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

The U.S. District Court for the District of Columbia dismissed a suit by Bloomberg L.P. ("Bloomberg") against the CFTC. Bloomberg had alleged that the CFTC's rule, which sets minimum collateral requirements based on estimated liquidation times for swaps and futures contracts, was both procedurally and substantially defective. Bloomberg's concern was that the potential disparity between the estimated minimum liquidation times for swaps and futures contracts, and the fact that these estimates seemed to favor futures, would have a negative impact on Bloomberg's business and customer base

SIFMA, along with the ABA, ABA Securities Association, FIA, IIB, and ISDA submitted comments to the CFTC requesting a six-month extension of the Commission's Final Exemptive Order Regarding Compliance with Certain Swap Regulations. The associations believe an extension would be helpful for the following reasons: First, an extension would provide sufficient time for swap market participants and the CFTC to consider the potential implications of recent SEC proposals relating to its regulation of cross-border security-based swap activities. Second, failing to extend the Exemptive Order without

H.R. 1256 calls for the SEC and the CFTC to work together and harmonize their rules relating to swaps transacted between those in the U.S. and those abroad while ensuring regulators employ a thorough and deliberate process in determining when to apply U.S. swaps rules in foreign markets and to foreign firms. Specifically, this legislation would require joint rules to address: (1) the nature of the connections to the United States that require a non-U.S. person to register as a swap dealer, major swap participant, security-based swap dealer, or security-based swap participant under each

A new SRO rule change has been announced by the SEC. Click on the link below to view the SEC's notice of this rule change. PHLX: Effective Immediately - Rule Change to the Schedule of Fees and Rebates for Execution of Quotes and Orders on NASDAQ OMX PSX