Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Participant Fees and Assessments, 71049-71050 [E8-27881]

Download as PDF Federal Register / Vol. 73, No. 227 / Monday, November 24, 2008 / Notices necessary to comply with the requirements of Rule 19d–2 is 3 hours. Written comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Please direct your written comments to Lewis W. Walker, Acting Director/ Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: PRA_Mailbox@sec.gov . Dated: November 17, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–27886 Filed 11–21–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] Order of Suspension of Trading; 2TheMart.com, Inc., and The 3DO Co., Respondents sroberts on PROD1PC70 with NOTICES November 20, 2008. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of 2TheMart.com, Inc. because it has not filed any periodic reports since it filed a Form 10–Q for the period ended March 21, 2000. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of The 3DO Co. because it has not filed any periodic reports since it filed a Form 10–Q for the period ended December 31, 2002. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed companies, VerDate Aug<31>2005 19:32 Nov 21, 2008 Jkt 217001 is suspended for the period from 9:30 a.m. EST on November 20, 2008, through 11:59 p.m. EST on December 4, 2008. By the Commission. Jill M. Peterson Assistant Secretary. [FR Doc. E8–27939 Filed 11–20–08; 11:15 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–58966; File No. SR–CHX– 2008–15] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Participant Fees and Assessments November 17, 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 November 7, 2008, the Chicago Stock Exchange, Inc. (‘‘CHX’’ or the ‘‘Exchange’’) 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 the CHX. 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 Substance of the Proposed Rule Change The CHX proposes to amend its Schedule of Participant Fees and Assessments (the ‘‘Fee Schedule’’) to alter the take/provide charges for Tape B securities. The text of this proposed rule change is available on the Exchange’s Web site at http:// www.chx.com/rules/ proposed_rules.htm, at the principal office of the Exchange, and in 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 CHX included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received regarding the proposal. The text of these statements may be examined at the places specified in Item IV below. The CHX has prepared 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00097 Fmt 4703 Sfmt 4703 71049 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 Changes 1. Purpose Through this filing, the Exchange would amend its Fee Schedule to discontinue the existing program setting forth a higher provide credit of $0.0036/ share for transactions in Tape B securities if certain volume thresholds had been met. Moreover, the transaction fee for liquidity takers in Tape B securities is being raised to $0.0030/ share from the current level of $0.0029/ share. All liquidity providers in Tape B securities would qualify for a credit of $0.0032/share, regardless of its average daily trading volume. The Exchange believes that these proposed fee changes are more consistent with its long-term goals of incenting firms to trade using our facilities at rates which do not expose the Exchange to potential losses or capital outlays. 2. Statutory Basis The Exchange believes that the rule changes proposed in this submission are consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6(b). The proposed rule change is consistent with Section 6(b)(4) of the Act in that it provides for the equitable allocation of reasonable dues, fees and other charges among its Participants. The proposed increase in the liquidity takers fee in Tape B securities is of $0.0001/share, which is a relatively modest amount. The increased revenue will be used to fund the Exchange’s existing operations, which may in turn benefit its Participants. Finally, the discontinuance of the two-tiered fee structure for liquidity providers in Tape B securities fee streamlines the Exchange’s Fee Schedule and related billing structure, as well as eliminates a program which potentially exposed the Exchange to large and costly rebates to Participant firms. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule changes will impose any burden on competition. E:\FR\FM\24NON1.SGM 24NON1 71050 Federal Register / Vol. 73, No. 227 / Monday, November 24, 2008 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Changes and Timing for Commission Action The foregoing rule change establishes or changes a due, fee or other charge imposed by the Exchange and therefore has become effective pursuant to Section 19(B)(3)(A) of the Act 3 and subparagraph (f)(2) of Rule 19b–4 thereunder.4 At any time within 60 days of the filing of such 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 purpose 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: sroberts on PROD1PC70 with NOTICES Electronic Comments • 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–CHX–2008–15 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–CHX–2008–15. 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, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of the filing also will be available for inspection and copying at the principal office of the Exchange. 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–CHX–2008–15 and should be submitted on or before December 15, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.5 Florence E. Harmon, Acting Secretary. [FR Doc. E8–27881 Filed 11–21–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–58969; File No. SR–NYSE– 2008–119] Self-Regulatory Organizations; Notice of Filing of Proposed Rule Change by New York Stock Exchange LLC To Establish the New York Block Exchange November 17, 2008. 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 November 13, 2008, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) 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 prepared by the self-regulatory organization. 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 Substance of the Proposed Rule Change The Exchange proposes to adopt Exchange Rule 1600 to establish the 4 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). VerDate Aug<31>2005 19:32 Nov 21, 2008 Jkt 217001 PO 00000 Frm 00098 Fmt 4703 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 self-regulatory organization 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 those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts 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 seeks to establish the NYBX Facility to provide its customers with the ability to aggregate multiple sources of liquidity and to facilitate trading in block-sized orders. This electronic, anonymous trading facility will also allow customers to execute smaller orders and have quick access to multiple price points of displayed liquidity to meet size and price execution requirements. The Facility allows for the interaction of nondisplayed orders with the aggregate of displayed and non-displayed orders of the NYSE Display Book and the National Best Bid and Best Offer and considers protected quotations of all automated trading centers in compliance with Regulation NMS. The Facility will trade only securities listed on the NYSE (Tape A eligible securities). NYBX orders will not effect an execution except as permitted by Rule 611 (Regulation NMS).3 Thus, NYBX 3 See Securities Exchange Act Release No. 51808 (June 9, 2005), 70 FR 37496 (June 29, 2005). When NYBX orders are calculated to be the midpoint of the NBBO, no trade-through executions will occur 5 17 3 15 New York Block Exchange (‘‘NYBX Facility’’ or the ‘‘Facility’’). NYBX will be an electronic facility of the Exchange to provide for the continuous matching and execution of securities listed on the NYSE of all non-displayed orders with the aggregate of all displayed and nondisplayed orders of the NYSE Display Book  (‘‘Display Book’’ or ‘‘DBK’’) while also considering protected quotations of all automated trading centers. The text of the proposed rule change is available at http://www.nyse.com, NYSE’s principal office, and the Commission’s Public Reference Room. Sfmt 4703 E:\FR\FM\24NON1.SGM 24NON1

Agencies

[Federal Register Volume 73, Number 227 (Monday, November 24, 2008)]
[Notices]
[Pages 71049-71050]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-27881]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58966; File No. SR-CHX-2008-15]


Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to Participant Fees and Assessments

November 17, 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 November 7, 2008, the Chicago Stock Exchange, Inc. (``CHX'' or the 
``Exchange'') 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 the CHX. 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

    The CHX proposes to amend its Schedule of Participant Fees and 
Assessments (the ``Fee Schedule'') to alter the take/provide charges 
for Tape B securities. The text of this proposed rule change is 
available on the Exchange's Web site at http://www.chx.com/rules/proposed_rules.htm, at the principal office of the Exchange, and in 
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 CHX included statements 
concerning the purpose of, and basis for, the proposed rule change and 
discussed any comments it received regarding the proposal. The text of 
these statements may be examined at the places specified in Item IV 
below. The CHX 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 Changes

1. Purpose
    Through this filing, the Exchange would amend its Fee Schedule to 
discontinue the existing program setting forth a higher provide credit 
of $0.0036/share for transactions in Tape B securities if certain 
volume thresholds had been met. Moreover, the transaction fee for 
liquidity takers in Tape B securities is being raised to $0.0030/share 
from the current level of $0.0029/share. All liquidity providers in 
Tape B securities would qualify for a credit of $0.0032/share, 
regardless of its average daily trading volume. The Exchange believes 
that these proposed fee changes are more consistent with its long-term 
goals of incenting firms to trade using our facilities at rates which 
do not expose the Exchange to potential losses or capital outlays.
2. Statutory Basis
    The Exchange believes that the rule changes proposed in this 
submission are consistent with the requirements of the Act and the 
rules and regulations thereunder that are applicable to a national 
securities exchange, and, in particular, with the requirements of 
Section 6(b). The proposed rule change is consistent with Section 
6(b)(4) of the Act in that it provides for the equitable allocation of 
reasonable dues, fees and other charges among its Participants. The 
proposed increase in the liquidity takers fee in Tape B securities is 
of $0.0001/share, which is a relatively modest amount. The increased 
revenue will be used to fund the Exchange's existing operations, which 
may in turn benefit its Participants. Finally, the discontinuance of 
the two-tiered fee structure for liquidity providers in Tape B 
securities fee streamlines the Exchange's Fee Schedule and related 
billing structure, as well as eliminates a program which potentially 
exposed the Exchange to large and costly rebates to Participant firms.

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

    The Exchange does not believe that the proposed rule changes will 
impose any burden on competition.

[[Page 71050]]

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Changes and Timing for 
Commission Action

    The foregoing rule change establishes or changes a due, fee or 
other charge imposed by the Exchange and therefore has become effective 
pursuant to Section 19(B)(3)(A) of the Act \3\ and subparagraph (f)(2) 
of Rule 19b-4 thereunder.\4\ At any time within 60 days of the filing 
of such 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 purpose of the Act.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 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 (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-CHX-2008-15 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-CHX-2008-15. 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, 100 F Street, NE., 
Washington, DC 20549, on official business days between the hours of 10 
a.m. and 3 p.m. Copies of the filing also will be available for 
inspection and copying at the principal office of the Exchange. 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-CHX-2008-15 and should be 
submitted on or before December 15, 2008.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\5\
---------------------------------------------------------------------------

    \5\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-27881 Filed 11-21-08; 8:45 am]
BILLING CODE 8011-01-P