Federal Register / Vol. 74, No. 159 / Wednesday, August 19, 2009 / Notices 41957 

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

10 17 CFR 240.19b-4(f)(2). 

11 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. 

4 15 U.S.C. 78s(b)(3)(A). 

5 17 CFR 240.19b–4(f)(2). 

deem fee levels at a particular venue to 

be excessive. NASDAQ 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 

NASDAQ. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASDAQ 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 has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 9 and 

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

thereunder.10 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–NASDAQ–2009–074 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–2009–074. 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 inspection and copying 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 filing also will be 

available for inspection and copying at 

the principal office of NASDAQ. 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–2009–074 and 

should be submitted on or before 

September 9, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–19894 Filed 8–18–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60495; File No. SR– 

NYSEArca–2009–72] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Implementing the 

Schedule of Fees and Charges for 

Exchange Services 

August 13, 2009. 

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 August 

3, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ 

or the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the self-regulatory 

organization. NYSE Arca filed the 

proposal pursuant to Section 

19(b)(3)(A) 4 of the Act and Rule 19b– 

4(f)(2) 5 thereunder. 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 the 

section of its Schedule of Fees and 

Charges for Exchange Services (the 

‘‘Schedule’’). While changes to the 

Schedule pursuant to this proposal will 

be effective upon filing, the changes will 

become operative on August 3, 2009. 

The text of the proposed rule change is 

attached as Ex.5 to the 19b–4 form. A 

copy of this filing is available on the 

Exchange’s Web site at http:// 

www.nyse.com, at the Exchange’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, 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to make 

multiple changes to its Schedule that 

will take effect on August 3, 2009. A 

more detailed description of the 

proposed changes follows. 

Closing Auctions: 

The Exchange proposes to change the 

fee charged for Market-On-Close and 

Limit-On-Close Orders executed in the 

closing auction from $0.0005 to $0.0007 

per share. This change applies 

universally throughout the Schedule to 


jlentini on DSKJ8SOYB1PROD with NOTICES
41958 Federal Register / Vol. 74, No. 159 / Wednesday, August 19, 2009 / Notices 

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

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

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

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

each instance that a fee for Market-OnClose and Limit-On-Close Orders is 

explicitly stated. The Exchange also 

proposes to add to the Schedule a 

$0.0007 fee for PO+ Market-On-Close 

and Limit-On-Close Orders routed to 

NYSE Amex. The proposed fees are part 

of the Exchange’s continued effort to 

attract and enhance participation in the 

Closing Auctions by offering attractive 

rates. 

IOI Credit: 

The Exchange proposes to add a 

$0.0015 per share credit for each IOI 

that results in an execution in excess of 

15 million shares based on average daily 

volume (‘‘ADV’’) per month. This new 

$0.0015 per share credit is an 

incremental credit that only applies to 

those shares executed in excess of 15 

million shares ADV. ETP Holders 

qualifying for the Tier 1 IOI credit will 

now receive a $.0012 per share credit for 

each share up to and including 15 

million, and a $0.0015 per share credit 

for each share in excess of 15 million. 

For example, an ETP Holder that sends 

IOI’s to the Exchange resulting in 

execution with an average daily share 

volume per month equal to 16 million 

shares will receive a $0.0012 credit for 

the first 15 million shares and a $0.0015 

credit for one million shares (15,000,001 

to 16,000,000). The proposed rates are 

part of the Exchange’s continued effort 

to attract and enhance participation in 

the IOI program, by offering attractive 

rebates and volume based incentives. 

Odd-Lot Pricing: 

The Exchange also proposes to 

eliminate its odd-lot pricing structure. 

Previously the Exchange charged $0.03 

per share for odd-lot orders executed 

against orders residing in the book in 

Tape A and Tape B securities, and 

$0.0035 per share for Tape C securities. 

The Exchange paid a $0.02 per share 

credit to market makers that executed 

against an odd-lot order. The Exchange 

also had odd-lot pricing associated with 

odd-lots routed to different market 

centers. Under this proposal the 

Exchange will eliminate all distinct 

odd-lot pricing. ETP Holders executing 

odd-lots will now be charged and 

credited in the same way that round-lots 

are charged and credited. This change 

will simplify the Schedule and treat 

odd-lots in the same manner as roundlots. 

The Exchange believes the proposed 

fees are reasonable and equitable in that 

they apply uniformly to all ETP 

Holders. The proposed changes will 

become operative on August 3, 2009. 

The Exchange notes that it is making 

technical changes to correct the footnote 

numbering. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),6 in general, and Section 6(b)(4) 

of the Act,7 in particular, in that it is 

designed to provide for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members and 

other persons using its facilities. The 

proposed rates are part of the 

Exchange’s continued effort to attract 

and enhance participation on the 

Exchange, by offering attractive rebates 

for liquidity providers and volumebased incentives. The Exchange believes 

that the proposed changes to the 

Schedule are equitable in that they 

apply uniformly to our Users. 

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 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

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) 8 of the Act and 

subparagraph (f)(2) of Rule 19b–4 9

thereunder, because it establishes a due, 

fee, or other charge imposed by NYSE 

Arca on its members. 

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–NYSEArca–2009–72 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–NYSEArca–2009–72. 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 inspection and copying 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–2009–72 and 

should be submitted on or before 

September 9, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–19895 Filed 8–18–09; 8:45 am] 

BILLING CODE 8010–01–P 


jlentini on DSKJ8SOYB1PROD with NOTICES