3188 Federal Register / Vol. 76, No. 12 / Wednesday, January 19, 2011 / Notices 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Select Symbols refer to the symbols which are 

subject to ISE’s Rebates and Fees for Adding and 

Removing Liquidity in Select Symbols in ISE’s 

Schedule of Fees. 

4See SR–ISE–2010–120. 

5Firm is an order that clears as ‘‘Firm’’ with the 

Options Clearing Corporation (‘‘OCC’’). This fee of 

$0.55 is a fixed routing fee for routing orders for the 

account(s) of Firms. 

6This fee of $0.55 is a fixed routing fee for routing 

orders for the account(s) of Market Makers. The 

Exchange notes that some other options exchanges 

include Market Maker transaction and clearing fees 

as ‘‘broker-dealer’’ fees. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–955 Filed 1–18–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63705; File No. SR– 

NASDAQ–2011–006] 

Self-Regulatory Organizations; 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Routing Fees for the NASDAQ Options 

Market 

January 12, 2011. 

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 January 6, 

2011, The NASDAQ Stock Market LLC 

(‘‘NASDAQ’’ 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. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to modify 

Rule 7050 governing pricing for 

NASDAQ members using the NASDAQ 

Options Market (‘‘NOM’’), NASDAQ’s 

facility for executing and routing 

standardized equity and index options. 

The text of the proposed rule change 

is set forth below. Proposed new text is 

italicized and deleted text is in brackets. 

* * * * * 

7050. NASDAQ Options Market 

The following charges shall apply to 

the use of the order execution and 

routing services of the NASDAQ 

Options Market for all securities. 

(1)—(3) No Change. 

(4) Fees for routing contracts to 

markets other than the NASDAQ 

Options Market shall be assessed as 

provided below. The current fees and a 

historical record of applicable fees shall 

be posted on the NasdaqTrader.com 

Web site. 

Exchange Customer Firm MM Professional 

BATS ............................................................................................................................ $0.36 $0.55 $0.55 $0.36 

BOX ............................................................................................................................. 0.06 0.55 0.55 0.06 

CBOE ........................................................................................................................... 0.06 0.55 0.55 0.26 

CBOE orders greater than 99 contracts in NDX, MNX ETFs, ETNs & HOLDRs ....... 0.24 0.55 0.55 0.26 

ISE ............................................................................................................................... 0.06 0.55 0.55 0.24 

ISE Select Symbols* [of 100 or more contracts] ......................................................... 0.[26]18 0.55 0.55 0.3[1]4 

NYSE Arca Penny Pilot ............................................................................................... 0.50 0.55 0.55 0.50 

NYSE Arca Non Penny Pilot ....................................................................................... 0.06 0.55 0.55 0.06 

NYSE AMEX ................................................................................................................ 0.06 0.55 0.55 0.26 

PHLX (for all options other than PHLX Select Symbols) ............................................ 0.06 0.55 0.55 0.26 

PHLX Select Symbols** ............................................................................................... 0.30 0.55 0.55 0.46 

C2 ................................................................................................................................ 0.21 0.55 0.55 0.46 

* These fees are applicable to orders routed to ISE that are subject to Rebates and Fees for Adding and Removing Liquidity in Select Symbols. See ISE’s Schedule of Fees for the complete list of symbols that are subject to these fees. 

** These fees are applicable to orders routed to PHLX that are subject to Rebates and Fees for Adding and Removing Liquidity in Select Symbols. See PHLX’s Fee Schedule for the complete list of symbols that are subject to these fees. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://www.nasdaq.cchwall

street.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 

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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

NASDAQ is proposing to modify Rule 

7050 governing the fees assessed for 

options orders entered into NOM but 

routed to and executed on away markets 

(‘‘Routing Fees’’). Specifically, the 

Exchange is proposing to amend its 

current Routing Fees that are currently 

assessed on orders routed to the 

International Securities Exchange LLC 

(‘‘ISE’’) in Select Symbols 3 for orders of 

100 or more contracts. ISE recently 

amended its fees and the amendments 

proposed herein reflect the proposed 

ISE amendments.4

The Exchange proposes to assess 

Customers a fee of $0.18 per contract 

and Professionals a fee of $0.34 per 

contract for orders routed to ISE in 

Select Symbols. The Routing Fees 

currently assessed on Firms and Market 

Makers will remain unchanged. 

Currently, the Exchange assesses the 

following fees to route to ISE in Select 

Symbols of 100 or more contracts: $.26 

per contract for Customers, $0.55 per 

contract for Firms 5 and Market Makers 6

and $0.31 per contract for Professionals. 

mstockstill on DSKH9S0YB1PROD with NOTICES

Federal Register / Vol. 76, No. 12 / Wednesday, January 19, 2011 / Notices 3189 

7See SR–ISE–2010–120. 

8 15 U.S.C. 78f. 

9 15 U.S.C. 78f(b)(4). 

10 15 U.S.C. 78s(b)(3)(A)(ii). 

11 17 CFR 240.19b–4(f)(2). 12 17 CFR 200.30–3(a)(12). 

All other orders that are routed to ISE, 

including orders that are less than 100 

contracts, are assessed the rates labeled 

‘‘ISE’’. 

The Exchange also proposes to amend 

the title of the Routing Fees in ISE 

Select Symbols to state ‘‘ISE Select 

Symbols’’ rather than ‘‘ISE Select 

Symbols of 100 or more contracts’’ to 

reflect the recent amendments to ISE’s 

fees which eliminate the fee differential 

between priority customers with 100 or 

more contracts and priority customers 

with less than 100 contracts.7 All other 

orders that are routed to ISE, which are 

not in the Select Symbols, would be 

assessed the rates labeled ‘‘ISE’’. 

NASDAQ Options Services LLC 

(‘‘NOS’’), a member of the Exchange, is 

the Exchange’s exclusive order router. 

Each time NOS routes to away markets 

NOS is charged a $0.06 clearing fee and, 

in the case of certain exchanges, a 

transaction fee is also charged in certain 

symbols, which are passed through to 

the Exchange. Each destination market’s 

transaction charge varies for each 

transaction incurred by the Exchange. 

The Exchange is proposing this 

amendment in order to recoup clearing 

and transaction charges incurred by the 

Exchange when orders are routed to ISE 

in the ISE Select Symbols. 

2. Statutory Basis 

NASDAQ believes that the proposed 

rule changes are consistent with the 

provisions of Section 6 of the Act,8 in 

general, and with Section 6(b)(4) of the 

Act,9 in particular, in that it provides for 

the equitable allocation of reasonable 

dues, fees and other charges among 

members and issuers and other persons 

using any facility or system which 

NASDAQ operates or controls. The 

Exchange believes that these fees are 

reasonable because the Exchange is 

seeking to recoup costs that it incurs 

when routing orders to ISE in Select 

Symbols on behalf of its members. The 

Exchange believes that the proposed fee 

amendments are equitable because these 

amendments mirror recent proposed 

amendments to ISE’s Schedule of Fees 

and are being uniformly applied to the 

Exchange’s members. 

NASDAQ is one of nine options 

markets in the national market system 

for standardized options. Joining 

NASDAQ and electing to trade options 

is entirely voluntary. Under these 

circumstances, NASDAQ’s fees must be 

competitive and low in order for 

NASDAQ to attract order flow, execute 

orders, and grow as a market. NASDAQ 

thus believes that its fees are fair and 

reasonable and consistent with the 

Exchange Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

No written comments were either 

solicited or received. 

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 10 and 

paragraph (f)(2) of Rule 19b–4 11

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: 

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–NASDAQ–2011–006 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–NASDAQ–2011–006. 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 such 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 No. SR–NASDAQ– 

2011–006 and should be submitted on 

or before February 9, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–950 Filed 1–18–11; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Highway Administration 

Notice to Rescind a Notice of Intent to 

Prepare a Supplemental Environmental 

Impact Statement: State Route 374 

From State Route 149 West of River 

Road to State Route 76 in Clarksville, 

Montgomery County, TN 

AGENCY: Federal Highway 

Administration (FHWA), DOT. 

ACTION: Notice to rescind a Notice of 

Intent to Prepare a Supplemental 

Environmental Impact Statement (EIS). 

SUMMARY: The FHWA is issuing this 

notice to advise the public that the 

Notice of Intent published on April 21, 

2010, at 75 FR 20879, to prepare a 

Supplemental EIS for the extension of 

SR 374 from SR 149 west of River Road 

to SR 76 in Clarksville, Montgomery 

County, Tennessee, is being rescinded. 

mstockstill on DSKH9S0YB1PROD with NOTICES