The Market Data Subcommittee of the Technology and Regulation Committee of SIFMA provides comments to the Securities and Exchange Commission (SEC) on the New York Stock Exchange (NYSE) last sale proposal which would establish a four-month pilot program for a real-time market data service, NYSE Real-Time Reference Prices (NYSE RTRP), File No. SR-NYSE-2007-04; SEC Release No. 34-55354.  SIFMA objects to the NYSE’s circumvention of statutory standards, the effects of the self-regulation rule “streamlining” proposal.  SIFMA filed the same observations and recommendations to the SEC in a letter filed July 1, 2008 regarding File No. SR-NASDAQ-2006-060 and on June 25, 2008 regarding File No. SR-NASDAQ-2008-050.