Self-Regulatory Organizations; National Association of Securities Dealers, Inc.; Order Approving a Proposed Rule Change to Re-establish a Fee Pilot for National Quotation Data Service, 15506 [E6-4436]

Download as PDF 15506 Federal Register / Vol. 71, No. 59 / Tuesday, March 28, 2006 / Notices III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which NASD consents, the Commission will: (A) By order approve such proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–NASD–2006–035 and should be submitted on or before April 12, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.6 Nancy M. Morris, Secretary. [FR Doc. E6–4434 Filed 3–27–06; 8:45 am] BILLING CODE 8010–01–P IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53531; File No. SR–NASD– 2006–008] • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–NASD–2006–035 on the subject line. cprice-sewell on PROD1PC66 with NOTICES Electronic Comments Self-Regulatory Organizations; National Association of Securities Dealers, Inc.; Order Approving a Proposed Rule Change to Re-establish a Fee Pilot for National Quotation Data Service March 21, 2006. On January 24, 2006, the National Association of Securities Dealers, Inc. (‘‘NASD’’), through its subsidiary, The Nasdaq Stock Market, Inc. (‘‘Nasdaq’’), Paper Comments filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant • Send paper comments in triplicate to Section 19(b)(1) of the Securities to Nancy M. Morris, Secretary, Exchange Act of 1934 (‘‘Act’’) 1 and Rule Securities and Exchange Commission, 19b–4 thereunder,2 a proposed rule Station Place, 100 F Street, NE., change to reinstate its pilot program, Washington, DC 20549–1090. which reduced the monthly fee that All submissions should refer to File non-professional users pay to receive Number SR–NASD–2006–035. This file National Quotation Data Service number should be included on the (‘‘NQDS’’), retroactively to September 1, subject line if e-mail is used. To help the 2005.3 The proposed rule change was Commission process and review your published for comment in the Federal comments more efficiently, please use Register on February 15, 2006.4 The only one method. The Commission will post all comments on the Commission’s 6 17 CFR 200.30–3(a)(12). Internet Web site (http://www.sec.gov/ 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. rules/sro.shtml). Copies of the 3 Since August 22, 2000, Nasdaq has operated a submission, all subsequent pilot to reduce from $50 to $10 the monthly fee that amendments, all written statements non-professional users pay to receive NQDS data. with respect to the proposed rule Nasdaq inadvertently let the pilot lapse on change that are filed with the September 1, 2005, until January 24, 2006. This filing reinstates the pilot retroactively to September Commission, and all written 1, 2005, thereby reflecting the fact that the pilot was communications relating to the in place at that time. See Securities Exchange Act proposed rule change between the Release Nos. 43190 (August 22, 2000), 65 FR 52460 Commission and any person, other than (August 29, 2000) (notice of filing and order granting accelerated approval of NASD–00–47); those that may be withheld from the 44788 (September 13, 2001), 66 FR 48303 public in accordance with the (September 19, 2001); 46446 (August 30, 2002), 67 provisions of 5 U.S.C. 552, will be FR 57260 (September 9, 2002); 48386 (August 21, 2003), 68 FR 51618 (August 27, 2003); and 50318 available for inspection and copying in (September 3, 2004), 69 FR 54821 (September 10, the Commission’s Public Reference 2004). Room. Copies of such filing also will be 4 See Securities Exchange Act Release No. 53254 available for inspection and copying at (February 8, 2006), 70 FR 8027 (SR–NASD–2006– 008). the principal office of NASD. All VerDate Aug<31>2005 15:19 Mar 27, 2006 Jkt 208001 PO 00000 Frm 00135 Fmt 4703 Sfmt 4703 Commission received no comments on the proposal. This order approves the proposed rule change. The Commission finds that the proposed rule change is consistent with Section 15A of the Act 5 and the rules and regulations thereunder.6 Specifically, the Commission finds the proposal to be consistent with Section 15A(b)(5) of the Act,7 in that it provides for the equitable allocation of reasonable dues, fees and other charges among members. The pilot lowers the monthly fee for non-professionals to receive NQDS from $50 to $10 a month. The Commission notes that the NQDS feature provides a mechanism to allow access to market data that is relevant to investors when they make financial decisions and that it does not unfairly discriminate between customers, issuers, brokers or dealers. It is therefore ordered, pursuant to Section 19(b)(2) of the Act,8 that the proposed rule change (SR–NASD–2006– 008), be, and it hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Nancy M. Morris, Secretary. [FR Doc. E6–4436 Filed 3–27–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53528; File No. SR–NSCC– 2005–15] Self-Regulatory Organizations; National Securities Clearing Corporation; Order Approving Proposed Rule Change Relating To Buy-Ins in Its Continuous Net Settlement System March 21, 2006. I. Introduction On December 1, 2005, the National Securities Clearing Corporation (‘‘NSCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) proposed rule change SR–NSCC–2005– 15 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’).1 Notice of the proposal was published in the Federal Register on 5 15 U.S.C. 78o3. approving this proposed rule change the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 7 15 U.S.C. 78o(b)(5). 8 15 U.S.C. 78s(b)(2). 9 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 6 In E:\FR\FM\28MRN1.SGM 28MRN1

Agencies

[Federal Register Volume 71, Number 59 (Tuesday, March 28, 2006)]
[Notices]
[Page 15506]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-4436]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53531; File No. SR-NASD-2006-008]


Self-Regulatory Organizations; National Association of Securities 
Dealers, Inc.; Order Approving a Proposed Rule Change to Re-establish a 
Fee Pilot for National Quotation Data Service

March 21, 2006.
    On January 24, 2006, the National Association of Securities 
Dealers, Inc. (``NASD''), through its subsidiary, The Nasdaq Stock 
Market, Inc. (``Nasdaq''), filed with the Securities and Exchange 
Commission (``Commission''), pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to reinstate its pilot program, 
which reduced the monthly fee that non-professional users pay to 
receive National Quotation Data Service (``NQDS''), retroactively to 
September 1, 2005.\3\ The proposed rule change was published for 
comment in the Federal Register on February 15, 2006.\4\ The Commission 
received no comments on the proposal. This order approves the proposed 
rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Since August 22, 2000, Nasdaq has operated a pilot to reduce 
from $50 to $10 the monthly fee that non-professional users pay to 
receive NQDS data. Nasdaq inadvertently let the pilot lapse on 
September 1, 2005, until January 24, 2006. This filing reinstates 
the pilot retroactively to September 1, 2005, thereby reflecting the 
fact that the pilot was in place at that time. See Securities 
Exchange Act Release Nos. 43190 (August 22, 2000), 65 FR 52460 
(August 29, 2000) (notice of filing and order granting accelerated 
approval of NASD-00-47); 44788 (September 13, 2001), 66 FR 48303 
(September 19, 2001); 46446 (August 30, 2002), 67 FR 57260 
(September 9, 2002); 48386 (August 21, 2003), 68 FR 51618 (August 
27, 2003); and 50318 (September 3, 2004), 69 FR 54821 (September 10, 
2004).
    \4\ See Securities Exchange Act Release No. 53254 (February 8, 
2006), 70 FR 8027 (SR-NASD-2006-008).
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    The Commission finds that the proposed rule change is consistent 
with Section 15A of the Act \5\ and the rules and regulations 
thereunder.\6\ Specifically, the Commission finds the proposal to be 
consistent with Section 15A(b)(5) of the Act,\7\ in that it provides 
for the equitable allocation of reasonable dues, fees and other charges 
among members. The pilot lowers the monthly fee for non-professionals 
to receive NQDS from $50 to $10 a month. The Commission notes that the 
NQDS feature provides a mechanism to allow access to market data that 
is relevant to investors when they make financial decisions and that it 
does not unfairly discriminate between customers, issuers, brokers or 
dealers.
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    \5\ 15 U.S.C. 78o3.
    \6\ In approving this proposed rule change the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \7\ 15 U.S.C. 78o(b)(5).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\8\ that the proposed rule change (SR-NASD-2006-008), be, and it 
hereby is, approved.
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    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-4436 Filed 3-27-06; 8:45 am]
BILLING CODE 8010-01-P