8310 Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 

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

16 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 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. 17 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. 

update and modernize Rule 506 will 

make Rule 506 clearer and easier to use 

to the benefit of market participants. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will result in 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

While the Exchange does not believe 

that the proposed non-controversial 

change is a burden on competition, or 

is competitive in nature, the Exchange 

believes that clearer, updated rules are 

always beneficial to market participants. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A) 15 of the Act and Rule 19b– 

4(f)(6) thereunder 16 in that it effects a 

change that: (i) Does not significantly 

affect the protection of investors or the 

public interest; (ii) does not impose any 

significant burden on competition; and 

(iii) by its terms, does not become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest. 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is: (i) Necessary or appropriate in 

the public interest; (ii) for the protection 

of investors; or (iii) otherwise in 

furtherance of the purposes of the Act. 

If the Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

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 SRPhlx-2016–22 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–Phlx–2016–22. 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 Web site (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 Web site 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 such 

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. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR–Phlx– 

2016–22, and should be submitted on or 

before March 10, 2016. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2016–03274 Filed 2–17–16; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–77110; File No. SR– 

NYSEMKT–2016–23] 

Self-Regulatory Organizations; NYSE 

MKT LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Modifying the Amex 

Options Deep Market Data Product 

February 11, 2016. 

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 February 

4, 2016, NYSE MKT LLC (the 

‘‘Exchange’’ or ‘‘NYSE MKT’’) 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 modify the 

Amex Options Deep market data 

product. The proposed rule change is 

available on the Exchange’s Web site 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 modify the 

Amex Options Deep market data 

product. 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 8311 

4See Rule 900.3NY(e), which defines complex 

orders. 

5See Securities Exchange Act Release No. 68004 

(Oct. 9, 2012), 77 FR 62582 (Oct. 15, 2012) (SR– 

NYSEMKT–2012–49) (establishing fees for certain 

proprietary options market data products). See also 

Securities Exchange Act Release Nos. 69524 (May 

6, 2013), 78 FR 27459 (May 10, 2013) (SR– 

NYSEMKT–2013–35) (establishing a schedule of 

NYSE Amex Options proprietary market data fees); 

69553 (May 10, 2013), 78 FR 28926 (May 16, 2013) 

(SR–NYSEMKT–2013–40) (establishing non-display 

usage fees and amending the professional end-user 

fees); 71934 (April 11, 2014), 79 FR 21818 (April 

17, 2014) (SR–NYSEMKT–2014–30) (amending the 

professional user fees); 73008 (Sept. 5, 2014), 79 FR 

65325 (Sept. 11, 2014) (SR–NYSEMKT–2014–73) 

(amending fees for non-display use); and 73589 

(Nov. 13, 2014), 79 FR 68933 (Nov. 19, 2014) (SR– 

NYSEMKT–2014–94) (establishing fees for the 

complex order book feed); and 76022 (September 

29, 2015), 80 FR 60201 (October 5, 2015) (modifying 

certain proprietary options data products). 

6The OPRA Plan is a national market system plan 

approved by the Securities and Exchange 

Commission (‘‘Commission’’) pursuant to Section 

11A of the Securities Exchange Act of 1934 (the 

‘‘Act’’) and Rule 608 thereunder (formerly Rule 

11Aa3–2). See Securities Exchange Act Release No. 

17638 (March 18, 1981), 22 S.E.C. Docket 484 

(March 31, 1981). The full text of the OPRA Plan 

is available at http://www.opradata.com. The OPRA 

Plan provides for the collection and dissemination 

of last sale and quotation information on options 

that are traded on the participant exchanges. 

Section 5.2(c) of the OPRA Plan also permits OPRA 

Plan participants to disseminate unconsolidated 

market information to certain of their members 

under certain circumstances. The manner in which 

the Exchange proposes to disseminate the products 

would comply with Section 5.2(c) of the OPRA 

Plan, pursuant to which the Exchange may not 

disseminate the products ‘‘on any more timely basis 

than the same information is furnished to the OPRA 

System for inclusion in OPRA’s consolidated 

dissemination of Options Information.’’ 

7The Exchange has not attached an Exhibit 5 

with this proposed rule change because the 

Exchange is not proposing to make any fee changes 

associated with the proposed modification to the 

Amex Options Deep market data product. 

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

9 15 U.S.C. 78f(b)(5). 

The Exchange currently offers the 

following real-time options market data 

feeds: ‘‘Amex Options Top,’’ ‘‘Amex 

Options Deep,’’ and ‘‘Amex Options 

Complex’’ (the ‘‘Amex Options 

Products’’). ‘‘Amex Options Top’’ is a 

single market data product that 

combines last sale data, best bids and 

offers (‘‘BBO’’), order imbalance 

information and series status and 

underlying status messages (collectively 

called security status messages). ‘‘Amex 

Options Deep’’ is also a single market 

data product that provides subscribers 

NYSE Amex Options quotes and orders 

at the first three price levels in each 

series on a real-time basis. ‘‘Amex 

Options Complex,’’ also a single market 

data product, provides subscribers 

NYSE Amex Options quote and trade 

information (including orders/quotes, 

requests for responses, and trades) for 

the complex order book on a real-time 

basis.4

The Exchange charges a single fee for 

Amex Options Top and subscribers of 

Amex Options Top receive all three data 

feeds described above. The Exchange 

charges a separate fee for Amex Options 

Complex for subscribers that seek to 

obtain this data feed on a standalone 

basis.5

The Exchange proposes to modify the 

Amex Options Deep data feed. As 

proposed, Amex Options Deep will also 

include security status messages, the 

same data that is currently provided as 

part of Amex Options Top. The 

proposed modification to the Amex 

Options Deep data feed will allow 

subscribers who currently obtain depth 

of market data to also receive security 

status messages in a single data feed. 

Currently, these subscribers are required 

to process two data feeds to get the 

depth of market data and security status 

information. Offering a data product 

that combines, in one market data 

product, depth of market data and 

security status messages would provide 

greater efficiencies and better 

sequencing for vendors and subscribers 

that currently choose to integrate the 

data after receiving it from the 

Exchange. As with Amex Options Top, 

Amex Options Deep would provide 

depth of market and series status 

information on a real-time basis as 

reported to the Options Price Reporting 

Authority (‘‘OPRA’’) and disseminated 

on a consolidated basis under the OPRA 

Plan.6

The Amex Options Products would 

continue to be distributed in their 

current format, to maintain the format of 

the Amex Options Products with that of 

other market data products offered by 

the Exchange. 

The Exchange does not propose to 

make any changes to the fees. The single 

fee charged for the Amex Options 

Product that comprise [sic] the Amex 

Options Top, Amex Options Deep and 

Amex Options Complex would continue 

to apply. The separate fee that now 

applies to Amex Options Complex, 

would likewise continue to apply to the 

Amex Options Complex market data 

product.7

Each of the Amex Options Products 

would continue to be offered through 

the Exchange’s Liquidity Center 

Network (‘‘LCN’’), a local area network 

in the Exchange’s Mahwah, New Jersey 

data center that is available to users of 

the Exchange’s co-location services. The 

Exchange would also continue to offer 

the products through the Exchange’s 

Secure Financial Transaction 

Infrastructure (‘‘SFTI’’) network, 

through which all other users and 

member organizations access the 

Exchange’s trading and execution 

systems and other proprietary market 

data products. 

The Exchange will announce the date 

that the Amex Options Deep market 

data product will begin to include 

security status messages through a 

NYSE Market Data Notice. 

The proposed change is not intended 

to address any issues other than those 

described herein, and the Exchange is 

not aware of any problems that vendors 

or subscribers would have in complying 

with the proposed change. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 8 of the Act, 

in general, and furthers the objectives of 

Section 6(b)(5) 9 of the Act, in particular, 

in that 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 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 it is not 

designed to permit unfair 

discrimination among customers, 

brokers, or dealers. 

The Exchange also believes this 

proposal is consistent with Section 

6(b)(5) of the Act because it protects 

investors and the public interest and 

promotes just and equitable principles 

of trade by providing investors with 

improved options for receiving market 

data. The proposed rule changes would 

benefit investors by facilitating their 

prompt access to the additional realtime information contained in a 

modified Amex Options Deep market 

data product. 

In particular, the Exchange believes 

that combining depth of market data 

with security status messages in the 

Amex Options Deep product is 

reasonable because it would provide 

greater efficiencies for vendors and 

subscribers that currently choose to 

integrate the data after receiving it from 

the Exchange. In addition, the change to 

the Amex Options Deep product reflects 

the interests and needs of subscribers 

and vendors who will no longer have to 

subscribe to multiple data feeds to 

obtain the information they want. The 

Exchange believes the proposed changes 

are reasonable because they would 

provide vendors and subscribers with 

higher quality market data products. 

In adopting Regulation NMS, the 

Commission granted self-regulatory 

mstockstill on DSK4VPTVN1PROD with NOTICES

8312 Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 

10See Securities Exchange Act Release No. 51808 

(June 9, 2005), 70 FR 37496 (June 29, 2005). 

11 15 U.S.C. 78f(b)(8). 

12 15 U.S.C. 78s(b)(3)(A)(iii). 

13 17 CFR 240.19b–4(f)(6). As required under Rule 

19b–4(f)(6)(iii), the Exchange provided the 

Commission with written notice of its intent to file 

the proposed rule change, along with a brief 

description and the 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. 

14 17 CFR 240.19b–4(f)(6). 

15 17 CFR 240.19b–4(f)(6)(iii). 

16For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. 15 U.S.C. 78c(f). 

17 15 U.S.C. 78s(b)(2)(B). 

organizations and broker-dealers 

increased authority and flexibility to 

offer new and unique market data to 

consumers of such data. It was believed 

that this authority would expand the 

amount of data available to users and 

consumers of such data and also spur 

innovation and competition for the 

provision of market data. The Exchange 

believes that the options data product 

changes proposed herein are precisely 

the sort of market data product 

evolutions that the Commission 

envisioned when it adopted Regulation 

NMS. The Commission concluded that 

Regulation NMS—by lessening 

regulation of the market in proprietary 

data—would itself further the Act’s 

goals of facilitating efficiency and 

competition: 

[E]fficiency is promoted when brokerdealers who do not need the data beyond the 

prices, sizes, market center identifications of 

the NBBO and consolidated last sale 

information are not required to receive (and 

pay for) such data. The Commission also 

believes that efficiency is promoted when 

broker-dealers may choose to receive (and 

pay for) additional market data based on their 

own internal analysis of the need for such 

data.10

By removing ‘‘unnecessary regulatory 

restrictions’’ on the ability of exchanges 

to sell their own data, Regulation NMS 

advanced the goals of the Act and the 

principles reflected in its legislative 

history. 

The Exchange further notes that the 

existence of alternatives to the 

Exchange’s products, including realtime consolidated data, free delayed 

consolidated data, and proprietary data 

from other sources, ensures that the 

Exchange is not unreasonably 

discriminatory because vendors and 

subscribers can elect these alternatives. 

The proposed options data products 

will help to protect a free and open 

market by providing additional data to 

the marketplace and give investors 

greater choices. In addition, the 

proposal would not permit unfair 

discrimination because the products 

will be available to all of the Exchange’s 

customers and broker-dealers through 

both the LCN and SFTI. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

In accordance with Section 6(b)(8) of 

the Act,11 the Exchange does not believe 

that the proposed rule change will 

impose any burden on competition that 

is not necessary or appropriate in 

furtherance of the purposes of the Act. 

The market for proprietary data 

products is currently competitive and 

inherently contestable because there is 

fierce competition for the inputs 

necessary to the creation of proprietary 

data. Numerous exchanges compete 

with each other for listings, trades, and 

market data itself, providing virtually 

limitless opportunities for entrepreneurs 

who wish to produce and distribute 

their own market data. This proprietary 

data is produced by each individual 

exchange, as well as other entities (such 

as internalizing broker-dealers and 

various forms of alternative trading 

systems, including dark pools and 

electronic communication networks), in 

a vigorously competitive market. It is 

common for market participants to 

further and exploit this competition by 

sending their order flow and transaction 

reports to multiple markets, rather than 

providing them all to a single market. 

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 12 and Rule 

19b–4(f)(6) thereunder.13 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 and Rule 19b–4(f)(6)(iii) 

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 14 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b4(f)(6)(iii),15 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has asked the Commission to 

waive the 30-day operative delay so that 

the proposal may become operative 

immediately upon filing. The 

Commission believes that waiver of the 

operative delay is consistent with 

investor protection and the public 

interest because the proposal would 

allow the Exchange to offer currently 

available market data in a streamlined 

format that would enhance the quality 

of market data available to investors and 

would enable investors to better monitor 

trading activity on the Exchange. 

Accordingly, the Commission hereby 

waives the 30-day operative delay and 

designates the proposal operative upon 

filing.16

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) 17 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– 

NYSEMKT–2016–23 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Brent J. Fields, Secretary, Securities 

and Exchange Commission, 100 F Street 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSEMKT–2016–23. 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 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 81, No. 32 / Thursday, February 18, 2016 / Notices 8313 

18 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 

Securities and Exchange Commission 

(‘‘Commission’’) in 2010. See Securities Exchange 

Act Release No. 62960 (September 21, 2010), 75 FR 

59310 (September 27, 2010) (SR–NYSE–2010–56). 

The Exchange operates a data center in Mahwah, 

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

provides co-location services to Users. 

5For 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 Securities Exchange Act 

Release No. 76008 (September 29, 2015), 80 FR 

60190 (October 5, 2015) (SR–NYSE–2015–40). 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 MKT LLC and NYSE 

Arca, Inc. See Securities Exchange Act Release No. 

70206 (August 15, 2013), 78 FR 51765 (August 21, 

2013) (SR–NYSE–2013–59). 

6See Securities Exchange Act Release No. 76748 

(December 23, 2015), 80 FR 81609 (December 30, 

2015) (SR–NYSE–2015–52) (‘‘Wireless Approval 

Release’’). 

7A User would only receive TotalView Ultra if it 

had entered into a contract with NASDAQ. 

8A User only requires one port to connect to the 

Third Party Data, irrespective of how many of the 

wireless connections it orders. It may, however, 

purchase additional ports. See Wireless Approval 

Release, at 81610. 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (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 Web site 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. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR– 

NYSEMKT–2016–23 and should be 

submitted on or before March 10, 2016. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Robert W. Errett, 

Deputy Secretary. 

[FR Doc. 2016–03266 Filed 2–17–16; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–77119; File No. SR–NYSE– 

2016–01] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change to the CoLocation Services Offered by the 

Exchange To Include a Means for CoLocated Users To Receive the 

NASDAQ TotalView Ultra Market Data 

Feed Through a Wireless Connection 

and Reflect Changes to the Exchange 

Price List 

February 11, 2016. 

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 February 

2, 2016, 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, 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 the Substance 

of the Proposed Rule Change 

The Exchange proposes to change the 

co-location services offered by the 

Exchange to include a means for colocated Users to receive the NASDAQ 

TotalView Ultra (FGPA) market data 

feed through a wireless connection. In 

addition, the proposed rule change 

reflects changes to the Exchange’s Price 

List related to the proposed service. The 

proposed rule change is available on the 

Exchange’s Web site 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to change the 

co-location 4 services offered by the 

Exchange to include a means for Users 5

to have access to the NASDAQ 

TotalView Ultra (FGPA) market data 

feed through a wireless connection. In 

addition, the proposed rule change 

reflects changes to the Exchange’s Price 

List related to the proposed service. 

The Commission has approved the 

Exchange’s proposed rule change to 

provide a wireless connection to five 

market data feeds from third party 

markets.6 The Exchange now proposes 

to add to its Price List a sixth market 

data feed, NASDAQ TotalView Ultra 

(FGPA) (‘‘TotalView Ultra’’ and, 

together with the previously filed five 

market data feeds, the ‘‘Third Party 

Data’’). 

As with the previously approved 

connectivity to Third Party Data through 

the wireless connection, the Exchange 

would utilize a network vendor to 

provide a wireless connection to 

TotalView Ultra through wireless 

connections from an Exchange access 

center to its data center in Mahwah, 

New Jersey, through a series of towers 

equipped with wireless equipment. To 

receive TotalView Ultra, the User would 

enter into a contract with NASDAQ, 

which would charge the User the 

applicable market data fees for 

TotalView Ultra. The Exchange would 

charge the User fees for the wireless 

connection to TotalView Ultra.7

For each wireless connection to 

TotalView Ultra, a User would be 

charged a $5,000 non-recurring initial 

charge and a monthly recurring charge 

(‘‘MRC’’) of $11,000. The Exchange 

proposes to revise its Price List to reflect 

fees related to the connection to 

TotalView Ultra. 

As with the previously approved 

wireless connections to Third Party 

Data, if a User purchased two wireless 

connections, it would pay two nonrecurring initial charges, and the 

wireless connection would include the 

use of one port for connectivity to Third 

Party Data.8 Also as with the previously 

approved wireless connections to Third 

Party Data, the Exchange proposes to 

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