Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to Intermarket Sweep Orders, 19441-19443 [2010-8537]
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Federal Register / Vol. 75, No. 71 / Wednesday, April 14, 2010 / Notices
srobinson on DSKHWCL6B1PROD with NOTICES
value’’ in Rules 24A.4(b)(3) and
24B.4(b)(3), Special Terms for FLEX
Index Options, has the same meaning
set forth in Rule 24.9(5) [sic]. As is
described earlier, the Exchange is
proposing to amend Rule 24.9(a)(5) to
provide that the exercise settlement
value of GVZ options for all purposes
under CBOE Rules will be calculated as
the Wednesday that is thirty days prior
to the third Friday of the calendar
month immediately following the
month in which GVZ options expire.
Capacity:
CBOE has analyzed its capacity and
represents that it believes the Exchange
and the Options Price Reporting
Authority have the necessary systems
capacity to handle the additional traffic
associated with the listing of new series
that would result from the introduction
of GVZ options.
Surveillance:
The Exchange will use the same
surveillance procedures currently
utilized for each of the Exchange’s other
index options to monitor trading in GVZ
options. The Exchange further
represents that these surveillance
procedures shall be adequate to monitor
trading in options on these volatility
indexes. For surveillance purposes, the
Exchange will have complete access to
information regarding trading activity in
the pertinent underlying securities.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve such proposed
rule change, or
(B) Institute proceedings to determine
whether the proposed rule change
should be disapproved.
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/
2. Statutory Basis
rules/sro.shtml); or
• Send an e-mail to ruleThe Exchange believes that the
proposed rule change is consistent with comments@sec.gov. Please include File
Section 6(b) 16 of the Act, in general, and No. SR–CBOE–2010–018 on the subject
line.
furthers the objectives of Section
6(b)(5) 17 in particular in that it is
Paper Comments
designed to prevent fraudulent and
• Send paper comments in triplicate
manipulative acts and practices, to
promote just and equitable principles of to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
trade, to foster cooperation and
100 F Street, NE., Washington, DC
coordination with persons engaged in
20549–1090.
facilitating transactions in securities,
All submissions should refer to File No.
and to remove impediments to and
SR–CBOE–2010–018. This file number
perfect the mechanism of a free and
should be included on the subject line
open market and a national market
if e-mail is used. To help the
system, and thereby will provide
Commission process and review your
investors with the ability to invest in
options based on an additional volatility comments more efficiently, please use
only one method. The Commission will
index.
post all comments on the Commission’s
B. Self-Regulatory Organization’s
Internet Web site (https://www.sec.gov/
Statement on Burden on Competition
rules/sro.shtml). Copies of the
submission,18 all subsequent
CBOE does not believe that the
amendments, all written statements
proposed rule change will impose any
with respect to the proposed rule
burden on competition not necessary or
change that are filed with the
appropriate in furtherance of the
Commission, and all written
purposes of the Act.
18 The text of the proposed rule change is
available on the Commission’s Web site at https://
www.sec.gov.
16 15
U.S.C. 78f(b).
17 15 U.S.C. 78f(b)(5).
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19441
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 Web site viewing and
printing 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 CBOE.
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–CBOE–2010–018 and should be
submitted on or before May 5, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.19
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–8536 Filed 4–13–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61855; File No. SR–ISE–
2010–26]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Related to Intermarket Sweep
Orders
April 6, 2010.
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 March 26,
2010, the International Securities
Exchange, LLC (the ‘‘Exchange’’ or the
‘‘ISE’’) filed with the Securities and
Exchange Commission (the ‘‘SEC’’ or 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.
19 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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19442
Federal Register / Vol. 75, No. 71 / Wednesday, April 14, 2010 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to adopt a fee
and credit related to the execution of
Intermarket Sweep Orders (‘‘ISOs’’) by
Primary Market Makers (‘‘PMMs’’) on
behalf of non-broker/dealer Professional
Orders..[sic] 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
srobinson on DSKHWCL6B1PROD with NOTICES
(1) Purpose—The purpose of this
proposed rule change is to adopt a fee
and credit related to the execution of
ISOs by PMMs on behalf of non-broker/
dealer Professional Orders.3
On August 31, 2009, the Exchange
implemented the new Options Order
Protection and Locked/Crossed Market
Plan (‘‘Distributive Linkage’’) and the
use of ISOs. Consistent with Distributive
Linkage and pursuant to ISE rules, the
Exchange’s Primary Market Makers
(‘‘PMMs’’) have an obligation to address
customer 4 orders when there is a better
market displayed on another exchange.
ISE’s PMMs meet this obligation via the
use of ISOs. In meeting their obligations,
PMMs may incur fees when they send
ISOs, especially when sending ISOs to
exchanges that charge ‘‘taker’’ fees. To
minimize the PMM’s financial burden
and help offset such fees, the ISE
3 Pursuant to ISE Rule 100(37C), a Professional
Order is an order that is for that account of a person
or entity that is not a Priority Customer. Pursuant
to ISE Rule 100(37A), a Priority Customer is a
person or entity that is not a broker or dealer in
securities, and does not place more than 390 orders
in listed options per day on average during a
calendar month for its own beneficial account.
4 Pursuant to ISE Rule 1900(f) of the Distributive
Linkage rules, a customer is an individual or
organization that is not a broker-dealer.
VerDate Nov<24>2008
17:27 Apr 13, 2010
Jkt 220001
amended its schedule of fees on October
1, 2009 to adopt a rebate for the PMM
of $0.20 per contract on all ISO orders
sent to an away exchange (regardless of
the fee charged by the exchange where
the ISO order sent away was executed).5
The Exchange is now proposing to
charge non-broker/dealer Professional
Orders a fee of $0.45 per contract for
executions that result from the PMM
routing ISOs to away exchanges and to
provide the PMM with a credit equal to
the fee charged by the destination
exchange for such non-broker/dealer
Professional Orders, but not more than
$0.45 per contract. Charging non-broker/
dealer Professional Orders a fee to offset
the charges assessed to the PMM by
other exchanges for ‘‘linkage’’ executions
is appropriate because the market
professionals that are submitting nonbroker/dealer Professional Orders can
route directly to the away exchanges, if
desired, and, therefore, should not be
able to forgo the away market fee, at the
expense of the PMM, by directing their
orders to the ISE.6 The Exchange will
continue to provide the existing $0.20
rebate to PMMs for Priority Customer
Orders.7
The proposed fee changes will
become operative on April 1, 2010.
(2) Basis—The basis under the
Securities Exchange Act of 1934 (the
‘‘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, the proposed fee change will
more effectively offset fees incurred by
PMMs when they send ISOs to away
markets.
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
5 See Securities and Exchange Act Release No.
60791 (October 5, 2009), 74 FR 52521 (October 13,
2009)(SR–ISE–2009–74).
6 The Chicago Board Options Exchange (‘‘CBOE’’)
charges a comparable route-out fee for noncustomer orders. See CBOE Fee Schedule, Item 20.
See Securities Exchange Act Release No. 61701
(March 12, 2010), 75 FR 13622 (March 22,
2010)(SR–CBOE–2010–022).
7 See note 3.
PO 00000
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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 8 and Rule 19b–4(f)(2) 9
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.
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
No. SR–ISE–2010–26 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–2010–26. 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 Commissions
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 website viewing and
printing in the Commission’s Public
8 15
9 17
E:\FR\FM\14APN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 19b–4(f)(2).
14APN1
Federal Register / Vol. 75, No. 71 / Wednesday, April 14, 2010 / Notices
Reference Room on official business
days between the hours of 10 a.m. and
3 p.m. Copies of such filing also will be
available inspection and copying at the
principal office of the 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–2010–26 and should be
submitted by May 5, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–8537 Filed 4–13–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61864; File No. SR–
NYSEAmex–2010–36]
Self-Regulatory Organizations; NYSE
Amex LLC; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Establish Fees for
Professional Customers and To Make
Certain Other Changes to its Options
Fee Schedule
srobinson on DSKHWCL6B1PROD with NOTICES
April 7, 2010.
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 April 1,
2010, NYSE Amex LLC (‘‘NYSE Amex’’
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. NYSE Amex
has designated this proposal as one
establishing or changing a member due,
fee, or other charge imposed under
Section 19(b)(3)(A)(ii) of the Act 3 and
Rule 19b–4(f)(2) thereunder,4 which
renders the proposal effective upon
filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
VerDate Nov<24>2008
17:27 Apr 13, 2010
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes multiple
changes to its Schedule of Fees and
Charges (the ‘‘Schedule’’) effective April
1, 2010. 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, the Commission’s
Public Reference Room, and on the
Commission’s Web site at https://
www.sec.gov.
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
NYSE Amex proposes to establish fees
for a new type of customer known as a
Professional Customer as defined in
proposed NYSE Amex rule
900.2NY(18A), effective April 1, 2010,
contingent upon the approval of the
Professional Customer rule filing.5 This
new designation will treat Professional
Customers in the same manner as
Broker Dealers for purposes of priority
and parity. Consistent with that
treatment, the Exchange is seeking to
establish fees for Professional Customers
that are the same as the fees charged to
the execution of Broker Dealer orders.
Professional Customer orders that are
executed electronically will be subject
to a fee of $.20 per contract. Professional
Customer orders executed in open
outcry will be subject to a fee of $.25 per
contract. Professional Customer
transactions in any product that has a
licensing or royalty fee will be assessed
that fee as well.
NYSE Amex also proposes to clarify
the treatment of Professional Customer
5 Securities Exchange Act Release No. 61629
(March 2, 2010), 75 FR 10851 (March 9,
2010)(Notice of Filing of SR–NYSEAmex–2010–18).
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19443
orders as they relate to certain
provisions in the Fee Schedule. For
purposes of the calculation associated
with the Specialist/e-Specialist/DOMM
Rights Fee, Professional Customer
orders will be treated as Customer
orders. The Routing Surcharge will be
assessed on all non-customer orders
routed to away markets and on
Customer orders, including Professional
Customer orders, that are charged a
transaction fee at another exchange. The
Cancellation Fee will not apply to
Professional Customer orders. Only
public customer electronic orders that
trade contra to a market maker will
result in the collection of marketing
charges under the Exchange’s payment
for order flow program. Broker Dealer
and Professional Customer electronic
orders that trade contra to a market
maker will not result in the collection
of marketing charges.
The Exchange proposes to restructure
certain trade related charges for nonelectronic trades. These trades are
executed in the Firm range (clearance
account ‘‘F’’) and are currently billed
either the Firm Facilitation rate or the
Broker Dealer & Firm Manual rate.
Under the current rate schedule trades
by a firm that facilitate a customer, or
Firm Facilitation trades, are subject to a
$0.00 rate per contract. Firm
transactions not facilitating a customer
are subject to a $0.25 Broker/Dealer &
Firm Manual rate. Under the revised
rate schedule all manual trades clearing
in the Firm range will be subject to a
rate of $0.25 per contract, subject to
tiered pricing as described below. The
Exchange believes that billing all Firm
Manual transactions at the same rate is
a fair and equitable allocation of fees.
NYSE Amex also proposes to adopt a
tiered pricing schedule applicable to
Firm Proprietary manual executions on
behalf of ATP holders that clear in the
firm range. The tiered schedule seeks to
create an incentive for executing more
manual Firm Proprietary volume on the
Exchange. At the same time, the
Exchange proposes to reduce the fees for
electronic executions for Broker Dealers
and Firm Proprietary activity from $.30
per contract to $.20 per contract. Firm
Proprietary electronic trades will now
be represented as a separate line on the
Schedule. Concurrently, with the
implementation of tiered pricing for
Firm Proprietary manual volumes, Firm
Facilitation trades will be eliminated as
a separate category on the fee schedule.
All non-Strategy Executions currently
executed as Firm Facilitation trades in
open outcry or manual trades will fall
under the new tiered pricing schedule
and the customer side of a Firm
Facilitation trade will continue to
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]]>Agencies
[Federal Register Volume 75, Number 71 (Wednesday, April 14, 2010)]
[Notices]
[Pages 19441-19443]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-8537]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61855; File No. SR-ISE-2010-26]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Related to Intermarket Sweep Orders
April 6, 2010.
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 March 26, 2010, the International Securities Exchange, LLC (the
``Exchange'' or the ``ISE'') filed with the Securities and Exchange
Commission (the ``SEC'' or 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.
---------------------------------------------------------------------------
[[Page 19442]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to adopt a fee and credit related to the
execution of Intermarket Sweep Orders (``ISOs'') by Primary Market
Makers (``PMMs'') on behalf of non-broker/dealer Professional
Orders..[sic] 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 adopt a
fee and credit related to the execution of ISOs by PMMs on behalf of
non-broker/dealer Professional Orders.\3\
---------------------------------------------------------------------------
\3\ Pursuant to ISE Rule 100(37C), a Professional Order is an
order that is for that account of a person or entity that is not a
Priority Customer. Pursuant to ISE Rule 100(37A), a Priority
Customer is a person or entity that is not a broker or dealer in
securities, and does not place more than 390 orders in listed
options per day on average during a calendar month for its own
beneficial account.
---------------------------------------------------------------------------
On August 31, 2009, the Exchange implemented the new Options Order
Protection and Locked/Crossed Market Plan (``Distributive Linkage'')
and the use of ISOs. Consistent with Distributive Linkage and pursuant
to ISE rules, the Exchange's Primary Market Makers (``PMMs'') have an
obligation to address customer \4\ orders when there is a better market
displayed on another exchange. ISE's PMMs meet this obligation via the
use of ISOs. In meeting their obligations, PMMs may incur fees when
they send ISOs, especially when sending ISOs to exchanges that charge
``taker'' fees. To minimize the PMM's financial burden and help offset
such fees, the ISE amended its schedule of fees on October 1, 2009 to
adopt a rebate for the PMM of $0.20 per contract on all ISO orders sent
to an away exchange (regardless of the fee charged by the exchange
where the ISO order sent away was executed).\5\
---------------------------------------------------------------------------
\4\ Pursuant to ISE Rule 1900(f) of the Distributive Linkage
rules, a customer is an individual or organization that is not a
broker-dealer.
\5\ See Securities and Exchange Act Release No. 60791 (October
5, 2009), 74 FR 52521 (October 13, 2009)(SR-ISE-2009-74).
---------------------------------------------------------------------------
The Exchange is now proposing to charge non-broker/dealer
Professional Orders a fee of $0.45 per contract for executions that
result from the PMM routing ISOs to away exchanges and to provide the
PMM with a credit equal to the fee charged by the destination exchange
for such non-broker/dealer Professional Orders, but not more than $0.45
per contract. Charging non-broker/dealer Professional Orders a fee to
offset the charges assessed to the PMM by other exchanges for
``linkage'' executions is appropriate because the market professionals
that are submitting non-broker/dealer Professional Orders can route
directly to the away exchanges, if desired, and, therefore, should not
be able to forgo the away market fee, at the expense of the PMM, by
directing their orders to the ISE.\6\ The Exchange will continue to
provide the existing $0.20 rebate to PMMs for Priority Customer
Orders.\7\
---------------------------------------------------------------------------
\6\ The Chicago Board Options Exchange (``CBOE'') charges a
comparable route-out fee for non-customer orders. See CBOE Fee
Schedule, Item 20. See Securities Exchange Act Release No. 61701
(March 12, 2010), 75 FR 13622 (March 22, 2010)(SR-CBOE-2010-022).
\7\ See note 3.
---------------------------------------------------------------------------
The proposed fee changes will become operative on April 1, 2010.
(2) Basis--The basis under the Securities Exchange Act of 1934 (the
``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, the proposed fee change will more
effectively offset fees incurred by PMMs when they send ISOs to away
markets.
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 \8\ and Rule 19b-4(f)(2) \9\ 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 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 No. SR-ISE-2010-26 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-2010-26. 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 Commissions 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 website viewing and printing in
the Commission's Public
[[Page 19443]]
Reference Room on official business days between the hours of 10 a.m.
and 3 p.m. Copies of such filing also will be available inspection and
copying at the principal office of the 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-2010-26 and should be submitted by
May 5, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-8537 Filed 4-13-10; 8:45 am]
BILLING CODE 8011-01-P
