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]

Download as PDF 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. VerDate Mar<15>2010 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 http:// www.nyse.com, at the Exchange’s principal office, at the Commission’s Public Reference Room, and on the Commission’s Web site at http:// 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 Fmt 4703 Sfmt 4703 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). VerDate Mar<15>2010 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 (http://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 (http://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 VerDate Mar<15>2010 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). PO 00000 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 (http://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 18FEN1

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 http://www.nyse.com, at the 
Exchange's principal office, at the Commission's Public Reference Room, 
and on the Commission's Web site at http://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\
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

    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 (http://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 (http://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\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-3646 Filed 2-17-11; 8:45 am]
BILLING CODE 8011-01-P