Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing of Proposed Rule Change To Amend Procedure II of the NSCC Rules & Procedures To Modify the Money Tolerance Comparison Provisions for Fixed Income Securities, 76515-76517 [2010-30880]

Download as PDF Federal Register / Vol. 75, No. 235 / Wednesday, December 8, 2010 / Notices Exchange when certain Customer options orders are routed to CBOE 8 as well as when certain Professional options orders are routed to the various destination markets. 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, Market Maker and Professional 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 on December 1, 2010. 2. Statutory Basis jlentini on DSKJ8SOYB1PROD with NOTICES NASDAQ believes that the proposed rule changes are consistent with the provisions of Section 6 of the Act,9 in general, and with Section 6(b)(4) of the Act,10 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 the proposed fees are reasonable because they seek to recoup costs that are incurred by the Exchange when routing Customer orders greater than 99 contracts in NDX, MNX, ETFs, ETNs and HOLDRs to CBOE and also when routing orders designated as Professional to the various destination markets listed herein, on behalf of its members. The Exchange also believes that the proposed fees are equitable because they will be uniformly applied to all Customers and Professionals. NASDAQ is one of nine options markets 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 8 See Securities Exchange Act Release No. 62902 (September 14, 2010), 75 FR 57313 (September 20, 2010) (SR–CBOE–2010–081) (a rule change to assess a transaction fee of $.18 per contract on public customer orders in options on Standard & Poor’s Depositary Receipts, except for orders of 99 contracts or less). 9 15 U.S.C. 78f. 10 15 U.S.C. 78f(b)(4). VerDate Mar<15>2010 18:23 Dec 07, 2010 Jkt 223001 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 11 and paragraph (f)(2) of Rule 19b–4 12 thereunder. 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: 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–NASDAQ–2010–149 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–2010–149. 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 No. SR–NASDAQ– 2010–149 and should be submitted on or before December 29, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.13 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–30833 Filed 12–7–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–63404; File No. SR–NSCC– 2010–16] Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing of Proposed Rule Change To Amend Procedure II of the NSCC Rules & Procedures To Modify the Money Tolerance Comparison Provisions for Fixed Income Securities December 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 November 19, 2010, the National Securities 13 17 11 15 U.S.C. 78s(b)(3)(A)(ii). 12 17 CFR 240.19b–4(f)(2). PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 76515 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 E:\FR\FM\08DEN1.SGM 08DEN1 76516 Federal Register / Vol. 75, No. 235 / Wednesday, December 8, 2010 / Notices Clearing Corporation (‘‘NSCC’’) 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 primarily by NSCC.3 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 purpose of this proposed rule change is to amend Procedure II (‘‘Trade Comparison and Recording Service’’) of the NSCC Rules & Procedures to modify the money tolerance comparison provisions for fixed income securities. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.4 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change jlentini on DSKJ8SOYB1PROD with NOTICES Trade Comparison and Recording Service NSCC provides a Real-Time Trade Matching (‘‘RTTM’’) service for trade input and comparison of corporate bond, municipal bond, and unit investment trust (collectively ‘‘CMU’’) fixed income securities. Matching requires that the two trade counterparties submit certain required trade details to RTTM that either match exactly or fall within predefined parameters. If the trade details are matched within RTTM, a valid and binding contract between the submitting trade parties results. If the purchaser and seller submit trade data that matches in all required aspects except for trade value, NSCC uses the seller’s money (referred to as ‘‘seller’s value’’) as the trade value and deems the trade compared as long as the difference 3 The text of the proposed rule change is attached as Exhibit 5 to NSCC’s filing and is available at https://www.dtcc.com/downloads/legal/rule_filings/ 2010/nscc/2010-16.pdf. 4 The Commission has modified the text of the summaries prepared by NSCC. VerDate Mar<15>2010 18:23 Dec 07, 2010 Jkt 223001 between the seller’s submitted trade value and the buyer’s submitted trade value falls within prescribed dollar values as more fully described below. Currently, Procedure II of NSCC’s Rules & Procedures provides two scenarios in which trades are compared using the seller’s value. In the first scenario, NSCC will use the seller’s value to match a trade submitted prior to the cut-off time for intraday comparison if the respective trade parties have submitted contract amounts that are within (1) a net $2 difference for trades of $1 million or less and (2) $2 per million for trades greater than $1 million. In the second scenario, NSCC will also use the seller’s value during the end-of-day enhanced comparison process to match a trade that remained uncompared after the intraday comparison process if the contract amounts are within (i) a net $10.00 difference for trades of $100,000 or less and (ii) $.10 per $1,000 for trades greater than $100,000. Proposed Amendments to NSCC Procedure II Since the establishment of these CMU money tolerance amounts in 1995, member firms have significantly improved the timing and accuracy of fixed income trade reporting. In 2005, the Municipal Securities Rulemaking Board (‘‘MSRB’’) instituted a requirement that firms report trades in municipal securities to the RTTM engine within 15 minutes. This, in turn, required member firms to improve their reporting accuracy and technology. As a result, RTTM is matching a greater percentage of CMU trades upon initial trade input from the buyer and seller. NSCC believes that because of these improvements, the current money tolerance is wider than needed. NSCC believes that best practices dictates that the money tolerance be modified to reflect current business conditions. Accordingly, NSCC is proposing to amend the CMU money tolerance for the second scenario in which trades are compared using the seller’s value. Transactions that remain uncompared after the intraday comparison process shall be deemed compared during the end-of-day enhanced comparison process if the seller’s value has a net $10.00 difference for trades of $250,000 or less and $0.04 per $1,000 for trades greater than $250,000. NSCC members will be advised of the implementation date through the issuance of an NSCC Important Notice. Section 17A(b)(3)(F) of the Act requires, among other things, that the rules of a clearing agency be designed to promote the prompt and accurate PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 clearance and settlement of securities transactions.5 The proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to NSCC because it should enhance the efficiency of NSCC’s clearance and settlement processes and should therefore better enable NSCC to facilitate the prompt and accurate clearance and settlement of securities transactions. (B) Self-Regulatory Organization’s Statement on Burden on Competition NSCC does not believe that the proposed rule change would impose any burden on competition. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments relating to the proposed rule change have not been solicited or received. NSCC will notify the Commission of any written comments received by NSCC. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within forty-five days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to ninety days of such date 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–NSCC–2010–16 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, 5 15 E:\FR\FM\08DEN1.SGM U.S.C. 78q–1(b)(3)(F). 08DEN1 Federal Register / Vol. 75, No. 235 / Wednesday, December 8, 2010 / Notices Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NSCC–2010–16. 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 Section, 100 F Street, NE., Washington, DC 20549–1090, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filings will also be available for inspection and copying at the principal office of NSCC and on NSCC’s Web site at https://www. dtcc.com/downloads/legal/rule_filings/ 2010/nscc/2010-16.pdf. 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–NSCC– 2010–16 and should be submitted on or before December 29, 2010. For the Commission by the Division of Trading and Markets, pursuant to delegated authority.6 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–30880 Filed 12–7–10; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION Data Collection Available for Public Comments and Recommendations Notice and request for comments. jlentini on DSKJ8SOYB1PROD with NOTICES ACTION: 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: 6 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 18:23 Dec 07, 2010 Jkt 223001 Submit comments on or before February 7, 2011. ADDRESSES: Send all comments regarding whether this information collection is necessary for the proper performance of the function of the agency, whether the burden estimates are accurate, and if there are ways to minimize the estimated burden and enhance the quality of the collection, to Gail Hepler, Chief 7(a) Program Branch, Office of Financial Assistance, Small Business Administration, 409 3rd Street, 8th Floor, Washington, DC 20416. FOR FURTHER INFORMATION CONTACT: Gail Hepler, Chief 7(a) Program Branch, Office of Financial Assistance, 202– 205–7530, Curtis B. Rich, Management Analyst, 202–205–7030, curtis.rich@sba.gov. SUPPLEMENTARY INFORMATION: This form is used to assist homeowners (20% or greater owners, corporate officers, or has guarantors) in preparing their total net worth by listing all of their assets and liabilities, including current income. Title: ‘‘Personal Financial Statement.’’ Description of Respondents: SBA participating Guaranty Agreement. Form Number: 413. Annual Responses: 91,937. Annual Burden: 137,095. DATES: Jacqueline White, Chief, Administrative Information Branch. 76517 A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for Private Non-Profit organizations in the Commonwealth of Puerto Rico, dated 10/26/2010, is hereby amended to include the following areas as adversely affected by the disaster. Primary Municipalities: Cayey, Ciales, Corozal, San Lorenzo. All other information in the original declaration remains unchanged. FOR FURTHER INFORMATION CONTACT: (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Roger B. Garland, Acting Associate Administrator for Disaster Assistance. [FR Doc. 2010–30837 Filed 12–7–10; 8:45 am] BILLING CODE 8025–01–P DEPARTMENT OF TRANSPORTATION Federal Transit Administration [FTA Docket No. 2010–0043] Agency Information Collection Activity under OMB Review AGENCY: [FR Doc. 2010–30835 Filed 12–7–10; 8:45 am] BILLING CODE 8025–01–P ACTION: Federal Transit Administration, DOT. Notice of request for comments. The Federal Transit Administration invites public comment about our intention to request the Office of Management and Budget’s (OMB) approval to renew the following information collection: Pre-Award and Post-Delivery Review Requirements. The information collected on the certification forms is necessary for FTA’s grantees to meet the requirements of 49 U.S.C. Section 5323(m). The Federal Register notice with a 60-day comment period soliciting comments was published on September 2, 2010. DATES: Comments must be submitted before January 7, 2011. A comment to OMB is most effective if OMB receives it within 30 days of publication. FOR FURTHER INFORMATION CONTACT: Sylvia L. Marion, Office of Administration, Office of Management Planning, (202) 366–6680. SUPPLEMENTARY INFORMATION: Title: Pre-Award and Post-Delivery Review Requirements. Abstract: Under the Federal Transit Laws, at 49 U.S.C. 5323(m), grantees must certify that Pre-Award and PostDelivery Reviews will be conducted SUMMARY: SMALL BUSINESS ADMINISTRATION [Disaster Declaration #12368 and #12369] Puerto Rico Disaster Number PR– 00012 U.S. Small Business Administration. ACTION: Amendment 2. AGENCY: This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the Commonwealth of Puerto Rico (FEMA–1946–DR), dated 10/26/2010. Incident: Severe Storms, Flooding, Mudslides, and Landslides associated with Tropical Storm Otto. Incident Period: 10/04/2010 through 10/08/2010. Effective Date: 11/29/2010. Physical Loan Application Deadline Date: 12/27/2010. Economic Injury (EIDL) Loan Application Deadline Date: 07/26/2011. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing And Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. SUMMARY: PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 E:\FR\FM\08DEN1.SGM 08DEN1

Agencies

[Federal Register Volume 75, Number 235 (Wednesday, December 8, 2010)]
[Notices]
[Pages 76515-76517]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-30880]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63404; File No. SR-NSCC-2010-16]


Self-Regulatory Organizations; National Securities Clearing 
Corporation; Notice of Filing of Proposed Rule Change To Amend 
Procedure II of the NSCC Rules & Procedures To Modify the Money 
Tolerance Comparison Provisions for Fixed Income Securities

December 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 November 19, 2010, the National Securities

[[Page 76516]]

Clearing Corporation (``NSCC'') 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 primarily by 
NSCC.\3\ 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.
    \3\ The text of the proposed rule change is attached as Exhibit 
5 to NSCC's filing and is available at https://www.dtcc.com/downloads/legal/rule_filings/2010/nscc/2010-16.pdf.
---------------------------------------------------------------------------

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

    The purpose of this proposed rule change is to amend Procedure II 
(``Trade Comparison and Recording Service'') of the NSCC Rules & 
Procedures to modify the money tolerance comparison provisions for 
fixed income securities.

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

    In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of these 
statements.\4\
---------------------------------------------------------------------------

    \4\ The Commission has modified the text of the summaries 
prepared by NSCC.
---------------------------------------------------------------------------

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

Trade Comparison and Recording Service
    NSCC provides a Real-Time Trade Matching (``RTTM'') service for 
trade input and comparison of corporate bond, municipal bond, and unit 
investment trust (collectively ``CMU'') fixed income securities. 
Matching requires that the two trade counterparties submit certain 
required trade details to RTTM that either match exactly or fall within 
predefined parameters. If the trade details are matched within RTTM, a 
valid and binding contract between the submitting trade parties 
results. If the purchaser and seller submit trade data that matches in 
all required aspects except for trade value, NSCC uses the seller's 
money (referred to as ``seller's value'') as the trade value and deems 
the trade compared as long as the difference between the seller's 
submitted trade value and the buyer's submitted trade value falls 
within prescribed dollar values as more fully described below.
    Currently, Procedure II of NSCC's Rules & Procedures provides two 
scenarios in which trades are compared using the seller's value. In the 
first scenario, NSCC will use the seller's value to match a trade 
submitted prior to the cut-off time for intraday comparison if the 
respective trade parties have submitted contract amounts that are 
within (1) a net $2 difference for trades of $1 million or less and (2) 
$2 per million for trades greater than $1 million. In the second 
scenario, NSCC will also use the seller's value during the end-of-day 
enhanced comparison process to match a trade that remained uncompared 
after the intraday comparison process if the contract amounts are 
within (i) a net $10.00 difference for trades of $100,000 or less and 
(ii) $.10 per $1,000 for trades greater than $100,000.
Proposed Amendments to NSCC Procedure II
    Since the establishment of these CMU money tolerance amounts in 
1995, member firms have significantly improved the timing and accuracy 
of fixed income trade reporting. In 2005, the Municipal Securities 
Rulemaking Board (``MSRB'') instituted a requirement that firms report 
trades in municipal securities to the RTTM engine within 15 minutes. 
This, in turn, required member firms to improve their reporting 
accuracy and technology. As a result, RTTM is matching a greater 
percentage of CMU trades upon initial trade input from the buyer and 
seller.
    NSCC believes that because of these improvements, the current money 
tolerance is wider than needed. NSCC believes that best practices 
dictates that the money tolerance be modified to reflect current 
business conditions. Accordingly, NSCC is proposing to amend the CMU 
money tolerance for the second scenario in which trades are compared 
using the seller's value. Transactions that remain uncompared after the 
intraday comparison process shall be deemed compared during the end-of-
day enhanced comparison process if the seller's value has a net $10.00 
difference for trades of $250,000 or less and $0.04 per $1,000 for 
trades greater than $250,000. NSCC members will be advised of the 
implementation date through the issuance of an NSCC Important Notice.
    Section 17A(b)(3)(F) of the Act requires, among other things, that 
the rules of a clearing agency be designed to promote the prompt and 
accurate clearance and settlement of securities transactions.\5\ The 
proposed rule change is consistent with the requirements of the Act and 
the rules and regulations thereunder applicable to NSCC because it 
should enhance the efficiency of NSCC's clearance and settlement 
processes and should therefore better enable NSCC to facilitate the 
prompt and accurate clearance and settlement of securities 
transactions.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    NSCC does not believe that the proposed rule change would impose 
any burden on competition.

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

    Written comments relating to the proposed rule change have not been 
solicited or received. NSCC will notify the Commission of any written 
comments received by NSCC.

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

    Within forty-five days of the date of publication of this notice in 
the Federal Register or within such longer period (i) as the Commission 
may designate up to ninety days of such date 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-NSCC-2010-16 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary,

[[Page 76517]]

Securities and Exchange Commission, 100 F Street, NE., Washington, DC 
20549-1090.

All submissions should refer to File Number SR-NSCC-2010-16. 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 Section, 100 F Street, 
NE., Washington, DC 20549-1090, on official business days between the 
hours of 10 a.m. and 3 p.m. Copies of such filings will also be 
available for inspection and copying at the principal office of NSCC 
and on NSCC's Web site at https://www.dtcc.com/downloads/legal/rule_filings/2010/nscc/2010-16.pdf. 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-NSCC-2010-16 and should be submitted on or before 
December 29, 2010.

    For the Commission by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-30880 Filed 12-7-10; 8:45 am]
BILLING CODE 8011-01-P
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