Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule Change to Retroactively Reduce Fees for Nasdaq's Risk Management Service, 3892-3893 [E7-1225]
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Federal Register / Vol. 72, No. 17 / Friday, January 26, 2007 / Notices
Comments may be submitted by any of
the following methods:
SECURITIES AND EXCHANGE
COMMISSION
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–NASDAQ–2006–066 on the
subject line.
[Release No. 34–55130; File No. SR–
NASDAQ–2006–067]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing of Proposed Rule Change to
Retroactively Reduce Fees for
Nasdaq’s Risk Management Service
January 19, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
• Send paper comments in triplicate
notice is hereby given that on December
to Nancy M. Morris, Secretary,
29, 2006, The NASDAQ Stock Market
Securities and Exchange Commission,
LLC (‘‘Nasdaq’’) filed with the Securities
100 F Street, NE., Washington, DC
and Exchange Commission
20549–1090.
(‘‘Commission’’) the proposed rule
change as described in Items I, II and III
All submissions should refer to File
below, which Items have been prepared
Number SR–NASDAQ–2006–066. This
by Nasdaq. The Commission is
file number should be included on the
subject line if e-mail is used. To help the publishing this notice to solicit
comments on the proposed rule change
Commission process and review your
from interested persons.
comments more efficiently, please use
only one method. The Commission will I. Self-Regulatory Organization’s
post all comments on the Commission’s Statement of the Terms of Substance of
Internet Web site (https://www.sec.gov/
the Proposed Rule Change
rules/sro.shtml). Copies of the
Nasdaq proposes to make retroactive
submission, all subsequent
to November 1, 2006 recent reductions
amendments, all written statements
in fees charged for the Nasdaq Risk
with respect to the proposed rule
Management Service (‘‘Service’’). The
change that are filed with the
text of the proposed rule change is
Commission, and all written
available at Nasdaq, www.nasdaq.com,
communications relating to the
and the Commission’s Public Reference
proposed rule change between the
Room.
Commission and any person, other than
II. Self-Regulatory Organization’s
those that may be withheld from the
Statement of the Purpose of, and
public in accordance with the
Statutory Basis for, the Proposed Rule
provisions of 5 U.S.C. 552, will be
Change
available for inspection and copying in
In its filing with the Commission,
the Commission’s Public Reference
Nasdaq included statements concerning
Room. Copies of such filing also will be
the purpose of and basis for the
available for inspection and copying at
proposed rule change. The text of these
the principal office of Nasdaq.
statements may be examined at the
All comments received will be posted places specified in Item IV below.
without change; the Commission does
Nasdaq has prepared summaries, set
not edit personal identifying
forth in Sections A, B, and C below, of
information from submissions. You
the most significant aspects of such
should submit only information that
statements.
you wish to make available publicly. All
A. Self-Regulatory Organization’s
submissions should refer to File
Statement of the Purpose of, and
Number SR–NASDAQ–2006–066 and
Statutory Basis for, the Proposed Rule
should be submitted on or before
Change
February 16, 2007.
1. Purpose
For the Commission, by the Division of
In SR–NASDAQ–2006–066,3 Nasdaq
Market Regulation, pursuant to delegated
reduced the per trade fee for the Service
10
authority.
to $0.025, and capped the per month
Florence E. Harmon,
total Service fee per clearing firm at
Deputy Secretary.
$7,500. The instant proposed rule
sroberts on PROD1PC70 with NOTICES
Paper Comments
[FR Doc. E7–1224 Filed 1–25–07; 8:45 am]
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 55131
(January 19, 2007).
BILLING CODE 8011–01–P
change seeks to make those same fee
and cap reductions retroactive to
November 1, 2006. Nasdaq believes that
these fee reductions will ensure that
Nasdaq’s charges for risk management
services remain competitive with those
of providers of similar services.
2. Statutory Basis
Nasdaq believes that the proposed
rule change is consistent with the
provisions of Section 6 of the Act,4 in
general, and with Section 6(b)(4) of the
Act,5 in particular, in that it provides for
the equitable allocation of reasonable
dues, fees and other charges among
members and issuers and other persons
using any facility or system which
Nasdaq operates or controls.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act, as amended.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
Written comments were neither
solicited nor received.
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 the self-regulatory
organization 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.
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
2 17
10 17
CFR 200.30–3(a)(12).
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17:19 Jan 25, 2007
Jkt 211001
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4 15
5 15
E:\FR\FM\26JAN1.SGM
U.S.C. 78f.
U.S.C. 78f(b)(4).
26JAN1
Federal Register / Vol. 72, No. 17 / Friday, January 26, 2007 / Notices
• Send an e-mail to rulecomments@sec.gov. Please include File
No. SR–NASDAQ–2006–067 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–NASDAQ–2006–067. 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 Nasdaq. 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–NASDAQ–2006–067 and
should be submitted on or before
February 16, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.6
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–1225 Filed 1–25–07; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55135; File No. SR–
NASDAQ–2006–062]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Regarding
Fees for TradeInfo as Modified by
Amendments No. 1 and 2
January 19, 2007.
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 December
20, 2006, The NASDAQ Stock Market
LLC (‘‘Nasdaq’’) 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
substantially prepared by Nasdaq. On
December 22, 2006, the Exchange filed
Amendment No. 1 to the proposed rule
change.3 On January 16, 2007, the
Exchange filed Amendment No. 2 to the
proposed rule change.4
Pursuant to Section 19(b)(3)(A)(ii) of
the Act 5 and Rule 19b–4(f)(2)
thereunder,6 Nasdaq has designated this
proposal as establishing or changing a
due, fee, or other charge, which renders
the proposed rule change effective upon
filing.7 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 the Substance
of the Proposed Rule Change
Nasdaq proposes to delete references
to the Brut facility, which has become
part of the Nasdaq Market Center, and
to also initiate member fees for
TradeInfo. Nasdaq proposes to
implement the proposed rule change on
February 1, 2007. The text of the
proposed rule change is available at
www.nasdaq.com, at Nasdaq’s principal
office and at the Commission’s Public
Reference Room.
BILLING CODE 8011–01–P
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Amendment No. 1.
4 See Amendment No. 2.
5 15 U.S.C. 78s(b)(3)(A)(ii).
6 17 CFR 240.19b–4(f)(2).
7 For purposes of calculating the 60-day period
within which the Commission may summarily
abrogate the proposed rule change, the Commission
considers the period to commence on January 16,
2007, the date on which the Exchange filed
Amendment No. 2. See 15 U.S.C. 78s(b)(3)(C).
sroberts on PROD1PC70 with NOTICES
2 17
6 17
CFR 200.30–3(a)(12).
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3893
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Nasdaq 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. Nasdaq 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
Nasdaq proposes to amend Rule 7015
to delete references to the Brut facility,
which has become part of the Nasdaq
Market Center and also to initiate fees
of $95 per month per user for its Webbased TradeInfo product. TradeInfo
allows users to scan for their Nasdaqlisted orders submitted in Nasdaq. Users
can then perform actions on their
orders. Users can scan for all orders in
a particular security or all orders of a
particular type, regardless of their status
(open, canceled, executed, etc.). For
example, after scanning for open orders
the user is then able to select an open
order and is allowed to make
corrections to the order or cancel the
order. TradeInfo also allows the users to
scan other orders, such as executed,
cancelled, broken, rejected and
suspended orders. TradeInfo will be
available solely to Nasdaq members.
TradeInfo provides functionality that
is also offered through the New Nasdaq
Workstation’s (‘‘NNW’’) Order/
Execution Scan. However, the NNW is
a premium priced product, for which
users pay a flat monthly fee of $475 per
user, and that includes access to both
the NNW itself and vendor’s data
entitlements.
In an effort to provide users the
functionality to scan for their orders
without purchasing the full suite of
services of the NNW at $475 per user
per month, Nasdaq is initiating a fee for
TradeInfo at $95 per month per user.
2. Statutory Basis
Nasdaq believes that the proposed
rule change is consistent with the
provisions of Section 6 of the Act,8 in
general, and with Section 6(b)(4) of the
8 15
E:\FR\FM\26JAN1.SGM
U.S.C. 78f.
26JAN1
]]>Agencies
[Federal Register Volume 72, Number 17 (Friday, January 26, 2007)]
[Notices]
[Pages 3892-3893]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-1225]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55130; File No. SR-NASDAQ-2006-067]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing of Proposed Rule Change to Retroactively Reduce Fees
for Nasdaq's Risk Management Service
January 19, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on December 29, 2006, The NASDAQ Stock Market LLC (``Nasdaq'')
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 Nasdaq. 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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Nasdaq proposes to make retroactive to November 1, 2006 recent
reductions in fees charged for the Nasdaq Risk Management Service
(``Service''). The text of the proposed rule change is available at
Nasdaq, www.nasdaq.com, and 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, Nasdaq included statements
concerning the purpose of and basis for the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. Nasdaq 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
In SR-NASDAQ-2006-066,\3\ Nasdaq reduced the per trade fee for the
Service to $0.025, and capped the per month total Service fee per
clearing firm at $7,500. The instant proposed rule change seeks to make
those same fee and cap reductions retroactive to November 1, 2006.
Nasdaq believes that these fee reductions will ensure that Nasdaq's
charges for risk management services remain competitive with those of
providers of similar services.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 55131 (January 19,
2007).
---------------------------------------------------------------------------
2. Statutory Basis
Nasdaq believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\4\ in general, and with Section
6(b)(4) of the Act,\5\ in particular, in that it provides for the
equitable allocation of reasonable dues, fees and other charges among
members and issuers and other persons using any facility or system
which Nasdaq operates or controls.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f.
\5\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
Nasdaq does not believe that the proposed rule change will result
in any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
Written comments were neither solicited nor received.
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 the self-regulatory organization 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.
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
[[Page 3893]]
Send an e-mail to rule-comments@sec.gov. Please include
File No. SR-NASDAQ-2006-067 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-NASDAQ-2006-067. 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 Nasdaq. 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-NASDAQ-2006-067 and should be submitted on or before
February 16, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-1225 Filed 1-25-07; 8:45 am]
BILLING CODE 8011-01-P
