Federal Register / Vol. 75, No. 14 / Friday, January 22, 2010 / Notices 3767 

6 17 CFR 200.30–3(a)(29). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 59229 

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

(SR–NYSE–2009–01). 

5See Securities Exchange Act Release No. 59491 

(March 3, 2009) 74 FR 10107 (March 9, 2009) (SR– 

NYSE–2009–20); see Securities Exchange Act 

Release No. 59864 (May 5, 2009) 74 FR 22194 (May 

12, 2009) (SR–NYSE–2009–44); see Securities 

Exchange Act Release No. 60278 (July 10, 2009) 74 

FR 34615 (July 16, 2009) (SR–NYSE–2009–67); see 

Securities Exchange Act Release No. 60439 (August 

5, 2009) 74 FR 40270 (August 11, 2009) (SR–NYSE– 

2009–78) and see also Securities Exchange Act 

Release No. 60949 (November 6, 2009) 74 FR 58665 

(November 13, 2009) (SR–NYSE–2009–110). 

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

7 17 CFR 240.19b–4(f)(2). 

8Executions in the MatchPoint system occur 

when buy and sell interest in a security is entered 

on a matched basis (both buy and sell sides 

submitted together) or when interest submitted in 

the system by one user matches against contra side 

interest submitted by another user. 

9 15 U.S.C. 78a. 

Number SR–OPRA–2009–01 and should 

be submitted on or before February 12, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.6

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–1146 Filed 1–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61350; File No. SR–NYSE– 

2010–01] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Waiving All 

Transaction Fees for Shares Executed 

on the NYSE MatchPointSM System 

Until January 29, 2010 

January 14, 2010. 

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 January 

7, 2010, 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 waive all 

transaction fees for shares executed on 

the NYSE MatchPointSM (‘‘NYSE 

MatchPoint’’ or ‘‘MatchPoint’’) system, 

effective upon filing this rule change 

with the Securities and Exchange 

Commission (‘‘SEC’’ or ‘‘Commission’’) 

until January 29, 2010. The text of the 

proposed rule change is available at the 

Exchange, the Commission’s Public 

Reference Room, and http:// 

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 Exchange proposes to amend the 

NYSE’s 2010 Price List by waiving all 

transaction fees for shares executed on 

the NYSE MatchPoint system, which 

will be effective upon filing this rule 

change with the Commission until 

January 29, 2010. The Exchange is also 

eliminating the current temporary 

equity transaction fee for shares 

executed on MatchPoint, which has 

been in effect since January 2009. 

Background 

On January 7, 2009, the Exchange 

filed with the Securities and Exchange 

Commission a proposed rule change to 

adopt a temporary equity transaction fee 

for shares executed on the NYSE 

MatchPoint system, effective until 

February 28, 2009.4 This temporary 

equity transaction fee has been extended 

numerous times since the original filing 

and is currently in effect until January 

31, 2010.5 Each such filing was effective 

upon filing pursuant to Section 

19(b)(3)(A) 6 of the Act and 

subparagraph (f)(2) of Rule 19b–4.7

The current temporary equity 

transaction fee is 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 

(per share) 

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

Average daily volume of 

shares executed 

Rate 

(per share) 

Over 50,000 to 499,999 ....... .0010 

500,000 and greater ............. .0005 

The Exchange believes that a temporary 

waiver of the current transaction fees for 

all executions will induce users to enter 

more single-sided volume 8 into the 

MatchPoint system, which benefits all 

participants in MatchPoint, since it 

increases the likelihood of a match 

during the matching sessions (i.e., intraday and after hours matching sessions). 

This waiver of transaction fees will 

apply to all Exchange members that 

access MatchPoint. 

It is intended that new MatchPoint 

transaction fees will be in effect on 

February 1, 2010, after the proposed fee 

waiver terminates. The new transaction 

fees will also provide incentives for 

adding volume to the MatchPoint 

system. 

2. Statutory Basis 

The basis under the Securities 

Exchange Act of 1934 (the ‘‘Act’’) 9 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 fee 

waiver for all MatchPoint executions is 

reasonable in that it provides a 

significant incentive for users to add 

volume into the MatchPoint system. The 

fee waiver will be in effect upon filing 

the rule change with the Commission 

until January 29, 2010. Adding volume 

to the MatchPoint system will increase 

a user’s likelihood of obtaining an 

execution. Increased volume and 

trading activity will improve the overall 

market for customers. The proposed 

transaction fee waiver is also designed 

to make the system more competitive, 

which will further improve the quality 

of the market and benefit customers. 

Finally, the transaction fee waiver is 

equitable because it is available to all 

Exchange members that access the 

MatchPoint system, and it applies to all 

MatchPoint executions. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 


erowe on DSK5CLS3C1PROD with NOTICES
3768 Federal Register / Vol. 75, No. 14 / Friday, January 22, 2010 / Notices 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(2). 

12 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The FINRA TRFs are facilities used by members 

to report over-the-counter transactions in NMS 

stocks to FINRA. There are two TRFs in operation 

today: the FINRA/Nasdaq TRF and the FINRA/ 

NYSE TRF. Each TRF is operated in conjunction 

with the respective exchange ‘‘Business Member.’’ 

4See, e.g., Rule 301(b)(3)(i)(A) of Regulation ATS. 

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) 10 of the Act and 

subparagraph (f)(2) of Rule 19b–4 11

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–2010–01 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–2010–01. 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–2010–01 and should 

be submitted on or before February 12, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–1141 Filed 1–21–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61361; File No. SR–FINRA– 

2010–001] 

Self-Regulatory Organizations; 

Financial Industry Regulatory 

Authority, Inc.; Notice of Filing of 

Proposed Rule Change Relating to 

Publication of Certain Aggregate Daily 

Trading Volume Data 

January 14, 2010. 

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 6, 

2010, Financial Industry Regulatory 

Authority, Inc. (‘‘FINRA’’) 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 FINRA. 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 

FINRA has filed a proposed rule 

change relating to the publication of 

aggregate daily trading volume data for 

over-the-counter trades in NMS stocks 

that are executed within a FINRA 

member’s alternative trading system 

(‘‘ATS’’) dark pool and reported to a 

FINRA Trade Reporting Facility 

(‘‘TRF’’).3 The proposed rule change 

would amend FINRA Rule 6160 

(Multiple MPIDs for Trade Reporting 

Facility Participants) to (1) require 

members that opt to have their trading 

data published to obtain and use a 

separate Market Participant Identifier 

(‘‘MPID’’) designated exclusively for 

reporting the member’s ATS dark pool 

transactions, and (2) adopt related 

Supplementary Material. 

The text of the proposed rule change 

is available on FINRA’s Web site at 

http://www.finra.org, at the principal 

office of FINRA 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, 

FINRA 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. FINRA 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 

Some FINRA members operate ‘‘dark 

pools,’’ a type of ATS that does not 

display quotations or subscribers’ orders 

to any person or entity either internally 

within the ATS dark pool or externally 

beyond the ATS dark pool (other than 

employees of the ATS).4 Over-thecounter transactions executed within an 

ATS dark pool are reported by the ATS 

to a FINRA facility, e.g., a FINRA TRF. 


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