Federal Register / Vol. 75, No. 236 / Thursday, December 9, 2010 / Notices 76763 

5 15 U.S.C. 78f. 

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). 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

has on deposit cash or securities of 

another member to furnish, upon the 

written request of the other member, a 

statement of its financial condition as 

disclosed in its most recently prepared 

balance sheet. In SR–FINRA–2009–081, 

FINRA amended NASD Rule 2910 and 

consolidated it within FINRA Rule 2261 

to require that members provide to other 

members the balance sheet that was 

prepared in accordance with the 

member’s usual practice or as required 

by state or federal securities laws or any 

corresponding rule or regulation. Also, 

FINRA amended the provision to 

require that members be permitted to 

provide their balance sheet to other 

members in paper or electronic form; 

however, this does not require obtaining 

consent of the other members for 

delivery. 

NASDAQ believes that NASDAQ Rule 

2270 and 2910 should be consolidated 

and amended to reflect the provisions in 

the new FINRA 2261. For clarification, 

this results in deleting NASDAQ Rules 

2270 and 2910. This will allow 

customers and other members to 

continue to have access to a copy of the 

member’s most recent balance sheet at 

any time upon request while 

simplifying the provisions. NASDAQ is 

adopting the new FINRA rule in full by 

incorporating by reference FINRA Rule 

2261 into the proposed NASDAQ Rule 

2261. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,5

in general, and with Sections 6(b)(5) of 

the Act,6 in particular, in that the 

proposal is designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in regulating, clearing, settling, 

processing information with respect to, 

and facilitating transactions in 

securities, 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 changes will conform 

NASDAQ Rules 2270 and 2910 to recent 

changes made to corresponding FINRA 

Rule 2261 to promote application of 

consistent regulatory standards. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will result in 

any burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it 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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine 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–NASDAQ–2010–156 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–2010–156. 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. 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– 

NASDAQ–2010–156 and should be 

submitted on or before December 30, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–30942 Filed 12–8–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63428; File No. SR–EDGX– 

2010–18] 

Self-Regulatory Organizations; EDGX 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend EDGX Rule 

11.9 To Offer Anti-Internalization 

Qualifier (‘‘AIQ’’) Functionality to 

Exchange Users 

December 3, 2010. 

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 November 

30, 2010, EDGX Exchange, Inc. (the 

‘‘Exchange’’ or the ‘‘EDGX’’) filed with 

the Securities and Exchange 


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76764 Federal Register / Vol. 75, No. 236 / Thursday, December 9, 2010 / Notices 

3 17 CFR 240.19b–4(f)(6). 

4http://www.sec.gov. 

5The Anti-Internalization Group identifier is a 

unique two character ID that an Exchange Member 

selects. 

6Any Exchange Member that has an MPID issued 

by FINRA is identified in the Exchange’s internal 

systems by that MPID. 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the Exchange. The 

Exchange has designated the proposed 

rule change as constituting a ‘‘noncontroversial’’ rule change under 

paragraph (f)(6) of Rule 19b–4 under the 

Act.3 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 offer AntiInternalization Qualifier (‘‘AIQ’’) 

functionality to Exchange Users 

pursuant to proposed Rule 11.9(f). The 

text of the proposed rule change is 

available on the Exchange’s Web site at 

http://www.directedge.com, at the 

Exchange’s principal office, at the 

Public Reference Room of the 

Commission, and the Commission’s 

Web site.4

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 

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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to offer AntiInternalization Qualifier (‘‘AIQ’’) 

functionality to Exchange Users 

pursuant to proposed Rule 11.9(f). 

Background 

The proposed AIQ modifiers are 

designed to prevent two orders with the 

same Unique Identifier (as defined 

below) from executing against each 

other. The Exchange proposes to offer 

five AIQ modifiers that will be 

implemented and can be set at the 

market participant identifier (‘‘MPID’’), 

the Exchange Member identifier or the 

Anti-Internalization Group identifier 

level 5 (any such identifier, a ‘‘Unique 

Identifier’’).6 With one exception, 

described below, the AIQ modifier on 

the incoming order controls the 

interaction between two orders marked 

with AIQ modifiers from the same 

Unique Identifier. The five AIQ 

modifiers are discussed more 

thoroughly below. 

AIQ Cancel Newest (‘‘CN’’) 

An incoming order marked with the 

CN modifier will not execute against 

opposite side resting interest marked 

with any AIQ modifier originating from 

the same Unique Identifier. The 

incoming order marked with the CN 

modifier will be cancelled back to the 

originating User. The resting order 

marked with an AIQ modifier, which 

otherwise would have interacted with 

the incoming order from the same 

Unique Identifier, will remain on the 

EDGX book (‘‘Book’’). 

AIQ Cancel Oldest (‘‘CO’’) 

An incoming order marked with the 

CO modifier will not execute against 

opposite side resting interest marked 

with any AIQ modifier originating from 

the same Unique Identifier. The resting 

order marked with the AIQ modifier, 

which otherwise would have interacted 

with the incoming order by the same 

Unique Identifier, will be cancelled 

back to the originating User. The 

incoming order marked with the CO 

modifier will remain on the Book. 

AIQ Decrement and Cancel (‘‘DC’’) 

An incoming order marked with the 

DC modifier will not execute against 

opposite side resting interest marked 

with any AIQ modifier originating from 

the same Unique Identifier. If both 

orders are equivalent in size, both 

orders will be cancelled back to the 

originating User. If the orders are not 

equivalent in size, the smaller order will 

be cancelled back to the originating User 

and the larger order will be 

decremented by the size of the smaller 

order, with the balance remaining on 

the Book. 

AIQ Cancel Both (‘‘CB’’) 

An incoming order marked with the 

CB modifier will not execute against 

opposite side resting interest marked 

with any AIQ modifier originating from 

the same Unique Identifier. The entire 

size of both orders will be cancelled 

back to the originating User. 

AIQ Cancel Smallest (‘‘CS’’) 

An incoming order marked with the 

CS modifier will not execute against 

opposite side resting interest marked 

with any AIQ modifier originating from 

the same Unique Identifier. If both 

orders are equivalent in size, both 

orders will be cancelled back to the 

originating User. If the orders are not 

equivalent in size, the smaller of the two 

orders will be cancelled back to the 

originating User and the larger order 

will remain on the Book. 

Additional Discussion 

AIQ modifiers are intended to prevent 

interaction between the same Unique 

Identifier. AIQ modifiers must be 

present on both the buy and the sell 

order in order to prevent a trade from 

occurring and to effect a cancel 

instruction. AIQ modifiers are available 

for orders entered in either an agency or 

principal capacity. An incoming AIQ 

order cannot cancel through resting 

orders that have price and/or time 

priority. When an order with an AIQ 

modifier is entered it will first interact 

with all available interest in accordance 

with the execution process described in 

Exchange Rules 11.8 and 11.9. If there 

is a remaining balance on the order after 

trading with all orders with higher 

priority, it may then interact with an 

opposite side AIQ order in accordance 

with the rules established above. 

Incoming AIQ orders that are priced 

through the price of a resting AIQ order 

may cancel the resting order as long as 

no other non-AIQ orders have priority. 

The Exchange believes that adding 

this functionality will allow Exchange 

Users to better manage order flow and 

prevent undesirable executions with 

themselves or the potential for (or the 

appearance of) ‘‘wash sales’’ that may 

occur as a result of the velocity of 

trading in today’s high speed 

marketplace. Many Exchange Users 

have multiple connections into the 

Exchange due to capacity and speed 

related demands. Orders routed by the 

same User via different connections 

may, in certain circumstances, trade 

against each other. The new AIQ 

modifiers provide Users the opportunity 

to prevent these potentially undesirable 

trades occurring under the same Unique 

Identifier on both the buy and sell side 

of the execution. The Exchange also 

believes that this functionality will 

allow firms to better internalize agency 

order flow which in turn may decrease 

the costs to its customers. The Exchange 

notes that the AIQ modifiers do not 

alleviate, or otherwise exempt, brokerdealers from their best execution 

obligations. As such, broker-dealers 


erowe on DSK5CLS3C1PROD with NOTICES
Federal Register / Vol. 75, No. 236 / Thursday, December 9, 2010 / Notices 76765 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to submit to the Commission 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 satisfied this requirement. 

11See Securities Exchange Act Release No. 60182 

(June 26, 2009), 74 FR 32014 (July 6, 2009) (SR– 

NASDAQ–2009–057); Securities Exchange Act 

Release No. 60191 (June 30, 2009) (SR–NYSEArca– 

2009–058); Securities Exchange Act Release No. 

60266 (July 9, 2009), 74 FR 34380 (July 15, 2009) 

(SR–BATS–2009–022); Securities Exchange Act 

Release No. 62102 (May 13, 2010), 75 FR 28670 

(May 21, 2010) (SR–BATS–2010–011). 

12For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

using the AIQ modifiers will be 

obligated to internally cross agency 

orders at the same price, or a better 

price than they would have received 

had the orders been executed on the 

Exchange. Additionally, the AIQ 

modifiers will assist market participants 

in complying with certain rules and 

regulations of the Employee Retirement 

Income Security Act (‘‘ERISA’’) that 

preclude and/or limit managing brokerdealers of such accounts from trading as 

principal with orders generated for 

those accounts. Finally, the Exchange 

notes that offering the AIQ modifiers 

will streamline certain regulatory 

functions by reducing false positive 

results that may occur on Exchange 

generated wash trading surveillance 

reports when orders are executed under 

the same Unique Identifier. For these 

reasons, the Exchange believes the AIQ 

modifiers offer users enhanced order 

processing functionality that may 

prevent potentially undesirable 

executions without negatively 

impacting broker-dealer best execution 

obligations. 

2. Statutory Basis 

The rule change proposed in this 

submission is consistent with the 

requirements of the Securities Exchange 

Act of 1934 (the ‘‘Act’’), and the rules 

and regulations thereunder that are 

applicable to a national securities 

exchange, and, in particular, with the 

requirements of Section 6(b) 7 of the Act. 

Specifically, the proposed change is 

consistent with Section 6(b)(5) 8 of the 

Act, because it is designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to foster cooperation 

and coordination with persons engaged 

in facilitating transactions in securities, 

and to remove impediments to, and 

perfect the mechanism of, a free and 

open market and a national market 

system. Specifically, the AIQ 

functionality allows firms to better 

manage order flow and prevent 

undesirable executions against 

themselves, and the proposed change 

described herein enhances the choices 

available to such firms in how they do 

so. 

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 

Because the foregoing proposed rule 

change does not significantly affect the 

protection of investors or the public 

interest, does not impose any significant 

burden on competition, and, by its 

terms, does not become operative for 30 

days from the date on which it was 

filed, or such shorter time as the 

Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 9 and Rule 19b– 

4(f)(6) thereunder.10

The Exchange has requested that the 

Commission waive the 30-day preoperative delay so that the Exchange 

may immediately offer Exchange users 

the ability to better manage order flow 

and prevent undesirable executions 

with themselves or the potential for or 

the appearance of wash sales that may 

occur as a result of the velocity of 

trading in today’s high speed 

marketplace. The Commission notes 

that the proposal is based on similar 

rules of other exchanges 11 and believes 

that waiver of the operative delay is 

consistent with the protection of 

investors and the public interest. 

Therefore, the Commission designates 

the proposal operative upon filing.12

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–EDGX–2010–18 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–EDGX–2010–18. 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. 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–EDGX– 

2010–18 and should be submitted on or 

before December 30, 2010. 


erowe on DSK5CLS3C1PROD with NOTICES
76766 Federal Register / Vol. 75, No. 236 / Thursday, December 9, 2010 / Notices 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 63285 

(November 9, 2010), 75 FR 70310 (November 17, 

2010) (SR–BX–2010–074). 

4 15 U.S.C. 78f. 

5 15 U.S.C. 78f(b)(4). 

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(2). 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–30944 Filed 12–8–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63432; File No. SR–BX– 

2010–082] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Modify Fees 

for the NASDAQ OMX BX Equities 

System 

December 3, 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 November 

24, 2010, NASDAQ OMX BX, Inc. 

(‘‘BX’’) 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 BX. 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 

BX proposes to modify pricing for BX 

members using the NASDAQ OMX BX 

Equities System by clarifying that 

partial trading days will not be counted 

in the calculation of average daily 

trading volume for purposes of 

determining a member’s eligibility for 

recently adopted pricing tiers in BX’s 

fee schedule. BX will implement the 

proposed change immediatley [sic]. The 

text of the proposed rule change is 

available at http:// 

nasdaqomxbx.cchwallstreet.com, at 

BX’s principal office, 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, BX 

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. BX 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

BX recently modified its fees for 

trades that execute at prices at or above 

$1.3 Effective November 1, 2010, BX 

introduced a tiered pricing structure for 

the fee that it charges to orders that add 

liquidity, under which members adding 

a daily average of more than 50 million 

shares of liquidity during a month are 

charged $0.00025 per share executed, 

while members adding a daily average 

of 50 million or fewer shares during the 

month are charged $0.0004 per share 

executed. 

Through this proposed rule change, 

BX is adding language to BX Rule 7018 

to clarify that any day that the market 

is not open for the entire trading day 

will be excluded from the calculation of 

a member’s average daily volume. The 

change recognizes that many members 

may have extremely light trading 

volumes on days such as the day after 

Thanksgiving, when the markets are not 

open for an entire trading day. 

Accordingly, excluding this day from 

average daily volume calculations 

provides a more accurate assessment of 

the member’s volume during the month. 

There have been no partial trading days 

during the month of November prior to 

the date of submission of this filing, so 

the filing is not retroactive in effect. 

2. Statutory Basis 

BX believes that the proposed rule 

change is consistent with the provisions 

of Section 6 of the Act,4 in general, and 

with Section 6(b)(4) of the Act,5 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 BX operates or 

controls. The change will clarify the 

application of a recent pricing change 

by excluding partial trading days from 

average daily volume calculations, 

making it easier for members to achieve 

more favorable pricing tiers by 

excluding trading days when their 

volume is likely to be lower. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

BX does not believe that the proposed 

rule change will result in any burden on 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act, as amended. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) 6 of the Act and 

subparagraph (f)(2) of Rule 19b–4 7

thereunder, because it establishes a due, 

fee, or other charge imposed by BX on 

its members. 

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–BX–2010–082 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–BX–2010–082. 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 


erowe on DSK5CLS3C1PROD with NOTICES