Fee Schedule
October 4, 2022.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934
(‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on
September 21, 2022, NYSE Arca, Inc.
(‘‘NYSE Arca’’ 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 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 amend the
Connectivity Fee Schedule related to
colocation to remove obsolete text. The
proposed rule change is available on the
Exchange’s website 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.
khammond on DSKJM1Z7X2PROD with NOTICES
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
Connectivity Fee Schedule related to
colocation to remove Partial Cabinet
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
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61423
Solution bundles Options A and B as
obsolete.4
The Exchange recently deleted the
service ‘‘LCN Access—1 Gb Circuit’’
from the list of types of services
available in colocation, due to the lack
of User demand for 1 Gb LCN ports.5 In
making that change, the Exchange
explained that the number of 1 Gb LCN
ports purchased by Users had steadily
declined from 4 in 2017, to 2 in 2018,
to 1 in 2021, to zero in 2022. The
Exchange understands that this fall-off
in demand for the 1 Gb LCN port is due
to the fact that market data feeds
continue to increase in bandwidth, such
that Users prefer to purchase larger port
sizes. Based on this trend, the Exchange
explained that it believes that there is
no remaining User demand for the 1 Gb
LCN port, and discontinued the service
as obsolete.
The same rationale applies equally to
two of the Exchange’s Partial Cabinet
Solution (‘‘PCS’’) bundles: Options A
and B. Options A and B each include
various bundled services, including,
among other things, a 1 Gb LCN
connection. Although Options A and B
have been offered by the Exchange and
its Affiliate SROs since 2016,6 no Users
ever purchased an Option B bundle, and
only one User purchased an Option A
bundle, which it canceled in July 2021.
There are currently no Users purchasing
either an Option A or B bundle.
Accordingly, the Exchange believes that
there is no remaining User demand for
Options A or B, and proposes to
discontinue them as obsolete.
Application and Impact of the Proposed
Changes
The Exchange does not expect that the
proposed changes would have any
impact. As noted above, there was only
ever one User that purchased either an
Option A or B bundle, and that User
canceled its bundled service over a year
ago, in July 2021. There are currently no
purchasers of either Option A or B
bundles.
The proposed changes would not
have any affect on the two remaining
4 The Exchange is an indirect subsidiary of
Intercontinental Exchange, Inc. (‘‘ICE’’). Each of the
Exchange’s affiliates New York Stock Exchange
LLC, NYSE American LLC, NYSE Chicago, Inc., and
NYSE National, Inc. (the ‘‘Affiliate SROs’’) has
submitted substantially the same proposed rule
change to propose the changes described herein.
See SR–NYSE–2022–45, SR–NYSEAMER–2022–43,
SR–NYSECHX–2022–22, and SR–NYSENAT–2022–
22.
5 See Securities Exchange Act Release No. 95360
(July 25, 2022), 87 FR 45831 (July 29, 2022) (SR–
NYSEArca–2022–41).
6 See, e.g., Securities Exchange Act Release No.
77072 (February 5, 2016), 81 FR 7394 (Feb. 11,
2016) (SR–NYSE–2015–53).
E:\FR\FM\11OCN1.SGM
11OCN1
61424
Federal Register / Vol. 87, No. 195 / Tuesday, October 11, 2022 / Notices
PCS bundles, Options C and D, which
include 10 Gb ports.
In addition, the proposed changes
would not apply differently to distinct
types or sizes of market participants.
Rather, they would apply to all Users 7
equally. As is currently the case, the
purchase of any colocation service is
completely voluntary and the
Connectivity Fee Schedule is applied
uniformly to all Users.
Competitive Environment
The proposed changes are not
otherwise intended to address any other
issues relating to colocation services
and/or related fees, and the Exchange is
not aware of any problems that Users
would have in complying with the
proposed change.
khammond on DSKJM1Z7X2PROD with NOTICES
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,8 in general, and
furthers the objectives of Section 6(b)(5)
of the Act,9 in particular, because 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
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 because it is not
designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers.
The Exchange believes that
discontinuing offering the Option A and
B PCS bundles would perfect the
mechanisms of a free and open market
and a national market system and, in
general, protect investors and the public
interest. There was only ever one User
that purchased either an Option A or B
bundle, and that User canceled its
bundled service over a year ago, in July
2021. There are currently no purchasers
of either Option A or B bundles. The
Exchange does not expect demand for
Options A and B to rebound given
7 For purposes of the Exchange’s colocation
services, a ‘‘User’’ means any market participant
that requests to receive colocation 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 Connectivity Fee Schedule, a
User that incurs colocation fees for a particular
colocation service pursuant thereto would not be
subject to colocation fees for the same colocation
service charged by the Affiliate SROs.
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(5).
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Users’ overall preference for larger port
sizes to accommodate larger market data
feeds. Removing references to the fees
for these obsolete options from the
Connectivity Fee Schedule would make
the Connectivity Fee Schedule easier to
read, understand, and administer.
The Exchange believes that the
proposed rule change does not
significantly affect the protection of
investors or the public interest. The
proposed rule change would delete
obsolete services from the Connectivity
Fee Schedule in order to enhance
transparency and alleviate potential
customer confusion.
The Exchange believes that deleting
obsolete services from the Connectivity
Fee Schedule would not permit unfair
discrimination between customers,
issuers, brokers, or dealers. The
proposed changes would apply equally
to all Users.
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,10 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.
The Exchange believes that the
proposed rule change would not place
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act. The
proposed rule change is not designed to
address any competitive issues but
rather is designed to enhance the clarity
and transparency of the Connectivity
Fee Schedule and alleviate possible
customer confusion that may arise from
the inclusion of obsolete services.
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 Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 11 and Rule
19b–4(f)(6) thereunder.12 Because the
proposed rule change does not: (i)
significantly affect the protection of
10 15
U.S.C. 78f(b)(8).
U.S.C. 78s(b)(3)(A)(iii).
12 17 CFR 240.19b–4(f)(6).
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
prior to 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, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
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) 13 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–
NYSEArca–2022–64 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–NYSEArca–2022–64. 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 website (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
11 15
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Fmt 4703
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13 15
E:\FR\FM\11OCN1.SGM
U.S.C. 78s(b)(2)(B).
11OCN1
Federal Register / Vol. 87, No. 195 / Tuesday, October 11, 2022 / Notices
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 website 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
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–NYSEArca–2022–64 and
should be submitted on or before
November 1, 2022.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022–21983 Filed 10–7–22; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[SEC File No. 270–051, OMB Control No.
3235–0064]
Dated: October 4, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
khammond on DSKJM1Z7X2PROD with NOTICES
Submission for OMB Review;
Comment Request; Extension: Form
10
[FR Doc. 2022–21956 Filed 10–7–22; 8:45 am]
BILLING CODE 8011–01–P
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA
Services, 100 F Street NE,
Washington, DC 20549–2736
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Form 10 (17 CFR 249.210) is used by
issuers to register a class of securities
pursuant to Section 12(b) or Section
12(g) (15 U.S.C. 78l(b) and 78l(g)) of the
Exchange Act of 1934. Form 10 requires
financial and other information about
such matters as the issuer’s business,
properties, identity and remuneration of
management, outstanding securities and
securities to be registered and financial
14 17
CFR 200.30–3(a)(12).
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17:37 Oct 07, 2022
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condition. The information provided by
Form 10 is intended to ensure the
adequacy of information available to
investors about a company. Form 10
takes approximately 215.55 hours per
response to prepare and is filed by
approximately 216 respondents. We
estimate that 25% of the 215.537 hours
per response (53.89 hours) is prepared
by the company for an annual reporting
burden of 11,640 hours (53.89 hours per
response × 216 responses).
An agency may conduct or sponsor,
and a person is not required to respond
to, a collection of information unless it
displays a currently valid control
number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice by November 10, 2022 to (i)
www.reginfo.gov/public/do/PRAMain
and (ii) David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov.
61425
governments or political subdivisions of
foreign governments with securities
listed on a United States exchange. The
information to be collected is intended
to ensure the adequacy and public
availability of information available to
investors. The information provided is
mandatory. Form 18–K is a public
document. We estimate that Form 18–K
takes approximately 8 hours to prepare
and is filed by approximately 38
respondents for a total annual reporting
burden of 304 hours (8 hours per
response × 38 responses).
An agency may conduct or sponsor,
and a person is not required to respond
to, a collection of information unless it
displays a currently valid control
number.
The public may view background
documentation for this information
collection at the following website:
www.reginfo.gov. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice by November 10, 2022 to (i)
www.reginfo.gov/public/do/PRAMain
and (ii) David Bottom, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o John
Pezzullo, 100 F Street NE, Washington,
DC 20549, or by sending an email to:
PRA_Mailbox@sec.gov.
Dated: October 4, 2022.
J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022–21960 Filed 10–7–22; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
BILLING CODE 8011–01–P
[SEC File No. 270–108, OMB Control No.
3235–0120]
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request; Extension: Form
18–K
[Release No. 34–95967; File No. SR–
CboeBZX–2022–038]
Upon Written Request Copies Available
From: Securities and Exchange
Commission, Office of FOIA
Services, 100 F Street NE,
Washington, DC 20549–2736
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget this
request for extension of the previously
approved collection of information
discussed below.
Form 18–K (17 CFR 249.318) is an
annual report form used by foreign
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Self-Regulatory Organizations; Cboe
BZX Exchange, Inc.; Notice of
Designation of a Longer Period for
Commission Action on a Proposed
Rule Change To Amend BZX Rule
11.28(a) To Extend the MOC Cut-Off
Time
October 4, 2022.
On August 5, 2022, Cboe BZX
Exchange, Inc. (‘‘BZX’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’), pursuant to section
19(b)(1) of the Securities Exchange Act
of 1934 (‘‘Act’’) 1 and Rule 19b–4
1 15
E:\FR\FM\11OCN1.SGM
U.S.C. 78s(b)(1).
11OCN1
]]>Agencies
[Federal Register Volume 87, Number 195 (Tuesday, October 11, 2022)]
[Notices]
[Pages 61423-61425]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-21983]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-95969; File No. SR-NYSEArca-2022-64]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Amend the
Connectivity Fee Schedule
October 4, 2022.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on September 21, 2022, NYSE Arca, Inc. (``NYSE Arca'' 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 amend the Connectivity Fee Schedule
related to colocation to remove obsolete text. The proposed rule change
is available on the Exchange's website 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 Connectivity Fee Schedule
related to colocation to remove Partial Cabinet Solution bundles
Options A and B as obsolete.\4\
---------------------------------------------------------------------------
\4\ The Exchange is an indirect subsidiary of Intercontinental
Exchange, Inc. (``ICE''). Each of the Exchange's affiliates New York
Stock Exchange LLC, NYSE American LLC, NYSE Chicago, Inc., and NYSE
National, Inc. (the ``Affiliate SROs'') has submitted substantially
the same proposed rule change to propose the changes described
herein. See SR-NYSE-2022-45, SR-NYSEAMER-2022-43, SR-NYSECHX-2022-
22, and SR-NYSENAT-2022-22.
---------------------------------------------------------------------------
The Exchange recently deleted the service ``LCN Access--1 Gb
Circuit'' from the list of types of services available in colocation,
due to the lack of User demand for 1 Gb LCN ports.\5\ In making that
change, the Exchange explained that the number of 1 Gb LCN ports
purchased by Users had steadily declined from 4 in 2017, to 2 in 2018,
to 1 in 2021, to zero in 2022. The Exchange understands that this fall-
off in demand for the 1 Gb LCN port is due to the fact that market data
feeds continue to increase in bandwidth, such that Users prefer to
purchase larger port sizes. Based on this trend, the Exchange explained
that it believes that there is no remaining User demand for the 1 Gb
LCN port, and discontinued the service as obsolete.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 95360 (July 25,
2022), 87 FR 45831 (July 29, 2022) (SR-NYSEArca-2022-41).
---------------------------------------------------------------------------
The same rationale applies equally to two of the Exchange's Partial
Cabinet Solution (``PCS'') bundles: Options A and B. Options A and B
each include various bundled services, including, among other things, a
1 Gb LCN connection. Although Options A and B have been offered by the
Exchange and its Affiliate SROs since 2016,\6\ no Users ever purchased
an Option B bundle, and only one User purchased an Option A bundle,
which it canceled in July 2021. There are currently no Users purchasing
either an Option A or B bundle. Accordingly, the Exchange believes that
there is no remaining User demand for Options A or B, and proposes to
discontinue them as obsolete.
---------------------------------------------------------------------------
\6\ See, e.g., Securities Exchange Act Release No. 77072
(February 5, 2016), 81 FR 7394 (Feb. 11, 2016) (SR-NYSE-2015-53).
---------------------------------------------------------------------------
Application and Impact of the Proposed Changes
The Exchange does not expect that the proposed changes would have
any impact. As noted above, there was only ever one User that purchased
either an Option A or B bundle, and that User canceled its bundled
service over a year ago, in July 2021. There are currently no
purchasers of either Option A or B bundles.
The proposed changes would not have any affect on the two remaining
[[Page 61424]]
PCS bundles, Options C and D, which include 10 Gb ports.
In addition, the proposed changes would not apply differently to
distinct types or sizes of market participants. Rather, they would
apply to all Users \7\ equally. As is currently the case, the purchase
of any colocation service is completely voluntary and the Connectivity
Fee Schedule is applied uniformly to all Users.
---------------------------------------------------------------------------
\7\ For purposes of the Exchange's colocation services, a
``User'' means any market participant that requests to receive
colocation 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
Connectivity Fee Schedule, a User that incurs colocation fees for a
particular colocation service pursuant thereto would not be subject
to colocation fees for the same colocation service charged by the
Affiliate SROs.
---------------------------------------------------------------------------
Competitive Environment
The proposed changes are not otherwise intended to address any
other issues relating to colocation services and/or related fees, and
the Exchange is not aware of any problems that Users would have in
complying with the proposed change.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\8\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\9\ in particular, because 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 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 because it is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
The Exchange believes that discontinuing offering the Option A and
B PCS bundles would perfect the mechanisms of a free and open market
and a national market system and, in general, protect investors and the
public interest. There was only ever one User that purchased either an
Option A or B bundle, and that User canceled its bundled service over a
year ago, in July 2021. There are currently no purchasers of either
Option A or B bundles. The Exchange does not expect demand for Options
A and B to rebound given Users' overall preference for larger port
sizes to accommodate larger market data feeds. Removing references to
the fees for these obsolete options from the Connectivity Fee Schedule
would make the Connectivity Fee Schedule easier to read, understand,
and administer.
The Exchange believes that the proposed rule change does not
significantly affect the protection of investors or the public
interest. The proposed rule change would delete obsolete services from
the Connectivity Fee Schedule in order to enhance transparency and
alleviate potential customer confusion.
The Exchange believes that deleting obsolete services from the
Connectivity Fee Schedule would not permit unfair discrimination
between customers, issuers, brokers, or dealers. The proposed changes
would apply equally to all Users.
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,\10\ 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.
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\10\ 15 U.S.C. 78f(b)(8).
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The Exchange believes that the proposed rule change would not place
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act. The proposed rule change is not
designed to address any competitive issues but rather is designed to
enhance the clarity and transparency of the Connectivity Fee Schedule
and alleviate possible customer confusion that may arise from the
inclusion of obsolete services.
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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \11\ and Rule 19b-4(f)(6) thereunder.\12\
Because the proposed rule change does not: (i) significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
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, the proposed rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6)(iii) thereunder.
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\11\ 15 U.S.C. 78s(b)(3)(A)(iii).
\12\ 17 CFR 240.19b-4(f)(6).
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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 the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings under
Section 19(b)(2)(B) \13\ of the Act to determine whether the proposed
rule change should be approved or disapproved.
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\13\ 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 [email protected]. Please include
File Number SR-NYSEArca-2022-64 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-NYSEArca-2022-64. 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 website (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
[[Page 61425]]
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 website 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 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-
NYSEArca-2022-64 and should be submitted on or before November 1, 2022.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
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\14\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Deputy Secretary.
[FR Doc. 2022-21983 Filed 10-7-22; 8:45 am]
BILLING CODE 8011-01-P
