67212 Federal Register / Vol. 79, No. 218 / Wednesday, November 12, 2014 / Notices 

15 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. 

4See Securities Exchange Act Release No. 55496 

(Mar. 20, 2007), 72 FR 14631 (Mar. 28, 2007) (SR– 

NYSE–2006–37). 5See NYSE Rule 86. 6See supra note 4. 7See supra note 4. Because NYSE Bonds is a 

purely order-driven system, the Exchange does not 

disseminate any quote information on a particular 

bond if there are no orders posted in the book for 

such bond. 

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

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

10See supra note 4. 

11 Id. 

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– 

NYSEArca–2014–128 and should be 

submitted on or before December 3, 

2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26689 Filed 11–10–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73527; File No. SR–NYSE– 

2014–57] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Update the 

NYSE Proprietary Market Data Fee 

Schedule To Reflect the Offering of the 

NYSE Bonds Market Data Products 

November 5, 2014. 

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 October 29, 

2014, 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 Substance of 

the Proposed Rule Change 

The Exchange proposes to update the 

NYSE Proprietary Market Data Fee 

schedule (‘‘Market Data Fee Schedule’’) 

to reflect the offering of the NYSE Bonds 

market data products. The text of 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 update the 

Market Data Fee Schedule to reflect the 

offering of the NYSE Bonds market data 

products. 

In 2007, the Exchange established 

NYSE Bonds®, an electronic bond 

trading platform.4 Bonds eligible to 

trade on the NYSE Bonds platform 

include any debt instrument that is 

listed on the NYSE and any corporate 

debt of a listed company of the 

Exchange or of any wholly-owned 

subsidiary of a company listed on the 

Exchange.5 On NYSE Bonds, firm and 

executable orders entered by members 

or sponsored participants are displayed 

on the order book and executed on a 

strict price/time priority. 

In connection with the establishment 

of the NYSE Bonds platform, the 

Exchange created a real-time bond data 

feed that includes order information, 

such as time sequence of orders in the 

NYSE Bonds order book, pricing 

information for the NYSE Bonds 

opening, closing and halt auctions, as 

well as order imbalance information, 

indicative match prices, and halt 

messages as described in NYSE Rule 

86.6 This product is now referred to as 

the NYSE Bonds Depth of Book feed. 

The Exchange also established the 

NYSE Bonds BBO feed, a data feed 

consisting of real-time top-of-book data 

and the NYSE Bonds Trades Feed, a 

data feed consisting of real-time last sale 

prices and sizes.7 These NYSE Bonds 

market data feeds are currently offered 

free of charge. 

The Exchange proposes to update the 

Market Data Fee Schedule to reflect the 

NYSE Bonds market data products, 

which will continue to be offered 

without charge. If the Exchange decides 

to establish fees for the NYSE Bonds 

market data products at a later date, it 

will submit a separate rule filing. 

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 

believes that adding the NYSE Bonds 

market data products to the Market Data 

Fee Schedule will remove impediments 

to and help perfect a free and open 

market by providing greater 

transparency for the Exchange’s 

customers regarding market data 

products that are available and have 

been previously filed with the 

Commission.10

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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 because the 

Exchange is merely adding a reference 

to the Market Data Fee Schedule for 

market data products that have been 

previously filed with the Commission 

and are offered without charge.11

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. 


TKELLEY on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 218 / Wednesday, November 12, 2014 / Notices 67213 

12The Exchange has fulfilled this requirement. 

13 15 U.S.C. 78s(b)(3)(A). 

14 17 CFR 240.19b–4(f)(6). 

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

16 17 CFR 240.19b–4(f)(6). 

17 17 CFR 240.19b–4(f)(6)(iii). 

18For purposes only of accelerating the operative 

date of this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). 

19 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 34–72941 

(Aug. 28, 2014), 79 FR 52794 (Sep. 4, 2014) (SR– 

ICC–2014–14). 

4Securities Exchange Act Release No. 34–73384 

(Oct. 17, 2014), 79 FR 63453 (Oct. 23, 2014) (SR– 

ICC–2014–14). 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

does not (i) significantly affect the 

protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 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, 

provided that the self-regulatory 

organization has given 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,12 the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act 13 and 

Rule 19b–4(f)(6) thereunder.14

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) 15 of the Act to 

determine whether the proposed rule 

change should be approved or 

disapproved. 

A proposed rule change filed under 

Rule 19b–4(f)(6) 16 normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule 19b–4(f)(6)(iii),17 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 Exchange believes that 

waiving the 30-day delay is consistent 

with the protection of investors and the 

public interest because it would permit 

the Exchange to more promptly update 

its Market Data Fee Schedule about free 

product offerings, thereby promoting 

transparency regarding already-filed 

market data products. The Commission 

agrees and has determined to waive the 

five-day pre-filing requirement and the 

30-day operative date so that the 

proposal may take effect upon filing.18

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– 

NYSE–2014–57 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–NYSE–2014–57. 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 the 

filing will also be available for 

inspection and copying at the NYSE’s 

principal office and on its Internet Web 

site at www.nyse.com. 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–NYSE– 

2014–57 and should be submitted on or 

before December 3, 2014. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2014–26687 Filed 11–10–14; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–73534; File No. SR–ICC– 

2014–14] 

Self-Regulatory Organizations; ICE 

Clear Credit LLC; Order Approving 

Proposed Rule Change To Add Rules 

Related to the Clearing of Standard 

Western European Sovereign CDS 

Contracts 

November 5, 2014. 

I. Introduction 

On August 25, 2014, ICE Clear Credit 

LLC (‘‘ICC’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change SR–ICC–2014–14 pursuant to 

Section 19(b)(1) of the Securities 

Exchange Act of 1934 (‘‘Act’’) 1 and Rule 

19b–4 thereunder.2 The proposed rule 

change was published for comment in 

the Federal Register on September 4, 

2014.3 The Commission did not receive 

comments on the proposed rule change. 

On October 17, 2014, the Commission 

extended the time period in which to 

either approve, disapprove, or institute 

proceedings to determine whether to 

disapprove the proposed rule change to 

December 3, 2014.4 For the reasons 

discussed below, the Commission is 

approving the proposed rule change. 

II. Description of the Proposed Rule 

Change 

ICC proposes to amend Chapter 26 of 

the ICC Clearing Rules (‘‘Rules’’) to add 

Subchapter 26I and to amend the ICC 

Risk Management Framework to provide 

for the clearance of Standard Western 

European Sovereign (‘‘SWES’’) credit 

default swap (‘‘CDS’’) contracts, 

specifically the Republic of Ireland, the 

Italian Republic, the Portuguese 

Republic, and the Kingdom of Spain 

(collectively, the ‘‘SWES Contracts’’). 


TKELLEY on DSK3SPTVN1PROD with NOTICES