Federal Register / Vol. 76, No. 155 / Thursday, August 11, 2011 / Notices 49821 

29 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 63780 

(January 26, 2011), 76 FR 5846 (February 2, 2011) 

(SR–Phlx–2011–07). 

4The Exchange released SQF 6.0 on October 11, 

2010. The Exchange anticipates that member 

organizations will utilize both SQF 5.0 and SQF 6.0 

for a period of time. SQF 6.0 will increase efficiency 

for interested participants by allowing them to 

access in a single feed available to all participants, 

rather than through accessing multiple feeds, 

information such as execution reports and other 

relevant data. In order for participants to access all 

of this information currently or for any that do not 

use SQF 6.0 in the future, they must rely on a risk 

management feed and the TOPO/TOPO Plus Orders 

Exchange interfaces. Non quoting firms that would 

like to receive the relevant information available 

over SQF will be allowed to connect to the SQF 

interface, but not send quotes. Data proposed for 

SQF 6.0 will initially include the following: (1) 

Options Auction Notifications (e.g., opening 

imbalance, market exhaust, PIXL or other 

information currently provided on SQF 5.0); (2) 

Options Symbol Directory Messages (currently 

provided on SQF 5.0); (3) System Event Messages 

(e.g., start of messages, start of system hours, start 

of quoting, start of opening); (4) Complex Order 

Strategy Auction Notifications (COLA); (5) Complex 

Order Strategy messages; (6) Option Trading Action 

Messages (e.g., halts, resumes); and (7) Complex 

Strategy Trading Action Message (e.g., halts, 

resumes). See Securities Exchange Act Release No. 

63034 (October 4, 2010), 75 FR 62441 (October 8, 

2010) (SR–Phlx–2010–124). 

5For purposes of the Active SQF Port Fee, a Phlx 

Only Member is a Phlx member that is not a 

member or member organization of another national 

securities exchange. 

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

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

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 Section, 100 F Street, NE., 

Washington, DC 20549–1090 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 

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–2011–52 and should be 

submitted on or before September 1, 

2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.29

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–20389 Filed 8–10–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–65046; File No. SR–Phlx– 

2011–105] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to the 

Active SQF Port Fee 

August 5, 2011. 

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 August 2, 

2011, NASDAQ OMX PHLX LLC 

(‘‘Phlx’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘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 

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 

Exchange’s Fee Schedule to extend the 

Active Specialized Quote Feed (‘‘SQF’’) 

Port Fee monthly cap from its current 

expiration of November 30, 2011 3 to 

December 30, 2011. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://nasdaqtrader.com/ 

micro.aspx?id=PHLXfilings, at the 

principal office of the Exchange, 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 

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 

Exchange 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 

The purpose of the proposed rule 

change is to extend the timeframe for 

member organizations to cap their 

Active SQF Port Fees in order that they 

will have additional time to transition 

from SQF 5.0 to SQF 6.0.4 Active SQF 

ports refer to ports that receive inbound 

quotes at any time within that month. 

SQF is an interface that enables 

specialists, Streaming Quote Traders 

(‘‘SQTs’’) and Remote Streaming Quote 

Traders (‘‘RSQTs’’) to connect and send 

quotes into Phlx XL. 

The Exchange currently has a tiered 

Active SQF Port Fee as follows: 

Number of Active SQF 

Ports 

Cost Per Port Per 

Month 

0–4 .................................. 350 

5–18 ................................ 1,250 

19–40 .............................. 2,350 

41 and over .................... 3,000 

Active SQF Port Fees are capped at 

$500 per month for member 

organizations that are (i) Phlx Only 

Members; 5 and (ii) have 50 or less SQT 

assignments affiliated with their 

member organization. Currently, Active 

SQF Port Fees are capped at $40,000 per 

month (‘‘Cap’’) until November 30, 2011 

for all member organizations other than 

those member organizations who meet 

the requirements of the $500 per month 

cap. The purpose of the Cap is to ensure 

member organizations are not assessed 

fees in excess of the Active SQF Port 

Fees. 

The Exchange proposes to extend the 

Cap until December 30, 2011 because 

the Exchange believes that member 

organizations would require additional 

time to properly transition to SQF 6.0 

ports. On January 2, 2012, there will no 

longer be a Cap in effect for the Active 

SQF Port Fee. No other changes are 

proposed with respect to Active SQF 

Port Fees. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its Fee Schedule is 

consistent with Section 6(b) of the Act 6

in general, and furthers the objectives of 

Section 6(b)(4) of the Act 7 in particular, 

in that it is an equitable allocation of 

reasonable fees and other charges among 


srobinson on DSK4SPTVN1PROD with NOTICES
49822 Federal Register / Vol. 76, No. 155 / Thursday, August 11, 2011 / Notices 

8 15 U.S.C. 78s(b)(3)(A)(ii). 9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 64958 

(July 25, 2011) (SR–NASDAQ–2011– 095) 

(‘‘NASDAQ Proprietary Trader Filing’’). 

Exchange members and other persons 

using its facilities. 

The Exchange believes that its 

proposal to extend the applicability of 

the Cap for Active SQF Port Fees is both 

reasonable and equitable because it 

would allow member organizations 

additional time to transition from SQF 

5.0 to SQF 6.0. The proposal is equitable 

and not unfairly discriminatory in that 

the Exchange is extending the Cap for 

all member organizations. 

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 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 either 

solicited or 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.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–Phlx–2011–105 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–Phlx–2011–105. 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–Phlx– 

2011–105 and should be submitted on 

or before September 1, 2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2011–20387 Filed 8–10–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–65041; File No. SR– 

NASDAQ–2011–107] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Correct the 

Proprietary Trader Registration 

Category 

August 5, 2011. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 2 thereunder, 

notice is hereby given that on August 1, 

2011, The NASDAQ Stock Market LLC 

(the ‘‘Exchange’’ or ‘‘NASDAQ’’) filed 

with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

the proposed rule change as described 

in Items I and II, below, which Items 

have been prepared by the Exchange. 

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 

NASDAQ is filing with the 

Commission a proposed rule change to 

correct a prior filing to make it 

applicable to NASDAQ and not just the 

NASDAQ Options Market (‘‘NOM’’).3

The prior filing amended NASDAQ Rule 

1032, Categories of Representative 

Registration, to adopt a new limited 

category of representative registration 

for proprietary traders, as described 

further below. 

The text of the proposed rule change 

is available at http:/nasdaq.

cchwallstreet.com/, at NASDAQ’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 

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 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 


srobinson on DSK4SPTVN1PROD with NOTICES