Federal Register / Vol. 74, No. 66 / Wednesday, April 8, 2009 / Notices 16027 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4(f)(3). 

4Changes are marked to the rule text that appears 

in the electronic manual of Nasdaq found at http:// 

nasdaq.cchwallstreet.com/. 

5 15 U.S.C. 78f. 

6 15 U.S.C. 78f(b)(5). 

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

8 17 CFR 240.19b–4(f)(3). 

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, 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–Phlx– 

2009–24 and should be submitted on or 

before April 29, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–7865 Filed 4–7–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59673; File No. SR– 

NASDAQ–2009–031] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Regarding a 

Clerical Change to Nasdaq Rules 

April 1, 2009. 

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 March 26, 

2009, The NASDAQ Stock Market LLC 

(‘‘Nasdaq’’), 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 Nasdaq. Nasdaq proposes to 

make a clerical correction to the Nasdaq 

rulebook under Rule 19b–4(f)(3) under 

the Act,3 which renders the proposal 

effective upon filing with the 

Commission. 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 the Substance 

of the Proposed Rule Change 

Nasdaq proposes to make clerical 

corrections to the Nasdaq rulebook. 

Nasdaq proposes to implement the 

proposed rule change immediately. 

The text of the proposed rule change 

is available on Nasdaq’s Web site http:// 

nasdaq.cchwallstreet.com, at Nasdaq’s 

principal office, and at the 

Commission’s Public Reference Room. 

Proposed new language is in italics; 

proposed deletions are in brackets.4

* * * * * 

7048. [7047.] Nasdaq Custom Data 

Feeds 

No Change. 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

Nasdaq 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. Nasdaq 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 

Nasdaq proposes to make a clerical 

correction to the Nasdaq rulebook. 

Specifically, Nasdaq proposes to 

renumber Nasdaq Rule 7047 to Nasdaq 

Rule 7048. Nasdaq is renumbering this 

rule because Nasdaq has filed another 

proposed rule change that necessitates a 

renumbering of the existing Rule 7047. 

Nasdaq is making no changes to Rule 

7047, other than to change the rule 

number to 7048. 

2. Statutory Basis 

Nasdaq believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,5 in 

general, and with Section 6(b)(5) of the 

Act,6 in particular, in that the proposal 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, to 

remove impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest. The proposed rule 

change makes a minor clerical change to 

renumber an existing Nasdaq rule. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Nasdaq does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Pursuant to Section 19(b)(3)(A) of the 

Act 7 and Rule 19b–4(f)(3) thereunder,8

Nasdaq has designated this proposal as 

one that is concerned solely with the 

administration of the self-regulatory 

organization. Accordingly, Nasdaq 

believes that its proposal should become 

immediately effective. 

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–NASDAQ–2009–031 on the 

subject line. 


rwilkins on PROD1PC63 with NOTICES
16028 Federal Register / Vol. 74, No. 66 / Wednesday, April 8, 2009 / Notices 

9 17 CFR 200.30–3(a)(12). 

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

2Securities Exchange Act Release No. 59388 (Feb. 

11, 2009), 74 FR 7714. 

3References to MPs also cover other payment 

obligations of MMI issuers such as periodic 

payments and periodic interest payments. 

4 If the IPA refuses to pay, then DTC follows its 

Defaulting Issuer procedures, which include 

devaluing the collateral value of all of the 

defaulting issuer’s MMI to zero, reversing all of the 

issuer’s issuances and maturities processed that 

day, notifying DTC participants of the default, and 

blocking all further issuances by the issuer from 

entering DTC. If an IPA then contacts DTC to 

reverse the refusal to pay instruction, DTC undoes 

all the actions it took under its Defaulting Issuer 

procedures. 

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–NASDAQ–2009–031. 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 Nasdaq. 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–2009–031 and 

should be submitted on or before April 

29, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–7866 Filed 4–7–09; 8:45 am] 

BILLING CODE 1080–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59627; File No. SR– 

NYSEAmex–2009–02] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC Formally Adopting and 

Codifying Its Wireless Data 

Communications Initiatives 

April 2, 2009. 

Correction: In FR Document No. E9– 

7291, published on Wednesday, April 1, 

2009, beginning on page 14834, third 

column, first paragraph, fifth line, the 

name of the exchange is corrected to 

read ‘‘NYSE Amex LLC’’. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–7973 Filed 4–7–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59695; File No. SR–DTC– 

2009–02] 

Self-Regulatory Organizations; The 

Depository Trust Company; Order 

Approving Proposed Rule Change To 

Implement a Maturity Presentment 

Pend Function to Replace the Maturity 

Presentment Contingency System 

April 2, 2009. 

I. Introduction 

On January 13, 2009, The Depository 

Trust Company (‘‘DTC’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) proposed rule change 

SR–DTC–2009–02 pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’).1 The proposed rule 

change was published for comment in 

the Federal Register on February 19, 

2009.2 No comment letters were 

received on the proposal. This order 

approves the proposal. 

II. Description 

The proposed rule change implements 

a Maturity Presentment Pend function 

(‘‘IPA MP Pend Function’’) that will 

replace the Maturity Presentment 

Contingency System. 

A. Current MMI Maturity Payment 

Procedure: Maturity Presentment 

Contingency System 

Currently, as part of DTC’s Money 

Market Instrument (‘‘MMI’’) program 

maturity payment procedures, DTC 

sweeps maturing MMI positions from 

investors’ custodians accounts and 

generates Maturity Presentments 

(‘‘MPs’’) 3 to the designated Issuing 

Agent or Paying Agent’s (collectively, 

‘‘IPA’’) accounts. DTC debits the IPA’s 

account by the amount of the maturity 

proceeds for settlement that day and 

credits the same amount to the 

investor’s custodian account for 

payment that day. Because MPs are 

processed against an IPA’s DTC account, 

IPAs may refuse to pay for a specific 

issuer’s MP in the event that the issuer 

defaults on its obligation to the IPA. 

DTC allows IPAs to enter refusal to pay 

notifications through the Participant 

Terminal System (‘‘PTS’’) until 3 p.m. 

Eastern Time on the date of maturity.4

Under extraordinary circumstances or 

in times of unusual market stress, DTC 

may use the Maturity Presentment 

Contingency System (‘‘MPCS’’) after 

consultation with the Commission on 

the days following a disaster to allow 

IPAs to review and manually release 

MPs. IPAs are able to release MPs for 

processing on a CUSIP or issuer 

acronym level basis. At the close of 

settlement, MPs that have not been 

released are rolled into the next 

business day’s processing queue for 

presentation along with that day’s 

scheduled obligations. This process 

continues until all maturities are funded 

and the IPA releases the MP, the IPA 

notifies DTC of its refusal to pay, or the 

MPCS contingency procedure is 

terminated. 

B. Proposed MMI Maturity Payment 

Procedure: Maturity Presentment Pend 

Function 

DTC is enhancing its systems in order 

to provide IPAs the ability to monitor 

their credit exposure to MMI issuers. 

DTC’s IPA MP Pend Function will 

enable IPAs to review and manually 

release MPs in the ordinary course of 

business. IPAs will have the ability to 

set the pend request anytime prior to the 

MP sweep or at any point during the 

day for unknown rate maturities, based 

on acronym, product type, or the issuer 

MMI base CUSIP number. Each day by 


rwilkins on PROD1PC63 with NOTICES