Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Granting Approval of Proposed Rule Change To Retroactively Reduce Fees for Nasdaq's Risk Management Service, 10797 [E7-4187]

Download as PDF Federal Register / Vol. 72, No. 46 / Friday, March 9, 2007 / Notices 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)(i) of the Act5 and Rule 19b– 4(f)(1)6 thereunder because it constitutes a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of DTC. 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 is consistent with the Act. Comments may be submitted by any of the following methods: jlentini on PROD1PC65 with NOTICES 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 No. SR–DTC–2007–03 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 No. SR–DTC–2007–03. 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 5 15 6 17 U.S.C. 78s(b)(3)(A)(i). CFR 240.19b–4(f)(1). VerDate Aug<31>2005 21:24 Mar 08, 2007 Jkt 211001 available for inspection and copying in the Commission’s Public Reference Section, 100 F Street, NE., Washington, DC 20549. Copies of such filing also will be available for inspection and copying at DTC’s principal office and on DTC’s Web site at https://www.dtc.org/impNtc/ mor/. 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 submission should refer to File No. SR–DTC–2007– 03 and should be submitted on or before March 30, 2007. For the Commission by the Division of Market Regulation, pursuant to delegated authority.7 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4188 Filed 3–8–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55388; File No. SR– NASDAQ–2006–067] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Granting Approval of Proposed Rule Change To Retroactively Reduce Fees for Nasdaq’s Risk Management Service March 2, 2007. On December 29, 2006, The NASDAQ Stock Market LLC (‘‘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 make retroactive to November 1, 2006, certain reductions in fees charged for the Nasdaq Risk Management Service (‘‘Service’’). 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 would 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. The proposed rule change was published for notice and 7 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 55131 (January 19, 2007), 72 FR 3891 (January 26, 2007) (SR–NASDAQ–2006–066). 1 15 PO 00000 Frm 00168 Fmt 4703 Sfmt 4703 10797 comment in the Federal Register on January 26, 2007.4 The Commission received no comments on the proposal. The Commission has reviewed carefully the proposed rule change and finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange 5 and, in particular, the requirements of Section 6(b)(4) of the Act,6 which requires, among other things, that Nasdaq’s rules provide 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, and that it not unfairly discriminate between customers, issuers, brokers or dealers. The Commission believes that the proposed rule change is consistent with these statutory standards. The Commission believes that reduction of the fee and cap for the Service retroactive to November 1, 2006 will enhance competition among providers of similar services. It is therefore ordered, pursuant to Section 19(b)(2) of the Act7, that the proposed rule change (SR–NASDAQ– 2006–067) be, and it hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4187 Filed 3–8–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55385; File No. SR– NASDAQ–2007–018] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change to Trade iShares Silver Trust Pursuant to Unlisted Trading Privileges March 2, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 4 See Securities Exchange Act Release No. 55130 (January 19, 2007), 72 FR 3892. 5 In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b)(4). 7 15 U.S.C. 78s(b)(2). 8 17 CFR 200.30–3(a)(12). E:\FR\FM\09MRN1.SGM 09MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 72, Number 46 (Friday, March 9, 2007)]
[Notices]
[Page 10797]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4187]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55388; File No. SR-NASDAQ-2006-067]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order 
Granting Approval of Proposed Rule Change To Retroactively Reduce Fees 
for Nasdaq's Risk Management Service

March 2, 2007.
    On December 29, 2006, The NASDAQ Stock Market LLC (``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 
make retroactive to November 1, 2006, certain reductions in fees 
charged for the Nasdaq Risk Management Service (``Service''). 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 would 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. The proposed rule change was published for notice and 
comment in the Federal Register on January 26, 2007.\4\ The Commission 
received no comments on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 55131 (January 19, 
2007), 72 FR 3891 (January 26, 2007) (SR-NASDAQ-2006-066).
    \4\ See Securities Exchange Act Release No. 55130 (January 19, 
2007), 72 FR 3892.
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    The Commission has reviewed carefully the proposed rule change and 
finds that the proposed rule change is consistent with the requirements 
of the Act and the rules and regulations thereunder applicable to a 
national securities exchange \5\ and, in particular, the requirements 
of Section 6(b)(4) of the Act,\6\ which requires, among other things, 
that Nasdaq's rules provide 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, 
and that it not unfairly discriminate between customers, issuers, 
brokers or dealers. The Commission believes that the proposed rule 
change is consistent with these statutory standards. The Commission 
believes that reduction of the fee and cap for the Service retroactive 
to November 1, 2006 will enhance competition among providers of similar 
services.
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    \5\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b)(4).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act\7\, that the proposed rule change (SR-NASDAQ-2006-067) be, and it 
hereby is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).

For the Commission, by the Division of Market Regulation, pursuant 
to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-4187 Filed 3-8-07; 8:45 am]
BILLING CODE 8010-01-P

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