Notice2021-23344
Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Proprietary Market Data Fee Schedule
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
October 27, 2021
Issuing agencies
Securities and Exchange Commission
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 205 (Wednesday, October 27, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 205 (Wednesday, October 27, 2021)]
[Notices]
[Pages 59443-59445]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-23344]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-93399; File No. SR-NYSE-2021-62]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend the NYSE Proprietary Market Data Fee Schedule
October 21, 2021.
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 14, 2021, New York Stock Exchange LLC (``NYSE''
or the ``Exchange'') filed with the Securities and Exchange Commission
(the ``Commission'') the proposed rule change as described in Items I,
II, and III below, which Items have been prepared by the self-
regulatory organization. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the NYSE Proprietary Market Data Fee
Schedule (``Market Data Fee Schedule'') to delete reference to the NYSE
Alerts market data product and associated fees from the Market Data Fee
Schedule effective immediately. The proposed rule change is available
on the Exchange's website at <a href="http://www.nyse.com">www.nyse.com</a>, 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.
[[Page 59444]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend the Market Data Fee Schedule to
delete reference to the NYSE Alerts market data product and associated
fees from the Market Data Fee Schedule effective immediately.
In 2004, pursuant to Securities and Exchange Commission approval,
the Exchange adopted the NYSE Alerts market data product.\4\ In 2019,
the Exchange discontinued offering the NYSE Alerts market data
product.\5\ As a result, reference on the Market Data Fee Schedule to
the NYSE Alerts market data product and fees associated with the NYSE
Alerts market data product have both become obsolete. Therefore, the
Exchange proposes to remove reference to NYSE Alerts and fees
associated with NYSE Alerts from the Market Data Fee Schedule. The
proposed rule change is intended to streamline the Market Data Fee
Schedule by eliminating obsolete rule text.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 50844 (Dec. 13,
2004), 69 FR 76806 (Dec. 22, 2004) (SR-NYSE-2004-53) (Order Granting
Approval to Proposed Rule Change and Amendment Nos. 1 and 2 Relating
to a Fee for the NYSE Alerts Datafeed); see also Securities Exchange
Act Release No. 50639 (November 5, 2004), 69 FR 65488 (November 12,
2004) (Notice of Filing of Proposed Rule Change and Amendment Nos. 1
and 2 by New York Stock Exchange, Inc. Relating to a Fee for the
NYSE Alerts Datafeed). In 2016, the Exchange adopted a multiple data
feed fee for NYSE Alerts. See Securities Exchange Act Release No.
76972 (Jan. 26, 2016), 81 FR 5143 (Feb. 1, 2016) (SR-NYSE-2016-08)
(Notice of Filing and Immediate Effectiveness of a Proposed Rule
Change Amending the Fees for NYSE Order Imbalances and NYSE Alerts).
\5\ See Securities Exchange Act Release No. 86492 (Jul. 26,
2019), 84 FR 37702 (Aug. 1, 2019) (SR-NYSE-2019-42) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To
Discontinue the NYSE Alerts Market Data Product Offering).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\6\ in general, and furthers the
objectives of Sections 6(b)(4) and (5) of the Act,\7\ in particular,
because it provides for the equitable allocation of reasonable dues,
fees, and other charges among its members, issuers and other persons
using its facilities and does not unfairly discriminate between
customers, issuers, brokers or dealers.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------
The Exchange believes that the proposed rule change would remove
impediments to and perfect the mechanism of a free and open market and
a national market system because it would eliminate rule text that is
now obsolete, thereby improving the clarity of the Exchange's rules and
enabling market participants to more easily navigate the Market Data
Fee Schedule. The Exchange also believes that the proposed change would
protect investors and the public interest because the deletion of
obsolete text would make the Market Data Fee Schedule more accessible
and transparent and facilitate market participants' understanding of
the fees charged for services currently offered by the Exchange. The
Exchange believes the proposed rule change is reasonable because it
would streamline the Market Data Fee Schedule by deleting obsolete rule
text. The Exchange believes deleting obsolete rule text would promote
clarity to the Fee Schedule and reduce confusion to market participants
as to which fees are applicable to them.
The Exchange believes deleting obsolete rule text would also
simplify the Market Data Fee Schedule. The Exchange believes that
deleting obsolete rule text from the Market Data Fee Schedule is
equitable and not unfairly discriminatory because the resulting
streamlined Market Data Fee Schedule would continue to apply to all
market participants as it does currently because the Exchange is not
adopting any new fees or removing any current fees from the Market Data
Fee Schedule. All market participants would continue to be subject to
the same fees that currently apply to them.
For the foregoing 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,\8\ the Exchange
believes that the proposed rule change would not impose any burden on
competition that is not necessary or appropriate in furtherance of the
purposes of the Act. Instead, as discussed above, the proposal relates
solely to elimination of obsolete fees and, as such, would not have any
impact on intra- or inter-market competition because the proposed
change is solely designed to accurately reflect the services that the
Exchange currently offers, thereby adding clarity to the Market Data
Fee Schedule.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b)(8).
---------------------------------------------------------------------------
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
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.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------
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
<bullet> Use the Commission's internet comment form (<a href="http://www.sec.gov/rules/sro.shtml">http://www.sec.gov/rules/sro.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#2a585f464f07494547474f445e596a594f49044d455c"><span class="__cf_email__" data-cfemail="3240475e571f515d5f5f575c4641724157511c555d44">[email protected]</span></a>. Please include
File Number SR-NYSE-2021-62 on the subject line.
Paper Comments
<bullet> 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-2021-62. 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 (http://www.sec.gov/
[[Page 59445]]
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 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-NYSE-2021-62 and should be
submitted on or before November 17, 2021.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-23344 Filed 10-26-21; 8:45 am]
BILLING CODE 8011-01-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on October 27, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.