SEC Rule Change for NYSE Arca Data

On December 2, 2008, the Securities and Exchange Commission approved a proposed rule change relating to the sale of “non-core” data by NYSE Arca. Janusz Ordover and Gustavo Bamberger filed an economic assessment of a prior draft order on behalf of the NASDAQ Stock Market. The Commission cited the Ordover/Bamberger analysis throughout its order to support its conclusions. We worked with Eugene Scalia at Gibson Dunn & Crutcher LLP and Jeff Davis and Frank Hatheway at NASDAQ.