SIFMA and NetCoalition Submit Comments to the SEC on Television Distribution of the NYSE MKT Trade Data Product

SIFMA and NetCoalition provide comments to the SEC on a proposed rule change establishing a fee for television distribution of the NYSE MKT Trades Data Product. In the letter the groups petition the SEC to temporarily suspend this rule change under certain provisions of the Exchange Act, citing that NYSE MKT's actions relate to what the SEC refers to as "core" data, and are inconsistent with the findings of the United States Court of Appeals for the District of Columbia Circuit in NetCoalition v. Securities and Exchange Commission. [Steven Lofchie Comment: This is another chapter in the perennial dispute as to who owns trade data, who has the right to profit from its sale, and what data should be free to financial institutions and to the general public.]

View letter in full here(links externally to SIFMA website).Additional Materials: View all SIFMA letters and activity.