Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Amex LLC Making Certain Amendments to Its Price List, 22785-22786 [E9-11227]

Download as PDF Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 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–2009–23 and should be submitted by June 4, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–11230 Filed 5–13–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59883; File No. SR– NYSEAmex–2009–16] Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Amex LLC Making Certain Amendments to Its Price List May 7, 2009. pwalker on PROD1PC71 with NOTICES 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 April 30, 2009, NYSE Amex LLC (‘‘NYSE Amex’’ 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 amend its price list to (i) clarify that nonelectronic agency transactions of less than 10,000 shares between floor brokers in the crowd are not subject to any transaction fee, (ii) clarify that brokers are charged a discounted fee of $0.0005 per share for Discretionary eQuotes and verbal agency interest when taking liquidity from the Exchange, and (iii) to remove references to the payment of rebates applicable to the period prior to the implementation of the Capital 10 17 CFR 200.30–3(a)(12). 1 15 U.S.C.78s(b)(1). 2 17 CFR 240.19b–4. VerDate Nov<24>2008 17:37 May 13, 2009 Jkt 217001 Commitment Schedule that are no longer relevant. The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and 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 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 modify the 2009 NYSE Amex Price List to clarify that non-electronic agency transactions of less than 10,000 shares between floor brokers in the crowd are not subject to any transaction fee. The 2009 NYSE Amex Price List does not currently reference any fee for these transactions and the Exchange treats them the same as non-electronic agency transactions of more than 10,000 shares, which are free of charge. The amended 2009 NYSE Amex Price List will state that any nonelectronic agency transaction between brokers in the crowd is free of charge, regardless of size. The current NYSE Amex price list does not state a fee policy with respect to Discretionary e-Quotes and orders submitted by floor brokers as verbal agency interest. The Exchange’s current practice with respect to such orders is to charge the floor broker $0.0005 per share or, in the case of securities with a trading price of less than $1.00, the lesser of (i) $0.0005 per share or (ii) 0.25% of the dollar value of the transaction. The current NYSE Amex Price List does not state this fee policy. The Exchange is amending its price list to specifically state this policy. Footnote 5 in the current 2009 NYSE Amex Price List states that Designated Market Makers receive rebates under several circumstances when providing liquidity on non-displayed interest using the Capital Commitment Schedule, or, prior to the implementation of the Capital Commitment Schedule, using the PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 22785 following message activities: price improvement, size improvement (PRIN FILL), matching away market quotes. As the Capital Commitment Schedule has been implemented, the text dealing with the payment of rebates in the period prior to its implementation is no longer relevant and the Exchange proposes to delete it. The subheading ‘‘Transactions in Securities with a Per Share Price Above $1.00’’ is modified to clarify that it applies to all transactions in securities with a price equal to or greater than $1.00. It will now read as follows: ‘‘Transactions in Securities with a Per Share Price of $1.00 or more.’’ 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,3 in general, and Section 6(b)(4) of the Act,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. 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 rule change is effective upon filing pursuant to Section 19(b)(3)(A) 5 of the Act and subparagraph (f)(2) of Rule 19b–4 6 thereunder, because it establishes a due, fee, or other charge imposed by NYSE Amex. 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. 3 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). 5 15 U.S.C. 78s(b)(3)(A). 6 17 CFR 240.19b–4(f)(2). 4 15 E:\FR\FM\14MYN1.SGM 14MYN1 22786 Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / 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: 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–NYSEAmex–2009–16 on the subject line. Paper Comments pwalker on PROD1PC71 with NOTICES • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–11227 Filed 5–13–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59890; File No. SR–BATS– 2009–010] Self-Regulatory Organizations; BATS Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to Fees for Use of BATS Exchange, Inc. May 7, 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 April 30, All submissions should refer to File 2009, BATS Exchange, Inc. (‘‘BATS’’ or Number SR–NYSEAmex–2009–16. This the ‘‘Exchange’’) filed with the file number should be included on the Securities and Exchange Commission subject line if e-mail is used. To help the (‘‘Commission’’) the proposed rule Commission process and review your change as described in Items I, II and III comments more efficiently, please use below, which Items have been prepared only one method. The Commission will by the Exchange. BATS has designated post all comments on the Commission’s the proposed rule change as one Internet Web site (https://www.sec.gov/ establishing or changing a member due, rules/sro.shtml). Copies of the fee, or other charge imposed by the submission, all subsequent Exchange under Section 19(b)(3)(A)(ii) amendments, all written statements of the Act 3 and Rule 19b–4(f)(2) with respect to the proposed rule thereunder,4 which renders the change that are filed with the proposed rule change effective upon Commission, and all written filing with the Commission. The communications relating to the Commission is publishing this notice to proposed rule change between the solicit comments on the proposed rule Commission and any person, other than change from interested persons. those that may be withheld from the I. Self-Regulatory Organization’s public in accordance with the Statement of the Terms of Substance of provisions of 5 U.S.C. 552, will be the Proposed Rule Change available for inspection and copying in the Commission’s Public Reference The Exchange proposes to modify its Room, 100 F Street, NE., Washington, fee schedule applicable to use of the DC 20549, on official business days Exchange. While changes to the fee between the hours of 10 a.m. and 3 p.m. schedule pursuant to this proposal will Copies of such filing also will be be effective upon filing, the changes will available for inspection and copying at become operative on May 1, 2009. the principal office of the Exchange. All The text of the proposed rule change comments received will be posted is available at the Exchange’s Web site without change; the Commission does at https://www.batstrading.com, at the not edit personal identifying principal office of the Exchange, and at information from submissions. You the Commission’s Public Reference should submit only information that Room. you wish to make publicly available. All submissions should refer to File 7 17 CFR 200.30–3(a)(12). Number SR–NYSEAmex–2009–16 and 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. should be submitted on or before June 3 15 U.S.C. 78s(b)(3)(A)(ii). 4, 2009. 4 17 VerDate Nov<24>2008 17:37 May 13, 2009 Jkt 217001 PO 00000 CFR 240.19b–4(f)(2). Frm 00061 Fmt 4703 Sfmt 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 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 modify its fee schedule applicable to use of the Exchange effective May 1, 2009, in order to: (i) Charge a consistent fee of $0.0025 per share for trades that remove liquidity in securities priced $1.00 or above and provide a consistent rebate of $0.0024 per share to Members who add displayed liquidity in securities priced $1.00 or above; (ii) change the securities for which the Exchange does not pay a rebate for adding liquidity to all securities priced below $1.00, rather than securities priced below $5.00, and eliminate the rebate of $0.0001 per share for trades that remove liquidity in securities priced below $5.00; (iii) decrease the fee charged by the Exchange for its ‘‘CYCLE’’ routing strategy from $0.0026 per share to $0.0025 per share and modify the routing fee for securities priced below $1.00; and (iv) change from a fee of $0.0005 per share to a rebate of $0.0001 per share for Modified Destination Specific Orders routed to a dark liquidity venue. Each of these proposed changes is described in further detail below. (i) Fees and Rebates for Securities Priced $1.00 or Above The Exchange currently charges a fee of $0.0025 per share for trades that remove liquidity in securities priced $5.00 or above, and proposes to change this fee so that it instead applies to trades that remove liquidity in securities priced $1.00 or above. The Exchange currently provides rebates for securities priced $5.00 or above of $0.0023 per share to Members who add displayed liquidity in Tape A and C securities, and $0.0028 per share to Members who add displayed in Tape B securities. The Exchange proposes to E:\FR\FM\14MYN1.SGM 14MYN1

Agencies

[Federal Register Volume 74, Number 92 (Thursday, May 14, 2009)]
[Notices]
[Pages 22785-22786]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-11227]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59883; File No. SR-NYSEAmex-2009-16]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by NYSE Amex LLC Making Certain 
Amendments to Its Price List

May 7, 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 April 30, 2009, NYSE Amex LLC (``NYSE Amex'' 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.
---------------------------------------------------------------------------

    \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 price list to (i) clarify that 
non-electronic agency transactions of less than 10,000 shares between 
floor brokers in the crowd are not subject to any transaction fee, (ii) 
clarify that brokers are charged a discounted fee of $0.0005 per share 
for Discretionary e-Quotes and verbal agency interest when taking 
liquidity from the Exchange, and (iii) to remove references to the 
payment of rebates applicable to the period prior to the implementation 
of the Capital Commitment Schedule that are no longer relevant. The 
text of the proposed rule change is available at the Exchange, the 
Commission's Public Reference Room, and 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 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 modify the 2009 NYSE Amex Price List to 
clarify that non-electronic agency transactions of less than 10,000 
shares between floor brokers in the crowd are not subject to any 
transaction fee. The 2009 NYSE Amex Price List does not currently 
reference any fee for these transactions and the Exchange treats them 
the same as non-electronic agency transactions of more than 10,000 
shares, which are free of charge. The amended 2009 NYSE Amex Price List 
will state that any non-electronic agency transaction between brokers 
in the crowd is free of charge, regardless of size.
    The current NYSE Amex price list does not state a fee policy with 
respect to Discretionary e-Quotes and orders submitted by floor brokers 
as verbal agency interest. The Exchange's current practice with respect 
to such orders is to charge the floor broker $0.0005 per share or, in 
the case of securities with a trading price of less than $1.00, the 
lesser of (i) $0.0005 per share or (ii) 0.25% of the dollar value of 
the transaction. The current NYSE Amex Price List does not state this 
fee policy. The Exchange is amending its price list to specifically 
state this policy.
    Footnote 5 in the current 2009 NYSE Amex Price List states that 
Designated Market Makers receive rebates under several circumstances 
when providing liquidity on non-displayed interest using the Capital 
Commitment Schedule, or, prior to the implementation of the Capital 
Commitment Schedule, using the following message activities: price 
improvement, size improvement (PRIN FILL), matching away market quotes. 
As the Capital Commitment Schedule has been implemented, the text 
dealing with the payment of rebates in the period prior to its 
implementation is no longer relevant and the Exchange proposes to 
delete it.
    The subheading ``Transactions in Securities with a Per Share Price 
Above $1.00'' is modified to clarify that it applies to all 
transactions in securities with a price equal to or greater than $1.00. 
It will now read as follows: ``Transactions in Securities with a Per 
Share Price of $1.00 or more.''
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 of the Act,\3\ in general, and Section 
6(b)(4) of the Act,\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.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f(b).
    \4\ 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.

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 rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) \5\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \6\ thereunder, because it establishes a due, fee, or other charge 
imposed by NYSE Amex.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 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.

[[Page 22786]]

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-NYSEAmex-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-NYSEAmex-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 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 such 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 publicly available. All 
submissions should refer to File Number SR-NYSEAmex-2009-16 and should 
be submitted on or before June 4, 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. E9-11227 Filed 5-13-09; 8:45 am]
BILLING CODE 8010-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.