Self-Regulatory Organizations; the National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Fee Schedule, 11970-11971 [E8-4171]
Download as PDF
<![CDATA[
11970
Federal Register / Vol. 73, No. 44 / Wednesday, March 5, 2008 / 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
Number SR–ISE–2008–18 on the subject
line.
Paper Comments
jlentini on PROD1PC65 with NOTICES
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57385; File No. SR–NSCC–
2007–17]
Self-Regulatory Organizations; the
National Securities Clearing
Corporation; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Relating to the Fee
Schedule
February 27, 2008.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
December 31, 2007, the National
Securities Clearing Corporation
All submissions should refer to File
(‘‘NSCC’’) filed with the Securities and
Number SR–ISE–2008–18. This file
Exchange Commission (‘‘Commission’’)
number should be included on the
subject line if e-mail is used. To help the the proposed rule change as described
in Items I, II, and III below, which items
Commission process and review your
have been prepared primarily by NSCC.
comments more efficiently, please use
The Commission is publishing this
only one method. The Commission will
notice to solicit comments on the
post all comments on the Commission’s proposed rule change from interested
Internet Web site (https://www.sec.gov/
persons.
rules/sro.shtml). Copies of the
I. Self-Regulatory Organization’s
submission, all subsequent
Statement of the Terms of Substance of
amendments, all written statements
the Proposed Rule Change
with respect to the proposed rule
change that are filed with the
The proposed rule change modifies
Commission, and all written
NSCC’s fee schedule.
communications relating to the
II. Self-Regulatory Organization’s
proposed rule change between the
Statement of the Purpose of, and
Commission and any person, other than Statutory Basis for, the Proposed Rule
those that may be withheld from the
Change
public in accordance with the
In its filing with the Commission,
provisions of 5 U.S.C. 552, will be
NSCC included statements concerning
available for inspection and copying in
the purpose of and basis for the
the Commission’s Public Reference
proposed rule change and discussed any
Room, 100 F Street, NE., Washington,
comments it received on the proposed
DC 20549, on official business days
rule change. The text of these statements
between the hours of 10 a.m. and 3 p.m.
may be examined at the places specified
Copies of the filing also will be available in Item IV below. NSCC has prepared
for inspection and copying at the
summaries, set forth in sections (A), (B),
principal office of the Exchange. All
and (C) below, of the most significant
comments received will be posted
aspects of such statements.2
without change; the Commission does
(A) Self-Regulatory Organization’s
not edit personal identifying
Statement of the Purpose of, and
information from submissions. You
Statutory Basis for, the Proposed Rule
should submit only information that
you wish to make available publicly. All Change
The purpose of the proposed rule
submissions should refer to File
Number SR–ISE–2008–18 and should be change is to revise fees for certain
services provided by NSCC. These
submitted on or before March 26, 2008.
revisions include the following fee
For the Commission, by the Division of
changes to align fees with costs of
Trading and Markets, pursuant to delegated
delivering services:
11
authority.
1. Implementation of a restructured
Florence E. Harmon,
clearing fee model, changing from the
Deputy Secretary.
current solely transaction-based pricing
[FR Doc. E8–4177 Filed 3–4–08; 8:45 am]
structure to a methodology that
combines the number of transactions
BILLING CODE 8011–01–P
1 15
U.S.C. 78s(b)(1).
Commission has modified parts of these
statements.
2 The
11 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
18:03 Mar 04, 2008
Jkt 214001
PO 00000
Frm 00112
Fmt 4703
Sfmt 4703
processed with the value of those
transactions;
2. reductions in Automated Customer
Account Transfer Services (ACATS) fee;
3. reductions in Fund/SERV and
Networking fees;
4. elimination of Insurance and
Retirement Processing Services file fees;
and
5. introduction of new fees for a new
Funds Transfers service to be
introduced in 2008 under NSCC’s
Insurance and Retirement Processing
Services product line.
NSCC’s fee schedule as it is being
modified by this proposed rule change
is attached as Exhibit 5 to NSCC’s
filing.3 Unless otherwise noted in
Exhibit 5, the proposed fee changes
became effective on January 2, 2008.
The proposed rule change is
consistent with the requirements of
Section 17A of the Act and the rules and
regulations thereunder, because it
provides for the equitable allocation of
fees among its participants.
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
NSCC does not believe that the
proposed rule change will have any
impact, or impose any burden, on
competition.
(C) Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments relating to the
proposed rule change have not yet been
solicited or received. NSCC will notify
the Commission of any written
comments received by NSCC.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change
changes fees charged by NSCC, it has
become effective pursuant to section
19(b)(3)(A)(ii) of the Act 4 and Rule 19b–
4(f)(2) 5 thereunder. At any time within
sixty 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.
3 File No. SR–NSCC–2007–17, including Exhibit
5, can be viewed at https://www.dtcc.com/
downloads/legal/rule_filings/2007/nscc/200717.pdf.
4 15 U.S.C. 78s(b)(3)(A)(ii).
5 17 CFR 240.19b–4(f)(2).
E:\FR\FM\05MRN1.SGM
05MRN1
Federal Register / Vol. 73, No. 44 / Wednesday, March 5, 2008 / Notices
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:
BILLING CODE 8011–01–P
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–NSCC–2007–17 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.
jlentini on PROD1PC65 with NOTICES
For the Commission by the Division of
Trading and Markets, pursuant to delegated
authority.6
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–4171 Filed 3–4–08; 8:45 am]
[Release No. 34–57390; File No. SR–NSX–
2008–02]
Self-Regulatory Organizations;
National Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of a Proposed Rule Change and
Amendment No. 1 Thereto Relating to
the Pass-Through of Certain Costs to
ETP Holders
February 27, 2008.
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 February
5, 2008, the National Stock Exchange,
All submissions should refer to File
Inc. (‘‘NSX’’ or the ‘‘Exchange’’) filed
Number SR–NSCC–2007–17. This file
with the Securities and Exchange
number should be included on the
subject line if e-mail is used. To help the Commission (‘‘Commission’’) the
proposed rule change as described in
Commission process and review your
Items I, II, and III below, which Items
comments more efficiently, please use
only one method. The Commission will have been prepared substantially by the
post all comments on the Commission’s Exchange. On February 27, 2008, NSX
filed Amendment No. 1 to the proposed
Internet Web site (https://www.sec.gov/
rule change to make certain clarifying
rules/sro.shtml). Copies of the
changes to the description of its
submission, all subsequent
proposal. NSX has designated this
amendments, all written statements
proposal as one establishing or changing
with respect to the proposed rule
a member due, fee, or other charge
change that are filed with the
imposed by NSX under Section
Commission, and all written
19(b)(3)(A)(ii) of the Act 3 and Rule 19b–
communications relating to the
4(f)(2) thereunder,4 which renders the
proposed rule change between the
proposal effective upon filing with the
Commission and any person, other than Commission. The Commission is
those that may be withheld from the
publishing this notice to solicit
public in accordance with the
comments on the proposed rule change,
provisions of 5 U.S.C. 552, will be
as amended, from interested persons.
available for inspection and copying in
I. Self-Regulatory Organization’s
the Commission’s Public Reference
Statement of the Terms of Substance of
Room, 100 F Street, NE., Washington,
the Proposed Rule Change
DC 20549, on official business days
NSX proposes to amend the NSX
between the hours of 10 a.m. and 3 p.m.
BLADE SM Fee and Rebate Schedule to
Copies of such filing also will be
give the Exchange the explicit authority
available for inspection and copying at
to pass through to a specific ETP Holder
the principal office of NSCC. All
costs that are assessed to the Exchange
comments received will be posted
by a third party that are attributable to
without change; the Commission does
that particular ETP Holder for its use of
not edit personal identifying
the facilities of the Exchange. The text
information from submissions. You
of the proposed rule change is available
should submit only information that
at www.nsx.com, the principal offices of
you wish to make available publicly. All
submissions should refer to File
6 17 CFR 200.30–3(a)(12).
Number SR–NSCC–2007–17 and should
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
be submitted on or before March 26,
3 15 U.S.C. 78s(b)(3)(A)(ii).
2008.
4 17
VerDate Aug<31>2005
18:03 Mar 04, 2008
Jkt 214001
PO 00000
CFR 240.19b–4(f)(2).
Frm 00113
Fmt 4703
Sfmt 4703
11971
the Exchange, 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, 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. NSX
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
With this rule change, the Exchange is
proposing that the NSX BLADE Fee
Schedule be amended to give the
Exchange the explicit authority to pass
through to a specific ETP Holder 5 costs
that are assessed to the Exchange by a
third party vendor that are attributable
to that particular ETP Holder for its use
of the facilities of the Exchange. These
costs include line connectivity and
other technological charges and/or
upgrades assessed for the ETP Holder’s
communications with the Exchange, in
connection with the Cross Connect
service defined below.
The Exchange currently offers ETP
Holders the option of connecting to the
Exchange through a direct connection, a
service provider or through an extranet
provider. ETP Holders electing a direct
connection to the Exchange that do not
utilize a circuit/line obtained from the
third party vendor that houses the
Exchange’s data center must be
connected to the Exchange through a
line or circuit provided by that vendor
(hereinafter the ‘‘Cross Connect’’
service). The third party vendor charges
fees associated with this Cross Connect
service (the ‘‘Cross Connect Fee
Schedule’’). It should be noted that the
third party vendor does not charge a
Cross Connect fee for any ETP Holder
that utilizes the vendor’s circuits.
The Cross Connect Fee Schedule
includes a one-time installation charge
per circuit or line, and monthly fees
which vary depending on the different
5 An ETP Holder is a registered broker or dealer
that has been issued an Equity Trading Permit
(‘‘ETP’’) by NSX. An ETP Holder will have the
status of a ‘‘member’’ of the Exchange as that term
is defined in Section 3(a)(3) of the Act (15 U.S.C.
78c(a)(3)).
E:\FR\FM\05MRN1.SGM
05MRN1
]]>Agencies
[Federal Register Volume 73, Number 44 (Wednesday, March 5, 2008)]
[Notices]
[Pages 11970-11971]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-4171]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57385; File No. SR-NSCC-2007-17]
Self-Regulatory Organizations; the National Securities Clearing
Corporation; Notice of Filing and Immediate Effectiveness of a Proposed
Rule Change Relating to the Fee Schedule
February 27, 2008.
Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ notice is hereby given that on December 31, 2007, the
National Securities Clearing Corporation (``NSCC'') 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 primarily by NSCC. 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).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The proposed rule change modifies NSCC's fee schedule.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of such
statements.\2\
---------------------------------------------------------------------------
\2\ The Commission has modified parts of these statements.
---------------------------------------------------------------------------
(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
The purpose of the proposed rule change is to revise fees for
certain services provided by NSCC. These revisions include the
following fee changes to align fees with costs of delivering services:
1. Implementation of a restructured clearing fee model, changing
from the current solely transaction-based pricing structure to a
methodology that combines the number of transactions processed with the
value of those transactions;
2. reductions in Automated Customer Account Transfer Services
(ACATS) fee;
3. reductions in Fund/SERV and Networking fees;
4. elimination of Insurance and Retirement Processing Services file
fees; and
5. introduction of new fees for a new Funds Transfers service to be
introduced in 2008 under NSCC's Insurance and Retirement Processing
Services product line.
NSCC's fee schedule as it is being modified by this proposed rule
change is attached as Exhibit 5 to NSCC's filing.\3\ Unless otherwise
noted in Exhibit 5, the proposed fee changes became effective on
January 2, 2008.
---------------------------------------------------------------------------
\3\ File No. SR-NSCC-2007-17, including Exhibit 5, can be viewed
at https://www.dtcc.com/downloads/legal/rule_filings/2007/nscc/2007-
17.pdf.
---------------------------------------------------------------------------
The proposed rule change is consistent with the requirements of
Section 17A of the Act and the rules and regulations thereunder,
because it provides for the equitable allocation of fees among its
participants.
(B) Self-Regulatory Organization's Statement on Burden on Competition
NSCC does not believe that the proposed rule change will have any
impact, or impose any burden, on competition.
(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received From Members, Participants, or Others
Written comments relating to the proposed rule change have not yet
been solicited or received. NSCC will notify the Commission of any
written comments received by NSCC.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change changes fees charged by NSCC, it
has become effective pursuant to section 19(b)(3)(A)(ii) of the Act \4\
and Rule 19b-4(f)(2) \5\ thereunder. At any time within sixty 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.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78s(b)(3)(A)(ii).
\5\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
[[Page 11971]]
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-NSCC-2007-17 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-NSCC-2007-17. 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 NSCC. 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-NSCC-2007-17 and should be
submitted on or before March 26, 2008.
For the Commission by the Division of Trading and Markets,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-4171 Filed 3-4-08; 8:45 am]
BILLING CODE 8011-01-P
