Federal Register #SR-NYSE-2026-15

SEC Notice: NYSE Proposes Digital Media Enterprise Fee for Market Data

This opportunity concerns a proposed rule change by the Securities and Exchange Commission (SEC) regarding NYSE proprietary market data fees: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEMs and Vendors: - New York Stock Exchange LLC (NYSE) - References to competing products from Nasdaq Stock Market LLC and Cboe Exchange, Inc. - Products/Services Requested: - NYSE BBO Digital Media Enterprise Fee - $40,000/month subscription for unlimited redistribution of real-time best-bid-and-offer (BBO) data for informational, non-trading purposes (e.g., television, websites, mobile devices) - NYSE Trades Digital Media Enterprise Fee - $40,000/month subscription for redistribution of real-time trade data for informational, non-trading purposes - Unique or Notable Requirements: - Fee allows unlimited distribution to users for non-trading purposes - Applies to vendors, broadcasters, website and mobile service providers - Designed to reduce administrative burden and enhance market transparency - Competes with similar digital media licenses from Nasdaq and Cboe - No physical products or purchase quantities are specified, as this is a regulatory fee change - Place of Performance/Delivery: - SEC headquarters (Washington, DC) - New York Stock Exchange LLC (New York, NY)

Description

The Securities and Exchange Commission has filed a proposed rule change by the New York Stock Exchange LLC to amend its proprietary market data fees. The amendment establishes a new Digital Media Enterprise Fee for NYSE BBO (Best Bid and Offer) data, allowing vendors and media providers to distribute real-time bid and offer information for non-trading purposes such as television, websites, and mobile devices. The fee is set at $40,000 per month and extends to existing enterprise fee subscribers. The rule change is effective immediately upon filing and aims to increase market transparency and meet customer demand for broader distribution of market data.

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