Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fee Schedule Relating to Manual Orders, 78066-78068 [2011-32138]

Download as PDF 78066 Federal Register / Vol. 76, No. 241 / Thursday, December 15, 2011 / Notices believes that the Permit Fee is equitable and not unfairly discriminatory, because unlike other exchanges, Phlx’s Permit Fees are the same for every options permit holder that is conducting business at the Exchange. The Exchange believes that its clarifying amendment is reasonable the Exchange recognizes that the members and member organizations that are registered as OCC Clearing Members and Floor Brokers facilitate transactions for others at the Exchange and are therefore unable to utilize the house account in the same way as other members. In addition, the Exchange believes that it is reasonable to assess a $1,100 Permit Fee for OCC Clearing Members and Floor Brokers that are transacting business at the Exchange in a capacity that facilitates trading. The Exchange believes that it is equitable and not unfairly discriminatory to assess OCC Clearing Members and Floor Brokers the $1,100 as compared to other members who may not transact business, because the OCC Clearing Member and Floor Broker are trading for others as compared to the member who chooses whether to transact business in his/her own account. Other members are only required to transact one trade in their house account in order to be assessed the lower Permit Fee. 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 mstockstill on DSK4VPTVN1PROD 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 Trading Permit is $6,000, Electronic Access Permit is $1,600 and there is no access fee for a CBSX Trading Permit. See also the International Securities Exchange LLC’s Schedule of Fees. Per month a EAM is $500.00 and a market maker ranges from $2,000 to $4,000. See also C2, Inc.’s Fee Schedule. Per month, a market-maker permit is $5,000, an Electronic Access Permit is $1,000 and a SPXM Tier appointment is $4,000 after November 30, 2011. See also NYSE Arca, Inc.’s Fee Schedule. Per month, a Floor Broker, Office and Clearing Firm is $1,000 and a market maker is $4,000. See also NYSE Amex, LLC’s Fee Schedule. Per month, Per month, a Floor Broker, Order Routing and Clearing Firm is $500 and a market maker is $5,000. VerDate Mar<15>2010 16:49 Dec 14, 2011 Jkt 226001 19(b)(3)(A)(ii) of the Act.14 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 • Send an email to rulecomments@sec.gov. Please include File No. SR–Phlx–2011–166 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 No. SR–Phlx–2011–166. This file 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 such 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 No. SR–Phlx–2011– 166 and should be submitted on or before January 5, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2011–32140 Filed 12–14–11; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–65922; File No. SR– NYSEArca–2011–91] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE Arca Options Fee Schedule Relating to Manual Orders December 9, 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 December 1, 2011, NYSE Arca, Inc. (the ‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 the NYSE Arca Options Fee Schedule (‘‘Fee Schedule’’) with respect to manual orders. The Exchange proposes to make the rule change operative on December 1, 2011. The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and https://www.nyse.com. 15 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 14 15 PO 00000 U.S.C. 78s(b)(3)(A)(ii). Frm 00104 Fmt 4703 Sfmt 4703 E:\FR\FM\15DEN1.SGM 15DEN1 Federal Register / Vol. 76, No. 241 / Thursday, December 15, 2011 / 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 self-regulatory organization 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 those 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 parts 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 Fee Schedule with respect to manual orders. Electronic orders and quotes resting on the Consolidated Book currently have priority over equal-priced bids or offers in the Trading Crowd.3 In this regard, a Floor Broker, after negotiating a price with the Trading Crowd, may be required to trade against resting interest on the Consolidated Book (‘‘clear the Book’’) before trading against interest in the Trading Crowd. Currently, if a Floor Broker clears the Book before trading against interest in the Trading Crowd, the Exchange charges the portion of the order executed against the Consolidated Book an electronic transaction fee and charges any remaining order size that trades against interest in the Trading Crowd a manual transaction fee.4 The Exchange proposes to amend endnote 5 of the Fee Schedule to reflect that a manual order that executes in part against an electronic order or quote resting on the Consolidated Book prior to executing against interest in the 3 See NYSE Arca Options Rule 6.75(a) and (b). example, a Broker-Dealer manual order is currently charged a standard execution fee of $0.25 per contract. However, if a portion of the BrokerDealer manual order executes against resting interest on the Consolidated Book, then that portion of the manual order is instead charged the $0.50 per-contract rate for a Broker-Dealer electronic order. Similarly, if the Broker-Dealer manual order is in a Penny Pilot class and executes against resting interest on the Consolidated Book, then that portion of the manual order is considered to ‘‘Take Liquidity’’ and is instead charged the $0.45 percontract rate for a Broker-Dealer electronic order. The Exchange notes that, at the time of the adoption of Post-Take pricing for electronic executions in Penny Pilot classes, the Exchange determined that any execution in Penny Pilot issues against resting orders in the Consolidated Book would be charged a ‘‘take liquidity’’ fee. See Securities Exchange Act Release No. 55223 (February 1, 2007), 72 FR 6306 (February 9, 2007) (SR–NYSEArca–2007–07). mstockstill on DSK4VPTVN1PROD with NOTICES 4 For VerDate Mar<15>2010 16:49 Dec 14, 2011 Jkt 226001 Trading Crowd would be assessed the applicable manual transaction fee for the entire order. As is the case today, the contra-side electronic order or quote would be assessed the applicable electronic transaction fee or credit. However, if a manual order executes completely against an electronic order or quote, and therefore does not execute against interest in the Trading Crowd, then both sides of the transaction would continue to be charged only the applicable electronic transaction fee. In order to be eligible for the manual transaction fee, all manual orders must be entered into the Exchange’s Electronic Order Capture System. The Exchange proposes to make the rule change operative on December 1, 2011. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (the ‘‘Act’’),5 in general, and Section 6(b)(4) of the Act,6 in particular, because it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among its members and other persons using its facilities. In addition, the proposed rule change is not designed to permit unfair discrimination between customers, issuers, brokers or dealers. Under the proposed change a manual order that executes partially against an electronic order or quote resting on the Consolidated Book prior to executing against interest in the Trading Crowd would be assessed the applicable manual transaction fee for the entire order. The Exchange believes that this is reasonable, equitable, and not unfairly discriminatory because a customer who sends an order to the Floor for execution has no control over whether a portion of the manual order will execute against the Consolidated Book and therefore has significant uncertainty about the transaction fees applicable to such order, whereas a customer that submits an electronic order has certainty that only electronic transaction fees will apply. The Exchange also believes it is reasonable, equitable, and not unfairly discriminatory to charge the electronic transaction fee for manual orders that are executed entirely against one or more electronic orders or quotes resting on the Consolidated Book. Manual transaction fees are lower than electronic transaction fees and the proposed rule change will reduce the incentive for customers to submit manual orders to obtain the lower fee 5 15 6 15 PO 00000 U.S.C. 78f(b). U.S.C. 78f(b)(4). Frm 00105 Fmt 4703 even though there is sufficient liquidity in the Consolidated Book to fill the order. When both sides of the order execute fully on the Consolidated Book, the Exchange believes it is equitable and not unfairly discriminatory to charge both sides of the trade the same category of transaction fee. The Exchange expects that by providing more certainty about the applicable transaction fees, customers will be encouraged to submit manual orders to the Exchange and that the additional order flow will benefit all market participants. 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 that is 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 solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A)(ii) of the Act 7 and subparagraph (f)(2) of Rule 19b–4 8 thereunder, because it establishes a due, fee, or other charge imposed by NYSE Arca. At any time within 60 days of the filing of such 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. 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–NYSEArca–2011–91 on the subject line. 7 15 8 17 Sfmt 4703 78067 E:\FR\FM\15DEN1.SGM U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 15DEN1 78068 Federal Register / Vol. 76, No. 241 / Thursday, December 15, 2011 / Notices 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–NYSEArca–2011–91. This file 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– Fax: (202) 395–6974, Email address: OIRA_Submission@omb.eop.gov. (SSA), Social Security Administration, DCRDP, Attn: Reports Clearance Officer, 107 Altmeyer Building, 6401 Security Blvd., Baltimore, MD 21235, Fax No.: (410) 966–2830, Email address: OPLM.RCO@ssa.gov. NYSEArca–2011–91 and should be submitted on or before January 5, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2011–32138 Filed 12–14–11; 8:45 am] BILLING CODE 8011–01–P I. The information collections below are pending at SSA. SSA will submit them to OMB within 60 days from the date of this notice. To be sure we consider your comments, we must receive them no later than February 13, 2012. Individuals can obtain copies of the collection instruments by calling the SSA Reports Clearance Officer at (410) 965–8783 or by writing to the above email address. 1. Application for Mother’s or Father’s Insurance Benefits—20 CFR 404.339– 404.342, 20 CFR 404.601–404.603— 0960–0003. Section 202(g) of the Social Security Act (Act) provides for the payment of monthly benefits to the widow or widower of an insured individual if the surviving spouse is caring for the deceased worker’s child (who is entitled to Social Security benefits). SSA uses the information on Form SSA–5–F6 to determine an individual’s eligibility for mother’s or father’s insurance benefits. The respondents are individuals caring for a child of the deceased worker who is applying for mother’s or father’s insurance benefits under the Old Age, Survivors, and Disability Insurance (OASDI) program. Type of Request: Revision of an OMBapproved information collection. SOCIAL SECURITY ADMINISTRATION Agency Information Collection Activities: Proposed Request and Comment Request The Social Security Administration (SSA) publishes a list of information collection packages requiring clearance by the Office of Management and Budget (OMB) in compliance with Public Law (Pub. L.) 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. This notice includes revisions and extensions to OMB-approved information collections. SSA is soliciting comments on the accuracy of the agency’s burden estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Mail, email, or fax your comments and recommendations on the information collection(s) to the OMB Desk Officer and SSA Reports Clearance Officer at the following addresses or fax numbers. (OMB), Office of Management and Budget, Attn: Desk Officer for SSA, Number of respondents Collection instrument Average burden per response (minutes) Frequency of response Estimated total annual burden (hours) SSA–5–F6 (paper) ........................................................................... MCS ................................................................................................. MCS/Signature Proxy ...................................................................... 1,611 26,045 26,044 1 1 1 15 15 15 403 6,511 6,511 Total .......................................................................................... 53,700 ............................ ............................ 13,425 mstockstill on DSK4VPTVN1PROD with NOTICES 2. Letter to Employer Requesting Information About Wages Earned by Beneficiary—20 CFR 416.703 & 404.801—0960–0034. SSA uses information from Form SSA–L725 to verify a beneficiary’s wages when SSA has incomplete or questionable wage data. SSA uses the information to calculate the correct amount of benefits payable, and to maintain an accurate record of earnings for the beneficiary. Respondents are employers who provide information SSA needs to establish specific monthly earnings. Type of Request: Extension of an OMB-approved information collection. Collection instrument Number of respondents Frequency of response Average burden per response (minutes) Estimated total annual burden (hours) SSA–L725 ........................................................................................ 150,000 1 40 100,000 9 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 19:28 Dec 14, 2011 Jkt 226001 PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 E:\FR\FM\15DEN1.SGM 15DEN1

Agencies

[Federal Register Volume 76, Number 241 (Thursday, December 15, 2011)]
[Notices]
[Pages 78066-78068]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-32138]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-65922; File No. SR-NYSEArca-2011-91]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change To Amend the NYSE 
Arca Options Fee Schedule Relating to Manual Orders

December 9, 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 December 1, 2011, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE 
Arca'') 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 the NYSE Arca Options Fee Schedule 
(``Fee Schedule'') with respect to manual orders. The Exchange proposes 
to make the rule change operative on December 1, 2011. The text of the 
proposed rule change is available at the Exchange, the Commission's 
Public Reference Room, and https://www.nyse.com.

[[Page 78067]]

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 on the 
proposed rule change. The text of those 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 parts 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 Fee Schedule with respect to 
manual orders.
    Electronic orders and quotes resting on the Consolidated Book 
currently have priority over equal-priced bids or offers in the Trading 
Crowd.\3\ In this regard, a Floor Broker, after negotiating a price 
with the Trading Crowd, may be required to trade against resting 
interest on the Consolidated Book (``clear the Book'') before trading 
against interest in the Trading Crowd. Currently, if a Floor Broker 
clears the Book before trading against interest in the Trading Crowd, 
the Exchange charges the portion of the order executed against the 
Consolidated Book an electronic transaction fee and charges any 
remaining order size that trades against interest in the Trading Crowd 
a manual transaction fee.\4\
---------------------------------------------------------------------------

    \3\ See NYSE Arca Options Rule 6.75(a) and (b).
    \4\ For example, a Broker-Dealer manual order is currently 
charged a standard execution fee of $0.25 per contract. However, if 
a portion of the Broker-Dealer manual order executes against resting 
interest on the Consolidated Book, then that portion of the manual 
order is instead charged the $0.50 per-contract rate for a Broker-
Dealer electronic order. Similarly, if the Broker-Dealer manual 
order is in a Penny Pilot class and executes against resting 
interest on the Consolidated Book, then that portion of the manual 
order is considered to ``Take Liquidity'' and is instead charged the 
$0.45 per-contract rate for a Broker-Dealer electronic order. The 
Exchange notes that, at the time of the adoption of Post-Take 
pricing for electronic executions in Penny Pilot classes, the 
Exchange determined that any execution in Penny Pilot issues against 
resting orders in the Consolidated Book would be charged a ``take 
liquidity'' fee. See Securities Exchange Act Release No. 55223 
(February 1, 2007), 72 FR 6306 (February 9, 2007) (SR-NYSEArca-2007-
07).
---------------------------------------------------------------------------

    The Exchange proposes to amend endnote 5 of the Fee Schedule to 
reflect that a manual order that executes in part against an electronic 
order or quote resting on the Consolidated Book prior to executing 
against interest in the Trading Crowd would be assessed the applicable 
manual transaction fee for the entire order. As is the case today, the 
contra-side electronic order or quote would be assessed the applicable 
electronic transaction fee or credit. However, if a manual order 
executes completely against an electronic order or quote, and therefore 
does not execute against interest in the Trading Crowd, then both sides 
of the transaction would continue to be charged only the applicable 
electronic transaction fee. In order to be eligible for the manual 
transaction fee, all manual orders must be entered into the Exchange's 
Electronic Order Capture System.
    The Exchange proposes to make the rule change operative on December 
1, 2011.
 2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Securities Exchange Act of 1934 (the 
``Act''),\5\ in general, and Section 6(b)(4) of the Act,\6\ in 
particular, because it is designed to provide for the equitable 
allocation of reasonable dues, fees, and other charges among its 
members and other persons using its facilities. In addition, the 
proposed rule change is not designed to permit unfair discrimination 
between customers, issuers, brokers or dealers. Under the proposed 
change a manual order that executes partially against an electronic 
order or quote resting on the Consolidated Book prior to executing 
against interest in the Trading Crowd would be assessed the applicable 
manual transaction fee for the entire order. The Exchange believes that 
this is reasonable, equitable, and not unfairly discriminatory because 
a customer who sends an order to the Floor for execution has no control 
over whether a portion of the manual order will execute against the 
Consolidated Book and therefore has significant uncertainty about the 
transaction fees applicable to such order, whereas a customer that 
submits an electronic order has certainty that only electronic 
transaction fees will apply. The Exchange also believes it is 
reasonable, equitable, and not unfairly discriminatory to charge the 
electronic transaction fee for manual orders that are executed entirely 
against one or more electronic orders or quotes resting on the 
Consolidated Book. Manual transaction fees are lower than electronic 
transaction fees and the proposed rule change will reduce the incentive 
for customers to submit manual orders to obtain the lower fee even 
though there is sufficient liquidity in the Consolidated Book to fill 
the order. When both sides of the order execute fully on the 
Consolidated Book, the Exchange believes it is equitable and not 
unfairly discriminatory to charge both sides of the trade the same 
category of transaction fee. The Exchange expects that by providing 
more certainty about the applicable transaction fees, customers will be 
encouraged to submit manual orders to the Exchange and that the 
additional order flow will benefit all market participants.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 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 that is 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 solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change is effective upon filing pursuant to 
Section 19(b)(3)(A)(ii) of the Act \7\ and subparagraph (f)(2) of Rule 
19b-4 \8\ thereunder, because it establishes a due, fee, or other 
charge imposed by NYSE Arca. At any time within 60 days of the filing 
of such 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-NYSEArca-2011-91 on the subject line.

[[Page 78068]]

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-NYSEArca-2011-91. This 
file 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-NYSEArca-2011-91 and should 
be submitted on or before January 5, 2012.

    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. 2011-32138 Filed 12-14-11; 8:45 am]
BILLING CODE 8011-01-P
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