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, 3893-3894 [E7-1226]

Download as PDF 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 (http://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). VerDate Aug<31>2005 17:19 Jan 25, 2007 Jkt 211001 PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 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 3894 Federal Register / Vol. 72, No. 17 / Friday, January 26, 2007 / Notices Act,9 in particular, in that the 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. The proposed rule change is designed to allow members to purchase a subset of the functionality available through the NNW at a lower cost. 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 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 thereunder 11 because it establishes or changes a due, fee, or other charge imposed by the Exchange. At any time within 60 days of the filing of the 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 Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change, as amended, is consistent with the Act. Comments may be submitted by any of the following methods: Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549–1090. Deputy Secretary. [FR Doc. E7–1226 Filed 1–25–07; 8:45 am] BILLING CODE 8011–01–P sroberts on PROD1PC70 with NOTICES 1 15 10 15 12 17 Jkt 211001 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(2). 5 NASD stipulated the implementation date to be January 2, 2007. 2 17 9 15 17:19 Jan 25, 2007 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, NASD 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 • 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 Number SR–NASDAQ–2006–062 on the subject line. VerDate Aug<31>2005 [Release No. 34–55129; File No. SR–NASD– 2006–137] Self-Regulatory Organizations; National Association of Securities All submissions should refer to File Dealers, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Number SR–NASDAQ–2006–062. This Rule Change To Modify Pricing for file number should be included on the subject line if e-mail is used. To help the NASD Members Using ITS/CAES System and Inet Facility Commission process and review your comments more efficiently, please use January 18, 2006. only one method. The Commission will Pursuant to Section 19(b)(1) of the post all comments on the Commission’s Securities Exchange Act of 1934 Internet Web site (http://www.sec.gov/ (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 rules/sro.shtml). Copies of the notice is hereby given that on December submission, all subsequent 29, 2006, the National Association of amendments, all written statements Securities Dealers, Inc. (‘‘NASD’’) filed with respect to the proposed rule with the Securities and Exchange change that are filed with the Commission (‘‘Commission’’) the Commission, and all written proposed rule change as described in communications relating to the Items I, II, and III below, which Items proposed rule change between the have been prepared substantially by Commission and any person, other than NASD. NASD submitted the proposed rule change under Section 19(b)(3)(A) of those that may be withheld from the the Act 3 and Rule 19b–4(f)(2) public in accordance with the thereunder,4 which renders the proposal provisions of 5 U.S.C. 552, will be effective upon filing with the available for inspection and copying in Commission.5 The Commission is the Commission’s Public Reference Room. Copies of such filing also will be publishing this notice to solicit comments on the proposed rule change available for inspection and copying at from interested persons. the principal office of Nasdaq. All comments received will be posted I. Self-Regulatory Organization’s Statement of the Terms of Substance of without change; the Commission does the Proposed Rule Change not edit personal identifying information from submissions. You NASD proposes to amend NASD Rule should submit only information that 7010 to modify the pricing for its you wish to make available publicly. members using the ITS/CAES System and the Inet facility (the ‘‘Nasdaq All submissions should refer to File Facilities’’), which are currently Number SR–NASDAQ–2006–062 and operated by The Nasdaq Stock Market, should be submitted on or before Inc. and its subsidiaries (‘‘Nasdaq’’) as February 16, 2007. facilities of NASD. The text of the For the Commission, by the Division of proposed rule change is available on the Market Regulation, pursuant to delegated NASD’s Web site at http:// authority.12 www.nasd.com, at NASD and at the Florence E. Harmon, Commission’s Public Reference Room. Electronic Comments U.S.C. 78f(b)(4). U.S.C. 78s(b)(3)(a)(ii). 11 17 CFR 240.19b–4(f)(2). SECURITIES AND EXCHANGE COMMISSION PO 00000 CFR 200.30–3(a)(12). Frm 00116 Fmt 4703 Sfmt 4703 E:\FR\FM\26JAN1.SGM 26JAN1

Agencies

[Federal Register Volume 72, Number 17 (Friday, January 26, 2007)]
[Notices]
[Pages 3893-3894]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-1226]


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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\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Amendment No. 1.
    \4\ See Amendment No. 2.
---------------------------------------------------------------------------

    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.
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

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.

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 Web-based TradeInfo 
product. TradeInfo allows users to scan for their Nasdaq-listed 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

[[Page 3894]]

Act,\9\ in particular, in that the 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. The proposed rule change is designed to allow 
members to purchase a subset of the functionality available through the 
NNW at a lower cost.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f.
    \9\ 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

    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 
thereunder \11\ because it establishes or changes a due, fee, or other 
charge imposed by the Exchange. At any time within 60 days of the 
filing of the 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, as amended, is consistent with the Act. Comments may be 
submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NASDAQ-2006-062 on the subject line.

Paper Comments

     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-NASDAQ-2006-062. 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 (http://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-2006-062 and 
should be submitted on or before February 16, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

    \12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-1226 Filed 1-25-07; 8:45 am]
BILLING CODE 8011-01-P