Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Revise Its Fee Structure as It Relates to Certain Insurance and Retirement Processing Services and To Remove Reference to and the Fees Related to FundSPEED, a Discontinued Service, 1292-1293 [2013-00083]
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<![CDATA[
1292
Federal Register / Vol. 78, No. 5 / Tuesday, January 8, 2013 / Notices
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–
NYSEMKT–2012–86 and should be
submitted on or before January 29, 2013.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.22
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–00082 Filed 1–7–13; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68562; File No. SR–NSCC–
2012–11]
Self-Regulatory Organizations;
National Securities Clearing
Corporation; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Revise Its Fee
Structure as It Relates to Certain
Insurance and Retirement Processing
Services and To Remove Reference to
and the Fees Related to FundSPEED,
a Discontinued Service
January 2, 2013.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder 2
notice is hereby given that on December
21, 2012, the National Securities
Clearing Corporation (‘‘NSCC’’) 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 primarily by NSCC.
NSCC filed the proposed rule change
pursuant to Section 19(b)(3)(A)(ii) 3 of
the Act and Rule 19b–4(f)(2) 4
thereunder, so that the proposed rule
change was effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
srobinson on DSK4SPTVN1PROD with
I. Clearing Agency’s Statement of the
Terms of Substance of the Proposed
Rule Change
The proposed rule change is to revise
Addendum A (Fee Structure) of NSCC’s
Rules & Procedures (‘‘Rules’’) as it
relates to certain Insurance and
22 17
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)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
VerDate Mar<15>2010
19:11 Jan 07, 2013
Retirement Services (‘‘I&RS’’) fees and
remove reference to FundSPEED, a
discontinued service.
II. Clearing Agency’s Statement of the
Purpose of, and Statutory Basis for, the
Proposed Rule Change
In its filing with the Commission,
NSCC 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. NSCC has prepared
summaries, set forth in sections (A), (B),
and (C) below, of the most significant
aspects of such statements.5
(A) Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
(a) Proposal Overview
The purpose of the proposed rule
change is to revise NSCC’s fee schedule
(as listed in Addendum A of the Rules),
as it relates to certain I&RS, to replace
the current fee structure with a tiered
fee structure. This change is being made
in order to simplify the fee schedule
with respect to these services. In
connection with this change, certain
I&RS fees have been changed in order to
align those fees with the costs of
delivering the related services, with the
expectation that the fee changes, in the
aggregate, will be revenue neutral to
NSCC.
The Addendum A I&RS fee schedule
changes are:
• Eliminating the Business
Attachment subpart and associated fees;
• Eliminating the Licensing and
Appointments subpart and associated
fees;
• Eliminating the Request for
Replacement subpart and associated
fees;
• Eliminating the Request for
Replacement Status (including
incremental statuses) subpart and
associated fees;
• Eliminating the Inforce Transaction
Fees section and associated fees; and
• Adding an Other Services Fees
section, comprised of the following five
tiers and associated fees and services:
1. TIER 1—$0.05—All Attachments
(per attachment, per side);
2. TIER 2—$0.15—Licensing and
Appointments (L&A) Periodic
Reconciliation (per item);
3. TIER 3—$0.35—Licensing and
Appointments (L&A) Transaction (per
item), Registered Representative Change
5 The Commission has modified the text of the
summaries prepared by NSCC.
Jkt 229001
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Confirm (per transaction, per side),
Brokerage Identification Number
Change Request (per transaction, per
side), Brokerage Identification Number
Change Confirm (per transaction, per
side), Values Inquiry (per inquiry,
includes response, per side);
4. TIER 4—$0.65—Customer Account
Transfer Output (per transaction,
charged to Insurance Carrier/Retirement
Services Member only), Customer
Account Transfer Confirm (per
transaction, per side), Settlement
Processing (per transaction, per side),
Request for Replacement Status (a/k/a
Pending Case Status)—Receiving Carrier
(per Request for Replacement Status),
Request for Replacement Status (a/k/a
Pending Case Status)—Deliverer (per
Request for Replacement Status),
Registered Representative Change
Request (per transaction, per side), Time
Expired Transaction (per transaction,
per side); and
5. TIER 5—$1.25—Fund Transfer (per
request, per side), Withdrawals (per
request, per side), Arrangements (per
request, per side), Request for
Replacement—Delivering Carrier (per
request), Request for Replacement—
Receiving Carrier (per request). NSCC is
also removing reference to the I&RS
‘‘Beneficiary Update Request’’ and
‘‘Beneficiary Confirm’’ in Addendum A
of the Rules. These functions do not
require a line item in the fee schedule
because there is no charge for these
services.
In addition, NSCC is making a
technical change to remove from
Addendum A of the Rules reference to
and the fees related to FundSPEED, as
this service was discontinued.
The above changes took effect on
January 1, 2013.
(b) Statutory Basis
NSCC believes the proposed rule is
consistent with the requirements of the
Act, specifically Section 17A(b)(3)(F),6
and the rules and regulations
thereunder applicable to NSCC because
it updates NSCC’s fee schedule to align
fees with the costs of delivering
services. As such, it provides for the
equitable allocation of fees among
NSCC’s Members.
(B) Self-Regulatory Organization’s
Statement on Burden on Competition
NSCC does not believe that the
proposed rule change will have any
impact, or impose any burden, on
competition.
6 15
E:\FR\FM\08JAN1.SGM
U.S.C. 78q-1(b)(3)(F).
08JAN1
Federal Register / Vol. 78, No. 5 / Tuesday, January 8, 2013 / Notices
(C) Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments relating to the
proposed rule change have not yet been
solicited or received. NSCC will notify
the Commission of any written
comments received by NSCC.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The forgoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act 7 and Rule 19b–
4(f)(2) 8 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
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
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 such
filings will also be available for
inspection and copying at the principal
office of NSCC and on NSCC’s Web site
at https://www.dtcc.com/downloads/
legal/rule_filings/2012/nscc/SRO-NSCC2012-11.pdf.
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–NSCC–2012–11 and should
be submitted on or before January 29,
2013.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2013–00083 Filed 1–7–13; 8:45 am]
srobinson on DSK4SPTVN1PROD with
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–NSCC–2012–11 on the subject
line.
BILLING CODE 8011–01–P
Paper Comments
• Send 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–NSCC–2012–11. 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
Self-Regulatory Organizations;
NASDAQ OMX BX, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change Relating to
Non-Penny Pilot Options Fees
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–68556; File No. SR–BX–
2012–074]
January 2, 2013.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1, and Rule 19b–4 thereunder,2
notice is hereby given that on December
18, 2012, NASDAQ OMX BX, Inc. (‘‘BX’’
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.
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
7 15
U.S.C. 78s(b)(3)(A)(ii).
8 17 CFR 240.19b–4(f)(2).
VerDate Mar<15>2010
21:09 Jan 07, 2013
1 15
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Sfmt 4703
1293
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend BX
Options Rules, Chapter XV, Section 2
entitled ‘‘BX Options Market—Fees and
Rebates’’ to adopt fees and rebates for
Non-Penny Pilot Options.3
While the changes proposed herein
are effective upon filing, the Exchange
has designated these changes to be
operative on January 2, 2013.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://nasdaqomxbx.cchwallstreet.
com/NASDAQOMXBX/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
BX proposes to amend Chapter XV,
Section 2(1) to adopt fees and rebates for
Customers, BX Options Market Makers 4
and Non-Customers 5 trading in NonPenny Pilot Options on its options
market. The Exchange believes the
addition of Non-Penny Pilot Options
fees and rebates will allow the Exchange
to compete more effectively with other
exchanges that have similarly adopted
such pricing. The Exchange plans to list
Non-Penny Pilot Options on January 2,
2013.
The Exchange proposes to adopt a Fee
to Add Liquidity, a Rebate to Remove
Liquidity and a Fee to Remove Liquidity
in Non-Penny Pilot Options.
Specifically, the Exchange proposes to
3 Non-Penny Pilot refers to options classes not in
the Penny Pilot.
4 A BX Options Market Maker must be registered
as such pursuant to Chapter VII, Section 2 of the
BX Options Rules, and must also remain in good
standing pursuant to Chapter VII, Section 4.
5 A Non-Customer includes a Professional, Firm,
Broker-Dealer and Non-BX Options Market Maker.
E:\FR\FM\08JAN1.SGM
08JAN1
]]>Agencies
[Federal Register Volume 78, Number 5 (Tuesday, January 8, 2013)]
[Notices]
[Pages 1292-1293]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-00083]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-68562; File No. SR-NSCC-2012-11]
Self-Regulatory Organizations; National Securities Clearing
Corporation; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Revise Its Fee Structure as It Relates to Certain
Insurance and Retirement Processing Services and To Remove Reference to
and the Fees Related to FundSPEED, a Discontinued Service
January 2, 2013.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder \2\ notice is hereby given that
on December 21, 2012, the National Securities Clearing Corporation
(``NSCC'') 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 primarily by NSCC. NSCC
filed the proposed rule change pursuant to Section 19(b)(3)(A)(ii) \3\
of the Act and Rule 19b-4(f)(2) \4\ thereunder, so that the proposed
rule change was effective upon filing with the Commission. 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.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change
The proposed rule change is to revise Addendum A (Fee Structure) of
NSCC's Rules & Procedures (``Rules'') as it relates to certain
Insurance and Retirement Services (``I&RS'') fees and remove reference
to FundSPEED, a discontinued service.
II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change
In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A),
(B), and (C) below, of the most significant aspects of such
statements.\5\
---------------------------------------------------------------------------
\5\ The Commission has modified the text of the summaries
prepared by NSCC.
---------------------------------------------------------------------------
(A) Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
(a) Proposal Overview
The purpose of the proposed rule change is to revise NSCC's fee
schedule (as listed in Addendum A of the Rules), as it relates to
certain I&RS, to replace the current fee structure with a tiered fee
structure. This change is being made in order to simplify the fee
schedule with respect to these services. In connection with this
change, certain I&RS fees have been changed in order to align those
fees with the costs of delivering the related services, with the
expectation that the fee changes, in the aggregate, will be revenue
neutral to NSCC.
The Addendum A I&RS fee schedule changes are:
Eliminating the Business Attachment subpart and associated
fees;
Eliminating the Licensing and Appointments subpart and
associated fees;
Eliminating the Request for Replacement subpart and
associated fees;
Eliminating the Request for Replacement Status (including
incremental statuses) subpart and associated fees;
Eliminating the Inforce Transaction Fees section and
associated fees; and
Adding an Other Services Fees section, comprised of the
following five tiers and associated fees and services:
1. TIER 1--$0.05--All Attachments (per attachment, per side);
2. TIER 2--$0.15--Licensing and Appointments (L&A) Periodic
Reconciliation (per item);
3. TIER 3--$0.35--Licensing and Appointments (L&A) Transaction (per
item), Registered Representative Change Confirm (per transaction, per
side), Brokerage Identification Number Change Request (per transaction,
per side), Brokerage Identification Number Change Confirm (per
transaction, per side), Values Inquiry (per inquiry, includes response,
per side);
4. TIER 4--$0.65--Customer Account Transfer Output (per
transaction, charged to Insurance Carrier/Retirement Services Member
only), Customer Account Transfer Confirm (per transaction, per side),
Settlement Processing (per transaction, per side), Request for
Replacement Status (a/k/a Pending Case Status)--Receiving Carrier (per
Request for Replacement Status), Request for Replacement Status (a/k/a
Pending Case Status)--Deliverer (per Request for Replacement Status),
Registered Representative Change Request (per transaction, per side),
Time Expired Transaction (per transaction, per side); and
5. TIER 5--$1.25--Fund Transfer (per request, per side),
Withdrawals (per request, per side), Arrangements (per request, per
side), Request for Replacement--Delivering Carrier (per request),
Request for Replacement--Receiving Carrier (per request). NSCC is also
removing reference to the I&RS ``Beneficiary Update Request'' and
``Beneficiary Confirm'' in Addendum A of the Rules. These functions do
not require a line item in the fee schedule because there is no charge
for these services.
In addition, NSCC is making a technical change to remove from
Addendum A of the Rules reference to and the fees related to FundSPEED,
as this service was discontinued.
The above changes took effect on January 1, 2013.
(b) Statutory Basis
NSCC believes the proposed rule is consistent with the requirements
of the Act, specifically Section 17A(b)(3)(F),\6\ and the rules and
regulations thereunder applicable to NSCC because it updates NSCC's fee
schedule to align fees with the costs of delivering services. As such,
it provides for the equitable allocation of fees among NSCC's Members.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------
(B) Self-Regulatory Organization's Statement on Burden on Competition
NSCC does not believe that the proposed rule change will have any
impact, or impose any burden, on competition.
[[Page 1293]]
(C) Self-Regulatory Organization's Statement on Comments on the
Proposed Rule Change Received From Members, Participants, or Others
Written comments relating to the proposed rule change have not yet
been solicited or received. NSCC will notify the Commission of any
written comments received by NSCC.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The forgoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act \7\ and Rule 19b-4(f)(2) \8\ 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 action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(ii).
\8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an email to rule-comments@sec.gov. Please include
File No. SR-NSCC-2012-11 on the subject line.
Paper Comments
Send 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-NSCC-2012-11. 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 such filings will also be available
for inspection and copying at the principal office of NSCC and on
NSCC's Web site at https://www.dtcc.com/downloads/legal/rule_filings/2012/nscc/SRO-NSCC-2012-11.pdf.
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-NSCC-2012-11
and should be submitted on or before January 29, 2013.
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. 2013-00083 Filed 1-7-13; 8:45 am]
BILLING CODE 8011-01-P
