596 Federal Register / Vol. 76, No. 3 / Wednesday, January 5, 2011 / Notices 

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

2 15 U.S.C. 78s(b)(3)(A)(ii). 

3 17 CFR 240.19b–4(f)(2). 

hours (3 responses × 2 hours = 6 hours). 

The total cost of compliance for the 

annual burden is $1,510.50 ($316 × 1.5 

hours per response + $59 × 0.5 hours per 

response = $503.50 per response; 

$503.50 × 3 responses = $1,510.50). In 

addition, estimated overhead costs for 

printing, copying, and postage equal to 

35% of the value of labor costs amount 

to $176.23 per respondent ($503.5 times 

35%). Thus, the Commission estimates 

the total annualized cost burden would 

be $528.69 ($176.23 × 3 respondents). 

An estimated two respondents will 

meet certain volume thresholds 

requiring them to establish standards for 

granting access on its trading system. 

The Commission estimates that the 

average compliance burden for each 

response would be 5 hours of in-house 

professional work at $316 per hour. 

Thus, the total compliance burden per 

year is 10 hours (2 responses × 5 hours 

= 10 hours). The total cost of 

compliance for the annual burden is 

$3,160 ($316 × 5 hours per response × 

2 responses = $3,160). In addition, 

estimated overhead costs for printing, 

copying, and postage equal to 35% of 

the value of labor costs amount to $553 

per response ($1,580 times 35%). Thus, 

the Commission estimates the total 

annualized cost burden would be $1,106 

($553 × 2 respondents). 

An estimated two respondents will 

meet certain volume thresholds 

requiring them to provide notice to any 

user upon any decision to deny or limit 

that user’s access to the system, and 

these notice obligations will be triggered 

an estimated 27 times per year for each 

respondent. The Commission estimates 

that the average compliance burden for 

each response would be 1 hour of inhouse professional work at $316 per 

hour. Thus, the total compliance burden 

per year is 54 hours (2 respondents × 27 

responses each × 1 hour = 54 hours). 

The total cost of compliance for the 

annual burden is $17,064 ($316 × 1 hour 

per response × 54 responses = $17,064). 

In addition, estimated overhead costs 

for printing, copying, and postage equal 

to 35% of the value of labor costs 

amount to $110.60 per response ($316 

times 35%). Thus, the Commission 

estimates the annualized cost burden for 

each respondent would be $2,986.20 

($110.60 × 27 responses per respondent) 

and the total annualized cost burden for 

all respondents would be $5,972.40 

($110.60 × 2 respondents × 27 responses 

per respondent). 

An estimated two respondents will 

meet certain volume thresholds 

requiring them to keep records relating 

to any steps taken to comply with 

systems capacity, integrity, and security 

requirements under Rule 301. The 

Commission estimates that the average 

compliance burden for each response 

would be 10 hours of in-house 

professional work at $316 per hour. 

Thus, the total compliance burden per 

year is 20 hours (2 respondents × 10 

hours = 20 hours). The total cost of 

compliance for the annual burden is 

$6,320 ($316 × 20 hours = $6,320). In 

addition, estimated overhead costs for 

printing, copying, and postage equal to 

35% of the value of labor costs amount 

to $1,106 per response ($3,160 times 

35%). Thus, the Commission estimates 

the total annualized cost burden would 

be $2,212 ($1,106 × 2 respondents). 

An estimated two respondents will 

meet certain volume thresholds 

requiring them to provide a notice to the 

Commission to report any systems 

outages, and these notice obligations 

will be triggered an estimated 5 times 

per year for each respondent. The 

Commission estimates that the average 

compliance burden for each response 

would be .25 hours of in-house 

professional work at $316 per hour. 

Thus, the total compliance burden per 

year is 2.5 hours (2 respondents × 5 

responses each × .25 hours = 2.5 hours). 

The total cost of compliance for the 

annual burden is $790 ($316 × .25 hours 

per response × 10 responses = $790). In 

addition, estimated overhead costs for 

printing, copying, and postage equal to 

35% of the value of labor costs amount 

to $27.65 per response ($79 times 35%). 

Thus, the Commission estimates the 

annualized cost burden for each 

respondent would be $138.25 ($27.65 × 

5 responses per respondent) and the 

total annualized cost burden for all 

respondents would be $276.50 ($27.65 × 

2 respondents × 5 responses per 

respondent). 

Compliance with Rule 301 is 

mandatory. The information required by 

the Rule 301 is available only to the 

examination of the Commission staff, 

state securities authorities and the 

SROs. Subject to the provisions of the 

Freedom of Information Act, 5 U.S.C. 

522 (‘‘FOIA’’), and the Commission’s 

rules thereunder (17 CFR 

200.80(b)(4)(iii)), the Commission does 

not generally publish or make available 

information contained in any reports, 

summaries, analyses, letters, or 

memoranda arising out of, in 

anticipation of, or in connection with an 

examination or inspection of the books 

and records of any person or any other 

investigation. 

Regulation ATS requires alternative 

trading systems to preserve any records, 

for at least three years, made in the 

process of complying with the systems 

capacity, integrity and security 

requirements. An agency may not 

conduct or sponsor, and a person is not 

required to respond to, a collection of 

information unless it displays a 

currently valid control number. 

The public may view the background 

documentation for this information 

collection at the following Web site, 

http://www.reginfo.gov. Comments 

should be directed to: (i) Desk Officer 

for the Securities and Exchange 

Commission, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, Room 10102, 

New Executive Office Building, 

Washington, DC 20503, or by sending an 

e-mail to: 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Thomas Bayer, Chief Information 

Officer, Securities and Exchange 

Commission, c/o Remi Pavlik-Simon, 

6432 General Green Way, Alexandria, 

VA 22312 or send an e-mail to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: December 30, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–33271 Filed 1–4–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63612; File No. SR–FICC– 

2010–10] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Modifications to the Fee Schedule 

December 29, 2010. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 notice is hereby given that on 

December 21, 2010, the Fixed Income 

Clearing Corporation (‘‘FICC’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II, which Items have been 

prepared primarily by FICC. FICC filed 

the proposed rule change pursuant to 

Section 19(b)(3)(A)(ii) of the Act 2 and 

Rule 19b–4(f)(2) 3 thereunder so that the 

proposal was effective upon filing with 

the Commission. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 


jlentini on DSKJ8SOYB1PROD with NOTICES
Federal Register / Vol. 76, No. 3 / Wednesday, January 5, 2011 / Notices 597 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The purpose of this filing is to modify 

participant fees. The fee changes are 

effective as of January 1, 2011. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

FICC 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. FICC 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. Government Securities Division 

(‘‘GSD’’) 

(a) The fee structure for submission of 

a side of a trade and submission of a 

Repo Transaction is revised to reflect 

the following: 

Current fee 2011 proposed fee 

Up to 50,000 submissions per month ..................................................... $0.21 per item ............................... $0.27 per item. 

50,001 to 100,000 submissions per month ............................................. $0.12 per item ............................... $0.15 per item. 

(b) The following Netting Fee and 

Charges have been revised as follows: 

Current fee 2011 proposed fee 

1. For each side of a Compared Trade, other than a Repo Transaction, that is netted, a fee equaling the sum (in addition to the 

comparison fee) of: 

(i) $0.16; and 

(ii) $0.016 per $1 million of par 

value. 

(i) $0.18; and 

(ii) $0.018 per $1 million of par 

value. 

2. For each Start Leg or Close Leg of a Repo Transaction other than 

a GCF Repo Transaction that is netted, a fee equaling the sum (in 

addition to the comparison fee) of: 

(i) $0.16; and 

(ii) $0.016 per $1 million of par 

value. 

(i) $0.18; and 

(ii) $0.018 per $1 million of par 

value. 

(c) Currently, the charge to a member 

for the processing and reporting by the 

GSD of a GCF Repo® transaction is $.05 

per million gross dollar amount of such 

transaction with a minimum charge of 

$2.50. The current charge makes no 

distinction between inter-dealer broker 

members and non-inter-dealer broker 

members. The proposed new charge will 

apply different charges to inter-dealer 

broker members and non-inter-dealer 

broker members. Specifically, the charge 

for non-inter-dealer broker members 

will remain unchanged at $.05 per 

million with a minimum charge of 

$2.50. The charge for inter-dealer 

brokers will be $.025 per million with 

a minimum charge of $1.25. 

(d) The charge for each Deliver 

Obligation and Receive Obligation 

created as a result of the netting process 

is a fee of $0.10 per $1 million of par 

value. This fee is being increased to 

$0.15 per $1 million. 

(e) Repo Transaction Processing Fee. 

a. For a term Repo Transaction other 

than a GCF Repo Transaction that has 

been compared and netted, but which 

has not yet settled, a fee calculated as 

follows: 

i. For Repo Brokers (as defined in 

subsection III.H of the GSD Fee 

Structure) with respect to their brokered 

Repo Transaction activity, a .010 basis 

point charge (i.e., one hundredth of a 

basis point) applied to the gross dollar 

amount of each such Repo Transaction 

is currently in effect. This will be 

increased to 0.0175 basis point charge 

(i.e. one and three quarter hundredth of 

a basis point) and 

ii. For all other Netting Members, as 

well as Repo Brokers with respect to 

their non-brokered Repo Transaction 

activity, a .020 basis point charge (i.e., 

two hundredths of a basis point) applied 

to the gross dollar amount of each such 

Repo Transaction is currently in effect. 

This will be increased to a 0.025 basis 

point charge (i.e. two and a half 

hundredth of a basis point). 

b. For a GCF Repo Transaction that 

has been compared and netted, but 

which has not yet settled, a fee 

calculated as follows: 

i. For Repo Brokers acting as GCF– 

Authorized-Inter-Dealer Brokers, a .010 

basis point charge (i.e., one hundredth 

of a basis point) applied to the gross 

dollar amount of such GCF Repo 

Transaction. This will be increased to 

0.0175 basis point charge (i.e., one and 

three quarter hundredths of a basis 

point) applied to the gross dollar 

amount of such GCF Repo Transaction 

and 

ii. For all other Netting Members, a 

.020 basis point charge (i.e., two 

hundredths of a basis point) applied to 

the gross dollar amount of such GCF 

Repo Transaction. This will be 

increased to 0.025 basis point charge 

(i.e., two and one half hundredths of a 

basis point) applied to the gross dollar 

amount of such GCF Repo Transaction. 

2. Mortgage Backed Securities Division 

(‘‘MBSC’’) Fee Changes 

The MBSD fee structure is revised to 

reflect the following: 

Current old fee 2011 proposed fee 

Par value 

millions 

Par value 

millions 

Up to 2,500 trades per month ................................................................................................................. $1.44 $1.68 

2,501 to 5,000 trades per month ............................................................................................................. 1.32 1.54 


jlentini on DSKJ8SOYB1PROD with NOTICES
598 Federal Register / Vol. 76, No. 3 / Wednesday, January 5, 2011 / Notices 

4 15 U.S.C. 78q–1. 

5Supra note 2. 

6Supra note 3. 

7 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

Current old fee 2011 proposed fee 

Par value 

millions 

Par value 

millions 

5,001 to 7,500 trades per month ............................................................................................................. 1.19 1.39 

7,501 to 10,000 trades per month ........................................................................................................... 1.11 1.30 

10,001 to 12,500 trades per month ......................................................................................................... 0.98 1.15 

12,501 and over trades per month .......................................................................................................... 0.85 0.99 

FICC states that the proposed rule 

change is consistent with the 

requirements of Section 17A of the Act 4

and the rules and regulations 

thereunder because it updates FICC’s fee 

schedule and provides for the equitable 

allocation of fees among its participants. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

FICC does not believe that the 

proposed rule change will have any 

impact or impose any burden on 

competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

FICC has not solicited or received 

written comments relating to the 

proposed rule change. FICC will notify 

the Commission of any comments it 

receives. 

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 5 and Rule 19b– 

4(f)(2) 6 because the proposed rule 

change establishes or changes a due, fee, 

or other charge applicable only to a 

member. 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 

No. SR–FICC–2010–10 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 No. 

SR–FICC–2010–10. 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 such filings 

also will be available for inspection and 

copying at FICC’s principal office and 

on FICC’s Web site at http:// 

www.dtcc.com/legal/rule_filings/ficc/ 

2010.php. 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 submission 

should refer to File No. SR–FICC–2010– 

10 and should be submitted on or before 

January 26, 2011. 

For the Commission by the Division of 

Trading and Markets pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–33252 Filed 1–4–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63620; File No. SR– 

NYSEAmex–2010–122] 

Self-Regulatory Organizations; NYSE 

Amex LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Extending the Operation 

of Its New Market Model Pilot, Until the 

Earlier of Securities and Exchange 

Commission Approval To Make Such 

Pilot Permanent or August 1, 2011 

December 29, 2010. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) and Rule 19b–4 thereunder,2

notice is hereby given that on December 

17, 2010, NYSE Amex LLC (the 

‘‘Exchange’’ or ‘‘NYSE Amex’’) 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 extend the 

operation of its New Market Model 

Pilot, currently scheduled to expire on 

January 31, 2011, until the earlier of 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) approval to 

make such pilot permanent or August 1, 

2011. The text of the proposed rule 

change is available at the Exchange, the 


jlentini on DSKJ8SOYB1PROD with NOTICES