Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX LLC To Conform Exchange Rules, 33378-33379 [2011-14035]
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33378
Federal Register / Vol. 76, No. 110 / Wednesday, June 8, 2011 / Notices
suspended for the period from 9:30 a.m.
EDT on Monday, June 6, 2011 and
terminating at 11:59 p.m. E.D.T. on
Friday, June 17, 2011.
By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–14285 Filed 6–6–11; 4:15 pm]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–64584; File No. SR–Phlx–
2011–69]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NASDAQ
OMX PHLX LLC To Conform Exchange
Rules
June 2, 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 May 25,
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
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
sroberts on DSK5SPTVN1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
Fee Schedule and Exchange Rules 99,
274, 279, 501, 507, 510, 640, 722, 985,
1033, 1092, 1001A, 1047A, 3201, 3211,
3228, 3312, 3404 and 3405 to conform
the text of the Fee Schedule and Rules
to a rule change that was recently
approved by the Commission.3
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaqtrader.com/
micro.aspx?id=PHLXfilings, at the
principal office of the Exchange, 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
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 64338
(April 25, 2011), 76 FR 12180 (March 4, 2011) (SR–
Phlx–2011–13).
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to conform the Exchange’s Fee
Schedule and/or text of various Rules,
as applicable, to utilize language
consistently throughout the Rulebook.
The Exchange recently filed a rule
change, to among other things, change
the name of the Exchange’s Board from
a ‘‘Board of Governors’’ to a ‘‘Board of
Directors’’, eliminate references to
foreign currency option participations,
and capitalize all uses of the word ‘‘rule’’
where that word referred to an Exchange
Rule.4
The Exchange proposes to amend the
Fee Schedule and/or text of various
Rules, as applicable, to change
references to a Board of Governors to a
Board of Directors and remove all
references to foreign currency options
participations and participants. In
addition, the Exchange proposes to
amend the Routing Fees in the Fee
Schedule to reorder the Routing Fees,
specifically to move C2 after CBOE for
ease of reference.
Additionally, the Exchange proposes
to amend Rules 99, 274, 279, 501, 507,
510, 640, 722, 985, 1033, 1092, 1001A,
1047A, 3201, 3211, 3228, 3312, 3404
and 3405 to capitalize all uses of the
word ‘‘rule’’ where that word referred to
an Exchange Rule. The Exchange
inadvertently did not amend the Rule
references in the prior filing.5
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 6 in general, and furthers the
objectives of Section 6(b)(5) of the Act 7
in particular, in that it is designed to
promote just and equitable principles of
trade, 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, by
1 15
2 17
VerDate Mar<15>2010
21:51 Jun 07, 2011
Jkt 223001
4 Id.
conforming the language in the
Exchange’s Fee Schedule and Rules so
that it is consistent throughout. The
Exchange believes that these
amendments will clarify the Exchange’s
Rules (including the Fee Schedule) to
the benefit of the membership. The
Exchange believes that making the rules
consistent will eliminate confusion with
respect to the various references it is
amending.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Pursuant to Section 19(b)(3)(A) of the
Act 8 and Rule 19b–4(f)(1) 9 thereunder,
the Exchange has designated this
proposal as one that constitutes a stated
policy, practice or interpretation with
respect to the meaning, administration,
or enforcement of an existing rule of the
SRO, and therefore has become
effective.
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
5 Id.
6 15
7 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00188
Fmt 4703
8 15
9 17
Sfmt 4703
E:\FR\FM\08JNN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(1).
08JNN1
Federal Register / Vol. 76, No. 110 / Wednesday, June 8, 2011 / Notices
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–Phlx–2011–69 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–Phlx–2011–69. 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
available publicly.
All submissions should refer to File
Number SR–Phlx–2011–69 and should
be submitted on or before June 29, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Cathy H. Ahn,
Deputy Secretary.
sroberts on DSK5SPTVN1PROD with NOTICES
[FR Doc. 2011–14035 Filed 6–7–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–64594; File No. SR–Phlx–
2011–76]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NASDAQ
OMX PHLX LLC Relating to the Appeal
Fee
June 3, 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 May 26,
2011, NASDAQ OMX PHLX LLC (‘‘Phlx’’
or ‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. 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 amend the
Exchange’s Fee Schedule to eliminate
the Appeal Fee for appeals to the Board
of Directors. The text of the proposed
rule change is available on the
Exchange’s Web site at https://
nasdaqtrader.com/micro.aspx?id=
PHLXfilings, at the principal office of
the Exchange, 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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to eliminate the Appeal Fee
for appeals to the Board of Directors
1 15
10 17
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
21:51 Jun 07, 2011
2 17
Jkt 223001
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00189
Fmt 4703
Sfmt 4703
33379
(‘‘Appeal Fee’’), in Section VI of the
Exchange’s Fee Schedule entitled
‘‘Access Service, Cancellation,
Membership, Regulatory and Other
Fees.’’ The Exchange believes that recent
amendments to the By-Laws and Rules
render this Appeal Fee inapplicable.
Currently, the Exchange assesses a
$250 Appeal Fee for an appeal from a
decision of a Standing Committee, with
the exception of appeals from a decision
of the Business Conduct Committee,
Hearing Panels, Nominating Committee
or Member Nominating Committee, to
the Board of Directors.3 In January 2007,
when the Appeal Fee became effective,
the Exchange noted that By-Law Article
XI, Section 11–1 entitled ‘‘Appeals,’’
provided for appeals from decisions of
Standing Committees to the Board.4
Since that time, the Exchange has
amended its By-Laws to: (i) Eliminate
the Admissions Committee and Options
Allocation, Evaluation and Securities
Committee; (ii) consolidate the Options
Committee and the Foreign Currency
Options Committee into the Quality of
Markets Committee; and (iii) eliminate
By-Law Article XI, Section 11–1 relating
to appeals from Standing Committees.5
The Appeal Fee is not applicable to the
Business Conduct Committee,
Nominating Committee and Member
Nominating Committee. In addition, the
Appeal Fee was originally filed to
reduce frivolous appeals; such frivolous
appeals are not an issue at this time.
2. Statutory Basis
The Exchange believes that its
proposal to amend its Fee Schedule is
consistent with Section 6(b) of the Act 6
in general, and furthers the objectives of
Section 6(b)(4) of the Act 7 in particular,
in that it is an equitable allocation of
reasonable fees and other charges among
Exchange members and other persons
using its facilities.
The Exchange believes that its
proposal is reasonable because of the
recent amendments to the Exchange’s
By-Laws, reduction in Standing
Committees and reduction of frivolous
claims. The Exchange also believes that
its proposal is equitable because no
member would be subject to an Appeal
Fee.
3 The Appeal Fee is refunded to appellant in the
event the Board of Directors overturns the decision
of the Standing Committee.
4 See Securities Exchange Act Release No. 55071
(January 9, 2007), 72 FR 2078 (January 17, 2007)
(SR–Phlx–2006–84).
5 See Securities Exchange Act Release No. 59924
(May 14, 2009), 74 FR 23759 (May 20, 2009) (SR–
Phlx–2009–23). See also Securities Exchange Act
Release No. 64338 (April 25, 2011), 76 FR 24069
(April 29, 2011) (SR–Phlx-2011–13).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(4).
E:\FR\FM\08JNN1.SGM
08JNN1
]]>Agencies
[Federal Register Volume 76, Number 110 (Wednesday, June 8, 2011)]
[Notices]
[Pages 33378-33379]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-14035]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-64584; File No. SR-Phlx-2011-69]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX LLC To Conform
Exchange Rules
June 2, 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 May 25, 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 prepared by the Exchange. 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 amend its Fee Schedule and Exchange Rules
99, 274, 279, 501, 507, 510, 640, 722, 985, 1033, 1092, 1001A, 1047A,
3201, 3211, 3228, 3312, 3404 and 3405 to conform the text of the Fee
Schedule and Rules to a rule change that was recently approved by the
Commission.\3\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 64338 (April 25,
2011), 76 FR 12180 (March 4, 2011) (SR-Phlx-2011-13).
---------------------------------------------------------------------------
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqtrader.com/micro.aspx?id=PHLXfilings, at the
principal office of the Exchange, 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.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to conform the
Exchange's Fee Schedule and/or text of various Rules, as applicable, to
utilize language consistently throughout the Rulebook. The Exchange
recently filed a rule change, to among other things, change the name of
the Exchange's Board from a ``Board of Governors'' to a ``Board of
Directors'', eliminate references to foreign currency option
participations, and capitalize all uses of the word ``rule'' where that
word referred to an Exchange Rule.\4\
---------------------------------------------------------------------------
\4\ Id.
---------------------------------------------------------------------------
The Exchange proposes to amend the Fee Schedule and/or text of
various Rules, as applicable, to change references to a Board of
Governors to a Board of Directors and remove all references to foreign
currency options participations and participants. In addition, the
Exchange proposes to amend the Routing Fees in the Fee Schedule to
reorder the Routing Fees, specifically to move C2 after CBOE for ease
of reference.
Additionally, the Exchange proposes to amend Rules 99, 274, 279,
501, 507, 510, 640, 722, 985, 1033, 1092, 1001A, 1047A, 3201, 3211,
3228, 3312, 3404 and 3405 to capitalize all uses of the word ``rule''
where that word referred to an Exchange Rule. The Exchange
inadvertently did not amend the Rule references in the prior filing.\5\
---------------------------------------------------------------------------
\5\ Id.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \6\ in general, and furthers the objectives of Section
6(b)(5) of the Act \7\ in particular, in that it is designed to promote
just and equitable principles of trade, 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,
by conforming the language in the Exchange's Fee Schedule and Rules so
that it is consistent throughout. The Exchange believes that these
amendments will clarify the Exchange's Rules (including the Fee
Schedule) to the benefit of the membership. The Exchange believes that
making the rules consistent will eliminate confusion with respect to
the various references it is amending.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 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 not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Pursuant to Section 19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(1)
\9\ thereunder, the Exchange has designated this proposal as one that
constitutes a stated policy, practice or interpretation with respect to
the meaning, administration, or enforcement of an existing rule of the
SRO, and therefore has become effective.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
[[Page 33379]]
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-Phlx-2011-69 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-Phlx-2011-69. 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 available publicly.
All submissions should refer to File Number SR-Phlx-2011-69 and
should be submitted on or before June 29, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-14035 Filed 6-7-11; 8:45 am]
BILLING CODE 8011-01-P
