Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of Filing of Proposed Rule Change To Amend EDGX Fee Schedule To Impose Fees for Physical Ports Used To Connect to EDGX Exchange, 39599-39600 [2010-16747]
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Federal Register / Vol. 75, No. 131 / Friday, July 9, 2010 / Notices
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–ISE–2010–64 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–2010–64. 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
should refer to File Number SR–ISE–
VerDate Mar<15>2010
15:17 Jul 08, 2010
Jkt 220001
2010–64 and should be submitted on or
before July 30, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–16748 Filed 7–8–10; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62437; File No. SR–EDGX–
2010–06]
Self-Regulatory Organizations; EDGX
Exchange, Inc.; Notice of Filing of
Proposed Rule Change To Amend
EDGX Fee Schedule To Impose Fees
for Physical Ports Used To Connect to
EDGX Exchange
July 1, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (‘‘Act’’
or ‘‘Exchange Act’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on July 1, 2010, EDGX Exchange, Inc.
(‘‘EDGX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
fee schedule applicable to Members 3
and non-members of the Exchange
pursuant to EDGX Rule 15.1(a) and (c).
Pursuant to the proposed rule change,
the Exchange will commence charging
fees for Members and non-members for
certain physical ports used to connect to
the Exchange’s systems. The Exchange
intends to implement this rule proposal
effective upon Securities and Exchange
Commission (‘‘Commission’’) approval.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://www.directedge.com, on the
Commission’s Web site at https://
www.sec.gov, at the principal office of
the Exchange, and at the Commission’s
Public Reference Room.
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 A Member is any registered broker or dealer that
has been admitted to membership in the Exchange.
PO 00000
16 17
1 15
Frm 00107
Fmt 4703
Sfmt 4703
39599
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
The purpose of the proposed rule
change is to begin charging an annual
fee to Members and non-members for
physical ports used to connect to the
Exchange’s systems for purposes
including order entry and the receipt of
Exchange data. A physical port is a port
used by a Member or non-member 4 to
connect into the Exchange at the data
centers where Exchange servers are
located. Physical port connections can
occur either through an external
telecommunication circuit or a crossconnection. Currently, Members and
non-members have a number of
alternative methods available to them
for connecting to the Exchange without
the need to obtain an independent
physical connection, including the use
of financial extranets or service bureaus.
However, some Members and nonmembers may wish to connect directly
with their own dedicated circuit
connection. In order to support their
requirements and the associated
infrastructure costs related to direct
circuit connectivity, EDGX proposes to
charge Members and non-members the
following annual fees based on the
connectivity service type:
Connection
service type
1 Gb Copper ...................
1 Gb Fiber ......................
10 Gb Fiber ....................
Annual fee per
physical port
$5,000
7,500
10,000
Only one physical port is required to
access all services for EDGX. However,
Members and non-members may choose
more than one physical port and
4 Non-members can include non-member service
bureaus that act as a conduit for orders entered by
Exchange Members that are their customers as well
as sponsored participants and market data
recipients.
E:\FR\FM\09JYN1.SGM
09JYN1
39600
Federal Register / Vol. 75, No. 131 / Friday, July 9, 2010 / Notices
different connection service types based
on their needs. The Exchange notes that
other market centers provide similar
services to their Members and nonmembers.5
The Exchange believes that the
service will offer market participants
additional EDGX connectivity choices,
providing for greater access into the
market while allowing the market
participant to choose the method of
connectivity based on their specific
needs.
The Exchange will implement the
proposed rule change following
Commission approval.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the objectives of Section 6 of the Act,6
in general, and furthers the objectives of
Section 6(b)(4),7 in particular, as it is
designed to provide for the equitable
allocation of reasonable dues, fees and
other charges among its members and
other persons using its facilities.
Members and other persons using the
Exchange facilities also have the ability
to obtain access to these services
without the need for an independent
physical port connection, such as
through alternative means of financial
extranets and service bureaus, as
described above. In addition, Members
and non-members also have the ability
to choose lower cost connection service
types and still obtain access to all EDGX
services. Furthermore, the fees
associated with physical ports will be
equitably allocated to all constituents as
the fees will be uniform in application
to all Members and non-members.
Finally, the Exchange believes that the
fees obtained will enable it to cover its
infrastructure costs associated with
allowing Members and non-members to
establish physical ports to connect to
the Exchange’s systems and continue to
maintain and improve its infrastructure,
market technology, and services.
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
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.
5 See Securities Exchange Act Release Nos. 61545
(February 19, 2010), 75 FR 8769 (February 25, 2010)
(order approving file no. SR–BATS–2009–032); and
62392 (June 28, 2010) (notice of filing file no. SR–
Nasdaq–2010–077).
6 15 U.S.C. 78f.
7 15 U.S.C. 78f(b)(4).
VerDate Mar<15>2010
15:17 Jul 08, 2010
Jkt 220001
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
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 the 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/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
No. SR–EDGX–2010–06 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–EDGX–2010–06. 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
PO 00000
Frm 00108
Fmt 4703
Sfmt 4703
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 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–EDGX–
2010–06 and should be submitted on or
before July 30, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–16747 Filed 7–8–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62436; File No. SR–EDGA–
2010–06]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Filing of
Proposed Rule Change To Amend
EDGA Fee Schedule To Impose Fees
for Physical Ports Used To Connect to
EDGA Exchange
July 1, 2010.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934 (‘‘Act’’
or ‘‘Exchange Act’’) 1 and rule 19b–4
thereunder,2 notice is hereby given that
on July 1, 2010, EDGA Exchange, Inc.
(‘‘EDGA’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\09JYN1.SGM
09JYN1
]]>Agencies
[Federal Register Volume 75, Number 131 (Friday, July 9, 2010)]
[Notices]
[Pages 39599-39600]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16747]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62437; File No. SR-EDGX-2010-06]
Self-Regulatory Organizations; EDGX Exchange, Inc.; Notice of
Filing of Proposed Rule Change To Amend EDGX Fee Schedule To Impose
Fees for Physical Ports Used To Connect to EDGX Exchange
July 1, 2010.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on July 1, 2010, EDGX Exchange, Inc. (``EDGX'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Exchange. The
Commission is publishing this notice to solicit comments on the
proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend its fee schedule applicable to
Members \3\ and non-members of the Exchange pursuant to EDGX Rule
15.1(a) and (c). Pursuant to the proposed rule change, the Exchange
will commence charging fees for Members and non-members for certain
physical ports used to connect to the Exchange's systems. The Exchange
intends to implement this rule proposal effective upon Securities and
Exchange Commission (``Commission'') approval.
---------------------------------------------------------------------------
\3\ A Member is any registered broker or dealer that has been
admitted to membership in the Exchange.
---------------------------------------------------------------------------
The text of the proposed rule change is available on the Exchange's
Web site at https://www.directedge.com, on the Commission's Web site at
https://www.sec.gov, 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 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
The purpose of the proposed rule change is to begin charging an
annual fee to Members and non-members for physical ports used to
connect to the Exchange's systems for purposes including order entry
and the receipt of Exchange data. A physical port is a port used by a
Member or non-member \4\ to connect into the Exchange at the data
centers where Exchange servers are located. Physical port connections
can occur either through an external telecommunication circuit or a
cross-connection. Currently, Members and non-members have a number of
alternative methods available to them for connecting to the Exchange
without the need to obtain an independent physical connection,
including the use of financial extranets or service bureaus. However,
some Members and non-members may wish to connect directly with their
own dedicated circuit connection. In order to support their
requirements and the associated infrastructure costs related to direct
circuit connectivity, EDGX proposes to charge Members and non-members
the following annual fees based on the connectivity service type:
---------------------------------------------------------------------------
\4\ Non-members can include non-member service bureaus that act
as a conduit for orders entered by Exchange Members that are their
customers as well as sponsored participants and market data
recipients.
------------------------------------------------------------------------
Annual fee per
Connection service type physical port
------------------------------------------------------------------------
1 Gb Copper.......................................... $5,000
1 Gb Fiber........................................... 7,500
10 Gb Fiber.......................................... 10,000
------------------------------------------------------------------------
Only one physical port is required to access all services for EDGX.
However, Members and non-members may choose more than one physical port
and
[[Page 39600]]
different connection service types based on their needs. The Exchange
notes that other market centers provide similar services to their
Members and non-members.\5\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release Nos. 61545 (February 19,
2010), 75 FR 8769 (February 25, 2010) (order approving file no. SR-
BATS-2009-032); and 62392 (June 28, 2010) (notice of filing file no.
SR-Nasdaq-2010-077).
---------------------------------------------------------------------------
The Exchange believes that the service will offer market
participants additional EDGX connectivity choices, providing for
greater access into the market while allowing the market participant to
choose the method of connectivity based on their specific needs.
The Exchange will implement the proposed rule change following
Commission approval.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\6\ in general, and
furthers the objectives of Section 6(b)(4),\7\ in particular, as it is
designed to provide for the equitable allocation of reasonable dues,
fees and other charges among its members and other persons using its
facilities. Members and other persons using the Exchange facilities
also have the ability to obtain access to these services without the
need for an independent physical port connection, such as through
alternative means of financial extranets and service bureaus, as
described above. In addition, Members and non-members also have the
ability to choose lower cost connection service types and still obtain
access to all EDGX services. Furthermore, the fees associated with
physical ports will be equitably allocated to all constituents as the
fees will be uniform in application to all Members and non-members.
Finally, the Exchange believes that the fees obtained will enable it to
cover its infrastructure costs associated with allowing Members and
non-members to establish physical ports to connect to the Exchange's
systems and continue to maintain and improve its infrastructure, market
technology, and services.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f.
\7\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
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
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 the 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/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File No. SR-EDGX-2010-06 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-EDGX-2010-06. 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 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-EDGX-2010-06 and should be
submitted on or before July 30, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
---------------------------------------------------------------------------
\8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-16747 Filed 7-8-10; 8:45 am]
BILLING CODE 8011-01-P
