Self-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Routing Fees, 67801-67803 [2010-27690]
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Federal Register / Vol. 75, No. 212 / Wednesday, November 3, 2010 / Notices
months until expiration. This sentence
should have been removed when the
Exchange expanded the $1 Strike Price
Program in a limited fashion to allow
BOX to list new series in $1 intervals up
to $5 in long-term option series in up to
200 option classes on individual
stocks.6
2. Statutory Basis
The Exchange believes that the
proposal is consistent with the
requirements of Section 6(b) of the Act,7
in general, and Section 6(b)(5) of the
Act,8 in particular, in that it is designed
to promote just and equitable principles
of trade, to prevent fraudulent and
manipulative acts, to remove
impediments to and perfect the
mechanism for a free and open market
and a national market system and, in
general, to protect investors and the
public interest. In particular, the
Exchange believes that amending the
current $0.50 Strike Program will result
in a continuing benefit to investors by
giving them more flexibility to closely
tailor their investment decisions in a
greater number of securities. Investors
would be provided with an opportunity,
which does not exist today, to minimize
losses associated with declining stock
prices. With the increase in actively
traded, low-priced securities, BOX
believes that amending the $0.50 Strike
Program to allow a $0.50 strike interval
below $1 for strike prices of $5.50 or
less is necessary to provide investors
additional opportunity to minimize and
manage risk.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act.
jlentini on DSKJ8SOYB1PROD with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has neither solicited
nor received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not significantly affect the
protection of investors or the public
interest, does not impose any significant
6 See
Securities Exchange Act Release No. 61041
(November 20, 2009), 74 FR 53535 (November 30,
2009) (SR–BX–2009–73).
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
VerDate Mar<15>2010
19:21 Nov 02, 2010
Jkt 223001
burden on competition, and, by its
terms, does not become operative for 30
days from the date on which it was
filed, or such shorter time as the
Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 9 and Rule 19b–
4(f)(6) thereunder.10
The Exchange has requested that the
Commission waive the 30-day operative
delay. The Commission believes that
waiver of the operative delay is
consistent with the protection of
investors and the public interest
because the proposal is substantially
similar to that of another exchange that
has been approved by the
Commission.11 Therefore, the
Commission designates the proposal
operative upon filing.12
At any time within 60 days of the
filing of the 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
67801
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–BX–2010–073. 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–BX–
2010–073 and should be submitted on
or before November 24, 2010.
• 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–BX–2010–073 on the
subject line.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
Paper Comments
[FR Doc. 2010–27701 Filed 11–2–10; 8:45 am]
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
BILLING CODE 8011–01–P
9 15
U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires the Exchange to give the
Commission written notice of the Exchange’s intent
to file the proposed rule change, along with a brief
description and text of the proposed rule change,
at least five business days prior to the date of filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Commission
has waived the five-day prefiling requirement in
this case.
11 See Securities Exchange Act Release No. 63132
(October 19, 2010), 75 FR 65541 (October 25, 2010)
(SR–Phlx–2010–118) (order approving expansion of
$0.50 Strike Price Program).
12 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
PO 00000
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63199; File No. SR–
NASDAQ–2010–139]
Self-Regulatory Organizations;
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Routing Fees
October 27, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
13 17
E:\FR\FM\03NON1.SGM
CFR 200.30–3(a)(12).
03NON1
67802
Federal Register / Vol. 75, No. 212 / Wednesday, November 3, 2010 / Notices
(‘‘Act’’), 1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
25, 2010, The NASDAQ Stock Market
LLC (‘‘NASDAQ’’ or ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘SEC’’ or ‘‘Commission’’)
the proposed rule change as described
in Items I, II, and III below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
in italics and deleted text is in
[brackets].
*
*
*
*
*
The Exchange proposes to modify
Rule 7050 governing pricing for
NASDAQ members using the NASDAQ
Options Market (‘‘NOM’’), NASDAQ’s
facility for executing and routing
standardized equity and index options.
While fee changes pursuant to this
proposal are effective upon filing, the
Exchange has designated these changes
to be operative upon the effectiveness of
SR–C2–2010–006.
The text of the proposed rule change
is set forth below. Proposed new text is
7050. NASDAQ Options Market
The following charges shall apply to
the use of the order execution and
routing services of the NASDAQ
Options Market for all securities.
*
*
*
*
*
(4) Fees for routing contracts to
markets other than the NASDAQ
Options Market shall be assessed as
provided below. The current fees and a
historical record of applicable fees shall
be posted on the NasdaqTrader.com
Web site.
Exchange
Customer
BATS ........................................................................................................................................................
BOX .........................................................................................................................................................
CBOE .......................................................................................................................................................
ISE ...........................................................................................................................................................
ISE Select Symbols * of 100 or more contracts ......................................................................................
NYSE Arca Penny Pilot ...........................................................................................................................
NYSE Arca Non Penny Pilot ...................................................................................................................
NYSE AMEX ............................................................................................................................................
PHLX (for all options other than PHLX Select Symbols) ........................................................................
PHLX Select Symbols ** ..........................................................................................................................
C2 ............................................................................................................................................................
$0.36
$0.06
$0.06
$0.06
$0.26
$0.50
$0.06
$0.06
$0.06
$0.30
$0.21
Firm
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
MM
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
$0.55
* These fees are applicable to orders routed to ISE that are subject to Rebates and Fees for Adding and Removing Liquidity in Select Symbols. See ISE’s Schedule of Fees for the complete list of symbols that are subject to these fees.
** These fees are applicable to orders routed to PHLX that are subject to Rebates and Fees for Adding and Removing Liquidity in Select Symbols. See PHLX’s Fee Schedule for the complete list of symbols that are subject to these fees.
*
*
*
*
*
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
www.nasdaq.cchwallstreet.com, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
jlentini on DSKJ8SOYB1PROD with NOTICES
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of and basis for
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
VerDate Mar<15>2010
19:21 Nov 02, 2010
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
NASDAQ is proposing to modify Rule
7050 governing the fees assessed for
options orders entered into NOM but
routed to and executed on away markets
(‘‘routing fees’’).
NASDAQ Options Services LLC
(‘‘NOS’’), a member of the Exchange, is
the Exchange’s exclusive order router.
Each time NOS routes to away markets
NOS is charged a $0.06 clearing fee and,
in the case of certain exchanges, a
transaction fee is also charged in certain
symbols, which are passed through to
the Exchange.
The Exchange proposes to assess new
fees for routing contracts to markets
other than the NASDAQ Options Market
to Rule 7050. The Exchange is
proposing to assess a $.21 per contract
fee for Customer option orders, a $.55
per contract fee for Firm and Market
Maker option orders that are routed to
C2 Options Exchange, Inc. (‘‘C2’’). The
Exchange is proposing to caption these
proposed fees ‘‘C2.’’
The Exchange is proposing these fees
in order to recoup clearing and
transaction charges incurred by the
Exchange when orders are routed to
C2.3 Each destination market’s
transaction charge varies and there is a
standard clearing charge for each
transaction incurred by the Exchange.
The Exchange believes that the routing
fees proposed will enable the Exchange
to recover the transaction fees assessed
by away markets, where applicable, plus
clearing fees for the execution of
Customer, Firm and Market Maker
orders. As with all fees, the Exchange
may adjust these Routing Fees in
response to competitive conditions by
filing a new proposed rule change.
While fee changes pursuant to this
proposal are effective upon filing, the
Exchange has designated these changes
to be operative upon the effectiveness of
SR–C2–2010–006.
2. Statutory Basis
NASDAQ believes that the proposed
rule changes are consistent with the
provisions of Section 6 of the Act,4 in
3 See
4 15
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PO 00000
C2 Fees Schedule.
U.S.C. 78f.
Frm 00121
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Federal Register / Vol. 75, No. 212 / Wednesday, November 3, 2010 / Notices
general, and with Section 6(b)(4) of the
Act,5 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
NASDAQ operates or controls.
The Exchange believes that this fee is
reasonable because it seeks to recoup
costs that are incurred by the Exchange
when routing customer orders to C2 on
behalf of its members. The Exchange
also believes that the proposed fees are
equitable because they will be
uniformly applied to all customers.
NASDAQ is one of eight options
market in the national market system for
standardized options. Joining NASDAQ
and electing to trade options is entirely
voluntary. Under these circumstances,
NASDAQ’s fees must be competitive
and low in order for NASDAQ to attract
order flow, execute orders, and grow as
a market. NASDAQ thus believes that its
fees are fair and reasonable and
consistent with the Exchange Act.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
jlentini on DSKJ8SOYB1PROD with NOTICES
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.6 At any time
within 60 days of the filing of the
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. If the Commission
takes such action, the Commission shall
institute proceedings to determine
whether the proposed rule should be
approved or 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:
SMALL BUSINESS ADMINISTRATION
Electronic Comments
ACTION:
• 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–NASDAQ–2010–139 on the
subject line.
Paper Comments
6 15
19:21 Nov 02, 2010
Notice and request for
comments.
In accordance with the
Paperwork Reduction Act of 1995, this
notice announces the Small Business
Administration’s intentions to request
approval on a new and/or currently
approved information collection.
SUMMARY:
Submit comments on or before
January 3, 2011.
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
Send all comments
regarding whether this information
collection is necessary for the proper
performance of the function of the
agency, whether the burden estimates
All submissions should refer to File
are accurate, and if there are ways to
Number SR–NASDAQ–2010–139. This
minimize the estimated burden and
file number should be included on the
enhance the quality of the collection, to
subject line if e-mail is used. To help the Audrey L. Farley, SES Candidate, Office
Commission process and review your
of Financial Assistance, Small Business
comments more efficiently, please use
Administration, 409 3rd Street, 8th
only one method. The Commission will Floor, Washington, DC 20416.
post all comments on the Commission’s
FOR FURTHER INFORMATION CONTACT:
Internet Web site (https://www.sec.gov/
Audrey L. Farley, Office of Financial
rules/sro.shtml). Copies of the
Assistance, 202–205–7006,
submission, all subsequent
audrey.farley@sba.gov; Curtis B. Rich,
amendments, all written statements
Management Analyst, 202–205–7030,
with respect to the proposed rule
curtis.rich@sba.gov.
change that are filed with the
Commission, and all written
SUPPLEMENTARY INFORMATION: The
communications relating to the
information collected through these
proposed rule change between the
forms from future Intermediary lenders
Commission and any person, other than will be used to determine eligibility and
those that may be withheld from the
to properly evaluate the merits of each
public in accordance with the
application for a direct loan. In
provisions of 5 U.S.C. 552, will be
addition, the information will be
available for Web site viewing and
collected for the purpose of providing
printing in the Commission’s Public
direct loan funds under the
Reference Room. Copies of the filing
Intermediary Lending Pilot Program
also will be available for inspection and (ILPP) to eligible Intermediaries, which
copying at the principal office of the
in turn will be used to provide loans to
Exchange. All comments received will
start-up, newly established, and growing
be posted without change; the
small business concerns for working
Commission does not edit personal
capital, real estate, or the acquisition of
identifying information from
materials, supplies or equipment.
submissions. You should submit only
Title: ‘‘Intermediary Lending Pilot
information that you wish to make
Program (ILPP).’’
available publicly. All submissions
Description of Respondents: Private,
should refer to File Number SR–
Non-Profit Organizations or Community
NASDAQ–2010–139 and should be
Development Corporations; and an
submitted on or before November 24,
Agency or Non-Profit entity established
2010.
by a Native American Tribal
For the Commission, by the Division of
Government.
Trading and Markets, pursuant to delegated
Form Number: N/A.
authority.7
Annual Responses: 200.
Florence E. Harmon,
Annual Burden: 3,200.
ADDRESSES:
Deputy Secretary.
[FR Doc. 2010–27690 Filed 11–2–10; 8:45 am]
Jacqueline White,
Chief, Administrative Information Branch.
[FR Doc. 2010–27730 Filed 11–2–10; 8:45 am]
U.S.C. 78f(b)(4).
U.S.C. 78s(b)(3)(A)(ii).
VerDate Mar<15>2010
Data Collection Available for Public
Comments and Recommendations
DATES:
BILLING CODE 8011–01–P
5 15
67803
7 17
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CFR 200.30–3(a)(12).
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]]>Agencies
[Federal Register Volume 75, Number 212 (Wednesday, November 3, 2010)]
[Notices]
[Pages 67801-67803]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-27690]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63199; File No. SR-NASDAQ-2010-139]
Self-Regulatory Organizations; NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Routing Fees
October 27, 2010.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
[[Page 67802]]
(``Act''), \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on October 25, 2010, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the
Exchange. The Commission is publishing this notice to solicit comments
on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to modify Rule 7050 governing pricing for
NASDAQ members using the NASDAQ Options Market (``NOM''), NASDAQ's
facility for executing and routing standardized equity and index
options.
While fee changes pursuant to this proposal are effective upon
filing, the Exchange has designated these changes to be operative upon
the effectiveness of SR-C2-2010-006.
The text of the proposed rule change is set forth below. Proposed
new text is in italics and deleted text is in [brackets].
* * * * *
7050. NASDAQ Options Market
The following charges shall apply to the use of the order execution
and routing services of the NASDAQ Options Market for all securities.
* * * * *
(4) Fees for routing contracts to markets other than the NASDAQ
Options Market shall be assessed as provided below. The current fees
and a historical record of applicable fees shall be posted on the
NasdaqTrader.com Web site.
------------------------------------------------------------------------
Exchange Customer Firm MM
------------------------------------------------------------------------
BATS............................. $0.36 $0.55 $0.55
BOX.............................. $0.06 $0.55 $0.55
CBOE............................. $0.06 $0.55 $0.55
ISE.............................. $0.06 $0.55 $0.55
ISE Select Symbols * of 100 or $0.26 $0.55 $0.55
more contracts..................
NYSE Arca Penny Pilot............ $0.50 $0.55 $0.55
NYSE Arca Non Penny Pilot........ $0.06 $0.55 $0.55
NYSE AMEX........................ $0.06 $0.55 $0.55
PHLX (for all options other than $0.06 $0.55 $0.55
PHLX Select Symbols)............
PHLX Select Symbols **........... $0.30 $0.55 $0.55
C2............................... $0.21 $0.55 $0.55
------------------------------------------------------------------------
* These fees are applicable to orders routed to ISE that are subject to
Rebates and Fees for Adding and Removing Liquidity in Select Symbols.
See ISE's Schedule of Fees for the complete list of symbols that are
subject to these fees.
** These fees are applicable to orders routed to PHLX that are subject
to Rebates and Fees for Adding and Removing Liquidity in Select
Symbols. See PHLX's Fee Schedule for the complete list of symbols that
are subject to these fees.
* * * * *
The text of the proposed rule change is available on the Exchange's
Web site at https://www.nasdaq.cchwallstreet.com, 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 Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
NASDAQ is proposing to modify Rule 7050 governing the fees assessed
for options orders entered into NOM but routed to and executed on away
markets (``routing fees'').
NASDAQ Options Services LLC (``NOS''), a member of the Exchange, is
the Exchange's exclusive order router. Each time NOS routes to away
markets NOS is charged a $0.06 clearing fee and, in the case of certain
exchanges, a transaction fee is also charged in certain symbols, which
are passed through to the Exchange.
The Exchange proposes to assess new fees for routing contracts to
markets other than the NASDAQ Options Market to Rule 7050. The Exchange
is proposing to assess a $.21 per contract fee for Customer option
orders, a $.55 per contract fee for Firm and Market Maker option orders
that are routed to C2 Options Exchange, Inc. (``C2''). The Exchange is
proposing to caption these proposed fees ``C2.''
The Exchange is proposing these fees in order to recoup clearing
and transaction charges incurred by the Exchange when orders are routed
to C2.\3\ Each destination market's transaction charge varies and there
is a standard clearing charge for each transaction incurred by the
Exchange. The Exchange believes that the routing fees proposed will
enable the Exchange to recover the transaction fees assessed by away
markets, where applicable, plus clearing fees for the execution of
Customer, Firm and Market Maker orders. As with all fees, the Exchange
may adjust these Routing Fees in response to competitive conditions by
filing a new proposed rule change.
---------------------------------------------------------------------------
\3\ See C2 Fees Schedule.
---------------------------------------------------------------------------
While fee changes pursuant to this proposal are effective upon
filing, the Exchange has designated these changes to be operative upon
the effectiveness of SR-C2-2010-006.
2. Statutory Basis
NASDAQ believes that the proposed rule changes are consistent with
the provisions of Section 6 of the Act,\4\ in
[[Page 67803]]
general, and with Section 6(b)(4) of the Act,\5\ 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 NASDAQ operates or controls.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f.
\5\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
The Exchange believes that this fee is reasonable because it seeks
to recoup costs that are incurred by the Exchange when routing customer
orders to C2 on behalf of its members. The Exchange also believes that
the proposed fees are equitable because they will be uniformly applied
to all customers.
NASDAQ is one of eight options market in the national market system
for standardized options. Joining NASDAQ and electing to trade options
is entirely voluntary. Under these circumstances, NASDAQ's fees must be
competitive and low in order for NASDAQ to attract order flow, execute
orders, and grow as a market. NASDAQ thus believes that its fees are
fair and reasonable and consistent with the Exchange Act.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\6\ At any time within 60 days of the filing
of the 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. If the Commission takes such action, the Commission shall
institute proceedings to determine whether the proposed rule should be
approved or disapproved.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------
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-NASDAQ-2010-139 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-NASDAQ-2010-139. 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. 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-NASDAQ-2010-139 and should be submitted on or before
November 24, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-27690 Filed 11-2-10; 8:45 am]
BILLING CODE 8011-01-P
