Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to PrecISE Fees, 33012-33013 [E9-16176]
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Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices
All submissions should refer to File
Number SR–NYSEArca–2009–60. 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 available publicly. All
submissions should refer to File
Number SR–NYSEArca–2009–60 and
should be submitted on or before July
30, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–16175 Filed 7–8–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60208; File No. SR–ISE–
2009–39]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to PrecISE Fees
rmajette on DSK29S0YB1 with NOTICES
July 1, 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 June 24,
2009, the International Securities
7 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Nov<24>2008
15:49 Jul 08, 2009
Jkt 217001
Exchange, LLC (the ‘‘Exchange’’ or the
‘‘ISE’’) 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 ISE is proposing to amend the
fees for its PrecISE Trade® order entry
terminals. The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.ise.com), at the
principal office of the Exchange, 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 these statements may be examined at
the places specified in Item IV below.
The self-regulatory organization 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 purpose of this
proposed rule change is to amend the
ISE’s fee schedule for its proprietary
PrecISE Trade® order entry terminals.
‘‘PrecISE’’ is the Exchange’s internallydeveloped proprietary order-routing
terminal used by Electronic Access
Members (‘‘EAM’’) to send order flow to
ISE. ISE currently charges a monthly fee
of $300 per user per month for the first
10 users; for all subsequent users, ISE
charges $50 per user per month.3 ISE
recently upgraded PrecISE, enhancing it
with certain new functionalities that,
among other things, provide users with
‘‘Greek’’ calculations and the use of
Attributable Orders.4 Certain other user3 See Securities Exchange Act Release No. 55960
(June 26, 2007), 72 FR 36531 (July 3, 2007) (Notice
of Filing and Immediate Effectiveness of a Proposed
Rule Change Relating to PrecISE Fees).
4 Attributable Order is a market or limit order in
which an EAM can choose to disclose their member
ID. See Securities Exchange Act Release No. 58701
PO 00000
Frm 00137
Fmt 4703
Sfmt 4703
requested enhancements have also been
built into the new version. In order for
ISE to cover the costs of building out the
enhanced version, we propose to
increase the fee for the first 10 users to
$350 per month and for all subsequent
users, $100 per month.
ISE also proposes to change the
method for calculating this fee.
Currently, EAMs are billed based on the
number of maximum concurrent logins.
For example, if an EAM uses five logins
over the course of a month but only
three logins were used simultaneously
at any point during the month, that
member is charged for just those three
logins. The Exchange now proposes to
charge EAMs for the total number of
logins used during the month. Using the
same example, EAMs will now be
charged for all five logins that they used
over the course of the month. This
proposed fee change will be operative
on July 1, 2009.
(2) Basis—The basis under the
Securities Exchange Act of 1934 (the
‘‘Exchange Act’’) [sic] for this proposed
rule change is the requirement under
Section 6(b)(4) that an exchange have an
equitable allocation of reasonable dues,
fees and other charges among its
members and other persons using its
facilities. In particular, these fees will
enable the Exchange to cover its costs
for providing an enhanced version of its
front-end trading system.
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)
[sic] 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
(October 1, 2008), 73 FR 59007 (October 8, 2008)
(Notice of Filing and Immediate Effectiveness of
Proposed Rule Change Relating to a New Order
Type) (SR–ISE–2008–74).
5 15 U.S.C. 78s(b)(3)(A). [sic]
6 17 CFR 19b–4(f)(2). [sic]
E:\FR\FM\09JYN1.SGM
09JYN1
Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices
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
rmajette on DSK29S0YB1 with NOTICES
• 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–ISE–2009–39 on the subject
line.
Number SR–ISE–2009–39 and should be
submitted on or before July 30, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–16176 Filed 7–8–09; 8:45 am]
BILLING CODE 8010–01–P
OFFICE OF THE UNITED STATES
TRADE REPRESENTATIVE
Generalized System of Preferences
(GSP): Notice of the Results of the
2008 Annual Product Reviews
AGENCY: Office of the United States
Trade Representative.
ACTION: Notice.
SUMMARY: This notice announces: (1)
The disposition of the product petitions
accepted for review in the 2008 GSP
Annual Product Review; (2) the results
Paper Comments
of the 2008 Competitive Need
Limitations (CNL) Waiver Review; (3)
• Send paper comments in triplicate
the results of the 2008 Competitive
to Elizabeth M. Murphy, Secretary,
Need Limitation Waiver Revocation
Securities and Exchange Commission,
Review; (4) the addition of a product to
100 F Street, NE., Washington, DC
the list of products that were not
20549–1090.
produced in the United States on
All submissions should refer to File
January 1, 1995; (5) the results of the
Number SR–ISE–2009–39. This file
2008 De Minimis Waiver and
number should be included on the
subject line if e-mail is used. To help the Redesignation Reviews; and (6) the
continuation of the 2008 Country
Commission process and review your
Practices Review.
comments more efficiently, please use
FOR FURTHER INFORMATION CONTACT:
only one method. The Commission will
post all comments on the Commission’s Tameka Cooper, GSP Program, Office of
the United States Trade Representative,
Internet Web site (https://www.sec.gov/
1724 F Street, NW., Room F–601,
rules/sro.shtml). Copies of the
Washington, DC 20508. The telephone
submission, all subsequent
number is (202) 395–6971, the fax
amendments, all written statements
number is (202) 395–2961, and the
with respect to the proposed rule
e-mail address is
change that are filed with the
Tameka_Cooper@ustr.eop.gov.
Commission, and all written
communications relating to the
SUPPLEMENTARY INFORMATION: The GSP
proposed rule change between the
program provides for the duty-free
Commission and any person, other than importation of designated articles when
those that may be withheld from the
imported from beneficiary developing
public in accordance with the
countries. The GSP program is
provisions of 5 U.S.C. 552, will be
authorized by Title V of the Trade Act
available for inspection and copying in
of 1974 (19 U.S.C. 2461 et seq.), as
the Commission’s Public Reference
amended (the ‘‘Trade Act’’), and is
Room, 100 F Street, NE., Washington,
implemented in accordance with
DC 20549, on official business days
Executive Order 11888 of November 24,
between the hours of 10 a.m. and 3 p.m. 1975, as modified by subsequent
Copies of such filing also will be
Executive Orders and Presidential
available for inspection and copying at
Proclamations.
the principal office of ISE. All
In the 2008 Annual Product Review,
comments received will be posted
the Trade Policy Staff Committee
without change; the Commission does
reviewed petitions to change product
not edit personal identifying
coverage of the GSP. The results of the
information from submissions. You
2008 GSP Annual Review, comprising
should submit only information that
nine lists, are available for public
you wish to make available publicly. All
7 17 CFR 200.30–3(a)(12).
submissions should refer to File
VerDate Nov<24>2008
15:49 Jul 08, 2009
Jkt 217001
PO 00000
Frm 00138
Fmt 4703
Sfmt 4703
33013
viewing at https://www.regulations.gov
in docket USTR–2008–0045. The listed
results of the 2008 GSP Annual Review
are also available at: https://
www.ustr.gov/trade-topics/tradedevelopment/preference-programs/
generalized-system-preference-gsp/
current-reviews.
The disposition of the petitions
considered in the 2008 GSP Annual
Review is described in: List I (Decisions
on Petitions to Add Products to the List
of Eligible Products for the Generalized
System of Preferences); List II (Decisions
on Petitions to Remove Duty-Free Status
from a Beneficiary Developing Country
for a Product on the List of Eligible
Articles for the Generalized System of
Preferences); and List III (Decisions on
Petitions to Grant a Waiver to the
Competitive Need Limitations).
Certain articles for which a waiver of
the application of Section 503(c)(2)(A)
of the 1974 Act was issued at least five
years ago, but which are revoked
pursuant to Section 503(d)(5) are listed
in List IV (Decisions on Competitive
Need Limit Waiver Revocations).
Certain articles for which it has been
determined that a like or directly
competitive product was not produced
in the United States on January 1, 1995,
for the purposes of section 503(c)(2)(E),
are listed in List V (Addition to List of
Products ‘‘Not Produced in the United
States’’, Pursuant to Section
503(c)(2)(E)).
In the 2008 Product Review, the Trade
Policy Staff Committee evaluated the
2008 value of U.S. imports of each GSPeligible article to determine whether an
article from a GSP beneficiary
developing country exceeded the GSP
CNLs. De minimis waivers were granted
to certain articles that exceeded the 50percent import-share CNL, but for
which the aggregate value of all U.S.
imports of that article was below the
2008 de minimis level of $19 million.
List VI (Decisions on Products Eligible
for De Minimis Waivers) provides the
list of the articles and the associated
countries granted de minimis waivers.
No eligible products were redesignated
to GSP eligibility. List VII (Decisions on
Products Eligible for GSP
Redesignation) provides the list of the
articles and the associated countries
reviewed for redesignation.
Articles that exceeded one of the GSP
CNLs in 2008, and that are newly
excluded from GSP eligibility when
imported from a specific beneficiary
country, are listed in List VIII (Products
Newly Subject to CNL Exclusion).
The Trade Policy Staff Committee has
determined to continue the review of
GSP eligibility of certain beneficiary
developing countries. The beneficiaries
E:\FR\FM\09JYN1.SGM
09JYN1
]]>Agencies
[Federal Register Volume 74, Number 130 (Thursday, July 9, 2009)]
[Notices]
[Pages 33012-33013]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-16176]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-60208; File No. SR-ISE-2009-39]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to PrecISE Fees
July 1, 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 June 24, 2009, the International Securities Exchange, LLC (the
``Exchange'' or the ``ISE'') 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 ISE is proposing to amend the fees for its PrecISE
Trade[supreg] order entry terminals. The text of the proposed rule
change is available on the Exchange's Web site (https://www.ise.com), at
the principal office of the Exchange, 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 these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
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 purpose of this proposed rule change is to amend
the ISE's fee schedule for its proprietary PrecISE Trade[supreg] order
entry terminals. ``PrecISE'' is the Exchange's internally-developed
proprietary order-routing terminal used by Electronic Access Members
(``EAM'') to send order flow to ISE. ISE currently charges a monthly
fee of $300 per user per month for the first 10 users; for all
subsequent users, ISE charges $50 per user per month.\3\ ISE recently
upgraded PrecISE, enhancing it with certain new functionalities that,
among other things, provide users with ``Greek'' calculations and the
use of Attributable Orders.\4\ Certain other user-requested
enhancements have also been built into the new version. In order for
ISE to cover the costs of building out the enhanced version, we propose
to increase the fee for the first 10 users to $350 per month and for
all subsequent users, $100 per month.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 55960 (June 26,
2007), 72 FR 36531 (July 3, 2007) (Notice of Filing and Immediate
Effectiveness of a Proposed Rule Change Relating to PrecISE Fees).
\4\ Attributable Order is a market or limit order in which an
EAM can choose to disclose their member ID. See Securities Exchange
Act Release No. 58701 (October 1, 2008), 73 FR 59007 (October 8,
2008) (Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to a New Order Type) (SR-ISE-2008-74).
---------------------------------------------------------------------------
ISE also proposes to change the method for calculating this fee.
Currently, EAMs are billed based on the number of maximum concurrent
logins. For example, if an EAM uses five logins over the course of a
month but only three logins were used simultaneously at any point
during the month, that member is charged for just those three logins.
The Exchange now proposes to charge EAMs for the total number of logins
used during the month. Using the same example, EAMs will now be charged
for all five logins that they used over the course of the month. This
proposed fee change will be operative on July 1, 2009.
(2) Basis--The basis under the Securities Exchange Act of 1934 (the
``Exchange Act'') [sic] for this proposed rule change is the
requirement under Section 6(b)(4) that an exchange have an equitable
allocation of reasonable dues, fees and other charges among its members
and other persons using its facilities. In particular, these fees will
enable the Exchange to cover its costs for providing an enhanced
version of its front-end trading system.
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) [sic] 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
[[Page 33013]]
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). [sic]
\6\ 17 CFR 19b-4(f)(2). [sic]
---------------------------------------------------------------------------
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-ISE-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-ISE-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, 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 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-2009-39 and should be
submitted on or before July 30, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-16176 Filed 7-8-09; 8:45 am]
BILLING CODE 8010-01-P
