Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Market Maker Transaction Fees and Credits, 65023-65024 [E6-18632]
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Federal Register / Vol. 71, No. 214 / Monday, November 6, 2006 / Notices
V. Solicitation of Comments on
Amendment No. 2
Interested persons are invited to
submit written data, views and
arguments concerning Amendment No.
2, including whether Amendment No. 2
is consistent with the Act. Comments
may be submitted by any of the
following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2006–47 on the
subject line.
Paper Comments
rwilkins on PROD1PC63 with NOTICES
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–NYSEArca–2006–47. This
file number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the Exchange. All
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–NYSEArca–2006–47 and
should be submitted on or before
November 27, 2006.
2006–47), as amended, is hereby
approved, and that Amendment No. 2
thereto is approved on an accelerated
basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.18
Nancy M. Morris,
Secretary.
[FR Doc. E6–18631 Filed 11–3–06; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54673; File No. SR–
NYSEArca–2006–78]
17 15
U.S.C. 78s(b)(2).
VerDate Aug<31>2005
17:31 Nov 03, 2006
Jkt 211001
Office of the Secretary, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant aspects of such
statements.
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Market Maker
Transaction Fees and Credits
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
October 30, 2006.
The Exchange proposes to amend the
section of its Fee Schedule that applies
to Market Maker fees and charges.
Market Maker Transaction Fees and
Credits—Round Lots. The Fee Schedule
currently provides that Market Makers
are entitled to a $0.001 per share credit
for round-lot transactions in NYSElisted securities. This credit is
applicable to Q orders executed against
other participants’ orders. The Exchange
proposes to amend the Fee Schedule to
increase this credit to $0.002 per share
and to clarify that it will apply to orders
that provide liquidity to the NYSE Arca
Book (the ‘‘Book’’) in securities for
which the Market Makers are registered
as Market Makers. The Exchange
proposes this change so that the credit
given to Market Makers is consistent
with the $0.002 per share credit given
to all ETP Holders 6 executing round-lot
transactions in NYSE-listed securities in
the Book against inbound orders. The
Exchange further proposes this change
so that the credit given to Market
Makers submitting such orders in
NYSE-listed securities is the same as the
credit given to Market Makers
submitting such orders in other listed
securities and Nasdaq securities.
The Fee Schedule currently provides
that the $.002 per share credit that
Market Makers are entitled to for roundlot transactions in listed securities
(other than NYSE-listed securities) and
Nasdaq securities applies to Q orders
executed against other participants’
orders. The Exchange proposes to
amend this language to clarify that the
credit applies to orders that provide
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
23, 2006, NYSE Arca, Inc. (the
‘‘Exchange’’), through its wholly-owned
subsidiary NYSE Arca Equities, Inc.
(‘‘NYSE Arca Equities’’), filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Exchange has designated this proposal
as one establishing or changing a due,
fee, or other charge imposed by the
Exchange under 19(b)(3)(A)(ii) of the
Act 3 and Rule 19b–4(f)(2) thereunder,4
which renders it effective upon filing
with the Commission. The Commission
is publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
section of its Schedule of Fees and
Charges for Exchange Services (the ‘‘Fee
Schedule’’) that applies to Market
Maker 5 fees and charges. The text of the
proposed rule change is available on the
Exchange’s Web site (https://
www.nysearca.com), at the Exchange’s
VI. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,17 that the
proposed rule change (SR–NYSEArca–
65023
18 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
5 See NYSE Arca Equities Rule 1.1(u).
1 15
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
1. Purpose
6 See
E:\FR\FM\06NON1.SGM
NYSE Arca Equities Rule 1.1(n).
06NON1
65024
Federal Register / Vol. 71, No. 214 / Monday, November 6, 2006 / Notices
rwilkins on PROD1PC63 with NOTICES
liquidity to the Book in securities for
which the Market Makers are registered
as Market Makers. The Exchange
proposes this language so that the
application of this credit is consistent
with the application of the credit for
Market Makers and other ETP Holders
executing round-lot transactions in
NYSE-listed securities.
The Fee Schedule currently does not
specifically set forth a fee for Market
Maker round-lot transactions in NYSElisted securities, other listed securities
or Nasdaq securities that take liquidity
from the Book. The Exchange proposes
to amend the Fee Schedule to set forth
a $.003 per share fee for all such orders.
The Exchange proposes this change so
that it is clear that Market Makers are
subject to the same $.003 per share fee
that is charged to all ETP Holders
executing round-lot transactions in
NYSE-listed securities, other listed
securities, and Nasdaq securities that
take liquidity from the Book.
Market Maker Transaction Fees and
Credits—Odd Lots. The Fee Schedule
currently provides that Market Makers
are entitled to a $0.02 per share credit
for transactions in Nasdaq securities
that execute against odd-lot orders in
the Odd Lot Tracking Order Process, as
defined in NYSE Arca Equities Rule
7.31(g). The Exchange proposes to
eliminate this credit because the
Exchange no longer wishes to provide
the additional financial incentive to
Market Makers for providing liquidity in
Nasdaq odd-lot transactions.
Lead Market Maker Transaction Fees
and Credits—Odd Lots. The Fee
Schedule currently provides that Lead
Market Makers 7 executing odd-lot
transactions in NYSE Arca Marketplace
primary listed securities are entitled to
a $0.02 per share credit for such
transactions. The Exchange proposes to
amend the Fee Schedule to clarify that
such credit applies to orders that
provide liquidity to the Book in
securities for which the Lead Market
Maker is registered as the Lead Market
Maker. The Exchange proposes this
change in order to make the application
of this credit consistent with the
application of the transaction credits to
Market Makers and ETP Holders
generally.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent
Section 6(b) of the Act,8 in general, and
furthers the objectives of Section 6(b)(4)
of the Act,9 in particular, in that it is an
NYSE Arca Equities Rule 1.1(ccc).
U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(4).
equitable allocation of reasonable dues,
fees and other charges among its
members and issuers and other persons
using its facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposed rule change does not impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments on the proposed
rule change were neither solicited nor
received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act 10 and
subparagraph (f)(2) of Rule 19b–4 11
thereunder. At any time within 60 days
of the filing of such proposed rule
change, the Commission may summarily
abrogate such rule change if it appears
to the Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
VerDate Aug<31>2005
17:31 Nov 03, 2006
Jkt 211001
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Nancy M. Morris,
Secretary.
[FR Doc. E6–18632 Filed 11–3–06; 8:45 am]
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:
BILLING CODE 8011–01–P
Electronic Comments
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change and Amendment No. 1
Thereto Relating to the Revision of
Certain Equity Transaction and Market
Data Revenue Sharing Credits
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2006–78 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSEArca–2006–78. This
file number should be included on the
subject line if e-mail is used. To help the
7 See
8 15
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the Exchange. All
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–NYSEArca–2006–78 and
should be submitted on or before
November 27, 2006.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54664; File No. SR–
NYSEArca–2006–72]
October 27, 2006.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
5, 2006, NYSE Arca, Inc. (‘‘Exchange’’),
through its wholly owned subsidiary
NYSE Arca Equities, Inc. (‘‘NYSE Arca
Equities’’), filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change as described
12 17
10 15
U.S.C. 78s(b)(3)(A)(ii).
11 17 CFR 240.19b–4(f)(2).
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\06NON1.SGM
06NON1
]]>Agencies
[Federal Register Volume 71, Number 214 (Monday, November 6, 2006)]
[Notices]
[Pages 65023-65024]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-18632]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-54673; File No. SR-NYSEArca-2006-78]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Amending Market
Maker Transaction Fees and Credits
October 30, 2006.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on October 23, 2006, NYSE Arca, Inc. (the ``Exchange''), through its
wholly-owned subsidiary NYSE Arca Equities, Inc. (``NYSE Arca
Equities''), filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Exchange has designated this proposal as one establishing or changing a
due, fee, or other charge imposed by the Exchange under 19(b)(3)(A)(ii)
of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders it
effective upon filing with the Commission. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the section of its Schedule of Fees
and Charges for Exchange Services (the ``Fee Schedule'') that applies
to Market Maker \5\ fees and charges. The text of the proposed rule
change is available on the Exchange's Web site (https://
www.nysearca.com), at the Exchange's Office of the Secretary, and at
the Commission's Public Reference Room.
---------------------------------------------------------------------------
\5\ See NYSE Arca Equities Rule 1.1(u).
---------------------------------------------------------------------------
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of, and basis for, the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
Sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend the section of its Fee Schedule that
applies to Market Maker fees and charges.
Market Maker Transaction Fees and Credits--Round Lots. The Fee
Schedule currently provides that Market Makers are entitled to a $0.001
per share credit for round-lot transactions in NYSE-listed securities.
This credit is applicable to Q orders executed against other
participants' orders. The Exchange proposes to amend the Fee Schedule
to increase this credit to $0.002 per share and to clarify that it will
apply to orders that provide liquidity to the NYSE Arca Book (the
``Book'') in securities for which the Market Makers are registered as
Market Makers. The Exchange proposes this change so that the credit
given to Market Makers is consistent with the $0.002 per share credit
given to all ETP Holders \6\ executing round-lot transactions in NYSE-
listed securities in the Book against inbound orders. The Exchange
further proposes this change so that the credit given to Market Makers
submitting such orders in NYSE-listed securities is the same as the
credit given to Market Makers submitting such orders in other listed
securities and Nasdaq securities.
---------------------------------------------------------------------------
\6\ See NYSE Arca Equities Rule 1.1(n).
---------------------------------------------------------------------------
The Fee Schedule currently provides that the $.002 per share credit
that Market Makers are entitled to for round-lot transactions in listed
securities (other than NYSE-listed securities) and Nasdaq securities
applies to Q orders executed against other participants' orders. The
Exchange proposes to amend this language to clarify that the credit
applies to orders that provide
[[Page 65024]]
liquidity to the Book in securities for which the Market Makers are
registered as Market Makers. The Exchange proposes this language so
that the application of this credit is consistent with the application
of the credit for Market Makers and other ETP Holders executing round-
lot transactions in NYSE-listed securities.
The Fee Schedule currently does not specifically set forth a fee
for Market Maker round-lot transactions in NYSE-listed securities,
other listed securities or Nasdaq securities that take liquidity from
the Book. The Exchange proposes to amend the Fee Schedule to set forth
a $.003 per share fee for all such orders. The Exchange proposes this
change so that it is clear that Market Makers are subject to the same
$.003 per share fee that is charged to all ETP Holders executing round-
lot transactions in NYSE-listed securities, other listed securities,
and Nasdaq securities that take liquidity from the Book.
Market Maker Transaction Fees and Credits--Odd Lots. The Fee
Schedule currently provides that Market Makers are entitled to a $0.02
per share credit for transactions in Nasdaq securities that execute
against odd-lot orders in the Odd Lot Tracking Order Process, as
defined in NYSE Arca Equities Rule 7.31(g). The Exchange proposes to
eliminate this credit because the Exchange no longer wishes to provide
the additional financial incentive to Market Makers for providing
liquidity in Nasdaq odd-lot transactions.
Lead Market Maker Transaction Fees and Credits--Odd Lots. The Fee
Schedule currently provides that Lead Market Makers \7\ executing odd-
lot transactions in NYSE Arca Marketplace primary listed securities are
entitled to a $0.02 per share credit for such transactions. The
Exchange proposes to amend the Fee Schedule to clarify that such credit
applies to orders that provide liquidity to the Book in securities for
which the Lead Market Maker is registered as the Lead Market Maker. The
Exchange proposes this change in order to make the application of this
credit consistent with the application of the transaction credits to
Market Makers and ETP Holders generally.
---------------------------------------------------------------------------
\7\ See NYSE Arca Equities Rule 1.1(ccc).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
Section 6(b) of the Act,\8\ in general, and furthers the objectives of
Section 6(b)(4) of the Act,\9\ in particular, in that it is an
equitable allocation of reasonable dues, fees and other charges among
its members and issuers and other persons using its facilities.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange believes that the proposed rule change does not impose
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments on the proposed rule change were neither solicited
nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act \10\ and subparagraph (f)(2) of Rule 19b-4
\11\ thereunder. At any time within 60 days of the filing of such
proposed rule change, the Commission may summarily abrogate such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A)(ii).
\11\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2006-78 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSEArca-2006-78. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal office of the Exchange. All 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-NYSEArca-2006-78 and should be submitted on or before
November 27, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
Nancy M. Morris,
Secretary.
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
[FR Doc. E6-18632 Filed 11-3-06; 8:45 am]
BILLING CODE 8011-01-P
