1292 Federal Register / Vol. 78, No. 5 / Tuesday, January 8, 2013 / Notices 

22 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(2). 

5The Commission has modified the text of the 

summaries prepared by NSCC. 6 15 U.S.C. 78q-1(b)(3)(F). 

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– 

NYSEMKT–2012–86 and should be 

submitted on or before January 29, 2013. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.22

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2013–00082 Filed 1–7–13; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–68562; File No. SR–NSCC– 

2012–11] 

Self-Regulatory Organizations; 

National Securities Clearing 

Corporation; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Revise Its Fee 

Structure as It Relates to Certain 

Insurance and Retirement Processing 

Services and To Remove Reference to 

and the Fees Related to FundSPEED, 

a Discontinued Service 

January 2, 2013. 

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 December 

21, 2012, the National Securities 

Clearing Corporation (‘‘NSCC’’) 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 primarily by NSCC. 

NSCC filed the proposed rule change 

pursuant to Section 19(b)(3)(A)(ii) 3 of 

the Act and Rule 19b–4(f)(2) 4

thereunder, so that the proposed rule 

change was effective upon filing with 

the Commission. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Clearing Agency’s Statement of the 

Terms of Substance of the Proposed 

Rule Change 

The proposed rule change is to revise 

Addendum A (Fee Structure) of NSCC’s 

Rules & Procedures (‘‘Rules’’) as it 

relates to certain Insurance and 

Retirement Services (‘‘I&RS’’) fees and 

remove reference to FundSPEED, a 

discontinued service. 

II. Clearing Agency’s Statement of the 

Purpose of, and Statutory Basis for, the 

Proposed Rule Change 

In its filing with the Commission, 

NSCC 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. NSCC has prepared 

summaries, set forth in sections (A), (B), 

and (C) below, of the most significant 

aspects of such statements.5

(A) Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

(a) Proposal Overview 

The purpose of the proposed rule 

change is to revise NSCC’s fee schedule 

(as listed in Addendum A of the Rules), 

as it relates to certain I&RS, to replace 

the current fee structure with a tiered 

fee structure. This change is being made 

in order to simplify the fee schedule 

with respect to these services. In 

connection with this change, certain 

I&RS fees have been changed in order to 

align those fees with the costs of 

delivering the related services, with the 

expectation that the fee changes, in the 

aggregate, will be revenue neutral to 

NSCC. 

The Addendum A I&RS fee schedule 

changes are: 

• Eliminating the Business 

Attachment subpart and associated fees; 

• Eliminating the Licensing and 

Appointments subpart and associated 

fees; 

• Eliminating the Request for 

Replacement subpart and associated 

fees; 

• Eliminating the Request for 

Replacement Status (including 

incremental statuses) subpart and 

associated fees; 

• Eliminating the Inforce Transaction 

Fees section and associated fees; and 

• Adding an Other Services Fees 

section, comprised of the following five 

tiers and associated fees and services: 

1. TIER 1—$0.05—All Attachments 

(per attachment, per side); 

2. TIER 2—$0.15—Licensing and 

Appointments (L&A) Periodic 

Reconciliation (per item); 

3. TIER 3—$0.35—Licensing and 

Appointments (L&A) Transaction (per 

item), Registered Representative Change 

Confirm (per transaction, per side), 

Brokerage Identification Number 

Change Request (per transaction, per 

side), Brokerage Identification Number 

Change Confirm (per transaction, per 

side), Values Inquiry (per inquiry, 

includes response, per side); 

4. TIER 4—$0.65—Customer Account 

Transfer Output (per transaction, 

charged to Insurance Carrier/Retirement 

Services Member only), Customer 

Account Transfer Confirm (per 

transaction, per side), Settlement 

Processing (per transaction, per side), 

Request for Replacement Status (a/k/a 

Pending Case Status)—Receiving Carrier 

(per Request for Replacement Status), 

Request for Replacement Status (a/k/a 

Pending Case Status)—Deliverer (per 

Request for Replacement Status), 

Registered Representative Change 

Request (per transaction, per side), Time 

Expired Transaction (per transaction, 

per side); and 

5. TIER 5—$1.25—Fund Transfer (per 

request, per side), Withdrawals (per 

request, per side), Arrangements (per 

request, per side), Request for 

Replacement—Delivering Carrier (per 

request), Request for Replacement— 

Receiving Carrier (per request). NSCC is 

also removing reference to the I&RS 

‘‘Beneficiary Update Request’’ and 

‘‘Beneficiary Confirm’’ in Addendum A 

of the Rules. These functions do not 

require a line item in the fee schedule 

because there is no charge for these 

services. 

In addition, NSCC is making a 

technical change to remove from 

Addendum A of the Rules reference to 

and the fees related to FundSPEED, as 

this service was discontinued. 

The above changes took effect on 

January 1, 2013. 

(b) Statutory Basis 

NSCC believes the proposed rule is 

consistent with the requirements of the 

Act, specifically Section 17A(b)(3)(F),6

and the rules and regulations 

thereunder applicable to NSCC because 

it updates NSCC’s fee schedule to align 

fees with the costs of delivering 

services. As such, it provides for the 

equitable allocation of fees among 

NSCC’s Members. 

(B) Self-Regulatory Organization’s 

Statement on Burden on Competition 

NSCC does not believe that the 

proposed rule change will have any 

impact, or impose any burden, on 

competition. 


srobinson on DSK4SPTVN1PROD with 
Federal Register / Vol. 78, No. 5 / Tuesday, January 8, 2013 / Notices 1293 

7 15 U.S.C. 78s(b)(3)(A)(ii). 

8 17 CFR 240.19b–4(f)(2). 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Non-Penny Pilot refers to options classes not in 

the Penny Pilot. 

4A BX Options Market Maker must be registered 

as such pursuant to Chapter VII, Section 2 of the 

BX Options Rules, and must also remain in good 

standing pursuant to Chapter VII, Section 4. 

5A Non-Customer includes a Professional, Firm, 

Broker-Dealer and Non-BX Options Market Maker. 

(C) Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments relating to the 

proposed rule change have not yet been 

solicited or received. NSCC will notify 

the Commission of any written 

comments received by NSCC. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The forgoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 7 and Rule 19b– 

4(f)(2) 8 thereunder. 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. 

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 

No. SR–NSCC–2012–11 on the subject 

line. 

Paper Comments 

• Send 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–NSCC–2012–11. 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 

10:00 a.m. and 3:00 p.m. Copies of such 

filings will also be available for 

inspection and copying at the principal 

office of NSCC and on NSCC’s Web site 

at http://www.dtcc.com/downloads/ 

legal/rule_filings/2012/nscc/SRO-NSCC2012-11.pdf. 

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–NSCC–2012–11 and should 

be submitted on or before January 29, 

2013. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2013–00083 Filed 1–7–13; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–68556; File No. SR–BX– 

2012–074] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Non-Penny Pilot Options Fees 

January 2, 2013. 

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 December 

18, 2012, NASDAQ OMX BX, Inc. (‘‘BX’’ 

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 BX 

Options Rules, Chapter XV, Section 2 

entitled ‘‘BX Options Market—Fees and 

Rebates’’ to adopt fees and rebates for 

Non-Penny Pilot Options.3

While the changes proposed herein 

are effective upon filing, the Exchange 

has designated these changes to be 

operative on January 2, 2013. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://nasdaqomxbx.cchwallstreet. 

com/NASDAQOMXBX/Filings/, 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

BX proposes to amend Chapter XV, 

Section 2(1) to adopt fees and rebates for 

Customers, BX Options Market Makers 4

and Non-Customers 5 trading in NonPenny Pilot Options on its options 

market. The Exchange believes the 

addition of Non-Penny Pilot Options 

fees and rebates will allow the Exchange 

to compete more effectively with other 

exchanges that have similarly adopted 

such pricing. The Exchange plans to list 

Non-Penny Pilot Options on January 2, 

2013. 

The Exchange proposes to adopt a Fee 

to Add Liquidity, a Rebate to Remove 

Liquidity and a Fee to Remove Liquidity 

in Non-Penny Pilot Options. 

Specifically, the Exchange proposes to 


srobinson on DSK4SPTVN1PROD with