2176 Federal Register / Vol. 76, No. 8 / Wednesday, January 12, 2011 / Notices 

13 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4 15 U.S.C. 78s(b)(3)(A). 

5 17 CFR 240.19b–4(f)(2). 

6See SR–NYSE–2010–87 (the ‘‘NYSE Fee Filing’’) 

and SR–NYSEAmex–2010–125 (the ‘‘NYSE Amex 

Fee Filing’’). 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–ISE–2011–01 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–2011–01. This file 

number should be included on the 

subject line if e-mail 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 (http://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–ISE– 

2011–01 and should be submitted on or 

before February 2, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–440 Filed 1–11–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63649; File No. SR– 

NYSEArca–2010–122] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending the NYSE Arca 

Equities Schedule of Fees and 

Charges for Exchange Services 

January 5, 2011. 

Pursuant to Section 19(b)(1) 1 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that, on December 

28, 2010, NYSE Arca, Inc. (‘‘NYSE Arca’’ 

or the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the self-regulatory organization. 

NYSE Arca filed the proposal pursuant 

to Section 19(b)(3)(A) 4 of the Act and 

Rule 19b–4(f)(2) 5 thereunder. 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 Exchange proposes to amend the 

NYSE Arca Equities Schedule of Fees 

and Charges for Exchange Services (the 

‘‘Schedule’’) to modify the fees that it 

charges for routing orders to the New 

York Stock Exchange LLC and NYSE 

Amex LLC for execution on those 

markets. The text of the proposed rule 

change is available at the Exchange, the 

Commission’s Public Reference Room, 

and http://www.nyse.com. 

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 those statements may be examined at 

the places specified in Item IV below. 

The Exchange has prepared summaries, 

set forth in sections A, B, and C below, 

of the most significant parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Effective January 1, 2011, the 

Exchange proposes to amend the 

Schedule to modify the fees that it 

charges for routing orders to the New 

York Stock Exchange LLC (‘‘NYSE’’) and 

NYSE Amex LLC (‘‘NYSE Amex’’) for 

execution on those markets. In two 

recent rule filings,6 both NYSE and 

NYSE Amex have modified their fee 

structures for equities transactions, 

including changes to the rates for taking 

liquidity and adding liquidity, to 

become effective at the beginning of 

January 2011. The Exchange’s current 

fees for routing orders to those 

exchanges are closely related to those 

exchanges’ fees for taking and adding 

liquidity, and the Exchange is proposing 

an adjustment to its routing fees to 

maintain the existing relationship to the 

new fees in place at the NYSE and 

NYSE Amex. 

The NYSE Fee Filing increased the 

NYSE’s charge for execution of 

customer orders that take liquidity from 

the NYSE from $0.0021 per share to 

$0.0023 per share, and increased the 

rebate for execution of customer orders 

that add liquidity to the NYSE from 

$0.0013 per share to $0.0015 per share. 

Currently, for NYSE Arca Tier 1 and 

Tier 2 customers, the fee for routing 

orders in Tape A securities to the NYSE 

outside the book is equal to the NYSE 

‘‘take’’ rate of $0.0021 per share, and the 

fee for routing such orders to the NYSE 

for non-tier customers is slightly higher 

at $0.0023 per share. Consequently, the 

Exchange is proposing to increase each 

of those fees by $0.0002 to $0.0023 per 

share and $0.0025 per share, 

respectively, in line with the $0.0002 

increase in the NYSE ‘‘take’’ rate. 

In addition, the Exchange currently 

charges $0.0019 per share for Primary 

Sweep Orders in Tape A securities that 

are routed outside the book to the NYSE 

for execution. This charge applies to 

Tier 1, Tier 2 and non-tier customers. In 

order to maintain the existing 

relationship to the other Exchange 

mstockstill on DSKH9S0YB1PROD with NOTICES

Federal Register / Vol. 76, No. 8 / Wednesday, January 12, 2011 / Notices 2177 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(4). 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(2). 

11The text of the proposed rule change is 

available on the Commission’s Web site at http:// 

www.sec.gov. 

12 17 CFR 200.30–3(a)(12). 

routing fees that are being adjusted 

upward, the Exchange is also proposing 

to increase this fee by $0.0002 to both 

tier and non-tier customers, to a level of 

$0.0021 per share. 

Finally, for Primary Only Plus (‘‘PO+’’) 

orders, the current Exchange fee for 

orders routed to the NYSE that remove 

liquidity from the NYSE is $0.0021 per 

share, which is equal to the current 

NYSE ‘‘take’’ rate, and the Exchange 

credit for such orders routed to the 

NYSE that provide liquidity to the 

NYSE is $0.0013 per share, which is 

equal to the current NYSE rebate for 

execution of customer orders that add 

liquidity to the NYSE. Consequently, 

the Exchange is proposing to increase its 

fees (credits) for routing PO+ orders to 

the NYSE by the same amount ($0.0002) 

as the increase in the corresponding 

NYSE fees (credits). The proposed new 

fee for PO+ orders routed to the NYSE 

that remove liquidity is $0.0023 per 

share, and the proposed new credit for 

such orders routed to the NYSE that 

provide liquidity is $0.0015 per share. 

These changes would maintain the 

current relationship with NYSE rates. 

The NYSE Amex Fee Filing increased 

NYSE Amex’s charge for execution of 

customer orders that take liquidity from 

NYSE Amex from $0.0025 per share to 

$0.0028 per share, and increased the 

rebate for execution of customer orders 

that add liquidity to NYSE Amex from 

$0.0015 per share to $0.0016 per share. 

Currently, the Exchange fee is $0.0025 

per share for PO and PO+ orders routed 

to NYSE Amex that remove liquidity 

from NYSE Amex, which is equal to the 

current NYSE Amex ‘‘take’’ rate, and the 

Exchange credit for such orders routed 

to NYSE Amex that provide liquidity to 

NYSE Amex is $0.0015, which is equal 

to the current NYSE Amex rebate for 

execution of customer orders that add 

liquidity to NYSE Amex. Consequently, 

the Exchange is proposing to increase its 

fees (credits) for routing PO and PO+ 

orders to NYSE Amex by the same 

amounts as the increase in the 

corresponding NYSE fees (credits). The 

proposed new fee for PO and PO+ 

orders routed to NYSE Amex that 

remove liquidity is $0.0028 per share, 

and the proposed new credit for such 

orders routed to NYSE Amex that 

provide liquidity is $0.0016 per share. 

These changes would maintain the 

current relationship with NYSE Amex 

rates. 

Finally, the Exchange is adding a 

sentence in the introduction of the Tier 

1 and Tier 2 volume levels to clarify that 

the calculation of U.S. Average Daily 

Consolidated Share Volume does not 

include trades on days when the market 

closes early. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),7 in general, and Section 6(b)(4) 

of the Act,8 in particular, in that it is 

designed to provide for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members and 

other persons using its facilities. The 

Exchange believes that the proposal 

does not constitute an inequitable 

allocation of fees, as all similarly 

situated member organizations and 

other market participants will be subject 

to the same fee structure, and access to 

the Exchange’s market is offered on fair 

and non-discriminatory terms. 

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 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 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 9 of the Act and 

subparagraph (f)(2) of Rule 19b–4 10

thereunder, because it establishes a due, 

fee, or other charge imposed by NYSE 

Arca. 

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: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NYSEArca–2010–122 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–NYSEArca–2010–122. This 

file number should be included on the 

subject line if e-mail 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 (http://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.11 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– 

NYSEArca–2010–122 and should be 

submitted on or before February 2, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–437 Filed 1–11–11; 8:45 am] 

BILLING CODE 8011–01–P 

mstockstill on DSKH9S0YB1PROD with NOTICES