Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX LLC To Extend the Waiver of Certain Co-Location Installation Fees for an Additional Month, 41536-41537 [2011-17683]
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41536
Federal Register / Vol. 76, No. 135 / Thursday, July 14, 2011 / Notices
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–BX–2011–043 and should
be submitted on or before August 4,
2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Cathy H. Ahn,
Deputy Secretary.
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.
BILLING CODE 8011–01–P
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
1. Purpose
[FR Doc. 2011–17679 Filed 7–13–11; 8:45 am]
[Release No. 34–64842; File No. SR–Phlx–
2011–97]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NASDAQ
OMX PHLX LLC To Extend the Waiver
of Certain Co-Location Installation
Fees for an Additional Month
July 8, 2011.
wreier-aviles on DSKGBLS3C1PROD with NOTICES
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 July 1,
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
Fee Schedule to extend the waiver of
fees assessed for the installation of
certain co-location services for an
additional month.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxphlx.cchwallstreet.com/, at
the principal office of the Exchange, at
the Commission’s Public Reference
Room, and at the Commission’s Web
site at https://www.sec.gov.
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
The Exchange proposes to amend the
Phlx Fee Schedule to extend for a onemonth period the initial waiver of fees
assessed for the installation of certain
co-location services, in order to provide
its existing and potential new customers
a full opportunity to avail themselves of
the waiver. The initial waiver of fees for
the installation of certain co-location
services commenced June 1, 2011 and
ended June 30, 2011.3 Since the initial
waiver, there has been significant
demand for the select co-location
services by existing customers, as well
as new customers. However, the
Exchange has become aware that a
significant number of new and existing
customers are unable to complete their
requests by June 30, 2011 due to the
need for additional time to order new
equipment to be housed in the cabinets,
or, to complete the internal approval
process for the ongoing monthly fees
that will be incurred as part of the
service. Therefore, the Exchange
proposes to extend the waiver of fees
until July 29, 2011 (the ‘‘extended
period’’). Beginning August 1, 2011, the
above-referenced waived fees will revert
to the amount in effect prior to June 1,
2011. The Exchange proposes to extend
the waiver of the following installation
fees during the extended period:
1. Section X(a): Installation fees for
new cabinets with power.
2. Section X(b): Installation fees for
external telecommunication, intercabinet connectivity, connectivity to
The Nasdaq Stock Market LLC and
market data connectivity related to an
order for a new cabinet. However, the
one-time telecommunication
10 17
1 15
VerDate Mar<15>2010
14:55 Jul 13, 2011
3 See Securities Exchange Act Release No. 64629
(June 8, 2011) (SR–Phlx–2011–77).
Jkt 223001
PO 00000
Frm 00089
Fmt 4703
Sfmt 4703
connectivity expedite fee 4 will not be
waived during the extended period.
3. Section X(c): Installation fees for
cabinet power related to an order for a
new cabinet.
4. Section X(d): Installation fees for
cooling fans, perforated floor tiles and
fiber downspouts, which are necessary
items to support a higher density
cabinet and fiber cross connects,
relating to an order for a new cabinet
placed during the extended period.
Installation fees for other items that are
customized or options are not waived
during the extended period.
The following requirements must be
met to receive the waiver of the
installation fee:
1. The new cabinet order must be
placed in the CoLo Console 5 during the
designated period; and
2. The new cabinet must be live
within 90 days of the date of the order.6
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the Act,7
in general, and with Section 6(b)(4) of
the Act,8 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees and other charges
among members and issuers and other
persons using any facility or system
which the Exchange operates or
controls. The proposed fee waiver is
reasonable because it provides an
opportunity for all new customers and
all existing customer [sic] that desire
additional cabinet space to obtain that
space without incurring fees. This
decrease in fees provided a savings of
over $100,000 to customers that took
advantage of the fee waiver during the
month of June. In addition, the
Exchange believes that the fee waiver
results in an equitable allocation of fees
among the members of the Exchange.
Specifically, the Exchange believes that
by encouraging new and existing colocation customers to increase their
presence in the Exchange’s data center,
the Exchange will generate additional
4 The one-time telecommunication connectivity
expedite fee is a fee for an optional request to
complete the installation in a shorter time period
than the install timeframes.
5 The ‘‘CoLo Console’’ is a Web-based ordering
tool that is utilized by Phlx to place co-location
orders.
6 Exchange staff generally installs and makes
operational a new cabinet within 90 days of the
date of the order (the ‘‘live date’’). The estimated
live date is communicated to the customer.
However, there may be instances where the
customer desires the live date to be later than the
estimated live date provided by Exchange staff. In
such instances, the live date cannot extend beyond
90 days of the date of the order.
7 15 U.S.C. 78f.
8 15 U.S.C. 78f(b)(4).
E:\FR\FM\14JYN1.SGM
14JYN1
Federal Register / Vol. 76, No. 135 / Thursday, July 14, 2011 / Notices
order execution and data consumption
activity. If it materializes, such an
increase in activity would assist the
Exchange in controlling the charges it
imposes on members generally for their
use of a variety of Exchange services.
The waiver of fees is also equitably
allocated since all existing and potential
co-location customers may avail
themselves of the waiver during the
period of availability. Notably, during
June 2011, the preponderance of
customers availing themselves of the
waiver were existing, rather than new
customers, demonstrating the benefit of
the program to a variety of members.
Finally, extending the program for a
month will ensure that several
customers that have expressed an
interest in expanding their data center
presence but that have not yet been able
to do so will have the opportunity to
benefit from the waiver.
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
Written comments were neither
solicited nor received.
wreier-aviles on DSKGBLS3C1PROD with NOTICES
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.9 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:
9 15
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–Phlx–2011–97 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.
14:55 Jul 13, 2011
[FR Doc. 2011–17683 Filed 7–13–11; 8:45 am]
BILLING CODE 8011–01–P
10 17
Jkt 223001
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–64841; File No. SR–FINRA–
2011–032]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Implement Revolving
Door Restrictions on Former Officers
of FINRA
July 8, 2011.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
All submissions should refer to File
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
Number SR–Phlx–2011–97. This file
notice is hereby given that on July 1,
number should be included on the
2011, Financial Industry Regulatory
subject line if e-mail is used. To help the Authority, Inc. (‘‘FINRA’’) filed with the
Commission process and review your
Securities and Exchange Commission
comments more efficiently, please use
(‘‘SEC’’ or ‘‘Commission’’) the proposed
only one method. The Commission will rule change as described in Items I, II,
post all comments on the Commission’s and III below, which Items have been
Internet Web site (https://www.sec.gov/
prepared by FINRA. FINRA has
rules/sro.shtml).
designated the proposed rule change as
concerned solely with the
Copies of the submission, all
administration of the self-regulatory
subsequent amendments, all written
statements with respect to the proposed organization under Section
19(b)(3)(A)(iii) of the Act 3 and Rule
rule change that are filed with the
19b–4(f)(3) thereunder,4 which renders
Commission, and all written
the proposal effective upon receipt of
communications relating to the
this filing by the Commission. The
proposed rule change between the
Commission and any person, other than Commission is publishing this notice to
solicit comments on the proposed rule
those that may be withheld from the
change from interested persons.
public in accordance with the
provisions of 5 U.S.C. 552, will be
I. Self-Regulatory Organization’s
available for Web site viewing and
Statement of the Terms of Substance of
printing in the Commission’s Public
the Proposed Rule Change
Reference Room, 100 F Street, NE.,
Washington, DC 20549, on official
FINRA is proposing to amend (i)
business days between the hours of 10
FINRA Rule 9141 (Appearance and
a.m. and 3 p.m. Copies of the filing also Practice; Notice of Appearance) to
will be available for inspection and
prohibit a former officer of FINRA, for
copying at the principal office of the
a period of one year after termination of
Exchange. All comments received will
employment with FINRA, from making
be posted without change; the
an appearance before an adjudicator on
Commission does not edit personal
behalf of any other person under the
identifying information from
FINRA Rule 9000 Series; and (ii) FINRA
submissions. You should submit only
Rule 9242 (Pre-hearing Submission) to
information that you wish to make
prohibit a former officer of FINRA, for
available publicly.
a period of one year after termination of
employment with FINRA, from
All submissions should refer to File
providing expert testimony on behalf of
Number SR–Phlx–2011–97 and should
any other person under the FINRA Rule
be submitted on or before August 4,
9000 Series.
2011.
The text of the proposed rule change
For the Commission, by the Division of
is available on FINRA’s Web site at
Trading and Markets, pursuant to delegated
https://www.finra.org, at the principal
authority.10
office of FINRA and at the
Cathy H. Ahn,
Commission’s Public Reference Room.
Deputy Secretary.
U.S.C. 78s(b)(3)(A)(ii).
VerDate Mar<15>2010
41537
PO 00000
Fmt 4703
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(3).
2 17
CFR 200.30–3(a)(12).
Frm 00090
1 15
Sfmt 4703
E:\FR\FM\14JYN1.SGM
14JYN1
]]>Agencies
[Federal Register Volume 76, Number 135 (Thursday, July 14, 2011)]
[Notices]
[Pages 41536-41537]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-17683]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-64842; File No. SR-Phlx-2011-97]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX LLC To Extend
the Waiver of Certain Co-Location Installation Fees for an Additional
Month
July 8, 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 July 1, 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.
---------------------------------------------------------------------------
\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 the Fee Schedule to extend the
waiver of fees assessed for the installation of certain co-location
services for an additional month.
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqomxphlx.cchwallstreet.com/, at the principal
office of the Exchange, at the Commission's Public Reference Room, and
at 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 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 the Phlx Fee Schedule to extend for
a one-month period the initial waiver of fees assessed for the
installation of certain co-location services, in order to provide its
existing and potential new customers a full opportunity to avail
themselves of the waiver. The initial waiver of fees for the
installation of certain co-location services commenced June 1, 2011 and
ended June 30, 2011.\3\ Since the initial waiver, there has been
significant demand for the select co-location services by existing
customers, as well as new customers. However, the Exchange has become
aware that a significant number of new and existing customers are
unable to complete their requests by June 30, 2011 due to the need for
additional time to order new equipment to be housed in the cabinets,
or, to complete the internal approval process for the ongoing monthly
fees that will be incurred as part of the service. Therefore, the
Exchange proposes to extend the waiver of fees until July 29, 2011 (the
``extended period''). Beginning August 1, 2011, the above-referenced
waived fees will revert to the amount in effect prior to June 1, 2011.
The Exchange proposes to extend the waiver of the following
installation fees during the extended period:
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 64629 (June 8, 2011)
(SR-Phlx-2011-77).
---------------------------------------------------------------------------
1. Section X(a): Installation fees for new cabinets with power.
2. Section X(b): Installation fees for external telecommunication,
inter-cabinet connectivity, connectivity to The Nasdaq Stock Market LLC
and market data connectivity related to an order for a new cabinet.
However, the one-time telecommunication connectivity expedite fee \4\
will not be waived during the extended period.
---------------------------------------------------------------------------
\4\ The one-time telecommunication connectivity expedite fee is
a fee for an optional request to complete the installation in a
shorter time period than the install timeframes.
---------------------------------------------------------------------------
3. Section X(c): Installation fees for cabinet power related to an
order for a new cabinet.
4. Section X(d): Installation fees for cooling fans, perforated
floor tiles and fiber downspouts, which are necessary items to support
a higher density cabinet and fiber cross connects, relating to an order
for a new cabinet placed during the extended period. Installation fees
for other items that are customized or options are not waived during
the extended period.
The following requirements must be met to receive the waiver of the
installation fee:
1. The new cabinet order must be placed in the CoLo Console \5\
during the designated period; and
---------------------------------------------------------------------------
\5\ The ``CoLo Console'' is a Web-based ordering tool that is
utilized by Phlx to place co-location orders.
---------------------------------------------------------------------------
2. The new cabinet must be live within 90 days of the date of the
order.\6\
---------------------------------------------------------------------------
\6\ Exchange staff generally installs and makes operational a
new cabinet within 90 days of the date of the order (the ``live
date''). The estimated live date is communicated to the customer.
However, there may be instances where the customer desires the live
date to be later than the estimated live date provided by Exchange
staff. In such instances, the live date cannot extend beyond 90 days
of the date of the order.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\7\ in general, and with
Section 6(b)(4) of the Act,\8\ in particular, in that it provides for
the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility or
system which the Exchange operates or controls. The proposed fee waiver
is reasonable because it provides an opportunity for all new customers
and all existing customer [sic] that desire additional cabinet space to
obtain that space without incurring fees. This decrease in fees
provided a savings of over $100,000 to customers that took advantage of
the fee waiver during the month of June. In addition, the Exchange
believes that the fee waiver results in an equitable allocation of fees
among the members of the Exchange. Specifically, the Exchange believes
that by encouraging new and existing co-location customers to increase
their presence in the Exchange's data center, the Exchange will
generate additional
[[Page 41537]]
order execution and data consumption activity. If it materializes, such
an increase in activity would assist the Exchange in controlling the
charges it imposes on members generally for their use of a variety of
Exchange services. The waiver of fees is also equitably allocated since
all existing and potential co-location customers may avail themselves
of the waiver during the period of availability. Notably, during June
2011, the preponderance of customers availing themselves of the waiver
were existing, rather than new customers, demonstrating the benefit of
the program to a variety of members. Finally, extending the program for
a month will ensure that several customers that have expressed an
interest in expanding their data center presence but that have not yet
been able to do so will have the opportunity to benefit from the
waiver.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f.
\8\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
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
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.\9\ 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.
---------------------------------------------------------------------------
\9\ 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-Phlx-2011-97 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-2011-97. 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-2011-97 and
should be submitted on or before August 4, 2011.
---------------------------------------------------------------------------
\10\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-17683 Filed 7-13-11; 8:45 am]
BILLING CODE 8011-01-P
