Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to PrecISE Fees, 51895-51896 [E9-24268]

Download as PDF Federal Register / Vol. 74, No. 194 / Thursday, October 8, 2009 / Notices 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: mstockstill on DSKH9S0YB1PROD 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–NASDAQ–2009–086 on the subject line. should be submitted on or before October 29, 2009. Sections A, B, and C below, of the most significant aspects of such statements. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–24243 Filed 10–7–09; 8:45 am] A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change BILLING CODE 8011–01–P The purpose of this proposed rule change is to amend ISE’s fees relating to the Exchange’s proprietary PrecISE Trade® order entry terminals. First, the Exchange currently has a monthly PrecISE sponsored customer fee of $250 per terminal, with a maximum of $1,500 per sponsored customer. A ‘‘Sponsored Customer’’ is a non-Member of the Exchange that trades under a sponsoring Member’s execution and clearing identity. The Exchange permits Sponsored Customers of Members to access the Exchange directly via a PrecISE trade terminal, provided certain conditions are met. The Exchange’s sponsored customer fees have been in place since 2007.3 Earlier this year, the Exchange amended its PrecISE terminal fees by increasing those fees from $300 to $350 per month for the first 10 users and from $50 to $100 per month for all subsequent users.4 The Exchange increased its PrecISE terminal fees to cover its costs of building out an enhanced PrecISE terminal. The PrecISE terminals that sponsored customers use have the same functionalities as the terminals that are used by ISE Members. ISE now proposes to amend its PrecISE sponsored customer fee by aligning this fee with its PrecISE terminal fees. Accordingly, the Exchange proposes to increase its PrecISE sponsored customer fee from $300 to $350 per terminal per month for the first 10 users and from $50 to $100 per month for all subsequent users. In the PrecISE Fee Filing, the Exchange also changed the method for calculating its PrecISE terminal fees.5 ISE now proposes to adopt the same method for calculating its PrecISE sponsored customer fee that it currently uses for calculating the PrecISE terminal fee, which is to charge users for the total number of logins used during a month per Sponsored Customer. Second, the Exchange proposes to remove the PrecISE through VPN fee from its fee schedule. The Exchange no longer supports a PrecISE through VPN SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60780; File No. SR–ISE– 2009–71] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to PrecISE Fees October 2, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the Paper Comments ‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on • Send paper comments in triplicate September 30, 2009, the International to Elizabeth M. Murphy, Secretary, Securities Exchange, LLC (the Securities and Exchange Commission, ‘‘Exchange’’ or ‘‘ISE’’) filed with the 100 F Street, NE., Washington, DC Securities and Exchange Commission 20549–1090. the proposed rule change as described All submissions should refer to File in Items I, II, and III below, which Items Number SR–NASDAQ–2009–086. This have been prepared by the selffile number should be included on the subject line if e-mail is used. To help the regulatory organization. The Commission is publishing this notice to Commission process and review your solicit comments on the proposed rule comments more efficiently, please use only one method. The Commission will change from interested persons. post all comments on the Commission’s I. Self-Regulatory Organization’s Internet Web site (https://www.sec.gov/ Statement of the Terms of Substance of rules/sro.shtml). Copies of the the Proposed Rule Change submission, all subsequent The ISE proposes to amend its fees amendments, all written statements relating to the Exchange’s proprietary with respect to the proposed rule PrecISE Trade® order entry terminals. change that are filed with the The text of the proposed rule change is Commission, and all written available on the Exchange’s Web site communications relating to the (https://www.ise.com), at the principal proposed rule change between the office of the Exchange, and at the Commission and any person, other than Commission’s Public Reference Room. those that may be withheld from the II. Self-Regulatory Organization’s public in accordance with the Statement of the Purpose of, and provisions of 5 U.S.C. 552, will be Statutory Basis for, the Proposed Rule available for inspection and copying in Change the Commission’s Public Reference Room, 100 F Street, NE., Washington, In its filing with the Commission, the DC 20549, on official business days self-regulatory organization included between the hours of 10 a.m. and 3 p.m. statements concerning the purpose of, Copies of such filing also will be and basis for, the proposed rule change available for inspection and copying at and discussed any comments it received the principal office of the Exchange. All on the proposed rule change. The text comments received will be posted of these statements may be examined at without change; the Commission does the places specified in Item IV below. not edit personal identifying The self-regulatory organization has information from submissions. You prepared summaries, set forth in should submit only information that you wish to make publicly available. All 16 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). submissions should refer to File 2 17 CFR 240.19b–4. Number SR–NASDAQ–2009–086 and VerDate Nov<24>2008 18:31 Oct 07, 2009 Jkt 220001 51895 PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 1. Purpose 3 See Exchange Act Release No. 34–56496 (September 21, 2007), 72 FR 55268 (September 28, 2007). 4 See Exchange Act Release No. 34–60208 (July 1, 2009), 74 FR 33012 (July 9, 2009) (the ‘‘PrecISE Fee Filing’’). 5 Id. E:\FR\FM\08OCN1.SGM 08OCN1 51896 Federal Register / Vol. 74, No. 194 / Thursday, October 8, 2009 / Notices connection. Members that used to connect to the Exchange through a VPN now connect to the Exchange via the Internet. These proposed fee changes will be operative on October 1, 2009. 2. Statutory Basis The basis under the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’) 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 to sponsored customers. 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) of the Act 6 and Rule 19b–4(f)(2) 7 thereunder. 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. mstockstill on DSKH9S0YB1PROD with NOTICES IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–ISE–2009–71 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. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60778; File No. SR–ISE– 2009–72] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Customer Fees for Certain Complex Orders October 2, 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 October Number SR–ISE–2009–71. This file 1, 2009, the International Securities number should be included on the Exchange, LLC (the ‘‘Exchange’’ or subject line if e-mail is used. To help the ‘‘ISE’’) filed with the Securities and Commission process and review your Exchange Commission (‘‘Commission’’) comments more efficiently, please use the proposed rule change as described only one method. The Commission will in Items I, II, and III below, which Items post all comments on the Commission’s have been prepared by ISE. ISE filed the proposed rule change pursuant to Internet Web site (https://www.sec.gov/ Section 19(b)(3)(A) of the Act 3 and Rule rules/sro.shtml). Copies of the 19b–4(f)(2) thereunder,4 which renders submission, all subsequent the proposed rule change effective upon amendments, all written statements filing with the Commission. The with respect to the proposed rule Commission is publishing this notice to change that are filed with the solicit comments on the proposed rule Commission, and all written change from interested persons. communications relating to the proposed rule change between the I. Self-Regulatory Organization’s Commission and any person, other than Statement of the Terms of Substance of those that may be withheld from the the Proposed Rule Change public in accordance with the The ISE proposes to amend its fee provisions of 5 U.S.C. 552, will be schedule for customer fees for certain available for inspection and copying in Complex Orders. The text of the the Commission’s Public Reference proposed rule change is available on the Room, 100 F Street, NE., Washington, Exchange’s Web site (https:// DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. www.ise.com), at the principal office of the Exchange, and at the Commission’s Copies of such filing also will be Public Reference Room. 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–ISE–2009–71 and should be submitted on or before October 29, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–24268 Filed 10–7–09; 8:45 am] 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 self-regulatory organization has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 19b–4(f)(2). BILLING CODE 8011–01–P 2 17 6 15 7 17 U.S.C. 78s(b)(3)(A). CFR 19b–4(f)(2). VerDate Nov<24>2008 18:31 Oct 07, 2009 8 17 Jkt 220001 PO 00000 CFR 200.30–3(a)(12). Frm 00067 Fmt 4703 Sfmt 4703 E:\FR\FM\08OCN1.SGM 08OCN1

Agencies

[Federal Register Volume 74, Number 194 (Thursday, October 8, 2009)]
[Notices]
[Pages 51895-51896]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-24268]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60780; File No. SR-ISE-2009-71]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change Relating to PrecISE Fees

October 2, 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 September 30, 2009, the International Securities Exchange, LLC 
(the ``Exchange'' or ``ISE'') filed with the Securities and Exchange 
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 proposes to amend its fees relating to the Exchange's 
proprietary 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 ISE's fees 
relating to the Exchange's proprietary PrecISE Trade[supreg] order 
entry terminals. First, the Exchange currently has a monthly PrecISE 
sponsored customer fee of $250 per terminal, with a maximum of $1,500 
per sponsored customer. A ``Sponsored Customer'' is a non-Member of the 
Exchange that trades under a sponsoring Member's execution and clearing 
identity. The Exchange permits Sponsored Customers of Members to access 
the Exchange directly via a PrecISE trade terminal, provided certain 
conditions are met. The Exchange's sponsored customer fees have been in 
place since 2007.\3\
---------------------------------------------------------------------------

    \3\ See Exchange Act Release No. 34-56496 (September 21, 2007), 
72 FR 55268 (September 28, 2007).
---------------------------------------------------------------------------

    Earlier this year, the Exchange amended its PrecISE terminal fees 
by increasing those fees from $300 to $350 per month for the first 10 
users and from $50 to $100 per month for all subsequent users.\4\ The 
Exchange increased its PrecISE terminal fees to cover its costs of 
building out an enhanced PrecISE terminal. The PrecISE terminals that 
sponsored customers use have the same functionalities as the terminals 
that are used by ISE Members. ISE now proposes to amend its PrecISE 
sponsored customer fee by aligning this fee with its PrecISE terminal 
fees. Accordingly, the Exchange proposes to increase its PrecISE 
sponsored customer fee from $300 to $350 per terminal per month for the 
first 10 users and from $50 to $100 per month for all subsequent users.
---------------------------------------------------------------------------

    \4\ See Exchange Act Release No. 34-60208 (July 1, 2009), 74 FR 
33012 (July 9, 2009) (the ``PrecISE Fee Filing'').
---------------------------------------------------------------------------

    In the PrecISE Fee Filing, the Exchange also changed the method for 
calculating its PrecISE terminal fees.\5\ ISE now proposes to adopt the 
same method for calculating its PrecISE sponsored customer fee that it 
currently uses for calculating the PrecISE terminal fee, which is to 
charge users for the total number of logins used during a month per 
Sponsored Customer.
---------------------------------------------------------------------------

    \5\ Id.
---------------------------------------------------------------------------

    Second, the Exchange proposes to remove the PrecISE through VPN fee 
from its fee schedule. The Exchange no longer supports a PrecISE 
through VPN

[[Page 51896]]

connection. Members that used to connect to the Exchange through a VPN 
now connect to the Exchange via the Internet.
    These proposed fee changes will be operative on October 1, 2009.
2. Statutory Basis
    The basis under the Securities Exchange Act of 1934 (the ``Exchange 
Act'') 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 to sponsored customers.

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) of the Act \6\ and Rule 19b-4(f)(2) \7\ thereunder. 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.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 19b-4(f)(2).
---------------------------------------------------------------------------

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-2009-71 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-2009-71. 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 No. SR-ISE-2009-71 and should be 
submitted on or before October 29, 2009.
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-24268 Filed 10-7-09; 8:45 am]
BILLING CODE 8011-01-P
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