Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by the International Securities Exchange, LLC Relating to Amending the Fee Schedule, 16023-16024 [E9-7975]
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Federal Register / Vol. 74, No. 66 / Wednesday, April 8, 2009 / Notices
later than 60 days following
Commission approval. The effective
date will be 30 days following
publication of the Regulatory Notice
announcing Commission approval.
(B) Institute proceedings to determine
whether the proposed rule change
should be disapproved.
2. Statutory Basis
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:
IV. Solicitation of Comments
FINRA believes that the proposed rule
change is consistent with the provisions
of Section 15A(b)(6) of the Act,30 which
requires, among other things, that
FINRA rules must be designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, and, in
general, to protect investors and the
public interest; and Section 15A(b)(4) of
the Act,31 which requires that FINRA
rules be designed to assure a fair
representation of FINRA’s members in
the administration of its affairs. The
composition of the FINRA Board has
previously been found to meet the
statutory requirements, and FINRA
believes that the proposed rule change
will allow the representation of industry
members, as well as public members, on
the FINRA Regulation Board while
enabling the FINRA Regulation Board to
operate with a close connection to the
FINRA Board. The remaining changes
either conform to other changes made to
the By-Laws or acknowledge current
practices.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
FINRA does not believe that the
proposed rule change will result in 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 were neither
solicited nor received.
rwilkins on PROD1PC63 with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 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
90 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
30 15
31 15
U.S.C. 78o–3(b)(6).
U.S.C. 78o–3(b)(4).
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17:05 Apr 07, 2009
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16023
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.32
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–7978 Filed 4–7–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
Electronic Comments
[Release No. 34–59691; File No. SR–ISE–
2009–16]
• 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–FINRA–2009–020 on the
subject line.
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by the
International Securities Exchange, LLC
Relating to Amending the Fee
Schedule
April 2, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
• Send paper comments in triplicate
‘‘Act’’),1 and Rule 19b–4 thereunder,2
to Elizabeth M. Murphy, Secretary,
notice is hereby given that on March 27,
Securities and Exchange Commission,
2009, the International Securities
100 F Street, NE., Washington, DC
Exchange, LLC (the ‘‘Exchange’’ or the
20549–1090.
‘‘ISE’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
All submissions should refer to File
Number SR–FINRA–2009–020. This file the proposed rule change as described
in Items I, II and III below, which items
number should be included on the
subject line if e-mail is used. To help the have been prepared by the selfregulatory organization. The
Commission process and review your
Commission is publishing this notice to
comments more efficiently, please use
solicit comments on the proposed rule
only one method. The Commission will
change from interested persons.
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
I. Self-Regulatory Organization’s
rules/sro.shtml). Copies of the
Statement of the Terms of Substance of
submission, all subsequent
the Proposed Rule Change
amendments, all written statements
The Exchange is proposing to amend
with respect to the proposed rule
its Schedule of Fees with respect to
change that are filed with the
equity transactions. The text of the
Commission, and all written
proposed rule change is available on the
communications relating to the
Exchange’s Internet Web site at https://
proposed rule change between the
www.ise.com.
Commission and any person, other than
II. Self-Regulatory Organization’s
those that may be withheld from the
Statement of the Purpose of, and
public in accordance with the
Statutory Basis for, the Proposed Rule
provisions of 5 U.S.C. 552, will be
Change
available for inspection and copying in
the Commission’s Public Reference
In its filing with the Commission, the
Room, 100 F Street, NE., Washington,
self-regulatory organization included
DC 20549, on official business days
statements concerning the purpose of
between the hours of 10 a.m. and 3 p.m. and basis for the proposed rule change
Copies of the filing also will be available and discussed any comments it received
for inspection and copying at the
on the proposed rule change. The text
principal office of FINRA. All comments of those statements may be examined at
received will be posted without change; the places specified in Item IV below.
the Commission does not edit personal
The Exchange has prepared summaries,
identifying information from
set forth in sections A, B, and C below,
submissions. You should submit only
of the most significant parts of such
information that you wish to make
statements.
available publicly. All submissions
should refer to File Number SR–FINRA–
32 17 CFR 200.30–3(a)(12).
2009–020 and should be submitted on
1 15 U.S.C. 78s(b)(1).
or before April 29, 2009.
2 17 CFR 240.19b–4.
Paper Comments
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16024
Federal Register / Vol. 74, No. 66 / Wednesday, April 8, 2009 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Currently, the Exchange’s Schedule of
Fees for equity transactions includes a
rebate of $0.0035 per share for orders
that add liquidity in securities priced at
or above $1.00 (excluding both order
delivery and MidPoint Match orders)
that are reported to Tape B. The
Exchange is now proposing to lower
that rebate from $0.0035 to $0.003 per
share for orders that add liquidity in
securities priced at or above $1.00
(excluding both order delivery and
MidPoint Match orders) that are
reported to Tape B. The Exchange is
lowering this rebate in an effort to keep
its pricing competitive with other
exchanges. The aforementioned fee
change will become operative on April
1, 2009.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the objectives of Section 6 of the Act,3
in general, and furthers the objectives of
Section 6(b)(4),4 in particular, in that it
is designed to provide for the equitable
allocation of reasonable dues, fees and
other charges among its members and
other persons using its facilities. In
particular, lowering the rebate in Tape
B securities will allow the ISE’s pricing
to remain competitive with other
exchanges.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
rwilkins on PROD1PC63 with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
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)
of the Act 5 and Rule 19b–4(f)(2) 6
3 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
5 15 U.S.C. 78s(b)(3)(A).
6 17 CFR 19b–4(f)(2).
4 15
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17:05 Apr 07, 2009
Jkt 217001
thereunder. At any time within 60 days
of the filing of such 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.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–7975 Filed 4–7–09; 8:45 am]
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:
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
No. SR–ISE–2009–16 on the subject
line.
BILLING CODE 8010–01–P
[Release No. 34–59692; File No. SR–ISE–
2009–17]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by the
International Securities Exchange, LLC
Relating to Amending the Direct Edge
ECN Fee Schedule Applicable to
International Securities Exchange
Members
April 2, 2009.
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 March 27,
Paper Comments
2009, the International Securities
• Send paper comments in triplicate
Exchange, LLC (the ‘‘Exchange’’ or the
to Elizabeth M. Murphy, Secretary,
‘‘ISE’’) filed with the Securities and
Securities and Exchange Commission,
Exchange Commission (‘‘Commission’’)
100 F Street, NE., Washington, DC
the proposed rule change as described
20549–1090.
in Items I, II, and III below, which items
All submissions should refer to File
have been prepared by the selfNumber SR–ISE–2009–16. This file
regulatory organization. The
number should be included on the
Commission is publishing this notice to
subject line if e-mail is used. To help the
solicit comments on the proposed rule
Commission process and review your
change from interested persons.
comments more efficiently, please use
only one method. The Commission will I. Self-Regulatory Organization’s
post all comments on the Commissions
Statement of the Terms of Substance of
Internet Web site (https://www.sec.gov/
the Proposed Rule Change
rules/sro.shtml). Copies of the
The Exchange proposes to amend
submission, all subsequent
Direct Edge ECN’s (‘‘DECN’’) fee
amendments, all written statements
schedule for ISE Members to lower the
with respect to the proposed rule
rebate for orders that add liquidity on
change that are filed with the
EDGX in securities priced at or above
Commission, and all written
$1.00 that are reported to Tape B. The
communications relating to the
text of the proposed rule change is
proposed rule change between the
available on the Exchange’s Internet
Commission and any person, other than Web site at https://www.ise.com.
those that may be withheld from the
II. Self-Regulatory Organization’s
public in accordance with the
Statement of the Purpose of, and
provisions of 5 U.S.C. 552, will be
Statutory Basis for, the Proposed Rule
available for inspection and copying in
Change
the Commission’s Public Reference
Room. Copies of such filing also will be
In its filing with the Commission, the
available for inspection and copying at
self-regulatory organization included
the principal office of the ISE. All
statements concerning the purpose of,
comments received will be posted
and basis for, the proposed rule change
without change; the Commission does
and discussed any comments it received
not edit personal identifying
on the proposed rule change. The text
information from submissions. You
of these statements may be examined at
should submit only information that
the places specified in Item IV below.
you wish to make available publicly. All
submissions should refer to File
7 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
Number SR–ISE–2009–16 and should be
2 17 CFR 240.19b–4.
submitted by April 29, 2009.
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]]>Agencies
[Federal Register Volume 74, Number 66 (Wednesday, April 8, 2009)]
[Notices]
[Pages 16023-16024]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-7975]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59691; File No. SR-ISE-2009-16]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by the International Securities
Exchange, LLC Relating to Amending the Fee Schedule
April 2, 2009.
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 March 27, 2009, the International Securities Exchange, LLC (the
``Exchange'' or the ``ISE'') 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 self-
regulatory organization. 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 Exchange is proposing to amend its Schedule of Fees with
respect to equity transactions. The text of the proposed rule change is
available on the Exchange's Internet Web site at https://www.ise.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, 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.
[[Page 16024]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
Currently, the Exchange's Schedule of Fees for equity transactions
includes a rebate of $0.0035 per share for orders that add liquidity in
securities priced at or above $1.00 (excluding both order delivery and
MidPoint Match orders) that are reported to Tape B. The Exchange is now
proposing to lower that rebate from $0.0035 to $0.003 per share for
orders that add liquidity in securities priced at or above $1.00
(excluding both order delivery and MidPoint Match orders) that are
reported to Tape B. The Exchange is lowering this rebate in an effort
to keep its pricing competitive with other exchanges. The
aforementioned fee change will become operative on April 1, 2009.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\3\ in general, and
furthers the objectives of Section 6(b)(4),\4\ in particular, in that
it is designed to provide for the equitable allocation of reasonable
dues, fees and other charges among its members and other persons using
its facilities. In particular, lowering the rebate in Tape B securities
will allow the ISE's pricing to remain competitive with other
exchanges.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not 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
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
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) of the Act \5\ and Rule 19b-4(f)(2) \6\ thereunder. At any
time within 60 days of the filing of such 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.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 CFR 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 No. SR-ISE-2009-16 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-ISE-2009-16. 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 Commissions 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. Copies of such filing also will be
available for inspection and copying at the principal office of the
ISE. 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-ISE-
2009-16 and should be submitted by April 29, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-7975 Filed 4-7-09; 8:45 am]
BILLING CODE 8010-01-P
