Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Schedule of Fees and Charges for Exchange Services, 28307-28308 [E9-13972]

Download as PDF Federal Register / Vol. 74, No. 113 / Monday, June 15, 2009 / Notices 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–NSX– 2009–04 and should be submitted on or before July 6, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–13973 Filed 6–12–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60067; File No. SR– NYSEArca–2009–48] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending Its Schedule of Fees and Charges for Exchange Services June 8, 2009. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on May 29, 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. pwalker on PROD1PC71 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the section of 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 June 1, 2009. A copy of this filing is available on the Exchange’s Web site at https:// www.nyse.com, at the Exchange’s 15 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. 4 15 U.S.C. 78s(b)(3)(A). 5 17 CFR 240.19b–4(f)(2). 1 15 VerDate Nov<24>2008 16:47 Jun 12, 2009 Jkt 217001 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 make multiple changes to its Schedule that will take effect on June 1, 2009. A more detailed description of the proposed changes follows. Tier 1 Rates: Currently, Tier 1 rates are applied to customers with an average daily share volume per month greater than 90 million shares in Tape A, B and C securities, including adding liquidity of more than 45 million shares. The Exchange proposes making Tier 1 rates more attainable for customers by lowering the adding liquidity component from 45 million shares to 30 million shares. In Tape A and Tape C securities, the Exchange proposes a rebate of $0.0030 per share for orders that add liquidity (previously $0.0029) and a take fee of $0.0030 per share for orders that remove liquidity (previously $0.0028). Tier 2 Rates: Tier 2 rates are applied to customers with an average daily share volume per month greater than 60 million shares in Tape A, B and C securities, including adding liquidity of more than 30 million shares. The Exchange proposes making Tier 2 rates more attainable for customers by lowering the adding liquidity component from 30 million shares to 20 million shares. In Tape A and Tape C securities, the Exchange proposes a rebate of $0.0028 per share for orders that add liquidity (previously $0.0027) and a take fee of $0.0030 per share for orders that remove liquidity (previously $0.0029). Take Tier: The Take Tier rates are applied to customers that take liquidity or route to PO 00000 Frm 00095 Fmt 4703 Sfmt 4703 28307 an away market center with an average daily share volume per month greater than 85 million shares and route an average daily share volume per month greater than 2 million shares. The Exchange proposes to eliminate the Take Tier. The proposed changes will become operative on June 1, 2009. 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’’),6 in general, and Section 6(b)(4) of the Act,7 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. 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) 8 of the Act and subparagraph (f)(2) of Rule 19b–4 9 thereunder, because it establishes a due, fee, or other charge imposed by NYSE Arca. 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, 6 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). 8 15 U.S.C. 78s(b)(3)(A). 9 17 CFR 240.19b–4(f)(2). 7 15 E:\FR\FM\15JNN1.SGM 15JNN1 28308 Federal Register / Vol. 74, No. 113 / Monday, June 15, 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: BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60066; File No. SR–FINRA– 2009–036] 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–NYSEArca–2009–48 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. pwalker on PROD1PC71 with NOTICES For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–13972 Filed 6–12–09; 8:45 am] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Adopt FINRA Rules 2124 (Net Transactions With Customers), 2220 (Options Communications), 4370 (Business Continuity Plans and Emergency Contact Information) and 5250 (Payments for Market Making) in the Consolidated FINRA Rulebook June 8, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 All submissions should refer to File notice is hereby given that on May 21, Number SR–NYSEArca–2009–48. This 2009, Financial Industry Regulatory file number should be included on the subject line if e-mail is used. To help the Authority, Inc. (‘‘FINRA’’) (f/k/a National Association of Securities Commission process and review your Dealers, Inc. (‘‘NASD’’)) filed with the comments more efficiently, please use only one method. The Commission will Securities and Exchange Commission post all comments on the Commission’s (‘‘SEC’’ or ‘‘Commission’’) the proposed rule change as described in Items I, II, Internet Web site (https://www.sec.gov/ and III below, which Items have been rules/sro.shtml). Copies of the prepared by FINRA. The Commission is submission, all subsequent publishing this notice to solicit amendments, all written statements comments on the proposed rule change with respect to the proposed rule from interested persons. change that are filed with the Commission, and all written I. Self-Regulatory Organization’s communications relating to the Statement of the Terms of Substance of proposed rule change between the the Proposed Rule Change Commission and any person, other than FINRA is proposing to adopt NASD those that may be withheld from the Rules 2220 (Options Communications), public in accordance with the 2441 (Net Transactions with provisions of 5 U.S.C. 552, will be Customers), 2460 (Payments for Market available for inspection and copying in Making), 3510 (Business Continuity the Commission’s Public Reference Plans) and 3520 (Emergency Contact Room, 100 F Street, NE., Washington, Information) as FINRA rules in the DC 20549, on official business days consolidated FINRA rulebook without between the hours of 10 a.m. and 3 p.m. substantive change. The proposed rule Copies of the filing also will be available change would renumber NASD Rule for inspection and copying at the 2220 as FINRA Rule 2220, NASD Rule principal office of the Exchange. All 2441 as FINRA Rule 2124, NASD Rule comments received will be posted 2460 as FINRA Rule 5250, and NASD without change; the Commission does Rules 3510 and 3520 would be not edit personal identifying combined into FINRA Rule 4370 in the information from submissions. You consolidated FINRA rulebook. should submit only information that The text of the proposed rule change you wish to make available publicly. All is available on FINRA’s Web site at submissions should refer to File Number SR–NYSEArca–2009–48 and 10 17 CFR 200.30–3(a)(12). should be submitted on or before July 6, 1 15 U.S.C. 78s(b)(1). 2009. 2 17 CFR 240.19b–4. VerDate Nov<24>2008 16:47 Jun 12, 2009 Jkt 217001 PO 00000 Frm 00096 Fmt 4703 Sfmt 4703 https://www.finra.org, at the principal office of FINRA 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, FINRA 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. FINRA 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 As part of the process of developing a new consolidated rulebook (‘‘Consolidated FINRA Rulebook’’),3 FINRA is proposing to adopt NASD Rules 2220 (Options Communications), 2441 (Net Transactions with Customers), 2460 (Payments for Market Making), 3510 (Business Continuity Plans) and 3520 (Emergency Contact Information) as FINRA rules in the consolidated FINRA rulebook without substantive change. Proposed FINRA Rule 2220 FINRA is proposing to adopt NASD Rule 2220 (Options Communications) without substantive change into the Consolidated FINRA Rulebook as FINRA Rule 2220. NASD Rule 2220 sets forth a member’s obligations with respect to its options communications with the public. In 2008, FINRA revised NASD Rule 2220 to make it more consistent with FINRA’s general rules on communications with the public and the options communications rules of other self-regulatory organizations (SROs).4 As amended, NASD Rule 2220, 3 The current FINRA rulebook consists of (1) FINRA Rules; (2) NASD Rules; and (3) rules incorporated from NYSE (‘‘Incorporated NYSE Rules’’) (together, the NASD Rules and Incorporated NYSE Rules are referred to as the ‘‘Transitional Rulebook’’). While the NASD Rules generally apply to all FINRA members, the Incorporated NYSE Rules apply only to those members of FINRA that are also members of the NYSE (‘‘Dual Members’’). The FINRA Rules apply to all FINRA members, unless such rules have a more limited application by their terms. For more information about the rulebook consolidation process, see FINRA Information Notice, March 12, 2008 (Rulebook Consolidation Process). 4 See Securities Exchange Act Release No. 58738 (October 6, 2008), 73 FR 60371 (October 10, 2008) (Order Approving File No. SR–FINRA–2008–013). E:\FR\FM\15JNN1.SGM 15JNN1

Agencies

[Federal Register Volume 74, Number 113 (Monday, June 15, 2009)]
[Notices]
[Pages 28307-28308]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-13972]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60067; File No. SR-NYSEArca-2009-48]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Amending Its 
Schedule of Fees and Charges for Exchange Services

June 8, 2009.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on May 29, 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 the section of 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 June 1, 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 make multiple changes to its Schedule that 
will take effect on June 1, 2009. A more detailed description of the 
proposed changes follows.
    Tier 1 Rates:
    Currently, Tier 1 rates are applied to customers with an average 
daily share volume per month greater than 90 million shares in Tape A, 
B and C securities, including adding liquidity of more than 45 million 
shares. The Exchange proposes making Tier 1 rates more attainable for 
customers by lowering the adding liquidity component from 45 million 
shares to 30 million shares. In Tape A and Tape C securities, the 
Exchange proposes a rebate of $0.0030 per share for orders that add 
liquidity (previously $0.0029) and a take fee of $0.0030 per share for 
orders that remove liquidity (previously $0.0028).
    Tier 2 Rates:
    Tier 2 rates are applied to customers with an average daily share 
volume per month greater than 60 million shares in Tape A, B and C 
securities, including adding liquidity of more than 30 million shares. 
The Exchange proposes making Tier 2 rates more attainable for customers 
by lowering the adding liquidity component from 30 million shares to 20 
million shares. In Tape A and Tape C securities, the Exchange proposes 
a rebate of $0.0028 per share for orders that add liquidity (previously 
$0.0027) and a take fee of $0.0030 per share for orders that remove 
liquidity (previously $0.0029).
    Take Tier:
    The Take Tier rates are applied to customers that take liquidity or 
route to an away market center with an average daily share volume per 
month greater than 85 million shares and route an average daily share 
volume per month greater than 2 million shares. The Exchange proposes 
to eliminate the Take Tier.
    The proposed changes will become operative on June 1, 2009.
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''),\6\ in general, and Section 6(b)(4) of the Act,\7\ 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.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 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 proposed rule change is effective upon filing 
pursuant to Section 19(b)(3)(A) \8\ of the Act and subparagraph (f)(2) 
of Rule 19b-4 \9\ thereunder, because it establishes a due, fee, or 
other charge imposed by NYSE Arca.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 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,

[[Page 28308]]

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-NYSEArca-2009-48 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-2009-48. 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-2009-48 and should 
be submitted on or before July 6, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-13972 Filed 6-12-09; 8:45 am]
BILLING CODE 8010-01-P
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