SEC Denies Exchanges' Application For Stay Of Market Data Plan

The SEC denied a joint application from Nasdaq Stock Market LLC, Nasdaq BX, Inc., Nasdaq PHLX LLC, New York Stock Exchange LLC, NYSE American LLC, NYSE Arca, Inc., NYSE Chicago, Inc., NYSE National, Inc., Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., and Cboe Exchange, Inc. (the "Exchanges") to stay the effect of an SEC order authorizing the implementation of a National Market System plan on consolidated equity market data ("the CT Plan Order"). The Exchanges sought a stay of the CT Plan Order pending the resolution of their petitions for judicial review of the CT Plan Order, as well as a related SEC order, by the U.S. Court of Appeals for the D.C. Circuit.