Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Implementing Fee Change, 19253-19254 [E9-9573]

Download as PDF Federal Register / Vol. 74, No. 80 / Tuesday, April 28, 2009 / Notices 4(f)(6)(iii) 13 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. NASDAQ has requested that the Commission waive the 30-day operative delay. The Commission notes that NASDAQ’s proposal is substantially similar to the rule of another national securities exchange and does not raise any new substantive issues.14 NASDAQ states that waiving the operative delay will allow NASDAQ to compete more effectively by putting its new functionality in effect without undue delay.15 For these reasons, the Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest, and designates the proposed rule change to be operative upon filing with the Commission.16 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–NASDAQ–2009–036 on the subject line. erowe on PROD1PC64 with NOTICES 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–NASDAQ–2009–036. This file number should be included on the subject line if e-mail is used. To help the Commission. NASDAQ has satisfied this requirement. 13 Id. 14 See BATS Exchange Rule 11.9(c)(12). 15 See SR–NASDAQ–2009–036, Item 7. 16 For the purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). VerDate Nov<24>2008 15:33 Apr 27, 2009 Jkt 217001 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 the filing also will be available for inspection and copying at the principal office of NASDAQ. 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–NASDAQ–2009–036 and should be submitted on or before May 19, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–9561 Filed 4–27–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59808; File No. SR– NYSEArca–2009–31] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Implementing Fee Change April 21, 2009. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that on April 15, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule 17 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. change as described in Items I, II and III below, which Items have been prepared by the self-regulatory organization. NYSE Arca filed the proposal pursuant to Section 19(b)(3)(A) 4 of the Act and Rule 19b–4(f)(2) 5 thereunder. 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 amend its Schedule of Fees and Charges for Exchange Services (the ‘‘Schedule’’). While changes to the Schedule pursuant to this proposal will be effective upon filing, the changes will become operative on April 15, 2009. A copy of this filing is available on the Exchange’s Web site at https://www.nyse.com, at the Exchange’s principal office 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 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 proposes to revise its Schedule with respect to fees applied to Primary Only Plus (‘‘PO+’’) orders. The changes, described below, will become operative on April 15, 2009. The Exchange believes that the proposed changes to the Schedule are equitable in that they apply uniformly to our Users. Tier 1 and Tier 2 Rates For orders routed outside the Book in Tapes A, B, or C securities to NASDAQ, the Exchange proposes a fee of $0.003 per share (previously $0.0029). Take Tier For orders routed outside the Book in Tapes A, B, or C securities to NASDAQ, the Exchange proposes a fee of $0.003 per share (previously $0.00285). 1 15 PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 19253 4 15 5 17 E:\FR\FM\28APN1.SGM U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). 28APN1 19254 Federal Register / Vol. 74, No. 80 / Tuesday, April 28, 2009 / Notices 2. Statutory Basis Electronic Comments The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Securities Exchange Act of 1934 (the ‘‘Act’’), in general, and Section 6(b)(4) of the Act, 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. The proposed rates are part of the Exchange’s continued effort to attract and enhance participation on the Exchange, by offering attractive rebates for liquidity providers and volumebased incentives. The Exchange believes that the proposed changes to the Schedule are equitable in that they apply uniformly to our Users. • 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–NYSEArca–2009–31 on the subject line. 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. 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) 6 of the Act and subparagraph (f)(2) of Rule 19b–4 7 thereunder, because it establishes a due, fee, or other charge imposed by NYSE Arca on its members. 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. erowe on PROD1PC64 with 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: 6 15 7 17 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). VerDate Nov<24>2008 15:33 Apr 27, 2009 Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. [Release No. 34–59806; File No. SR–ISE– 2009–19] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness by International Securities Exchange, LLC of a Proposed Rule Change To Amend Exchange Rules Related to Confirmations to Customers April 21, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b–4 thereunder,2 All submissions should refer to File notice is hereby given that on April 8, Number SR–NYSEArca–2009–31. This 2009, the International Securities file number should be included on the Exchange, LLC (‘‘Exchange’’ or ‘‘ISE’’) subject line if e-mail is used. To help the filed with the Securities and Exchange Commission process and review your Commission (‘‘Commission’’) the comments more efficiently, please use proposed rule change, as described in only one method. The Commission will Items I and II below, which items have post all comments on the Commission’s been substantially prepared by the Internet Web site (https://www.sec.gov/ Exchange. The Commission is rules/sro.shtml). Copies of the publishing this notice to solicit comments on the proposed rule change submission, all subsequent from interested persons. amendments, all written statements with respect to the proposed rule I. Self-Regulatory Organization’s change that are filed with the Statement of the Terms of Substance of Commission, and all written the Proposed Rule Change communications relating to the The ISE proposes to amend Rule proposed rule change between the 612—Confirmation to Customers to Commission and any person, other than clarify that written confirmations those that may be withheld from the relating to options transactions do not public in accordance with the need to specify the exchange or provisions of 5 U.S.C. 552, will be exchanges on which an option contract available for inspection and copying in is executed.3 The text of the proposed the Commission’s Public Reference 1 15 U.S.C. 78s(b)(1). Room, 100 F Street, NE., Washington, 2 17 CFR 240.19b–4. DC 20549, on official business days 3 The proposed filing is being done pursuant to between the hours of 10 a.m. and 3 p.m. an industry-wide initiative under the auspices of Copies of the filing also will be available the Options Self-Regulatory Council (‘‘OSRC’’), for inspection and copying at the which is a committee comprised of representatives from each of the options exchanges functioning principal office of the Exchange. All pursuant to the OSRC Plan (the ‘‘Plan’’). See comments received will be posted Securities Exchange Act Release No. 20158 without change; the Commission does (September 8, 1983), 48 FR 41256 (September 14, 1983). The Plan is not a National Market System not edit personal identifying (‘‘NMS’’) plan under Section 11A of the Act, but information from submissions. You rather is a plan to allocate regulatory should submit only information that responsibilities under Rule 17d–2 under the Act. 17 you wish to make available publicly. All CFR 240.17d–2. As a result of the introduction of multiply listed options and the introduction of the submissions should refer to File Plan for the Purpose of Creating and Operating an Number SR–NYSEArca–2009–31 and Intermarket Options Market Linkage (‘‘Options Linkage Plan’’), the contracts in a customer options should be submitted on or before May order could be executed on more than one options 19, 2009. exchange, and the significance of the options For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–9573 Filed 4–27–09; 8:45 am] BILLING CODE 8010–01–P 8 17 Jkt 217001 SECURITIES AND EXCHANGE COMMISSION PO 00000 CFR 200.30–3(a)(12). Frm 00062 Fmt 4703 Sfmt 4703 exchange, or exchanges, that execute a particular options transaction has diminished significantly. See Securities Exchange Act Release No. 43086 (July 28, 2000), 65 FR 48023 (August 4, 2000). Furthermore, the OSRC believes that in light of the best execution and disclosure requirements, the usefulness of including on an options confirmation the name of the options exchange, or exchanges, on which the options transaction was effected does not outweigh the operational difficulties of capturing the information given the multiple trading of options and the application of the Options Linkage Plan industry wide. E:\FR\FM\28APN1.SGM 28APN1

Agencies

[Federal Register Volume 74, Number 80 (Tuesday, April 28, 2009)]
[Notices]
[Pages 19253-19254]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-9573]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59808; File No. SR-NYSEArca-2009-31]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Implementing Fee 
Change

April 21, 2009.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given 
that on April 15, 2009, NYSE Arca, Inc. (``NYSE Arca'' 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. NYSE Arca filed the proposal pursuant to Section 
19(b)(3)(A) \4\ of the Act and Rule 19b-4(f)(2) \5\ thereunder. 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\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend its Schedule of Fees and Charges for 
Exchange Services (the ``Schedule''). While changes to the Schedule 
pursuant to this proposal will be effective upon filing, the changes 
will become operative on April 15, 2009. A copy of this filing is 
available on the Exchange's Web site at https://www.nyse.com, at the 
Exchange's principal office 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 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 proposes to revise its Schedule with respect to fees 
applied to Primary Only Plus (``PO+'') orders. The changes, described 
below, will become operative on April 15, 2009. The Exchange believes 
that the proposed changes to the Schedule are equitable in that they 
apply uniformly to our Users.
    Tier 1 and Tier 2 Rates
    For orders routed outside the Book in Tapes A, B, or C securities 
to NASDAQ, the Exchange proposes a fee of $0.003 per share (previously 
$0.0029).
    Take Tier
    For orders routed outside the Book in Tapes A, B, or C securities 
to NASDAQ, the Exchange proposes a fee of $0.003 per share (previously 
$0.00285).

[[Page 19254]]

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 of the Securities Exchange Act of 1934 
(the ``Act''), in general, and Section 6(b)(4) of the Act, 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. The proposed rates are 
part of the Exchange's continued effort to attract and enhance 
participation on the Exchange, by offering attractive rebates for 
liquidity providers and volume-based incentives. The Exchange believes 
that the proposed changes to the Schedule are equitable in that they 
apply uniformly to our Users.

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.

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) \6\ of the Act and subparagraph (f)(2) 
of Rule 19b-4 \7\ thereunder, because it establishes a due, fee, or 
other charge imposed by NYSE Arca on its members. 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.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \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-NYSEArca-2009-31 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-NYSEArca-2009-31. 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 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-NYSEArca-2009-31 and should 
be submitted on or before May 19, 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. E9-9573 Filed 4-27-09; 8:45 am]
BILLING CODE 8010-01-P
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