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###### Securities and Exchange Commission

          - [Release No. 34-64296; File No. SR-ISE2011-20] 

                    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 April 8, 2011, the International Securities Exchange, LLC (the “Exchange” or the “ISE”) filed with the Securities and Exchange 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 amend its transaction fees and rebates for adding and removing liquidity. The text of the proposed rule change is available on the Exchange's Web site (                    *http://www.ise.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 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 

                    The Exchange currently assesses a per contract transaction charge to market participants that add or remove liquidity from the Exchange (“maker/taker fees”) in 100 options classes (the “Select Symbols”).[3]                                          The purpose of this proposed rule change is to amend the list of Select Symbols on the Exchange's Schedule of Fees, titled “Rebates and Fees for Adding and Removing Liquidity in Select Symbols.” Specifically, the Exchange proposes to change the symbol from “QQQQ” to “QQQ” to reflect the recent change in that exchange-traded fund's ticker symbol. “QQQQ” would continue to be subject to the Fees and Rebates for Adding and Removing Liquidity on the Exchange's Schedule of Fees.                 

Additionally, the Exchange proposes to remove Motorala, Inc. (“MOT”) from the list of Select Symbols on the Exchange's Schedule of Fees due to a recent corporate action. As a result, MOT is no longer a valid symbol. 

#### 2. Statutory Basis 

                    The Exchange believes that its proposal to amend its Schedule of Fees is consistent with Section 6(b) of the Act [4]                                          in general, and furthers the objectives of Section 6(b)(4) of the Act [5]                                          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 updating its Schedule of Fees to amend the “QQQQ” symbol to “QQQ” will provide its members clarity as to which symbols are subject to the Exchange's maker/taker fees. The Exchange further believes that this proposed rule change is both equitable and reasonable because the amendments would uniformly apply to all categories of market participants. The Exchange further believes that the proposed removal of MOT from the list of Select Symbols is both equitable and reasonable because the amendment would uniformly apply to all categories of participants.                 

### 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.[6]                                          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.                 
      ( print page 21935)    

## 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 rule-comments@sec.gov.                      Please include File No. SR-ISE-2011-20 on the subject line.                 

### Paper Comments 

    - Send paper comments in triplicate to Elizabeth Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.

                    All submissions should refer to File Number SR-ISE-2011-20. 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 Commissions 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. Copies of such filing also will be available for inspection and copying at the principal office of the ISE. 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-2011-20 and should be submitted by May 10,                                         2011.                 

                        For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7

Cathy H. Ahn, 

Deputy Secretary.

# Footnotes

1.                             15 U.S.C. 78s(b)(1).                    
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2.                             17 CFR 240.19b-4.                    
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3.                             Options classes subject to maker/taker fees are identified by their ticker symbol on the Exchange's Schedule of Fees.                    
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4.                             15 U.S.C. 78f(b).                    
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5.                             15 U.S.C. 78f(b)(4).                    
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6.                             15 U.S.C. 78s(b)(3)(A)(ii).                    
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7.                             17 CFR 200.30-3(a)(12).                    
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[FR Doc. 2011-9438 Filed 4-18-11; 8:45 am] 

BILLING CODE 8011-01-P