Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Implementing Revised Liquidity Credits for Supplemental Liquidity Providers, 17241-17242 [E9-8415]
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Federal Register / Vol. 74, No. 70 / Tuesday, April 14, 2009 / Notices
Dated: April 9, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–8480 Filed 4–13–09; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[Investment Company Act Release No.
28650A; 812–13538]
ING Investments, LLC, et al.; Notice of
Application; Correction
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8010–01–P
1. Purpose
Correction
In the Federal Register of March 24,
2009, in FR Doc. E9–6391, on page
12407 of volume 74, in the second
column, the date should read March 17,
2009.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59710; File No. SR–NYSE–
2009–39]
Dated: April 8, 2009.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–8427 Filed 4–13–09; 8:45 am]
BILLING CODE 8010–01–P
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Implementing
Revised Liquidity Credits for
Supplemental Liquidity Providers
April 6, 2009.
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a closed meeting
on Thursday, April 16, 2009 at 2 p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the closed meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (5), (7), 9(B) and (10)
and 17 CFR 200.402(a)(3), (5), (7), 9(ii)
and (10), permit consideration of the
scheduled matters at the closed meeting.
Commissioner Walter, as duty officer,
voted to consider the items listed for the
closed meeting in closed session.
The subject matter of the closed
meeting scheduled for Thursday, April
16, 2009 will be:
Consideration of amicus participation;
institution and settlement of injunctive
actions; institution and settlement of
administrative proceedings of an
enforcement nature; an adjudicatory
matter; and other matters relating to
enforcement proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
VerDate Nov<24>2008
16:39 Apr 13, 2009
Jkt 217001
17241
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 March 31,
2009, the New York Stock Exchange
LLC (‘‘NYSE’’ or ‘‘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 Exchange.
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 implement
revised liquidity credits for
Supplemental Liquidity Providers
(‘‘SLPs’’). 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, 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
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00099
Fmt 4703
Sfmt 4703
The Exchange proposes to modify the
credits received by supplemental
liquidity providers (‘‘SLPs’’) when
adding liquidity to the Exchange, with
effect from April 1, 2009. Currently,
SLPs receive a credit of $0.0015 per
share when adding liquidity to the
NYSE if the SLP meets the 3% average
or more quoting requirement in an
assigned security pursuant to Rule
107B. With effect from April 1, 2009,
there will be three separate tiers of
credits for SLPs that meet the 3%
average or more quoting requirement in
an assigned security pursuant to Rule
107B:
• SLPs that add liquidity of an
average daily volume (‘‘ADV’’) 3 of 100
million shares or less in the applicable
month will continue to receive a credit
of $0.0015 per share when adding
liquidity to the NYSE.
• SLPs that add liquidity of an ADV
of between 100 million shares and 250
million shares in the applicable month
will receive a credit of $0.0016 per share
when adding liquidity to the NYSE.
• SLPs that add liquidity of an ADV
of more than 250 million shares in the
applicable month will receive a credit of
$0.0017 per share when adding liquidity
to the NYSE.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,4
in general, and Section 6(b)(4) of the
Act,5 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.
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.
3 Qualification for the different tiers of liquidity
credits will be based on the SLP’s aggregate average
daily trading volume in the applicable month in all
NYSE listed securities. See e-mail from John Carey,
Chief Counsel—U.S. Equities, NYSE Euronext, to
Nathan Saunders, Special Counsel, and Brian
O’Neill, Attorney, Division of Trading and Markets,
Commission, dated April 2, 2009.
4 15 U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(4).
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17242
Federal Register / Vol. 74, No. 70 / Tuesday, April 14, 2009 / Notices
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
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–NYSE–2009–39 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–NYSE–2009–39. 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–NYSE–
2009–39 and should be submitted on or
before May 5, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–8415 Filed 4–13–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59715; File No. SR–
NYSEAmex–2009–08]
Self-Regulatory Organizations; NYSE
Amex LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Implementing a New
Transaction Fee for Floor Brokers
April 6, 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 March 30,
2009, NYSE Amex LLC (‘‘NYSE Amex’’
or ‘‘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 Exchange. 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 establish a
separate transaction fee for floor brokers
and to eliminate the transaction fee for
agency cross trades of less than 10,000.
The revised transaction fee for floor
brokers will take effect on April 1, 2009.
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
U.S.C. 78s(b)(3)(A)(ii).
7 17 CFR 240.19b–4(f)(2).
VerDate Nov<24>2008
16:39 Apr 13, 2009
1 15
Jkt 217001
PO 00000
Frm 00100
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
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
8 17
6 15
The text of the proposed rule change is
available at the Exchange’s principal
office, the Commission’s Public
Reference Room, and https://
www.nyse.com.
Sfmt 4703
The Exchange proposes to adopt a
transaction fee of $0.0020 per share
applicable to floor brokers when taking
liquidity from the Exchange, effective
April 1, 2009. Floor brokers currently
pay the $0.0025 per share fee applicable
to all customers when taking liquidity
from the Exchange. The Exchange
believes that the reduced take fee will
encourage floor brokers to participate
more in the market, helping to make the
Exchange a more attractive market in
which to post liquidity in NYSE Amex
listed securities.
Agency cross trades (i.e., a trade
where a Member Organization has
customer orders to buy and sell an
equivalent amount of the same security)
of less than 10,000 shares are currently
subject to a $0.0005 per share charge.
The Exchange is modifying the 2009
NYSE Amex Price List to eliminate this
fee with immediate effect. Agency cross
trades of less than 10,000 shares will
now be free of charge, as is the case with
agency cross trades of 10,000 shares or
more.3
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,4
in general, and Section 6(b)(4) of the
3 See e-mail from John Carey, Chief Counsel—
U.S. Equities, NYSE Euronext, to Nathan Saunders,
Special Counsel, and Brian O’Neill, Attorney,
Division of Trading and Markets, Commission,
dated April 6, 2009 (revising the language of this
paragraph).
4 15 U.S.C. 78f(b).
E:\FR\FM\14APN1.SGM
14APN1
]]>Agencies
[Federal Register Volume 74, Number 70 (Tuesday, April 14, 2009)]
[Notices]
[Pages 17241-17242]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-8415]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59710; File No. SR-NYSE-2009-39]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Implementing Revised Liquidity Credits for Supplemental Liquidity
Providers
April 6, 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 March 31, 2009, the New York Stock Exchange LLC (``NYSE'' or
``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 Exchange. 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 proposes to implement revised liquidity credits for
Supplemental Liquidity Providers (``SLPs''). 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, 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 Exchange proposes to modify the credits received by
supplemental liquidity providers (``SLPs'') when adding liquidity to
the Exchange, with effect from April 1, 2009. Currently, SLPs receive a
credit of $0.0015 per share when adding liquidity to the NYSE if the
SLP meets the 3% average or more quoting requirement in an assigned
security pursuant to Rule 107B. With effect from April 1, 2009, there
will be three separate tiers of credits for SLPs that meet the 3%
average or more quoting requirement in an assigned security pursuant to
Rule 107B:
SLPs that add liquidity of an average daily volume
(``ADV'') \3\ of 100 million shares or less in the applicable month
will continue to receive a credit of $0.0015 per share when adding
liquidity to the NYSE.
---------------------------------------------------------------------------
\3\ Qualification for the different tiers of liquidity credits
will be based on the SLP's aggregate average daily trading volume in
the applicable month in all NYSE listed securities. See e-mail from
John Carey, Chief Counsel--U.S. Equities, NYSE Euronext, to Nathan
Saunders, Special Counsel, and Brian O'Neill, Attorney, Division of
Trading and Markets, Commission, dated April 2, 2009.
---------------------------------------------------------------------------
SLPs that add liquidity of an ADV of between 100 million
shares and 250 million shares in the applicable month will receive a
credit of $0.0016 per share when adding liquidity to the NYSE.
SLPs that add liquidity of an ADV of more than 250 million
shares in the applicable month will receive a credit of $0.0017 per
share when adding liquidity to the NYSE.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\4\ in general, and Section
6(b)(4) of the Act,\5\ 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.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 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.
[[Page 17242]]
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\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A)(ii).
\7\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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 rule-comments@sec.gov. Please include
File Number SR-NYSE-2009-39 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-NYSE-2009-39. 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-NYSE-
2009-39 and should be submitted on or before May 5, 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. E9-8415 Filed 4-13-09; 8:45 am]
BILLING CODE 8010-01-P
