12398 Federal Register / Vol. 89, No. 33 / Friday, February 16, 2024 / Notices 

17 15 U.S.C. 78s(b)(3)(A)(iii). 

18 17 CFR 240.19b–4(f)(6). 

19 15 U.S.C. 78s(b)(3)(A). 

20 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 21 15 U.S.C. 78s(b)(2)(B). 

22 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. 

and the MDC and the Exchange believes 

it intends to expand its offering to 

connect to the TR2, underscoring that 

the Exchange could not impose any 

impediments to a third party providing 

wireless connectivity. 

The proposed rule change would 

provide customers the ability to connect 

to a second Canadian data center for the 

same price they currently pay to 

connect to one. All customers would be 

able to choose if they want connections 

to one or both Canadian data centers 

and the size of connection they want. 

The Exchange does not believe that the 

proposed rule change would place any 

customer at a relative disadvantage 

compared to other customers. 

For these reasons, the Exchange 

believes that the proposed rule change 

reflects this competitive environment 

and does not impose any undue burden 

on intermarket competition. 

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 Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 17 and Rule 

19b–4(f)(6) thereunder.18 Because the 

proposed rule change does not: (i) 

significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 19 and Rule 19b–4(f)(6)(iii) 

thereunder.20

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) 21 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 (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSENAT–2024–02 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–2024–02. 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 (https://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 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–NYSENAT–2024–02 and should be 

submitted on or before March 8, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–03222 Filed 2–15–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99522; File No. SR– 

NYSECHX–2024–03] 

Self-Regulatory Organizations; NYSE 

Chicago, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change to Amend the 

Connectivity Fee Schedule 

February 12, 2024. 

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 January 

29, 2024, the NYSE Chicago, Inc. 

(‘‘NYSE Chicago’’ or the ‘‘Exchange’’) 

filed with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

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 the 

Connectivity Fee Schedule to expand 

existing wireless connections between 

the data center in Mahwah, New Jersey 

and Canada. 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 the 

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 


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Federal Register / Vol. 89, No. 33 / Friday, February 16, 2024 / Notices 12399 

4Through its Fixed Income and Data Services 

(‘‘FIDS’’) business, Intercontinental Exchange, Inc. 

(‘‘ICE’’) operates the MDC. The Exchange and its 

affiliates the New York Stock Exchange LLC, NYSE 

American LLC, NYSE Arca, Inc., and NYSE 

National, Inc. (the ‘‘Affiliate SROs’’) are indirect 

subsidiaries of ICE. Each of the Exchange’s Affiliate 

SROs has submitted substantially the same 

proposed rule change to propose the changes 

described herein. See SR–NYSE–2024–05, SR– 

NYSEAMER–2024–07, SR–NYSEArca–2024–11, 

and SR–NYSENAT–2024–02. 

5Although it presently has proprietary use of it, 

FIDS does not own the wireless network that would 

be used to provide the services. The services would 

be provided by FIDS pursuant to an agreement with 

one or more non-ICE entities. 

6See Securities Exchange Act Release No. 90209 

(October 15, 2020), 85 FR 67044 (October 21, 2020) 

(SR–NYSE–2020–05, SR–NYSEAMER–2020–05, 

SR–NYSEArca–2020–08, SR–NYSECHX–2020–02, 

SR–NYSENAT–2020–03, SR–NYSE–2020–11, SR– 

NYSEAMER–2020–10, SR–NYSEArca–2020–15, 

SR–NYSECHX–2020–05, SR–NYSENAT–2020–08). 

7A purchaser would not be required to receive 

the connection in both Markham and TR2 if they 

chose to be present in only one Canadian access 

center. 

8See id. 

9As is currently true for Markham Connections, 

a customer that purchased a new connection would 

have its first month’s MRC waived. As is true now, 

if a customer that had a wireless connection 

purchased a larger or smaller size wireless 

connection to replace it, the customer would not be 

subject to a second initial charge. 

10For example, if a customer had a 5 Mb circuit, 

it would have a 5 Mb connection to Markham and 

a 5 Mb connection to TR2. A customer that chose 

to be at both access centers would receive all data 

that has been sent northbound at both access 

centers. 

11For example, if a customer had a 5 Mb circuit, 

southbound the customer could choose to send 3 

Mb of data from Markham and 2 Mb of data from 

TR2 at one moment, and then 1 Mb of data from 

Markham and 4 Mb of data from TR2 at the next 

moment. 

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 

Connectivity Fee Schedule to expand 

existing wireless connections between 

the data center in Mahwah, New Jersey 

(‘‘MDC’’) 4 and Canada.5

The Exchange expects that the 

proposed rule change would become 

operative no later than March 31, 2024. 

The Exchange will announce the date 

that the proposed services will be 

available through a customer notice. 

Proposed Changes to the Wireless 

Connections 

The Exchange currently offers 

wireless connections between the MDC 

and the access center in the Markham, 

Canada data center (‘‘Markham’’) of 1, 5 

and 10 Mb (the ‘‘Markham 

Connections’’).6 The Exchange 

understands that purchasers may also 

wish to use a wireless bandwidth 

connection to send trading orders and 

relay market data between their 

equipment in the MDC and a data center 

in Toronto, Canada that hosts several 

Canadian exchanges, including Nasdaq 

Canada (‘‘TR2’’). With such a wireless 

connection, purchasers’ wireless 

connections to the Toronto area would 

not be limited to Markham and the 

exchanges located there. However, the 

Exchange is not aware of any wireless 

connection between the MDC and TR2 

that is currently commercially available. 

To that end, the Exchange proposes to 

expand its existing wireless bandwidth 

connections to Markham to include 

connections of the same size to TR2 (the 

‘‘TR2 Connections’’). As a result of the 

proposed expansion, a purchaser’s 

wireless bandwidth connection would 

be between the MDC and both Markham 

and TR2.7

The Exchange proposes to offer this 

expanded service at no additional 

charge. The previously filed 8 initial 

charge and monthly recurring charge 

(‘‘MRC’’) for the Markham Connections 

would now also include the TR2 

Connections as well. Customers 

purchasing the service would not be 

required to connect to both Markham 

and TR2, but if they chose to do so, they 

could connect to both data centers for 

the same fees that currently apply to 

connectivity to Markham only. 

Customers that currently have a 

Markham Connection would not have to 

pay a second initial charge or a second 

MRC in order to expand their Markham 

Connection to include a TR2 

Connection of the same size.9

Under the proposed expanded 

service, northbound and southbound 

wireless services would operate in a 

distinct manner. Data sent northbound 

from the MDC would be transported to 

both Canadian access centers such that 

the same data would be delivered to 

both Markham and TR2. The customer 

would not have two independent 

connections but rather would use a 

single connection to reach both 

Canadian access centers. At each, the 

customer would have access to the total 

Mb of the wireless circuit.10

Southbound, the purchaser could 

choose to send data from one or both of 

the Canadian access centers. The 

purchaser could send data up to the 

total number of Mb of the wireless 

circuit from either access center, so long 

as the combined amount of data that 

reached the MDC did not exceed the 

total Mb of the wireless circuit that the 

customer purchased. The distribution 

would not be static: the number of Mb 

of data from either Canadian access 

center could vary at the customer’s 

discretion.11

In order to implement the proposed 

change, the Exchange proposes to 

amend the table under ‘‘B. Wireless 

Connectivity’’ in the Connectivity Fee 

Schedule as follows (proposed new text 

italicized and proposed deletions in 

brackets): 

Type of service Description Amount of charge 

Wireless Connectionss between Mahwah Data Center and one 

or both of (a) Markham access center and (b) TR2 access 

center.

1 Mb Circuit .... $10,000 per connection initial charge plus monthly charge per 

connection of $6,000. 

Wireless Connections between Mahwah Data Center and one 

or both of (a) Markham access center and (b) TR2 access 

center.

5 Mb Circuit .... $10,000 per connection initial charge plus monthly charge per 

connection of $15,500. 

Wireless Connections between Mahwah Data Center and one 

or both of (a) Markham access center and (b) TR2 access 

center.

10 Mb Circuit .. $10,000 per connection initial charge plus monthly charge per 

connection of $23,000. 

The Exchange also proposes to add 

the following to the Connectivity Fee 

Schedule, following the table under ‘‘B. 

Wireless Connectivity’’ (all text is new): 

Wireless Connectivity Note 

A customer may purchase a Wireless 

Connection between the Mahwah Data Center 


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12See 85 FR 67044, note 6, supra, at 67054. 

13 15 U.S.C. 78f(b). 

14 15 U.S.C. 78f(b)(5). 

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

and one or both of (a) the Markham access 

center and (b) the TR2 access center. If the 

customer chooses to connect to both 

Canadian access centers, the northbound and 

southbound wireless services operate in a 

distinct manner. Northbound, the same data 

is sent to both the Markham and TR2 access 

centers. Southbound, the customer may 

choose the Mb of data it sends from each 

Canadian access center, so long as the 

combined total Mb entering the Mahwah 

Data Center equals no more than the total Mb 

of the wireless circuit. 

Once a customer requested 

connectivity to TR2 as part of the 

expanded service, FIDS would establish 

a wireless connection between TR2 and 

the MDC using the wireless network 

owned by another party. As is currently 

true of the Markham Connections, the 

proposed expanded wireless connection 

would terminate on a pole off the 

grounds of the MDC property.12 Also as 

currently true of the Markham 

Connections, the expanded service 

would not connect directly to the 

Exchange trading and execution 

systems. 

The Exchange proposes to expand its 

existing service because it understands 

that purchasers may also wish to use a 

wireless bandwidth connection to send 

trading orders and relay market data 

between their equipment in the MDC 

and TR2. With such a wireless 

connection, purchasers’ wireless 

connections would not be limited to 

Markham and the exchanges located 

there. 

Customers would have control over 

what data they send over their TR2 

Connection or Markham Connection. 

They may, but are not required to, use 

them to send trading orders to their 

equipment in co-location; relay 

Exchange market data, third party 

market data and public quote feeds from 

securities information processors; send 

risk management, billing, or compliance 

information; or to carry any other 

market information or other data they 

wish to and from their equipment in 

TR2, Markham, and the MDC. The 

Exchange would not, and could not, 

know what data customers sent over the 

connections and would not send or 

receive any data over the connections. 

General 

The proposed changes would apply to 

all customers equally. The proposed 

changes would not apply differently to 

distinct types or sizes of market 

participants. As is currently the case, 

the purchase of any connectivity service 

is completely voluntary and the 

Connectivity Fee Schedule is applied 

uniformly to all customers. 

FIDS has proposed to expand the 

existing service to include the TR2 

Connections at the request of FIDS 

customers. It does not expect that the 

proposed change will result in new 

customers in Markham. 

The proposed changes are not 

otherwise intended to address any other 

issues relating to co-location services 

and/or related fees, and the Exchange is 

not aware of any problems that 

customers would have in complying 

with the proposed change. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,13 in general, and 

furthers the objectives of Section 6(b)(5) 

of the Act,14 in particular, because it is 

designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, to 

remove impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest and because it is not 

designed to permit unfair 

discrimination between customers, 

issuers, brokers, or dealers. The 

Exchange further believes that the 

proposed rule change is consistent with 

Section 6(b)(4) of the Act,15 because it 

provides for the equitable allocation of 

reasonable dues, fees, and other charges 

among its members and issuers and 

other persons using its facilities and 

does not unfairly discriminate between 

customers, issuers, brokers, or dealers. 

The Proposed Change is Reasonable 

The Exchange believes that the 

proposed expansion of the existing 

services is reasonable and would perfect 

the mechanisms of a free and open 

market and a national market system 

and, in general, protect investors and 

the public interest, because it would 

increase the connectivity currently 

offered by allowing customers to 

connect to TR2 as well as Markham for 

no additional charge. Adding this 

additional connection option would 

allow the customer to use a wireless 

bandwidth connection to relay market 

data and send trading orders between 

the MDC and the exchanges and 

alternative trading systems located in 

TR2. The purchaser would be able to 

determine what data to transport 

between the MDC and the two Canadian 

access centers based on what would best 

serve its needs, tailoring the service to 

the requirements of its business 

operations, at no additional cost to 

customers. 

The Exchange further believes that it 

is reasonable and would perfect the 

mechanisms of a free and open market 

and a national market system and, in 

general, protect investors and the public 

interest to expand the connectivity 

options because it would be responsive 

to requests from customers, who have 

asked for the TR2 Connections. 

The Exchange believes that the 

proposed wireless connection between 

MDC and TR2 would be the first 

commercially available wireless 

connection between the two points, 

creating a new connectivity option for 

customers. The Exchange believes that 

creating such a connection would be 

reasonable and would perfect the 

mechanisms of a free and open market 

and a national market system and, in 

general, protect investors and the public 

interest because market participants 

may create their own proprietary or 

commercial wireless connections 

between the two points. The Exchange 

could not impose any impediments to a 

third party seeking to offer a similar 

service, including by placing them at a 

latency or other competitive 

disadvantage with respect to the 

Exchange. 

Because the proposed expanded 

service is designed to offer market 

participants a means to minimize the 

latency of their communications, 

including trading orders, and receipt of 

market data, it will thereby enhance the 

efficiency of their trading strategies on 

the Exchange and elsewhere, and 

because there is no impediment to 

competitors offering similar services, 

the Exchange believes that the proposed 

change is reasonable and would perfect 

the mechanisms of a free and open 

market and a national market system 

and, in general, protect investors and 

the public interest. 

The Exchange also believes that the 

proposed change is reasonable and 

would perfect the mechanisms of a free 

and open market and a national market 

system and, in general, protect investors 

and the public interest because the 

expanded service including TR2 

Connections would be available at the 

currently filed initial charge and MRC 

for the Markham Connections, with no 

additional charge for the expanded 

service. Accordingly, the Exchange 

believes that the proposed change is 

reasonable because the change would 

mean that a customer would receive an 


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Federal Register / Vol. 89, No. 33 / Friday, February 16, 2024 / Notices 12401 

16 15 U.S.C. 78f(b)(8). 

enhanced offering with the option of 

adding connectivity to a second 

Canadian access center for the same 

price that the Exchange currently 

charges for a connection to one 

Canadian access center. Customers that 

currently have a Markham Connection 

would not have to pay a second initial 

charge in order to obtain an expanded 

connection. As is currently true for 

Markham Connections, a customer that 

purchased a new connection would 

have its first month’s MRC waived. 

The Exchange believes that it is 

reasonable that the charge be the same 

whether the purchaser opts to connect 

to one or both Canadian access centers. 

The size of the connection, not the 

number of Canadian access centers it 

leads to, factors into setting the price. 

First, the Exchange believes it is 

reasonable to view the expanded service 

as one service, and not two. Whether a 

purchaser connects to one or both 

Canadian access centers, the 

southbound connection is limited in 

size to the total bandwidth of the 

circuit. At the same time, northbound 

both access centers will receive all data 

sent on the connection. Second, the 

Exchange believes it is reasonable to 

base its cost on the size of the wireless 

bandwidth connection, not the number 

of Canadian access centers it reaches. If 

one customer wishes to use more of the 

wireless connection than its current 

circuit allows, it would need to increase 

the size of its circuit, and so its cost 

would increase. Markham and TR2 are 

geographically close together and both 

are important access centers, so the 

network was designed to connect to 

both locations. Accordingly, it is the 

size of the circuit, not the number of 

Canadian access centers, that matters to 

the Exchange. 

The Exchange believes that it is 

reasonable and would perfect the 

mechanisms of a free and open market 

and a national market system and, in 

general, protect investors and the public 

interest to add the proposed wireless 

connectivity note. The Exchange 

believes that adding such text would 

alleviate any possible customer 

confusion as to how the connections 

between the MDC and Canadian access 

centers would work. In this way, it 

would enhance the clarity and 

transparency of the Connectivity Fee 

Schedule. 

The Proposed Change Is Equitable and 

Not Unfairly Discriminatory 

The Exchange believes that the 

proposed change provides for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

members and issuers and other persons 

using its facilities and does not unfairly 

discriminate between customers, 

issuers, brokers, or dealers because the 

change would mean that a customer 

would receive an expanded service, 

with the option of adding connectivity 

to two Canadian access centers for the 

same price that the Exchange currently 

charges for a connection to one 

Canadian access center. 

Customers that currently have a 

Markham Connection would not have to 

pay a second initial charge in order to 

also obtain a TR2 Connection of the 

same size. As is currently true for 

Markham Connections, a customer that 

purchased a new connection would 

have its first month’s MRC waived. 

Further, the Exchange believes that 

the proposed change is equitable and 

not unfairly discriminatory since, as is 

true now, only customers that 

purchased the proposed service would 

be charged for it. The proposed change 

would not apply differently to distinct 

types or sizes of market participants but 

would apply to all customers equally. 

Moreover, although the Exchange 

proposes to expand the connectivity 

options, a customer that currently has a 

Markham Connection would not be 

obligated to make any changes. As is 

currently the case, the purchase of any 

connectivity service would be 

completely voluntary. 

The Exchange believes that it is 

equitable and not unfairly 

discriminatory that the charge be the 

same whether the purchaser opts to 

connect to one or both Canadian access 

centers. The size of the connection, not 

the number of Canadian access centers 

it leads to, factors into setting the price. 

First, the Exchange believes it is 

equitable and not unfairly 

discriminatory to view the expanded 

service as one service, and not two. 

Whether a purchaser connects to one or 

both Canadian access centers, the 

southbound connection is limited in 

size to the total bandwidth of the 

circuit. At the same time, northbound 

both access centers will receive all data 

sent on the connection. Second, the 

Exchange believes it is equitable and not 

unfairly discriminatory to base its cost 

on the size of the wireless bandwidth 

connection, not the number of Canadian 

access centers it reaches. If one 

customer wishes to use more of the 

wireless connection than its current 

circuit allows, it would need to increase 

the size of its circuit, and so its cost 

would increase. Markham and TR2 are 

geographically close together, and both 

are important access centers, so the 

network was designed to connect to 

both locations. Accordingly, it is the 

size of the circuit, not the number of 

Canadian access centers, that matters to 

the Exchange. 

The Exchange believes that the 

proposed wireless connection between 

MDC and TR2 would be the first 

commercially available wireless 

connection between the two points, 

creating a new connectivity option for 

customers. The Exchange believes that 

creating such a connection would be 

equitable and not unfairly 

discriminatory because market 

participants may create their own 

proprietary or commercial wireless 

connections between the two points. 

The Exchange could not impose any 

impediments to a third party seeking to 

offer a similar service, including by 

placing them at a latency or other 

competitive disadvantage with respect 

to the Exchange. 

The Exchange believes that it is 

equitable and not unfairly 

discriminatory to add the proposed 

wireless connectivity note. The 

Exchange believes that adding such text 

would alleviate any possible customer 

confusion as to how the connections 

between the MDC and Canadian access 

centers would work. In this way, it 

would enhance the clarity and 

transparency of the Connectivity Fee 

Schedule, making it easier to read and 

understand and alleviating possible 

customer confusion for all market 

participants. 

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. 

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 Exchange believes that the 

proposal 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 16

because it is not designed to address any 

competitive issues. The proposed rule 

change would provide customers with a 

wider range of choices for wireless 

connectivity to Canada. 

The Exchange believes the wireless 

connections between MDC and TR2 are 

the first commercially available wireless 

connections between the two points, 

creating a new connectivity option for 

customers. The Exchange believes that 

creating such a connection would not 


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17 15 U.S.C. 78s(b)(3)(A)(iii). 

18 17 CFR 240.19b–4(f)(6). 

19 15 U.S.C. 78s(b)(3)(A). 

20 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. The Exchange 

has satisfied this requirement. 

21 15 U.S.C. 78s(b)(2)(B). 

22 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. 

impose any burden on competition that 

is not necessary or appropriate because 

market participants may create their 

own proprietary or commercial wireless 

connections between the two points. 

The Exchange could not impose any 

impediments to a third party seeking to 

offer a similar service, including by 

placing them at a latency or other 

competitive disadvantage with respect 

to the Exchange. Indeed, a third party 

has announced that it plans to create a 

wireless connection between Markham 

and the MDC and the Exchange believes 

it intends to expand its offering to 

connect to the TR2, underscoring that 

the Exchange could not impose any 

impediments to a third party providing 

wireless connectivity. 

The proposed rule change would 

provide customers the ability to connect 

to a second Canadian data center for the 

same price they currently pay to 

connect to one. All customers would be 

able to choose if they want connections 

to one or both Canadian data centers 

and the size of connection they want. 

The Exchange does not believe that the 

proposed rule change would place any 

customer at a relative disadvantage 

compared to other customers. 

For these reasons, the Exchange 

believes that the proposed rule change 

reflects this competitive environment 

and does not impose any undue burden 

on intermarket competition. 

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 Exchange has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 17 and Rule 

19b–4(f)(6) thereunder.18 Because the 

proposed rule change does not: (i) 

significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; and (iii) become operative 

prior to 30 days from the date on which 

it was filed, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 19 and Rule 19b–4(f)(6)(iii) 

thereunder.20

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) 21 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 (https://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include file number SR– 

NYSECHX–2024–03 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–NYSECHX–2024–03. 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 (https://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 

a.m. and 3 p.m. Copies of the filing also 

will be available for inspection and 

copying at the principal office of the 

Exchange. Do not include personal 

identifiable information in submissions; 

you should submit only information 

that you wish to make available 

publicly. We may redact in part or 

withhold entirely from publication 

submitted material that is obscene or 

subject to copyright protection. All 

submissions should refer to file number 

SR–NYSECHX–2024–03 and should be 

submitted on or before March 8, 2024. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2024–03223 Filed 2–15–24; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–99520; File No. SR–NYSE– 

2024–05] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

Connectivity Fee Schedule 

February 12, 2024. 

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 January 

29, 2024, New York Stock Exchange 

LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the self-regulatory 

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 the 

Connectivity Fee Schedule to expand 

existing wireless connections between 


lotter on DSK11XQN23PROD with NOTICES1