As per the MEN:
The FA said in a statement: "The FA can confirm that Manchester City FC have today submitted a claim that, following the dismissal of Mario Balotelli for violent conduct, the standard punishment of an automatic three match ban is clearly excessive.
"The claim will be heard by an independent regulatory commission tomorrow."
I did speculate on twitter as to whether this would be the best course of action to take, rather than appeal the red per se and argue that no infraction occured, but to accept the infringement but put a forward a case that it was deserving only of a yellow rather than a red.
Either way, Balotelli will miss the derby on Wednesday but a decision regarding the appeal will be announced tomorrow.