Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove the BOX Fee Schedule In Effect While BOX Was a Facility of the Exchange, 30561-30562 [2012-12444]

Download as PDF Federal Register / Vol. 77, No. 100 / Wednesday, May 23, 2012 / Notices solicit comments on the proposed rule from interested persons. 3. Report on status of Commission dockets. 4. Report from the Office of the Secretary and Administration. 5. Report from the Office of Accountability and Compliance. 6. Report on international activities. Chairman’s public comment period. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Portion Closed to the Public 7. Discussion of pending litigation. CONTACT PERSON FOR MORE INFORMATION: Stephen L. Sharfman, General Counsel, Postal Regulatory Commission, 901 New York Avenue NW., Suite 200, Washington, DC 20268–0001, at 202– 789–6820 (for agenda-related inquiries) and Shoshana M. Grove, Secretary of the Commission, at 202–789–6800 or shoshana.grove@prc.gov (for inquiries related to meeting location, access for handicapped or disabled persons, the audiocast, or similar matters). By the Commission. Dated: May 21, 2012. Shoshana M. Grove, Secretary. BILLING CODE 7710–FW–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67012; File No. SR–BX– 2012–035] Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Remove the BOX Fee Schedule In Effect While BOX Was a Facility of the Exchange mstockstill on DSK4VPTVN1PROD with NOTICES May 17, 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 May 14, 2012, NASDAQ OMX BX, Inc. (the ‘‘Exchange’’) 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 Exchange filed the proposed rule change pursuant to Section 19(b)(3)(A)(ii) of the Act,3 and Rule 19b–4(f)(2) thereunder,4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose BOX operated an options trading platform as a facility of the Exchange. BOX filed an application with the Commission for registration as a national securities exchange under Section 6 of Act. See Securities Exchange Act Release No. 66242 (January 26, 2012), 77 FR 4841 (January 31, 2012). The application has been granted. See Securities Exchange Act Release No. 66871 (April 27, 2012), 77 FR 86 [sic] (May 3, 2012). BOX is no longer a facility of the Exchange. Therefore, the Exchange proposes to remove the BOX Fee Schedule, which was in effect while BOX was a facility of the Exchange. BOX Options Participants will be assessed applicable fees pertaining to activities occurring through May 11, 2012. 2. Statutory Basis 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 2 17 17:00 May 22, 2012 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 these statements may be examined at the places specified in Item IV below. The self-regulatory organization has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. [FR Doc. 2012–12659 Filed 5–21–12; 4:15 pm] VerDate Mar<15>2010 The Exchange proposes to amend the Fee Schedule of the Boston Options Exchange Group, LLC (‘‘BOX’’) which was in effect when BOX was a facility of the Exchange. The text of the proposed changes is attached as Exhibit 5 [sic]. The text of the proposed rule change is available from the principal office of the Exchange, at the Commission’s Public Reference Room, and also on the Exchange’s Internet Web site at https:// nasdaqomxbx.cchwallstreet.com/ NASDAQOMXBX/Filings/. Jkt 226001 PO 00000 Frm 00065 Fmt 4703 requirements of Section 6(b) of the Act,5 in general, and Section 6(b)(4) of the Act,6 in particular, in that it provides for the equitable allocation of reasonable dues, fees, and other charges among its members and other persons using its facilities. The Exchange believes the proposed change, removing the fee schedule is reasonable because BOX is no longer trading as a facility of the Exchange. BOX Options Participants will be assessed applicable fees pertaining to activities occurring through May 11, 2012. 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 The Exchange has neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is filed for immediate effectiveness pursuant to Section 19(b)(3)(A)(ii) of the Exchange Act 7 and Rule 19b-4(f)(2) thereunder,8 because it establishes or changes a due, fee, or other charge applicable only to a member. As such, the proposed rule change is effective upon filing with the Commission. At any time within 60 days of the filing of the proposed rule change, the Commission summarily may temporarily suspend the rule change if it appears to the Commission that the action is necessary or appropriate in the public interest, for the protection of investors, or would otherwise further 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: 5 15 The Exchange believes that the proposal is consistent with the Sfmt 4703 30561 U.S.C. 78f(b). U.S.C. 78f(b)(4). 7 15 U.S.C. 78s(b)(3)(A)(ii). 8 17 CFR 240.19b–4(f)(2) 6 15 E:\FR\FM\23MYN1.SGM 23MYN1 30562 Federal Register / Vol. 77, No. 100 / Wednesday, May 23, 2012 / Notices 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–BX–2012–035 on the subject line. Paper Comments mstockstill on DSK4VPTVN1PROD with NOTICES • 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–BX–2012–035. 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 10:00 a.m. and 3:00 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–BX– 2012–035 and should be submitted on or before June 13, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–12444 Filed 5–22–12; 8:45 am] BILLING CODE 8011–01–P 9 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 17:00 May 22, 2012 Jkt 226001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67013; File No. SR–OCC– 2012–04] Self-Regulatory Organizations; The Options Clearing Corporation; Order Approving Proposed Rule Change Relating to Stock Loan Buy-In and SellOut Rules May 17, 2012. I. Introduction On March 22, 2012, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change SR–OCC–2012–04 pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder.2 The proposed rule change was published for comment in the Federal Register on April 6, 2012.3 The Commission received no comment letters regarding the proposal. For the reasons discussed below, the Commission is granting approval of the proposed rule change. II. Description As detailed in the Commission’s notice, the proposed rule change would make three procedural changes to certain OCC rules relating to the Market Loan Program 4 and the Stock Loan/ Hedge Program.5 The changes include: (i) Amending the buy-in and sell-out processes under the Market Loan Program, (ii) amending the rules governing the Stock Loan/Hedge Program to add a sell-out process, and (iii) amending OCC’s rules governing the Stock Loan/Hedge Program to add a cash settlement process. III. Discussion Section 19(b)(2)(B) of the Act directs the Commission to approve a proposed rule change of a self-regulatory organization if it finds that such proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Securities Exchange Act Release No. 34–66715 (April 2, 2012), 77 FR 20861 (April 6, 2012). 4 The Market Loan Program, governed by Article XXIA of OCC’s By-Laws and Chapter XXIIA of OCC’s Rules, provides a framework that accommodates securities lending transactions executed through electronic trading systems (‘‘Loan Markets’’). 5 The Stock Loan/Hedge Program, governed by Article XXI of OCC’s By-Laws and Chapter XXII of OCC’s Rules, allows approved clearing members to register their privately negotiated securities lending transactions with OCC. 2 17 PO 00000 Frm 00066 Fmt 4703 Sfmt 4703 applicable to such organization.6 Section 17A(b)(3)(F) of the Act requires that the rules of a clearing agency, among other things, be designed to remove impediments to and perfect the mechanism of a national system for the clearance and settlement of securities transactions.7 The Commission finds that the proposed rule change as described is consistent with OCC’s obligation under Section 17A(b)(3)(F) of the Act’s requirement that the rules of OCC be designed to remove impediments and perfect the mechanism of a national system for the clearance and settlement of securities transactions. IV. Conclusion On the basis of the foregoing, the Commission finds that the proposal is consistent with the requirements of the Act and in particular with the requirements of Section 17A of the Act and the rules and regulations thereunder. It is therefore ordered, pursuant to Section 19(b)(2) 8 of the Act, that the proposed rule change (File No. SR– OCC–2012–04) be, and hereby is, approved.9 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–12445 Filed 5–22–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67011; File No. SR–EDGA– 2012–09] Self-Regulatory Organizations; EDGA Exchange, Inc.; Order Approving a Proposed Rule Change Relating to Amendments to Rule 2.11 That Establish the Authority To Cancel Orders and Describe the Operation of an Error Account May 17, 2012. I. Introduction On March 22, 2012, EDGA Exchange, Inc. (‘‘Exchange’’ or ‘‘EDGA’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities 6 15 U.S.C. 78s(b)(2)(B). U.S.C. 78q–1(b)(3)(F). 8 15 U.S.C. 78s(b)(2). 9 In approving the proposed rule change, the Commission considered the proposal’s impact on efficiency, competition and capital formation. 15 U.S.C. 78c(f). 10 17 CFR 200.30–3(a)(12). 7 15 E:\FR\FM\23MYN1.SGM 23MYN1

Agencies

[Federal Register Volume 77, Number 100 (Wednesday, May 23, 2012)]
[Notices]
[Pages 30561-30562]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-12444]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67012; File No. SR-BX-2012-035]


Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change To Remove 
the BOX Fee Schedule In Effect While BOX Was a Facility of the Exchange

May 17, 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 May 14, 2012, NASDAQ OMX BX, Inc. (the ``Exchange'') 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 Exchange filed the proposed rule change 
pursuant to Section 19(b)(3)(A)(ii) of the Act,\3\ and Rule 19b-4(f)(2) 
thereunder,\4\ which renders the proposal effective upon filing with 
the Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the Fee Schedule of the Boston 
Options Exchange Group, LLC (``BOX'') which was in effect when BOX was 
a facility of the Exchange. The text of the proposed changes is 
attached as Exhibit 5 [sic]. The text of the proposed rule change is 
available from the principal office of the Exchange, at the 
Commission's Public Reference Room, and also on the Exchange's Internet 
Web site at https://nasdaqomxbx.cchwallstreet.com/NASDAQOMXBX/Filings/.

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 these statements may be examined at 
the places specified in Item IV below. The self-regulatory organization 
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
    BOX operated an options trading platform as a facility of the 
Exchange. BOX filed an application with the Commission for registration 
as a national securities exchange under Section 6 of Act. See 
Securities Exchange Act Release No. 66242 (January 26, 2012), 77 FR 
4841 (January 31, 2012). The application has been granted. See 
Securities Exchange Act Release No. 66871 (April 27, 2012), 77 FR 86 
[sic] (May 3, 2012). BOX is no longer a facility of the Exchange. 
Therefore, the Exchange proposes to remove the BOX Fee Schedule, which 
was in effect while BOX was a facility of the Exchange. BOX Options 
Participants will be assessed applicable fees pertaining to activities 
occurring through May 11, 2012.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the 
requirements of Section 6(b) of the Act,\5\ in general, and Section 
6(b)(4) of the Act,\6\ in particular, in that it provides for the 
equitable allocation of reasonable dues, fees, and other charges among 
its members and other persons using its facilities. The Exchange 
believes the proposed change, removing the fee schedule is reasonable 
because BOX is no longer trading as a facility of the Exchange. BOX 
Options Participants will be assessed applicable fees pertaining to 
activities occurring through May 11, 2012.
---------------------------------------------------------------------------

    \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 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

    The Exchange has neither solicited nor received comments on the 
proposed rule change.

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

    The foregoing rule change is filed for immediate effectiveness 
pursuant to Section 19(b)(3)(A)(ii) of the Exchange Act \7\ and Rule 
19b-4(f)(2) thereunder,\8\ because it establishes or changes a due, 
fee, or other charge applicable only to a member. As such, the proposed 
rule change is effective upon filing with the Commission.
---------------------------------------------------------------------------

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

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend the rule 
change if it appears to the Commission that the action is necessary or 
appropriate in the public interest, for the protection of investors, or 
would otherwise further 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:

[[Page 30562]]

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-BX-2012-035 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-BX-2012-035. 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 
10:00 a.m. and 3:00 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-BX-2012-035 and should be 
submitted on or before June 13, 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. 2012-12444 Filed 5-22-12; 8:45 am]
BILLING CODE 8011-01-P
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