Self-Regulatory Organizations; Texas Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt Corporate Listing Fees on the Exchange

urity would remain subject to the same Company-wide fee rather than a separate $600,000 fee for each security. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,\8\ in general, and furthers the objectives of Sections 6(b)(4) and 6(b)(5) of the Act,\9\ in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among issuers and other persons using the Exchange's facilities and is not designed to permit unfair discrimination among issuers. --------------------------------------------------------------------------- \8\ 15 U.S.C. 78f(b). \9\ 15 U.S.C. 78f(b)(4) and (5). --------------------------------------------------------------------------- TXSE notes that the Exchange operates in a highly competitive marketplace for the listing of companies.\10\ The Commission has repeatedly expressed its preference for competition over regulatory intervention in determining prices, products, and services in the securities markets. The Exchange believes that the ever-shifting market share among exchanges with respect to new listings and the transfer of existing listings between competitor exchanges demonstrates that issuers can choose different listing markets in response to fee changes. Moreover, new competitors, such as the Exchange, can enter the space, as well as existing exchan