Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Customer Rebates To Add Liquidity, 64403 [C1-2011-24868]

Download as PDF Federal Register / Vol. 76, No. 201 / Tuesday, October 18, 2011 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–65381; File No. SR– NASDAQ–2011–128] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Customer Rebates To Add Liquidity September 22, 2011. Correction In notice document 2011–24868 appearing on pages 60103–60106 in the issue of September 28, 2011, make the following correction: On page 60106, in the first column, in the first paragraph, in the last line, ‘‘September 28, 2011’’ should read ‘‘October 19, 2011’’. [FR Doc. C1–2011–24868 Filed 10–17–11; 8:45 am] BILLING CODE 1505–01–D SECURITIES AND EXCHANGE COMMISSION [Release No. 34–65539; File No. SR–FICC– 2011–07] Self-Regulatory Organizations; The Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Make Technical Corrections to the Schedule of Timeframes, GCF Schedule of Timeframes, and Fee Structure in the GSD Rules mstockstill on DSK4VPTVN1PROD with NOTICES October 12, 2011. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on September 30, 2011, the Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change described in Items I and II below, which Items have been prepared primarily by FICC. FICC filed the proposal pursuant to Section 19(b)(3)(A)(ii) of the Act,2 and Rule 19b–4(f)(2) 3 and Rule 19b–4(f)(4) 4 thereunder so that the proposal was effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the rule change from interested parties. 1 15 U.S.C. 78s(b)(1). U.S.C. 78s(b)(3)(A)(ii). 3 17 CFR 240.19b–4(f)(2). 4 17 CFR 240.19b–4(f)(4). 16:46 Oct 17, 2011 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FICC 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. FICC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.5 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of this filing is to make technical corrections to the Schedule of Timeframes, the GCF Schedule of Timeframes, and the Fee Structure as described below. 1. Schedule of Timeframes The GSD Schedule of Timeframes is being updated to incorporate timeframes relating to the intraday collection of funds-only settlement and Clearing Fund amounts that were approved in connection with the SR–FICC–2010–09 rule filing.6 The Schedule of Timeframes is also being revised to make certain other technical changes. 2. Schedule of GCF Timeframes The Schedule of GCF Timeframes is being corrected to reflect that GCF Repo® trading is available to GCF brokers at 7 a.m. 3. Fee Structure Corrections The following corrections are made to reflect fees that members are currently being charged: Subsection A ‘‘Trade Submission’’ under ‘‘Trade Comparison Fees’’ currently describes trade submissions as including a submission of a side of a trade and a submission of a Repo Transaction. This is being corrected to make clear that Trade Submissions also include demand and bilateral submissions. 5 The Commission has modified the text of the summaries prepared by FICC. 6 Securities Exchange Act Release No. 34–63986 (February 28, 2011), 76 FR 12144 (March 4, 2011). 2 15 VerDate Mar<15>2010 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change will make technical corrections to the Schedule of Timeframes, GCF Schedule of Timeframes, and Fee Structure in the GSD Rules. Jkt 226001 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 64403 Subsection D ‘‘Modifications and Cancellations’’ under ‘‘Trade Comparison Fees’’ currently states that the charge to a Member for the entry of a request to modify or cancel a side of a GCF Repo Transaction is 5 cents per such request. This is being corrected to state that the charge is 5 cents per 50 million of par value. The fee provided under Subsection E ‘‘Demand and Locked-In Trade Data’’ under ‘‘Trade Comparison Fees’’ currently states that fees for data received on a demand or locked-in basis related to a side of a trade or a Repo Transaction is 16 cents per 50 million increment. This is being corrected to state that this fee only applies to a Locked-In Trade Source related to a side of a trade, to clarify that the 50 million is of par value, and to delete the dollar sign ($) reference to par value. Under ‘‘Netting Fee and Charges,’’ with respect to the ‘‘Netting Fee’’ (1) the references to ‘‘par value’’ incorrectly include a dollar sign ($); and (2) the Fail Deliver Obligation and Fail Receive Obligation currently states that the fee equals the sum of (i) $0.16 and (ii) $0.012 per $1 million of par value. This is being corrected to state that the fee equals the sum of (i) $0.18 and $0.018 per 1 million of par value. Under ‘‘Auction Takedown Process’’ of this same section, the fee in connection with locked in trades is clarified to state that the fee is $.50 per 50 million of par value increment. FICC believes that the proposed rule change is consistent with the requirements of Section 17A of the Act 7 and the rules and regulations thereunder applicable to FICC because it facilitates the prompt and accurate clearance and settlement of securities by ensuring that FICC rules are consistent and accurate. (B) Self-Regulatory Organization’s Statement on Burden on Competition FICC does not believe that the proposed rule change will have any impact or impose any burden on competition. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments relating to the proposed rule change have not been solicited or received. FICC will notify the Commission of any written comments received by FICC. 7 15 E:\FR\FM\18OCN1.SGM U.S.C. 78q–1. 18OCN1

Agencies

[Federal Register Volume 76, Number 201 (Tuesday, October 18, 2011)]
[Notices]
[Page 64403]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: C1-2011-24868]



[[Page 64403]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65381; File No. SR-NASDAQ-2011-128]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to Customer Rebates To Add Liquidity

September 22, 2011.

Correction

    In notice document 2011-24868 appearing on pages 60103-60106 in the 
issue of September 28, 2011, make the following correction:
    On page 60106, in the first column, in the first paragraph, in the 
last line, ``September 28, 2011'' should read ``October 19, 2011''.

[FR Doc. C1-2011-24868 Filed 10-17-11; 8:45 am]
BILLING CODE 1505-01-D