Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Schedule of Fees, 49046-49048 [2012-19978]
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49046
Federal Register / Vol. 77, No. 158 / Wednesday, August 15, 2012 / Notices
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
Pursuant to Section 19(b)(3)(A) of the
Act 6 and Rule 19b–4(f)(1) 7 thereunder,
the Exchange has designated this
proposal as one that constitutes a stated
policy, practice or interpretation with
respect to the meaning, administration,
or enforcement of an existing rule of the
SRO, and therefore has become
effective.
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:
srobinson on DSK4SPTVN1PROD with NOTICES
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–2012–101 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–2012–101. 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–Phlx–
2012–101 and should be submitted on
or before September 5, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–19981 Filed 8–14–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–67627; File No. SR–ISE–
2012–70]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change To Amend the Schedule of
Fees
August 9, 2012.
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 August 1,
2012, the International Securities
Exchange, LLC (the ‘‘ISE’’ or 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 self-regulatory organization. The
Commission is publishing this notice to
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
6 15
U.S.C. 78s(b)(3)(A).
7 17 CFR 240.19b–4(f)(1).
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17:49 Aug 14, 2012
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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 ISE is proposing to amend its
Schedule of Fees. The text of the
proposed rule change is available on the
Exchange’s Web site (https://
www.ise.com), 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
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
The Exchange currently assesses per
contract transaction fees and provides
rebates to market participants that add
or remove liquidity from the Exchange
(‘‘maker/taker fees and rebates’’) in 101
options classes (the ‘‘Select Symbols’’).3
The Exchange also currently assesses
maker/taker fees and rebates for certain
regular orders in 25 option classes
(‘‘Special Non-Select Penny Pilot
Symbols’’).4 The purpose of this
proposed rule change is to amend the
list of Select Symbols and Special NonSelect Penny Pilot Symbols in order to
attract additional order flow to the
Exchange. Specifically, the Exchange
proposes to remove the following eight
(8) symbols from the list of Select
Symbols and add them to the list of
Special Non-Select Penny Pilot
Symbols: Amazon.com, Inc. (‘‘AMZN’’),
ConocoPhillips (‘‘COP’’), ProShares
QQQ Trust Series 1 (‘‘QQQ’’), Sprint
Corporation (‘‘S’’), ProShares UltraShort
S&P 500 (‘‘SDS’’), Sirius XM Radio, Inc.
(‘‘SIRI’’), ProShares Ultra S&P 500
3 Options classes subject to maker/taker fees and
rebates are identified by their ticker symbol on the
Exchange’s Schedule of Fees.
4 The Special Non-Select Penny Pilot Symbols are
identified by their ticker symbol on the Exchange’s
Schedule of Fees.
E:\FR\FM\15AUN1.SGM
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Federal Register / Vol. 77, No. 158 / Wednesday, August 15, 2012 / Notices
srobinson on DSK4SPTVN1PROD with NOTICES
(‘‘SSO’’) and Direxion Small Cap Bear
3X (‘‘TZA’’) (‘‘Proposed Deleted Select
Symbols’’).
Additionally, the Exchange proposes
to add the following 32 symbols to the
list of Special Non-Select Penny Pilot
Symbols: Arch Coal, Inc. (‘‘ACI’’),
American Capital Agency Corporation
(‘‘AGNC’’), Amylin Pharmaceuticals,
Inc. (‘‘AMLN’’), Alpha Natural
Resources, Inc. (‘‘ANR’’), Apache
Corporation (‘‘APA’’), Arena
Pharmaceuticals, Inc. (‘‘ARNA’’), ATP
Oil & Gas Corporation (‘‘ATPG’’),
Yamana Gold, Inc. (‘‘AUY’’), Baxter
International, Inc. (‘‘BAX’’), Delta
Airlines, Inc. (‘‘DAL’’), E.I. du Pont de
Nemours and Company (‘‘DD’’), The
Walt Disney Company (‘‘DIS’’), Dow
Chemical Company, Inc. (‘‘DOW’’),
Human Genome Sciences, Inc.
(‘‘HGSI’’), JC Penney Co., Inc. (‘‘JCP’’),
Joy Global, Inc. (‘‘JOY’’), KB Home
(‘‘KBH’’), Kinross Gold Corporation
(‘‘KGC’’), Mastercard, Inc. (‘‘MA’’),
MBIA, Inc. (‘‘MBI’’), Medtronic, Inc.
(‘‘MDT’’), Nike, Inc. (‘‘NKE’’), Pepsico,
Inc. (‘‘PEP’’), SandRidge Energy, Inc.
(‘‘SD’’), Union Pacific Corporation
(‘‘UNP’’), United Technologies
Corporation (‘‘UTX’’), Valero Energy
Corporation (‘‘VLO’’), Walgreen Co.
(‘‘WAG’’), Western Digital Corporation
(‘‘WDC’’), Walter Energy, Inc. (‘‘WLT’’),
Utilities Select Sector SPDR Fund
(‘‘XLU’’) and Zynga, Inc. (‘‘ZNGA’’)
(‘‘Additional Special Non-Select
Symbols’’).
With this proposed rule change, the
40 symbols noted above, i.e., the
Proposed Deleted Select Symbols and
the Additional Special Non-Select
Symbols, together with the 25 symbols
that are already designated as Special
Non-Select Penny Pilot Symbols, will
now be subject to the fees for Special
Non-Select Penny Pilot Fees listed in
Section I of the Schedule of Fees.
2. Statutory Basis
The Exchange believes that its
proposal to amend its Schedule of Fees
is consistent with Section 6(b) of the
Act 5 in general, and furthers the
objectives of Section 6(b)(4) of the Act 6
in particular, in that it is an equitable
allocation of reasonable fees and other
charges among Exchange members and
other persons using its facilities.
The Exchange believes that it is
reasonable to remove the Proposed
Deleted Select Symbols from its list of
Select Symbols and add them to the list
of Special Non-Select Penny Pilot
Symbols. The Exchange also believes it
is reasonable to add the Additional
5 15
6 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
VerDate Mar<15>2010
17:49 Aug 14, 2012
Special Non-Select Symbols to the
current list of Special Non-Select Penny
Pilot Symbols. The Exchange believes
that applying the fees applicable to
Special Non-Select Penny Pilot Symbols
to the Proposed Deleted Select Symbols
and to the Additional Special NonSelect Symbols will attract additional
order flow to the Exchange.
The Exchange believes that it is
equitable and not unfairly
discriminatory to amend its list of Select
Symbols to remove the Proposed
Deleted Symbols and to amend its list
of Special Non-Select Penny Pilot
Symbols to add the Additional Special
Non-Select Symbols because the list of
Select Symbols and Special Non-Select
Penny Pilot Symbols would apply
uniformly to all categories of
participants in the same manner. All
market participants who trade the Select
Symbols and the Special Non-Select
Penny Pilot Symbols would be
uniformly subject to the fees and rebates
applicable to those symbols.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
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
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
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.7 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. If the Commission
takes such action, the Commission shall
institute proceedings to determine
whether the proposed rule should be
approved or disapproved.
7 15
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PO 00000
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–ISE–2012–70 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–ISE–2012–70. 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–ISE–
2012–70 and should be submitted on or
before September 5, 2012.
U.S.C. 78s(b)(3)(A)(ii).
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49048
Federal Register / Vol. 77, No. 158 / Wednesday, August 15, 2012 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–19978 Filed 8–14–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–67629; File No. SR–DTC–
2012–05]
Self-Regulatory Organizations; The
Depository Trust Company; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Enable The
Depository Trust Company To Collect
and Pass Through Certain Fees Owed
by Participants to Transfer Agents in
Connection With the Deposit and
Withdrawal at Custodian System
August 9, 2012.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 notice is hereby given that on
June 30, 2012, The Depository Trust
Company (‘‘DTC’’) 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
primarily by DTC. DTC filed the
proposal pursuant to Section
19(b)(3)(A)(ii) of the Act,2 and Rule
19b–4(f)(2) 3 thereunder so that the
proposal was effective upon filing with
the Commission. 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 purpose of this proposed rule
change is to enable DTC to collect and
pass through certain fees owed by
participants to transfer agents in
connection with the Deposit and
Withdrawal at Custodian (‘‘DWAC’’)
system.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
DTC 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. DTC has prepared
summaries, set forth in sections (A), (B)
and (C) below, of the most significant
aspects of such statements.4
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
DWAC can be utilized to
electronically transfer securities
between Participants and transfer
agents, acting as custodians.5 DWAC is
designed for utilization by any
Participant with respect to certain issues
of securities in DTC’s Fast Automated
Securities Transfer program (‘‘FAST’’).
For securities that are part of the FAST
program, the transfer agents hold the
securities registered in the name of
DTC’s nominee, Cede & Co., in the form
of balance certificates. As additional
securities are deposited or withdrawn
from DTC, the transfer agents adjust the
denomination of the certificate as
appropriate, and electronically confirm
these changes with DTC. Transfer agents
charge Participants a fee for the
processing of a DWAC request.
Participants must submit a check in the
amount of the DWAC fee upon
presentation of the transfer instructions,
or the transfer agent invoices the
Participant.
In order to facilitate a more efficient
DWAC fee collection process, DTC is
proposing to collect and pass through
DWAC fees owed by Participants to
transfer agents.6 DTC will only collect
DWAC fees from an entity that is a
Participant of DTC at the close of
business on the 7th business day of each
month that DTC is collecting the fee.
The introduction of this process has
been discussed with and endorsed by
the Securities Transfer Association.
Furthermore, DTC has discussed this
proposal with several of its Participants
and all agree that it should be
implemented as soon as possible. In
order to cover costs incurred in
collecting fees associated with DWAC
transactions, DTC will retain a monthly
collection charge equal to 1.5% of the
DWAC fee collected on behalf of each
transfer agent.7 This collection charge
will appear in the DTC Fee Schedule as
follows:
Service
Current fee
Proposed fee
Per
Collection of transfer agent DWAC fees ......................
N/A
1.5%
Per monthly amount collected for each transfer agent.
srobinson on DSK4SPTVN1PROD with NOTICES
DTC expects to begin collecting DWAC
fees in the first quarter of 2013. DTC
will announce the implementation date
by Important Notice.
DTC believes that the proposed rule
change is consistent with the
requirements of Section 17A of the Act,8
and the rules and regulations
thereunder applicable to it because the
proposed fee change is designed to
provide for the equitable allocation of
reasonable fees and charges among the
users of DTC’s services.
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78s(b)(3)(A)(ii).
3 17 CFR 240.19b–4(f)(2).
4 The Commission has modified the text of the
summaries prepared by DTC.
1 15
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Jkt 226001
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
the Commission of any written
comments received by DTC.
DTC does not believe that the
proposed rule change will have any
impact, or impose any burden, on
competition.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Written comments relating to the
proposed rule change have not yet been
solicited or received. DTC will notify
The foregoing rule change has become
effective upon filing pursuant to Section
19(b)(3)(A)(ii) 9 of the Act and Rule 19b–
4(f)(2) 10 thereunder. 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
5 For more information about the DWAC service,
see Securities Exchange Act Release No. 29952
(November 18, 1991) 56 FR 59307 (November 25,
1991) (SR–DTC–91–16) (order granting approval of
the DWAC service).
6 Transfer agents that use DTC’s DWAC services
are not required to use this collection service.
7 DTC is charging this 1.5% collection fee to the
transfer agent to cover its cost of administering the
program.
8 15 U.S.C. 78q–1.
9 15 U.S.C. 78s(b)(3)(A)(ii).
10 17 CFR 240.19b–4(f)(2).
(C) Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
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]]>Agencies
[Federal Register Volume 77, Number 158 (Wednesday, August 15, 2012)]
[Notices]
[Pages 49046-49048]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-19978]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-67627; File No. SR-ISE-2012-70]
Self-Regulatory Organizations; International Securities
Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Amend the Schedule of Fees
August 9, 2012.
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 August 1, 2012, the International Securities Exchange, LLC (the
``ISE'' or 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 self-
regulatory organization. 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 ISE is proposing to amend its Schedule of Fees. The text of the
proposed rule change is available on the Exchange's Web site (https://www.ise.com), 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 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
The Exchange currently assesses per contract transaction fees and
provides rebates to market participants that add or remove liquidity
from the Exchange (``maker/taker fees and rebates'') in 101 options
classes (the ``Select Symbols'').\3\ The Exchange also currently
assesses maker/taker fees and rebates for certain regular orders in 25
option classes (``Special Non-Select Penny Pilot Symbols'').\4\ The
purpose of this proposed rule change is to amend the list of Select
Symbols and Special Non-Select Penny Pilot Symbols in order to attract
additional order flow to the Exchange. Specifically, the Exchange
proposes to remove the following eight (8) symbols from the list of
Select Symbols and add them to the list of Special Non-Select Penny
Pilot Symbols: Amazon.com, Inc. (``AMZN''), ConocoPhillips (``COP''),
ProShares QQQ Trust Series 1 (``QQQ''), Sprint Corporation (``S''),
ProShares UltraShort S&P 500 (``SDS''), Sirius XM Radio, Inc.
(``SIRI''), ProShares Ultra S&P 500
[[Page 49047]]
(``SSO'') and Direxion Small Cap Bear 3X (``TZA'') (``Proposed Deleted
Select Symbols'').
---------------------------------------------------------------------------
\3\ Options classes subject to maker/taker fees and rebates are
identified by their ticker symbol on the Exchange's Schedule of
Fees.
\4\ The Special Non-Select Penny Pilot Symbols are identified by
their ticker symbol on the Exchange's Schedule of Fees.
---------------------------------------------------------------------------
Additionally, the Exchange proposes to add the following 32 symbols
to the list of Special Non-Select Penny Pilot Symbols: Arch Coal, Inc.
(``ACI''), American Capital Agency Corporation (``AGNC''), Amylin
Pharmaceuticals, Inc. (``AMLN''), Alpha Natural Resources, Inc.
(``ANR''), Apache Corporation (``APA''), Arena Pharmaceuticals, Inc.
(``ARNA''), ATP Oil & Gas Corporation (``ATPG''), Yamana Gold, Inc.
(``AUY''), Baxter International, Inc. (``BAX''), Delta Airlines, Inc.
(``DAL''), E.I. du Pont de Nemours and Company (``DD''), The Walt
Disney Company (``DIS''), Dow Chemical Company, Inc. (``DOW''), Human
Genome Sciences, Inc. (``HGSI''), JC Penney Co., Inc. (``JCP''), Joy
Global, Inc. (``JOY''), KB Home (``KBH''), Kinross Gold Corporation
(``KGC''), Mastercard, Inc. (``MA''), MBIA, Inc. (``MBI''), Medtronic,
Inc. (``MDT''), Nike, Inc. (``NKE''), Pepsico, Inc. (``PEP''),
SandRidge Energy, Inc. (``SD''), Union Pacific Corporation (``UNP''),
United Technologies Corporation (``UTX''), Valero Energy Corporation
(``VLO''), Walgreen Co. (``WAG''), Western Digital Corporation
(``WDC''), Walter Energy, Inc. (``WLT''), Utilities Select Sector SPDR
Fund (``XLU'') and Zynga, Inc. (``ZNGA'') (``Additional Special Non-
Select Symbols'').
With this proposed rule change, the 40 symbols noted above, i.e.,
the Proposed Deleted Select Symbols and the Additional Special Non-
Select Symbols, together with the 25 symbols that are already
designated as Special Non-Select Penny Pilot Symbols, will now be
subject to the fees for Special Non-Select Penny Pilot Fees listed in
Section I of the Schedule of Fees.
2. Statutory Basis
The Exchange believes that its proposal to amend its Schedule of
Fees is consistent with Section 6(b) of the Act \5\ in general, and
furthers the objectives of Section 6(b)(4) of the Act \6\ in
particular, in that it is an equitable allocation of reasonable fees
and other charges among Exchange members and other persons using its
facilities.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
The Exchange believes that it is reasonable to remove the Proposed
Deleted Select Symbols from its list of Select Symbols and add them to
the list of Special Non-Select Penny Pilot Symbols. The Exchange also
believes it is reasonable to add the Additional Special Non-Select
Symbols to the current list of Special Non-Select Penny Pilot Symbols.
The Exchange believes that applying the fees applicable to Special Non-
Select Penny Pilot Symbols to the Proposed Deleted Select Symbols and
to the Additional Special Non-Select Symbols will attract additional
order flow to the Exchange.
The Exchange believes that it is equitable and not unfairly
discriminatory to amend its list of Select Symbols to remove the
Proposed Deleted Symbols and to amend its list of Special Non-Select
Penny Pilot Symbols to add the Additional Special Non-Select Symbols
because the list of Select Symbols and Special Non-Select Penny Pilot
Symbols would apply uniformly to all categories of participants in the
same manner. All market participants who trade the Select Symbols and
the Special Non-Select Penny Pilot Symbols would be uniformly subject
to the fees and rebates applicable to those symbols.
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not 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
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
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.\7\ 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. 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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\7\ 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 Number SR-ISE-2012-70 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-ISE-2012-70. 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-ISE-2012-70 and should be
submitted on or before September 5, 2012.
[[Page 49048]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-19978 Filed 8-14-12; 8:45 am]
BILLING CODE 8011-01-P
