SIFMA Challenges NYSE Fee Increases

SIFMA submitted comments urging the SEC to disapprove NYSE Arca's two proposals to amend and establish new market data fees.

In the letter, SIFMA asserted that because the NYSE's actions are inconsistent with the decision in NetCoalition v. SEC, the SEC should disapprove the proposed fee increase. That specific rule change, according to SIFMA, is based on invalid grounds and omitted cost data, and otherwise fails "to comport with the Exchange Act as interpreted by the Court. . . ."

See: SIMFA Comment Letter.