Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices 67405 

37 17 CFR 200.30–3(a)(12). 1 15 U.S.C.78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4The Exchange initially filed rule changes 

relating to its co-location services with the 

Commission on May 18, 2018. See Securities 

Exchange Act Release No. 83351 (May 31, 2018), 83 

FR 26314 (June 6, 2018) (SR–NYSENAT–2018–07). 

The Exchange operates a data center in Mahwah, 

New Jersey (the ‘‘data center’’) from which it 

provides co-location services to Users. 

5 Id. 

6For purposes of the Exchange’s co-location 

services, a ‘‘User’’ means any market participant 

that requests to receive co-location services directly 

from the Exchange. See supra note 4 at note 9. As 

specified in the Price List, a User that incurs colocation fees for a particular co-location service 

pursuant thereto would not be subject to co-location 

fees for the same co-location service charged by the 

Exchange’s affiliates NYSE American LLC (‘‘NYSE 

American’’), New York Stock Exchange LLC 

(‘‘NYSE’’), and NYSE Arca, Inc. (‘‘NYSE Arca’’ and, 

together with NYSE American and NYSE, the 

‘‘Affiliate SROs’’). See supra note 4 at note 11. 

7See supra note 4. 

investors, or otherwise in furtherance of 

the purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSEArca–2018–94 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSEArca–2018–94. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–NYSEArca–2018–94 and 

should be submitted on or before 

January 18, 2019. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.37

Brent J. Fields, 

Secretary. 

[FR Doc. 2018–28182 Filed 12–27–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–84895; File No. SR– 

NYSENAT–2018–26] 

Self-Regulatory Organizations; NYSE 

National, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Its Schedule of 

Fees and Rebates To Extend for One 

Year a Fee Discount for the Partial 

Cabinet Solution Bundles Offered in 

Connection With the Exchange’s CoLocation Services 

December 20, 2018. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on December 

12, 2018, NYSE National, Inc. (the 

‘‘Exchange’’ or ‘‘NYSE National’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the selfregulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend its 

Schedule of Fees and Rebates (the 

‘‘Price List’’) to extend for one year a fee 

discount for the Partial Cabinet Solution 

bundles offered in connection with the 

Exchange’s co-location services. The 

proposed rule change is available on the 

Exchange’s website at www.nyse.com, at 

the principal office of the Exchange, and 

at the Commission’s Public Reference 

Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

self-regulatory organization included 

statements concerning the purpose of, 

and basis for, the proposed rule change 

and discussed any comments it received 

on the proposed rule change. The text 

of those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend the 

Exchange’s Fee Schedules to extend a 

fee discount for the Partial Cabinet 

Solution bundles offered in connection 

with the Exchange’s co-location 

services.4 The Exchange offers the four 

Partial Cabinet Solution bundles to 

attract smaller Users, such as those with 

minimal power or cabinet space 

demands, or those for which the 

attendant costs of having a dedicated 

cabinet and related connectivity are too 

burdensome.5

The Exchange offers Users 6 that 

purchase a Partial Cabinet Solution 

bundle on or before December 31, 2018 

a 50% reduction in the monthly 


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67406 Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices 

6For purposes of the Exchange’s co-location 

services, a ‘‘User’’ means any market participant 

that requests to receive co-location services directly 

from the Exchange. See supra note 4 at note 9. As 

specified in the Price List, a User that incurs colocation fees for a particular co-location service 

pursuant thereto would not be subject to co-location 

fees for the same co-location service charged by the 

Exchange’s affiliates NYSE American LLC (‘‘NYSE 

American’’), New York Stock Exchange LLC 

(‘‘NYSE’’), and NYSE Arca, Inc. (‘‘NYSE Arca’’ and, 

together with NYSE American and NYSE, the 

‘‘Affiliate SROs’’). See supra note 4 at note 11. 

7See supra note 4. 

8As is currently the case, Users that receive colocation services from the Exchange will not receive 

any means of access to the Exchange’s trading and 

execution systems that is separate from, or superior 

to, that of other Users. In this regard, all orders sent 

to the Exchange enter the Exchange’s trading and 

execution systems through the same order gateway, 

regardless of whether the sender is co-located in the 

data center or not. In addition, co-located Users do 

not receive any market data or data service product 

that is not available to all Users, although Users that 

receive co-location services normally would expect 

reduced latencies in sending orders to, and 

receiving market data from, the Exchange. 

9See SR–NYSENAT–2018–07, supra note 4 at 

26315. The Exchange’s affiliates have also 

submitted substantially the same proposed rule 

change to propose the changes described herein. 

See SR–NYSEAmer–2018–55 and SR–NYSEArca– 

2018–93, and SR–NYSE–2018–63. 

10 15 U.S.C. 78f(b). 

11 15 U.S.C. 78f(b)(4). 

recurring charges (‘‘MRC’’) for the first 

24 months.7 The Exchange proposes to 

extend the 50% fee reduction to those 

Users that purchase a Partial Cabinet 

Solution bundle on or before December 

31, 2019. The Exchange does not 

propose to amend the length of the 

discount period. 

The amended portions of the Fee 

Schedules would read as follows: 

Type of service Description Amount of charge 

Partial Cabinet Solution bundles ........................

Note: A User and its Affiliates are limited to 

one Partial Cabinet Solution bundle at a time. 

A User and its Affiliates must have an Aggregate Cabinet Footprint of 2 kW or less to 

qualify for a Partial Cabinet Solution bundle. 

See Note 2 under ‘‘General Notes.’’ 

Option A: 1 kW partial cabinet, 1 LCN connection (1 Gb), 1 IP network connection (1 

Gb), 2 fiber cross connections and either 

the Network Time Protocol Feed or Precision Timing Protocol.

$7,500 initial charge per bundle plus monthly 

charge per bundle as follows: 

• For Users that order on or before December 31, 2019: $3,000 monthly for 

first 24 months of service, and $6,000 

monthly thereafter. 

• For Users that order after December 

31, 2019: $6,000 monthly. 

Option B: 2 kW partial cabinet, 1 LCN connection (1 Gb), 1 IP network connection (1 

Gb), 2 fiber cross connections and either 

the Network Time Protocol Feed or Precision Timing Protocol.

$7,500 initial charge per bundle plus monthly 

charge per bundle as follows: 

• For Users that order on or before December 31, 2019: $3,500 monthly for 

first 24 months of service, and $7,000 

monthly thereafter. 

• For Users that order after December 

31, 2019: $7,000 monthly. 

Option C: 1 kW partial cabinet, 1 LCN connection (10 Gb), 1 IP network connection 

(10 Gb), 2 fiber cross connections and either the Network Time Protocol Feed or 

Precision Timing Protocol.

$10,000 initial charge per bundle plus monthly 

charge per bundle as follows: 

• For Users that order on or before December 31, 2019: $7,000 monthly for 

first 24 months of service, and $14,000 

monthly thereafter. 

• For Users that order after December 

31, 2019: $14,000 monthly. 

Option D: 2 kW partial cabinet, 1 LCN connection (10 Gb), 1 IP network connection 

(10 Gb), 2 fiber cross connections and either the Network Time Protocol Feed or 

Precision Timing Protocol.

$10,000 initial charge per bundle plus monthly 

charge per bundle as follows: 

• For Users that order on or before December 31, 2019: $7,500 monthly for 

first 24 months of service, and $15,000 

monthly thereafter. 

• For Users that order after December 

31, 2019: $15,000 monthly. 

As is the case with all Exchange colocation arrangements, (i) neither a User 

nor any of the User’s customers would 

be permitted to submit orders directly to 

the Exchange unless such User or 

customer is a member organization, a 

Sponsored Participant or an agent 

thereof (e.g., a service bureau providing 

order entry services); (ii) use of the colocation services proposed herein would 

be completely voluntary and available 

to all Users on a non-discriminatory 

basis; 8 and (iii) a User would only incur 

one charge for the particular co-location 

service described herein, regardless of 

whether the User connects only to the 

Exchange or to the Exchange and one or 

both of its affiliates.9

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with Section 6(b) 

of the Act,10 in general, and furthers the 

objectives of Sections 6(b)(4) 11 and 

6(b)(5) 12 of the Act, in particular. The 

proposal is consistent with Section 

6(b)(4) of the Act because it provides for 

the equitable allocation of reasonable 

dues, fees, and other charges among its 

members, issuers and other persons 

using its facilities and does not unfairly 

discriminate between customers, 

issuers, brokers or dealers. The Proposal 

is also consistent with Section 6(b)(5) of 

the Act because it is designed to 

promote just and equitable principles of 

trade, remove impediments to, and 

perfect the mechanisms of, a free and 

open market and a national market 

system and is not designed to permit 

unfair discrimination between 

customers, issuers, brokers, or dealers. 

The Exchange believes that the 

proposal provides for the equitable 

allocation of reasonable dues, fees, and 

other charges because it would extend 

the existing eligibility for a 50% MRC 

reduction for another year, providing 

smaller Users with minimal power or 

cabinet space demands with additional 

time to purchase a Partial Cabinet 

Solution at a discounted rate. The 

Exchange believes that it is reasonable 

to continue to offer the fee reduction as 

an incentive to Users to utilize the 

service, including both new and past 


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Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices 67407 

12 15 U.S.C. 78f(b)(5). 

14 15 U.S.C. 78s(b)(3)(A). 

15 17 CFR 240.19b–4(f)(2). 

16 15 U.S.C. 78s(b)(2)(B). 

Users. As is currently the case, the 

purchase of any colocation service 

(including Partial Cabinet Solution 

bundles) is completely voluntary. All 

Users that order a bundle on or before 

December 31, 2019 would have their 

MRC reduced by 50% for the first 24 

months. 

The proposal would remove 

impediments to, and perfects the 

mechanisms of, a free and open market 

and a national market system because 

extending the 50% MRC reduction 

would continue to make it more cost 

effective for Users to utilize co-location 

by offering a cost effective, convenient 

way to create a colocation environment, 

through the choice of four Partial 

Cabinet Solution bundles with different 

cabinet footprints and network 

connections options. As mentioned 

above, the Exchange expects that such 

Users would include those with 

minimal power or cabinet space 

demands and Users for which the costs 

attendant with having a dedicated 

cabinet or greater network connection 

bandwidth are too burdensome. 

The proposal would not unfairly 

discriminate between customers, 

issuers, brokers or dealers because it 

would apply to all Users equally. The 

Exchange would continue to offer the 

same four different Partial Cabinet 

Solution bundles with different cabinet 

footprints and network connections 

options. Users that require other sizes or 

combinations of cabinets, network 

connections and cross connects could 

still request them. 

For the reasons above, the proposed 

changes do not unfairly discriminate 

between or among market participants 

that are otherwise capable of satisfying 

any applicable co-location fees, 

requirements, terms and conditions 

established from time to time by the 

Exchange. 

Finally, the Exchange believes that it 

is subject to significant competitive 

forces, as described below in the 

Exchange’s statement regarding the 

burden on competition. 

For these reasons, the Exchange 

believes that the proposal is consistent 

with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule changes will not 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of Section 

6(b)(8) of the Act.13 The proposal 

changes will enhance competition by 

continuing to offer cost effective options 

for Users to create a colocation 

environment through four Partial 

Cabinet Solution bundles. Partial 

Cabinet Solution bundles allow Users to 

select their desired cabinet footprint and 

network connections at a reduced MRC 

for the first 24 months. Such Users may 

choose, in turn, to pass on such cost 

savings to their customers. In addition 

to the proposed services being 

completely voluntary, they are available 

to all Users on an equal basis (i.e., the 

same products and services are available 

to all Users, and the extension of the 

50% reduction for the MRC for the 

Partial Cabinet Solution bundles, would 

apply to all Users). 

The Exchange operates in a highly 

competitive market in which exchanges 

offer co-location services as a means to 

facilitate the trading and other market 

activities of those market participants 

who believe that co-location enhances 

the efficiency of their operations. 

Accordingly, fees charged for colocation services are constrained by the 

active competition for the order flow of, 

and other business from, such market 

participants. If a particular exchange 

charges excessive fees for co-location 

services, affected market participants 

will opt to terminate their co-location 

arrangements with that exchange, and 

adopt a possible range of alternative 

strategies, including placing their 

servers in a physically proximate 

location outside the exchange’s data 

center (which could be a competing 

exchange), or pursuing strategies less 

dependent upon the lower exchange-toparticipant latency associated with colocation. Accordingly, the exchange 

charging excessive fees would stand to 

lose not only co-location revenues but 

also the liquidity of the formerly colocated trading firms, which could have 

additional follow-on effects on the 

market share and revenue of the affected 

exchange. In such an environment, the 

Exchange must continually review, and 

consider adjusting, its services and 

related fees and credits to remain 

competitive with other exchanges. 

For the reasons described above, the 

Exchange believes that the proposed 

rule changes reflect this competitive 

environment. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 14 of the Act and 

subparagraph (f)(2) of Rule 19b–4 15

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

Exchange. 

At any time within 60 days of the 

filing of such proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. If the 

Commission takes such action, the 

Commission shall institute proceedings 

under Section 19(b)(2)(B) 16 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

NYSENAT–2018–26 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSENAT–2018–26. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 


amozie on DSK3GDR082PROD with NOTICES1
67408 Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices 

17 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change; 

the Commission does not edit personal 

identifying information from 

submissions. Persons submitting 

comments are cautioned that we do not 

redact or edit personal identifying 

information from comment submissions. 

You should submit only information 

that you wish to make available 

publicly. All submissions should refer 

to File Number SR–NYSENAT–2018–26 

and should be submitted on or before 

January 18, 2019. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Brent J. Fields, 

Secretary. 

[FR Doc. 2018–28192 Filed 12–27–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon Written Request Copies Available 

From: Securities and Exchange 

Commission, Office of FOIA Services, 

100 F Street NE, Washington, DC 

20549–2736 

Extension: 

Rules 6a–1 and 6a–2, Form 1, SEC File No. 

270–0017, OMB Control No. 3235–0017 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(‘‘PRA’’) (44 U.S.C. 3501 et seq.), the 

Securities and Exchange Commission 

(‘‘Commission’’) is soliciting comments 

on the existing collection of information 

provided for in Rule 6a–1 (17 CFR 

240.6a–1), Rule 6a–2 (17 CFR 240.6a–2), 

and Form 1 (17 CFR 249.1) under the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’) (15 U.S.C. 78a et seq.). 

The Commission plans to submit this 

existing collection of information to the 

Office of Management and Budget 

(‘‘OMB’’) for extension and approval. 

The Exchange Act sets forth a 

regulatory scheme for national securities 

exchanges. Rule 6a–1 under the 

Exchange Act generally requires an 

applicant for initial registration as a 

national securities exchange to file an 

application with the Commission on 

Form 1. An exchange that seeks an 

exemption from registration based on 

limited trading volume also must apply 

for such exemption on Form 1. Rule 6a– 

2 under the Exchange Act requires 

registered and exempt exchanges: (1) To 

amend the Form 1 if there are any 

material changes to the information 

provided in the initial Form 1; and (2) 

to submit periodic updates of certain 

information provided in the initial Form 

1, whether such information has 

changed or not. The information 

required pursuant to Rules 6a–1 and 6a– 

2 is necessary to enable the Commission 

to maintain accurate files regarding the 

exchange and to exercise its statutory 

oversight functions. Without the 

information submitted pursuant to Rule 

6a–1 on Form 1, the Commission would 

not be able to determine whether the 

respondent has met the criteria for 

registration (or an exemption from 

registration) set forth in Section 6 of the 

Exchange Act. The amendments and 

periodic updates of information 

submitted pursuant to Rule 6a–2 are 

necessary to assist the Commission in 

determining whether a national 

securities exchange or exempt exchange 

is continuing to operate in compliance 

with the Exchange Act. 

Initial filings on Form 1 by 

prospective exchanges are made on a 

one-time basis. The Commission 

estimates that it will receive 

approximately one initial Form 1 filing 

per year and that each respondent 

would incur an average burden of 880 

hours to file an initial Form 1 at an 

average internal compliance cost per 

response of approximately $335,984. 

Therefore, the Commission estimates 

that the annual burden for all 

respondents to file the initial Form 1 

would be 880 hours (one response/ 

respondent × one respondent × 880 

hours/response) and an internal 

compliance cost of $335,984 (one 

response/respondent × one respondent x 

$335,984/response). 

There currently are 21 entities 

registered as national securities 

exchanges. The Commission estimates 

that each registered or exempt exchange 

files nine amendments or periodic 

updates to Form 1 per year, incurring an 

average burden of 25 hours to comply 

with Rule 6a–2. The SEC estimates that 

the average internal compliance cost for 

a national securities exchange per 

response would be approximately 

$8,365. The Commission estimates that 

the annual burden for all respondents to 

file amendments and periodic updates 

to the Form 1 pursuant to Rule 6a–2 is 

4,725 hours (21 respondents × 25 hours/ 

response × 9 responses/respondent per 

year) and an internal compliance cost of 

$1,580,985 (21 respondents × $8,365/ 

response × 9 responses/respondent per 

year). 

Written comments are invited on: (a) 

Whether the proposed collection of 

information is necessary for the proper 

performance of the functions of the 

Commission, including whether the 

information shall have practical utility; 

(b) the accuracy of the Commission’s 

estimates of the burden of the proposed 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information collected; and (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology. 

Consideration will be given to 

comments and suggestions submitted in 

writing within 60 days of this 

publication. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

under the PRA unless it displays a 

currently valid OMB control number. 

Please direct your written comments 

to: Charles Riddle, Acting Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Candace 

Kenner, 100 F Street NE, Washington, 

DC 20549, or send an email to: PRA_

Mailbox@sec.gov. 

Dated: December 21, 2018. 

Brent J. Fields, 

Secretary. 

[FR Doc. 2018–28316 Filed 12–27–18; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–84901; File No. SR–FINRA– 

2018–042] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend FINRA Rules 

7610A and 7620A To Modify Certain 

Fees and Credits Applicable to FINRA/ 

Nasdaq TRF Retail Participants 

December 20, 2018. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on December 


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