Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Cease Operating NYSE MatchPoint Effective February 28, 2011 and Contemporaneously Delete the Text of Rule 1500, Which Governs MatchPoint's Functionality, 9616-9618 [2011-3646]
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WReier-Aviles on DSKGBLS3C1PROD with NOTICES
9616
Federal Register / Vol. 76, No. 34 / Friday, February 18, 2011 / Notices
Retirement Board (RRB) is forwarding
an Information Collection Request (ICR)
to the Office of Information and
Regulatory Affairs (OIRA), Office of
Management and Budget (OMB) to
request an extension without change of
a currently approved collection of
information: 3220–0185, Report of
Medicaid State Office on Beneficiary’s
Buy-In Status consisting of Form RL–
380–F, Report to State Medicaid Office.
Our ICR describes the information we
seek to collect from the public. Review
and approval by OIRA ensures that we
impose appropriate paperwork burdens.
The RRB invites comments on the
proposed collection of information to
determine (1) The practical utility of the
collection; (2) the accuracy of the
estimated burden of the collection; (3)
ways to enhance the quality, utility and
clarity of the information that is the
subject of collection; and (4) ways to
minimize the burden of collections on
respondents, including the use of
automated collection techniques or
other forms of information technology.
Comments to RRB or OIRA must contain
the OMB control number of the ICR. For
proper consideration of your comments,
it is best if RRB and OIRA receive them
within 30 days of publication date.
Under Section 7(d) of the Railroad
Retirement Act, the RRB administers the
Medicare program for persons covered
by the railroad retirement system. Under
Section 1843 of the Social Security Act,
states may enter into ‘‘buy-in
agreements’’ with the Secretary of
Health and Human Services for the
purpose of enrolling certain groups of
low-income individuals under the
Medicare medical insurance (Part B)
program and paying the premiums for
their insurance coverage. Generally,
these individuals are categorically
needy under Medicaid and meet the
eligibility requirements for Medicare
Part B. States can also include in their
buy-in agreements, individuals who are
eligible for medical assistance only. The
RRB uses Form RL–380–F, Report to
State Medicaid Office, to obtain
information needed to determine if
certain railroad beneficiaries are entitled
to receive Supplementary Medical
Insurance program coverage under a
State buy-in agreement in States in
which they reside. Completion of Form
RL–380–F is voluntary. One response is
received from each respondent.
The RRB proposes no changes to
Form RL–380–F.
Previous Requests for Comments: The
RRB has already published the initial
60-day notice (72 FR 57078 on
December 17, 2010) required by 44
U.S.C. 3506(c)(2). That request elicited
no comments.
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13:57 Feb 17, 2011
Jkt 223001
Information Collection Request (ICR)
Title: Report of Medicaid State Office
on Beneficiary’s Buy-In Status.
OMB Control Number: 3220–0185.
Form(s) submitted: RL–380–F.
Type of request: An extension without
change of a currently approved
collection.
Affected public: State, local or Tribal
government.
Abstract: Under the Railroad
Retirement Act, the Railroad Retirement
Board administers the Medicare
program for persons covered by the
railroad retirement system. The
collection obtains the information
needed to determine if certain railroad
beneficiaries are entitled to receive
Supplementary Medical Insurance
program coverage under a State buy-in
agreement in States in which they
reside.
Changes Proposed: The RRB proposes
no changes to Form RL–380–F.
The burden estimate for the ICR is as
follows:
Estimated Completion Time for
Form(s): Completion time for Form RL–
380–F is estimated at 10 minutes.
Estimated annual number of
respondents: 600.
Total annual responses: 600.
Total annual reporting hours: 100.
Additional Information or Comments:
Copies of the forms and supporting
documents can be obtained from
Charles Mierzwa, the agency clearance
officer (312–751–3363) or
Charles.Mierzwa@rrb.gov.
Comments regarding the information
collection should be sent to Patricia A.
Henaghan, Railroad Retirement Board,
844 North Rush Street, Chicago, Illinois
60611–2092 or
Patricia.Henaghan@rrb.gov and to the
Office of Management Budget at ATTN:
Desk Officer for RRB, FAX: (202) 395–
6974 or via E-mail to
OIRA_Submission@omb.eop.gov.
Charles Mierzwa,
Clearance Officer.
[FR Doc. 2011–3715 Filed 2–17–11; 8:45 am]
BILLING CODE 7905–01–P
PO 00000
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63898; File No. SR–NYSE–
2011–03]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Cease
Operating NYSE MatchPoint Effective
February 28, 2011 and
Contemporaneously Delete the Text of
Rule 1500, Which Governs
MatchPoint’s Functionality
February 11, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 1, and Rule 19b–4 thereunder,2
notice is hereby given that on February
7, 2011, New York Stock Exchange LLC
(‘‘NYSE’’ or the ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I and II, 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to cease
operating NYSE MatchPointSM
(‘‘MatchPoint’’), effective February 28,
2011, and as such, proposes to
contemporaneously delete the text of
Rule 1500, which governs MatchPoint’s
functionality. The text of the proposed
rule change is available on the
Exchange’s Web site at https://
www.nyse.com, at the Exchange’s
principal office, at the Commission’s
Public Reference Room, and on the
Commission’s Web site at https://
www.sec.gov.
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
self-regulatory organization 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 those 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 parts of such
statements.
1 15
2 17
Frm 00083
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E:\FR\FM\18FEN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
18FEN1
Federal Register / Vol. 76, No. 34 / Friday, February 18, 2011 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange intends to cease
operating MatchPoint, effective
February 28, 2011, and as such,
proposes to contemporaneously delete
the text of Rule 1500, which governs
MatchPoint’s functionality. MatchPoint
is a portfolio-based, point-in-time
electronic exchange facility that
matches aggregated orders at
predetermined times. The Exchange will
provide advance notice to its members
and member organizations of the
discontinuation of this functionality.
The Exchange also proposes to make
conforming changes to remove
references to Rule 1500 and MatchPoint
from the following other Exchange
rules: Rule 13, Rule 15, Supplementary
Materials .15 and .20 to Rule 79A,
Supplementary Material .10 to Rule 104,
Supplementary Material .40 to Rule 116,
Rule 123B and Supplementary Material
.30 thereto, Supplementary Material .10
to Rule 123C, Supplementary Material
.25 to Rule 123D, Supplementary
Material .11 to Rule 1000, and Rule
1600.
2. Statutory Basis
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
The Exchange believes that the
proposed rule change is consistent with
the requirements of Section 6(b) of the
Securities Exchange Act of 1934
(‘‘Act’’),3 in general, and Section 6(b)(5)
of the Act,4 in particular, in that it is
designed 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 for a free and open market
and a national market system and, in
general, to protect investors and the
public interest. The proposed rule
change, in conjunction with a related
communication to members and
member organizations, will provide
advance notice to NYSE members and
member organizations that the Exchange
will cease operation of MatchPoint.
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 that is not
necessary or appropriate in furtherance
of the purposes of the Act.
3 15
4 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
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13:57 Feb 17, 2011
Jkt 223001
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
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 5 and Rule
19b–4(f)(6) thereunder.6 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; or (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 and Rule 19b–4(f)(6)(iii)
thereunder.7
The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Commission hereby grants
the request. Waiving the operative delay
will allow the Exchange to cease
operations of MatchPoint on February
28, 2011, which, as noted by the
Exchange, is the compliance date for
amendments to Regulation SHO under
the Act. By waiving the operative delay,
the Exchange will be able to cease the
operation of MatchPoint rather than
making systems changes to MatchPoint
to comply with the amendments to
Regulation SHO for the time between
February 28, 2011 and the date that is
30 days after the date of this filing.
Therefore, the Commission believes it is
consistent with the protection of
investors and the public interest to
waive the 30-day operative delay and
designates the proposal as operative
upon filing.8
5 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
7 17 CFR 240.19b–4(f)(6)(iii). 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 the 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.
8 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
6 17
PO 00000
Frm 00084
Fmt 4703
Sfmt 4703
9617
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• 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–NYSE–2011–03 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–NYSE–2011–03. This file
number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
printing in the Commission’s Public
Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official
business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also
will be available for inspection and
copying at the principal office of the
Exchange. All comments received will
be posted without change; the
Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
E:\FR\FM\18FEN1.SGM
18FEN1
9618
Federal Register / Vol. 76, No. 34 / Friday, February 18, 2011 / Notices
available publicly. All submissions
should refer to File Number SR–NYSE–
2011–03 and should be submitted on or
before March 11, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011–3646 Filed 2–17–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63905; File No. SR–Phlx–
2011–17]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Establish
and Adopt Fees for the New Short Sale
Monitor Service and PSX Data Add-On
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
4, 2011, NASDAQ OMX PHLX LLC
(‘‘Phlx’’ or ‘‘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
substantially prepared by Phlx. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of the Substance
of the Proposed Rule Change
Phlx proposes to adopt a fee for the
Short Sale Monitor and the PSX Data
Add-On, a new service and related
NASDAQ OMX PSX (‘‘PSX’’) add-on
data that assist subscribers in complying
with new requirements arising from
recent amendments to Regulation SHO.
The Exchange will implement the
service as soon as practicable following
the effective date of the filing.
The text of the proposed rule change
is available at the principal office of the
Exchange, and at the Commission’s
Public Reference Room.
*
*
*
*
*
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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13:57 Feb 17, 2011
Jkt 223001
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Phlx 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. Phlx has prepared
summaries, set forth in Sections A, B,
and C below, of the most significant
aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Phlx is proposing to amend its fee
schedule to establish the Short Sale
Monitor offered to subscribing member
firms at no cost through March 31, 2011
and for a fee of $750 per market
participant identifier (‘‘MPID’’), per
month thereafter. The Short Sale
Monitor is a new service that provides
subscribers with real-time surveillance
of trades reported to the FINRA/Nasdaq
Trade Reporting Facility (‘‘FINRA/
NASDAQ TRF’’) 3 marked as ‘‘short’’ and
‘‘short exempt’’ to assist them in
monitoring their compliance with
amendments to Regulation SHO under
the Act.4 The Commission recently
amended Regulation SHO to adopt a
new short sale-related circuit breaker
combined with an alternative uptick
rule under Rule 201.5 The new rule
imposes a restriction on the price at
which a security may be sold short if the
circuit breaker is triggered. Specifically,
the new rule requires trading centers,6
which include self-regulatory
organizations (‘‘SROs’’), to establish,
3 The FINRA/NASDAQ TRF is a facility of FINRA
operated by The NASDAQ OMX Group, Inc.
4 Securities Exchange Act Release No. 61595
(February 26, 2010), 75 FR 11232 (March 10, 2010)
(amending Rule 201 and Rule 200(g) of Regulation
SHO). The amendments to Rules 201 and 200(g) of
Regulation SHO have a compliance date of February
28, 2011. See Securities Exchange Act Release No.
63247 (November 4, 2010), 75 FR 68702 (November
9, 2010) (extending the compliance date of the
amendments to Rules 201 and 200(g) of Regulation
SHO from November 10, 2010 until February 28,
2011).
5 17 CFR 242.201.
6 Rule 201(a)(9) defines the term ‘‘trading center’’
as having the same meaning as in Rule 600(b)(78)
of Regulation NMS. Rule 600(b)(78) defines a
‘‘trading center’’ as ‘‘a national securities exchange
or national securities association that operates an
SRO trading facility, an alternative trading system,
an exchange market maker, an OTC market maker,
or any other broker or dealer that executes orders
internally by trading as principal or crossing orders
as agent.’’ 17 CFR 242.600(b)(78).
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Frm 00085
Fmt 4703
Sfmt 4703
maintain and enforce written policies
and procedures reasonably designed to
prevent the execution or display of short
sale orders in a covered security 7 at a
price that is less than or equal to the
current national best bid 8 if the price of
that covered security decreases by 10%
or more from its closing price as
determined by the listing market 9 as of
the end of regular trading hours on the
prior day.10 In addition, the rule
requires that the trading center
establish, maintain, and enforce written
policies and procedures reasonably
designed to impose this short sale price
test restriction for the remainder of the
day and the following day when a
national best bid for the covered
security is calculated and disseminated
on a current and continuing basis by a
plan processor pursuant to an effective
national market system plan.11 Trading
centers are required to regularly surveil
to ascertain the effectiveness of these
policies and procedures. Rule 201
generally permits short selling at a price
above the current national best bid
during the time a short sale price test
restriction is in effect for a covered
security.
The Commission also amended
Regulation SHO to provide that a
broker-dealer may mark certain
qualifying sell orders ‘‘short exempt.’’ 12
7 Rule 201(a)(1) defines the term ‘‘covered
security’’ for purposes of Rule 201. See 17 CFR
242.201(a)(1). Rule 201(a)(1) defines ‘‘covered
security’’ to mean any ‘‘NMS stock’’ as defined
under Rule 600(b)(47) of Regulation NMS. Rule
600(b)(47) of Regulation NMS defines an ‘‘NMS
stock’’ as ‘‘any NMS security other than an option.’’
17 CFR 242.600(b)(47). Rule 600(b)(46) of
Regulation NMS defines an ‘‘NMS security’’ as ‘‘any
security or class of securities for which transaction
reports are collected, processed, and made available
pursuant to an effective transaction reporting plan,
or an effective national market system plan for
reporting transactions in listed options.’’ 17 CFR
242.600(b)(46).
8 Rule 201(a)(4) defines the term ‘‘national best
bid’’ for purposes of Rule 201. See 17 CFR
242.201(a)(4).
9 Rule 201(a)(3) defines the term ‘‘listing market’’
for purposes of Rule 201. See 17 CFR 242.201(a)(3).
10 17 CFR 242.201(b)(1)(i).
11 17 CFR 242.201(b)(1)(ii). Further, if the price of
a covered security declines intra-day by at least
10% on a day on which the security is already
subject to the short sale price test restriction of Rule
201, the restriction will be re-triggered and,
therefore, will continue in effect for the remainder
of that day and the following day. Rule 201 does
not place any limit on the frequency or number of
times the circuit breaker can be re-triggered with
respect to a particular stock. See Division of
Trading and Markets: Responses to Frequently
Asked Questions Concerning Rule 201 of
Regulation SHO, Q&A No. 2.2 (https://sec.gov/
divisions/marketreg/rule201faq.htm).
12 Formerly, Rule 200(g) of Regulation SHO
provided that a broker-dealer must mark all sell
orders of any security as ‘‘long’’ or ‘‘short.’’ As
amended, Rule 200(g) now provides a ‘‘short
exempt’’ marking requirement. 17 CFR 242.200(g).
Rule 200(g)(2) provides that a sale order may only
E:\FR\FM\18FEN1.SGM
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]]>Agencies
[Federal Register Volume 76, Number 34 (Friday, February 18, 2011)]
[Notices]
[Pages 9616-9618]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-3646]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63898; File No. SR-NYSE-2011-03]
Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Cease Operating NYSE MatchPoint Effective February 28, 2011 and
Contemporaneously Delete the Text of Rule 1500, Which Governs
MatchPoint's Functionality
February 11, 2011.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act'') \1\, and Rule 19b-4 thereunder,\2\ notice is hereby given
that on February 7, 2011, New York Stock Exchange LLC (``NYSE'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I and
II, 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
The Exchange proposes to cease operating NYSE MatchPoint\SM\
(``MatchPoint''), effective February 28, 2011, and as such, proposes to
contemporaneously delete the text of Rule 1500, which governs
MatchPoint's functionality. The text of the proposed rule change is
available on the Exchange's Web site at https://www.nyse.com, at the
Exchange's principal office, at the Commission's Public Reference Room,
and on the Commission's Web site at https://www.sec.gov.
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 self-regulatory organization
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 those 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 parts of such statements.
[[Page 9617]]
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange intends to cease operating MatchPoint, effective
February 28, 2011, and as such, proposes to contemporaneously delete
the text of Rule 1500, which governs MatchPoint's functionality.
MatchPoint is a portfolio-based, point-in-time electronic exchange
facility that matches aggregated orders at predetermined times. The
Exchange will provide advance notice to its members and member
organizations of the discontinuation of this functionality.
The Exchange also proposes to make conforming changes to remove
references to Rule 1500 and MatchPoint from the following other
Exchange rules: Rule 13, Rule 15, Supplementary Materials .15 and .20
to Rule 79A, Supplementary Material .10 to Rule 104, Supplementary
Material .40 to Rule 116, Rule 123B and Supplementary Material .30
thereto, Supplementary Material .10 to Rule 123C, Supplementary
Material .25 to Rule 123D, Supplementary Material .11 to Rule 1000, and
Rule 1600.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the requirements of Section 6(b) of the Securities Exchange Act of
1934 (``Act''),\3\ in general, and Section 6(b)(5) of the Act,\4\ in
particular, in that it is designed 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 for a
free and open market and a national market system and, in general, to
protect investors and the public interest. The proposed rule change, in
conjunction with a related communication to members and member
organizations, will provide advance notice to NYSE members and member
organizations that the Exchange will cease operation of MatchPoint.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f(b).
\4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 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
No written comments were solicited or received with respect to the
proposed rule change.
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 \5\ and Rule 19b-4(f)(6) thereunder.\6\
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; or (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 and Rule 19b-
4(f)(6)(iii) thereunder.\7\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A)(iii).
\6\ 17 CFR 240.19b-4(f)(6).
\7\ 17 CFR 240.19b-4(f)(6)(iii). 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 the 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.
---------------------------------------------------------------------------
The Exchange has asked the Commission to waive the 30-day operative
delay so that the proposal may become operative immediately upon
filing. The Commission hereby grants the request. Waiving the operative
delay will allow the Exchange to cease operations of MatchPoint on
February 28, 2011, which, as noted by the Exchange, is the compliance
date for amendments to Regulation SHO under the Act. By waiving the
operative delay, the Exchange will be able to cease the operation of
MatchPoint rather than making systems changes to MatchPoint to comply
with the amendments to Regulation SHO for the time between February 28,
2011 and the date that is 30 days after the date of this filing.
Therefore, the Commission believes it is consistent with the protection
of investors and the public interest to waive the 30-day operative
delay and designates the proposal as operative upon filing.\8\
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\8\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
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-NYSE-2011-03 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-NYSE-2011-03. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make
[[Page 9618]]
available publicly. All submissions should refer to File Number SR-
NYSE-2011-03 and should be submitted on or before March 11, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-3646 Filed 2-17-11; 8:45 am]
BILLING CODE 8011-01-P
