Federal Register / Vol. 75, No. 36 / Wednesday, February 24, 2010 / Notices 8423 

11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b-4. 

3The Commission notes that Exhibit 5 is not 

attached to this Notice which is being published in 

the Federal Register, however it will be posted on 

the Commission’s Web site. 

4See http://www.directedge.com/SubscriberInfo/ 

FeeSchedule.aspx. 

5 17 CFR 242.610. 

6 15 U.S.C. 78f. 

7 15 U.S.C. 78f(b)(4). 

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–Phlx– 

2010–17 and should be submitted on or 

before March 17, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–3546 Filed 2–23–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61514; File No. SR–BX– 

2010–013] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

of Proposed Rule Change To Modify 

Fees for Members Using the NASDAQ 

OMX BX Equities System 

February 12, 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 January 

29, 2010, NASDAQ OMX BX, Inc. 

(‘‘BX’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’) 

the proposed rule change as described 

in Items I, II, and III below, which Items 

have been prepared by the Exchange. 

The Commission is publishing this 

notice to solicit comments on the 

proposed rule from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

BX is filing a proposed rule change to 

modify pricing for BX members using 

the NASDAQ OMX BX Equities System. 

BX will implement the proposed rule 

change on February 1, 2010. The text of 

the proposed rule change is attached as 

Exhibit 5 3and is available at http:// 

nasdaqomxbx.cchwallstreet.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, 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

BX is proposing to modify its fees to 

execute transactions on the NASDAQ 

OMX BX Equities System. BX is 

modifying its fee structure for securities 

that execute at prices below $1. For 

these securities, BX currently charges 

members accessing liquidity a fee equal 

to 0.1% (10 basis points) of the total 

transaction cost and provides no credit 

to members providing liquidity. Under 

the new fee structure, members 

accessing liquidity will be charged 0.3% 

(30 basis points) of the total transaction 

cost, and members providing liquidity 

will be provided a credit equal to 0.25% 

(25 basis points) of the total transaction 

cost. The change is intended to provide 

a competitive response to another 

trading venue that has adopted a similar 

‘‘maker-taker’’ pricing structure for 

securities priced below $1.4 The 

proposal is consistent with the 

provisions of Rule 610 under Regulation 

NMS5 that govern access fees. 

2. Statutory Basis 

BX believes that the proposed rule 

change is consistent with the provisions 

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

with Section 6(b)(4) of the Act,7 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. BX is adapting the ‘‘makertaker’’ pricing model that is prevalent 

across most U.S. transaction venues for 

securities priced at $1 or higher and 

applying it [sic] securities priced below 

$1. This change is a competitive 

response to another trading venue that 

has already introduced this pricing 

model for low-priced securities. The 

change will result in a fee increase for 

firms when they access liquidity in 

these securities and a fee reduction for 

firms when they provide liquidity in 

these stocks. The proposed fee change 

applies uniformly to all BX members. 

The impact of the changes upon the 

net fees paid by a particular market 

participant will depend upon the types 

of stocks that it trades, the order types 

that it uses, and the prices of its quotes 

and orders (i.e., its propensity to add or 

remove liquidity). BX notes that it 

operates in a highly competitive market 

in which market participants can 

readily direct order flow to competing 

venues if they deem fee levels at a 

particular venue to be excessive. BX 

believes that its fees remain competitive 

with other venues and are reasonable 

and equitably allocated to those 

members on the basis of whether they 

opt to direct orders to BX. 

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. 


pwalker on DSK8KYBLC1PROD with NOTICES
8424 Federal Register / Vol. 75, No. 36 / Wednesday, February 24, 2010 / Notices 

8 15 U.S.C. 78s(b)(3)(a)(ii). 

9 17 CFR 240.19b-4(f)(2). 10 17 CFR 200.30–3(a)(12). 

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 Act8 and 

subparagraph (f)(2) of Rule 19b-4 

thereunder.9 At any time within 60 days 

of the filing of the proposed rule change, 

the Commission may summarily 

abrogate 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–2010–013 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–2010–013. 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 will 

also be available for inspection and 

copying at the principal office of the 

self-regulatory organization. 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–BX–2010–013 and should 

be submitted on or before March 17, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–3544 Filed 2–23–10; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice 6904] 

Culturally Significant Objects Imported 

for Exhibition Determinations: ‘‘Leaves 

From an Austrian Mahzor’’ 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, Delegation of Authority 

No. 236 of October 19, 1999, as 

amended, and Delegation of Authority 

No. 257 of April 15, 2003 [68 FR 19875], 

I hereby determine that the objects to be 

included in the exhibition ‘‘Leaves from 

an Austrian Mahzor,’’ imported from 

abroad for temporary exhibition within 

the United States, are of cultural 

significance. The objects are imported 

pursuant to loan agreements with the 

foreign owners or custodians. I also 

determine that the exhibition or display 

of the exhibit objects at the Metropolitan 

Museum of Art Cloisters, New York, 

NY, from on or about June 1, 2010, until 

on or about June 1, 2012, and at possible 

additional exhibitions or venues yet to 

be determined, is in the national 

interest. Public Notice of these 

Determinations is ordered to be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Carol B. 

Epstein, Attorney-Adviser, Office of the 

Legal Adviser, U.S. Department of State 

(telephone: 202/632–6473). The address 

is U.S. Department of State, SA–5, L/PD, 

Fifth Floor, Washington, DC 20522– 

0505. 

Dated: February 17, 2010. 

Maura M. Pally, 

Deputy Assistant Secretary for Professional 

and Cultural Exchanges, Bureau of 

Educational and Cultural Affairs, Department 

of State. 

[FR Doc. 2010–3710 Filed 2–23–10; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF STATE 

[Public Notice 6903] 

Culturally Significant Objects Imported 

for Exhibition Determinations: 

‘‘Matisse: Radical Invention 1913–1917’’ 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, Delegation of Authority 

No. 236 of October 19, 1999, as 

amended, and Delegation of Authority 

No. 257 of April 15, 2003 [68 FR 19875], 

I hereby determine that the objects to be 

included in the exhibition ‘‘Matisse: 

Radical Invention 1913–1917,’’ imported 

from abroad for temporary exhibition 

within the United States, are of cultural 

significance. The objects are imported 

pursuant to loan agreements with the 

foreign owners or custodians. I also 

determine that the exhibition or display 

of the exhibit objects at the Art Institute 

of Chicago, Chicago, IL, from on or 

about March 20, 2010, until on or about 

June 20, 2010; at the Museum of Modern 

Art, New York, NY, from on or about 

July 18, 2010, until on or about October 

11, 2010; and at possible additional 

exhibitions or venues yet to be 

determined, is in the national interest. 

Public Notice of these Determinations is 

ordered to be published in the Federal 

Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Carol B. 

Epstein, Attorney-Adviser, Office of the 

Legal Adviser, U.S. Department of State 

(telephone: 202/632–6473). The address 

is U.S. Department of State, SA–5, L/PD, 

Fifth Floor, Washington, DC 20522– 

0505. 


pwalker on DSK8KYBLC1PROD with NOTICES