Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Amending Fees for the Entry of Mid-Point Passive Liquidity or Primary Sweep Orders, 49341-49342 [E7-16908]

Download as PDF Federal Register / Vol. 72, No. 166 / Tuesday, August 28, 2007 / Notices (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments have not been solicited with respect to the proposed rule change, and none have been received. FICC will notify the Commission of any written comments it receives. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within thirty-five 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 ninety 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, 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 (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–FICC–2007–08 on the subject line. pwalker on PROD1PC71 with NOTICES 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–FICC–2007–08. 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 VerDate Aug<31>2005 19:52 Aug 27, 2007 Jkt 211001 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 Section, 100 F. Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of FICC and on FICC’s Web site at https://www.ficc.com/ gov/gov.docs.jsp?NS-query. 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–FICC–2007–08 and should be submitted on or before September 18, 2007. For the Commission by the Division of Market Regulation, pursuant to delegated authority.11 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–16958 Filed 8–27–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56295; File No. SR– NYSEArca–2007–82] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Amending Fees for the Entry of Mid-Point Passive Liquidity or Primary Sweep Orders August 21, 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 August 3, 2007, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’), through its wholly owned subsidiary NYSE Arca Equities, Inc. (‘‘NYSE Arca Equities’’), filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been substantially prepared by the Exchange. On August 20, 2007, the Exchange submitted Amendment No. 1 11 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 49341 to the proposed rule change.3 The Exchange filed the proposed rule change pursuant to section 19(b)(3)(A) of the Act 4 and Rule 19b–4(f)(2) thereunder,5 which renders it effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, 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’’) as it applies to orders submitted by Users 6 designated as a (1) Mid-Point Passive Liquidity Order (‘‘MPL Order’’) 7 or (2) Primary Sweep Order (‘‘PSO’’).8 The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and https:// www.nyse.com. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, NYSE Arca 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 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 its Fee Schedule as it applies to Users submitting any order that is designated as either an MPL Order or PSO. First, with the adoption of the MPL Order and the changes to the Fee Schedule proposed herein, any order designated as an MPL Order shall not be eligible for a per share credit, if such order executes against an incoming marketable order, regardless of order 3 Amendment No. 1 replaced and superseded the original filing in its entirety. 4 15 U.S.C. 78s(b)(3)(A). 5 17 CFR 240.19b–4(f)(2). 6 See NYSE Arca Rule 1.1(yy) for the definition of ‘‘User.’’ 7 See NYSE Arca Equities Rule 7.31(h)(5). See also Securities Exchange Act Release No. 56072 (July 13, 2007), 72 FR 39867 (July 20, 2007) (SR– NYSEArca–2007–61). 8 See NYSE Arca Equities Rule 7.31(kk). See also Securities Exchange Act Release No. 55896 (June 11, 2007), 72 FR 33795 (June 19, 2007) (SR– NYSEArca–2007–50) E:\FR\FM\28AUN1.SGM 28AUN1 49342 Federal Register / Vol. 72, No. 166 / Tuesday, August 28, 2007 / Notices type. According to the proposal, MPL Orders will be exempted from credits that currently appear in the following sections of the Exchange’s Fee Schedule: NYSE ARCA MARKETPLACE: TRADE RELATED CHARGES, NYSE ARCA MARKETPLACE: MARKET MAKER FEES AND CHARGES, and the ETP Holder Transaction Credit and Market Data Revenue Sharing Credit under NYSE ARCA MARKETPLACE: OTHER FEES AND CHARGES. Consistent with the proposal to exempt MPL Orders from any credits, the Exchange will not assess fees to ETP Holders submitting MPL Orders for execution, as such orders shall not be viewed as removing liquidity from the NYSE Arca book. Secondly, consistent with the proposal to exempt Users submitting MPL Orders from any credits, the Exchange will not assess fees to Users submitting MPL Orders for execution, as such orders shall not be viewed as removing liquidity from the NYSE Arca book. Accordingly, MPL Orders will be exempted from fees that currently appear in the following sections of the Exchange’s Fee Schedule: NYSE ARCA MARKETPLACE: TRADE RELATED CHARGES and NYSE ARCA MARKETPLACE: MARKET MAKER FEES AND CHARGES. Finally, the Exchange proposes to amend the Fee Schedule to exempt Users from the $0.001 per share fee for any order routed to the New York Stock Exchange, L.L.C. (‘‘NYSE’’) if such order is for a security listed on the NYSE and is designated as a PSO. Accordingly, PSOs will be exempted from the $0.001 per share fee for orders routed outside the book to the NYSE that currently appears in the following section of the Exchange’s Fee Schedule: NYSE ARCA MARKETPLACE: TRADE RELATED CHARGES. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with section 6(b) of the Act 9 in general and furthers the objectives of section 6(b)(4) 10 in particular that it is intended to provide for the equitable allocation of reasonable dues, fees, and other charges among its members and other persons using its facilities. pwalker on PROD1PC71 with NOTICES B. Self Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will 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 proposed rule change is subject to section 19(b)(3)(A)(ii) of the Act 11 and subparagraph (f)(2) of Rule 19b–4 thereunder 12 because it establishes or changes a due, fee, or other charge applicable only to a member imposed by a self-regulatory organization. Accordingly, the proposal is effective upon Commission receipt of the filing. 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: 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–2007–82 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–NYSEArca–2007–82. 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, 100 F. Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of NYSE Arca. 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–2007–82 and should be submitted on or before September 18, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.13 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–16908 Filed 8–27–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56300; File No. SR– NYSEArca–2007–63; SR–NYSEArca–2007– 64] Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Arca, Inc. Relating to Conforming Amendments Involving the Deletion of Rule 10a–1 Under the Securities Exchange Act of 1934 August 22, 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 June 29, 2007, NYSE Arca, Inc. (the ‘‘Exchange’’), through its wholly owned subsidiary NYSE Arca Equities, Inc. (‘‘NYSE Arca Equities’’), filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule changes as described in Items I and II 13 17 9 15 U.S.C. 78f(b). 10 15 U.S.C. 78f(b)(4). VerDate Aug<31>2005 19:52 Aug 27, 2007 11 15 U.S.C. 78s(b)(3)(A)(ii). 12 17 CFR 240.19b–4(f)(2). Jkt 211001 PO 00000 Frm 00096 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\28AUN1.SGM 28AUN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 72, Number 166 (Tuesday, August 28, 2007)]
[Notices]
[Pages 49341-49342]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-16908]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56295; File No. SR-NYSEArca-2007-82]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change, as Modified by 
Amendment No. 1 Thereto, Amending Fees for the Entry of Mid-Point 
Passive Liquidity or Primary Sweep Orders

August 21, 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 August 3, 2007, NYSE Arca, Inc. (``NYSE Arca'' or the ``Exchange''), 
through its wholly owned subsidiary NYSE Arca Equities, Inc. (``NYSE 
Arca Equities''), filed with the Securities and Exchange Commission 
(the ``Commission'') the proposed rule change as described in Items I, 
II, and III below, which Items have been substantially prepared by the 
Exchange. On August 20, 2007, the Exchange submitted Amendment No. 1 to 
the proposed rule change.\3\ The Exchange filed the proposed rule 
change pursuant to section 19(b)(3)(A) of the Act \4\ and Rule 19b-
4(f)(2) thereunder,\5\ which renders it effective upon filing with the 
Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change, as amended, from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Amendment No. 1 replaced and superseded the original filing 
in its entirety.
    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ 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'') as it applies 
to orders submitted by Users \6\ designated as a (1) Mid-Point Passive 
Liquidity Order (``MPL Order'') \7\ or (2) Primary Sweep Order 
(``PSO'').\8\ The text of the proposed rule change is available at the 
Exchange, the Commission's Public Reference Room, and https://
www.nyse.com.
---------------------------------------------------------------------------

    \6\ See NYSE Arca Rule 1.1(yy) for the definition of ``User.''
    \7\ See NYSE Arca Equities Rule 7.31(h)(5). See also Securities 
Exchange Act Release No. 56072 (July 13, 2007), 72 FR 39867 (July 
20, 2007) (SR-NYSEArca-2007-61).
    \8\ See NYSE Arca Equities Rule 7.31(kk). See also Securities 
Exchange Act Release No. 55896 (June 11, 2007), 72 FR 33795 (June 
19, 2007) (SR-NYSEArca-2007-50)
---------------------------------------------------------------------------

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, NYSE Arca 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 
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 its Fee Schedule as it applies to 
Users submitting any order that is designated as either an MPL Order or 
PSO.
    First, with the adoption of the MPL Order and the changes to the 
Fee Schedule proposed herein, any order designated as an MPL Order 
shall not be eligible for a per share credit, if such order executes 
against an incoming marketable order, regardless of order

[[Page 49342]]

type. According to the proposal, MPL Orders will be exempted from 
credits that currently appear in the following sections of the 
Exchange's Fee Schedule: NYSE ARCA MARKETPLACE: TRADE RELATED CHARGES, 
NYSE ARCA MARKETPLACE: MARKET MAKER FEES AND CHARGES, and the ETP 
Holder Transaction Credit and Market Data Revenue Sharing Credit under 
NYSE ARCA MARKETPLACE: OTHER FEES AND CHARGES. Consistent with the 
proposal to exempt MPL Orders from any credits, the Exchange will not 
assess fees to ETP Holders submitting MPL Orders for execution, as such 
orders shall not be viewed as removing liquidity from the NYSE Arca 
book.
    Secondly, consistent with the proposal to exempt Users submitting 
MPL Orders from any credits, the Exchange will not assess fees to Users 
submitting MPL Orders for execution, as such orders shall not be viewed 
as removing liquidity from the NYSE Arca book. Accordingly, MPL Orders 
will be exempted from fees that currently appear in the following 
sections of the Exchange's Fee Schedule: NYSE ARCA MARKETPLACE: TRADE 
RELATED CHARGES and NYSE ARCA MARKETPLACE: MARKET MAKER FEES AND 
CHARGES.
    Finally, the Exchange proposes to amend the Fee Schedule to exempt 
Users from the $0.001 per share fee for any order routed to the New 
York Stock Exchange, L.L.C. (``NYSE'') if such order is for a security 
listed on the NYSE and is designated as a PSO. Accordingly, PSOs will 
be exempted from the $0.001 per share fee for orders routed outside the 
book to the NYSE that currently appears in the following section of the 
Exchange's Fee Schedule: NYSE ARCA MARKETPLACE: TRADE RELATED CHARGES.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
section 6(b) of the Act \9\ in general and furthers the objectives of 
section 6(b)(4) \10\ in particular that it is intended to provide for 
the equitable allocation of reasonable dues, fees, and other charges 
among its members and other persons using its facilities.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

B. Self Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
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 proposed rule change is subject to section 
19(b)(3)(A)(ii) of the Act \11\ and subparagraph (f)(2) of Rule 19b-4 
thereunder \12\ because it establishes or changes a due, fee, or other 
charge applicable only to a member imposed by a self-regulatory 
organization. Accordingly, the proposal is effective upon Commission 
receipt of the filing. 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.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \12\ 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-2007-82 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-NYSEArca-2007-82. 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, 100 F. Street, 
NE., Washington, DC 20549, on official business days between the hours 
of 10 a.m. and 3 p.m. Copies of such filing also will be available for 
inspection and copying at the principal office of NYSE Arca. 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-2007-82 and should 
be submitted on or before September 18, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-16908 Filed 8-27-07; 8:45 am]
BILLING CODE 8010-01-P

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