Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Reformatting the Fee Schedule, 4068-4070 [2012-1584]
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Federal Register / Vol. 77, No. 17 / Thursday, January 26, 2012 / Notices
identified above, as well as any others
they may have identified with the
proposed rule change, as amended. In
particular, the Commission invites the
written views of interested persons
concerning whether the proposed rule
change, as modified by Partial
Amendment No. 1, is inconsistent with
Section 15A(b)(6) or any other provision
of the Exchange Act, or the rules and
regulations thereunder.
Although there do not appear to be
any issues relevant to approval or
disapproval which would be facilitated
by an oral presentation of views, data,
and arguments, the Commission will
consider, pursuant to Rule 19b–4, any
request for an opportunity to make an
oral presentation.27
Interested persons are invited to
submit written data, views, and
arguments by [insert date 30 days from
publication in the Federal Register]
concerning Partial Amendment No. 1
and regarding whether the proposed
rule change, as modified by Partial
Amendment No. 1, should be approved
or disapproved. Any person who wishes
to file a rebuttal to any other person’s
submission must file that rebuttal by
March 12, 2012. 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–FINRA–2011–057 on the
subject line.
mstockstill on DSK4VPTVN1PROD with 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–FINRA–2011–057. 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/
27 Section 19(b)(2) of the Exchange Act, as
amended by the Securities Acts Amendments of
1975, Public Law 94–29, 89 Stat. 97 (1975), grants
the Commission flexibility to determine what type
of proceeding—either oral or notice and
opportunity for written comments—is appropriate
for consideration of a particular proposal by a selfregulatory organization. See Securities Acts
Amendments of 1975, Report of the Senate
Committee on Banking, Housing and Urban Affairs
to Accompany S. 249, S. Rep. No. 75, 94th Cong.,
1st Sess. 30 (1975).
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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
FINRA. 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 publicly available.
All submissions should refer to File
Number SR–FINRA–2011–057 and
should be submitted on or before
February 27, 2012. Rebuttal comments
should be submitted by March 12, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.28
Kevin M. O’Neil,
Deputy Secretary.
[FR Doc. 2012–1581 Filed 1–25–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–66209; File No. SR–Phlx–
2012–02]
Self-Regulatory Organizations;
NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Reformatting
the Fee Schedule
January 20, 2012.
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 January 9,
2012, 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
28 17 CFR 200.30–3(a)(12); 17 CFR 200.30–
3(a)(57).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
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Frm 00071
Fmt 4703
Sfmt 4703
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 relocate
various fees within the Fee Schedule
and provide more detail in the Table of
Contents in order to group fees with
other similar types of fees.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxphlx.cchwallstreet.com/
NASDAQOMXPHLX/Filings/, at the
principal office of the Exchange 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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to relocate various fees within
the Fee Schedule and add more detail
to the Table of Contents to group fees so
that those fees may be easily located
within the Fee Schedule. The Exchange
is not proposing any substantive
amendments, but rather proposes to
merely rearrange text within the Fee
Schedule and add detail to the Table of
Contents.
Specifically, the Exchange is
proposing revisions to the Table of
Contents, Section IV, entitled ‘‘PIXL
Pricing’’, Section VI, entitled ‘‘Access
Service, Cancellation, Membership,
Regulatory and other Fees’’, and Section
VIII, entitled, ‘‘Other Member Fees,’’ as
specified below.
Table of Contents
The Exchange proposes to amend the
title of Section IV ‘‘PIXL Pricing’’ to
‘‘Other Transaction Fees’’ and also add
three subsections: (1) A. PIXL Pricing;
(2) B. Cancellation Fee; and (3) C.
Options Regulatory Fee. The Exchange
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Federal Register / Vol. 77, No. 17 / Thursday, January 26, 2012 / Notices
is proposing to amend the title of
Section VI ‘‘Access Service,
Cancellation, Membership, Regulatory
and other Fees’’ to ‘‘Member Fees’’ and
also add three subsections: (1) A. Permit
and Registration Fees; (2) B. Streaming
Quote Trader (‘‘SQT’’) Fees; and (3) C.
Remote Streaming Quote Trader
(‘‘RSQT’’) Fees. The Exchange also
proposes to amend Section VII, which is
currently reserved, as ‘‘Other Member
Fees’’ and also add four subsections:
(1) A. Options Trading Floor Fees; (2) B.
Port Fees; (3) C. FINRA Fees; and (4) D.
Appeal Fees.
Section IV. PIXL Pricing
The Exchange proposes to rename
Section IV as ‘‘Other Transaction Fees.’’
The PIXL Pricing will remain in this
Section as subsection A. The Exchange
also proposes to add a subsection B for
Cancellation Fees and a subsection C for
the Options Regulatory Fees. The
Cancellation Fees and the Options
Regulatory Fees are currently located in
Section VI, Access Service,
Cancellation, Membership, Regulatory,
and other Fees. The Exchange believes
that these transaction fees are better
suited to newly titled Section IV, Other
Transaction Fees, because these fees
would be located with other transaction
fees in the front portion of the Fee
Schedule.
mstockstill on DSK4VPTVN1PROD with NOTICES
Section VI. Access Service,
Cancellation, Membership, Regulatory
and Other Fees
The Exchange proposes to rename
Section VI as ‘‘Membership Fees.’’
Currently Section VI contains numerous
types of Fees including the:
Cancellation Fee, Real-time Risk
Management Fee, Options Regulatory
Fee, Permit and Registration Fees,3
Streaming Quote Trader (‘‘SQT’’) Fees,
Remote Streaming Quote Trader
(‘‘RSQT’’) Fees, Options Trading Floor
Fees,4 Port Fees,5 FINRA Fees 6 and
Appeal Fees.7 The Exchange proposes to
3 The Permit and Registration Fees include the:
Permit Fee, Application Fee, Application Fee for
Lapsed Applications, Transfer of Affiliation Fee,
Account Fee, Initiation Fee, Inactive Nominee Fee
and Clerk Fee.
4 The Options Trading Floor Fees include the:
Trading/Administrative Booths; Specialist Post Fee,
Floor Facility Fees, Computer Equipment Services,
Repairs and Replacements, Computer Relocation
Requests and Controller Space Fee.
5 Port Fees include the: Order Entry Port Fee;
Active SQF Port Fee and Real-Time Risk
Management Fee, which is noted herein.
6 FINRA Fees include the: Continuing Education
Fee, CRD Processing Fee, Disclosure Processing Fee;
Annual System Processing Fee and Fingerprint
Card Processing Fees.
7 The Appeal Fees include the: Review/Process
Subordinated Loans Fees, Forum Fee Pursuant to
Rule 60 and the Review Fee Pursuant to Rule 124.
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17:14 Jan 25, 2012
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relocate the Cancellation Fee and the
Options Regulatory Fee to newly named
Section IV, Other Transaction Fees, as
mentioned above. The Exchange
proposes to create a subsection A for
Permit and Registration Fees, a
subsection B for SQT Fees and a
subsection C for RSQT Fees. All other
fees, including the Options Trading
Floor Fees, Port Fees, FINRA Fees and
Appeal Fees, will be relocated to a
newly titled Section VII.
Section VII. Reserved
The Exchange proposes to rename
Section VII, which is currently reserved,
as ‘‘Other Member Fees.’’ The Exchange
proposes to relocate the Options
Trading Floor Fees, 8 Port Fees,9 FINRA
Fees 10 and Appeal Fees 11 from Section
VI. The Exchange proposes to group
these fees into four subsections: A
subsection A for Options Floor Fees, a
subsection B for Port Fees, a subsection
C for FINRA Fees and a subsection D for
Appeal Fees for ease of reference.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 12 in general, and furthers the
objectives of Section 6(b)(5) of the Act 13
in particular, in that it is designed to
promote just and equitable principles of
trade, 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, by
organizing its Rules in such a way as to
make them easy to locate by grouping
transaction fees with other transaction
fees and creating other categories of
fees, such as Options Trading Floor
Fees, Port Fees and Appeals Fees, which
provide members an ability to view fees,
which may be applicable to them, in
one section or subsection of the Fee
Schedule. The Exchange believes that
also enhancing the Table of Contents, by
renaming certain sections and adding
subsections, provides greater clarity to
the Fee Schedule and allows members
to readily locate fees within the Fee
Schedule.
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.
8 See
note 4.
note 5.
10 See note 6.
11 See note 7.
12 15 U.S.C. 78f(b).
13 15 U.S.C. 78f(b)(5).
9 See
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Frm 00072
Fmt 4703
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.
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.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–2012–02 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–2012–02. 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
14 15
Sfmt 4703
4069
E:\FR\FM\26JAN1.SGM
U.S.C. 78s(b)(3)(A)(ii).
26JAN1
4070
Federal Register / Vol. 77, No. 17 / Thursday, January 26, 2012 / Notices
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–2012–
02 and should be submitted on or before
February 16, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–1584 Filed 1–25–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Self-Regulatory Organizations; C2
Options Exchange, Incorporated;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Related to Complex Order
Price Check Parameter Features
mstockstill on DSK4VPTVN1PROD 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 January 9,
2012, the C2 Options Exchange,
Incorporated (‘‘Exchange’’ or ‘‘C2’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the Exchange. The
Exchange has designated the proposal as
a ‘‘non-controversial’’ proposed rule
change pursuant to Section 19(b)(3)(A)
of the Act 3 and Rule 19b–4(f)(6)
thereunder.4 The Commission is
publishing this notice to solicit
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
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The Exchange is proposing to amend
its complex order processing rules to
update existing price check protection
features and include some additional
ones. The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.c2exchange.com/
Legal/RuleFilings.aspx), at the
Exchange’s Office of the Secretary and
at the Commission.
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 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.
1. Purpose
January 20, 2012.
1 15
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
[Release No. 34–66210; File No. SR–C2–
2012–003]
15 17
comments on the proposed rule change
from interested persons.
The Exchange has in place various
price check parameter features that are
designed to prevent incoming orders
from automatically executing at
potentially erroneous prices. These
price check parameter features are
designed to help maintain a fair and
orderly market. The Exchange is
proposing to amend its complex order
processing rules under Rule 6.13,
Complex Order Execution, to update
existing price check protection features
to provide additional clarity on the
operation of the functionality and to
include some additional features. The
Exchange believes the below-described
price check parameter revisions will
enhance the existing functionality and
assist with the maintenance of fair and
orderly markets by helping to mitigate
the potential risks associated with an
order drilling through multiple price
points (thereby resulting in executions
at prices that are extreme and
potentially erroneous) and complex
orders trading at prices that are
inconsistent with particular complex
order strategies (thereby resulting in
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Sfmt 4703
executions at prices that are extreme
and potentially erroneous).
First, the Exchange is proposing to
include descriptive headings in the rule
text for each of the existing price check
parameters. The Exchange is also
proposing to break the description of the
existing same expiration strategy price
check parameters into two separate
paragraphs instead of a single
paragraph. We believe these changes
will make it easier for users to read and
understand the operation of these price
protection features. These changes are
simply non-substantive formatting
changes and do not impact the
operation of the various features.
Second, the market width parameter
under Rule 6.13.04(a) currently provides
that the complex order book (‘‘COB’’)
will not automatically execute eligible
complex orders that are market orders if
the width between the Exchange’s best
bid and best offer (‘‘BBO’’) are not
within an acceptable price range. In
addition, the rule text currently
provides that such market complex
orders will be cancelled.
The Exchange is proposing to revise
this provision to provide that the
Exchange may determine to apply these
price check parameters to market orders
and/or marketable limit orders.
However, whereas market orders that
are subject to this price protection
feature are cancelled, marketable limit
orders would be held in the system. Any
such orders held in the system would
not be eligible to automatically execute
until after the market width parameter
condition is resolved. In addition, while
being held in the system, such orders
would be displayed in the COB as
applicable. This functionality for
marketable limit order is currently in
use but not expressly covered in the
rules. The Exchange believes that
extending the same price check logic to
not automatically execute such
marketable limit orders but to continue
to hold such orders in the system is
reasonable and appropriate because, as
with market orders, this feature should
help to prevent executions of such limit
orders at extreme and potentially
erroneous prices. In contrast to market
orders, marketable limit orders are able
to be held in the system because they
have a price associated with them. The
Exchange also notes that applying
market width price check logic to
market orders and/or marketable limit
orders is consistent with other existing
price check parameters that apply to
both market orders and marketable limit
complex orders.5 In addition, the
5 See, e.g., Rule 6.17, Price Check Parameters
(which provides, among other things, that the
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]]>Agencies
[Federal Register Volume 77, Number 17 (Thursday, January 26, 2012)]
[Notices]
[Pages 4068-4070]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-1584]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-66209; File No. SR-Phlx-2012-02]
Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Reformatting
the Fee Schedule
January 20, 2012.
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 January 9, 2012, 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 relocate various fees within the Fee
Schedule and provide more detail in the Table of Contents in order to
group fees with other similar types of fees.
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqomxphlx.cchwallstreet.com/NASDAQOMXPHLX/Filings/, at the principal office of the Exchange 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to relocate various fees
within the Fee Schedule and add more detail to the Table of Contents to
group fees so that those fees may be easily located within the Fee
Schedule. The Exchange is not proposing any substantive amendments, but
rather proposes to merely rearrange text within the Fee Schedule and
add detail to the Table of Contents.
Specifically, the Exchange is proposing revisions to the Table of
Contents, Section IV, entitled ``PIXL Pricing'', Section VI, entitled
``Access Service, Cancellation, Membership, Regulatory and other
Fees'', and Section VIII, entitled, ``Other Member Fees,'' as specified
below.
Table of Contents
The Exchange proposes to amend the title of Section IV ``PIXL
Pricing'' to ``Other Transaction Fees'' and also add three subsections:
(1) A. PIXL Pricing; (2) B. Cancellation Fee; and (3) C. Options
Regulatory Fee. The Exchange
[[Page 4069]]
is proposing to amend the title of Section VI ``Access Service,
Cancellation, Membership, Regulatory and other Fees'' to ``Member
Fees'' and also add three subsections: (1) A. Permit and Registration
Fees; (2) B. Streaming Quote Trader (``SQT'') Fees; and (3) C. Remote
Streaming Quote Trader (``RSQT'') Fees. The Exchange also proposes to
amend Section VII, which is currently reserved, as ``Other Member
Fees'' and also add four subsections: (1) A. Options Trading Floor
Fees; (2) B. Port Fees; (3) C. FINRA Fees; and (4) D. Appeal Fees.
Section IV. PIXL Pricing
The Exchange proposes to rename Section IV as ``Other Transaction
Fees.'' The PIXL Pricing will remain in this Section as subsection A.
The Exchange also proposes to add a subsection B for Cancellation Fees
and a subsection C for the Options Regulatory Fees. The Cancellation
Fees and the Options Regulatory Fees are currently located in Section
VI, Access Service, Cancellation, Membership, Regulatory, and other
Fees. The Exchange believes that these transaction fees are better
suited to newly titled Section IV, Other Transaction Fees, because
these fees would be located with other transaction fees in the front
portion of the Fee Schedule.
Section VI. Access Service, Cancellation, Membership, Regulatory and
Other Fees
The Exchange proposes to rename Section VI as ``Membership Fees.''
Currently Section VI contains numerous types of Fees including the:
Cancellation Fee, Real-time Risk Management Fee, Options Regulatory
Fee, Permit and Registration Fees,\3\ Streaming Quote Trader (``SQT'')
Fees, Remote Streaming Quote Trader (``RSQT'') Fees, Options Trading
Floor Fees,\4\ Port Fees,\5\ FINRA Fees \6\ and Appeal Fees.\7\ The
Exchange proposes to relocate the Cancellation Fee and the Options
Regulatory Fee to newly named Section IV, Other Transaction Fees, as
mentioned above. The Exchange proposes to create a subsection A for
Permit and Registration Fees, a subsection B for SQT Fees and a
subsection C for RSQT Fees. All other fees, including the Options
Trading Floor Fees, Port Fees, FINRA Fees and Appeal Fees, will be
relocated to a newly titled Section VII.
---------------------------------------------------------------------------
\3\ The Permit and Registration Fees include the: Permit Fee,
Application Fee, Application Fee for Lapsed Applications, Transfer
of Affiliation Fee, Account Fee, Initiation Fee, Inactive Nominee
Fee and Clerk Fee.
\4\ The Options Trading Floor Fees include the: Trading/
Administrative Booths; Specialist Post Fee, Floor Facility Fees,
Computer Equipment Services, Repairs and Replacements, Computer
Relocation Requests and Controller Space Fee.
\5\ Port Fees include the: Order Entry Port Fee; Active SQF Port
Fee and Real-Time Risk Management Fee, which is noted herein.
\6\ FINRA Fees include the: Continuing Education Fee, CRD
Processing Fee, Disclosure Processing Fee; Annual System Processing
Fee and Fingerprint Card Processing Fees.
\7\ The Appeal Fees include the: Review/Process Subordinated
Loans Fees, Forum Fee Pursuant to Rule 60 and the Review Fee
Pursuant to Rule 124.
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Section VII. Reserved
The Exchange proposes to rename Section VII, which is currently
reserved, as ``Other Member Fees.'' The Exchange proposes to relocate
the Options Trading Floor Fees, \8\ Port Fees,\9\ FINRA Fees \10\ and
Appeal Fees \11\ from Section VI. The Exchange proposes to group these
fees into four subsections: A subsection A for Options Floor Fees, a
subsection B for Port Fees, a subsection C for FINRA Fees and a
subsection D for Appeal Fees for ease of reference.
---------------------------------------------------------------------------
\8\ See note 4.
\9\ See note 5.
\10\ See note 6.
\11\ See note 7.
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2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \12\ in general, and furthers the objectives of Section
6(b)(5) of the Act \13\ in particular, in that it is designed to
promote just and equitable principles of trade, 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, by organizing its Rules in such a way as to make them easy to
locate by grouping transaction fees with other transaction fees and
creating other categories of fees, such as Options Trading Floor Fees,
Port Fees and Appeals Fees, which provide members an ability to view
fees, which may be applicable to them, in one section or subsection of
the Fee Schedule. The Exchange believes that also enhancing the Table
of Contents, by renaming certain sections and adding subsections,
provides greater clarity to the Fee Schedule and allows members to
readily locate fees within the Fee Schedule.
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\12\ 15 U.S.C. 78f(b).
\13\ 15 U.S.C. 78f(b)(5).
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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.
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.\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.
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\14\ 15 U.S.C. 78s(b)(3)(A)(ii).
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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 No. SR-Phlx-2012-02 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-2012-02. 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
[[Page 4070]]
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-2012-02 and should be
submitted on or before February 16, 2012.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-1584 Filed 1-25-12; 8:45 am]
BILLING CODE 8011-01-P
