A coalition of major Internet companies like Google and Yahoo! are planning to petition the Securities and Exchange Commission (SEC) to review the new fees that stock exchanges in US charge them for posting real-time stock quotes on their websites.
Owing to the new charges, sites like Google, AOL, Yahoo! etc have stoped offering real-time stock quotes.
The coalition - Netcoalition.com is seeking the SEC to rollback a staff decision that allows the New York Stock Exchange (NYSE) to increase the fees for displaying stock info from its Archipelago electronic market.
Last month, the commission ruled that the new charges were legitimate as they were like those already imposed by the Nasdaq for similar data. So in the face of similar fee structure in place, it is unlikely that the coalition would be able to get the SEC to order a rollback on the new charges.
