Federal Register / Vol. 74, No. 44 / Monday, March 9, 2009 / Notices 10107 

17See March 2nd E-mail, supra note 6. 

18 15 U.S.C. 78s(b)(3)(A). 

19 In addition, Rule 19b–4(f)(6)(iii) requires a selfregulatory organization to give the Commission 

written notice of its intent to file the proposed rule 

change at least five business days prior to the date 

of filing of the proposed rule change, or such 

shorter time as designated by the Commission. The 

Exchange has satisfied this requirement. 17 CFR 

240.19b–4(f)(6)(iii). 

20Amex Rule 60—AEMI (‘‘Vendor Liability 

Disclaimer’’). AEMI (‘‘Auction & Electronic Market 

Integration’’) System was Amex’s Hybrid Market 

Structure for equities and exchange-traded funds 

prior to the merger with NYSE. 

21 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. 

these comments received in response to 

NYSE’s filing, SR–NYSE–2008–55.17

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The proposed rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A) of the Act.18 The Exchange 

asserts that the proposed rule change (i) 

will not significantly affect the 

protection of investors or the public 

interest, (ii) will not impose any 

significant burden on competition, and 

(iii) by its terms, will not become 

operative for 30 days after the date of 

this filing, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest.19

The Exchange believes that the instant 

filing is non-controversial. The 

Commission has approved a third-party 

vendor liability provision that was filed 

by the American Stock Exchange which 

required members and member 

organizations to indemnify the 

Exchange and its vendors and/or 

subcontractors and provided that such 

vendor and its subcontractors shall not 

be liable to the member or member 

organization for any damages sustained 

by a member or member organization 

from use of these third-party vendor 

systems.20 The Exchange submits that 

its proposed rule change is less 

expansive that Amex Rule 60—AEMI 

and affords a member or member 

organization the ability to recover from 

a loss sustained by use of a third-party 

vendor system. The proposed rule 

change offers its members and member 

organizations two layers of recourse in 

the event of a third-party vendor system 

malfunction, i.e., filing a claim pursuant 

to NYSE Rule 18 and then filing a claim 

directly against the third-party vendor 

for any remaining balance of the loss 

amount. Therefore, the Exchange 

submits that this proposed rule filing, in 

light of the more restrictive vendor 

liability disclaimer rules previously 

approved by the Commission, is noncontroversial. 

The Exchange proposes this rule 

amendment in light of feedback from its 

member and customer constituencies. 

Accordingly, the Exchange submits that 

this proposed amendment is noncontroversial and reflects the public 

interest. 

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 Exchange 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–NYSE–2009–16 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–NYSE–2009–16. 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 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–NYSE–2009–16 and should 

be submitted on or before March 30, 

2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.21

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4874 Filed 3–6–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59491; File No. SR–NYSE– 

2009–20] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by New York 

Stock Exchange LLC Extending a 

Temporary Equity Transaction Fee for 

Shares Executed on the NYSE 

MatchPoint SM System, Effective March 

1, 2009 Until April 30, 2009 

March 3, 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 February 

26, 2009, New York Stock Exchange 

LLC (‘‘NYSE’’ 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 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 extend a 

temporary equity transaction fee for 

shares executed on the NYSE 

MatchPointSM (‘‘NYSE MatchPoint’’ or 

‘‘MatchPoint’’) system, effective March 

1, 2009 until April 30, 2009. The 

Exchange will charge each member 

organization using the MatchPoint 

system a per share fee scaled to the 


dwashington3 on PROD1PC60 with NOTICES
10108 Federal Register / Vol. 74, No. 44 / Monday, March 9, 2009 / Notices 

4See Securities Exchange Act Release No. 59229 

(January 12, 2009) 74 FR 3119 (January 16, 2009), 

approving SR–NYSE–2009–01[sic]. 

5 15 U.S.C. 78a. 

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(2). 8 17 CFR 200.30–3(a)(12). 

average daily volume of shares it 

executes on the MatchPoint system. 

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 

On January 7, 2009, the Exchange 

filed with the Securities and Exchange 

Commission (the ‘‘Commission’’) a 

proposed rule change to adopt a 

temporary equity transaction fee for 

shares executed on the NYSE 

MatchPointSM system, effective until 

February 28, 2009 (the ‘‘January 

filing’’).4 Through this filing, the 

Exchange proposes to extend this equity 

transaction fee to be effective March 1, 

2009 until April 30, 2009. 

Prior to the January filing, the equity 

transaction fee was $.0015 per share 

executed on the MatchPoint system. In 

the January filing, the Exchange 

proposed to adopt a scaled fee for 

MatchPoint users based on the average 

daily volume of shares executed during 

a calendar month through the 

MatchPoint system as follows: 

Average daily volume of 

shares executed rate 

50,000 shares or less ...... $.0015 per share 

Over 50,000 to 499,999 ... $.0010 per share 

500,000 and greater ........ $.0005 per share 

The Exchange believes that the 

extension of the fee schedule until April 

30, 2009 will continue to reward those 

who have been using the MatchPoint 

system for share execution, and will 

provide a continued incentive for new 

participants in MatchPoint. 

It is intended that the MatchPoint fee 

will revert to the equity transaction fee 

of $.0015 per share beginning May 1, 

2009. 

2. Statutory Basis 

The basis under the Securities 

Exchange Act of 1934 (the ‘‘Act’’) 5 for 

the proposed rule change is the 

requirement under Section 6(b)(4) that 

an exchange have rules that 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 

fees are reasonable in that they carry 

forward a reduction in fees that the 

January filing established, and are 

equitable in that they are available to all 

members who access the MatchPoint 

system. 

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) 6 of the Act and 

subparagraph (f)(2) of Rule 19b–4 7

thereunder, because it establishes a due, 

fee, or other charge imposed by the 

NYSE. 

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–NYSE–2009–20 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-NYSE–2009–20. 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–NYSE–2009–20 and should 

be submitted on or before March 30, 

2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4876 Filed 3–6–09; 8:45 am] 

BILLING CODE 8011–01–P 


dwashington3 on PROD1PC60 with NOTICES