22158 Federal Register / Vol. 76, No. 76 / Wednesday, April 20, 2011 / Notices 

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

2 17 CFR 240.19b–4. 

3A Complex Order is any order involving the 

simultaneous purchase and/or sale of two or more 

different options series in the same underlying 

security, priced at a net debit or credit based on the 

relative prices of the individual components, for the 

same account, for the purpose of executing a 

particular investment strategy. Furthermore, a 

Complex Order can also be a stock-option order, 

which is an order to buy or sell a stated number 

of units of an underlying stock or ETF coupled with 

the purchase or sale of options contract(s). See 

Exchange Rule 1080, Commentary .08(a)(i). 

4SPY options are based on the SPDR exchangetraded fund (‘‘ETF’’), which is designed to track the 

performance of the S&P 500 Index. 

3010.13(a)(5). Interested persons may 

express views and offer comments on 

whether the planned changes are 

consistent with the policies of 39 U.S.C. 

3622 and 39 CFR part 3010. Comments 

are due no later than May 2, 2011. 

The Commission appoints Natalie Rea 

to represent the interests of the general 

public in this proceeding. 

IV. Ordering Paragraphs 

It is ordered: 

1. The Commission establishes Docket 

No. R2011–5 to consider matters raised 

by the Postal Service’s April 12, 2011 

filing. 

2. Interested persons may submit 

comments on the planned price 

adjustments. Comments are due May 2, 

2011. 

3. Pursuant to 39 U.S.C. 505, Natalie 

Rea is appointed to serve as officer of 

the Commission (Public Representative) 

to represent the interests of the general 

public in this proceeding. 

4. The Commission directs the 

Secretary to arrange for prompt 

publication of this notice in the Federal 

Register. 

By the Commission. 

Ruth Ann Abrams, 

Acting Secretary. 

[FR Doc. 2011–9543 Filed 4–19–11; 8:45 am] 

BILLING CODE 7710–FW–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–64300; File No. SR–Phlx– 

2011–52] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NASDAQ 

OMX PHLX LLC Relating to Rebates 

and Fees for Customer Complex 

Orders 

April 14, 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 April 8, 

2011, NASDAQ OMX PHLX LLC (‘‘Phlx’’ 

or ‘‘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 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 amend its 

Complex Order 3 Fees in Section I of its 

Fee Schedule titled ‘‘Rebates and Fees 

for Adding and Removing Liquidity in 

Select Symbols.’’ 

While changes to the Fee Schedule 

pursuant to this proposal are effective 

upon filing, the Exchange has 

designated these changes to be operative 

on April 11, 2011. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://nasdaqtrader.com/

micro.aspx?id=PHLXfilings, at the 

principal office of the Exchange, at the 

Commission’s Public Reference Room, 

and on the Commission’s Web site at 

http://www.sec.gov. 

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 

The purpose of the proposed rule 

change is to amend Section I, Part B of 

the Exchange’s Fee Schedule, titled 

‘‘Complex Order’’ to: (i) Pay a Customer 

Complex Order Rebate for Adding 

Liquidity of $0.25 per contract for 

options overlying the iShares Russell 

2000 Index (‘‘IWM’’); and (ii) waive the 

Customer Complex Order Fee for 

Removing Liquidity for options 

overlying Standard and Poor’s 

Depositary Receipts/SPDRs (‘‘SPY’’) 4; 

the PowerShares QQQ Trust (‘‘QQQ’’)®; 

and Apple, Inc. (‘‘AAPL’’) [sic]. The 

Exchange is proposing these 

amendments to the Fee Schedule in 

order to continue to attract additional 

Customer order flow. 

Complex Order Rebate for Adding 

Liquidity 

Currently, the Exchange pays the 

following Complex Order Rebates for 

Adding Liquidity in the Select Symbols: 

Customer Directed 

participant 

Specialist, 

ROT, SQT 

and RSQT 

Firm Broker-dealer Professional 

Rebate for Adding Liquidity in all Select 

Symbols except SPY, QQQ and AAPL $0.24 $0.00 $0.00 $0.00 $0.00 $0.00 

Rebate for Adding Liquidity for SPY, 

QQQ and AAPL .................................... 0.25 0.00 0.00 0.00 0.00 0.00 


srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 76, No. 76 / Wednesday, April 20, 2011 / Notices 22159 

5The Exchange currently also pays a $0.24 per 

contract Customer Complex Order Rebate for 

Adding Liquidity in all Select Symbols except SPY, 

QQQ and AAPL. 

6The only market participant that receives a 

Rebate for Adding Liquidity for Complex Orders 

today is a Customer. 

7The other non-Customer market participants 

would continue to be assessed a Complex Order Fee 

for Removing Liquidity as noted above. 

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

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

10See CBOE’s Fees Schedule. 

11 15 U.S.C. 78s(b)(3)(A)(ii). 

With respect to Complex Orders, the 

Exchange pays Customers a rate of $0.25 

per contract in specific Select Symbols, 

namely SPY, QQQ and AAPL. The 

Exchange currently pays a Complex 

Order Customer Rebate of $0.24 per 

contract for transactions that add 

liquidity in IWM (‘‘IWM Rebate’’).5 The 

Exchange is proposing to change the 

IWM Customer Complex Order Rebate 

for Adding Liquidity from $0.24 to 

$0.25 per contract. The Exchange would 

continue to pay all other Select 

Symbols, except SPY, QQQ and AAPL, 

a Customer Complex Order Rebate for 

Adding Liquidity of $0.24 per contract. 

Other, non-Customer market 

participants would not be paid a 

Complex Order Rebate for Adding 

Liquidity.6 The Exchange believes that 

this increased rebate for Customers 

transacting Complex Orders in options 

overlying IWM will attract additional 

Customer order flow to the Exchange in 

IWM. 

Complex Order Fee for Removing 

Liquidity 

Currently, the Exchange assesses the 

following Complex Orders Fees for 

Removing Liquidity in the Select 

Symbols: 

% Customer Directed 

participant 

Specialist, 

ROT, SQT 

and RSQT 

Firm Broker-dealer Professional 

Fee for Removing Liquidity ...................... $0.25 $0.25 $0.27 $0.28 $0.35 $0.28 

With respect to Complex Orders, the 

Exchange currently assesses Customers 

a Fee for Removing Liquidity of $0.25 

per contract in all Select Symbols. The 

Exchange is proposing to waive the 

Customer Complex Order Fee for 

Removing Liquidity for options 

overlying SPY, QQQ, IWM and AAPL. 

All other Select Symbols would 

continue to be subject to a Customer 

Complex Order Fee for Removing 

Liquidity of $0.25 per contract. The 

Exchange is not proposing to waive the 

Complex Order Fee for Removing 

Liquidity for any other market 

participant.7 The Exchange believes that 

this waiver of the Customer Complex 

Order Fee for Removing Liquidity for 

options overlying SPY, QQQ, IWM and 

AAPL will attract additional Customer 

order flow to the Exchange in those 

Select Symbols. 

The Exchange does not propose to 

amend the fees in Section I, Part A titled 

‘‘Single contra-side order.’’ While 

changes to the Fee Schedule pursuant to 

this proposal are effective upon filing, 

the Exchange has designated these 

changes to be operative on April 11, 

2011. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its Fee Schedule is 

consistent with Section 6(b) of the Act 8

in general, and furthers the objectives of 

Section 6(b)(4) of the Act 9 in particular, 

in that it is an equitable allocation of 

reasonable fees and other charges among 

Exchange members. The Exchange also 

believes that there is an equitable 

allocation of reasonable rebates among 

Exchange members. 

The Exchange believes that it is 

reasonable to pay an increased Complex 

Order Rebate for Adding Liquidity to 

Customers in options overlying IWM 

and waive the Complex Order Fee for 

Removing Liquidity for Customers in 

options overlying SPY, QQQ, IWM and 

AAPL, because both the proposed 

Customer rebate and waiver of the fee 

should attract additional Customer 

order flow to the Exchange for the 

benefit of all market participants. The 

Exchange believes that the proposal is 

equitable because by paying an 

increased Complex Order Rebate for 

Adding Liquidity to Customers 

transacting options overlying IWM and 

waiving the Customer Fee for Removing 

Liquidity in options overlying SPY, 

QQQ, IWM and AAPL, all market 

participants should benefit from the 

increased liquidity which increased 

Customer order flow should bring to the 

Exchange. In addition, the 

aforementioned proposals are equitable 

because the Exchange would uniformly 

pay and waive the rebate and fee, 

respectively, for all Customer Complex 

Orders in the applicable symbols. 

Also, the Exchange believes that it is 

reasonable to assess a different Fee for 

Removing Liquidity in certain symbols. 

For example, Chicago Board Options 

Exchange, Incorporated (‘‘CBOE’’) 

assesses Customers different fees for 

transacting QQQ [sic] and SPY as 

compared to other equity options.10

The Exchange operates in a highly 

competitive market comprised of nine 

U.S. options exchanges in which 

sophisticated and knowledgeable 

market participants can readily send 

order flow to competing exchanges if 

they deem fee levels at a particular 

exchange to be excessive. The Exchange 

believes that the Complex Order fees 

and rebates it assesses must be 

competitive with fees and rebates 

assessed in place on other options 

exchanges. The Exchange believes that 

this competitive marketplace impacts 

the fees and rebates present on the 

Exchange today and influences the 

proposals set forth above. 

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.11 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 


srobinson on DSKHWCL6B1PROD with NOTICES
22160 Federal Register / Vol. 76, No. 76 / Wednesday, April 20, 2011 / Notices 

12 17 CFR 200.30–3(a)(12). 

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: 

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–Phlx-2011–52 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-2011–52. 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 website 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–Phlx2011–52 and should be submitted on or 

before May 11, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Cathy H. Ahn, 

Deputy Secretary. 

[FR Doc. 2011–9478 Filed 4–19–11; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice 7397] 

Advisory Committee on the Secretary 

of State’s Strategic Dialogue With Civil 

Society; Notice of the Establishment of 

an Advisory Committee 

This is notice of the establishment of 

the Advisory Committee on the 

Secretary of State’s Strategic Dialogue 

with Civil Society (hereinafter ‘‘the 

Committee’’). The Committee will 

provide advice and assistance in the 

formulation of U.S. policies, proposals, 

and strategies for engagement with, and 

protection of, civil society worldwide. 

Functions of the Committee include, but 

are not limited to: (a) Providing 

information and advice on the effective 

integration of civil society into overall 

foreign policy; and (b) providing 

information and advice on the 

Department of State’s role in advancing, 

promoting, and protecting freedom of 

association and expression. The 

objective of the Committee is to bring to 

the United States government a source 

of expertise, knowledge, and insight not 

available within the Department or 

elsewhere in the government on these 

issues. The Committee serves in a solely 

advisory capacity. 

The membership of the Committee 

will consist of representatives who are 

leaders of U.S. and foreign civil society 

and U.S. and foreign businesses engaged 

with civil society. They may include: 

Leaders of independent public policy 

advocacy organizations, non-profit 

organizations that defend human rights 

and promote democracy, humanitarian 

organizations, private foundations and 

funds, charitable trusts, societies, 

associations and non-profit 

corporations. It is anticipated that the 

Committee will meet at least annually. 

The Department affirms that this 

advisory committee is necessary and in 

the public interest. 

For further information, please call 

Tomicah S. Tillemann, Senior Adviser 

for Civil Society and Emerging 

Democracies, U.S. Department of State, 

at civilsociety@state.gov. 

Dated: April 13, 2011. 

Tomicah S. Tillemann 

Senior Adviser for Civil Society and Emerging 

Democracies, U.S. Department of State. 

[FR Doc. 2011–9575 Filed 4–19–11; 8:45 am] 

BILLING CODE 4710–10–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

Fifty-Fourth Meeting: RTCA Special 

Committee 186: Automatic Dependent 

Surveillance—Broadcast (ADS–B) 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of RTCA Special 

Committee 186: Automatic Dependent 

Surveillance—Broadcast (ADS–B) 

meeting. 

SUMMARY: The FAA is issuing this notice 

to advise the public of a meeting of 

RTCA Special Committee 186: 

Automatic Dependent Surveillance— 

Broadcast (ADS–B). 

DATES: The meeting will be held May 

3–5, 2011 from 9 a.m. to 5 p.m. 

ADDRESSES: The meeting will be held at 

the RTCA Conference Rooms, 1828 L 

Street, NW., Suite 805, Washington, DC 

20036. 

FOR FURTHER INFORMATION CONTACT: 

RTCA Secretariat, 1828 L Street, NW., 

Suite 805, Washington, DC, 20036, (202) 

833–9339; fax (202) 833–9434; Web site 

http://www.rtca.org. 

SUPPLEMENTARY INFORMATION: Pursuant 

to section 10(a)(2) of the Federal 

Advisory Committee Act (Pub. L. 92– 

463, 5 U.S.C., Appendix 2), notice is 

hereby given for a Special Committee 

186, Automatic Dependent 

Surveillance—Broadcast (ADS–B) 

meeting. The agenda will include: 

Specific Working Group Sessions 

Tuesday, May 3 

• All Day, WG–6 Application Technical 

Requirements, MacIntosh-NBAA 

Room & Hilton-ATA Room 

Wednesday, May 4 

• All Day, WG–6 Application Technical 

Requirements, MacIntosh-NBAA 

Room & Hilton-ATA Room 

Thursday, May 5 

• Plenary Session 

Agenda—Plenary Session—Agenda 

May 5, 2011 

RTCA—Washington, DC—MacIntoshNBAA Room & Hilton-ATA Room 

9 a.m. 

• Chairman’s Introductory Remarks 


srobinson on DSKHWCL6B1PROD with NOTICES