Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Rule Change by NYSE Arca, Inc. Amending Its Fee Schedule, 39714-39715 [2010-16852]

Download as PDF 39714 Federal Register / Vol. 75, No. 132 / Monday, July 12, 2010 / Notices 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– NYSEArca–2010–66 and should be submitted on or before August 2, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18 Elizabeth M. Murphy, Secretary. [FR Doc. 2010–16850 Filed 7–9–10; 8:45 am] SECURITIES AND EXCHANGE COMMISSION Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Rule Change by NYSE Arca, Inc. Amending Its Fee Schedule July 1, 2010. erowe on DSK5CLS3C1PROD with NOTICES Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on June 24, 2010, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (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. I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change The Exchange proposes to amend its Schedule of Fees and Charges for Exchange Services (the ‘‘Schedule’’). While changes to the Schedule pursuant to this proposal will be effective upon filing, the changes will become operative on July 1, 2010. The amended section of the Schedule is included as Exhibit 5 hereto. A copy of this filing is available on the Exchange’s Web site at CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78a. 3 17 CFR 240.19b–4. VerDate Mar<15>2010 14:19 Jul 09, 2010 Jkt 220001 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. 1. Purpose [Release No. 34–62433; File No. SR– NYSEArca–2010–62] 1 15 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change BILLING CODE 8010–01–P 18 17 https://www.nyse.com, at the Exchange’s principal office and at the Commission’s Public Reference Room. Effective July 1, 2010, NYSE Arca proposes to set volume requirements for both Tier 1 and Tier 2 based on average U.S. consolidated daily volumes. Volume requirements to reach the tiered pricing levels will adjust each calendar month based on U.S. average daily consolidated share volume in Tape A, Tape B, Tape C securities (‘‘U.S. ADV’’) for that given month. U.S. ADV is equal to the volume reported by all exchanges and trade reporting facilities to the Consolidated Tape Association (‘‘CTA’’) Plan for Tapes A, B and C [sic] securities. Tier 1: Currently, Tier 1 pricing is applied to customers with an average daily volume in shares per month of greater than 55 million shares that add liquidity in Tape A, Tape B, and Tape C securities combined. Starting July 1, the monthly requirement will be based on U.S. ADV for that given month as follows: —When U.S. ADV is 8 billion shares or less, the requirement for adding liquidity will be 50 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 8 billion up to 10 billion shares, the requirement for adding liquidity will [sic] 55 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 10 billion up to 11 billion shares, the requirement for adding liquidity will [sic] 65 million shares average daily volume in Tape A, Tape B, and Tape C combined. PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 —When U.S. ADV is greater than 11 billion up to 12 billion shares, the requirement for adding liquidity will [sic] 75 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 12 billion up to 13 billion shares, the requirement for adding liquidity will [sic] 85 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 13 billion shares, the requirement for adding liquidity will [sic] 95 million shares average daily volume in Tape A, Tape B, and Tape C combined. Tier 2: Currently, Tier 2 pricing is applied to customers with an average daily volume in shares per month of greater than 25 million shares that add liquidity in Tape A, Tape B, and Tape C securities combined. Starting July 1, the monthly requirement will be based on U.S. ADV for that given month as follows: —When U.S. ADV is 8 billion shares or less, the requirement for adding liquidity will be 20 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 8 billion up to 10 billion shares, the requirement for adding liquidity will [sic] 25 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 10 billion up to 11 billion shares, the requirement for adding liquidity will [sic] 30 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 11 billion up to 12 billion shares, the requirement for adding liquidity will [sic] 35 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 12 billion up to 13 billion shares, the requirement for adding liquidity will [sic] 40 million shares average daily volume in Tape A, Tape B, and Tape C combined. —When U.S. ADV is greater than 13 billion shares, the requirement for adding liquidity will [sic] 45 million shares average daily volume in Tape A, Tape B, and Tape C combined. Transactions that are not reported to the Consolidated Tape, such as odd-lots and Crossing Session 2 transactions, are not included in U.S. ADV. The Exchange will make this data publically [sic] available on a T + 1 basis from a link at https://www.nyxdata.com. The Exchange believes the proposed changes to the tiers are equitable in that E:\FR\FM\12JYN1.SGM 12JYN1 Federal Register / Vol. 75, No. 132 / Monday, July 12, 2010 / Notices Electronic Comments they apply uniformly to all ETP Holders. The proposed changes will become operative on July 1, 2010. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Securities Exchange Act of 1934 (the ‘‘Act’’),4 in general, and Section 6(b)(4) of the Act,5 in particular, in that 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. The proposed changes to the Schedule are reasonable and equitable in that they apply uniformly to all ETP Holders. 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 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 No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) 6 of the Act and subparagraph (f)(2) of Rule 19b–4 7 thereunder, because it establishes a due, fee, or other charge imposed by NYSE Arca on its members. 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. erowe on DSK5CLS3C1PROD with NOTICES IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: • 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–NYSEArca–2010–62 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–NYSEArca–2010–62. 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 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 offices 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–2010–62, and should be submitted on or before August 2, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Elizabeth M. Murphy, Secretary. [FR Doc. 2010–16852 Filed 7–9–10; 8:45 am] 39715 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62454; File No. SR–FINRA– 2010–030] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of Proposed Rule Change To Adopt FINRA Rule 11000 Series (Uniform Practice Code) in the Consolidated FINRA Rulebook July 6, 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 June 14, 2010, Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) (f/k/a National Association of Securities Dealers, Inc. [‘‘NASD’’]) 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 primarily by FINRA. 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 the Substance of the Proposed Rule Change FINRA is proposing to adopt the NASD Rule 11000 Series (Uniform Practice Code [‘‘UPC’’]) as FINRA rules in the consolidated FINRA rulebook, subject to certain amendments, and to delete NASD Rule 3370 (Purchases) and the following corresponding provisions in the Incorporated NYSE Rules and Interpretations: 176 (Delivery Time), 180 (Failure to Deliver), 282 (Buy-in Procedures) and its Supplementary Material paragraphs .10–.80, 291 (Failure to Fulfill Closing Contract), 292 (Restrictions on Members’ Participation in Transaction to Close Defaulted Contracts), 293 (Closing Contracts in Suspended Securities), 294 (Default in Loan of Money), 387 (COD Orders) and its Supplementary Material paragraphs .10–.60, Rule 387 Interpretations/01–/ 18, 430 (Partial Delivery of Securities to Customers on C.O.D. Purchases), and Rule 430 Interpretation/01.3 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FINRA included statements concerning BILLING CODE 8010–01–P 4 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). 6 15 U.S.C. 78s(b)(3)(A). 7 17 CFR 240.19b–4(f)(2). 1 15 5 15 VerDate Mar<15>2010 14:19 Jul 09, 2010 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 The text of the proposed rule change is available on FINRA’s Web site at https://www.finra.org. 2 17 8 17 Jkt 220001 PO 00000 CFR 200.30–3(a)(12). Frm 00064 Fmt 4703 Sfmt 4703 E:\FR\FM\12JYN1.SGM 12JYN1

Agencies

[Federal Register Volume 75, Number 132 (Monday, July 12, 2010)]
[Notices]
[Pages 39714-39715]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16852]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62433; File No. SR-NYSEArca-2010-62]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Rule Change by NYSE Arca, Inc. Amending Its Fee 
Schedule

July 1, 2010.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on June 24, 2010, NYSE Arca, Inc. (``NYSE Arca'' or the 
``Exchange'') filed with the Securities and Exchange Commission (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\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of the 
Substance of the Proposed Rule Change

    The Exchange proposes to amend its Schedule of Fees and Charges for 
Exchange Services (the ``Schedule''). While changes to the Schedule 
pursuant to this proposal will be effective upon filing, the changes 
will become operative on July 1, 2010. The amended section of the 
Schedule is included as Exhibit 5 hereto. A copy of this filing is 
available on the Exchange's Web site at https://www.nyse.com, at the 
Exchange's principal office 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
    Effective July 1, 2010, NYSE Arca proposes to set volume 
requirements for both Tier 1 and Tier 2 based on average U.S. 
consolidated daily volumes. Volume requirements to reach the tiered 
pricing levels will adjust each calendar month based on U.S. average 
daily consolidated share volume in Tape A, Tape B, Tape C securities 
(``U.S. ADV'') for that given month. U.S. ADV is equal to the volume 
reported by all exchanges and trade reporting facilities to the 
Consolidated Tape Association (``CTA'') Plan for Tapes A, B and C [sic] 
securities.
    Tier 1: Currently, Tier 1 pricing is applied to customers with an 
average daily volume in shares per month of greater than 55 million 
shares that add liquidity in Tape A, Tape B, and Tape C securities 
combined. Starting July 1, the monthly requirement will be based on 
U.S. ADV for that given month as follows:

--When U.S. ADV is 8 billion shares or less, the requirement for adding 
liquidity will be 50 million shares average daily volume in Tape A, 
Tape B, and Tape C combined.
--When U.S. ADV is greater than 8 billion up to 10 billion shares, the 
requirement for adding liquidity will [sic] 55 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 10 billion up to 11 billion shares, the 
requirement for adding liquidity will [sic] 65 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 11 billion up to 12 billion shares, the 
requirement for adding liquidity will [sic] 75 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 12 billion up to 13 billion shares, the 
requirement for adding liquidity will [sic] 85 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 13 billion shares, the requirement for 
adding liquidity will [sic] 95 million shares average daily volume in 
Tape A, Tape B, and Tape C combined.

    Tier 2: Currently, Tier 2 pricing is applied to customers with an 
average daily volume in shares per month of greater than 25 million 
shares that add liquidity in Tape A, Tape B, and Tape C securities 
combined. Starting July 1, the monthly requirement will be based on 
U.S. ADV for that given month as follows:

--When U.S. ADV is 8 billion shares or less, the requirement for adding 
liquidity will be 20 million shares average daily volume in Tape A, 
Tape B, and Tape C combined.
--When U.S. ADV is greater than 8 billion up to 10 billion shares, the 
requirement for adding liquidity will [sic] 25 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 10 billion up to 11 billion shares, the 
requirement for adding liquidity will [sic] 30 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 11 billion up to 12 billion shares, the 
requirement for adding liquidity will [sic] 35 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 12 billion up to 13 billion shares, the 
requirement for adding liquidity will [sic] 40 million shares average 
daily volume in Tape A, Tape B, and Tape C combined.
--When U.S. ADV is greater than 13 billion shares, the requirement for 
adding liquidity will [sic] 45 million shares average daily volume in 
Tape A, Tape B, and Tape C combined.

    Transactions that are not reported to the Consolidated Tape, such 
as odd-lots and Crossing Session 2 transactions, are not included in 
U.S. ADV. The Exchange will make this data publically [sic] available 
on a T + 1 basis from a link at https://www.nyxdata.com.
    The Exchange believes the proposed changes to the tiers are 
equitable in that

[[Page 39715]]

they apply uniformly to all ETP Holders. The proposed changes will 
become operative on July 1, 2010.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 of the Securities Exchange Act of 1934 
(the ``Act''),\4\ in general, and Section 6(b)(4) of the Act,\5\ in 
particular, in that 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. The proposed changes to 
the Schedule are reasonable and equitable in that they apply uniformly 
to all ETP Holders.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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 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

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) \6\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \7\ thereunder, because it establishes a due, fee, or other charge 
imposed by NYSE Arca on its members.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    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.

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-NYSEArca-2010-62 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-NYSEArca-2010-62. 
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 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 offices 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-2010-62, and should be submitted on or before 
August 2, 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. 2010-16852 Filed 7-9-10; 8:45 am]
BILLING CODE 8010-01-P
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