Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Implementing Its Schedule of Fees and Charges for Exchange Services, 48110-48111 [E9-22515]

Download as PDF 48110 Federal Register / Vol. 74, No. 181 / Monday, September 21, 2009 / Notices 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 FINRA. 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–FINRA–2009–058 and should be submitted on or before October 13, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–22513 Filed 9–18–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Implementing Its Schedule of Fees and Charges for Exchange Services September 14, 2009. mstockstill on DSKH9S0YB1PROD with NOTICES Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on September 4, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II and III below, which Items have been prepared by the Exchange. 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 section of its Schedule of Fees and Charges for Exchange Services (the ‘‘Schedule’’) in order to establish a fee for its Risk Management Gateway (‘‘RMG’’) service. The amended section of the Schedule is included as Exhibit 5 hereto. A copy of this filing is available on the Exchange’s Web site at https://www.nyse.com, at the Exchange’s CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. VerDate Nov<24>2008 17:24 Sep 18, 2009 Jkt 217001 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 aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose [Release No. 34–60664; File No. SR– NYSEArca–2009–81] 17 17 principal office and at the Commission’s Public Reference Room. On August 28, 2009 the Exchange filed with the Securities and Exchange Commission to establish its RMG Service. RMG is a service designed to facilitate the ability of Sponsoring ETP Holders to monitor and oversee the sponsored access activity of their Sponsored Participants. NYXATS offers an order-verification service to Sponsoring ETP Holders that acts as a risk filter by causing the orders of Sponsored Participants to pass through RMG prior to entering the Exchange’s trading system for execution. When a Sponsored Participant’s order passes through RMG, RMG software determines whether the order complies with order criteria that the Sponsoring ETP Holder has established for that Sponsored Participant. The order criteria reviewed by RMG may include the size of the order or the credit limit that the Sponsoring ETP Holder has established for the Sponsored Participant. This proposed rule change establishes fees for the RMG service. The Exchange proposes to charge each RMG user Three Thousand Dollars ($3,000) per month for the first Connection plus One Thousand Dollars ($1,000) per month for each additional Connection. A ‘‘Connection’’ is defined as up to 1000 messages per second inbound, regardless of the connection’s actual capacity (i.e., if the NYXT infrastructure allows any single End User connection to support more than 1000 messages per second inbound, such connection will be deemed to be multiple Connections). The Exchange believes that the proposed fee is fair and reasonable and PO 00000 Frm 00060 Fmt 4703 Sfmt 4703 reflects an equitable allocation of charges among its members. The fee compares favorably with the fees that the Exchange’s competitors charge for similar services, and is the same as the fee charged by the NYSE for its similar service. 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’’),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. The Exchange believes that RMG will promote marketplace efficiency by providing security safeguards to the trading of securities by means of sponsored access and believes that the proposed fee is fair and reasonable for the reasons cited above. 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)(ii) of the Act 5 and Rule 19b– 4(f)(2) thereunder,6 because it establishes a due, fee, or other charge imposed by NYSE Arca on its members. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views and 3 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). 5 15 U.S.C. 78s(b)(3)(A)(ii). 6 17 CFR 240.19b-4(f)(2). 4 15 E:\FR\FM\21SEN1.SGM 21SEN1 Federal Register / Vol. 74, No. 181 / Monday, September 21, 2009 / Notices 48111 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: SECURITIES AND EXCHANGE COMMISSION the most significant aspects of such statements. [Release No. 34–60661; File No. SR– NASDAQ–2009–083] Electronic Comments Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule Change To Amend IM–2110–4 To Reflect Changes to a Corresponding FINRA Rule A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change mstockstill on DSKH9S0YB1PROD 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–NYSEArca–2009–81 on the subject line. September 11, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b-4 thereunder,2 Paper Comments notice is hereby given that on September 1, 2009, The NASDAQ Stock • Send paper comments in triplicate Market LLC (the ‘‘Exchange’’ or to Elizabeth M. Murphy, Secretary, ‘‘NASDAQ’’) filed with the Securities Securities and Exchange Commission, and Exchange Commission 100 F Street NE., Washington, DC (‘‘Commission’’) the proposed rule 20549–1090. change as described in Items I, II, and All submissions should refer to File III below, which Items have been Number SR–NYSEArca–2009–81. This prepared by the Exchange. The file number should be included on the Exchange has designated the proposed subject line if e-mail is used. To help the rule change as constituting a nonCommission process and review your controversial rule change under Rule comments more efficiently, please use 19b–4(f)(6) under the Act,3 which only one method. The Commission will renders the proposal effective upon post all comments on the Commission’s filing with the Commission. The Internet Web site (https://www.sec.gov/ Commission is publishing this notice to rules/sro/shtml). Copies of the solicit comments on the proposed rule submission, all subsequent change from interested persons. amendments, all written statements I. Self-Regulatory Organization’s with respect to the proposed rule Statement of the Terms of Substance of change that are filed with the the Proposed Rule Change Commission, and all written communications relating to the The Exchange is filing this proposed proposed rule change between the rule change to amend NASDAQ Rule Commission and any person, other than IM–2110–4 to reflect recent changes to those that may be withheld from the a corresponding rule of the Financial public in accordance with the Industry Regulatory Authority provisions of 5 U.S.C. 552, will be (‘‘FINRA’’). NASDAQ will implement available for inspection and copying in the proposed rule change thirty days the Commission’s Public Reference after the date of the filing. The text of Room, on official business days between the proposed rule change is available at the hours of 10 a.m. and 3 p.m. Copies https://nasdaqomxbx.cchwallstreet.com, of such filing will also be available for at the Exchange’s principal office, and at inspection and copying at the principal the Commission’s Public Reference office of the Exchange. All comments Room. received will be posted without change; II. Self-Regulatory Organization’s the Commission does not edit personal Statement of the Purpose of, and identifying information from Statutory Basis for, the Proposed Rule submissions. You should submit only Change information that you wish to make In its filing with the Commission, the available publicly. All submissions should refer to File No. SR–NYSEArca– Exchange included statements 2009–81 and should be submitted on or concerning the purpose of and basis for the proposed rule change and discussed before October 13, 2009. any comments it received on the For the Commission, by the Division of proposed rule change. The text of these Trading and Markets, pursuant to delegated statements may be examined at the authority.7 places specified in Item IV below. The Florence E. Harmon, Exchange has prepared summaries, set Deputy Secretary. forth in Sections A, B, and C below, of [FR Doc. E9–22515 Filed 9–18–09; 8:45 am] BILLING CODE 8010–01–P 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 17 CFR 240.19b–4(f)(6). CFR 200.30–3(a)(12). VerDate Nov<24>2008 17:24 Sep 18, 2009 Jkt 217001 PO 00000 Frm 00061 Fmt 4703 Many of NASDAQ’s rules are based on rules of FINRA (formerly the National Association of Securities Dealers (‘‘NASD’’)). During 2008, FINRA embarked on an extended process of moving rules formerly designated as ‘‘NASD Rules’’ into a consolidated FINRA rulebook. In most cases, FINRA has renumbered these rules, and in some cases has substantively amended them. Accordingly, NASDAQ also proposes to initiate a process of modifying its rulebook to ensure that NASDAQ rules corresponding to FINRA/NASD rules continue to mirror them as closely as practicable. In some cases, it will not be possible for the rule numbers of NASDAQ rules to mirror corresponding FINRA rules, because existing or planned NASDAQ rules make use of those numbers. However, wherever possible, NASDAQ plans to update its rules to reflect changes to corresponding FINRA rules. This filing addresses NASDAQ IM– 2110–04, which bars trading ahead of research reports and which formerly corresponded to NASD IM–2110–04. In SR–FINRA–2008–054,4 FINRA redesignated that rule as FINRA Rule 5280 and made substantive amendments to strengthen and simplify the rule. Notably, the amended FINRA rule requires FINRA members to establish, maintain and enforce policies and procedures reasonably designed to restrict or limit the flow of information between research department personnel or other persons with knowledge of the content or timing of a research report, and trading department personnel. Such policies and procedures had formerly been recommended but not required. NASDAQ is adopting the new FINRA rule in full (with minor modifications to reflect limits on its jurisdiction to regulate non-NASDAQ conduct), but is continuing to designate its rule as IM– 2110–04 in order to maintain unused numbers of the 5000 Series of the NASDAQ Rules for possible future use. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with 4 Securities Exchange Act Release No. 59254 (January 15, 2009), 74 FR 4271 (January 23, 2009) (SR–FINRA–2008–054). 2 17 7 17 1. Purpose Sfmt 4703 E:\FR\FM\21SEN1.SGM 21SEN1

Agencies

[Federal Register Volume 74, Number 181 (Monday, September 21, 2009)]
[Notices]
[Pages 48110-48111]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-22515]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60664; File No. SR-NYSEArca-2009-81]


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

September 14, 2009.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that 
on September 4, 2009, NYSE Arca, Inc. (``NYSE Arca'' or ``Exchange'') 
filed with the Securities and Exchange Commission (``Commission'') the 
proposed rule change as described in Items I, II and III below, which 
Items have been prepared by the Exchange. 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 the section of its Schedule of Fees 
and Charges for Exchange Services (the ``Schedule'') in order to 
establish a fee for its Risk Management Gateway (``RMG'') service. The 
amended section of the Schedule is included as Exhibit 5 hereto. 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 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 aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    On August 28, 2009 the Exchange filed with the Securities and 
Exchange Commission to establish its RMG Service. RMG is a service 
designed to facilitate the ability of Sponsoring ETP Holders to monitor 
and oversee the sponsored access activity of their Sponsored 
Participants. NYXATS offers an order-verification service to Sponsoring 
ETP Holders that acts as a risk filter by causing the orders of 
Sponsored Participants to pass through RMG prior to entering the 
Exchange's trading system for execution. When a Sponsored Participant's 
order passes through RMG, RMG software determines whether the order 
complies with order criteria that the Sponsoring ETP Holder has 
established for that Sponsored Participant. The order criteria reviewed 
by RMG may include the size of the order or the credit limit that the 
Sponsoring ETP Holder has established for the Sponsored Participant. 
This proposed rule change establishes fees for the RMG service.
    The Exchange proposes to charge each RMG user Three Thousand 
Dollars ($3,000) per month for the first Connection plus One Thousand 
Dollars ($1,000) per month for each additional Connection.
    A ``Connection'' is defined as up to 1000 messages per second 
inbound, regardless of the connection's actual capacity (i.e., if the 
NYXT infrastructure allows any single End User connection to support 
more than 1000 messages per second inbound, such connection will be 
deemed to be multiple Connections).
    The Exchange believes that the proposed fee is fair and reasonable 
and reflects an equitable allocation of charges among its members.
    The fee compares favorably with the fees that the Exchange's 
competitors charge for similar services, and is the same as the fee 
charged by the NYSE for its similar service.
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''),\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. The Exchange believes 
that RMG will promote marketplace efficiency by providing security 
safeguards to the trading of securities by means of sponsored access 
and believes that the proposed fee is fair and reasonable for the 
reasons cited above.
---------------------------------------------------------------------------

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

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

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and

[[Page 48111]]

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-2009-81 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-2009-81. 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, on official 
business days between the hours of 10 a.m. and 3 p.m. Copies of such 
filing will also 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 No. SR-NYSEArca-2009-81 and should be submitted on or before 
October 13, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Florence E. Harmon,
Deputy Secretary.
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

[FR Doc. E9-22515 Filed 9-18-09; 8:45 am]
BILLING CODE 8010-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.