Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Relating to Reformatting Its Fee Schedule, 8134-8135 [E9-3740]

Download as PDF 8134 Federal Register / Vol. 74, No. 34 / Monday, February 23, 2009 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59402; File No. SR–Phlx– 2009–08] Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Relating to Reformatting Its Fee Schedule February 13, 2009. 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 January 29, 2009, NASDAQ OMX PHLX, Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. On February 9, 2009, Phlx submitted Amendment No. 1 to the proposed rule change. The Commission is publishing this notice to solicit comments on the proposed rule change, as modified by Amendment No. 1, from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its existing NASDAQ OMX PHLX, Inc. Fee Schedule (‘‘fee schedule’’) solely to create a more user-friendly fee schedule. The text of the proposed rule change is available on the Exchange’s Web site at https://www.nasdaqtrader.com/ micro.aspx?id=PHLXRulefilings, at the principal office of the Exchange, and at the Commission’s Public Reference Room. jlentini on PROD1PC65 with NOTICES 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. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Nov<24>2008 16:31 Feb 20, 2009 Jkt 217001 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of the proposed rule change is to reformat the fee schedule to make it more user-friendly. The newly proposed fee schedule includes the current fees, which remain unchanged. In the process of reformatting the schedule, additional connecting language was added where appropriate to provide clarity to the end-user. The proposal eliminates the current footnotes and reference symbols. The Exchange believes that by placing the language that is currently contained in footnotes and noted by symbols into the text of the fees and endnotes better displays any exceptions or exclusions referenced in those footnotes or symbols by more prominently displaying them in the text. Additional non-substantive language has been added where appropriate because the Exchange removed the symbol references and footnotes and created sentences from those symbols and footnotes in order to explain the related text that was once referenced by the footnote or symbol. For example, in the Streaming Quote Trading [sic] fees the applicability of the permit credit is spelled out under each specific fee. Previously, these exceptions were referenced in footnotes so the reader had to further search the fee schedule to learn of the applicability of the permit credit. The proposal makes clarifying changes to the Streaming Quote Trader Fees (‘‘SQT’’) and the Remote Streaming Quote Trader Fees (‘‘RSQT’’) in proposed endnotes 35 and 40. In the current fee schedule the footnotes analogous to proposed notes 35 and 40 appear in connection with categories I and II of the SQT fees and next to category I of the RSQT fees. The Exchange would like to clarify the placement of these footnotes as applicable to all SQT and RSQT fees respectively.3 Finally, the proposed fee schedule has added more headers for clarity and to better indicate the categories of fees. This proposed fee schedule makes additional references throughout the fee schedule to current footnote 15, which indicates who qualifies as a broker3 See Securities Exchange Act Release Nos. 51453 (March 30, 2005), 70 FR 17495 (April 6, 2005) (SR– Phlx–2005–16) (adopting fees applicable to Streaming Quote Traders); 51428 (March 24, 2005), 70 FR 16325 (March 30, 2005) (SR–Phlx–2005–12) (adopting fees applicable to Remote Streaming Quote Traders). PO 00000 Frm 00083 Fmt 4703 Sfmt 4703 dealer. Also, the first page of the proposed fee schedule displays the various categories for quick reference and clarification. These proposed changes, as previously mentioned, are non-substantive amendments and are added for the sole purpose of creating a simplified, easily readable format for displaying the various fees. 2. Statutory Basis The Exchange believes that its proposal is consistent with Section 6(b) of the Act 4 in general, and furthers the objectives of Section 6(b)(5) of the Act 5 in particular, in that it is designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general to protect investors and the public interest, by providing the members with a more user-friendly fee schedule to better display the allocation of fees among Exchange members. The Exchange believes that this proposed format will provide additional transparency of Exchange fees. 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 Exchange Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change is effective upon filing pursuant to Section 19(b)(3)(A)(ii) of the Act 6 and Rule 19b– 4(f)(2) thereunder,7 because it establishes or changes a due, fee, or other charge applicable only to a member 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, 4 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 6 15 U.S.C. 78s(b)(3)(A)(ii). 7 17 CFR 240.19b–4(f)(2). 5 15 E:\FR\FM\23FEN1.SGM 23FEN1 Federal Register / Vol. 74, No. 34 / Monday, February 23, 2009 / Notices 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 Paper Comments jlentini on PROD1PC65 with NOTICES • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–Phlx–2009–08. 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 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, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing will also 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 No. SR–Phlx–2009– 08 and should be submitted on or before March 16, 2009. 16:31 Feb 20, 2009 BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #11645 and #11646] • 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–Phlx–2009–08 on the subject line. VerDate Nov<24>2008 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–3740 Filed 2–20–09; 8:45 am] Jkt 217001 Arkansas Disaster Number AR–00028 AGENCY: U.S. Small Business Administration. ACTION: Amendment 2. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of Arkansas (FEMA–1819–DR), dated 02/06/2009. Incident: Severe Winter Storm. Incident Period: 01/26/2009 through 01/30/2009. Effective Date: 02/12/2009. Physical Loan Application Deadline Date: 04/07/2009. Economic Injury (EIDL) Loan Application Deadline Date: 11/06/2009. DATES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. ADDRESSES: FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. The notice of the President’s major disaster declaration for Private Non-Profit organizations in the State of Arkansas, dated 02/06/2009, is hereby amended to establish the incident period for this disaster as beginning 01/26/2009 and continuing through 01/30/2009. All other information in the original declaration remains unchanged. SUPPLEMENTARY INFORMATION: (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Acting Associate Administrator for Disaster Assistance. [FR Doc. E9–3745 Filed 2–20–09; 8:45 am] BILLING CODE 8025–01–P 8 17 PO 00000 CFR 200.30–3(a)(12). Frm 00084 Fmt 4703 Sfmt 4703 8135 SMALL BUSINESS ADMINISTRATION [Disaster Declaration #11645 and #11646] Arkansas Disaster Number AR–00028 AGENCY: U.S. Small Business Administration. ACTION: Amendment 1. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of Arkansas (FEMA–1819–DR), dated 02/06/2009. Incident: Severe Winter Storm. Incident Period: 01/26/2009 and continuing. DATES: Effective Date: 02/11/2009. Physical Loan Application Deadline Date: 04/07/2009. Economic Injury (EIDL) Loan Application Deadline Date: 11/06/2009. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416 SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for Private Non-Profit organizations in the State of Arkansas, dated 02/06/2009, is hereby amended to include the following areas as adversely affected by the disaster. Primary Counties: Cleburne, Conway, Crawford, Cross, Poinsett, Randolph. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E9–3744 Filed 2–20–09; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #11652 and #11653] Washington Disaster #WA–00021 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of Washington (FEMA–1817– DR), dated 01/30/2009. Incident: Severe Winter Storm, Landslides, Mudslides, and Flooding. E:\FR\FM\23FEN1.SGM 23FEN1

Agencies

[Federal Register Volume 74, Number 34 (Monday, February 23, 2009)]
[Notices]
[Pages 8134-8135]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-3740]



[[Page 8134]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59402; File No. SR-Phlx-2009-08]


Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change, as Modified 
by Amendment No. 1 Thereto, Relating to Reformatting Its Fee Schedule

February 13, 2009.
    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 January 29, 2009, NASDAQ OMX PHLX, Inc. (``Phlx'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I and II below, which Items 
have been substantially prepared by the Exchange. On February 9, 2009, 
Phlx submitted Amendment No. 1 to the proposed rule change. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change, as modified by Amendment No. 1, 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 Exchange proposes to amend its existing NASDAQ OMX PHLX, Inc. 
Fee Schedule (``fee schedule'') solely to create a more user-friendly 
fee schedule.
    The text of the proposed rule change is available on the Exchange's 
Web site at https://www.nasdaqtrader.com/micro.aspx?id=PHLXRulefilings, 
at the principal office of the Exchange, 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, 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. 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 purpose of the proposed rule change is to reformat the fee 
schedule to make it more user-friendly. The newly proposed fee schedule 
includes the current fees, which remain unchanged. In the process of 
reformatting the schedule, additional connecting language was added 
where appropriate to provide clarity to the end-user. The proposal 
eliminates the current footnotes and reference symbols. The Exchange 
believes that by placing the language that is currently contained in 
footnotes and noted by symbols into the text of the fees and endnotes 
better displays any exceptions or exclusions referenced in those 
footnotes or symbols by more prominently displaying them in the text.
    Additional non-substantive language has been added where 
appropriate because the Exchange removed the symbol references and 
footnotes and created sentences from those symbols and footnotes in 
order to explain the related text that was once referenced by the 
footnote or symbol. For example, in the Streaming Quote Trading [sic] 
fees the applicability of the permit credit is spelled out under each 
specific fee. Previously, these exceptions were referenced in footnotes 
so the reader had to further search the fee schedule to learn of the 
applicability of the permit credit.
    The proposal makes clarifying changes to the Streaming Quote Trader 
Fees (``SQT'') and the Remote Streaming Quote Trader Fees (``RSQT'') in 
proposed endnotes 35 and 40. In the current fee schedule the footnotes 
analogous to proposed notes 35 and 40 appear in connection with 
categories I and II of the SQT fees and next to category I of the RSQT 
fees. The Exchange would like to clarify the placement of these 
footnotes as applicable to all SQT and RSQT fees respectively.\3\
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release Nos. 51453 (March 30, 
2005), 70 FR 17495 (April 6, 2005) (SR-Phlx-2005-16) (adopting fees 
applicable to Streaming Quote Traders); 51428 (March 24, 2005), 70 
FR 16325 (March 30, 2005) (SR-Phlx-2005-12) (adopting fees 
applicable to Remote Streaming Quote Traders).
---------------------------------------------------------------------------

    Finally, the proposed fee schedule has added more headers for 
clarity and to better indicate the categories of fees. This proposed 
fee schedule makes additional references throughout the fee schedule to 
current footnote 15, which indicates who qualifies as a broker-dealer. 
Also, the first page of the proposed fee schedule displays the various 
categories for quick reference and clarification. These proposed 
changes, as previously mentioned, are non-substantive amendments and 
are added for the sole purpose of creating a simplified, easily 
readable format for displaying the various fees.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section 
6(b) of the Act \4\ in general, and furthers the objectives of Section 
6(b)(5) of the Act \5\ in particular, in that it is designed to promote 
just and equitable principles of trade, to remove impediments to and 
perfect the mechanism of a free and open market and a national market 
system, and, in general to protect investors and the public interest, 
by providing the members with a more user-friendly fee schedule to 
better display the allocation of fees among Exchange members. The 
Exchange believes that this proposed format will provide additional 
transparency of Exchange fees.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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 Exchange Act.

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

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The foregoing proposed rule change is effective upon filing 
pursuant to Section 19(b)(3)(A)(ii) of the Act \6\ and Rule 19b-4(f)(2) 
thereunder,\7\ because it establishes or changes a due, fee, or other 
charge applicable only to a member 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,

[[Page 8135]]

or otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \7\ 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-Phlx-2009-08 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-Phlx-2009-08. 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 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, on official business 
days between the hours of 10 a.m. and 3 p.m. Copies of such filing will 
also 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 No. SR-Phlx-
2009-08 and should be submitted on or before March 16, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-3740 Filed 2-20-09; 8:45 am]
BILLING CODE 8011-01-P
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