Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Delay Implementation of a Recently Effective Modification to the Operation of the Minimum Quantity Order on the NASDAQ OMX PSX, 75572-75573 [2011-30981]
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Federal Register / Vol. 76, No. 232 / Friday, December 2, 2011 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2011–30980 Filed 12–1–11; 8:45 am]
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
[Release No. 34–65832; File No. SR–Phlx–
2011–159]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Delay
Implementation of a Recently Effective
Modification to the Operation of the
Minimum Quantity Order on the
NASDAQ OMX PSX
November 28, 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 November
23, 2011, NASDAQ OMX PHLX LLC
(‘‘Phlx’’) 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 Phlx. 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
Phlx is filing this proposed rule
change to delay implementation of a
recently effective modification to the
operation of the Minimum Quantity
Order on the NASDAQ OMX PSX
(‘‘PSX’’) system. Phlx proposes to
implement the rule change prior to
December 31, 2011. The text of the
proposed rule change is available at
https://
nasdaqomxphlx.cchwallstreet.com/
nasdaqomxphlx/phlx, at Phlx’s
principal office, and at the
Commission’s Public Reference Room.
jlentini on DSK4TPTVN1PROD with NOTICES
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
13 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
19:31 Dec 01, 2011
Jkt 226001
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.
1. Purpose
Phlx recently submitted a filing to
modify the functionality of its Minimum
Quantity Order.3 In the filing, Phlx
stated that it expected to implement the
modification on or before November 30,
2011. Due to delays in programming the
change for use on PSX, Phlx is delaying
implementation of the change until
December, likely on December 19, 2011.
If Phlx does not implement the
proposed rule change by December 31,
2011, Phlx will submit a further
proposed rule change to reflect such
delay.4
2. Statutory Basis
Phlx believes that the proposed rule
change is consistent with the provisions
of Section 6 of the Act,5 in general, and
with Section 6(b)(5) of the Act,6 in
particular, in that the proposal is
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, 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 of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest. Specifically, Phlx
believes that the change to the
functioning of the Minimum Quantity
Order will provide market participants
with better control over their trading
patterns, thereby providing them with
greater potential to improve the quality
of their order executions. Phlx further
believes that the delayed
implementation date of the change will
3 Securities Exchange Act Release No. 65537
(October 12, 2011), 76 FR 64401 (October 18, 2011)
(SR–Phlx–2011–132).
4 Similar change to the Minimum Quantity Order
type offered by The NASDAQ Stock Market LLC
and NASDAQ OMX BX, Inc. were implemented on
November 14, 2011. See Securities Exchange Act
Release No. 65536 (October 12, 2011), 76 FR 64411
(October 18, 2011) (SR–NASDAQ–2011–140);
Securities Exchange Act Release No. 65535 (October
12, 2011), 76 FR 64416 (October 18, 2011) (SR–BX–
2011–069).
5 15 U.S.C. 78f.
6 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00055
Fmt 4703
Sfmt 4703
have no material impact on market
participants.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Phlx does not believe that the
proposed rule change will result in any
burden on competition that is not
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)
of the Act 7 and paragraph (f)(1) of Rule
19b–4 thereunder.8
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
change 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
• Send an email to rulecomments@sec.gov. Please include File
Number SR–Phlx–2011–159 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–2011–159. This file
7 15
8 17
E:\FR\FM\02DEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(1).
02DEN1
Federal Register / Vol. 76, No. 232 / Friday, December 2, 2011 / Notices
number should be included on the
subject line if email 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–
2011–159 and should be submitted on
or before December 23, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2011–30981 Filed 12–1–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65840; File No. SR–BX–
2011–071]
Self-Regulatory Organizations;
NASDAQ OMX BX, Inc.; Order
Approving Proposed Rule Change
With Respect to an Amendment to the
By-Laws of The NASDAQ OMX Group,
Inc.
2 17
jlentini on DSK4TPTVN1PROD with NOTICES
November 28, 2011.
On October 11, 2011, NASDAQ OMX
BX, Inc. (‘‘Exchange’’) 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 19b–4
9 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
VerDate Mar<15>2010
17:03 Dec 01, 2011
thereunder,2 a proposed rule change to
amend the by-laws of its parent
corporation, The NASDAQ OMX Group,
Inc. (‘‘NASDAQ OMX’’). The proposed
rule change was published for comment
in the Federal Register on October 28,
2011.3 The Commission received no
comments on the proposal.
After careful review, the Commission
finds that the proposed rule change is
consistent with the requirements of the
Act and the rules and regulations
thereunder applicable to a national
securities exchange 4 and, in particular,
the requirements of Section 6(b)(5) of
the Act.5 The proposal will allow the
NASDAQ OMX Board of Directors
(‘‘Board’’) to determine the size of its
Audit Committee, so long as the Audit
Committee includes at least three
directors, as well as the size of its
Nominating & Governance Committee,
so long as the Nominating & Governance
Committee includes at least two
directors. The proposal is intended to
provide greater flexibility to the
NASDAQ OMX Board to determine the
appropriate size for these committees.
The Commission notes that the
proposed rule change maintains
compliance with the Exchange’s listing
standards. The proposal does not
change any other compositional
requirements of either the Audit
Committee or the Nominating &
Governance Committee, including
independence requirements. Moreover,
the Commission notes that the proposal
does not alter the application of Section
10A of the Exchange Act 6 and Rule
10A–3 thereunder 7 to the NASDAQ
OMX Audit Committee. The proposal
also deletes an obsolete section from,
and corrects a typographical error in,
the NASDAQ OMX by-laws, which are
clarifying revisions. For the foregoing
reasons, the Commission believes that
the proposed rule change is consistent
with the Act.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,8 that the
proposed rule change (SR–BX–2011–
071) be, and it hereby is, approved.
Jkt 226001
CFR 240.19b–4.
Securities Exchange Act Release No. 65603
(October 21, 2011), 76 FR 67013.
4 In approving this proposed rule change, the
Commission has considered the proposed rule’s
impact on efficiency, competition, and capital
formation. See 15 U.S.C. 78c(f).
5 15 U.S.C. 78f(b)(5).
6 15 U.S.C. 78j–1.
7 17 CFR 240.10A–3.
8 15 U.S.C. 78s(b)(2).
3 See
PO 00000
Frm 00056
Fmt 4703
Sfmt 4703
75573
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2011–30982 Filed 12–1–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–65845; File No. SR–NYSE–
2011–59]
Self-Regulatory Organizations; New
York Stock Exchange LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Amending Its
Listed Company Manual To Apply
Listing and Annual Fees to Foreign
Private Issuers of Certain Debt
Securities
November 28, 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
November 18, 2011, the 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, 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
Listed Company Manual to include a fee
that it believes was inadvertently
omitted. In particular, the Exchange
proposes to apply Listing and Annual
fees to foreign private issuers of debt
securities listed under Section 103.05 of
the Listed Company Manual. The text of
the proposed rule change is available at
the Exchange, the Commission’s Public
Reference Room, and https://
www.nyse.com.
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
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\02DEN1.SGM
02DEN1
]]>Agencies
[Federal Register Volume 76, Number 232 (Friday, December 2, 2011)]
[Notices]
[Pages 75572-75573]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-30981]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-65832; File No. SR-Phlx-2011-159]
Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Delay
Implementation of a Recently Effective Modification to the Operation of
the Minimum Quantity Order on the NASDAQ OMX PSX
November 28, 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 November 23, 2011, NASDAQ OMX PHLX LLC (``Phlx'') 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 Phlx. 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
Phlx is filing this proposed rule change to delay implementation of
a recently effective modification to the operation of the Minimum
Quantity Order on the NASDAQ OMX PSX (``PSX'') system. Phlx proposes to
implement the rule change prior to December 31, 2011. The text of the
proposed rule change is available at https://nasdaqomxphlx.cchwallstreet.com/nasdaqomxphlx/phlx, at Phlx'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
Phlx recently submitted a filing to modify the functionality of its
Minimum Quantity Order.\3\ In the filing, Phlx stated that it expected
to implement the modification on or before November 30, 2011. Due to
delays in programming the change for use on PSX, Phlx is delaying
implementation of the change until December, likely on December 19,
2011. If Phlx does not implement the proposed rule change by December
31, 2011, Phlx will submit a further proposed rule change to reflect
such delay.\4\
---------------------------------------------------------------------------
\3\ Securities Exchange Act Release No. 65537 (October 12,
2011), 76 FR 64401 (October 18, 2011) (SR-Phlx-2011-132).
\4\ Similar change to the Minimum Quantity Order type offered by
The NASDAQ Stock Market LLC and NASDAQ OMX BX, Inc. were implemented
on November 14, 2011. See Securities Exchange Act Release No. 65536
(October 12, 2011), 76 FR 64411 (October 18, 2011) (SR-NASDAQ-2011-
140); Securities Exchange Act Release No. 65535 (October 12, 2011),
76 FR 64416 (October 18, 2011) (SR-BX-2011-069).
---------------------------------------------------------------------------
2. Statutory Basis
Phlx believes that the proposed rule change is consistent with the
provisions of Section 6 of the Act,\5\ in general, and with Section
6(b)(5) of the Act,\6\ in particular, in that the proposal is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, 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 of a
free and open market and a national market system, and, in general, to
protect investors and the public interest. Specifically, Phlx believes
that the change to the functioning of the Minimum Quantity Order will
provide market participants with better control over their trading
patterns, thereby providing them with greater potential to improve the
quality of their order executions. Phlx further believes that the
delayed implementation date of the change will have no material impact
on market participants.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f.
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
Phlx does not believe that the proposed rule change will result in
any burden on competition that is not 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) of the Act \7\ and paragraph (f)(1) of Rule 19b-4
thereunder.\8\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 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 change 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
Send an email to rule-comments@sec.gov. Please include
File Number SR-Phlx-2011-159 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-2011-159. This file
[[Page 75573]]
number should be included on the subject line if email 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-2011-159 and should be submitted on
or before December 23, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-30981 Filed 12-1-11; 8:45 am]
BILLING CODE 8011-01-P
