SEC Tentatively Approves NYSE Arca Data Fees

Law360, New York (June 5, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has preliminarily approved a proposal by NYSE Arca Inc. to charge fees for certain market data provided by the exchange.

The SEC issued a draft order on Wednesday approving the proposal but is giving the public more time to comment on whether the fees were determined through competition.

Financial data providers have bashed the proposal for restricting access to market information while other exchanges have supported the fees as creating additional revenue that would foster innovation and healthy competition....
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