[Federal Register Volume 86, Number 205 (Wednesday, October 27, 2021)]
[Notices]
[Pages 59443-59445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-23344]


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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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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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 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.

[[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.
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    \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).
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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.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(4) and (5).
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    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.
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    \8\ 15 U.S.C. 78f(b)(8).
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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.
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    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 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 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 (http://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include 
File Number SR-NYSE-2021-62 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-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\
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    \12\ 17 CFR 200.30-3(a)(12).
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J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2021-23344 Filed 10-26-21; 8:45 am]
BILLING CODE 8011-01-P


