Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend Rule 7034 Regarding Co-Location Fees for Additional Power and Cable Options, 38710-38712 [2011-16570]
Download as PDF
38710
Federal Register / Vol. 76, No. 127 / Friday, July 1, 2011 / Notices
Agency name
Department of Energy .....................
Environmental Protection Agency ...
Federal Communications Commission.
Government Printing Office .............
Department of Health and Human
Services.
Department of Housing and Urban
Development.
Department of the Interior ...............
DEPARTMENT OF JUSTICE ..........
Department of Labor .......................
National Endowment for the Arts ....
Office of Management and Budget
Office of Personnel Management ....
Small Business Administration ........
Social Security Administration .........
Department of State ........................
Department of Transportation .........
Department of the Treasury ............
Department of Veterans Affairs .......
Office of the Secretary ...................
Office of the Secretary ...................
Office of Public Affairs ...................
Office of Electricity Delivery and
Energy Reliability.
Office of the Associate Administrator for External Affairs and
Environmental Education.
Office of the Associate Administrator for External Affairs and
Environmental Education.
Office of Media Relations ..............
Confidential Assistant ....................
Confidential Assistant ....................
Deputy Press Secretary .................
Special Assistant ............................
DB110055
DB110059
DE110070
DE110072
4/21/2011
4/22/2011
4/20/2011
4/21/2011
Assistant Press Secretary ..............
EP110020
4/4/2011
Director, Office of Public Engagement.
EP110021
4/21/2011
Communications Director ...............
FC110005
4/26/2011
Office of the Public Printer .............
Office of the Assistant Secretary
for Children and Families.
Office of the Secretary ...................
New England (Boston) ...................
Executive Assistant ........................
Director of Public Affairs ................
GP110001
DH110070
4/26/2011
4/4/2011
Confidential Assistant ....................
Regional Administrator ...................
DH110077
DU110018
4/26/2011
4/19/2011
Secretary’s Immediate Office .........
Office of the Legal Counsel ...........
Office of Justice Programs ............
Employment and Training Administration.
Office of Disability Employment
Policy.
Office of Public Affairs ...................
Office of the Secretary ...................
National Endowment for the Arts ...
Special Assistant for Advance .......
Senior Counsel ..............................
Chief of Staff ..................................
Chief of Staff ..................................
DI110049
DJ110065
DJ110069
DL110022
4/20/2011
4/20/2011
4/29/2011
4/7/2011
Chief of Staff ..................................
DL110023
4/15/2011
Speech Writer ................................
Briefing Book ..................................
Special Assistant for Congressional Affairs.
Legislative Assistant ......................
Special Assistant ............................
Press Secretary .............................
Regional Administrator for Region
Iv.
Senior Policy Advisor .....................
Senior Advisor ................................
Senior Advisor ................................
DL110025
DL110027
NA110001
4/21/2011
4/29/2011
4/21/2011
BO110014
BO110017
PM110007
SB110027
4/8/2011
4/20/2011
4/26/2011
4/7/2011
SB110023
SZ110035
DS110047
4/11/2011
4/26/2011
4/19/2011
Staff Assistant ................................
DS110073
4/29/2011
Deputy Assistant Secretary for
Management and Budget.
Deputy Executive Secretary ..........
Press Secretary .............................
DT110026
4/21/2011
DY110060
DV110040
4/1/2011
4/8/2011
Legislative Affairs ...........................
Office of the Director ......................
Office of Personnel Management ..
Office of Field Operations ..............
Office of the Administrator .............
Office of the Commissioner ...........
Office of the Global Women’s Initiative.
Bureau for Education and Cultural
Affairs.
Assistant Secretary for Budget and
Programs.
Secretary of the Treasury ..............
Office of the Assistant Secretary
for Public and Intergovernmental
Affairs.
of the impact of an employment action
on EEO reporting.
[Release No. 34–64755; File No. SR–BX–
2011–037]
Stephen L. Sharfman, General Counsel,
202–789–6820.
[FR Doc. 2011–16547 Filed 6–30–11; 8:45 am]
BILLING CODE 6325–39–P
POSTAL REGULATORY COMMISSION
mstockstill on DSK4VPTVN1PROD with NOTICES6
SECURITIES AND EXCHANGE
COMMISSION
CONTACT PERSON FOR MORE INFORMATION:
U.S. Office of Personnel Management.
John Berry,
Director.
Dated: June 24, 2011.
By the Commission.
Shoshana M. Grove,
Secretary.
[FR Doc. 2011–16697 Filed 6–29–11; 11:15 am]
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 June 23,
2011, NASDAQ OMX BX, Inc. (‘‘BX’’ or
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: 75 FR 37161 (June 24,
2011).
An item has
been added to the closed portion of the
meeting: Item 9—Personnel—discussion
CHANGES IN THE MEETING:
Jkt 223001
PO 00000
Self-Regulatory Organizations;
NASDAQ OMX BX, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Amend Rule
7034 Regarding Co-Location Fees for
Additional Power and Cable Options
June 27, 2011.
BILLING CODE 7710–FW–P
Sunshine Act Meetings
18:54 Jun 30, 2011
Effective
date
Position title
Authority: 5 U.S.C. 3301 and 3302; E.O.
10577, 3 CFR 1954–1958 Comp., p. 218.
VerDate Mar<15>2010
Authorization
number
Organization name
1 15
2 17
Frm 00112
Fmt 4703
Sfmt 4703
E:\FR\FM\01JYN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
01JYN1
Federal Register / Vol. 76, No. 127 / Friday, July 1, 2011 / Notices
‘‘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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
Rule 7034 regarding co-location fees for
additional power and cable options. The
text of the proposed rule change is
available at https://nasdaqomxbx.
cchwallstreet.com/, at the Exchange’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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
mstockstill on DSK4VPTVN1PROD with NOTICES6
1. Purpose
The Exchange proposes to amend
Rule 7034 regarding co-location fees for
additional power and cable options. The
Exchange proposes to offer a new choice
of a pair of power receptacles (60 amps
208 volts), which would provide enough
power for a high density cabinet. The
proposed fee for installation of the pair
of the 60 amp 208 volt power
receptacles is $3,000. There are ten
other power choices already available
and this new receptacle choice is being
offered as more clients are requesting
higher power density cabinets.
Additionally, the Exchange proposes to
offer a new choice of patch cable,
twinaxial (otherwise known as
‘‘Twinax’’) cables, in lengths of one
meter to five meters. The proposed fee
for the Twinax cables is $34 + $10 per
meter. The Exchange is making the
Twinax cables available as a
convenience to customers, and notes
that use of Exchange-provided patch
VerDate Mar<15>2010
18:54 Jun 30, 2011
Jkt 223001
cords is completely voluntary, and that
such patch cords may be freely obtained
from other vendors for use by customers
in the datacenter.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,3
in general, and with Section 6(b)(4) of
the Act,4 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees and other charges
among members and issuers and other
persons using any facility or system
which the Exchange operates or
controls.
The Exchange operates in a highly
competitive market, in which exchanges
offer co-location services as a means to
facilitate the trading activities of those
members who believe that co-location
enhances the efficiency of their trading.
Accordingly, fees charged for colocation services are constrained by the
active competition for the order flow of
such members. If a particular exchange
charges excessive fees for co-location
services, affected members will opt to
terminate their co-location arrangements
with that exchange, and adopt a
possible range of alternative strategies,
including co-locating with a different
exchange, placing their servers in a
physically proximate location outside
the exchange’s data center, or pursuing
trading strategies not dependent upon
co-location. Accordingly, the exchange
charging excessive fees would stand to
lose not only co-location revenues but
also revenues associated with the
execution of orders routed to it by
affected members. The Exchange
believes that this competitive dynamic
imposes powerful restraints on the
ability of any exchange to charge
unreasonable fees for co-location
services.
It should be noted, however, that the
costs associated with operating a colocation facility, like the costs of
operating the electronic trading facility
with which the co-location facility is
associated, are primarily fixed costs,
and in the case of co-location are
primarily the costs of renting or owning
data center space and retaining a staff of
technical personnel. Accordingly, the
Exchange establishes a range of colocation fees with the goal of covering
these fixed costs, covering less
significant marginal costs, such as the
cost of electricity, and providing the
Exchange a profit to the extent the costs
are covered. Because fixed costs must be
allocated among all customers, the
U.S.C. 78f.
4 15 U.S.C. 78f(b)(4).
Frm 00113
Fmt 4703
Exchange’s fee schedule reflects an
effort to assess a range of relatively low
fees for specific aspects of co-location
services, which, in the aggregate, will
allow the Exchange to cover its costs
and to the extent the costs are covered,
allow the Exchange to earn a profit.
In the case of the proposed fees for a
pair of the 60 amp power receptacles
and the Twinax cables, the proposed
fees cover the marginal costs of
establishing and maintaining the
electrical installation, the costs of
obtaining the cable equipment from the
Exchange’s vendors, and allow the
Exchange to earn a profit; [sic] to the
extent the costs are covered.
Accordingly, the Exchange believes that
it is reasonable to use fees assessed on
this basis as a means to recoup a share
of fixed costs associated with the
proposed power and cable options,
provide a convenience for the customers
and to the extent the costs are covered,
provide a profit to the Exchange.
The Exchange also notes that the fees
charged by the Exchange are generally
lower or comparable to prices charged
by other exchanges or unregulated
vendors for similar services. For
instance, NYSE Arca, Inc. charges for
the power installation by including it in
a higher install for the co-location
cabinet.5 With respect to the proposed
fees for Twinax cables, the fees charged
by the Exchange are generally lower or
comparable to prices charged by
unregulated vendors for similar
products. See https://www.google.com/
products/catalog?hl=en&biw=1259&
bih=813&q=Twinax+cable&
um=1&ie=UTF–8&tbm=shop&
cid=15023972358025904938&sa=X&
ei=8tDfTaOwIcHagQeVu6DUCg&
ved=0CDcQ8wIwAw#.
Furthermore, because the proposed
services are available to all members
through optional co-location services,
the Exchange’s fees for proposed colocation services are reasonable and
equitably allocated across the
membership. All co-location customers
are offered the same range of products
and services and there is no
differentiation among customers with
regard to the fees charged for a
particular product, service, or piece of
equipment.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
any burden on competition that is not
5 See Release No. 63275 (November 8, 2010) at
page 4, 75 FR 70048 (November 16, 2010) (SR–
NYSEArca–2010–100) [sic].
3 15
PO 00000
38711
Sfmt 4703
E:\FR\FM\01JYN1.SGM
01JYN1
38712
Federal Register / Vol. 76, No. 127 / Friday, July 1, 2011 / Notices
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
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act.6 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:
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 will
also be available for inspection and
copying at the principal office of the
self-regulatory organization. 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–BX–2011–037 and should
be submitted on or before July 22, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–16570 Filed 6–30–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
mstockstill on DSK4VPTVN1PROD with NOTICES6
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–BX–2011–037 on the
subject line.
[Release No. 34–64754; File No. SR–BATS–
2011–015]
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–BX–2011–037. 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
June 27, 2011.
6 15
U.S.C. 78s(b)(3)(a)(ii).
VerDate Mar<15>2010
18:54 Jun 30, 2011
Jkt 223001
Self-Regulatory Organizations; BATS
Exchange, Inc.; Order Approving a
Proposed Rule Change To Amend
BATS Rule 11.9, Entitled ‘‘Orders and
Modifiers’’ and BATS Rule 11.13,
Entitled ‘‘Order Execution’’
I. Introduction
On May 9, 2011, BATS Exchange, Inc.
(the‘‘Exchange’’ or ‘‘BATS’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’), pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’) 1 and Rule
19–4 thereunder,2 a proposed rule
change to amend BATS Rule 11.9,
entitled ‘‘Orders and Modifiers’’ and
BATS Rule 11.13, entitled ‘‘Order
Execution.’’ The proposed rule change
was published for comment in the
Federal Register on May 18, 2011.3 The
7 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19–4.
3 See Securities Exchange Act Release No. 64475
(May 12, 2011); 76 FR 28830 (‘‘Notice’’).
1 15
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
Commission received no comment
letters on the proposed rule change.
This order approves the proposed rule
change.
II. Description
First, the Exchange proposes to
change its order handling procedures to
allow both Non-Displayed Orders 4 and
orders subject to price sliding that are
not executable at their most aggressive
price to be executed in the manner and
under the circumstances described
below.5 Second, the Exchange proposes
to modify the Exchange’s rules to make
clear that an order subject to ‘‘NMS
price sliding’’ 6 can be ranked at the
same price as an order displayed on the
other side of the BATS Book,7 although
temporarily not executable at that price
and displayed at one minimum price
variation less aggressive than its price.
The Exchange’s first proposed change
noted above, amending BATS Rules
11.9 and 11.13, is intended to address
two specific scenarios that currently
exist on the Exchange: (1) NonDisplayed Orders posted opposite samepriced displayed orders and (2) orders
subject to price sliding under BATS
Rule 11.9(g) that are ranked at a price
equal to an opposite-side displayed
order (collectively ‘‘Resting Orders’’).8
These two scenarios can occur when an
order on either side of the market is a
BATS Post Only Order.9 Consistent with
the Exchange’s current rule regarding
priority of orders, BATS Rule 11.12,
these Resting Orders cannot be executed
by the Exchange pursuant to BATS Rule
11.13 when such orders would be
executed at prices equal to displayed
orders on the opposite side of the
market (the ‘‘locking price’’) because if
the incoming orders were allowed to
execute against such Resting Orders at
4 BATS Rule 11.9(c)(11) defines a Non-Displayed
Order as ‘‘a market or limit order that is not
displayed on the Exchange.’’
5 The reference to the most ‘‘aggressive’’ price
means for bids the highest price the User is willing
to pay, and for offers the lowest price at which the
User is willing to sell.
6 For bids, this means that a price slid order is
displayed at one minimum price variation less than
the current national best offer (‘‘NBO’’), and for
offers, this means that a price slid order is
displayed at one minimum price variation more
than the current national best bid (‘‘NBB’’). See
BATS Rule 11.9(g)(1).
7 As defined in BATS Rule 1.5(e), the BATS Book
is ‘‘the System’s electronic file of orders.’’
8 See Notice, supra note 3.
9 See id. As defined in BATS Rule 11.9(c)(6), a
BATS Post Only Order is ‘‘[a]n order that is to be
ranked and executed on the Exchange pursuant to
Rule 11.12 and Rule 11.13(a)(1) or cancelled, as
appropriate, without routing away to another
trading center except that the order will not remove
liquidity from the BATS Book.’’ Accordingly, a
BATS Post Only Order does not remove liquidity,
but posts to the BATS Book to the extent
permissible.
E:\FR\FM\01JYN1.SGM
01JYN1
Agencies
[Federal Register Volume 76, Number 127 (Friday, July 1, 2011)]
[Notices]
[Pages 38710-38712]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-16570]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-64755; File No. SR-BX-2011-037]
Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend
Rule 7034 Regarding Co-Location Fees for Additional Power and Cable
Options
June 27, 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 June 23, 2011, NASDAQ OMX BX, Inc. (``BX'' or
[[Page 38711]]
``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 Rule 7034 regarding co-location fees
for additional power and cable options. The text of the proposed rule
change is available at https://nasdaqomxbx.cchwallstreet.com/, at the
Exchange'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.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend Rule 7034 regarding co-location fees
for additional power and cable options. The Exchange proposes to offer
a new choice of a pair of power receptacles (60 amps 208 volts), which
would provide enough power for a high density cabinet. The proposed fee
for installation of the pair of the 60 amp 208 volt power receptacles
is $3,000. There are ten other power choices already available and this
new receptacle choice is being offered as more clients are requesting
higher power density cabinets. Additionally, the Exchange proposes to
offer a new choice of patch cable, twinaxial (otherwise known as
``Twinax'') cables, in lengths of one meter to five meters. The
proposed fee for the Twinax cables is $34 + $10 per meter. The Exchange
is making the Twinax cables available as a convenience to customers,
and notes that use of Exchange-provided patch cords is completely
voluntary, and that such patch cords may be freely obtained from other
vendors for use by customers in the datacenter.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\3\ in general, and with
Section 6(b)(4) of the Act,\4\ in particular, in that it provides for
the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility or
system which the Exchange operates or controls.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f.
\4\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
The Exchange operates in a highly competitive market, in which
exchanges offer co-location services as a means to facilitate the
trading activities of those members who believe that co-location
enhances the efficiency of their trading. Accordingly, fees charged for
co-location services are constrained by the active competition for the
order flow of such members. If a particular exchange charges excessive
fees for co-location services, affected members will opt to terminate
their co-location arrangements with that exchange, and adopt a possible
range of alternative strategies, including co-locating with a different
exchange, placing their servers in a physically proximate location
outside the exchange's data center, or pursuing trading strategies not
dependent upon co-location. Accordingly, the exchange charging
excessive fees would stand to lose not only co-location revenues but
also revenues associated with the execution of orders routed to it by
affected members. The Exchange believes that this competitive dynamic
imposes powerful restraints on the ability of any exchange to charge
unreasonable fees for co-location services.
It should be noted, however, that the costs associated with
operating a co-location facility, like the costs of operating the
electronic trading facility with which the co-location facility is
associated, are primarily fixed costs, and in the case of co-location
are primarily the costs of renting or owning data center space and
retaining a staff of technical personnel. Accordingly, the Exchange
establishes a range of co-location fees with the goal of covering these
fixed costs, covering less significant marginal costs, such as the cost
of electricity, and providing the Exchange a profit to the extent the
costs are covered. Because fixed costs must be allocated among all
customers, the Exchange's fee schedule reflects an effort to assess a
range of relatively low fees for specific aspects of co-location
services, which, in the aggregate, will allow the Exchange to cover its
costs and to the extent the costs are covered, allow the Exchange to
earn a profit.
In the case of the proposed fees for a pair of the 60 amp power
receptacles and the Twinax cables, the proposed fees cover the marginal
costs of establishing and maintaining the electrical installation, the
costs of obtaining the cable equipment from the Exchange's vendors, and
allow the Exchange to earn a profit; [sic] to the extent the costs are
covered. Accordingly, the Exchange believes that it is reasonable to
use fees assessed on this basis as a means to recoup a share of fixed
costs associated with the proposed power and cable options, provide a
convenience for the customers and to the extent the costs are covered,
provide a profit to the Exchange.
The Exchange also notes that the fees charged by the Exchange are
generally lower or comparable to prices charged by other exchanges or
unregulated vendors for similar services. For instance, NYSE Arca, Inc.
charges for the power installation by including it in a higher install
for the co-location cabinet.\5\ With respect to the proposed fees for
Twinax cables, the fees charged by the Exchange are generally lower or
comparable to prices charged by unregulated vendors for similar
products. See https://www.google.com/products/
catalog?hl=en&biw=1259&bih=813&q=Twinax+cable&um=1&ie=UTF-
8&tbm=shop&cid=15023972358025904938&sa=X&ei=8tDfTaOwIcHagQeVu6DUCg&ved=0
CDcQ8wIwAw#.
---------------------------------------------------------------------------
\5\ See Release No. 63275 (November 8, 2010) at page 4, 75 FR
70048 (November 16, 2010) (SR-NYSEArca-2010-100) [sic].
---------------------------------------------------------------------------
Furthermore, because the proposed services are available to all
members through optional co-location services, the Exchange's fees for
proposed co-location services are reasonable and equitably allocated
across the membership. All co-location customers are offered the same
range of products and services and there is no differentiation among
customers with regard to the fees charged for a particular product,
service, or piece of equipment.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
result in any burden on competition that is not
[[Page 38712]]
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
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\6\ 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.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(a)(ii).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
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-BX-2011-037 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-BX-2011-037. 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 will also be available for
inspection and copying at the principal office of the self-regulatory
organization. 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-BX-
2011-037 and should be submitted on or before July 22, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-16570 Filed 6-30-11; 8:45 am]
BILLING CODE 8011-01-P