Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Flexible 60-Day Trial Period for New Users of Correlix Latency Measurement Services, 68385-68387 [2010-27943]

Download as PDF Federal Register / Vol. 75, No. 214 / Friday, November 5, 2010 / Notices made available: Sanford Fox, Bryce Harlow (accretion) and Lawrence Higby. 4. White House Central Files, Name Files: Volume: 0.2 cubic foot. The Name Files were used for routine materials filed alphabetically by the name of the correspondent; copies of documents in the Name Files were usually filed by subject in the Subject Files. The following Name File folder will be made available: Glass, R.; Richey, A–C; Whiting, A–C. Dated: October 29, 2010. David S. Ferriero, Archivist of the United States. [FR Doc. 2010–28053 Filed 11–4–10; 8:45 am] BILLING CODE 7515–01–P OFFICE OF PERSONNEL MANAGEMENT Senior Executive Service–Performance Review Board Office of Personnel Management. ACTION: Notice. AGENCY: Notice is hereby given of the appointment of members of the OPM Performance Review Board. FOR FURTHER INFORMATION CONTACT: Tammy Van Keuren, OPM Human Resources, Recruitment and Staffing, Office of Personnel Management, 1900 E Street NW., Washington, DC 20415, (202) 606–1402. SUPPLEMENTARY INFORMATION: The Office of Personnel Management Section 4314(c)(1) through (5) of Title 5, U.S.C., requires each agency to establish, in accordance with regulations prescribed by the Office of Personnel Management, one or more SES performance review boards. The board reviews and evaluates the initial appraisal of a senior executive’s performance by the supervisor, and considers recommendations to the appointing authority regarding the performance of the senior executive. SUMMARY: mstockstill on DSKH9S0YB1PROD with NOTICES Office of Personnel Management. John Berry, Director. The following have been designated as members of the Performance Review Board of the U.S. Office of Personnel Management: Elizabeth A. Montoya, Chief of Staff; Elaine Kaplan, General Counsel; Jeffrey Sumberg, Associate Director; Kathy Dillaman, Associate Director; John O’Brien, Director of Healthcare and Insurance; Joseph Kennedy, Deputy Associate Director; VerDate Mar<15>2010 17:16 Nov 04, 2010 Jkt 223001 Mark Reinhold, Deputy Associate Director for Human Resources— Executive Secretariat. SECURITIES AND EXCHANGE COMMISSION [FR Doc. 2010–28171 Filed 11–4–10; 8:45 am] 68385 [Release No. 34–63218; File No. SR– NASDAQ–2010–140] BILLING CODE 6325–39–P 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 Securities and Exchange Commission will hold a Closed Meeting on Wednesday, November 10, 2010 at 2 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(5), (7), 9(B) and (10) and 17 CFR 200.402(a)(5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Aguilar, as duty officer, voted to consider the items listed for the Closed Meeting in a closed session, and determined that no earlier notice thereof was possible. The subject matter of the Closed Meeting scheduled for Wednesday, November 10, 2010 will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; An adjudicatory matter; Consideration of amici participation; and Other matters relating to enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: November 3, 2010. Elizabeth M. Murphy, Secretary. Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Flexible 60-Day Trial Period for New Users of Correlix Latency Measurement Services November 1, 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 October 26, 2010, The NASDAQ Stock Market LLC (‘‘NASDAQ’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘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. I. Self-Regulatory Organization’s Statement of the Terms of the Substance of the Proposed Rule Change NASDAQ proposes to change to establish a flexible 60-day free trial period for new users of Correlix latency measurement services, and to codify prices for those services. The text of the proposed rule change is available at https:// nasdaq.cchwallstreet.com/, at NASDAQ’s principal office, on the Commission’s Web site at https:// www.sec.gov, and at the Commission’s Public Reference Room. The Exchange will implement the proposed rule change immediately. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, NASDAQ 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. NASDAQ has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. [FR Doc. 2010–28140 Filed 11–3–10; 4:15 pm] 1 15 BILLING CODE 8011–01–P 2 17 PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 E:\FR\FM\05NON1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 05NON1 68386 Federal Register / Vol. 75, No. 214 / Friday, November 5, 2010 / Notices mstockstill on DSKH9S0YB1PROD with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Correlix provides users of the NASDAQ Market Center (‘‘System’’) realtime analytical tools to measure the latency of orders to and from that System. Correlix shares with the Exchange a portion of the revenues it receives from subscribers.3 Recently, the Commission approved a one-time 60day free trial period for parties wishing to evaluate the Correlix RaceTeam offering for the NASDAQ Market Center.4 That initial one-time free trial period expired on August 28, 2010. The instant filing seeks Commission approval to: (1) Modify the free trial period so that all parties will be eligible for one free 60-day trial period whenever they initially elect to sign-up for the service now or in the future; and (2) codify and make transparent the current fees imposed by Correlix on those using the service to measure latency to and from the Exchange. The Exchange is proposing the flexible trial period so as to ensure that all potential Correlix users have an equal opportunity to take advantage of an initial free trial period to evaluate the product. NASDAQ also notes that the introduction of more flexibility in determining when to participate in the free trial period will allow Correlix users to introduce the product into their own technology infrastructure at a time of their own choosing and in coordination with other scheduled technology initiatives. Current 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 is an initial $3,000 monthly base fee for the first unique MPID monitored. For each additional unique MIPD sought to be monitored, an additional monthly charge of $1,000 is 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 3 The specifics of the NASDAQ/Correlix relationship are detailed in SR–NASDAQ–2010– 068, a separate filing also recently approved by the Commission. See Exchange Act Release No. 62605 (July 30, 2010), 75 FR 47651 (August 6, 2010). 4 See Exchange Act Release No. 62391 (June 28, 2010), 75 FR 38858 (July 6, 2010). VerDate Mar<15>2010 17:16 Nov 04, 2010 Jkt 223001 $1000 per month per MPID. To enhance transparency, the Exchange proposed to codify these fees. The Exchange believes that the above proposals will provide users of the NASDAQ Market Center greater transparency into the fees associated with latency measurement services and encourage the use of such services on a trial basis. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,5 in general, and with Section 6(b)(5) of the Act,6 in particular, in that the proposal is designed to prevent fraudulent and manipulative acts and practices, 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 filing makes transparent uniform fees imposed for latency measurement services. In addition, the Exchange believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,7 in general, and with Section 6(b)(4) of the Act,8 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 the use of Correlix latency measurement services is entirely voluntary and made available on a nondiscriminatory basis. B. Self-Regulatory Organization’s Statement on Burden on Competition NASDAQ does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. 5 15 U.S.C. 78f. U.S.C. 78f(b)(5). 7 15 U.S.C. 78f. 8 15 U.S.C. 78f(b)(4). Frm 00072 Fmt 4703 The proposed rule change is effective upon filing pursuant to Section 19(b)(3)(A) of the Act and paragraph (f)(6) of Rule 19b–4 thereunder, in that the proposed rule change: (i) Does not significantly affect the protection of investors or the public interest; (ii) does not impose any significant burden on competition; and (iii) does not become operative for 30 days after the date of the filing, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest; provided the selfregulatory organization has given the Commission written notice of its 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 Exchange has requested that the Commission waive the 30-day operative delay. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. The Commission notes that the Correlix service and fees sought to be codified here have already been approved by the Commission, and that accelerated approval of the flexible initial trial period will ensure that the free period is made available to all interested parties without delay. Accordingly, the Commission designates the proposed rule change operative upon filing with the Commission.9 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. 9 For the 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. 78(c)(f). 6 15 PO 00000 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Sfmt 4703 E:\FR\FM\05NON1.SGM 05NON1 Federal Register / Vol. 75, No. 214 / Friday, November 5, 2010 / Notices Comments may be submitted by any of the following methods: SECURITIES AND EXCHANGE COMMISSION Electronic Comments [Release No. 34–63219; File No. SR–Phlx– 2010–152] • 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–2010–140 on the subject line. Paper Comments mstockstill on DSKH9S0YB1PROD with NOTICES • 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–2010–140. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web site viewing and printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR– NASDAQ–2010–140, and should be submitted on or before November 26, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–27943 Filed 11–4–10; 8:45 am] BILLING CODE 8011–01–P Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Revenue Sharing Program With Correlix, Inc. and Free Trial Period for New Users November 1, 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 October 26, 2010, NASDAQ OMX PHLX LLC (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Exchange has designated the proposed rule change as effecting a change described under Rule 19b–4(f)(6) under the Act,3 which renders the proposal effective upon filing with the Commission. 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 is filing with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change to establish a revenue sharing program with Correlix, Inc. and a free trial period for new users. The text of the proposed rule change is available at https:// www.nasdaqtrader.com/ micro.aspx?id=PHLXRulefilings, at the Exchange’s principal office, on the Commission’s Web site at https:// www.sec.gov, and at the Commission’s Public Reference Room. The Exchange will implement the proposed rule change immediately. 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 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 17 CFR 240.19b–4(f)(6). CFR 200.30–3(a)(12). VerDate Mar<15>2010 17:16 Nov 04, 2010 Jkt 223001 PO 00000 Frm 00073 Fmt 4703 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 The Exchange is filing a proposed rule change to establish a revenue sharing program with Correlix. The Exchange has entered into an agreement with Correlix to provide to users of the Exchange real-time analytical tools to measure the latency of orders to and from its systems. 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’s systems. 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 number of unique MPIDs and ports selected by the customer for monitoring by Correlix. For the Exchange, the fee will be an initial $1,000 monthly base fee for the first unique MPID monitored. For each additional unique MIPD 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 Exchange 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 $1000 per month per MPID. Under the program, Correlix will see an individualized unique Exchangegenerated identifier that will allow Correlix RaceTeam to determine round trip order time 4, 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 4 The product measures latency of orders whether the orders are rejected, executed, or partially executed. 2 17 10 17 68387 Sfmt 4703 E:\FR\FM\05NON1.SGM 05NON1

Agencies

[Federal Register Volume 75, Number 214 (Friday, November 5, 2010)]
[Notices]
[Pages 68385-68387]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-27943]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63218; File No. SR-NASDAQ-2010-140]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Establish a Flexible 60-Day Trial Period for New Users of Correlix 
Latency Measurement Services

November 1, 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 October 26, 2010, The NASDAQ Stock Market LLC (``NASDAQ'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``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\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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

    NASDAQ proposes to change to establish a flexible 60-day free trial 
period for new users of Correlix latency measurement services, and to 
codify prices for those services.
    The text of the proposed rule change is available at https://nasdaq.cchwallstreet.com/, at NASDAQ's principal office, on the 
Commission's Web site at https://www.sec.gov, and at the Commission's 
Public Reference Room. The Exchange will implement the proposed rule 
change immediately.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, NASDAQ 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. NASDAQ has prepared summaries, set forth in Sections A, 
B, and C below, of the most significant aspects of such statements.

[[Page 68386]]

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    Correlix provides users of the NASDAQ Market Center (``System'') 
real-time analytical tools to measure the latency of orders to and from 
that System. Correlix shares with the Exchange a portion of the 
revenues it receives from subscribers.\3\ Recently, the Commission 
approved a one-time 60-day free trial period for parties wishing to 
evaluate the Correlix RaceTeam offering for the NASDAQ Market 
Center.\4\ That initial one-time free trial period expired on August 
28, 2010. The instant filing seeks Commission approval to: (1) Modify 
the free trial period so that all parties will be eligible for one free 
60-day trial period whenever they initially elect to sign-up for the 
service now or in the future; and (2) codify and make transparent the 
current fees imposed by Correlix on those using the service to measure 
latency to and from the Exchange.
---------------------------------------------------------------------------

    \3\ The specifics of the NASDAQ/Correlix relationship are 
detailed in SR-NASDAQ-2010-068, a separate filing also recently 
approved by the Commission. See Exchange Act Release No. 62605 (July 
30, 2010), 75 FR 47651 (August 6, 2010).
    \4\ See Exchange Act Release No. 62391 (June 28, 2010), 75 FR 
38858 (July 6, 2010).
---------------------------------------------------------------------------

    The Exchange is proposing the flexible trial period so as to ensure 
that all potential Correlix users have an equal opportunity to take 
advantage of an initial free trial period to evaluate the product. 
NASDAQ also notes that the introduction of more flexibility in 
determining when to participate in the free trial period will allow 
Correlix users to introduce the product into their own technology 
infrastructure at a time of their own choosing and in coordination with 
other scheduled technology initiatives.
    Current 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 is an initial $3,000 
monthly base fee for the first unique MPID monitored. For each 
additional unique MIPD sought to be monitored, an additional monthly 
charge of $1,000 is 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 $1000 per month per MPID. To enhance transparency, 
the Exchange proposed to codify these fees.
    The Exchange believes that the above proposals will provide users 
of the NASDAQ Market Center greater transparency into the fees 
associated with latency measurement services and encourage the use of 
such services on a trial basis.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 of the Act,\5\ in general, and with 
Section 6(b)(5) of the Act,\6\ in particular, in that the proposal is 
designed to prevent fraudulent and manipulative acts and practices, 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 filing makes transparent uniform fees imposed for 
latency measurement services.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f.
    \6\ 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,\7\ in general, 
and with Section 6(b)(4) of the Act,\8\ 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 the use of Correlix latency 
measurement services is entirely voluntary and made available on a non-
discriminatory basis.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f.
    \8\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    NASDAQ does not believe that the proposed rule change will result 
in any burden on competition that is not necessary or appropriate in 
furtherance of the purposes of the Act, as amended.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

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

    The proposed rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) of the Act and paragraph (f)(6) of Rule 19b-4 
thereunder, in that the proposed rule change: (i) Does not 
significantly affect the protection of investors or the public 
interest; (ii) does not impose any significant burden on competition; 
and (iii) does not become operative for 30 days after the date of the 
filing, or such shorter time as the Commission may designate if 
consistent with the protection of investors and the public interest; 
provided the self-regulatory organization has given the Commission 
written notice of its 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 Exchange has requested that the Commission waive the 30-day 
operative delay. The Commission believes that waiving the 30-day 
operative delay is consistent with the protection of investors and the 
public interest. The Commission notes that the Correlix service and 
fees sought to be codified here have already been approved by the 
Commission, and that accelerated approval of the flexible initial trial 
period will ensure that the free period is made available to all 
interested parties without delay. Accordingly, the Commission 
designates the proposed rule change operative upon filing with the 
Commission.\9\
---------------------------------------------------------------------------

    \9\ For the 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. 
78(c)(f).
---------------------------------------------------------------------------

    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.

[[Page 68387]]

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-2010-140 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-2010-140. This 
file number should be included on the subject line if e-mail is used. 
To help the Commission process and review your comments more 
efficiently, please use only one method. The Commission will post all 
comments on the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, 
all written statements with respect to the proposed rule change that 
are filed with the Commission, and all written communications relating 
to the proposed rule change between the Commission and any person, 
other than those that may be withheld from the public in accordance 
with the provisions of 5 U.S.C. 552, will be available for Web site 
viewing and printing in the Commission's Public Reference Room, 100 F 
Street, NE., Washington, DC 20549, on official business days between 
the hours of 10 a.m. and 3 p.m. Copies of such filing also will be 
available for inspection and copying at the principal office of the 
Exchange. All comments received will be posted without change; the 
Commission does not edit personal identifying information from 
submissions. You should submit only information that you wish to make 
available publicly. All submissions should refer to File Number SR-
NASDAQ-2010-140, and should be submitted on or before November 26, 
2010.
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-27943 Filed 11-4-10; 8:45 am]
BILLING CODE 8011-01-P
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