61180 Federal Register / Vol. 73, No. 200 / Wednesday, October 15, 2008 / Notices 

10 17 CFR 200.30–3(a)(12). 

11On September 25, 2008, the SEC approved 

proposed rule change SR–FINRA–2008–021, in 

which FINRA proposed, among other things, to 

adopt the NASD Marketplace Rules (the NASD Rule 

4000 through 7000 Series) as the FINRA Rule 6000 

through 7000 Series in the Consolidated FINRA 

Rulebook. See Securities Exchange Act Release No. 

58643 (September 25, 2008), 73 FR 57174 (October 

1, 2008) (Order Approving SR–FINRA–2008–021; 

SR–FINRA–2008–022; SR–FINRA–2008–026; SR– 

FINRA–2008–028 and SR–FINRA–2008–029). As 

part of that proposed rule change, FINRA adopted 

the provisions of NASD Rule 6660 as new FINRA 

Rule 6460 relating to trading and quotation halts in 

OTC Equity Securities. 

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

2 17 CFR 240.19b–4. 

3 15 U.S.C. 78s(b)(1). 

4 17 CFR 240.19b–4. 

5The $150 Tether Monthly Service Fee will 

continue to be assessed. 

6Exchange members, however, may still trade 

foreign currency options. The Exchange currently 

has a separate fee schedule for U.S. dollar-settled 

foreign currency options. 

7There is no fee to access the Phlx CCH Guide 

on-line. 

2008–049 and should be submitted on 

or before November 5, 2008. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Acting Secretary. 

Exhibit 1 

Attn: Trading and Market Making/Legal 

and Compliance/Operations/Systems 

Uniform Practice Advisory (UPC # 

XXX–2008) October 6, 2008 

Exchange Circuit Breaker Declaration— 

FINRA OTC Equity Market Trigger 

FINRA Rule 6460 (NASD Rule 6660) 

Financial Industry Regulatory 

Authority, Inc. (FINRA) members are 

hereby provided notice that upon 

FINRA’s receipt of actual notification 

(via the NMS consolidated data plans or 

otherwise) that a market-wide trading 

halt has been declared for NMS stocks, 

due to a percentage-based circuit 

breaker having been triggered, FINRA 

will exercise its authority under FINRA 

Rule 6460(a)(3) (NASD Rule 6660(a)(3)) 

to halt quoting and trading activity in 

the market for OTC Equity securities (as 

defined in the FINRA Rule 6400 Series 

(NASD Rule 6600 Series)).11 Questions 

regarding this notice should be directed 

to: FINRA Operations, 866–776–0800. 

[FR Doc. E8–24377 Filed 10–14–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58755; File No. SR–Phlx– 

2008–71] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by the 

NASDAQ OMX PHLX, Inc. Relating to 

Deleting Unnecessary Fees 

October 8, 2008. 

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 October 

1, 2008, the 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, pursuant to Section 

19(b)(1) of the Act 3 and Rule 19b–4 

thereunder,4 proposes to update its fee 

schedules by deleting fees that the 

Exchange has deemed no longer 

necessary. 

Specifically, the Exchange proposes to 

delete its Summary of Physical Delivery 

Currency Option Charges fee schedule. 

The Exchange also proposes to delete 

the following fees from Appendix A of 

its fee schedule: Foreign Currency User 

Fee; Transfer Fee for Foreign Currency 

Options (‘‘FCO’’) Participant; Direct 

Wire to the Floor; Wireless Telephone 

System; Tether Initial Connectivity 

Fee;5 Execution Services/ 

Communication Charge; Phlx CCH Wall 

Street (‘‘CCH’’) Guide; Option Report 

Service (New York and Chicago); 

Instinet, Reuters Equipment; and the 

Hyperfeed fee. 

While changes to the fee schedule 

pursuant to this proposal are effective 

upon filing, the Exchange has 

designated these changes to become 

effective on October 1, 2008. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://www.phlx.com/regulatory/ 

reg_rulefilings.aspx. 

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 update the Exchange’s fee 

schedule to delete fees that the 

Exchange believes are no longer 

necessary. Specifically, the Exchange no 

longer provides a trading venue for 

physical delivery FCOs. Thus, the 

Summary of Physical Delivery Currency 

Option Charges no longer applies to 

products traded at the Exchange.6

Additionally, the Exchange no longer 

offers FCO participations. Therefore, the 

Foreign Currency User Fee and the 

Transfer Fee for FCO Participants are no 

longer necessary. 

For business purposes, the Exchange 

has determined not to assess the 

following fees: Direct Wire to the Floor; 

Wireless Telephone System; and 

Execution Service/Communication 

Charges. These fees, which relate 

generally to telephone access to the 

floor, are not deemed necessary at this 

time. Additionally, the Exchange 

believes the Tether Initial Connectivity 

Fee, which refers to establishing a 

hardwire connection to an existing 

communication network on the trading 

floor, is no longer necessary at this time. 

Currently, there is not a significant 

demand for this type of telephone 

access to the floor or for establishing a 

hardwire connection to an existing 

communication network on the trading 

floor. 

With respect to the Phlx CCH Guide, 

which includes Phlx By-Laws and rules, 

the Exchange will no longer supply 

members with a hard copy of the Phlx 

CCH Guide because the guide is now 

available on-line through the Phlx Web 

site.7 The fees relating to the Option 

Report Service (New York and Chicago), 

Instinet, Reuters Equipment, and 

Hyperfeed are not required because 

these services are no longer being 

offered by the Exchange. 

While changes to the fee schedule 

pursuant to this proposal are effective 

upon filing, the Exchange has 

designated these changes to become 

effective on October 1, 2008. 


jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 73, No. 200 / Wednesday, October 15, 2008 / Notices 61181 

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

9 15 U.S.C. 78f(b)(4). 

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

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. 

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

4 17 C.F.R. 240.19b–4(f)(2). 

5Changes are marked to the rule text that appears 

in the electronic NASDAQ Manual found at http: 

//nasdaqomx.cchwallstreet.com. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its schedule of fees 

is consistent with Section 6(b) of the 

Act 8 in general, and furthers the 

objectives of Section 6(b)(4) of the Act 9

in particular, in that it is an equitable 

allocation of reasonable fees and other 

charges among Exchange members. The 

Exchange believes that updating its fee 

schedules to delete the above-referenced 

fee will more accurately reflect the fees 

that are currently assessed by the 

Exchange, which should, in turn, help 

to eliminate any member confusion as to 

which fees apply. Additionally, 

members who were assessed any of the 

applicable fees set forth above, such as 

the fees relating to telephone access to 

the floor, should benefit financially 

from the elimination of these fees. 

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 10 and 

paragraph (f)(2) of Rule 19b–4 11

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, 

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–Phlx–2008–71 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–Phlx–2008–71. 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 will also be available 

for inspection and copying at the 

principal office of the self-regulatory 

organization. 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– 

2008–71 and should be submitted on or 

before November 5, 2008. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–24365 Filed 10–14–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58752; File No. SR– 

NASDAQ–2008–080] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Regarding 

Fees for Access to the Clearly 

Erroneous Functionality of the Nasdaq 

Regulation Reconnaissance Service 

October 8, 2008. 

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 October 

6, 2008, 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. Pursuant to 

Section 19(b)(3)(A)(ii) of the Act 3 and 

Rule 19b–4(f)(2) thereunder,4 Nasdaq 

has designated this proposal as 

establishing or changing a due, fee, or 

other charge, which renders the 

proposed rule change effective upon 

filing. 

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 

Nasdaq proposes to establish fees for 

access to the Clearly Erroneous 

functionality provided by the Nasdaq 

Regulation Reconnaissance Service. 

The text of the proposed rule change 

is below. Proposed new language is in 

italics.5

* * * * * 

7041. Nasdaq Regulation 

Reconnaissance Service 

(a) No change. 

(b) The Clearly Erroneous Viewer will 

be available to non-Regulation 

Reconnaissance Service subscribers for 

a subscription fee of $100 per MPID, per 

month. 

* * * * * 


jlentini on PROD1PC65 with NOTICES