Federal Register / Vol. 77, No. 32 / Thursday, February 16, 2012 / Notices 9293 

17 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. 65472 

(October 3, 2011), 76 FR 62887 (October 11, 2011) 

(SR–NYSEAmex–2011–72). See also Securities 

Exchange Act Release No. 65047 (August 5, 2011), 

76 FR 49812 (August 11, 2011) (SR–NYSEAmex– 

2011–56). The QCC permits an NYSE Amex ATP 

Holder to effect a qualified contingent trade 

(‘‘QCT’’) in a Regulation NMS stock and cross the 

options leg of the trade on the Exchange 

immediately upon entry and without order 

exposure if the order is for at least 1,000 contracts, 

is part of a QCT, is executed at a price at least equal 

to the national best bid or offer, as long as there are 

no Customer orders in the Exchange’s Consolidated 

Book at the same price. 

4The exclusion of Customer-to-Customer QCC 

trades from the Floor Broker rebate will remain. See 

Securities Act Release No. 65943 (December 13, 

2011), 76 FR 78704 (December 19, 2011) (SR– 

NYSEAmex–2011–95). 

5Floor Brokers are required by NYSE Amex Rule 

955NY to have systematized orders prior to 

representing them in open outcry. Using the same 

Electronic Order Capture System, Floor Brokers will 

be able to enter QCC orders for validation by the 

Exchange matching engines and potential 

execution. 

6The International Securities Exchange (‘‘ISE’’) 

offers PRECISE TRADE as a means for users to enter 

orders and Chicago Board Options Exchange has a 

similar front-end order entry system called PULSE. 

Such systems do not require users to develop their 

own internal front-end order entry systems and may 

provide savings to users in terms of development 

time and costs. 

7See Securities Act Release No. 66169 (January 

17, 2011) (SR–ISE–2012–01) (notice of filing and 

immediate effectiveness of a proposed rule change, 

including an increase in ISE rebate of up to $.10 per 

contract for qualifying executed QCC orders), and 

NASDAQ OMX PHLX fee schedule dated January 

18, 2012, page 5 (describing a rebate of up to $.10 

per contract for qualifying executed QCC Orders), 

available at http://www.nasdaqtrader.com/content/ 

marketregulation/membership/phlx/feesched.pdf. 

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

9 15 U.S.C. 78f(b)(4). 

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– 

NASDAQ–2012–021 and should be 

submitted on or before March 8, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–3612 Filed 2–15–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66376; File No. SR– 

NYSEAmex–2012–05] 

Self-Regulatory Organizations; NYSE 

Amex LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending an Existing 

Rebate Relating to Qualified 

Contingent Cross Orders That Are 

Entered and Executed Through the 

Exchange Systems 

February 10, 2012. 

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 

30, 2012, NYSE Amex LLC (the 

‘‘Exchange’’ or ‘‘NYSE Amex’’) 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 selfregulatory 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 amend an 

existing rebate relating to Qualified 

Contingent Cross (‘‘QCC’’) orders that 

are entered and executed through the 

Exchange systems. The text of the 

proposed rule change is available at the 

Exchange, the Commission’s Public 

Reference Room, and www.nyse.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, 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposal is to 

increase a rebate for Floor Brokers who 

enter QCC orders that subsequently 

execute.3 The Exchange intends to 

increase the existing rebate of $.03 per 

executed contract to $.07 per executed 

contract.4

The rebate is credited to the executing 

Floor Broker. The Exchange notes that 

the terms of a QCC order are negotiated 

and agreed to prior to being brought to 

an exchange for possible execution. In 

bringing a QCC order to the Exchange 

for execution, permit holders have two 

primary means of doing so. They can 

configure their systems to deliver the 

QCC order to the Exchange matching 

engines for validation and execution. 

Alternatively they can utilize the 

services of another ATP Holder acting as 

a Floor Broker. In turn, the Floor Broker 

who is in receipt of such an order can 

enter the order through an Exchangeprovided system 5 to be delivered to the 

Exchange matching engine for 

validation and potential execution. The 

Exchange does not offer a front-end for 

order entry, unlike some of the 

competing exchanges.6 The Exchange 

expects that the increased rebate offered 

to executing Floor Brokers will allow 

them to price their services at a level 

that will enable them to attract QCC 

order flow from participants who would 

otherwise utilize an existing front-end 

order entry mechanism offered by the 

Exchange’s competitors or floor brokers 

on other exchanges, instead of incurring 

the cost in time and money to develop 

their own internal systems to be able to 

deliver QCC orders directly to the 

Exchange systems. To the extent that 

Floor Brokers are able to attract these 

QCC orders, they will gain important 

information that will allow them to 

solicit the parties to the QCC orders for 

participation in other trades, which will 

in turn benefit all other Exchange 

participants through the additional 

liquidity and price discovery that may 

occur as a result. The proposed change 

is also a competitive response to recent 

pricing changes at competing 

exchanges.7 The proposed change will 

be operative on February 1, 2012. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6(b) 8 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’), in general, and Section 6(b)(4) 9

of the Act, 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 Exchange believes the proposed 

increase from $.03 per contract to $.07 

per contract rebate for Floor Brokers 

who enter QCC orders that execute is 

reasonable because it will allow Floor 

Brokers the opportunity to compete for 

QCC orders that would otherwise be 


srobinson on DSK4SPTVN1PROD with NOTICES
9294 Federal Register / Vol. 77, No. 32 / Thursday, February 16, 2012 / Notices 

10See supra note 6. 

11See supra note 7. 

12See supra note 4. 

13 15 U.S.C. 78s(b)(3)(A). 

14 17 CFR 240.19b–4(f)(2). 15 17 CFR 200.30–3(a)(12). 

entered into front-end order entry 

systems of competing exchanges or sent 

to floor brokers on exchanges that offer 

higher rebates.10 The proposed rebate is 

comparable to or less than rebates 

offered on both the ISE and NASDAQ 

OMX PHLX in that it is being offered to 

Floor Brokers as an inducement that 

may allow them to competitively price 

their services offered to all 

participants.11 To the extent that the 

rebate is successful in attracting 

additional order flow to the Exchange, 

all participants should benefit. As such 

the Exchange believes that the rebate is 

appropriate and reasonable. 

The Exchange believes the proposal to 

increase the rebate from $.03 per 

contract to a $.07 per contract is 

equitable and not unfairly 

discriminatory because it would 

uniformly apply to all QCC orders 

entered by a Floor Broker for validation 

by the system and potential execution, 

excepting Customer-to-Customer QCC 

trades. The exclusion of Customer-toCustomer QCC trades from the Floor 

Broker rebate will remain.12 Any 

participant will be able to engage a 

rebate-receiving Floor Broker in a 

discussion surrounding the appropriate 

level of fees that they may be charged 

for entrusting the entry of the QCC order 

to the Floor Broker into the Exchange 

systems for validation and execution. 

The additional order flow attracted by 

this increase in the rebate should benefit 

all participants. For this reason the 

Exchange feels the adoption of the 

proposed rebate increase is both 

equitable and not unfairly 

discriminatory. 

For the reasons noted above, the 

Exchange believes that the proposed 

fees are fair, equitable and not unfairly 

discriminatory. 

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) 13 of the Act and 

subparagraph (f)(2) of Rule 19b–4 14

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

NYSE Amex. 

At any time within 60 days of the 

filing of such 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 email to rulecomments@sec.gov. Please include File 

Number SR–NYSEAmex–2012–05 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–NYSEAmex–2012–05. This 

file number should be included on the 

subject line if email 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 NW., 

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 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– 

NYSEAmex–2012–05 and should be 

submitted on or before March 8, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–3608 Filed 2–15–12; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice 7801] 

30-Day Notice of Proposed Information 

Collection: DS–86, Statement of NonReceipt of a Passport 

ACTION: Notice of request for public 

comment and submission to OMB of 

proposed collection of information. 

SUMMARY: The Department of State has 

submitted the following information 

collection request to the Office of 

Management and Budget (OMB) for 

approval in accordance with the 

Paperwork Reduction Act of 1995. 

• Title of Information Collection: 

Statement of Non-Receipt of a Passport. 

• OMB Control Number: 1405–0146. 

• Type of Request: Revision of a 

Currently Approved Collection. 

• Originating Office: Bureau of 

Consular Affairs, CA/PPT/PMO/PC. 

• Form Number: DS–86. 

• Respondents: Individuals who have 

not received the passport for which they 

originally applied. 

• Estimated Number of Respondents: 

12,755 per year. 

• Estimated Number of Responses: 

12,755 per year. 

• Average Hours per Response: 5 min. 

• Total Estimated Burden: 1,063 

hours. 

• Frequency: On Occasion. 

• Obligation to Respond: Required to 

Obtain a Benefit. 

DATES: Submit comments to the Office 

of Management and Budget (OMB) for 

up to 30 days from February 16, 2012. 


srobinson on DSK4SPTVN1PROD with NOTICES