Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Offer Additional Routing Option, 9397-9399 [2011-3645]

Download as PDF Federal Register / Vol. 76, No. 33 / Thursday, February 17, 2011 / Notices Electronic Comments 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 • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NASDAQ–2011–023 on the subject line. Paper Comments Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The Exchange has filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 11 and Rule 19b–4(f)(6) thereunder.12 Because the proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative prior to 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 13 and Rule 19b–4(f)(6) thereunder.14 At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: 11 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 13 15 U.S.C. 78s(b)(3)(A). 14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange’s intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. jlentini on DSKJ8SOYB1PROD with NOTICES 12 17 VerDate Mar<15>2010 16:38 Feb 16, 2011 Jkt 223001 • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. 9397 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–63900; File No. SR– NASDAQ–2011–026] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Offer Additional Routing Option February 14, 2011. 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 February All submissions should refer to File 10, 2011, The NASDAQ Stock Market Number SR–NASDAQ–2011–023. This LLC (‘‘NASDAQ’’ or the ‘‘Exchange’’) file number should be included on the filed with the Securities and Exchange subject line if e-mail is used. To help the Commission (‘‘Commission’’) the Commission process and review your proposed rule change as described in comments more efficiently, please use Items I and II below, which Items have only one method. The Commission will been prepared by the Exchange. post all comments on the Commission’s NASDAQ has designated the proposed Internet Web site (http://www.sec.gov/ rule change as constituting a rule rules/sro.shtml). Copies of the change under Rule 19b–4(f)(6) under the submission, all subsequent Act,3 which renders the proposal amendments, all written statements effective upon filing with the with respect to the proposed rule Commission. The Commission is change that are filed with the publishing this notice to solicit Commission, and all written comments on the proposed rule change communications relating to the from interested persons. proposed rule change between the Commission and any person, other than I. Self-Regulatory Organization’s Statement of the Terms of Substance of those that may be withheld from the the Proposed Rule Change public in accordance with the provisions of 5 U.S.C. 552, will be The Exchange is filing this proposed available for Web site viewing and rule change to offer an additional printing in the Commission’s Public routing option. NASDAQ proposes to Reference Room, 100 F Street, NE., implement the proposed rule change on Washington, DC 20549, on official February 22, 2011 or as soon thereafter business days between the hours of 10 as practicable. The text of the proposed a.m. and 3 p.m. Copies of the filing also rule change is available at http:// will be available for inspection and nasdaq.cchwallstreet.com/, at copying at the principal office of the NASDAQ’s principal office, and at the 15 All comments received will Exchange. Commission’s Public Reference Room. be posted without change; the II. Self-Regulatory Organization’s Commission does not edit personal Statement of the Purpose of, and identifying information from Statutory Basis for, the Proposed Rule submissions. You should submit only Change information that you wish to make available publicly. All submissions In its filing with the Commission, the should refer to File Number SR– Exchange included statements NASDAQ–2011–023 and should be concerning the purpose of and basis for submitted on or before March 10, 2011. the proposed rule change and discussed For the Commission, by the Division of any comments it received on the Trading and Markets, pursuant to delegated proposed rule change. The text of these authority.16 statements may be examined at the Cathy H. Ahn, places specified in Item IV below. The Exchange has prepared summaries, set Deputy Secretary. forth in Sections A, B, and C below, of [FR Doc. 2011–3584 Filed 2–16–11; 8:45 am] the most significant aspects of such BILLING CODE 8011–01–P statements. 15 The text of the proposed rule change is available on the Commission’s Web site at http:// www.sec.gov. 16 17 CFR 200.30–3(a)(12). PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 17 CFR 240.19b–4(f)(6). 2 17 E:\FR\FM\17FEN1.SGM 17FEN1 9398 Federal Register / Vol. 76, No. 33 / Thursday, February 17, 2011 / Notices A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change jlentini on DSKJ8SOYB1PROD with NOTICES 1. Purpose NASDAQ is amending Rule 4758, which describes its order routing processes, to add the new CART routing option. Under this routing option, the use of which is wholly voluntary, a market participant may specify that an order will route to NASDAQ OMX BX (‘‘BX’’) and NASDAQ OMX PSX (‘‘PSX’’) and then check the NASDAQ book, with any unexecuted shares posting to the NASDAQ book or cancelling, depending on the time-in-force of the order. Shares posted to the NASDAQ book are not routed out again. CART, like of all of NASDAQ’s routing strategies, is designed to comply with the SEC Rule 611 and the other provisions of Regulation NMS.4 The rule change also introduces fees for the CART strategy. With respect to orders executed in BX or PSX, NASDAQ will pass along the applicable fee or rebate. In the case of BX, this means that NASDAQ passes through the $0.0014 per share executed credit paid by BX to market participants when accessing liquidity, and in the case of PSX, NASDAQ passes through the fee of $0.0025 per share executed charged by PSX to market participants when accessing liquidity. CART orders that access liquidity at NASDAQ will pay the standard NASDAQ take rate of $0.0030 per share executed, and CART orders that provide liquidity after posting to the NASDAQ book will receive the rebate for which the market participant otherwise qualifies under NASDAQ’s fee schedule. 2. Statutory Basis NASDAQ believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,5 in general, and with Sections 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. The Exchange believes CFR 242.611. U.S.C. 78f. 6 15 U.S.C. 78f(b)(5). that the proposed routing option will accomplish those ends by providing market participants with an additional voluntary routing option that will enable them easily to access liquidity available on all of the national securities exchanges operated by The NASDAQ OMX Group. NASDAQ expects the routing strategy will benefit firms that do not employ high-frequency trading strategies under which the firm itself would rapidly access liquidity provided on the multiple venues. The rule change is also consistent with Section 6 of the Act,7 in general, and with Sections 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 NASDAQ operates or controls. The fees assessed for CART for routing to BX and PSX are the same as the fees and rebates that are charged and offered to NASDAQ by these exchanges, and the fees associated with accessing or providing liquidity on NASDAQ through the strategy are the same as the fees and rebates applicable to orders that access NASDAQ without using the strategy. Use of the routing option is voluntary. 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. NASDAQ provides routing services in a highly competitive market in which participants may avail themselves of a wide variety of routing options offered by self-regulatory organizations, alternative trading systems, other broker-dealers, market participants’ own proprietary routing systems, and service bureaus. In such an environment, system enhancements such as the changes proposed in this rule filing do not burden competition, because they can succeed in attracting order flow to NASDAQ only if they offer investors higher quality and better value than services offered by others. Encouraging competitors to provide higher quality and better value is the essence of a wellfunctioning competitive marketplace. 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. 4 17 5 15 VerDate Mar<15>2010 16:38 Feb 16, 2011 7 15 8 15 Jkt 223001 PO 00000 U.S.C. 78f. U.S.C. 78f(b)(4). Frm 00080 Fmt 4703 Sfmt 4703 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 9 and Rule 19b– 4(f)(6) thereunder.10 A proposed rule change filed pursuant to Rule 19b–4(f)(6) under the Act 11 normally does not become operative for 30 days after the date of its filing. However, Rule 19b–4(f)(6) 12 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. NASDAQ requests that the Commission waive the 30-day operative delay because it currently has the technological changes ready to support the proposed rule change, and believes that the benefits of greater flexibility that are expected from the rule change should not be delayed. The Commission believes that accelerating the 30-day operative delay 13 is consistent with the protection of investors and the public interest and designates the proposal operative upon filing. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: 9 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6) requires a self-regulatory organization to give the Commission written notice of its intent to file 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. NASDAQ has satisfied this requirement. 11 17 CFR 240.19b–4(f)(6). 12 17 CFR 240.19b–4(f)(6). 13 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 10 17 E:\FR\FM\17FEN1.SGM 17FEN1 Federal Register / Vol. 76, No. 33 / Thursday, February 17, 2011 / Notices Electronic Comments DEPARTMENT OF STATE • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NASDAQ–2011–026 on the subject line. [Public Notice 7321] Paper Comments Department of State FY10 Service Contract Inventory Department of State. Notice of the release of the Department of State FY10 Service Contract Inventory. AGENCY: ACTION: The Department of State has publically released its Service Contract Inventory for FY10. Section 743 of Division C of the FY 2010 Consolidated Appropriations Act, Public Law 111– 117, requires Department of State, and other civilian agencies, to submit an All submissions should refer to File annual inventory of service contracts. A Number SR–NASDAQ–2011–026. This service contract inventory is a tool for file number should be included on the subject line if e-mail is used. To help the assisting an agency in better understanding how contracted services Commission process and review your are being used to support mission and comments more efficiently, please use only one method. The Commission will operation, and whether the contractors’ post all comments on the Commission’s skills are being utilized in an appropriate manner. The Department Internet Web site (http://www.sec.gov/ followed OMB guidance, provided by rules/sro.shtml). Copies of the memorandum titled ‘Service Contract submission,14 all subsequent Inventories’, to prepare the inventory. amendments, all written statements with respect to the proposed rule DATES: The inventory is available on the change that are filed with the Department’s Web site as of Jan 31, Commission, and all written 2011. communications relating to the FOR FURTHER INFORMATION CONTACT: proposed rule change between the Jason Passaro, Director, A/CSM, 703– Commission and any person, other than 875–5114, passaroja@state.gov. those that may be withheld from the Dated: February 3, 2011. public in accordance with the Jason Passaro, provisions of 5 U.S.C. 552, will be Director, A/CSM, Department of State. available for Web site viewing and [FR Doc. 2011–3615 Filed 2–16–11; 8:45 am] printing in the Commission’s Public Reference Room, 100 F Street, NE., BILLING CODE 4710–24–P Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of the filing also DEPARTMENT OF TRANSPORTATION will be available for inspection and ITS Joint Program Office; Pre-Proposal copying at the principal office of the Safety Pilot Joint Bidders Conference; Exchange. All comments received will Notice of Public Meeting be posted without change; the Commission does not edit personal AGENCY: Research and Innovative identifying information from Technology Administration, U.S. submissions. You should submit only Department of Transportation. information that you wish to make ACTION: Notice. publicly available. All submissions should refer to File Number SR– The U.S. Department of NASDAQ–2011–026 and should be Transportation ITS Joint Program Office submitted on or before March 10, 2011. (ITS JPO) is conducting a Pre-proposal jlentini on DSKJ8SOYB1PROD with NOTICES • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Cathy H. Ahn, Deputy Secretary. [FR Doc. 2011–3645 Filed 2–16–11; 8:45 am] BILLING CODE 8011–01–P 14 The text of the proposed rule change is available on the Commission’s Web site at http:// www.sec.gov/rules/sro.shtml. 15 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 16:38 Feb 16, 2011 Jkt 223001 SUMMARY: Conference (‘‘Safety Pilot Joint Bidders Conference’’) on February 22, 2011 from 8:30 a.m. to 4:30 p.m. at the University of California—UC Washington Center, 1608 Rhode Island Avenue, NW., Washington, DC 20036. The conference is for interested parties to learn about and ask questions regarding the three current US DOT procurements/ solicitations listed below in support of the Safety Pilot Program. US DOT officials will present and discuss the PO 00000 Frm 00081 Fmt 4703 Sfmt 4703 9399 procurement process and requirements for each of the three planned procurements, as well as answer relevant questions from interested parties. • Safety Pilot Test Conductor— Request for Proposals (RFP) DTFH61– 11–R–00006 available at http:// www.FedBizOpps.gov. • Aftermarket Safety Devices— Request for Applications (RFA) DTFH61–11–RA–00003 available at http://www.Grants.gov. • Roadside Equipment—Request for Quotations (RFQ) DTFH61–11–Q–00012 available at http:// www.FedBizOpps.gov. The Safety Pilot is intended to establish a real world model deployment test site for enabling wireless communications among vehicles and with roadside equipment for use in generating data to enable driver safety warning systems. The deployment site will encompass vehicles of various types that include a mix of integrated, retrofit, and aftermarket vehicle safety systems. The model deployment data generated will be used for establishing safety benefits in support of future policy decisions by US DOT, as well as for use by the broader industry in developing additional connected vehicle applications. Interested parties are invited to attend in person or participate by webinar. For additional information including registration, please contact Adam Hopps (ahopps@itsa.org) or use the following link: http://www.itsa.org/itsa/files/ safety_pilot_bidders_conference_ registration.doc. Issued in Washington, DC, on the 11th day of February 2011. John Augustine, Managing Director, ITS Joint Program Office. [FR Doc. 2011–3604 Filed 2–16–11; 8:45 am] BILLING CODE 4910–HY–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Agency Information Collection Activities: Requests for Comments; Clearance of Renewed Approval of Information Collection: Aviation Medical Examiner Program Federal Aviation Administration (FAA), DOT. ACTION: Notice and request for comments. AGENCY: In accordance with the Paperwork Reduction Act of 1995, FAA invites public comments about our SUMMARY: E:\FR\FM\17FEN1.SGM 17FEN1

Agencies

[Federal Register Volume 76, Number 33 (Thursday, February 17, 2011)]
[Notices]
[Pages 9397-9399]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-3645]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63900; File No. SR-NASDAQ-2011-026]


 Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Offer Additional Routing Option

February 14, 2011.
    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 February 10, 2011, 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 and 
II below, which Items have been prepared by the Exchange. NASDAQ has 
designated the proposed rule change as constituting a rule change 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is filing this proposed rule change to offer an 
additional routing option. NASDAQ proposes to implement the proposed 
rule change on February 22, 2011 or as soon thereafter as practicable. 
The text of the proposed rule change is available at http://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, the Exchange included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
Sections A, B, and C below, of the most significant aspects of such 
statements.

[[Page 9398]]

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

1. Purpose
    NASDAQ is amending Rule 4758, which describes its order routing 
processes, to add the new CART routing option. Under this routing 
option, the use of which is wholly voluntary, a market participant may 
specify that an order will route to NASDAQ OMX BX (``BX'') and NASDAQ 
OMX PSX (``PSX'') and then check the NASDAQ book, with any unexecuted 
shares posting to the NASDAQ book or cancelling, depending on the time-
in-force of the order. Shares posted to the NASDAQ book are not routed 
out again. CART, like of all of NASDAQ's routing strategies, is 
designed to comply with the SEC Rule 611 and the other provisions of 
Regulation NMS.\4\
---------------------------------------------------------------------------

    \4\ 17 CFR 242.611.
---------------------------------------------------------------------------

    The rule change also introduces fees for the CART strategy. With 
respect to orders executed in BX or PSX, NASDAQ will pass along the 
applicable fee or rebate. In the case of BX, this means that NASDAQ 
passes through the $0.0014 per share executed credit paid by BX to 
market participants when accessing liquidity, and in the case of PSX, 
NASDAQ passes through the fee of $0.0025 per share executed charged by 
PSX to market participants when accessing liquidity. CART orders that 
access liquidity at NASDAQ will pay the standard NASDAQ take rate of 
$0.0030 per share executed, and CART orders that provide liquidity 
after posting to the NASDAQ book will receive the rebate for which the 
market participant otherwise qualifies under NASDAQ's fee schedule.
2. Statutory Basis
    NASDAQ believes that the proposed rule change is consistent with 
the provisions of Section 6 of the Act,\5\ in general, and with 
Sections 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. The Exchange 
believes that the proposed routing option will accomplish those ends by 
providing market participants with an additional voluntary routing 
option that will enable them easily to access liquidity available on 
all of the national securities exchanges operated by The NASDAQ OMX 
Group. NASDAQ expects the routing strategy will benefit firms that do 
not employ high-frequency trading strategies under which the firm 
itself would rapidly access liquidity provided on the multiple venues.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f.
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The rule change is also consistent with Section 6 of the Act,\7\ in 
general, and with Sections 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 NASDAQ operates or controls. The fees assessed 
for CART for routing to BX and PSX are the same as the fees and rebates 
that are charged and offered to NASDAQ by these exchanges, and the fees 
associated with accessing or providing liquidity on NASDAQ through the 
strategy are the same as the fees and rebates applicable to orders that 
access NASDAQ without using the strategy. Use of the routing option is 
voluntary.
---------------------------------------------------------------------------

    \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. NASDAQ provides 
routing services in a highly competitive market in which participants 
may avail themselves of a wide variety of routing options offered by 
self-regulatory organizations, alternative trading systems, other 
broker-dealers, market participants' own proprietary routing systems, 
and service bureaus. In such an environment, system enhancements such 
as the changes proposed in this rule filing do not burden competition, 
because they can succeed in attracting order flow to NASDAQ only if 
they offer investors higher quality and better value than services 
offered by others. Encouraging competitors to provide higher quality 
and better value is the essence of a well-functioning competitive 
marketplace.

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

    Because the foregoing proposed rule change does not: (i) 
Significantly affect the protection of investors or the public 
interest; (ii) impose any significant burden on competition; and (iii) 
become operative for 30 days from the date on which it was filed, or 
such shorter time as the Commission may designate, it has become 
effective pursuant to Section 19(b)(3)(A) of the Act \9\ and Rule 19b-
4(f)(6) thereunder.\10\
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A).
    \10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6) 
requires a self-regulatory organization to give the Commission 
written notice of its intent to file 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. 
NASDAQ has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the 
Act \11\ normally does not become operative for 30 days after the date 
of its filing. However, Rule 19b-4(f)(6) \12\ permits the Commission to 
designate a shorter time if such action is consistent with the 
protection of investors and the public interest. NASDAQ requests that 
the Commission waive the 30-day operative delay because it currently 
has the technological changes ready to support the proposed rule 
change, and believes that the benefits of greater flexibility that are 
expected from the rule change should not be delayed. The Commission 
believes that accelerating the 30-day operative delay \13\ is 
consistent with the protection of investors and the public interest and 
designates the proposal operative upon filing.
---------------------------------------------------------------------------

    \11\ 17 CFR 240.19b-4(f)(6).
    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

[[Page 9399]]

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NASDAQ-2011-026 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-2011-026. 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 (http://www.sec.gov/rules/sro.shtml). Copies of the submission,\14\ all subsequent 
amendments, all written statements with respect to the proposed rule 
change that are filed with the Commission, and all written 
communications relating to the proposed rule change between the 
Commission and any person, other than those that may be withheld from 
the public in accordance with the provisions of 5 U.S.C. 552, will be 
available for Web site viewing and printing in the Commission's Public 
Reference Room, 100 F Street, NE., Washington, DC 20549, on official 
business days between the hours of 10 a.m. and 3 p.m. Copies of the 
filing also will be available for inspection and copying at the 
principal office of the Exchange. All comments received will be posted 
without change; the Commission does not edit personal identifying 
information from submissions. You should submit only information that 
you wish to make publicly available. All submissions should refer to 
File Number SR-NASDAQ-2011-026 and should be submitted on or before 
March 10, 2011.
---------------------------------------------------------------------------

    \14\ The text of the proposed rule change is available on the 
Commission's Web site at http://www.sec.gov/rules/sro.shtml.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
---------------------------------------------------------------------------

    \15\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-3645 Filed 2-16-11; 8:45 am]
BILLING CODE 8011-01-P