SIFMA Petitions SEC to Disapprove NYSE's New Fees for Options Market Data (with Lofchie Comment)

SIFMA submitted comments (see below) to the SEC petitioning for disapproval of a NYSE MKT proposal and a NYSE Arca proposal to establish non-display usage fees and to amend the professional end-user fees for the NYSE MKT and NYSE Arca Options market data.

SIFMA stated that it strongly believes that the Exchange's actions are inconsistent with the decisions of the United States Court of Appeals for the District of Columbia Circuit in NetCoalition v. SEC and, in its petition, requests that the SEC temporarily suspend the rule change and disapprove the rule change under provisions of the Exchange Act.

Lofchie Comment: There has been a significant pickup in public disputes between broker-dealers and exchanges over exchange fees. See, e.g., "SIFMA Petitions and Petitions and Petitions and Petitions the SEC to Disapprove the NYSE's New Fees."

See: SIFMA's NYSE MKT Options Letter and NYSE Arca Options Letter.