Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of Filing of Proposed Rule Change Relating to a Revenue Sharing Program With Correlix, Inc., 50017-50019 [2010-20105]
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Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices
fee levels at a particular exchange to be
excessive. The Exchange believes that
the proposed fees it charges for options
overlying the Select 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. In particular, the
Exchange believes increasing the rebate
for Priority Customer Complex orders
will attract additional order flow to the
Exchange. As to the proposed fee
change for taking liquidity from the
Complex Order Book, the Exchange
believes the proposed increase is
reasonable and equitable in that the
increase applies to all market
participants that were previously
subject to this fee. Moreover, the
Exchange believes that the proposed
fees are fair, equitable and not unfairly
discriminatory because the proposed
fees are consistent with price
differentiation that exists today at all
option exchanges. Additionally, the
Exchange believes it remains an
attractive venue for market participants
to trade complex orders despite the
proposed nominal fee increase as its
fees are still lower than fees charged by
other options exchanges. PHLX, For
example, currently charges BrokerDealers and Firms $0.45 per contract for
removing liquidity from its Complex
Order Live Auction.15
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.
sroberts on DSKD5P82C1PROD with NOTICES
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
The foregoing rule change has become
effective pursuant to Section 19(b)(3) of
the Act 16 and Rule 19b–4(f)(2) 17
thereunder. At any time within 60 days
15 See PHLX Fee Schedule. See also Securities
Exchange Act Release No. 61398 (January 22, 2010),
75 FR 4884 (January 29, 2010) (SR–PHLX–2009–
116).
16 15 U.S.C. 78s(b)(3)(A).
17 17 CFR 240.19b–4(f)(2).
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18:51 Aug 13, 2010
Jkt 220001
of the filing of such proposed rule
change, the Commission summarily may
temporarily suspend 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–ISE–2010–82 on the subject
line.
50017
should refer to File Number SR–ISE–
2010–82 and should be submitted on or
before September 7, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–20147 Filed 8–13–10; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62683; File No. SR–EDGA–
2010–09]
Self-Regulatory Organizations; EDGA
Exchange, Inc.; Notice of Filing of
Proposed Rule Change Relating to a
Revenue Sharing Program With
Correlix, Inc.
August 10, 2010.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
Paper Comments
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
• Send paper comments in triplicate
notice is hereby given that, July 28,
to Elizabeth M. Murphy, Secretary,
2010, EDGA Exchange, Inc. (the
Securities and Exchange Commission,
‘‘Exchange’’ or ‘‘EDGA’’) filed with the
100 F Street, NE., Washington, DC
Securities and Exchange Commission
20549–1090.
(the ‘‘Commission’’) the proposed rule
All submissions should refer to File
change as described in Items I and II
Number SR–ISE–2010–82. This file
below, which Items have been prepared
number should be included on the
by the Exchange. The Commission is
subject line if e-mail is used. To help the publishing this notice to solicit
Commission process and review your
comments on the proposed rule change
comments more efficiently, please use
from interested persons.
only one method. The Commission will
post all comments on the Commission’s I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
Internet Web site (https://www.sec.gov/
the Proposed Rule Change
rules/sro.shtml). Copies of the
submission, all subsequent
EDGA proposes to establish a revenue
amendments, all written statements
sharing program with Correlix, Inc.
with respect to the proposed rule
(‘‘Correlix’’). There is no new proposed
change that are filed with the
rule text.
Commission, and all written
II. Self-Regulatory Organization’s
communications relating to the
Statement of the Purpose of, and
proposed rule change between the
Commission and any person, other than Statutory Basis for, the Proposed Rule
Change
those that may be withheld from the
public in accordance with the
In its filing with the Commission, the
provisions of 5 U.S.C. 552, will be
Exchange included statements
available for Web site viewing and
concerning the purpose of, and basis for,
printing in the Commission’s Public
the proposed rule change and discussed
Reference Room, 100 F Street, NE.,
any comments it received on the
Washington, DC 20549, on official
proposed rule change. The text of these
business days between the hours of 10
statements may be examined at the
a.m. and 3 p.m. Copies of the filing also places specified in Item IV below. The
will be available for inspection and
self-regulatory organization has
copying at the principal office of the
prepared summaries, set forth in
Exchange. All comments received will
Sections A, B and C below, of the most
be posted without change; the
significant aspects of such statements.
Commission does not edit personal
identifying information from
18 17 CFR 200.30–3(a)(12).
submissions. You should submit only
1 15 U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
information that you wish to make
3 17 CFR 240.19b–4.
available publicly. All submissions
PO 00000
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Fmt 4703
Sfmt 4703
E:\FR\FM\16AUN1.SGM
16AUN1
50018
Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
sroberts on DSKD5P82C1PROD with NOTICES
The Exchange is filing a proposed rule
change to establish a revenue sharing
program with Correlix effective upon
filing with the Commission. Pursuant to
an agreement with Correlix, Correlix
will provide to users of the Exchange
real-time analytical tools to measure the
latency of orders to and from that
System. Under the agreement, the
Exchange 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 Exchange. The Exchange
will not bill or contract with any
Correlix RaceTeam customer directly.
Pricing for the Correlix RaceTeam
product for the Exchange varies
depending on the depth of latency
information requested, the number of
unique MPIDs subscribed by the
customer, and the number of ports
available for monitoring by Correlix. For
boundary-level Exchange latency
information,4 the fee will be an initial
$1,500 monthly base fee for the first 25
ports associated in aggregate with any of
the MPIDs selected by the Member for
latency monitoring. For each additional
25 ports associated in aggregate with
any of the MPIDs selected by the
Member for latency monitoring, an
additional monthly charge of $750 will
be assessed. For match-level Exchange
latency information,5 the fee will be an
initial $2,000 monthly base fee for the
first 25 ports associated in aggregate
with any of the MPIDs selected for
latency monitoring, and an additional
$1000 per month for each additional 25
ports associated in aggregate with any of
the MPIDs selected for latency
monitoring.
Under the program, Correlix will see
an individualized unique Exchangegenerated identifier that will allow
Correlix RaceTeam to determine round
4 The time that elapses from an order message’s
receipt by an Exchange device until the time that
a matching engine acknowledgement with respect
to such order message is transmitted from the
Exchange device back to the user. For market data,
the time measurement will be from the time that the
market data engine receives a market data update
until the time that the market data update is
transmitted from the Exchange device back to the
user.
5 In addition to the boundary-level Exchange
latency information, match level information will
also provide further elapsed time detail for
messaging between Exchange internal systems.
VerDate Mar<15>2010
18:51 Aug 13, 2010
Jkt 220001
trip order time,6 from the time the order
reaches the Exchange extranet, through
the Exchange matching engine, and back
out of the Exchange extranet. The
RaceTeam product offering does not
measure latency outside of the Exchange
extranet. 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. 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. Correlix will see no specific
information regarding the trading
activity of non-subscribers.
The Exchange believes that above
arrangement will provide users of the
Exchange greater transparency into the
processing of their trading activity and
allow them to make more efficient
trading decisions.
2. Statutory Basis
The statutory basis for the proposed
rule change is Section 6(b)(5) of the
Act,7 which requires the rules of an
exchange to promote just and equitable
principles of trade, to foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, 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. In
particular, the proposal will provide
greater transparency into trade and
information processing and thus allow
market participants to make betterinformed and more efficient trading
decisions.
In addition, the Exchange believes
that the proposed rule change is
consistent with the provisions of
Section 6 of the Act,8 in general, and
with Section 6(b)(4) of the Act,9 in
particular, in that it provides for the
equitable allocation of reasonable dues,
fees and other charges among members
and issuers and other persons using any
facility or system which the Exchange
operates or controls. In particular, the
Exchange notes that it operates in a
highly competitive market in which
market participants can readily direct
orders to competing venues and that use
of the Correlix RaceTeam product is
6 The product measures latency of orders whether
the orders are rejected, executed, or partially
executed.
7 15 U.S.C. 78f(b)(5).
8 15 U.S.C. 78f.
9 15 U.S.C. 78f(b)(4).
PO 00000
Frm 00133
Fmt 4703
Sfmt 4703
completely voluntary. Further, the
Exchange makes the RaceTeam product
uniformly available pursuant to a
standard non-discriminatory pricing
schedule offered by Correlix.
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 45 days of the date of
publication of this notice in the Federal
Register or within such longer period
up to 90 days (i) as the Commission may
designate 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 or disapprove
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
Number SR–EDGA–2010–09 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–EDGA–2010–09. This file
number should be included on the
E:\FR\FM\16AUN1.SGM
16AUN1
Federal Register / Vol. 75, No. 157 / Monday, August 16, 2010 / Notices
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,10 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–EDGA–
2010–09 and should be submitted on or
before September 7, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–20105 Filed 8–13–10; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62680; File No. SR–EDGX–
2010–06]
Self-Regulatory Organizations; EDGX
Exchange, Inc.; Order Approving
Proposed Rule Change to Amend the
EDGX Fee Schedule to Impose Fees
for Physical Ports Used To Connect To
EDGX Exchange
sroberts on DSKD5P82C1PROD with NOTICES
August 10, 2010.
I. Introduction
On July 1, 2010, the EDGX Exchange,
Inc. (‘‘EDGX’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
10 The text of the proposed rule change is
available on Exchange’s Web site at https://
www.directedge.com, on the Commission’s Web site
at https://www.sec.gov, at EDGA, and at the
Commission’s Public Reference Room.
11 17 CFR 200.30–3(a)(12).
VerDate Mar<15>2010
18:51 Aug 13, 2010
Jkt 220001
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 amend its fee schedule to
begin charging an annual fee to
Members and non-members for certain
physical ports used to connect to the
Exchange’s systems. The proposed rule
change was published for comment in
the Federal Register on July 9, 2010.3
The Commission received no comment
letters regarding the proposal. This
order approves the proposed rule
change.
50019
other market centers provide similar
services to their Members and nonmembers.5
The Exchange believes that the
proposal will offer market participants
additional EDGX connectivity choices,
providing for greater access to EDGX
while allowing each market participant
to choose the method of connectivity
based on its specific needs.
III. Discussion
The Commission finds that the
proposed rule change is consistent with
the requirements of the Act and the
rules and regulations thereunder
II. Description of the Proposal
applicable to a national securities
exchange.6 Specifically, the
The Exchange proposes to begin
Commission finds that the proposal is
charging an annual fee to Members and
non-members for physical ports used to consistent with Section 6(b)(4) of the
Act,7 which requires the equitable
connect to the Exchange’s systems for
allocation of reasonable dues, fees and
purposes that include order entry and
the receipt of Exchange data. A physical other charges among its members and
other persons using its facilities, and
port is a port used by a Member or nonmember to connect into the Exchange at Section 6(b)(5) of the Act,8 which
the data centers where Exchange servers requires, among other things, that the
rules of a national securities exchange
are located.4 Physical port connections
be designed to promote just and
can occur either through an external
equitable principles of trade, to remove
telecommunication circuit or a crossimpediments to and perfect the
connection. Currently, Members and
mechanism of a free and open market
non-members have a number of
and a national market system and, in
alternative methods available to them
general, to protect investors and the
for connecting to the Exchange without
public interest, and not be designed to
the need to obtain an independent
permit unfair discrimination between
physical connection, including the use
of financial extranets or service bureaus. customers, issuers, brokers, or dealers.
The Commission also finds that the
The Exchange believes that some
Members and non-members may wish to proposed rule change is consistent with
Section 6(b)(8) of the Act,9 which
connect directly to the Exchange’s
requires that the rules of an exchange
systems with their own dedicated
not impose a burden on competition not
circuit connection. To support their
necessary or appropriate in furtherance
requirements and the associated
of the purpose of the Act. Finally, the
infrastructure costs related to direct
Commission finds that the proposed
circuit connectivity, EDGX proposes to
rule change is consistent with Rule
charge Members and non-members the
603(a) of Regulation NMS,10 which
following annual fees based on the
requires an exclusive processor that
connectivity service type:
distributes information with respect to
Connection
Annual fee per quotations for or transactions in an NMS
service type
physical port
stock to do so on terms that are fair and
reasonable and not unreasonably
1 Gb Copper .........................
5,000
1 Gb Fiber ............................
7,500 discriminatory.
The Commission believes that the
10 Gb Fiber ..........................
10,000
proposed physical port fees are
equitably allocated among Members and
Only one physical port is required to
non-members and do not unfairly or
access all services for EDGX. However,
Members and non-members may choose
5 See Securities Exchange Act Release No. 61545
more than one physical port and
8769 (February 25, 2010)
different connection service types based (February 19, 2010), 75 FRSR–BATS–2009–032). See
(order approving File No.
on their needs. The Exchange notes that also Securities Exchange Act Release No. 62392
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 62437
(July 1, 2010), 75 FR 39599.
4 Non-members may 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.
PO 00000
Frm 00134
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(June 28, 2010), 75 FR 38857 (July 6, 2010) (notice
of filing of File No. SR–Nasdaq–2010–077).
6 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
7 15 U.S.C. 78f(b)(4).
8 15 U.S.C. 78f(b)(5).
9 15 U.S.C. 78f(b)(8).
10 17 CFR 242.603(a).
E:\FR\FM\16AUN1.SGM
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]]>Agencies
[Federal Register Volume 75, Number 157 (Monday, August 16, 2010)]
[Notices]
[Pages 50017-50019]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-20105]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62683; File No. SR-EDGA-2010-09]
Self-Regulatory Organizations; EDGA Exchange, Inc.; Notice of
Filing of Proposed Rule Change Relating to a Revenue Sharing Program
With Correlix, Inc.
August 10, 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, July 28, 2010, EDGA Exchange, Inc. (the ``Exchange'' or
``EDGA'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and II
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\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
EDGA proposes to establish a revenue sharing program with Correlix,
Inc. (``Correlix''). There is no new proposed rule text.
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 self-regulatory organization has prepared summaries,
set forth in Sections A, B and C below, of the most significant aspects
of such statements.
[[Page 50018]]
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange is filing a proposed rule change to establish a
revenue sharing program with Correlix effective upon filing with the
Commission. Pursuant to an agreement with Correlix, Correlix will
provide to users of the Exchange real-time analytical tools to measure
the latency of orders to and from that System. Under the agreement, the
Exchange 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
Exchange. The Exchange will not bill or contract with any Correlix
RaceTeam customer directly.
Pricing for the Correlix RaceTeam product for the Exchange varies
depending on the depth of latency information requested, the number of
unique MPIDs subscribed by the customer, and the number of ports
available for monitoring by Correlix. For boundary-level Exchange
latency information,\4\ the fee will be an initial $1,500 monthly base
fee for the first 25 ports associated in aggregate with any of the
MPIDs selected by the Member for latency monitoring. For each
additional 25 ports associated in aggregate with any of the MPIDs
selected by the Member for latency monitoring, an additional monthly
charge of $750 will be assessed. For match-level Exchange latency
information,\5\ the fee will be an initial $2,000 monthly base fee for
the first 25 ports associated in aggregate with any of the MPIDs
selected for latency monitoring, and an additional $1000 per month for
each additional 25 ports associated in aggregate with any of the MPIDs
selected for latency monitoring.
---------------------------------------------------------------------------
\4\ The time that elapses from an order message's receipt by an
Exchange device until the time that a matching engine
acknowledgement with respect to such order message is transmitted
from the Exchange device back to the user. For market data, the time
measurement will be from the time that the market data engine
receives a market data update until the time that the market data
update is transmitted from the Exchange device back to the user.
\5\ In addition to the boundary-level Exchange latency
information, match level information will also provide further
elapsed time detail for messaging between Exchange internal systems.
---------------------------------------------------------------------------
Under the program, Correlix will see an individualized unique
Exchange-generated identifier that will allow Correlix RaceTeam to
determine round trip order time,\6\ from the time the order reaches the
Exchange extranet, through the Exchange matching engine, and back out
of the Exchange extranet. The RaceTeam product offering does not
measure latency outside of the Exchange extranet. 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. 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. Correlix will see no specific information regarding the
trading activity of non-subscribers.
---------------------------------------------------------------------------
\6\ The product measures latency of orders whether the orders
are rejected, executed, or partially executed.
---------------------------------------------------------------------------
The Exchange believes that above arrangement will provide users of
the Exchange greater transparency into the processing of their trading
activity and allow them to make more efficient trading decisions.
2. Statutory Basis
The statutory basis for the proposed rule change is Section 6(b)(5)
of the Act,\7\ which requires the rules of an exchange to promote just
and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, 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. In particular, the proposal
will provide greater transparency into trade and information processing
and thus allow market participants to make better-informed and more
efficient trading decisions.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
In addition, the Exchange believes that the proposed rule change is
consistent with the provisions of Section 6 of the Act,\8\ in general,
and with Section 6(b)(4) of the Act,\9\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility or system which the Exchange operates or controls. In
particular, the Exchange notes that it operates in a highly competitive
market in which market participants can readily direct orders to
competing venues and that use of the Correlix RaceTeam product is
completely voluntary. Further, the Exchange makes the RaceTeam product
uniformly available pursuant to a standard non-discriminatory pricing
schedule offered by Correlix.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f.
\9\ 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 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate 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 or disapprove 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 Number SR-EDGA-2010-09 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-EDGA-2010-09. This file
number should be included on the
[[Page 50019]]
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,\10\ 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-EDGA-2010-09 and should be submitted on or before
September 7, 2010.
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\10\ The text of the proposed rule change is available on
Exchange's Web site at https://www.directedge.com, on the
Commission's Web site at https://www.sec.gov, at EDGA, and at the
Commission's Public Reference Room.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-20105 Filed 8-13-10; 8:45 am]
BILLING CODE 8010-01-P
