SIFMA Petitions and Petitions and Petitions and Petitions the SEC to Disapprove the NYSE's New Fees

SIFMA submitted the attached comments and a petition for disapproval to the SEC on the following proposed rules: (i) Proposed Rule Change Establishing the NYSE Trades Digital Media Data Feed and a Schedule of the NYSE Proprietary Market Data Fees (Release No. 34-69272), (ii) Proposed Rule Change to Establish Certain Fees for the NYSE Trades and NYSE Realtime Reference Prices Market Data Products (Release No. 34-69298), (iii) Proposed Rule Change Establishing Certain Fees for the NYSE MKT Trades and NYSE MKT Realtime Reference Prices Market Data Products (Release No. 34-69300), (iv) Proposed Rule Change Proposing to Establish the NYSE MKT Trades Digital Media Data Feed and a Schedule of the NYSE MKT Equities Proprietary Market Data Fees (Release No. 34-69273), (v) NYSE's Proposed Rule Change to Establish Non-Display Usage Fees for NYSE OpenBook, NYSE Trades, and NYSE BBO and a Redistribution Fee for NYSE OpenBook (Release No. 34-69278) and (vi) NYSE's Immediately Effective Proposed Rule Change Implementing Certain Fees for NYSE MKT OpenBook, NYSE MKT Trades, and NYSE MKT BBO (Release No. 34-69285).

SIFMA asserts that the NYSE's actions are inconsistent with the decision of the United States Court of Appeals for the District of Columbia Circuit in NetCoalition v. SEC. SIFMA recommends that the SEC temporarily suspend this rule change under Exchange Act Section 19(b)(3)(C), and institute proceedings to disapprove the rule changes under Section 19(b)(2)(B).

Click here and here and here and here to view letters in full (links externally to SIFMA website).Related News Item: SIFMA Submits Comments and a Petition for Disapproval to the SEC on a Proposal to Extend Fee Pilot Program for NASDAQ Last Sale (April 25, 2013).