Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Implementing the Schedule of Fees and Charges for Exchange Services, 36794-36796 [E9-17632]
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Federal Register / Vol. 74, No. 141 / Friday, July 24, 2009 / Notices
4(f)(6)(iii) 10 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
ISE requests that the Commission waive
the 30-day operative delay, as specified
in Rule 19b–4(f)(6)(iii),11 which would
make the rule change operative upon
filing. The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest
because such waiver will allow the pilot
periods to continue without
interruption.12 Accordingly, the
Commission designates the proposed
rule change operative upon filing with
the Commission.
At any time within 60 days of the
filing of such 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:
srobinson on DSKHWCL6B1PROD with NOTICES
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–ISE–2009–52 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–2009–52. 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
10 17
CFR 240.19b–4(f)(6)(iii).
11 Id.
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–ISE–2009–52 and should be
submitted on or before August 14, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–17634 Filed 7–23–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60322; File No. SR–
NYSEArca–2009–68]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Implementing the
Schedule of Fees and Charges for
Exchange Services
July 16, 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 July 10,
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
12 For
purposes only of waiving the operative
delay for this proposal, 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
18:55 Jul 23, 2009
Jkt 217001
PO 00000
13 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
Frm 00146
Fmt 4703
Sfmt 4703
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 the
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 July 13, 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
On June 30, 2009 the Exchange filed
with the Commission a rule change
adding four new Self Trade Prevention
(‘‘STP’’) Modifiers.6 The new STP
functionality allows Equity Trading
Permit (‘‘ETP’’) Holders entering orders
into the system to elect to prevent those
orders from executing against other
orders entered into the System by the
same ETP Holder. Pursuant to this
proposal the Exchange seeks to add to
the Schedule a credit and fee for orders
returned to an ETP Holder using the
STP Modifiers.
ETP Holders entering an incoming
order with either the STP Cancel Both
(‘‘STPC’’) or the STP Decrement and
Cancel (‘‘STPD’’) Modifier will be
charged $0.0030 per share for orders
4 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
6 See Securities and Exchange Act Release No.
60191 (June 30, 2009), 74 FR 32660 (July 8,
2009)(Notice of Filing and Immediate Effectiveness
for NYSEArca–2009–58).
5 17
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srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 74, No. 141 / Friday, July 24, 2009 / Notices
returned to the ETP Holder. The ETP
Holders [sic] corresponding resting
order marked with any of the STP
Modifiers that interacts with an
incoming STPC or STPD Modifier will
be credited $0.0029 per share for orders
returned to the ETP Holder. ETP
Holders entering an incoming order
with either the STP Cancel Newest
(‘‘STPN’’) or the STP Cancel Oldest
(‘‘STPO’’) Modifier will not be credited
or charged any fees. Similar to the way
in which STP Modifiers interact, the
incoming order with an STP Modifier
controls the fees charged.
Example 1:
—A STPN (or STPO) Order is entered by
an ETP Holder and is resting in the
NYSE Arca Book.
—A STPC (or STPD) Order is
subsequently entered by the same ETP
Holder and is marketable against the
STPN (or STPO) Order.
—The ETP Holder is credited $0.0029
per share for the resting STP Order
and charged $0.0030 per share for the
incoming STPC (or STPD) Order.
Example 2:
—A STPC (or STPD) Order is entered by
an ETP Holder and is resting in the
NYSE Arca Book [sic].
—A STPN (or STPO) Order is
subsequently entered by the same ETP
Holder and is marketable against the
STPC (or STPD) Order.
—The ETP Holder is not credited or
charged a fee for either order returned
back to the ETP Holder.
On incoming orders marked with the
STPD Modifier, both orders will be
cancelled back to the ETP Holder if the
orders are equivalent in size. If the
orders are not equivalent in size, the
equivalent size will be cancelled back to
the ETP Holder and the larger order will
be decremented by the size of the
smaller order with the balance
remaining on the NYSE Arca Book. For
billing purposes, only the size of the
portion of the orders cancelled back to
the ETP Holder will be charged or
credited. For example, if an incoming
1000 share STPD Order interacts with a
resting 200 share STP Order from the
same ETP ID, the ETP Holder will be
credited and charged for the 200 shares
that were cancelled back.
On incoming orders marked with the
STPC Modifier, the entire size of both
orders will be cancelled back to ETP
Holder. However, for billing purposes,
incoming orders marked with the STPC
Modifier will only be charged or
credited up to the equivalent size of
both orders. For example, if an
incoming 200 share STPC Order
interacts with a resting 1000 share STP
Order, the ETP Holder will only be
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18:55 Jul 23, 2009
Jkt 217001
charged and credited for the equivalent
size, which is 200 shares. Similarly, if
an incoming 1000 share STPC Order
interacts with a 200 share resting STP
Order, the ETP Holder will only be
charged and credited for 200 shares.
The Exchange plans to implement
these new fees and credits in
conjunction with the implementation of
this STP functionality scheduled for
July 13, 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’’),7 in general, and Section 6(b)(4)
of the Act,8 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 proposed rule change is
effective upon filing pursuant to Section
19(b)(3)(A) 9 of the Act and
subparagraph (f)(2) of Rule 19b–4 10
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,
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
PO 00000
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–NYSEArca–2009–68 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–2009–68. 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–2009–68 and
should be submitted on or before
August 14, 2009.
7 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
9 15 U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(2).
8 15
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36796
Federal Register / Vol. 74, No. 141 / Friday, July 24, 2009 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–17632 Filed 7–23–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60321; File No. SR–
NYSEArca–2009–65]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending NYSE Arca
Equities Rule 7.31(mm)
July 16, 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 8,
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 and II
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.
srobinson on DSKHWCL6B1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
NYSE Arca Equities Rule 7.31(mm)
governing the PNP (Post No Preference)
Blind orders. The text of the proposed
rule change is attached as Exhibit 5 to
the 19b–4 form. 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,
11 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
18:55 Jul 23, 2009
Jkt 217001
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 purpose of this rule filing is to
amend the definition and operation of
PNP Blind orders under NYSE Arca
Equities Rule 7.31(mm). A PNP Blind
order is a PNP Order 3 priced at or
through the Best Protected Bid or Best
Protected Offer (‘‘PBBO’’) that is
displayed on the NYSE Arca Book 4 at
the price of the contra quote. The
priority and execution of PNP Blind
orders are governed by the Exchange’s
Display Order Process set forth in Rule
7.36. Presently, pursuant to
7.31(mm)(4), marketable contra orders
execute first against PNP Blind orders,
then the rest of the book. Pursuant to
this proposal, the Exchange seeks to
clarify that where a PNP Blind order is
un-displayed, any displayed order
priced at or through the PBBO will take
priority over the un-displayed PNP
Blind order at the same prices. Of
course, once a PNP Blind order is
displayed, it will be ranked in price/
time priority with all other orders.
Example
10:03:00 PBBO: $15.00 to $15.05
10:03:30 B1 PNPB Buy 1000 at 15.10
(order is booked at $15.05, undisplayed)
10:03:45 B2 PNP ISO Buy 1000 at
$15.05 (order is immediately
posted)
10:04:00 S1 Sell 1000 at $15.05
Results Currently: S1 interacts with
un-displayed order B1
Revised Results: S1 trades with
displayed order B2.
The Exchange believes that amending
this functionality is consistent with its
Display Order Process which favors
executing displayed liquidity before undisplayed liquidity.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 5 of the
Securities Exchange Act of 1934 (the
‘‘Exchange Act’’), in general, and
furthers the objectives of Section
6(b)(5) 6 in particular in that it is
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities,
and to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system. The proposed rule change
clarifies PNP Blind order functionality
consistent with its Display Order
Process.
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
Because the foregoing proposed rule
change: (i) Does not significantly affect
the protection of investors or the public
interest; (ii) does not impose any
significant burden on competition; and
(iii) by its terms, does not become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, if
consistent with the protection of
investors and the public interest, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 7 and Rule 19b–
4(f)(6) thereunder.8
A proposed rule change filed under
Rule 19b–4(f)(6) normally may not
become operative prior to 30 days after
the date of filing.9 However, Rule 19b–
4(f)(6)(iii) 10 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has requested that the
Commission waive the 30-day operative
delay so that the proposal may become
operative immediately upon filing. The
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
9 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
give the Commission written notice of its intent to
file the proposed rule change at least five business
days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
Commission. The Exchange has complied with this
requirement.
10 Id.
8 17
Arca Equities Rule 7.31(w).
Arca Equities Rule 1.1(a). The term
‘‘NYSE Arca Book’’ shall refer to the NYSE Arca
Marketplace’s electronic file of orders, which
contains all the User’s orders in each of the Directed
Order, Display Order, Working Order and Tracking
Order Processes.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(5).
PO 00000
3 NYSE
4 NYSE
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]]>Agencies
[Federal Register Volume 74, Number 141 (Friday, July 24, 2009)]
[Notices]
[Pages 36794-36796]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-17632]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-60322; File No. SR-NYSEArca-2009-68]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Implementing the
Schedule of Fees and Charges for Exchange Services
July 16, 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 July 10, 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 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 July 13, 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
On June 30, 2009 the Exchange filed with the Commission a rule
change adding four new Self Trade Prevention (``STP'') Modifiers.\6\
The new STP functionality allows Equity Trading Permit (``ETP'')
Holders entering orders into the system to elect to prevent those
orders from executing against other orders entered into the System by
the same ETP Holder. Pursuant to this proposal the Exchange seeks to
add to the Schedule a credit and fee for orders returned to an ETP
Holder using the STP Modifiers.
---------------------------------------------------------------------------
\6\ See Securities and Exchange Act Release No. 60191 (June 30,
2009), 74 FR 32660 (July 8, 2009)(Notice of Filing and Immediate
Effectiveness for NYSEArca-2009-58).
---------------------------------------------------------------------------
ETP Holders entering an incoming order with either the STP Cancel
Both (``STPC'') or the STP Decrement and Cancel (``STPD'') Modifier
will be charged $0.0030 per share for orders
[[Page 36795]]
returned to the ETP Holder. The ETP Holders [sic] corresponding resting
order marked with any of the STP Modifiers that interacts with an
incoming STPC or STPD Modifier will be credited $0.0029 per share for
orders returned to the ETP Holder. ETP Holders entering an incoming
order with either the STP Cancel Newest (``STPN'') or the STP Cancel
Oldest (``STPO'') Modifier will not be credited or charged any fees.
Similar to the way in which STP Modifiers interact, the incoming order
with an STP Modifier controls the fees charged.
Example 1:
--A STPN (or STPO) Order is entered by an ETP Holder and is resting in
the NYSE Arca Book.
--A STPC (or STPD) Order is subsequently entered by the same ETP Holder
and is marketable against the STPN (or STPO) Order.
--The ETP Holder is credited $0.0029 per share for the resting STP
Order and charged $0.0030 per share for the incoming STPC (or STPD)
Order.
Example 2:
--A STPC (or STPD) Order is entered by an ETP Holder and is resting in
the NYSE Arca Book [sic].
--A STPN (or STPO) Order is subsequently entered by the same ETP Holder
and is marketable against the STPC (or STPD) Order.
--The ETP Holder is not credited or charged a fee for either order
returned back to the ETP Holder.
On incoming orders marked with the STPD Modifier, both orders will
be cancelled back to the ETP Holder if the orders are equivalent in
size. If the orders are not equivalent in size, the equivalent size
will be cancelled back to the ETP Holder and the larger order will be
decremented by the size of the smaller order with the balance remaining
on the NYSE Arca Book. For billing purposes, only the size of the
portion of the orders cancelled back to the ETP Holder will be charged
or credited. For example, if an incoming 1000 share STPD Order
interacts with a resting 200 share STP Order from the same ETP ID, the
ETP Holder will be credited and charged for the 200 shares that were
cancelled back.
On incoming orders marked with the STPC Modifier, the entire size
of both orders will be cancelled back to ETP Holder. However, for
billing purposes, incoming orders marked with the STPC Modifier will
only be charged or credited up to the equivalent size of both orders.
For example, if an incoming 200 share STPC Order interacts with a
resting 1000 share STP Order, the ETP Holder will only be charged and
credited for the equivalent size, which is 200 shares. Similarly, if an
incoming 1000 share STPC Order interacts with a 200 share resting STP
Order, the ETP Holder will only be charged and credited for 200 shares.
The Exchange plans to implement these new fees and credits in
conjunction with the implementation of this STP functionality scheduled
for July 13, 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''),\7\ in general, and Section 6(b)(4) of the Act,\8\ 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 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) \9\ of the Act and subparagraph (f)(2)
of Rule 19b-4 \10\ thereunder, because it establishes a due, fee, or
other charge imposed by NYSE Arca.
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\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(2).
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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-NYSEArca-2009-68 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-2009-68. 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-2009-68 and should
be submitted on or before August 14, 2009.
[[Page 36796]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-17632 Filed 7-23-09; 8:45 am]
BILLING CODE 8010-01-P
