Federal Register / Vol. 75, No. 198 / Thursday, October 14, 2010 / Notices 63231 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Advices are administered as part of the 

Exchange’s minor rule plan; the Exchange proposes 

to remove Advice A–11 from the minor rule plan. 

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

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

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

7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to give the Commission written notice of its intent 

to file the proposed rule change, along with a brief 

description and text of the proposed rule change, 

at least five business days prior to the date of filing 

of the proposed rule change, or such shorter time 

as designated by the Commission. Phlx has satisfied 

this requirement. 

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–NASDAQ–2010–126 and 

should be submitted on or before 

November 4, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–25863 Filed 10–13–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63064; File No. SR–Phlx– 

2010–136] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX, Inc.; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Rule 1015 

October 7, 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 

September 30, 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 delete Rule 

1015, Execution Guarantees (with the 

exception of subparagraph (a)(vi)), 

which is outdated and should have been 

deleted previously. The Exchange also 

proposes to delete Options Floor 

Procedure Advice (‘‘Advice’’) A–11, 

which contains corresponding language. 

The Exchange proposes to move 

subparagraph (a)(vi) of both Rule 1015 

and Advice A–11 to Rule 1063.02, 

which governs floor broker activity. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://www.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 update and correct the rules 

by deleting two outdated rules. 

Generally, the execution of orders is 

now governed by Rules 1080 and 1082, 

among others. Rule 1015 refers to 

execution guarantees, disseminated size 

and ‘‘trade or fade’’ provisions that 

together have become obsolete due to 

the combination of the adoption of firm 

quote obligations in options and 

increased automation; specifically, the 

disseminated size is no longer an 

artificial size that requires this rule to 

apportion responsibility to ‘‘floor 

traders’’ to reach that minimum size. 

With the advent of an actual size in 

options along with automatic execution 

at the displayed size, these provisions 

became outdated. 

With respect to Advice A–11, it tracks 

the language of Rule 1015. Historically, 

Advices replicated the provisions of the 

Exchange’s rules that were most 

pertinent for the trading floor 

community to keep handy, in lieu of the 

large, unwieldy rulebook; the Exchange 

adopted, for many years, both rules and 

advices that contained nearly identical 

language where the advice was the 

subject of a fine schedule under the 

Exchange’s minor rule plan in order for 

the trading floor to have easy access to 

these provisions (which the Exchange 

printed and distributed) and in order for 

those persons who administered fines to 

have easy access to consult the 

applicable fine schedules.3

The Exchange proposes to move Rule 

1015(a)(vi) to Rule 1063.02 because it 

governs floor broker behavior and 

continues to be relevant. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 4 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 5

in particular, in that it is designed to 

promote just and equitable principles of 

trade, 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, by 

deleting obsolete provisions and 

generally providing clarity to the rules. 

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 

Because the foregoing proposed rule 

change does not: (1) Significantly affect 

the protection of investors or the public 

interest; (2) impose any significant 

burden on competition; and (3) become 

operative for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

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

of the Act 6 and Rule 19b–4(f)(6) 

thereunder.7


jlentini on DSKJ8SOYB1PROD with NOTICES
63232 Federal Register / Vol. 75, No. 198 / Thursday, October 14, 2010 / Notices 

8 17 CFR 200.30–3(a)(12). 

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. 62791 

(August 30, 2010), 75 FR 54411 (September 7, 2010) 

(File No. SR–NYSE–2010–60). 

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend 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. If the 

Commission takes such action, the 

Commission shall institute proceedings 

to determine whether the proposed rule 

should be approved or disapproved. 

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–2010–136 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–Phlx–2010–136. 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 

available publicly. All submissions 

should refer to File No. SR–Phlx–2010– 

136 and should be submitted on or 

before November 4, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–25820 Filed 10–13–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63057; File No. SR–NYSE– 

2010–70] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by New York 

Stock Exchange LLC To Amend the 

Exchange Price List 

October 6, 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 

September 30, 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 and II 

below, which Items have been prepared 

by the self-regulatory 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 amend its 

2010 Price List to assess monthly fees 

for the use of all ports that provide 

connectivity to its equity trading 

systems. The monthly fee for ports will 

be $100 per pair per month up to five 

pairs, then $500 for each additional five 

pairs. In its table of credits applicable to 

Supplemental Liquidity Providers 

(‘‘SLPs’’), the Exchange is modifying 

language referencing the SLP quoting 

requirement to reflect a recent rule filing 

that changed the standard from 3% to 

10% of the regular trading day in any 

calendar month in order to receive a 

financial rebate and also added a 

volume requirement. The amended 

pricing will take effect on October 1, 

2010. The text of the proposed rule 

change is available at the Exchange, at 

http://www.nyse.com, 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 

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 its 

2010 Price List to assess monthly fees 

for the use of all ports that provide 

connectivity to its equity trading 

systems. A number of other markets 

already charge such fees, but the 

Exchange has not previously done so. 

The level of activity with respect to a 

particular port will not affect the 

assessment of monthly fees, so even if 

a particular port that is available to a 

participant is not used, the participant 

will still be billed for that port. The 

monthly fee for ports will be $100 per 

pair per month up to five pairs, then 

$500 for each additional five pairs. For 

example, the fee for seven pairs of ports 

will be $1,000 per month. Billing for 

ports will be based on the number of 

ports on the third business day prior to 

the end of the month. 

In its table of credits applicable to 

SLPs, the Exchange is modifying 

language referencing the SLP quoting 

requirement to reflect a recent rule filing 

that changed the standard from 3% to 

10% of the regular trading day in any 

calendar month in order to receive a 

financial rebate and also added a 

volume requirement.4

These changes are intended to be 

effective immediately for all 

transactions beginning October 1, 2010. 


jlentini on DSKJ8SOYB1PROD with NOTICES