Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to a New Category of Fees for “Professionals”, 20871-20873 [2010-9115]
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Federal Register / Vol. 75, No. 76 / Wednesday, April 21, 2010 / Notices
System (NAICS) code 339113 (Surgical
Appliance and Supplies
Manufacturing).
SUMMARY: The U.S. Small Business
Administration (SBA) is considering
granting a waiver of the
Nonmanufacturer Rule for Improved
Outer Tactical Vests. According to a
request, no small business
manufacturers supply these products to
the Federal government. If granted, the
waiver would allow an otherwise
qualified nonmanufacturer to supply the
products of any manufacturer on a
Federal contract set aside for small
businesses, service-disabled veteranowned small businesses, or Participants
in the SBA’s 8(a) Business Development
(BD) Program.
DATES: Comments and source
information must be submitted May 6,
2010.
ADDRESSES: You may submit comments
and source information to Pamela M.
McClam, Program Analyst, Small
Business Administration, Office of
Government Contracting, 409 3rd Street,
SW., Suite 8800, Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT: Ms.
Pamela M. McClam, by telephone at
(202) 205–7408; by FAX at (202) 481–
4783, or by e-mail at
Pamela.mcclam@sba.gov.
Section
8(a)(17) of the Small Business Act (Act),
15 U.S.C. 637(a)(17), and SBA’s
implementing regulations provide that
recipients of Federal contracts set aside
for small businesses, service-disabled
veteran-owned small businesses, or
Participants in the SBA’s 8(a) BD
Program must provide the product of a
small business manufacturer or
processor, if the recipient is other than
the actual manufacturer or processor of
the product. This requirement is
commonly referred to as the
Nonmanufacturer Rule. 13 CFR
121.406(b),125.15(c). Section
8(a)(17)(b)(iv) of the Act authorizes SBA
to waive the Nonmanufacturer Rule for
any ‘‘class of products’’ for which there
are no small business manufacturers or
processors available to participate in the
Federal market.
In order to be considered available to
participate in the Federal market for a
class of products, a small business
manufacturer must have submitted a
proposal for a contract solicitation or
received a contract from the Federal
government within the last 24 months.
13 CFR 121.1202(1). The SBA defines
‘‘class of products’’ based on Office of
Management and Budget’s NAICS. In
addition, SBA uses PSCs to identify
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SUPPLEMENTARY INFORMATION:
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particular products within the NAICS
code to which a waiver would apply.
The SBA is currently processing a
request to waive the Nonmanufacturer
Rule for Improved Outer Tactical Vests
and related accessories under NAICS
code 339113, Surgical Appliance and
Supplies Manufacturing, PSC 8470—
Armor Personal.
The public is invited to comment or
provide source information to SBA on
the proposed waivers of the
Nonmanufacturer Rule for this class of
product within 15 days after date of
publication in the Federal Register.
Dated: April 14, 2010.
Randall S. Johnston,
Deputy Director for Government Contracting.
[FR Doc. 2010–9142 Filed 4–20–10; 8:45 am]
BILLING CODE 8025–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61905; File No. SR–Phlx–
2010–55]
Self-Regulatory Organizations;
NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to a
New Category of Fees for
‘‘Professionals’’
April 14, 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 March 31,
2010, NASDAQ OMX PHLX, Inc.
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘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 adopt fees
for a new type of participant called
‘‘professional.’’ 3
While changes to the Exchange’s Fee
Schedule pursuant to this proposal are
effective upon filing, the Exchange has
designated this proposal to be operative
on April 1, 2010.
The text of the proposed rule change
is available on the Exchange’s Web site
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 61802
(March 30, 2010), 75 FR 17193 (April 5, 2010) (SR–
Phlx–2010–05).
2 17
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20871
at https://nasdaqtrader.com/
micro.aspx?id=PHLXfilings, at the
principal office of the Exchange, at 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
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
The purpose of the proposed rule
change is to adopt a new category of
fees, ‘‘professional.’’ The Exchange
believes that the proposed fees for
professional orders will allow the
Exchange to remain competitive with
other options exchanges who apply fees
to professional orders.
The Exchange defines a ‘‘professional’’
as any person or entity that (i) is not a
broker or dealer in securities, and (ii)
places more than 390 orders in listed
options per day on average during a
calendar month for its own beneficial
account(s) 4 (hereinafter ‘‘Professional’’).
The Exchange proposes to add a
‘‘Professional’’ fee category to its
transaction fees for equity options,
index options and foreign currency
options. The Exchange proposes to
amend Categories II, III and IV of the
Fee Schedule to assess a $0.20
transaction fee on Professional orders in
all equity option classes, a $0.35
transaction fee on Professional orders in
sector index options and a $0.30
transaction fee on Professional orders in
U.S. dollar-settled foreign currency
options.
4 A Professional will be treated in the same
manner as an off-floor broker-dealer for purposes of
Rules 1014(g) (except with respect to all-or-none
orders, which will be treated like customer orders),
1033(e), 1064.02 (except professional orders will be
considered customer orders subject to facilitation),
and 1080.08 as well as Options Floor Procedure
Advices B–6, B–11 and F–5. Member organizations
must indicate whether orders are for professionals.
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Federal Register / Vol. 75, No. 76 / Wednesday, April 21, 2010 / Notices
The Exchange is also proposing that
Payment For Order Flow Fees 5 not be
assessed on Professional orders and is
amending Category II of the Fee
Schedule to reflect that. The Exchange
would not assess a payment for order
flow fee on professional orders, because
the Exchange believes payment for order
flow fees are not required to remain
competitive with other options
exchanges with respect to Professional
orders.6
In Category V of the Fee Schedule, the
Exchange is also proposing that
Cancellation Fees 7 not be assessed on
Professional orders. The Exchange is
excluding professional orders from the
computation of the Cancellation Fee,
because the Exchange does not believe
that these orders raise the types of
issues that the Cancellation Fee is
intended to address.8
The Exchange also proposes to add a
notation to the Routing Fees in Category
IX to indicate that Professional orders
will be subject to the Routing Fees.
2. Statutory Basis
The Exchange believes that its
proposal to amend its schedule of fees
is consistent with Section 6(b) of the
Act 9 in general, and furthers the
objectives of Section 6(b)(4) of the Act 10
in particular, in that it is an equitable
allocation of reasonable fees and other
charges among Exchange members. The
Exchange believes that adding
Professional fees to the fees applicable
to the other equity options, sector index
options and foreign currency options
transaction fees is fair and reasonable,
because the proposed fees are similar to
the transaction fees applicable to broker-
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5 The
Exchange currently assesses $.25 per
contract for options that are executed in the penny
pilot program and $.70 for remaining equity
options. These fees are assessed for trades resulting
from either Directed or non-Directed Orders that are
delivered electronically and executed on the
Exchange: Assessed on ROTs, specialists and
Directed ROTs on those trades when the specialist
unit or Directed ROT elects to participate in the
payment for order flow program.
6 See Securities Exchange Act Release No. 61693
(March 11, 2010), 75 FR 13175 (March 18, 2010)
(SR–ISE–2010–16).
7 The Exchange currently assesses $2.10 per order
for each cancelled electronically delivered customer
order in excess of the number of customer orders
executed on the Exchange by a member
organization in a given month. All customer orders
from the same member organization that are
executed in the same series on the same side of the
market at the same price within a 300 second
period will be aggregated and counted as one
executed customer options order.
8 See Securities Exchange Act Release No. 60188
(June 29, 2009), 74 FR 32986 (July 9, 2009) (SR–
Phlx–2009–48).
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(4).
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dealers trading on Phlx 11 as well as fees
assessed by other options exchanges.
For example, CBOE assesses a $0.20 per
contract fee for professional orders in
equity options,12 the same as the
Exchange’s proposed Category II fees.
With regard to the sector index
options fees and foreign currency
options fees proposed for Professionals,
these charges are similar to the current
transaction fees assessed on the
Exchange’s Registered Options Traders
pursuant to Categories III and IV of the
Exchange’s Fee Schedule; and therefore,
the Exchange believes the proposed fee
is fair and reasonable.
The Exchange believes that excluding
Professional orders from the
computation of the Cancellation Fee
will continue to fairly allocate costs
among members according to system
use, which is the purpose of
cancellation fees. In addition, the
Exchange will not assess specialists,
SQTs, RSQTs and ROTs a payment for
order flow fee on Professional orders, in
order to compete with other options
exchanges.
The Exchange also proposes to specify
that Routing Fees apply to Professional
orders for purposes of clarity.
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 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 either
solicited or received.
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)(A)(ii) of the Act 13 and
paragraph (f)(2) of Rule 19b–4 14
thereunder. 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,
11 The options transaction charge for firms is $.25
per contract; see Category II of the Fee Schedule.
12 See Securities Exchange Act Release No. 61329
(January 11, 2010), 75 FR 2901 (January 19, 2010)
(SR–CBOE–2009–101).
13 15 U.S.C. 78s(b)(3)(A)(ii).
14 17 CFR 240.19b–4(f)(2).
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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–Phlx–2010–55 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 No.
SR–Phlx–2010–55. 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 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 Phlx.
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–Phlx–2010–55 and should be
submitted on or before May 12, 2010.
15 17
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CFR 200.30–3(a)(12).
21APN1
Federal Register / Vol. 75, No. 76 / Wednesday, April 21, 2010 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–9115 Filed 4–20–10; 8:45 am]
BILLING CODE 8011–01–P
DEPARTMENT OF STATE
[Public Notice: 6961]
60-Day Notice of Proposed Information
Collection: DS–2020 Retail Price
Schedule, Part 3 and Part 4, 1405–
XXXX
Notice of request for public
comments.
ACTION:
The Department of State is
seeking Office of Management and
Budget (OMB) approval for the
information collection described below.
The purpose of this notice is to allow 60
days for public comment in the Federal
Register preceding submission to OMB.
We are conducting this process in
accordance with the Paperwork
Reduction Act of 1995.
• Title of Information Collection:
Retail Price Schedule.
• OMB Control Number: No OMB
Control Number has yet been assigned.
• Type of Request: New Collection.
• Originating Office: Bureau of
Administration Office of Allowances
(A/OPR/ALS).
• Form Number: DS–2020.
• Respondents: Respondents are
managers of retail price outlets in the
Washington, DC area and at 96 foreign
locations.
• Estimated Number of Respondents:
3888 annually. The estimate represents
the number of outlets visited annually
worldwide.
• Estimated Number of Responses:
4032.
• Average Hours Per Response: It is
estimated that the average in
Washington, DC is one hour. The
estimate for foreign locations is twenty
minutes.
• Total Estimated Burden: 1,376
hours.
• Frequency: Biennially at foreign
posts. Quarterly in Washington, D.C.
• Obligation to Respond: Responses
from outlets is Voluntary. However, the
collection and submission of the data by
USG posts is required for Federal
employees to obtain/retain a benefit.
DATES: The Department will accept
comments from the public up to 60 days
from April 21, 2010.
ADDRESSES: You may submit comments
by any of the following methods:
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SUMMARY:
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14:33 Apr 20, 2010
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• E-mail: AllowancesO@state.gov.
• Mail (paper, disk, or CD–ROM
submissions): Office of Allowances (A/
OPR/ALS), Room L314 SA–1,
Department of State, Washington, DC
20522–0103
• Fax: (202) 261–8707 or (202) 261–
8708
• Hand Delivery or Courier: Office of
Allowances (A/OPR/ALS) Room L314,
Department of State, 2401 E Street, NW.,
Washington, DC 20037
You must include the DS form
number (if applicable), information
collection title, and OMB control
number in any correspondence.
FOR FURTHER INFORMATION CONTACT:
Direct requests for additional
information regarding the collection
listed in this notice, including requests
for copies of the proposed information
collection and supporting documents, to
George W. Indyke, Director, Office of
Allowances, Room L314 SA–1,
Washington, DC 20522–0103, who may
be reached on (202) 261–8700 or at
AllowancesO@state.gov.
We are
soliciting public comments to permit
the Department to:
• Evaluate whether the proposed
information collection is necessary for
the proper performance of our
functions.
• Evaluate the accuracy of our
estimate of the burden of the proposed
collection, including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected.
• Minimize the reporting burden on
those who are to respond, including the
use of automated collection techniques
or other forms of technology.
Abstract of proposed collection: The
collected data is used by the Department
of State to carry out its responsibilities
under 5 U.S.C. 5924(1), and Executive
Orders 10903 and by the Department of
Defense to carry out responsibilities
under 37 USC 405. It is the primary
source of information used to establish/
justify post (cost of living) allowances
for all Federal civilian employees
assigned abroad and cost of living
allowances for uniformed service
members. The respondents are the store/
department managers of approximately
40 retail outlets at each foreign post and
approximately 48 retail outlets in the
Washington, DC area.
Methodology: U.S.G. employees or
contractors visit the retail outlets and
gather prices personally. The estimated
burden for respondents is based on the
time the Price Collectors may spend
with them to explain the purpose of the
SUPPLEMENTARY INFORMATION:
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20873
data collection and seek their
cooperation with having the price
collector gather prices. Once the price
collector has completed the cost data
collection, the information is entered in
the eAllowances program for electronic
submission to the Department of State’s
Office of Allowances.
Dated: April 16, 2010.
Steven J. Rodriguez,
Deputy Assistant Secretary for Operations,
Bureau of dministration, Department of State.
[FR Doc. 2010–9183 Filed 4–20–10; 8:45 am]
BILLING CODE 4710–24–P
DEPARTMENT OF STATE
[Public Notice 6960]
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘The
Glory of Ukraine: Golden Treasures
and Lost Civilizations’’
SUMMARY: Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
27, 1978, the Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, Delegation of Authority
No. 236 of October 19, 1999, as
amended, and Delegation of Authority
No. 257 of April 15, 2003 [68 FR 19875],
I hereby determine that the objects to be
included in the exhibition ‘‘The Glory of
Ukraine: Golden Treasures and Lost
Civilizations,’’ imported from abroad for
temporary exhibition within the United
States, are of cultural significance. The
objects are imported pursuant to loan
agreements with the foreign owners or
custodians. I also determine that the
exhibition or display of the exhibit
objects at the Museum of Russian Art,
Minneapolis, MN, from on or about
September 3, 2010, until on or about
January 23, 2011; the Joslyn Museum of
Art, Omaha, NE, from on or about
January 2011 until on or about May
2011; the Houston Museum of Natural
Science, Houston TX, from on or about
May 27, 2011, to on or about September
5, 2011, and at possible additional
exhibitions or venues yet to be
determined, is in the national interest.
Public Notice of these Determinations is
ordered to be published in the Federal
Register.
FOR FURTHER INFORMATION CONTACT: For
further information, including a list of
the exhibit objects, contact Carol B.
Epstein, Attorney-Adviser, Office of the
Legal Adviser, U.S. Department of State
(telephone: 202/632–6473). The address
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]]>Agencies
[Federal Register Volume 75, Number 76 (Wednesday, April 21, 2010)]
[Notices]
[Pages 20871-20873]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-9115]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61905; File No. SR-Phlx-2010-55]
Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
a New Category of Fees for ``Professionals''
April 14, 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 March 31, 2010, NASDAQ OMX PHLX, Inc. (``Phlx'' or ``Exchange'')
filed with the Securities and Exchange Commission (``SEC'' or
``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 adopt fees for a new type of participant
called ``professional.'' \3\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 61802 (March 30,
2010), 75 FR 17193 (April 5, 2010) (SR-Phlx-2010-05).
---------------------------------------------------------------------------
While changes to the Exchange's Fee Schedule pursuant to this
proposal are effective upon filing, the Exchange has designated this
proposal to be operative on April 1, 2010.
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqtrader.com/micro.aspx?id=PHLXfilings, at the
principal office of the Exchange, at 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 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
The purpose of the proposed rule change is to adopt a new category
of fees, ``professional.'' The Exchange believes that the proposed fees
for professional orders will allow the Exchange to remain competitive
with other options exchanges who apply fees to professional orders.
The Exchange defines a ``professional'' as any person or entity
that (i) is not a broker or dealer in securities, and (ii) places more
than 390 orders in listed options per day on average during a calendar
month for its own beneficial account(s) \4\ (hereinafter
``Professional'').
---------------------------------------------------------------------------
\4\ A Professional will be treated in the same manner as an off-
floor broker-dealer for purposes of Rules 1014(g) (except with
respect to all-or-none orders, which will be treated like customer
orders), 1033(e), 1064.02 (except professional orders will be
considered customer orders subject to facilitation), and 1080.08 as
well as Options Floor Procedure Advices B-6, B-11 and F-5. Member
organizations must indicate whether orders are for professionals.
---------------------------------------------------------------------------
The Exchange proposes to add a ``Professional'' fee category to its
transaction fees for equity options, index options and foreign currency
options. The Exchange proposes to amend Categories II, III and IV of
the Fee Schedule to assess a $0.20 transaction fee on Professional
orders in all equity option classes, a $0.35 transaction fee on
Professional orders in sector index options and a $0.30 transaction fee
on Professional orders in U.S. dollar-settled foreign currency options.
[[Page 20872]]
The Exchange is also proposing that Payment For Order Flow Fees \5\
not be assessed on Professional orders and is amending Category II of
the Fee Schedule to reflect that. The Exchange would not assess a
payment for order flow fee on professional orders, because the Exchange
believes payment for order flow fees are not required to remain
competitive with other options exchanges with respect to Professional
orders.\6\
---------------------------------------------------------------------------
\5\ The Exchange currently assesses $.25 per contract for
options that are executed in the penny pilot program and $.70 for
remaining equity options. These fees are assessed for trades
resulting from either Directed or non-Directed Orders that are
delivered electronically and executed on the Exchange: Assessed on
ROTs, specialists and Directed ROTs on those trades when the
specialist unit or Directed ROT elects to participate in the payment
for order flow program.
\6\ See Securities Exchange Act Release No. 61693 (March 11,
2010), 75 FR 13175 (March 18, 2010) (SR-ISE-2010-16).
---------------------------------------------------------------------------
In Category V of the Fee Schedule, the Exchange is also proposing
that Cancellation Fees \7\ not be assessed on Professional orders. The
Exchange is excluding professional orders from the computation of the
Cancellation Fee, because the Exchange does not believe that these
orders raise the types of issues that the Cancellation Fee is intended
to address.\8\
---------------------------------------------------------------------------
\7\ The Exchange currently assesses $2.10 per order for each
cancelled electronically delivered customer order in excess of the
number of customer orders executed on the Exchange by a member
organization in a given month. All customer orders from the same
member organization that are executed in the same series on the same
side of the market at the same price within a 300 second period will
be aggregated and counted as one executed customer options order.
\8\ See Securities Exchange Act Release No. 60188 (June 29,
2009), 74 FR 32986 (July 9, 2009) (SR-Phlx-2009-48).
---------------------------------------------------------------------------
The Exchange also proposes to add a notation to the Routing Fees in
Category IX to indicate that Professional orders will be subject to the
Routing Fees.
2. Statutory Basis
The Exchange believes that its proposal to amend its schedule of
fees is consistent with Section 6(b) of the Act \9\ in general, and
furthers the objectives of Section 6(b)(4) of the Act \10\ in
particular, in that it is an equitable allocation of reasonable fees
and other charges among Exchange members. The Exchange believes that
adding Professional fees to the fees applicable to the other equity
options, sector index options and foreign currency options transaction
fees is fair and reasonable, because the proposed fees are similar to
the transaction fees applicable to broker-dealers trading on Phlx \11\
as well as fees assessed by other options exchanges. For example, CBOE
assesses a $0.20 per contract fee for professional orders in equity
options,\12\ the same as the Exchange's proposed Category II fees.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b).
\10\ 15 U.S.C. 78f(b)(4).
\11\ The options transaction charge for firms is $.25 per
contract; see Category II of the Fee Schedule.
\12\ See Securities Exchange Act Release No. 61329 (January 11,
2010), 75 FR 2901 (January 19, 2010) (SR-CBOE-2009-101).
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With regard to the sector index options fees and foreign currency
options fees proposed for Professionals, these charges are similar to
the current transaction fees assessed on the Exchange's Registered
Options Traders pursuant to Categories III and IV of the Exchange's Fee
Schedule; and therefore, the Exchange believes the proposed fee is fair
and reasonable.
The Exchange believes that excluding Professional orders from the
computation of the Cancellation Fee will continue to fairly allocate
costs among members according to system use, which is the purpose of
cancellation fees. In addition, the Exchange will not assess
specialists, SQTs, RSQTs and ROTs a payment for order flow fee on
Professional orders, in order to compete with other options exchanges.
The Exchange also proposes to specify that Routing Fees apply to
Professional orders for purposes of clarity.
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 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 either solicited or received.
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)(A)(ii) of the Act \13\ and paragraph (f)(2) of Rule 19b-4 \14\
thereunder. 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.
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\13\ 15 U.S.C. 78s(b)(3)(A)(ii).
\14\ 17 CFR 240.19b-4(f)(2).
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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-Phlx-2010-55 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 No. SR-Phlx-2010-55. 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 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 Phlx. 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-Phlx-2010-55 and should be
submitted on or before May 12, 2010.
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\15\ 17 CFR 200.30-3(a)(12).
[[Page 20873]]
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For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-9115 Filed 4-20-10; 8:45 am]
BILLING CODE 8011-01-P
