Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Make Non-Substantive Clarifications to the Exchange's Schedule of Fees, 61645-61647 [2012-24886]

Download as PDF Federal Register / Vol. 77, No. 196 / Wednesday, October 10, 2012 / Notices Week of October 22, 2012—Tentative Tuesday, October 23, 2012 9:00 a.m. Strategic Programmatic Overview of the Spent Fuel Storage and Transportation and Fuel Facilities Business Lines (Public Meeting); (Contact: Kevin Mattern, 301–492–3221). This meeting will be webcast live at the Web address—www.nrc.gov. This notice is distributed electronically to subscribers. If you no longer wish to receive it, or would like to be added to the distribution, please contact the Office of the Secretary, Washington, DC 20555 (301–415–1969), or send an email to darlene.wright@nrc.gov. Dated: October 4, 2012. Rochelle C. Bavol, Policy Coordinator, Office of the Secretary. Week of October 15, 2012—Tentative There are no meetings scheduled for the week of October 15, 2012. Week of October 29, 2012—Tentative Tuesday, October 30, 2012 9:30 a.m. Briefing on Fort Calhoun (Public Meeting); (Contact: Michael Hay, 817–200–1527). This meeting will be webcast live at the Web address—www.nrc.gov. Week of November 5, 2012—Tentative Monday, November 5, 2012 1:30p.m. NRC All Employees Meeting (Public Meeting), Marriott Bethesda North Hotel, 5701 Marinelli Road, Rockville, MD 20852. rmajette on DSK2TPTVN1PROD with NOTICES Thursday, November 8, 2012 9:30 a.m. Discussion of Management Issues (Closed—Ex. 2). Week of November 12, 2012—Tentative There are no meetings scheduled for the week of November 12, 2012. * * * * * * The schedule for Commission meetings is subject to change on short notice. To verify the status of meetings, call (recording)—301–415–1292. Contact person for more information: Rochelle Bavol, 301–415–1651. * * * * * The NRC Commission Meeting Schedule can be found on the Internet at: https://www.nrc.gov/public-involve/ public-meetings/schedule.html. * * * * * The NRC provides reasonable accommodation to individuals with disabilities where appropriate. If you need a reasonable accommodation to participate in these public meetings, or need this meeting notice or the transcript or other information from the public meetings in another format (e.g. braille, large print), please notify Bill Dosch, Chief, Work Life and Benefits Branch, at 301–415–6200, TDD: 301– 415–2100, or by email at william.dosch@nrc.gov. Determinations on requests for reasonable accommodation will be made on a caseby-case basis. * * * * * VerDate Mar<15>2010 15:15 Oct 09, 2012 Jkt 229001 [FR Doc. 2012–24985 Filed 10–5–12; 4:15 pm] BILLING CODE 7590–01–P NUCLEAR REGULATORY COMMISSION Exelon Generation Company, LLC, Victoria County Station Site; Notice of Withdrawal of Application for an Early Site Permit By letter dated March 25, 2010, Exelon Nuclear Texas Holdings, LLC, (Exelon) submitted an application for an Early Site Permit (ESP) for the Victoria County Station (VCS) site located in Victoria County, Texas to the U.S. Nuclear Regulatory Commission (NRC or the Commission) in accordance with the requirements contained in part 52 of Title 10 of the Code of Federal Regulations (10 CFR), ‘‘Licenses, Certifications and Approvals for Nuclear Power Plants.’’ A notice acknowledging receipt and availability of this application was published in the Federal Register on April 28, 2010 (75 FR 22434). On June 14, 2010 (75 FR 33653), a subsequent notice was published in the Federal Register announcing the acceptance of the VCS ESP application for docketing in accordance with 10 CFR part 2, ‘‘Rules of Practice for Domestic Licensing Proceedings and Issuance of Orders,’’ and 10 CFR part 52. The docket number established for this application is 52–042. By letter dated August 28, 2012, Exelon requested that the VCS ESP application be withdrawn from the docket. Pursuant to the requirements in 10 CFR part 2, the Commission grants Exelon its request to withdraw the VCS ESP application. Documents may be examined, and/or copied for a fee, at the NRC’s Public Document Room (PDR), located at One White Flint North, Public File Area O1 F21, 11555 Rockville Pike (first floor), Rockville, Maryland. Publicly available records are accessible electronically from the Agencywide Documents Access and Management System (ADAMS) Public Electronic Reading Frm 00077 Fmt 4703 Sfmt 4703 Room on the internet at the NRC Web site, https://www.nrc.gov/reading-rm/ adams.html. Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS should contact the NRC PDR Reference staff by telephone at 1–800–397–4209, or 301–415–4737 or by email to pdr.resource@nrc.gov. Dated at Rockville, Maryland, this 3rd day of October 2012. For the Nuclear Regulatory Commission. David B. Matthews, Director, Division of New Reactor Licensing, Office of New Reactors. [FR Doc. 2012–24922 Filed 10–9–12; 8:45 am] [Docket No. 52–042; NRC–2012–0165] PO 00000 61645 BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67973; File No. SR–ISE– 2012–73] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Make Non-Substantive Clarifications to the Exchange’s Schedule of Fees October 3, 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 September 25, 2012, the International Securities Exchange, LLC (the ‘‘Exchange’’ or the ‘‘ISE’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which items have been prepared by the self-regulatory organization. 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 ISE is proposing to make nonsubstantive clarifications to 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. 1 15 2 17 E:\FR\FM\10OCN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 10OCN1 61646 Federal Register / Vol. 77, No. 196 / Wednesday, October 10, 2012 / 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 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 rmajette on DSK2TPTVN1PROD with NOTICES 1. Purpose On July 25 of this year, the Exchange submitted a rule filing to relocate various fees within the Exchange’s Schedule of Fees (the ‘‘old fee schedule’’) to group fees so that the Exchange’s fees would be easily located within the fee schedule (the ‘‘reformatted fee schedule’’).3 The Exchange did not propose to make any substantive changes in that filing, and did not change the manner in which it assessed the fees as a result of the adoption of the re-formatted fee schedule. Nevertheless, some uncertainty as to the application of certain fees and rebates was introduced by the re-formatted fee schedule. The purpose of this proposed rule change is to make two clarifications on the reformatted fee schedule. The Exchange is not proposing any substantive changes to its fees. First, on the old fee schedule, there was a footnote to the crossing order execution fees for Select Symbols 4 stating that a rebate of $0.15 per contract for Facilitation and Solicited Orders, and $0.25 per contract for PIM orders, applied to contracts that do not trade with their contra order. This footnote indicated that the rebate would be applied in lieu of the execution fee. On the re-formatted fee schedule, separate 3 See Exchange Act Release No. 67545 (July 31, 2012), 77 FR 46776 (August 6, 2012) (SR–ISE–2012– 65). 4 ‘‘Select Symbols’’ are options overlying C, BAC, SPY, IWM, XLF, GE, JPM, INTC, RIMM, T, VZ, UNG, FCX, CSCO, DIA, X, AA, AIG, AXP, BBY, CAT, CHK, DNDN, EEM, EFA, EWZ, F, FAS, FAZ, FSLR, GDX, GLD, IYR, MGM, MS, MSFT, MU, PBR, PG, POT, RIG, SLV, XLE, XOM, ABX, BMY, BP, DELL, FXI, HAL, IBM, KO, LVS, MCD, MO, MON, NOK, ORCL, PFE, QCOM, SLB, SNDK, TBT, USO, V, VALE, WFT, XLI, XRT, YHOO, AKAM, AMD, APC, BA, BRCM, GG, HPQ, LCC, NEM, NFLX, NVDA, QID, TEVA, TLT, UAL, WFC, XLB, SBUX, VVUS, MSI, AAPL, BIDU, and VXX. VerDate Mar<15>2010 15:15 Oct 09, 2012 Jkt 229001 columns were added to the table of fees for Select Symbols to indicate these rebates. As a result, it might not be clear that the execution fee for crossing orders is not applied to contracts that receive the rebate. Accordingly, the Exchange proposes to add the following text in the footnotes to each rebate: ‘‘The fee for Crossing Orders is not applied to any contracts for which a rebate is provided.’’ Second, on the old fee schedule, an execution fee of $0.20 per contract was specified for Non-Select Symbols 5 for ‘‘Customer (entered in response to special order broadcast).’’ This fee was adopted in January 2007 and has always been applied to ‘‘response messages’’ entered with respect to a particular broadcast message, but not to orders that are received on the limit order book after an auction commences.6 The Exchange later adopted a similar response fee for Regular Orders in Select Symbols,7 for complex orders in Select Symbols 8 and then for Regular Orders in Special Non-Select Penny Pilot Symbols 9 of $0.40 per contract, and more recently, adopted a fee for complex orders in Non-Penny Pilot Symbols 10 of $0.70 per contract ($0.75 per contract for Non-ISE Market Makers (FarMM)) for responses to special orders,11 but specified that a ‘‘response’’ is any contra-side interest submitted after the commencement of an auction. Thus, the fees for Regular Orders in Select Symbols and Special Non-Select Penny Pilot Symbols and all complex 5 ‘‘Non-Select Symbols’’ are options overlying all symbols excluding Select Symbols and Special Non-Select Penny Pilot Symbols. 6 See Exchange Act Release No. 55060 (Jan. 8, 2007), 72 FR 2050 (Jan. 17, 2007) (SR–ISE–2006– 72). 7 See Exchange Act Release No. 63283 (Nov. 9, 2010), 75 FR 70059 (Nov. 16, 2010) (SR–ISE–2010– 106). 8 See Exchange Act Release No. 65550 (October 13, 2011), 76 FR 64984 (October 19, 2012 [sic]) (SR– ISE–2011–65). In this filing, the Exchange also adopted a response fee for complex orders for symbols that are in the Penny Pilot Program. 9 See Exchange Act Release No. 67201 (June 14, 2012), 77 FR 37082 (June 20, 2012) (SR–ISE–2012– 49). ‘‘Special Non-Select Penny Pilot Symbols’’ are options overlying ACI, AGNC, AMLN, AMZN, ANR, APA, ARNA, ATPG, AUY, BAX, BTU, CLF, COP, CRM, CVX, DAL, DD, DE, DIS, DOW, EBAY, FDX, GLW, GM, GMCR, GS, HD, HGSI, JCP, JOY, KBH, KGC, LULU, MA, MBI, MCP, MDT, MMR, MOS, MRK, NKE, PEP, QQQ, S, SD, SDS, SHLD, SINA, SIRI, SLW, SSO, TZA, UNP, UPS, USB, UTX, VLO, WAG, WDC, WLT, WYNN, XHB, XLK, XLU and ZNGA. 10 See Exchange Act Release No. 66084 (January 3, 2012), 77 FR 1103 (January 9, 2012) (SR–ISE– 2011–84). This fee was later increased to $0.75 per contract ($0.78 per contract for Non-ISE Market Makers). See Exchange Act Release No. 66962 (May 10, 2012), 77 FR 28917 (May 16, 2012) (SR–ISE– 2012–35). 11 The term ‘‘special order’’ was changed to ‘‘crossing order’’ in the re-formatted fee schedule. PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 orders are applied to both response messages and to orders received on the limit order book after an auction commences, whereas the fees for Regular Orders in Non-Select Symbols are applied to response messages. When the fee schedule was reformatted, a single definition of ‘‘Response to Crossing Orders’’ that reflects the definition for Regular Orders in Select Symbols and Special NonSelect Penny Pilot Symbols and all complex orders was added to the Preface of the fee schedule. Because the defined terms in the Preface apply to all symbols, including Non-Select Symbols, it appears as though regular customer orders received after the commencement of an auction in Non-Select Symbols are now being charged the $0.20 response fee when that is not the case. Accordingly, the Exchange proposes to amend the Preface of the fee schedule to clearly indicate that the current definition of ‘‘Responses to Crossing Order’’ is applicable to Regular Orders in Select Symbols and Special NonSelect Penny Pilot Symbols and all complex orders and to add the appropriate definition for Non-Select Symbols as follows: ➢ ‘‘Responses to Crossing Order’’ (other than Regular Orders in NonSelect Symbols) is any contra-side interest submitted after the commencement of an auction in the Exchange’s Facilitation Mechanism, Solicited Order Mechanism, Block Order Mechanism or PIM. ➢ ‘‘Responses to Crossing Order’’ (for Regular Orders in Non-Select Symbols) is any response message entered with respect to a specific auction in the Exchange’s Facilitation Mechanism, Solicited Order Mechanism, Block Order Mechanism or PIM. 2. Statutory Basis The Exchange believes that its proposal to amend its Schedule of Fees is consistent with Section 6(b) of the Securities and Exchange Act of 1934 (the ‘‘Exchange Act’’) 12 in general, and furthers the objectives of Section 6(b)(4) of the Act 13 in particular, in that it is an equitable allocation of reasonable dues, fees and other charges among Exchange members and other persons using its facilities. The Exchange believes that its proposal to clarify the application of certain fees is both reasonable and equitable because members would benefit from clear guidance in the fee schedule that describes the manner in which the Exchange would assess fees. The 12 15 13 15 E:\FR\FM\10OCN1.SGM U.S.C. 78f(b). U.S.C. 78f(b)(4). 10OCN1 Federal Register / Vol. 77, No. 196 / Wednesday, October 10, 2012 / Notices Exchange believes the proposed rule change is also reasonable because it makes clarifying changes to the Preface and to footnotes and thereby provides greater transparency to the Exchange’s Schedule of Fees. 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.14 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. 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: rmajette on DSK2TPTVN1PROD with 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–ISE–2012–73 on the subject line. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 14 15 U.S.C. 78s(b)(3)(A)(ii). VerDate Mar<15>2010 15:15 Oct 09, 2012 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–ISE–2012–73. 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– 2012–73 and should be submitted on or before October 31, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–24886 Filed 10–9–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–67971; File No. SR–FINRA– 2012–044] Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Trading Activity Fee Rate for Transactions in Security Futures October 3, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 15 17 Jkt 229001 PO 00000 CFR 200.30–3(a)(12). Frm 00079 Fmt 4703 Sfmt 4703 61647 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on September 26, 2012, the Financial Industry Regulatory Authority, Inc. (‘‘FINRA’’) 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 FINRA. FINRA has designated the proposed rule change as ‘‘establishing or changing a due, fee or other charge’’ under 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 change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change FINRA is proposing to amend Section 1 of Schedule A to the FINRA By-Laws to adjust the rate of FINRA’s Trading Activity Fee (‘‘TAF’’) for round turn transactions in security futures. The text of the proposed rule change is available on FINRA’s Web site at https://www.finra.org, at the principal office of FINRA 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, FINRA 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. FINRA 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 FINRA’s primary member fee structure consists of the following: the Personnel Assessment; the Gross Income Assessment; and the TAF. These fees are used to fund FINRA’s regulatory activities, including examinations; financial monitoring; and FINRA’s policymaking, rulemaking, and 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 E:\FR\FM\10OCN1.SGM 10OCN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 77, Number 196 (Wednesday, October 10, 2012)]
[Notices]
[Pages 61645-61647]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-24886]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67973; File No. SR-ISE-2012-73]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change To Make Non-Substantive Clarifications to the Exchange's 
Schedule of Fees

October 3, 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 September 25, 2012, the International Securities Exchange, LLC 
(the ``Exchange'' or the ``ISE'') filed with the Securities and 
Exchange Commission (the ``Commission'') the proposed rule change as 
described in Items I, II, and III below, which items have been prepared 
by the self-regulatory organization. The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The ISE is proposing to make non-substantive clarifications to 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.

[[Page 61646]]

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
    On July 25 of this year, the Exchange submitted a rule filing to 
relocate various fees within the Exchange's Schedule of Fees (the ``old 
fee schedule'') to group fees so that the Exchange's fees would be 
easily located within the fee schedule (the ``re-formatted fee 
schedule'').\3\ The Exchange did not propose to make any substantive 
changes in that filing, and did not change the manner in which it 
assessed the fees as a result of the adoption of the re-formatted fee 
schedule. Nevertheless, some uncertainty as to the application of 
certain fees and rebates was introduced by the re-formatted fee 
schedule. The purpose of this proposed rule change is to make two 
clarifications on the re-formatted fee schedule. The Exchange is not 
proposing any substantive changes to its fees.
---------------------------------------------------------------------------

    \3\ See Exchange Act Release No. 67545 (July 31, 2012), 77 FR 
46776 (August 6, 2012) (SR-ISE-2012-65).
---------------------------------------------------------------------------

    First, on the old fee schedule, there was a footnote to the 
crossing order execution fees for Select Symbols \4\ stating that a 
rebate of $0.15 per contract for Facilitation and Solicited Orders, and 
$0.25 per contract for PIM orders, applied to contracts that do not 
trade with their contra order. This footnote indicated that the rebate 
would be applied in lieu of the execution fee. On the re-formatted fee 
schedule, separate columns were added to the table of fees for Select 
Symbols to indicate these rebates. As a result, it might not be clear 
that the execution fee for crossing orders is not applied to contracts 
that receive the rebate. Accordingly, the Exchange proposes to add the 
following text in the footnotes to each rebate: ``The fee for Crossing 
Orders is not applied to any contracts for which a rebate is 
provided.''
---------------------------------------------------------------------------

    \4\ ``Select Symbols'' are options overlying C, BAC, SPY, IWM, 
XLF, GE, JPM, INTC, RIMM, T, VZ, UNG, FCX, CSCO, DIA, X, AA, AIG, 
AXP, BBY, CAT, CHK, DNDN, EEM, EFA, EWZ, F, FAS, FAZ, FSLR, GDX, 
GLD, IYR, MGM, MS, MSFT, MU, PBR, PG, POT, RIG, SLV, XLE, XOM, ABX, 
BMY, BP, DELL, FXI, HAL, IBM, KO, LVS, MCD, MO, MON, NOK, ORCL, PFE, 
QCOM, SLB, SNDK, TBT, USO, V, VALE, WFT, XLI, XRT, YHOO, AKAM, AMD, 
APC, BA, BRCM, GG, HPQ, LCC, NEM, NFLX, NVDA, QID, TEVA, TLT, UAL, 
WFC, XLB, SBUX, VVUS, MSI, AAPL, BIDU, and VXX.
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    Second, on the old fee schedule, an execution fee of $0.20 per 
contract was specified for Non-Select Symbols \5\ for ``Customer 
(entered in response to special order broadcast).'' This fee was 
adopted in January 2007 and has always been applied to ``response 
messages'' entered with respect to a particular broadcast message, but 
not to orders that are received on the limit order book after an 
auction commences.\6\ The Exchange later adopted a similar response fee 
for Regular Orders in Select Symbols,\7\ for complex orders in Select 
Symbols \8\ and then for Regular Orders in Special Non-Select Penny 
Pilot Symbols \9\ of $0.40 per contract, and more recently, adopted a 
fee for complex orders in Non-Penny Pilot Symbols \10\ of $0.70 per 
contract ($0.75 per contract for Non-ISE Market Makers (FarMM)) for 
responses to special orders,\11\ but specified that a ``response'' is 
any contra-side interest submitted after the commencement of an 
auction. Thus, the fees for Regular Orders in Select Symbols and 
Special Non-Select Penny Pilot Symbols and all complex orders are 
applied to both response messages and to orders received on the limit 
order book after an auction commences, whereas the fees for Regular 
Orders in Non-Select Symbols are applied to response messages.
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    \5\ ``Non-Select Symbols'' are options overlying all symbols 
excluding Select Symbols and Special Non-Select Penny Pilot Symbols.
    \6\ See Exchange Act Release No. 55060 (Jan. 8, 2007), 72 FR 
2050 (Jan. 17, 2007) (SR-ISE-2006-72).
    \7\ See Exchange Act Release No. 63283 (Nov. 9, 2010), 75 FR 
70059 (Nov. 16, 2010) (SR-ISE-2010-106).
    \8\ See Exchange Act Release No. 65550 (October 13, 2011), 76 FR 
64984 (October 19, 2012 [sic]) (SR-ISE-2011-65). In this filing, the 
Exchange also adopted a response fee for complex orders for symbols 
that are in the Penny Pilot Program.
    \9\ See Exchange Act Release No. 67201 (June 14, 2012), 77 FR 
37082 (June 20, 2012) (SR-ISE-2012-49). ``Special Non-Select Penny 
Pilot Symbols'' are options overlying ACI, AGNC, AMLN, AMZN, ANR, 
APA, ARNA, ATPG, AUY, BAX, BTU, CLF, COP, CRM, CVX, DAL, DD, DE, 
DIS, DOW, EBAY, FDX, GLW, GM, GMCR, GS, HD, HGSI, JCP, JOY, KBH, 
KGC, LULU, MA, MBI, MCP, MDT, MMR, MOS, MRK, NKE, PEP, QQQ, S, SD, 
SDS, SHLD, SINA, SIRI, SLW, SSO, TZA, UNP, UPS, USB, UTX, VLO, WAG, 
WDC, WLT, WYNN, XHB, XLK, XLU and ZNGA.
    \10\ See Exchange Act Release No. 66084 (January 3, 2012), 77 FR 
1103 (January 9, 2012) (SR-ISE-2011-84). This fee was later 
increased to $0.75 per contract ($0.78 per contract for Non-ISE 
Market Makers). See Exchange Act Release No. 66962 (May 10, 2012), 
77 FR 28917 (May 16, 2012) (SR-ISE-2012-35).
    \11\ The term ``special order'' was changed to ``crossing 
order'' in the re-formatted fee schedule.
---------------------------------------------------------------------------

    When the fee schedule was re-formatted, a single definition of 
``Response to Crossing Orders'' that reflects the definition for 
Regular Orders in Select Symbols and Special Non-Select Penny Pilot 
Symbols and all complex orders was added to the Preface of the fee 
schedule. Because the defined terms in the Preface apply to all 
symbols, including Non-Select Symbols, it appears as though regular 
customer orders received after the commencement of an auction in Non-
Select Symbols are now being charged the $0.20 response fee when that 
is not the case. Accordingly, the Exchange proposes to amend the 
Preface of the fee schedule to clearly indicate that the current 
definition of ``Responses to Crossing Order'' is applicable to Regular 
Orders in Select Symbols and Special Non-Select Penny Pilot Symbols and 
all complex orders and to add the appropriate definition for Non-Select 
Symbols as follows:
    [rtarr8] ``Responses to Crossing Order'' (other than Regular Orders 
in Non-Select Symbols) is any contra-side interest submitted after the 
commencement of an auction in the Exchange's Facilitation Mechanism, 
Solicited Order Mechanism, Block Order Mechanism or PIM.
    [rtarr8] ``Responses to Crossing Order'' (for Regular Orders in 
Non-Select Symbols) is any response message entered with respect to a 
specific auction in the Exchange's Facilitation Mechanism, Solicited 
Order Mechanism, Block Order Mechanism or PIM.
2. Statutory Basis
    The Exchange believes that its proposal to amend its Schedule of 
Fees is consistent with Section 6(b) of the Securities and Exchange Act 
of 1934 (the ``Exchange Act'') \12\ in general, and furthers the 
objectives of Section 6(b)(4) of the Act \13\ in particular, in that it 
is an equitable allocation of reasonable dues, fees and other charges 
among Exchange members and other persons using its facilities. The 
Exchange believes that its proposal to clarify the application of 
certain fees is both reasonable and equitable because members would 
benefit from clear guidance in the fee schedule that describes the 
manner in which the Exchange would assess fees. The

[[Page 61647]]

Exchange believes the proposed rule change is also reasonable because 
it makes clarifying changes to the Preface and to footnotes and thereby 
provides greater transparency to the Exchange's Schedule of Fees.
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    \12\ 15 U.S.C. 78f(b).
    \13\ 15 U.S.C. 78f(b)(4).
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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.\14\ 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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    \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 Number SR-ISE-2012-73 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-2012-73. 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-2012-73 and should be 
submitted on or before October 31, 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. 2012-24886 Filed 10-9-12; 8:45 am]
BILLING CODE 8011-01-P

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