Federal Register / Vol. 75, No. 110 / Wednesday, June 9, 2010 / Notices 32831 

20See supra notes 10 and 11 and accompanying 

text. 

21The Commission notes that it does not regulate 

the market for the futures in which the Fund plans 

to take positions, which is the responsibility of the 

CFTC. The CFTC has the authority to set limits on 

the positions that any person may take in futures 

on commodities. These limits may be directly set 

by the CFTC, or by the markets on which the 

futures are traded. The Commission has no role in 

establishing position limits on futures in 

commodities, even though such limits could impact 

a commodity-based exchange-traded product that is 

under the jurisdiction of the Commission. 

22 15 U.S.C. 78f(b)(2). 

23 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). 

4 17 CFR 240.19b–4(f)(2). 

5The DEA Examination Fee is assessed against 

those Participants for which the Exchange is the 

Designated Examining Authority pursuant to 

Section 17 of the Exchange Act and Rule 17d–1 

thereunder. 

6 15 U.S.C. 78f. 

7 15 U.S.C. 78f(b)(4) 

8 15 U.S.C. 78s(b)(3)(A)(ii). 

9 17 CFR 240.19b–4(f)(2). 

a transaction; and (f) trading 

information. 

(6) A minimum of 100,000 Shares will 

be outstanding as of the start of trading 

on the Exchange. 

(7) With respect to the application of 

Rule 10A–3 under the Act, the Trust 

will rely on the exception contained in 

Rule 10A–3(c)(7).20

This approval order is based on the 

Exchange’s representations.21

For the foregoing reasons, the 

Commission finds that the proposed 

rule change is consistent with the Act 

and the rules and regulations 

thereunder applicable to a national 

securities exchange. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,22 that the 

proposed rule change (SR–NYSEArca– 

2010–22) be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.23

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–13826 Filed 6–8–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62215; File No. SR–CHX– 

2010–11] 

Self-Regulatory Organizations; The 

Chicago Stock Exchange, Inc.; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change To Change 

Its Transaction Fees and Rebates to 

Exchange Participants for SRO Fees 

and DEA Examinations 

June 3, 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 June 1, 

2010, the Chicago Stock Exchange, Inc. 

(‘‘CHX’’ or ‘‘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 Exchange. The CHX has filed the 

proposal pursuant to Section 19(b)(3)(A) 

of the Act 3 and Rule 19b–4(f)(2) 

thereunder,4 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 

The CHX proposes to amend its 

Schedule of Participant Fees and 

Assessments (the ‘‘Fee Schedule’’), 

effective June 1, 2010, to change its 

transaction fees and rebates to Exchange 

Participants for SRO Fees and DEA 

Examinations. The text of this proposed 

rule change is available on the 

Exchange’s Web site at http:// 

www.chx.com/rules/proposed_rules.htm 

and in the Commission’s Public 

Reference Room, 100 F Street, NE., 

Washington, DC 20549. 

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 

CHX included statements concerning 

the purpose of and basis for the 

proposed rule changes and discussed 

any comments it received regarding the 

proposal. The text of these statements 

may be examined at the places specified 

in Item IV below. The CHX 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 

Chane 

1. Purpose 

Through this filing, the Exchange 

would amend its Fee Schedule to 

modify the fees charged to CHX 

Participants which are designed to 

offset, in part, the expenses associated 

with the Exchange’s performance of its 

regulatory oversight function. 

The Exchange proposes to increase its 

SRO Fee under Section B of the Fee 

Schedule from $250 per month to $500 

per month. The Exchange also proposes 

to reduce the DEA Examinations Fee 

under Section J.4. of the Fee Schedule 

from $1000 per month to $800 per 

month. Since the SRO Fee is charged to 

all Exchange Participants and the DEA 

Examinations Fee is only charged to a 

subset of Participants,5 the proposed 

changes should result in a net revenue 

increase. 

As part of a planned enhancement to 

its ongoing regulatory program, the 

Exchange plans on increasing its 

expenditures for surveillance and 

oversight in the near future. The 

proposed fee changes would provide 

additional revenue to fund such 

increases and also distribute those costs 

in a more even manner across all 

Participants, which the Exchange 

believes is fair and equitable. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act 6 in general, and 

furthers the objectives of Section 6(b)(4) 

of the Act 7 in particular, in that it 

provides for the equitable allocation of 

reasonable dues, fees and other charges 

among its members. Among other 

things, the change to the fee schedule 

would increase revenue to the Exchange 

to fund enhancements to its regulatory 

program and allocate costs more evenly 

across the entire population of 

Participants. 

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 Regarding 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 8 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder 9 because it establishes or 

changes a due, fee, or other charge 

applicable only to a member imposed by 

the self-regulatory organization. 


erowe on DSK5CLS3C1PROD with NOTICES
32832 Federal Register / Vol. 75, No. 110 / Wednesday, June 9, 2010 / Notices 

10 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). 

4 17 CFR 240.19b–4(f)(2). 5 15 U.S.C. 78f. 

Accordingly, the proposal is effective 

upon Commission receipt of the filing. 

At any time within 60 days of the filing 

of such 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 purpose 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–CHX–2010–11 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–CHX–2010–11. 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 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 

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 

publicly available. All submissions 

should refer to File Number SR–CHX– 

2010–11 and should be submitted on or 

before June 30, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–13828 Filed 6–8–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62214; File No. SR–CHX– 

2010–12] 

Self-Regulatory Organizations; The 

Chicago Stock Exchange, Inc.; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change To Reduce 

the Amount of Its Trading Permit 

Cancellation Fee 

June 3, 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 June 1, 

2010, the Chicago Stock Exchange, Inc. 

(‘‘CHX’’ or ‘‘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 Exchange. The CHX has filed the 

proposal pursuant to Section 19(b)(3)(A) 

of the Act 3 and Rule 19b–4(f)(2) 

thereunder,4 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 

The CHX proposes to amend its 

Schedule of Participant Fees and 

Assessments (the ‘‘Fee Schedule’’), 

effective June 1, 2010, to reduce the 

amount of its Trading Permit 

cancellation fee. The text of this 

proposed rule change is available on the 

Exchange’s Web site at http:// 

www.chx.com/rules/proposed_rules.htm 

and in the Commission’s Public 

Reference Room, 100 F Street, NE., 

Washington, DC 20549. 

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 

CHX included statements concerning 

the purpose of and basis for the 

proposed rule changes and discussed 

any comments it received regarding the 

proposal. The text of these statements 

may be examined at the places specified 

in Item IV below. The CHX 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 

Through this filing, the Exchange 

would amend its Fee Schedule to 

reduce the amount of its Trading Permit 

cancellation fee. 

Each Exchange participant must 

maintain a valid CHX Trading Permit. In 

essence, the Trading Permit is the 

license permitting a Participant to 

transmit orders to the Exchange and 

otherwise avail itself of the benefits of 

Exchange membership. Trading Permits 

are issued for a term of one year. When 

a Participant wishes to terminate its 

status as such, the Exchange currently 

imposes a termination fee of $2,400 or, 

if less, $600 per month for the 

remainder of the one-year term. By this 

proposal, the Exchange seeks to reduce 

the maximum charge for terminating a 

permit from $2,400 to $1,200 since the 

expenses of processing termination 

applications do not appear to justify the 

larger figure. Moreover, the Exchange 

notes that the number of trading permits 

which can be issued is limited only by 

the number of eligible United States 

broker-dealers and that, therefore, it is at 

least possible to replace any lost permitrelated revenue by the subsequent 

addition of another Participant firm. 

The Exchange also believes that some 

smaller firms might be more likely to 

apply for a Trading Permit if they did 

not have a larger termination fee to 

consider if they subsequently reversed 

their decision. We are also proposing to 

remove unnecessary language in the Fee 

Schedule relating to Trading Permit 

charges applicable to the time period 

prior to October 2006. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act 5 in general, and 


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