69486 Federal Register / Vol. 75, No. 218 / Friday, November 12, 2010 / Notices 

15 15 U.S.C. 78f(b)(5). 

16 15 U.S.C. 78s(b)(2). 

17 15 U.S.C. 78s(b)(2). 18 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

away from the prevailing market price 

that they are not intended to be 

executed, the proposed rules should 

reduce the risk that trades will occur at 

irrational prices. As noted above, a large 

number of trades were executed at 

irrational prices on May 6, 2010 and 

were ultimately broken. In this respect, 

the proposals also should promote the 

goals of investor protection and fair and 

orderly markets. Finally, because the 

SROs are proposing uniform rules with 

respect to these market maker quoting 

obligations, the proposed rule changes 

as a whole will assure these baseline 

standards are applied throughout the 

equity markets. 

The Commission also finds that the 

functionality proposed by BATS, BX 

and Nasdaq is consistent with Section 

6(b)(5) of the Act,15 which, among other 

things, requires that the rules of national 

securities exchanges be designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and in 

general, to protect investors and the 

public interest. The proposed 

functionality should assist market 

makers on BATS, BX and Nasdaq in 

maintaining continuous, two-sided limit 

orders within the prescribed limits in 

the securities in which they are 

registered to satisfy their new quoting 

obligations. 

The Commission also finds good 

cause, pursuant to Section 19(b)(2) of 

the Act,16 for approving the proposed 

Amendments No. 1 on an accelerated 

basis. These amendments reflect the 

concern that the proposed market maker 

quoting obligations should not apply 

during times when market makers 

should be permitted to absorb material 

information affecting a security for 

which they are registered as a market 

maker, whether before or during the 

trading day, i.e., until there has been a 

regular-way transaction on a security’s 

primary listing market or during a 

trading halt. Approving these 

amendments on an accelerated basis 

would allow these provisions to be 

effective as of the implementation date 

of the new market maker requirements. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,17 that the 

proposed rule changes (SR–BATS– 

2010–025; SR–BX–2010–66; SR–CBOE– 

2010–087; SR–CHX–2010–22; SR– 

FINRA–2010–049; NASDAQ–2010–115; 

SR–NSX–2010–12; SR–NYSE–2010–69; 

SR–NYSEAmex–2010–96; SR– 

NYSEArca–2010–83), as modified by 

Amendment No. 1, be, and hereby are, 

approved on an accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.18

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28443 Filed 11–10–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63208A; File No. SR–DTC– 

2010–13] 

Self-Regulatory Organizations; The 

Depository Trust Company; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Implement a 

Disincentive Fee Associated With the 

Deposit Automation Management 

System 

November 5, 2010. 

Correction 

In FR Document No. 2010–27856 

beginning on page 68013 for Thursday, 

November 4, 2010, the paragraph under 

which The Depository Trust Company 

(‘‘DTC’’) filed the proposed rule change 

was incorrectly identified as section 

19(b)(3)(A)(iii) of the Securities 

Exchange Act of 1934 (‘‘Exchange Act’’) 

and Rule 19b–4(f)(3) thereunder. The 

correct paragraph under which DTC 

filed the proposed rule change is section 

19(b)(3)(A)(ii) of the Exchange Act and 

Rule 19b–4(f)(2). 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28451 Filed 11–10–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63252; File No. SR–Phlx– 

2010–150] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Amendments to the Fee Schedule 

November 5, 2010. 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 1, and Rule 19b–4 2 thereunder, 

notice is hereby given that on October 

29, 2010, NASDAQ OMX PHLX LLC 

(‘‘Phlx’’ or the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

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 to amend its Fee 

Schedule to: (i) Delete a symbol from 

the list of ‘‘Select Symbols’’ included in 

the ‘‘Rebates and Fees for Adding and 

Removing Liquidity in Select Symbols’’ 

section of the Fee Schedule; (ii) change 

the symbol of a Select Symbol to reflect 

a recent corporate action; (iii) add the 

KBW Bank Index (‘‘BKX’’) to the list of 

symbols in the Equity Options Fees and 

assess an Options Surcharge on BKX; 

(iv) delete the Cancellation Fee for 

electronically delivered customer orders 

from Section I of the Fee Schedule; and 

(v) amend the fees for electronic 

auctions and opening process. 

While changes to the Exchange’s Fee 

Schedule pursuant to this proposal are 

effective upon filing, the Exchange has 

designated this proposal to be effective 

for trades settling on or after November 

1, 2010. 

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, 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. 

mstockstill on DSKH9S0YB1PROD with NOTICES