Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Approving a Proposed Rule Change to Establish a Revenue Sharing Program With Correlix, Inc., 47651-47652 [2010-19330]

Download as PDF Federal Register / Vol. 75, No. 151 / Friday, August 6, 2010 / Notices Percent For Physical Damage: Homeowners With Credit Available Elsewhere .......... Homeowners Without Credit Available Elsewhere .......... Businesses With Credit Available Elsewhere .................. Businesses Without Credit Available Elsewhere .......... Non-Profit Organizations With Credit Available Elsewhere Non-Profit Organizations Without Credit Available Elsewhere .......................... For Economic Injury: Businesses & Small Agricultural Cooperatives Without Credit Available Elsewhere Non-Profit Organizations Without Credit Available Elsewhere .......................... 5.500 2.750 6.000 4.000 3.625 3.000 4.000 3.000 The number assigned to this disaster for physical damage is 12260 B and for economic injury is 12261 0. The States which received an EIDL Declaration # are Oklahoma. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Dated: August 3, 2010. Karen G. Mills, Administrator. [FR Doc. 2010–19418 Filed 8–5–10; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION Annual Meeting of the Regional Small Business Regulatory Fairness Boards Office of the National Ombudsman U.S. Small Business Administration (SBA). ACTION: Notice of open meeting of the Regional Small Business Regulatory Fairness Boards. AGENCY: The SBA, Office of the National Ombudsman is issuing this notice to announce the location, date, time and agenda for the annual board meeting of the ten Regional Small Business Regulatory Fairness Boards (Regional Regulatory Fairness Boards). The meeting is open to the public. DATES: The meeting will be held on the following dates: Monday, August 30, 2010 from 8:30 a.m. to 5 p.m. EST and on Tuesday, August 31, 2010 from 9 a.m. to 1 p.m. EST. ADDRESSES: The meeting will be at the SBA Headquarters, 409 3rd Street, SW., Washington, DC 20416, in the Eisenhower Conference Room located on the 2nd Floor. SUPPLEMENTARY INFORMATION: Pursuant to the Small Business Regulatory sroberts on DSKD5P82C1PROD with NOTICES SUMMARY: VerDate Mar<15>2010 16:35 Aug 05, 2010 Jkt 220001 Enforcement Fairness Act (Pub. L. 104– 121), Sec. 222, SBA announces the meeting of the Regional Regulatory Fairness Boards. The Regional Regulatory Fairness Boards are tasked to advise the National Ombudsman on matters of concern to small businesses relating to enforcement activities of agencies and to report on substantiated instances of excessive enforcement against small business concerns, including any findings or recommendations of the Board as to agency enforcement practice or policy. The purpose of the meeting is to discuss the following topics related to the Regional Regulatory Fairness Boards: —RegFair Board Member Duties, Responsibilities, and Standards of Conducting Briefing —Regulatory Process for Federal Agencies —Planning and Logistics of Hearings/ Roundtables —Media Relations and ONO Highlights —Securing Comments and the Comment Process —ONO Annual Report to Congress —Federal Agency Partnerships Panel —Small Business and Trade Policy Briefing —The ONO from the Beginning to Present (1996–2010) —Board Member Travel Reimbursement FOR FURTHER INFORMATION CONTACT: The meeting is open to the public; however advance notice of attendance is requested. Anyone wishing to attend and/or make a presentation to the Regulatory Fairness Boards must contact Yolanda Swift by August 23, 2010 by fax or e-mail in order to be placed on the agenda. Yolanda.swift@sba.gov, Deputy National Ombudsman for Regulatory Enforcement Fairness, Office of the National Ombudsman, 409 3rd Street, SW., Suite 7125, Washington, DC 20416, phone (202) 205–6918, fax (202) 401–6128. Additionally, if you need accommodations because of a disability or require additional information, please ´ ´ contact Jose Mendez, Case Management Specialist, Office of the National Ombudsman, 409 3rd Street, SW., Suite 7125, Washington, DC 20416, phone (202) 205–6178, fax (202) 401–2707, email jose.mendez@sba.gov. For more information on the Office of the National Ombudsman, please visit our Web site at https://www.sba.gov/ ombudsman. Dated: August 2, 2010. Dan Jones, SBA Committee Management Officer. SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Joint CFTC–SEC Advisory Committee on Emerging Regulatory Issues (see also Pub. L. 111–117, Section 621) will hold an Open Meeting on Wednesday, August 11, 2010, in the first floor hearing room of the CFTC’s Washington, DC headquarters, which is located at Three Lafayette Centre, 1155 21st St., NW. The meeting will begin at 9 a.m. and will be open to the public, with seating on a first-come, first-served basis. Doors will be open at 8 a.m. Visitors will be subject to security checks. This Sunshine Act notice is being issued because a majority of the Commission may attend the meeting. The agenda for the meeting will include: (i) Committee organizational matters; and (ii) hearing two industry panels presenting views and information regarding the market events of May 6, 2010. For further information, please contact the Office of the Secretary at (202) 551–5400. Dated: August 3, 2010. Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–19526 Filed 8–4–10; 11:15 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62605; File No. SR– NASDAQ–2010–068] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Approving a Proposed Rule Change to Establish a Revenue Sharing Program With Correlix, Inc. July 30, 2010. On June 8, 2010, The NASDAQ Stock Market LLC (‘‘NASDAQ’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 a proposed rule change to establish a revenue sharing program with Correlix, Inc. (‘‘Correlix’’). The proposed rule change was published for comment in the Federal Register on [FR Doc. 2010–19347 Filed 8–5–10; 8:45 am] 1 15 BILLING CODE P 2 17 PO 00000 Frm 00129 Fmt 4703 Sfmt 4703 47651 E:\FR\FM\06AUN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 06AUN1 sroberts on DSKD5P82C1PROD with NOTICES 47652 Federal Register / Vol. 75, No. 151 / Friday, August 6, 2010 / Notices June 25, 2010.3 The Commission received no comment letters on the proposal. This order approves the proposed rule change. In its proposal, NASDAQ described real-time analytical tools offered by Correlix to measure the latency of orders to and from the NASDAQ Market Center, and also described the terms of the pricing and the revenue sharing agreement between Correlix and the Exchange. In addition, NASDAQ represented that under the agreement, NASDAQ will receive 30% of the total monthly subscription fees received by Correlix from parties who have contracted directly with Correlix to use their RaceTeam latency measurement service for the NASDAQ Market Center. According to the Exchange, NASDAQ will not bill or contract with any Correlix RaceTeam customer directly. Pricing for the Correlix RaceTeam product for the NASDAQ market varies depending on the number of unique MPIDs and ports selected by the customer for monitoring by Correlix. For NASDAQ (including the NASDAQ Options Market), the fee will be an initial $3,000 monthly base fee for the first unique MPID monitored. For each additional unique MPID sought to be monitored, an additional monthly charge of $1,000 will be assessed. The monthly price for each unique MPID includes the monitoring of up to 25 NASDAQ port connections associated with that particular MPID. Customers that wish to exceed 25 ports per MPID for monitoring can purchase additional 25 port blocks for an additional fee of $1,000 per month per MPID. According to the Exchange, Correlix will see an individualized unique NASDAQ-generated identifier that will allow Correlix RaceTeam to determine round-trip order time,4 from the time the order reaches the NASDAQ extranet, through the NASDAQ matching engine, and back out of the NASDAQ extranet. In its proposal, the Exchange represented that the RaceTeam product offering does not measure latency outside of the NASDAQ extranet. Further, NASDAQ stated that the unique identifier serves as a technological information barrier so that the RaceTeam data collector will only be able to view data for Correlix RaceTeam subscriber firms related to latency. Accordingly, Correlix will not see subscriber’s individual order detail such as security, price or size; 3 See Securities Exchange Act Release No. 62326 (June 18, 2010), 75 FR 36460 (‘‘Notice’’). 4 According to NASDAQ, the product measures latency of orders regardless of whether the orders are rejected, executed, or partially executed. VerDate Mar<15>2010 16:35 Aug 05, 2010 Jkt 220001 individual RaceTeam subscribers’ logins will restrict access to only their own latency data; and Correlix will not see specific information regarding the trading activity of non-subscribers. After careful review, the Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.5 In particular, the Commission finds that the proposed rule change is consistent with Section 6(b)(4) of the Act,6 which requires that the rules of a national securities exchange provide for the equitable allocation of reasonable dues, fees and other charges among its members and issuers and other persons using its facilities, and with Section 6(b)(5) of the Act,7 which requires, among other things, that that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest, and not be designed to permit unfair discrimination between customers, issuers, brokers, or dealers. Pursuant to the arrangement, NASDAQ makes the RaceTeam product uniformly available to all customers who voluntarily request it and pay the fees as detailed in the proposal, pursuant to a standard nondiscriminatory pricing schedule. In addition, the Commission believes that the proposal will further the protection of investors and the public interest because: (1) Correlix will only be able to view data related to latency for Correlix RaceTeam subscriber firms; (2) Correlix will not see a subscriber’s individual order detail such as security, price or size; (3) individual RaceTeam subscribers’ logins will restrict access to only their own latency data; and (4) Correlix will not see specific information regarding the trading activity of non-subscribers. It is therefore ordered, pursuant to Section 19(b)(2) of the Act,8 that the proposed rule change (SR–NASDAQ– 2010–068) be, and hereby is, approved. 5 In approving this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b)(4). 7 15 U.S.C. 78f(b)(5). 8 15 U.S.C. 78s(b)(2). PO 00000 Frm 00130 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–19330 Filed 8–5–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–62623; File No. SR– NYSEArca–2010–51] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Approval of a Proposed Rule Change Relating to Listing and Trading of WisdomTree Dreyfus Commodity Currency Fund under NYSE Arca Equities Rule 8.600 August 2, 2010. I. Introduction On June 10, 2010, NYSE Arca, Inc. (‘‘Exchange’’ or ‘‘NYSE Arca’’), filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to list and trade the shares (‘‘Shares’’) of the WisdomTree Dreyfus Commodity Currency Fund (‘‘Fund’’) under NYSE Arca Equities Rule 8.600. The proposed rule change was published for comment in the Federal Register on June 29, 2010.3 The Commission received no comment letters on the proposal. This order approves the proposed rule change. II. Description of the Proposal The Exchange proposes to list and trade the Shares pursuant to NYSE Arca Equities Rule 8.600 which governs the listing and trading of ‘‘Managed Fund Shares’’ on the Exchange.4 The Fund will be an actively managed exchange traded fund. The Shares will 9 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 Securities Exchange Act Release No. 62349 (June 22, 2010), 75 FR 37510 (‘‘Notice’’). 4 Managed Fund Shares are defined as securities that (a) represent an interest in a registered investment company organized as an open-end management investment company or similar entity that invests in a portfolio of securities selected by the investment company’s investment adviser consistent with the investment company’s investment objectives and policies; (b) are issued in a specified aggregate minimum number in return for a deposit of a specified portfolio of securities and/ or a cash amount with a value equal to the next determined net asset value; and (c) when aggregated in the same specified minimum number, may be redeemed at a holder’s request, which holder will be paid a specified portfolio of securities and/or cash with a value equal to the next determined net asset value. See NYSE Arca Equities Rule 8.600(c)(1). 1 15 E:\FR\FM\06AUN1.SGM 06AUN1

Agencies

[Federal Register Volume 75, Number 151 (Friday, August 6, 2010)]
[Notices]
[Pages 47651-47652]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-19330]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62605; File No. SR-NASDAQ-2010-068]


 Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Order Approving a Proposed Rule Change to Establish a Revenue Sharing 
Program With Correlix, Inc.

July 30, 2010.
    On June 8, 2010, The NASDAQ Stock Market LLC (``NASDAQ'' or the 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to establish a revenue sharing program with 
Correlix, Inc. (``Correlix''). The proposed rule change was published 
for comment in the Federal Register on

[[Page 47652]]

June 25, 2010.\3\ The Commission received no comment letters on the 
proposal. This order approves the proposed rule change.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 62326 (June 18, 
2010), 75 FR 36460 (``Notice'').
---------------------------------------------------------------------------

    In its proposal, NASDAQ described real-time analytical tools 
offered by Correlix to measure the latency of orders to and from the 
NASDAQ Market Center, and also described the terms of the pricing and 
the revenue sharing agreement between Correlix and the Exchange. In 
addition, NASDAQ represented that under the agreement, NASDAQ will 
receive 30% of the total monthly subscription fees received by Correlix 
from parties who have contracted directly with Correlix to use their 
RaceTeam latency measurement service for the NASDAQ Market Center. 
According to the Exchange, NASDAQ will not bill or contract with any 
Correlix RaceTeam customer directly.
    Pricing for the Correlix RaceTeam product for the NASDAQ market 
varies depending on the number of unique MPIDs and ports selected by 
the customer for monitoring by Correlix. For NASDAQ (including the 
NASDAQ Options Market), the fee will be an initial $3,000 monthly base 
fee for the first unique MPID monitored. For each additional unique 
MPID sought to be monitored, an additional monthly charge of $1,000 
will be assessed. The monthly price for each unique MPID includes the 
monitoring of up to 25 NASDAQ port connections associated with that 
particular MPID. Customers that wish to exceed 25 ports per MPID for 
monitoring can purchase additional 25 port blocks for an additional fee 
of $1,000 per month per MPID.
    According to the Exchange, Correlix will see an individualized 
unique NASDAQ-generated identifier that will allow Correlix RaceTeam to 
determine round-trip order time,\4\ from the time the order reaches the 
NASDAQ extranet, through the NASDAQ matching engine, and back out of 
the NASDAQ extranet. In its proposal, the Exchange represented that the 
RaceTeam product offering does not measure latency outside of the 
NASDAQ extranet. Further, NASDAQ stated that the unique identifier 
serves as a technological information barrier so that the RaceTeam data 
collector will only be able to view data for Correlix RaceTeam 
subscriber firms related to latency. Accordingly, Correlix will not see 
subscriber's individual order detail such as security, price or size; 
individual RaceTeam subscribers' logins will restrict access to only 
their own latency data; and Correlix will not see specific information 
regarding the trading activity of non-subscribers.
---------------------------------------------------------------------------

    \4\ According to NASDAQ, the product measures latency of orders 
regardless of whether the orders are rejected, executed, or 
partially executed.
---------------------------------------------------------------------------

    After careful review, the Commission finds that the proposed rule 
change is consistent with the requirements of the Act and the rules and 
regulations thereunder applicable to a national securities exchange.\5\ 
In particular, the Commission finds that the proposed rule change is 
consistent with Section 6(b)(4) of the Act,\6\ which requires that the 
rules of a national securities exchange provide for the equitable 
allocation of reasonable dues, fees and other charges among its members 
and issuers and other persons using its facilities, and with Section 
6(b)(5) of the Act,\7\ which requires, among other things, that that 
the rules of a national securities exchange be designed to promote just 
and equitable principles of trade, to remove impediments to and perfect 
the mechanism of a free and open market and a national market system 
and, in general, to protect investors and the public interest, and not 
be designed to permit unfair discrimination between customers, issuers, 
brokers, or dealers.
---------------------------------------------------------------------------

    \5\ In approving this proposal, the Commission has considered 
the proposed rule's impact on efficiency, competition, and capital 
formation. See 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b)(4).
    \7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    Pursuant to the arrangement, NASDAQ makes the RaceTeam product 
uniformly available to all customers who voluntarily request it and pay 
the fees as detailed in the proposal, pursuant to a standard non-
discriminatory pricing schedule. In addition, the Commission believes 
that the proposal will further the protection of investors and the 
public interest because: (1) Correlix will only be able to view data 
related to latency for Correlix RaceTeam subscriber firms; (2) Correlix 
will not see a subscriber's individual order detail such as security, 
price or size; (3) individual RaceTeam subscribers' logins will 
restrict access to only their own latency data; and (4) Correlix will 
not see specific information regarding the trading activity of non-
subscribers.
    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\8\ that the proposed rule change (SR-NASDAQ-2010-068) be, and 
hereby is, approved.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-19330 Filed 8-5-10; 8:45 am]
BILLING CODE 8010-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.