28668 Federal Register / Vol. 75, No. 98 / Friday, May 21, 2010 / Notices 

interested parties may send comments 

to either Agency and need not submit 

responses to both Agencies. 

Respondents are encouraged to use the 

title ‘‘Joint CFTC–SEC Advisory 

Committee’’ to facilitate the organization 

and distribution of comments between 

the Agencies. Interested parties are 

invited to submit responses to: 

Securities and Exchange Commission: 

Written comments may be submitted by 

the following methods: 

Electronic Comments 

• Use the SEC’s Internet submission 

form (http://www.sec.gov/rules/ 

other.shtml); or 

• Send an e-mail to rulecomments@sec.gov. 

Please include File No. 265–26–01 on 

the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

100 F St., NE., Washington 20549. All 

submissions should refer to File No. 

265–26–01. 

To help the SEC process and review 

your comments more efficiently, please 

use only one method. The SEC staff will 

post all comments on the SEC’s Internet 

Web site (http://www.sec.gov/rules/ 

other.shtml). Comments will also be 

available for Web site viewing and 

printing in the SEC’s Public Reference 

Room, 100 F St., NE., Washington DC 

20549, on official business days 

between the hours of 10 a.m. and 3 p.m. 

All comments received will be posted 

without change; we do not edit personal 

identifying information from your 

submissions. You should submit only 

information that you wish to make 

available publicly. 

Commodity Futures Trading 

Commission: 

• Written comments may be mailed to 

the Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1155 21st Street, NW., Washington, DC 

20581, Attention: Office of the 

Secretary; transmitted by facsimile to 

the CFTC at (202) 418–5521; or 

transmitted electronically to 

Jointcommittee@cftc.gov. Reference 

should be made to ‘‘Joint CFTC–SEC 

Advisory Committee.’’ 

FOR FURTHER INFORMATION CONTACT: 

Ronesha Butler, Special Counsel, at 

(202) 551–5629, Division of Trading and 

Markets, or Elizabeth M. Murphy, 

Committee Management Officer, at (202) 

551–5400, Securities and Exchange 

Commission, 100 F St., NE., Washington 

DC 20549, or Martin White, Committee 

Management Officer, at (202) 418–5129, 

Commodity Futures Trading 

Commission, Three Lafayette Centre, 

1155 21st Street, NW., Washington, DC 

20581. 

SUPPLEMENTARY INFORMATION: In 

accordance with Section 10(a) of the 

Federal Advisory Committee Act, 5 

U.S.C. App. 1, § 10(a), James R. Burns 

and Timothy Karpoff, each CoDesignated Federal Officer of the 

Committee, acting jointly, have 

approved publication of this notice. 

Dated: May 18, 2010. 

By the Securities and Exchange 

Commission. 

Elizabeth M. Murphy, 

Committee Management Officer. 

By the Commodity Futures Trading 

Commission. 

Martin White, 

Committee Management Officer. 

[FR Doc. 2010–12301 Filed 5–20–10; 8:45 am] 

BILLING CODE P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold an Open Meeting 

on May 26, 2010 at 10 a.m., in the 

Auditorium, Room L–002. 

The subject matter of the Open 

Meeting will be: 

Item 1: The Commission will consider 

whether to propose new Rule 613 of 

Regulation NMS that would require 

national securities exchanges and 

national securities associations to act 

jointly in developing a national market 

system plan to create, implement, and 

maintain a consolidated audit trail that 

would capture customer and order event 

information, mostly in real time, for all 

orders in NMS securities, across all 

markets, from the time of order 

inception through routing, cancellation, 

modification, or execution. 

Item 2: The Commission will consider 

a recommendation to adopt 

amendments to Rule 15c2–12 under the 

Securities Exchange Act of 1934, a rule 

pertaining to municipal securities 

disclosure. The Commission will also 

consider related interpretive guidance to 

assist brokers, dealers and municipal 

securities dealers in meeting their 

obligations under the antifraud 

provisions of the federal securities laws. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact: 

The Office of the Secretary at (202) 

551–5400. 

Dated: May 18, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–12369 Filed 5–19–10; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meetings 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold Closed Meetings 

on Tuesday, May 25, 2010 and 

Thursday, May 27, 2010 at 2 p.m., 

respectively. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meetings. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matters at the Closed 

Meetings. 

Commissioner Aguilar, as duty 

officer, voted to consider the items 

listed for the Closed Meetings in a 

closed session, and determined that no 

earlier notice of thereof was possible. 

The subject matter of the Closed 

Meeting scheduled for Tuesday, May 25, 

2010 will be: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

An adjudicatory matter; and 

Other matters relating to enforcement 

proceedings. 

The subject matter of the Closed 

Meeting scheduled for Thursday, May 

27, 2010 will be: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

Consideration of amicus participation; 

and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have 


emcdonald on DSK2BSOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 98 / Friday, May 21, 2010 / Notices 28669 

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

2 17 CFR 240.19b–4. 

3For a complete description of Phlx XL II, see 

Securities Exchange Act Release No. 59995 (May 

28, 2009), 74 FR 26750 (June 3, 2009) (SR–Phlx– 

2009–32). The instant proposed fees will apply only 

to option orders entered into, and routed by, the 

Phlx XL II system. 

4See Securities Exchange Act Release No. 59995 

(May 28, 2009), 74 FR 26750 (June 3, 2009) (SR– 

Phlx–2009–32). 

5The Exchange defines a ‘‘professional’’ as any 

person or entity that (i) is not a broker or dealer in 

securities, and (ii) places more than 390 orders in 

listed options per day on average during a calendar 

month for its own beneficial account(s) (hereinafter 

‘‘Professional’’). 

6See SR–ISE–2010–41. 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(4). 

9 15 U.S.C. 78s(b)(3)(A)(ii). 

10 17 CFR 240.19b–4(f)(2). 

been added, deleted or postponed, 

please contact: 

The Office of the Secretary at (202) 

551–5400. 

Dated: May 19, 2010. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–12366 Filed 5–19–10; 4:15 pm] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62105; File No. SR–Phlx– 

2010–71] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX, Inc.; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Professional Routing Fees 

May 13, 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 May 7, 

2010, NASDAQ OMX PHLX, Inc. 

(‘‘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 amend its 

fees governing pricing for Exchange 

members using the Phlx XL II system,3

for routing standardized equity and 

index option professional orders to 

away markets for execution. 

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, at the 

Commission’s Public Reference Room, 

and on the Commission’s Web site at 

http://www.sec.gov. 

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 recoup costs that the 

Exchange incurs for routing and 

executing professional orders in equity 

and index options to away markets. 

In May 2009, the Exchange adopted 

Rule 1080(m)(iii)(A) to establish Nasdaq 

Options Services LLC (‘‘NOS’’), a 

member of the Exchange, as the 

Exchange’s exclusive order router.4 NOS 

is utilized by the Phlx XL II system 

solely to route orders in options listed 

and open for trading on the Phlx XL II 

system to destination markets. 

Currently, the Exchange’s Fee 

Schedule includes Routing Fees for 

customer and professional orders. The 

Exchange currently assesses a fee of $.06 

per contract in all professional 5 option 

orders that are routed to International 

Securities Exchange, LLC (‘‘ISE’’). 

The Exchange proposes to amend the 

current fee of $.06 per contract that is 

assessed for routing professional orders 

to ISE in all options to $.24 per contract. 

The Exchange is proposing this charge 

in order to recoup clearing and 

transaction charges which are incurred 

by the Exchange when orders are routed 

to ISE. Each destination market’s 

transaction charge varies and there is a 

standard clearing charge for each 

transaction incurred by the Exchange. 

The Exchange proposes this fee change 

to account for an increase in cost for 

routing to ISE.6

As with all fees, the Exchange may 

adjust these Routing Fees in response to 

competitive conditions by filing a new 

proposed rule change. While changes to 

the Exchange’s Fee Schedule pursuant 

to this proposal are effective upon filing, 

the Exchange has designated this 

proposal to be operative for trade date 

May 10, 2010. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its schedule of fees 

is consistent with Section 6(b) of the 

Act 7 in general, and furthers the 

objectives of Section 6(b)(4) of the Act 8

in particular, in that it is an equitable 

allocation of reasonable fees and other 

charges among Exchange members. The 

Exchange believes that this fee is 

equitable because it would be equally 

assessed on all professional orders 

routed to ISE. The Exchange also 

believes that this fee is reasonable 

because the Exchange is seeking to 

recoup the costs incurred by the 

Exchange to route professional orders to 

ISE on behalf of its members. 

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 9 and paragraph 

(f)(2) of Rule 19b–4 10 thereunder. 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, 


emcdonald on DSK2BSOYB1PROD with NOTICES