Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Fees for Direct Access to Exchange Data, 77022-77024 [2010-31099]
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Federal Register / Vol. 75, No. 237 / Friday, December 10, 2010 / Notices
clearing firms by OCC on behalf of the
Exchange.
The ORF is designed to recover a
portion of the costs to the Exchange of
the supervision and regulation of its
members, including performing routine
surveillances, investigations,
examinations, financial monitoring, and
policy, rulemaking, interpretive, and
enforcement activities. The Exchange
believes that revenue generated from the
ORF, when combined with all of the
Exchange’s other regulatory fees, will
cover a material portion, but not all, of
the Exchange’s regulatory costs. The
Exchange will continue to monitor the
amount of revenue collected from the
ORF to ensure that it, in combination
with its other regulatory fees and fines,
do not exceed regulatory costs. If the
Exchange determines regulatory
revenues exceed regulatory costs, the
Exchange will adjust the ORF by
submitting a fee change filing to the
Commission.
While changes to the Fee Schedule
pursuant to this proposal are effective
upon filing, the Exchange has
designated these changes to be operative
on January 3, 2011.
2. Statutory Basis
The Exchange believes that its
proposal to amend its schedule of fees
is consistent with Section 6(b) of the
Act 5 in general, and furthers the
objectives of Section 6(b)(4) of the Act 6
in particular, in that it is an equitable
allocation of reasonable fees and other
charges among Exchange members. The
Exchange believes that the fee change is
reasonable because the Exchange desires
to recoup its regulatory expenses while
also ensuring that the revenue collected
from the ORF does not exceed
regulatory costs. The Exchange believes
that this fee proposal is equitable
because the increase of the ORF to
$0.0035 per contract would uniformly
apply to all market participants who are
being assessed the ORF.
mstockstill on DSKH9S0YB1PROD with NOTICES
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 7 and paragraph
(f)(2) of Rule 19b–4 8 thereunder. At any
time within 60 days of the filing of such
proposed rule change, the Commission
summarily may temporarily suspend
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form https://www.sec.gov/
rules/sro.shtml; or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–Phlx–2010–166 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–Phlx–2010–166. 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–Phlx–2010–
166 and should be submitted on or
before January 3, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–31096 Filed 12–9–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63441; File No. SR–
NASDAQ–2010–152]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Fees for Direct Access to Exchange
Data
December 6, 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
24, 2010, The NASDAQ Stock Market
LLC (‘‘NASDAQ’’ or the ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the selfregulatory organization. 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
NASDAQ proposes an amendment to
the fee schedule to assess ‘‘direct access’’
fees on certain customers receiving
NASDAQ data within NASDAQ’s colocation facility. The rule filing also
deletes outdated dated verbiage in the
fee schedule to eliminate confusion
regarding application of the fees.
NASDAQ will implement the proposed
change on December 1, 2010. The text
9 17
5 15
U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(4).
VerDate Mar<15>2010
18:39 Dec 09, 2010
7 15
U.S.C. 78s(b)(3)(A)(ii).
8 17 CFR 240.19b–4(f)(2).
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CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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Federal Register / Vol. 75, No. 237 / Friday, December 10, 2010 / Notices
of the proposed rule change is available
at https://nasdaq.cchwallstreet.com/, at
NASDAQ’s principal office, 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,
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
mstockstill on DSKH9S0YB1PROD with NOTICES
1. Purpose
NASDAQ is amending its fee
schedule to correct an anomaly that
effectively exempts certain customers
residing within NASDAQ’s co-location
facility from paying a monthly fee for
direct access to NASDAQ data, while
customers that receive data from an
extranet and reside outside the colocation facility are assessed the fee.
The inequity is a result of the definition
of ‘‘direct access’’ in the fee schedule,
which does not by its terms clearly
apply to data feeds provided to
customers through distributors located
within the co-located facility. This rule
filing will expand the definition of
‘‘direct access’’ and thereby operate to
assess the same fee on all firms that
have access to NASDAQ’s raw data
feeds, whether co-located or not. It will
also delete terms that are obsolete or
generally limiting, given the evolution
of technologies and systems through
which data may be accessed.
NASDAQ, like other data providers,
assesses fees for its real time market
data. In general, a customer that receives
a data feed directly from the Exchange
is assessed a ‘‘direct access’’ fee. If the
customer then distributes the data, it is
a ‘‘distributor’’ as defined under the fee
schedule and pays an ‘‘internal’’ or
‘‘external’’ distributor fee, depending
upon whether it distributes the data
internally or externally. A ‘‘distributor’’
is broadly defined to include any entity
that distributes NASDAQ’s data,
whether it receives the data feed
directly from NASDAQ or indirectly
through another entity. Distributor fees
apply to distributors located within the
VerDate Mar<15>2010
18:39 Dec 09, 2010
Jkt 223001
Exchange’s co-location facility as well
as those outside of it.
The definition of what constitutes
‘‘direct access,’’ however, is limited to
specific types of communications
connections, and does not currently
include the systems by which data is
delivered through distributors located
within the co-location facility to their
customers also located within the colocation facility. As a result, the
distributor’s customers in the colocation facility are not charged a direct
access fee, even though they receive
NASDAQ’s data in its raw data format
and have the same low latency data
access as non-co-located extranet
customers that pay the Direct Access
fee.
To correct this disparity, this rule
filing will include within the definition
of ‘‘direct access’’ the receipt of
NASDAQ data within the co-location
facility. It will also delete terms that,
while describing various means by
which data is currently accessed, do not
clearly or adequately describe all viable
technological means of accessing data.
For example, reference to ‘‘the MCI
Financial Extranet’’ is deleted because
MCI has become ‘‘Verizon,’’ and Verizon
no longer has special status among
extranets as it did when the current rule
was written. The terms ‘‘Nasdaqoperated Web site, system or
application’’ are also deleted, as they are
limiting terms that do not clearly
encompass potential technological
means of accessing NASDAQ data.
Their elimination does not impact the
fees of any customer currently assessed
a Direct Access fee, but should preclude
the need for future rule changes to the
definition of direct access, as the means
by which those same customers access
data evolve over time.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,3
in general, and with Sections 6(b)(5) of
the Act,4 in particular. 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. The filing permits
transparent, uniform fees for direct
access to Exchange data for all
customers, whether co-located or not.
In addition, 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)(4) of the Act,6 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 amendment
corrects an anomaly that effectively
exempts certain co-located customers
receiving the data from paying a direct
access fee.
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.
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 foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.7 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:
5 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
7 15 U.S.C. 78s(b)(3)(a)(ii).
3 15
U.S.C. 78f.
4 15 U.S.C. 78f(b)(5).
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77023
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77024
Federal Register / Vol. 75, No. 237 / Friday, December 10, 2010 / Notices
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–2010–152 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.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63444; File No. SR–NYSE–
2010–74]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing of Proposed Rule Change To
Create a Bond Trading License for
Member Organizations and Establish
Bonds Liquidity Providers as a New
Market Class on NYSE Under a Pilot
Program
December 6, 2010.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
All submissions should refer to File
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
Number SR–NASDAQ–2010–152. This
notice is hereby given that, on
file number should be included on the
November 23, 2010, New York Stock
subject line if e-mail is used. To help the Exchange LLC (‘‘NYSE’’ or the
Commission process and review your
‘‘Exchange’’) filed with the Securities
comments more efficiently, please use
and Exchange Commission (the
only one method. The Commission will ‘‘Commission’’) the proposed rule
post all comments on the Commission’s change as described in Items I, II, and
III below, which Items have been
Internet Web site (https://www.sec.gov/
prepared by the self-regulatory
rules/sro.shtml). Copies of the
organization. The Commission is
submission, all subsequent
publishing this notice to solicit
amendments, all written statements
comments on the proposed rule change
with respect to the proposed rule
from interested persons.
change that are filed with the
Commission, and all written
I. Self-Regulatory Organization’s
communications relating to the
Statement of the Terms of Substance of
proposed rule change between the
the Proposed Rule Change
Commission and any person, other than
The Exchange proposes to establish a
those that may be withheld from the
twelve-month pilot program to: (1)
public in accordance with the
Create a bond trading license for
provisions of 5 U.S.C. 552, will be
member organizations that desire to
available for Web site viewing and
trade only debt securities on the
printing in the Commission’s Public
Exchange; and (2) establish a new class
Reference Room, 100 F Street, NE.,
of NYSE market participants, ‘‘Bonds
Washington, DC 20549, on official
Liquidity Providers’’ (‘‘BLPs’’). The text
business days between the hours of 10
of the proposed rule change is available
a.m. and 3 p.m. Copies of such filing
at the Exchange, the Commission’s
also will be available for inspection and Public Reference Room, and https://
copying at the principal office of the
www.nyse.com.
Exchange. All comments received will
II. Self-Regulatory Organization’s
be posted without change; the
Statement of the Purpose of, and
Commission does not edit personal
Statutory Basis for, the Proposed Rule
identifying information from
Change
submissions. You should submit only
In its filing with the Commission, the
information that you wish to make
self-regulatory organization included
available publicly. All submissions
statements concerning the purpose of,
should refer to File Number SR–
and basis for, the proposed rule change
NASDAQ–2010–152 and should be
and discussed any comments it received
submitted on or before January 3, 2011.
on the proposed rule change. The text
For the Commission, by the Division of
of those statements may be examined at
Trading and Markets, pursuant to delegated
the places specified in Item IV below.
authority.8
The Exchange has prepared summaries,
Florence E. Harmon,
set forth in sections A, B, and C below,
of the most significant parts of such
Deputy Secretary.
statements.
[FR Doc. 2010–31099 Filed 12–9–10; 8:45 am]
BILLING CODE 8011–01–P
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
8 17
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
18:39 Dec 09, 2010
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A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
NYSE proposes a twelve-month pilot
program to: (1) Adopt new Rule 87 to
create a bond trading license for
member organizations that desire to
trade only debt securities on the NYSE;
and (2) adopt new Rule 88 to establish
BLPs, a new class of debt market
participants, and provide them with
financial incentives for bringing
liquidity to the Exchange’s bond market.
The purpose of the proposed rule
change is to encourage market
participants to bring additional liquidity
to the Exchange’s bond marketplace.
Background on the Current NYSE Bond
Trading Platform
The Exchange began trading bonds
electronically in 1977 with the
introduction of the Automated Bond
System (‘‘ABS’’). In 2007, the Exchange
retired the ABS system, moved the
platform to its Archipelago technology,
and replaced former Rule 86
(‘‘Automated Bond System’’) with new
Rule 86 (‘‘NYSE Bonds’’).4 The Exchange
also filed Rules 1400 and 1401,
expanding the number of debt issues
that could be traded on the exchange.
Bonds eligible to trade on the NYSE
Bonds platform include any debt
instrument that is listed on the NYSE
and any corporate debt of a listed
company of the Exchange.
Despite these changes, the Exchange
has failed to attract meaningful trading
volume. The NYSE Bonds platform
executes between 0 and 20 trades per
day, with an average sized trade of 20
bonds. Currently, there are no incentive
programs in place to provide liquidity to
NYSE Bonds. The Exchange believes
that the pilot incentive programs
proposed in this filing will attract
providers to NYSE Bonds and create
more liquidity and transparency in the
retail corporate bond market.
Bond Trading License
The Exchange proposes to establish a
new bonds-only trading license to
encourage more member organizations
to trade debt securities on the NYSE.5
Currently, an approved member
organization may obtain a trading
license pursuant to Rule 300, which
permits them to trade all debt and
equity securities listed on the Exchange.
4 See Securities Exchange Act Release No. 55496
(March 20, 2007), 72 FR 14631 (March 28, 2007)
(SR–NYSE–2006–37).
5 The NYSE intends to submit a separate fee filing
to address the proposed bond trading license.
E:\FR\FM\10DEN1.SGM
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]]>Agencies
[Federal Register Volume 75, Number 237 (Friday, December 10, 2010)]
[Notices]
[Pages 77022-77024]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-31099]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63441; File No. SR-NASDAQ-2010-152]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to Fees for Direct Access to Exchange Data
December 6, 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 24, 2010, The NASDAQ Stock Market LLC (``NASDAQ'' or the
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. 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
NASDAQ proposes an amendment to the fee schedule to assess ``direct
access'' fees on certain customers receiving NASDAQ data within
NASDAQ's co-location facility. The rule filing also deletes outdated
dated verbiage in the fee schedule to eliminate confusion regarding
application of the fees. NASDAQ will implement the proposed change on
December 1, 2010. The text
[[Page 77023]]
of the proposed rule change is available at https://nasdaq.cchwallstreet.com/, at NASDAQ's principal office, 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, 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.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
NASDAQ is amending its fee schedule to correct an anomaly that
effectively exempts certain customers residing within NASDAQ's co-
location facility from paying a monthly fee for direct access to NASDAQ
data, while customers that receive data from an extranet and reside
outside the co-location facility are assessed the fee. The inequity is
a result of the definition of ``direct access'' in the fee schedule,
which does not by its terms clearly apply to data feeds provided to
customers through distributors located within the co-located facility.
This rule filing will expand the definition of ``direct access'' and
thereby operate to assess the same fee on all firms that have access to
NASDAQ's raw data feeds, whether co-located or not. It will also delete
terms that are obsolete or generally limiting, given the evolution of
technologies and systems through which data may be accessed.
NASDAQ, like other data providers, assesses fees for its real time
market data. In general, a customer that receives a data feed directly
from the Exchange is assessed a ``direct access'' fee. If the customer
then distributes the data, it is a ``distributor'' as defined under the
fee schedule and pays an ``internal'' or ``external'' distributor fee,
depending upon whether it distributes the data internally or
externally. A ``distributor'' is broadly defined to include any entity
that distributes NASDAQ's data, whether it receives the data feed
directly from NASDAQ or indirectly through another entity. Distributor
fees apply to distributors located within the Exchange's co-location
facility as well as those outside of it.
The definition of what constitutes ``direct access,'' however, is
limited to specific types of communications connections, and does not
currently include the systems by which data is delivered through
distributors located within the co-location facility to their customers
also located within the co-location facility. As a result, the
distributor's customers in the co-location facility are not charged a
direct access fee, even though they receive NASDAQ's data in its raw
data format and have the same low latency data access as non-co-located
extranet customers that pay the Direct Access fee.
To correct this disparity, this rule filing will include within the
definition of ``direct access'' the receipt of NASDAQ data within the
co-location facility. It will also delete terms that, while describing
various means by which data is currently accessed, do not clearly or
adequately describe all viable technological means of accessing data.
For example, reference to ``the MCI Financial Extranet'' is deleted
because MCI has become ``Verizon,'' and Verizon no longer has special
status among extranets as it did when the current rule was written. The
terms ``Nasdaq-operated Web site, system or application'' are also
deleted, as they are limiting terms that do not clearly encompass
potential technological means of accessing NASDAQ data. Their
elimination does not impact the fees of any customer currently assessed
a Direct Access fee, but should preclude the need for future rule
changes to the definition of direct access, as the means by which those
same customers access data evolve over time.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\3\ in general, and with
Sections 6(b)(5) of the Act,\4\ in particular. 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. The filing permits
transparent, uniform fees for direct access to Exchange data for all
customers, whether co-located or not.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 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,\5\ in general,
and with Section 6(b)(4) of the Act,\6\ 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 amendment corrects an anomaly
that effectively exempts certain co-located customers receiving the
data from paying a direct access fee.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f.
\6\ 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.
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 foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\7\ 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.
---------------------------------------------------------------------------
\7\ 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:
[[Page 77024]]
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-2010-152 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-2010-152. 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-2010-152 and should be submitted on or before January 3, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-31099 Filed 12-9-10; 8:45 am]
BILLING CODE 8011-01-P
