Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Fees and Rebates for Adding and Removing Liquidity, 21382-21384 [2010-9398]
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21382
Federal Register / Vol. 75, No. 78 / Friday, April 23, 2010 / Notices
modern methodology alternative for
counting fee-liable units. In addition,
the Exchange believes that the proposed
fee would allow entities that are most
likely to take advantage of the proposed
service to make an appropriate
contribution towards meeting the
overall costs of the Exchange’s
operations.
The Exchange notes that Nasdaq,
NYSE and NYSE Amex already impose
charges for services that are similar to
the NYSE Arca Trades service and
Nasdaq already imposes charges for
services that are similar to the NYSE
Arca BBO service. NYSE Arca
anticipates NYSE and NYSE Arca will
soon propose to establish fees for bestbid-and-offer services that are
substantially similar to the NYSE Arca
BBO service. Thus, the Exchange’s
proposed fees offer any vendor that
wishes to provide its customers with a
single market’s last sale information or
best-bid-and-offer information (as
opposed to a more expensive
consolidated last sale or quotation
information service) an alternative to
Nasdaq, NYSE and NYSE Amex.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The NYSE Arca BBO Service proposes
to provide an alternative to existing
services that the Participants make
available under the CQ Plan. The
proposed fees do not alter or rescind
any existing fees. In addition, it
amounts to a competitive response to
the products that Nasdaq, NYSE and
NYSE Amex make available or will soon
make available. For those reasons, the
Exchange does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has discussed the
proposed rules change with those
entities that the Exchange believes
would be the most likely to take
advantage of the proposed NYSE Arca
BBO Service by becoming NYSE ArcaOnly Vendors. While those entities have
not submitted formal, written comments
on the proposal, the Exchange has
incorporated some of their ideas into the
proposal and the proposed rule change
reflects their input. The Exchange has
not received any unsolicited written
comments from members or other
interested parties.
VerDate Nov<24>2008
15:23 Apr 22, 2010
Jkt 220001
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 Exchange consents,
the Commission will:
(A) By order approve the proposed
rule change, or
(B) Institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
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 Number SR–
NYSEArca–2010–23 and should be
submitted on or before May 14, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–9401 Filed 4–22–10; 8:45 am]
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–NYSEArca–2010–23 on the
subject line.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61933; File No. SR–Phlx–
2010–56]
Self-Regulatory Organizations;
NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Fees and Rebates for Adding and
Removing Liquidity
April 16, 2010.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
• Send paper comments in triplicate
notice is hereby given that on April 1,
to Elizabeth M. Murphy, Secretary,
2010, NASDAQ OMX PHLX, Inc.
Securities and Exchange Commission,
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the
Station Place, 100 F Street, NE.,
Securities and Exchange Commission
Washington, DC 20549–1090.
(‘‘SEC’’ or ‘‘Commission’’) the proposed
All submissions should refer to File
rule change as described in Items I, II,
Number SR–NYSEArca–2010–23. This
and III, below, which Items have been
file number should be included on the
prepared by the Exchange. The
subject line if e-mail is used. To help the
Commission is publishing this notice to
Commission process and review your
solicit comments on the proposed rule
comments more efficiently, please use
change from interested persons.
only one method. The Commission will
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 Exchange proposes to amend its
amendments, all written statements
fees and rebates for adding and
with respect to the proposed rule
removing liquidity by establishing that
change that are filed with the
professional orders will not be assessed
Commission, and all written
a charge for electronic auctions.
communications relating to the
The text of the proposed rule change
proposed rule change between the
is available on the Exchange’s Web site
Commission and any person, other than at https://nasdaqtrader.com/
those that may be withheld from the
micro.aspx?id=PHLXfilings, at the
public in accordance with the
principal office of the Exchange, at the
provisions of 5 U.S.C. 552, will be
Commission’s Public Reference Room,
available for Web site viewing and
and at the Commission’s Public
printing in the Commission’s Public
Reference Room, 100 F Street, NE.,
12 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
Washington, DC 20549, on official
2 17 CFR 240.19b–4.
business days between the hours of 10
Paper Comments
PO 00000
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23APN1
Federal Register / Vol. 75, No. 78 / Friday, April 23, 2010 / Notices
Reference Room, and on the
Commission’s Web site at https://
www.sec.gov.
Firms and broker-dealers are assessed
the appropriate charge for removing
liquidity.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
2. Statutory Basis
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
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
The purpose of the proposed rule
change is to amend the fees and rebates
for adding and removing liquidity to
clarify the applicability of these fees to
Professionals in an electronic auction.
The Exchange recently amended its
rules to give certain non-broker-dealer
orders the same priority as broker-dealer
orders.3 Also, the Exchange recently
filed a proposed rule change to amend
its Fee Schedule to adopt a new
category of fees, ‘‘professional.’’ 4
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) (hereinafter ‘‘Professional’’).5
The Exchange proposes to amend its
fees and rebates for adding and
removing liquidity, known as a ‘‘maker/
taker’’ model in order that Professionals
will not be assessed a charge for
electronic auctions which include,
without limitation, the Complex Order
Live Auction (‘‘COLA’’), and Quote and
Market Exhaust auctions. Currently,
electronic auctions are free to
Customers, Directed Participants,
Specialists, ROTs, SQTs and RSQTs.
3 See Securities Exchange Act Release No. 61802
(March 30, 2010) (SR–Phlx–2010–05).
4 See SR–Phlx–2010–51 and SR–Phlx–2010–55.
5 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.
VerDate Nov<24>2008
15:23 Apr 22, 2010
Jkt 220001
The Exchange believes that its
proposal to amend its schedule of fees
is consistent with Section 6(b) of the
Act 6 in general, and furthers the
objectives of Section 6(b)(4) of the Act 7
in particular, in that it is an equitable
allocation of reasonable fees and other
charges among Exchange members. The
Exchange believes that Professionals
should not be assessed the fees and
rebates for adding and removing
liquidity in electronic auctions as
Specialists, ROTs, SQTs and RSQTs are
not assessed such fees in electronic
auctions.
The impact of the proposal upon the
net fees paid by a particular market
participant will depend on a number of
variables, most important of which will
be its propensity to add or remove
liquidity in the underlying symbols. The
Exchange operates in a highly
competitive market in which market
participants can readily direct order
flow to another exchange if they deem
fee levels at a particular exchange to be
excessive. The Exchange believes that
the proposed fees it charges for options
overlying the various symbols remain
competitive with fees charged by other
exchanges and, therefore, continue to be
reasonable and equitably allocated to
those members that opt to direct orders
to the Exchange rather than to a
competing exchange.
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 8 and paragraph
(f)(2) of Rule 19b–4 9 thereunder. At any
time within 60 days of the filing of the
6 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
8 15 U.S.C. 78s(b)(3)(A)(ii).
9 17 CFR 240.19b–4(f)(2).
7 15
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21383
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
Number SR–Phlx–2010–56 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–Phlx–2010–56. 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 the filing also
will be available for inspection and
copying at the principal office of the
Exchange. All comments received will
be posted without change; the
Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
E:\FR\FM\23APN1.SGM
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21384
Federal Register / Vol. 75, No. 78 / Friday, April 23, 2010 / Notices
should refer to File Number SR–Phlx–
2010–56 and should be submitted on or
before May 14, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Elizabeth M. Murphy,
Secretary.
Dated: April 19, 2010.
Judith A. McHale,
Under Secretary for Public Diplomacy and
Public Affairs, Department of State.
DEPARTMENT OF STATE
[FR Doc. 2010–9469 Filed 4–22–10; 8:45 am]
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘The
Glory of Ukraine: Sacred Images From
the 11th to the 19th Centuries’’
BILLING CODE 4710–05–P
DEPARTMENT OF STATE
[FR Doc. 2010–9398 Filed 4–22–10; 8:45 am]
BILLING CODE 8011–01–P
[Public Notice 6976]
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘The
Holocaust’’
DEPARTMENT OF STATE
[Public Notice 6978]
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘Birth of
Impressionism: Masterpieces From the
Musee d’Orsay’’
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 ‘‘Birth of
Impressionism: Masterpieces from the
Musee d’Orsay,’’ imported from abroad
for temporary exhibition within the
United States, are of cultural
significance. The objects are imported
pursuant to a loan agreement with the
foreign owner or custodian. I also
determine that the exhibition or display
of the exhibit objects at the Fine Arts
Museums of San Francisco, San
Francisco, CA, from on or about May 22,
2010, until on or about September 6,
2010; Frist Center for the Visual Arts,
Nashville, TN, from on or about October
15, 2010, until January 23, 2011, and at
possible additional exhibitions or
venues yet to be determined, is in the
national interest. I have ordered that
Public Notice of these Determinations
be published in the Federal Register.
FOR FURTHER INFORMATION CONTACT: For
further information, including a list of
the exhibit objects, contact Julie
Simpson, Attorney-Adviser, Office of
the Legal Adviser, U.S. Department of
State (telephone: 202–632–6467). The
mailing address is U.S. Department of
State, SA–5, L/PD, Fifth Floor (Suite
5H03), Washington, DC 20522–0505.
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
Holocaust,’’ 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 in the permanent exhibit of the
U.S. Holocaust Memorial Museum,
Washington, DC, from on or about
August 2010 until on or about April
2015, 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, 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
is U.S. Department of State, SA–5, L/PD,
Fifth Floor, Washington, DC 20522–
0505.
FOR FURTHER INFORMATION CONTACT:
Dated: April 15, 2010.
Maura M. Pally,
Deputy Assistant Secretary for Professional
and Cultural Exchanges, Bureau of
Educational and Cultural Affairs, Department
of State.
[FR Doc. 2010–9472 Filed 4–22–10; 8:45 am]
10 17
CFR 200.30–3(a)(12).
VerDate Nov<24>2008
15:23 Apr 22, 2010
[Public Notice 6975]
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: Sacred Images from the 11th to
the 19th Centuries,’’ 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
Biblical Art, New York, NY, from on or
about June 17, 2010, until on or about
September 12, 2010; at the Meridian
International Center, Washington, DC,
from on or about October 5, 2010, until
on or about December 3, 2010; at the
Joslyn Museum of Art, Omaha, NE, from
on or about January 2011 until on or
about May 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
is U.S. Department of State, SA–5, L/PD,
Fifth Floor, Washington, DC 20522–
0505.
Dated: April 15, 2010.
Maura M. Pally,
Deputy Assistant Secretary for Professional
and Cultural Exchanges, Bureau of
Educational and Cultural Affairs, Department
of State.
[FR Doc. 2010–9475 Filed 4–22–10; 8:45 am]
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BILLING CODE 4710–05–P
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]]>Agencies
[Federal Register Volume 75, Number 78 (Friday, April 23, 2010)]
[Notices]
[Pages 21382-21384]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-9398]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61933; File No. SR-Phlx-2010-56]
Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Fees and Rebates for Adding and Removing Liquidity
April 16, 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, 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 amend its fees and rebates for adding and
removing liquidity by establishing that professional orders will not be
assessed a charge for electronic auctions.
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 at the Commission's Public
[[Page 21383]]
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 amend the fees and
rebates for adding and removing liquidity to clarify the applicability
of these fees to Professionals in an electronic auction.
The Exchange recently amended its rules to give certain non-broker-
dealer orders the same priority as broker-dealer orders.\3\ Also, the
Exchange recently filed a proposed rule change to amend its Fee
Schedule to adopt a new category of fees, ``professional.'' \4\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 61802 (March 30,
2010) (SR-Phlx-2010-05).
\4\ See SR-Phlx-2010-51 and SR-Phlx-2010-55.
---------------------------------------------------------------------------
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) (hereinafter
``Professional'').\5\
---------------------------------------------------------------------------
\5\ 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 amend its fees and rebates for adding and
removing liquidity, known as a ``maker/taker'' model in order that
Professionals will not be assessed a charge for electronic auctions
which include, without limitation, the Complex Order Live Auction
(``COLA''), and Quote and Market Exhaust auctions. Currently,
electronic auctions are free to Customers, Directed Participants,
Specialists, ROTs, SQTs and RSQTs. Firms and broker-dealers are
assessed the appropriate charge for removing liquidity.
2. Statutory Basis
The Exchange believes that its proposal to amend its schedule of
fees is consistent with Section 6(b) of the Act \6\ in general, and
furthers the objectives of Section 6(b)(4) of the Act \7\ in
particular, in that it is an equitable allocation of reasonable fees
and other charges among Exchange members. The Exchange believes that
Professionals should not be assessed the fees and rebates for adding
and removing liquidity in electronic auctions as Specialists, ROTs,
SQTs and RSQTs are not assessed such fees in electronic auctions.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
The impact of the proposal upon the net fees paid by a particular
market participant will depend on a number of variables, most important
of which will be its propensity to add or remove liquidity in the
underlying symbols. The Exchange operates in a highly competitive
market in which market participants can readily direct order flow to
another exchange if they deem fee levels at a particular exchange to be
excessive. The Exchange believes that the proposed fees it charges for
options overlying the various symbols remain competitive with fees
charged by other exchanges and, therefore, continue to be reasonable
and equitably allocated to those members that opt to direct orders to
the Exchange rather than to a competing exchange.
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 \8\ and paragraph (f)(2) of Rule 19b-4 \9\
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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(ii).
\9\ 17 CFR 240.19b-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-Phlx-2010-56 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-Phlx-2010-56. 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 the filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions
[[Page 21384]]
should refer to File Number SR-Phlx-2010-56 and should be submitted on
or before May 14, 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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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-9398 Filed 4-22-10; 8:45 am]
BILLING CODE 8011-01-P
