NYSE Arca Proposal

SIFMA provides comments to the Securities and Exchange Commission (SEC) on a proposed order that would approve a proposal by NYSE Arca to establish fees for certain market data that NYSE Arca had previously made available without charge, SEC Release No. 34-57917. SIFMA argues that the order is flawed and non-compliant with the Securities Exchange Act of 1934. SIFMA argues that NYSE and Nasdaq should be considered one enterprise for competitive purposes and that the costs of collecting and distributing this data are most likely trivial.