Federal Register / Vol. 75, No. 219 / Monday, November 15, 2010 / Notices 69729 

12The text of the proposed rule change is 

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

www.sec.gov. 

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. 

4See NYSE Arca Equities Rule 7.37 (Order 

Execution). The Tracking Order Process is available 

during Core Trading Hours only, during which 

orders may be matched and executed in the 

Tracking Order Process as follows: If an order has 

not been executed in its entirety pursuant to the 

Directed Order, Display Order or Working Order 

processes, the NYSE Arca Marketplace shall match 

and execute any remaining part of the order in the 

Tracking Order Process in price/time priority, 

except that (1) any portion of an order received 

from another market center or market participant 

shall be cancelled immediately, and (2) an 

incoming ISO order shall not interact with the 

Tracking Order Process. 

proposed rule change as operative upon 

filing. 

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–ISE–2010–107 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–2010–107. 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.12 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– 

2010–107 and should be submitted on 

or before December 6, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28686 Filed 11–12–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63272; File No. SR– 

NYSEArca–2010–96] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Arca Equities 

Rule 7.31(f) To Modify the Functionality 

of Tracking Orders 

November 8, 2010. 

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 October 

29, 2010, NYSE Arca, Inc. (the 

‘‘Exchange’’ or ‘‘NYSE Arca’’) 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. 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 

NYSE Arca Equities Rule 7.31(f) to 

modify the functionality of Tracking 

Orders. 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend 

NYSE Arca Equities Rule 7.31(f) to 

modify the functionality of Tracking 

Orders. 

A Tracking Order is an undisplayed, 

priced round lot order that is eligible for 

execution in the Tracking Order 

Process 4 against orders equal to or less 

than the aggregate size of Tracking 

Order interest available at that price. 

Presently, if a Tracking Order is 

executed but not exhausted, the 

remaining portion of the order is 

cancelled, without routing the order to 

another market center or market 

participant. An ETP Holder that wishes 

to maintain its Tracking Order on the 

Exchange after partial execution must 

re-enter another Tracking Order. 

The Exchange proposes to modify the 

functionality of Tracking Orders to 

eliminate the current cancellation 

feature. Specifically, the Exchange 

proposes that, upon partial execution of 

a Tracking Order, the Tracking Order 

would not be cancelled, but rather the 

remaining portion of the order would 

repost in the Tracking Order Process 

with a new time priority. The reposted 

Tracking Order would remain available 

for execution within the Tracking Order 

Process until either the total posted size 

is exhausted or the Tracking Order is 


srobinson on DSKHWCL6B1PROD with NOTICES
69730 Federal Register / Vol. 75, No. 219 / Monday, November 15, 2010 / Notices 

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

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires a self-regulatory organization to 

provide the Commission with written notice of its 

intent to file the proposed rule change, along with 

a brief description and text of the proposed rule 

change, at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. The 

Exchange has fulfilled this requirement. 

9The text of the proposed rule change is available 

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

www.sec.gov. 

10 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

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

cancelled by the submitting ETP Holder. 

Each execution and subsequent 

reposting prior to exhaustion or 

cancellation would result in a new time 

priority. 

The Exchange believes the 

elimination of the Tracking Order’s 

current cancellation feature would 

benefit Exchange ETP Holders and 

customers by maintaining available 

liquidity in the Tracking Order Process, 

thereby increasing the likelihood that 

Tracking Orders would interact with 

contra-side liquidity and receive an 

execution. The proposed amendment 

would also increase ETP Holder 

efficiency with respect to time and 

messaging resources by eliminating the 

need to re-enter the balance of partially 

executed Tracking Orders. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Securities Exchange Act of 1934 

(the ‘‘Act’’),5 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,6

in particular, in that it is 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. Specifically, the 

Exchange believes that the proposed 

change would maintain available 

liquidity in the Tracking Order Process 

while also increasing ETP Holder 

efficiency with respect to time and 

messaging resources by eliminating the 

need to re-enter the balance of partially 

executed Tracking Orders. 

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 

The Exchange has neither solicited 

nor received written comments on the 

proposed rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change: (1) Does not significantly affect 

the protection of investors or the public 

interest; (2) does not impose any 

significant burden on competition; and 

(3) by its terms does not become 

operative for 30 days after the date of 

this filing, or such shorter time as the 

Commission may designate if consistent 

with the protection of investors and the 

public interest, the proposed rule 

change has become effective pursuant to 

Section 19(b)(3)(A) of the Act 7 and Rule 

19b–4(f)(6) thereunder.8

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–2010–96 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities Exchange Commission, 100 F 

Street, NE., Washington, DC 20549– 

1090. 

All submissions should refer to File 

Number SR–NYSEArca–2010–96. 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,9 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– 

NYSEArca–2010–96 and should be 

submitted on or before December 6, 

2010. 

For the Commission, by the Division 

of Trading and Markets, pursuant to 

delegated authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28690 Filed 11–12–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63268; File No. SR–SCCP– 

2010–03] 

Self-Regulatory Organizations; Stock 

Clearing Corporation of Philadelphia; 

Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to the Suspension of 

Certain Provisions Due to Inactivity 

November 8, 2010. 

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 October 

27, 2010, Stock Clearing Corporation of 

Philadelphia (‘‘SCCP’’) 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 

primarily by SCCP. SCCP filed the 

proposed rule change pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 


srobinson on DSKHWCL6B1PROD with NOTICES