Federal Register / Vol. 77, No. 63 / Monday, April 2, 2012 / Notices 19743 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The ORF applies to all ‘‘C’’ account origin code 

orders executed by a member on the Exchange. 

Exchange Rules require each member to record the 

appropriate account origin code on all orders at the 

time of entry in order to allow the Exchange to 

properly prioritize and route orders and assess 

transaction fees pursuant to the Rules of the 

Exchange and report resulting transactions to OCC. 

See Exchange Rule 1063, Responsibilities of Floor 

Brokers, and Options Floor Procedure Advice F–4, 

Orders Executed as Spreads, Straddles, 

Combinations or Synthetics and Other Order Ticket 

Marking Requirements. The Exchange represents 

that it has surveillances in place to verify that 

members mark orders with the correct account 

origin code. 

4 In the case where one member both executes a 

transaction and clears the transaction, the ORF is 

assessed to the member only once on the execution. 

In the case where one member executes a 

transaction and a different member clears the 

transaction, the ORF is assessed only to the member 

who executes the transaction and is not assessed to 

the member who clears the transaction. In the case 

where a non-member executes a transaction and a 

member clears the transaction, the ORF is assessed 

to the member who clears the transaction. 

All submissions should refer to File 

Number SR–CBOE–2012–029. 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, NE., 

Washington, DC 20549, on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of such 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 No. SR–CBOE– 

2012–029 and should be submitted on 

or before April 23, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–7772 Filed 3–30–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66664; File No. SR–Phlx– 

2012–36] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to the 

Options Regulatory Fee 

March 27, 2012. 

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 

March 19, 2012, 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 increase its 

Options Regulatory Fee (‘‘ORF’’). 

While changes to the Pricing 

Schedule pursuant to this proposal are 

effective upon filing, the Exchange has 

designated these changes to be operative 

June 1, 2012. 

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 amend the ORF to increase 

it from $0.004 per contract to $0.0045 

per contract in order to recoup 

increased regulatory expenses while 

also ensuring that the ORF will not 

exceed costs. 

The ORF is assessed to each member 

for all options transactions executed or 

cleared by the member that are cleared 

at The Options Clearing Corporation 

(‘‘OCC’’) in the customer range (i.e., that 

clear in the customer account of the 

member’s clearing firm at OCC). The 

Exchange monitors the amount of 

revenue collected from the ORF to 

ensure that it, in combination with other 

regulatory fees and fines, does not 

exceed regulatory costs. The ORF is 

imposed upon all transactions executed 

by a member, even if such transactions 

do not take place on the Exchange.3 The 

ORF also includes options transactions 

that are not executed by an Exchange 

member but are ultimately cleared by an 

Exchange member.4 The ORF is not 

charged for member proprietary options 

transactions because members incur the 

costs of owning memberships and 

through their memberships are charged 

transaction fees, dues and other fees that 

are not applicable to non-members. The 

dues and fees paid by members go into 

the general funds of the Exchange, a 

portion of which is used to help pay the 

costs of regulation. The ORF is collected 

indirectly from members through their 

clearing firms by OCC on behalf of the 

Exchange. 

The ORF is designed to recover a 

portion of the costs to the Exchange of 

the supervision and regulation of its 

members, including performing routine 

surveillances, investigations, 

examinations, financial monitoring, and 

policy, rulemaking, interpretive, and 

enforcement activities. The Exchange 

believes that revenue generated from the 

ORF, when combined with all of the 

Exchange’s other regulatory fees, will 

cover a material portion, but not all, of 

the Exchange’s regulatory costs. The 

Exchange will continue to monitor the 

amount of revenue collected from the 

ORF to ensure that it, in combination 

with its other regulatory fees and fines, 

do not exceed regulatory costs. If the 

Exchange determines regulatory 

revenues exceed regulatory costs, the 

Exchange will adjust the ORF by 

submitting a fee change filing to the 

Commission. 

mstockstill on DSK4VPTVN1PROD with NOTICES

19744 Federal Register / Vol. 77, No. 63 / Monday, April 2, 2012 / Notices 

5 15 U.S.C. 78f(b). 

6 15 U.S.C. 78f(b)(4). 7 15 U.S.C. 78s(b)(3)(A)(ii). 8 17 CFR 200.30–3(a)(12). 

While changes to the Pricing 

Schedule pursuant to this proposal are 

effective upon filing, the Exchange has 

designated these changes to be operative 

on June 1, 2012. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its Pricing Schedule 

is consistent with Section 6(b) of the 

Act 5 in general, and furthers the 

objectives of Section 6(b)(4) of the Act 6

in particular, in that it is an equitable 

allocation of reasonable fees and other 

charges among Exchange members. The 

Exchange believes that the fee change is 

reasonable because the Exchange’s 

collection of ORF has declined due to a 

decrease in industry volume and the 

adjustment would serve to provide the 

Exchange with additional ORF. The 

additional ORF offsets regulatory 

expenses, but does not exceed 

regulatory costs. 

The Exchange believes that the ORF is 

equitable and not unfairly 

discriminatory because it is objectively 

allocated to Exchange members in that 

it would continue to be charged to all 

members on all of their transactions that 

clear as customer at OCC. The Exchange 

is assessing higher fees to those member 

firms that require more Exchange 

regulatory services based on the amount 

of customer options business they 

conduct. In addition, the ORF seeks to 

recover the costs of supervising and 

regulating members, including 

performing routine surveillances, 

investigations, examinations, financial 

monitoring, and policy, rulemaking, 

interpretive, and enforcement activities. 

The ORF is not charged for member 

proprietary options transactions because 

members incur the costs of owning 

memberships and through their 

memberships are charged transaction 

fees, dues and other fees that are not 

applicable to non-members. 

Additionally, the dues and fees paid by 

members go into the general funds of 

the Exchange, a portion of which is used 

to help pay the costs of regulation. 

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.7 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 email to rulecomments@sec.gov. Please include File 

Number SR–Phlx–2012–36 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–2012–36. 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 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– 

2012–36 and should be submitted on or 

before April 23, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–7771 Filed 3–30–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

Advanced BioPhotonics, Inc., 

Advanced Viral Research Corp., 

Brantley Capital Corp., Brilliant 

Technologies Corporation, 4C 

Controls, Inc., and 2–Track Global, 

Inc.; Order of Suspension of Trading 

March 29, 2012. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Advanced 

BioPhotonics, Inc. because it has not 

filed any periodic reports since the 

period ended September 30, 2007. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Advanced 

Viral Research Corp. because it has not 

filed any periodic reports since the 

period ended September 30, 2008. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Brantley 

Capital Corp. because it has not filed 

any periodic reports since the period 

ended September 30, 2004. 

It appears to the Securities and 

Exchange Commission that there is a 

mstockstill on DSK4VPTVN1PROD with NOTICES