64368 Federal Register / Vol. 75, No. 201 / Tuesday, October 19, 2010 / Notices 

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

2 17 CFR 240.19b–4. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

James E. Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2010–26304 Filed 10–18–10; 8:45 am] 

BILLING CODE 8025–01–P 

SMALL BUSINESS ADMINISTRATION 

SBA North Florida District Advisory 

Council 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice of open Federal advisory 

committee meeting. 

SUMMARY: The SBA is issuing this notice 

to announce the location, date, time, 

and agenda for the next meeting of the 

SBA North Florida District Advisory 

Council. The meeting will be open to 

the public. 

DATES: The meeting will be held on 

Tuesday, November 16 from 11:30 a.m. 

to 2 p.m. Eastern Standard Time. 

ADDRESSES: The meeting will be held at 

Sabore: 13005 SW 1st Rd; Suite 129, 

Newberry, FL 32669. 

SUPPLEMENTARY INFORMATION: Pursuant 

to section 10(a)(2) of the Federal 

Advisory Committee Act (5 U.S.C., 

Appendix 2), SBA announces the 

meeting of the SBA North Florida 

District Advisory Council. The SBA 

North Florida District Advisory Council 

is tasked with providing advice and 

opinions to SBA regarding the 

effectiveness of and need for SBA 

programs, particularly within North 

Florida and for listening to what is 

currently happening in the Florida 

small business community. 

The purpose of the meeting is to 

discuss with the council the current 

status of small business across North 

Florida and to discuss the agency status 

especially in regards to the passing of 

the jobs bill. The agenda includes: An 

overview of the status of the SBA as an 

agency from Wilfredo J. Gonzalez, SBA 

District Director as well as a luncheon/ 

meeting to hear from the members of the 

council and to hear from the SBA staff 

on SBA updates for the District. 

FOR FURTHER INFORMATION CONTACT: The 

meeting is open to the public however 

advance notice of attendance is 

requested. Anyone wishing to attend 

and/or make a presentation to the SBA 

North Florida District Advisory Council 

must contact Lola Kress by November 

9th, 2010, by fax or email in order to be 

placed on the agenda. Lola Kress, 

Business Development Specialist, SBA 

North Florida District Office, 

lola.kress@sba.gov, (904) 443–1933, fax 

(202) 481–4188. 

Additionally, if you need 

accommodations because of a disability 

or require additional information, please 

contact Lola Kress, Business 

Development Specialist, SBA North 

Florida District Office, 

lola.kress@sba.gov, (904) 443–1933. 

Dan Jones, 

SBA Committee Management Officer. 

[FR Doc. 2010–26305 Filed 10–18–10; 8:45 am] 

BILLING CODE 8025–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63072; File No. SR– 

NYSEAmex–2010–97] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC Amending the Exchange 

Price List 

October 7, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that, on October 

1, 2010, NYSE Amex LLC. (‘‘NYSE 

Amex’’ 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 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 

2010 Price List for equities to amend the 

fees charged for taking liquidity and the 

rebates for providing liquidity for 

Nasdaq securities traded pursuant to 

unlisted trading privileges and 

incorporate an enhanced rebate for 

larger displayed orders in trades above 

$5.00 in lieu of the standard rebate, as 

well as assess monthly fees for the use 

of all ports that provide connectivity to 

its equity trading systems. 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 5% of 

the regular trading day in any calendar 

month in order to receive a financial 

rebate. The amended pricing will take 

effect on October 1, 2010. The text of the 

proposed rule change is available on the 

Exchange’s Web site at http:// 

www.nyse.com, at the Exchange’s 

principal office, on the Commission’s 

Web site at http://www.sec.gov, 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, 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend its 

2010 Price List for equities to modify 

the structure of (i) fees charged for 

taking liquidity and (ii) rebates for 

adding liquidity, to market participants, 

Supplemental Liquidity Providers 

(‘‘SLPs’’) and Designated Market Makers 

(‘‘DMMs’’), for Nasdaq securities traded 

pursuant to unlisted trading privileges 

whose share price is $1.00 or more. 

Currently, market participants, SLPs 

and DMMs are charged a fee of $0.0013 

per share for orders in Nasdaq securities 

traded pursuant to unlisted trading 

privileges that take liquidity. Under the 

proposal, the fee will be $0.0023 per 

share for orders that take liquidity. 

Market participants, other than DMMs 

and SLPs, that provide liquidity in 

Nasdaq securities traded pursuant to 

unlisted trading privileges are currently 

paid a rebate of $0.0019 per share. 

Under the proposal, such market 

participants will be paid a rebate of 

$0.0030 per share. 

Currently, for orders in Nasdaq 

securities traded pursuant to unlisted 

trading privileges that provide liquidity, 

DMMs, and SLPs that meet their quoting 

requirements pursuant to Rule 107B, are 

paid a rebate of $0.0021 per share, and 

SLPs that do not meet their quoting 

requirements are paid a rebate of 

$0.0019 per share for orders that 

provide liquidity. Under the proposal, 

the rebate will be $0.0031 per share for 

mstockstill on DSKH9S0YB1PROD with NOTICES

Federal Register / Vol. 75, No. 201 / Tuesday, October 19, 2010 / Notices 64369 

3See Securities Exchange Act Release No. 62792 

(August 30, 2010), 75 FR 54407 (September 7, 2010) 

(File No. SR–NYSEAmex–2010–85). 

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

5 15 U.S.C. 78f(b)(4). 

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

7 17 CFR 240.19b–4(f)(2). 

orders that provide liquidity for both 

DMMs and SLPs that meet their quoting 

requirements while SLPs that provide 

liquidity but do not meet their quoting 

requirements will be paid a rebate of 

$0.0030 per share. 

Additionally, in lieu of the above 

rebates, the Exchange is proposing to 

provide a block rebate of $0.0036 per 

share for executions of displayed 

liquidity to all market participants and 

SLPs that provide liquidity in orders in 

Nasdaq securities traded pursuant to 

unlisted trading privileges that 

originally display a minimum of 5,000 

shares with a trading price of at least 

$5.00 per share, for as long as the order 

is not cancelled in [sic] amount that 

would reduce the original displayed 

amount below 5,000 shares. For 

example, if a 10,000 share order priced 

above $5.00 displays 10,000 shares, and 

is then partially executed in the amount 

of 4,000 shares, the executed 4,000 

shares receive the block rebate. The 

remaining 6,000 shares are still eligible 

for the block rebate. Additionally, if a 

10,000 share order priced above $5.00 

displays 10,000 shares, and is then 

partially canceled in the amount of 

6,000 shares, the remaining 4,000 shares 

will not be eligible for the block rebate 

and would receive the regular rebate 

when traded. Finally, if a 10,000 share 

order priced above $5.00 displays 

10,000 shares, and is then partially 

executed in the amount of 2,000 shares, 

the executed 2,000 shares receive the 

block rebate, and the remaining 8,000 

shares are still eligible for the block 

rebate. However, if the client then 

cancels 6,000 shares, the remaining 

2,000 shares are not eligible for the 

block rebate and will receive the regular 

rebate when traded. DMMs will receive 

a block rebate of $0.0036 per share in 

Nasdaq securities traded pursuant to 

unlisted trading privileges for 

executions of the displayed portions of 

s-Quotes that provide liquidity and 

display 5,000 shares or more at the time 

of execution with a trading price of at 

least $5.00 per share. 

Additionally, the Exchange proposes 

to amend its 2010 Price List for equities 

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 

5% of the regular trading day in any 

calendar month in order to receive a 

financial rebate.3

These changes are intended to be 

effective immediately for all 

transactions beginning October 1, 2010. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’),4 in general, and Section 6(b)(4) 

of the Act,5 in particular, in that it is 

designed to provide for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members and 

other persons using its facilities. The 

Exchange believes that the proposal 

does not constitute an inequitable 

allocation of fees, as all similarly 

situated member organizations will be 

charged the same amount and access to 

the Exchange’s market is offered on fair 

and non-discriminatory terms. 

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 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) 6 of the Act and 

subparagraph (f)(2) of Rule 19b–4 7

thereunder, because it establishes a due, 

fee, or other charge imposed by NYSE 

Amex. 

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. 

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–NYSEAmex–2010–97 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–NYSEAmex–2010–97. 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 website 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 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 

mstockstill on DSKH9S0YB1PROD with NOTICES

64370 Federal Register / Vol. 75, No. 201 / Tuesday, October 19, 2010 / Notices 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4(f)(6)(iii). 

4Under Rule 4758, the ‘‘System routing table’’ is 

defined as the proprietary process for determining 

the specific trading venues to which the NASDAQ 

System routes orders and the order in which it 

routes them. The definition reflects the fact that 

NASDAQ, like other trading venues, maintains 

different routing tables for different routing options 

and modifies them on a regular basis to reflect 

assessments about the destination markets. Such 

assessments consider factors such as a destination’s 

latency, fill rates, reliability, and cost. Accordingly, 

the definition specifies that NASDAQ reserves the 

right to maintain a different routing table for 

different routing options and to modify routing 

tables at any time without notice. At present, all 

System routing tables include NASDAQ OMX BX 

(‘‘BX’’), and it is expected that they will be modified 

also to include PSX. Thus, all routed orders have 

the opportunity to route to this venue, with the 

exception of DOT orders routed directly to the 

NYSE or NYSE Amex opening or closing processes 

and directed orders that are directed to route to 

venues other than BX. 

5 15 U.S.C. 78f. 

6 15 U.S.C. 78f(b)(5). 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR– 

NYSEAmex–2010–97 and should be 

submitted on or before November 9, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–26109 Filed 10–18–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63083; File No. SR– 

NASDAQ–2010–127] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Modify 

NASDAQ’s Order Routing Rule 

October 13, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on October 

1, 2010, The NASDAQ Stock Market 

LLC (‘‘NASDAQ’’ 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 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 is filing this proposed 

rule change to amend Rule 4758 to 

modify the SAVE routing option to 

reflect the expected launch of NASDAQ 

OMX PSX (‘‘PSX’’) as a new venue for 

trading NMS stocks on October 8, 2010. 

NASDAQ proposes to implement the 

proposed rule change on October 8, 

2010, or, if the Commission does not 

waive the 30-day waiting period 

specified in Rule 19b–4(f)(6)(iii),3 on a 

date that is 30 days after the date of this 

filing. The text of the proposed rule 

change is available at http:// 

nasdaq.cchwallstreet.com/, at the 

Exchange’s principal office, 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, 

NASDAQ included statements 

concerning the purpose of, and basis for, 

the proposed rule change. The text of 

these statements may be examined at 

the places specified in Item III below, 

and is set forth in Sections A, B, and C 

below. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

NASDAQ is amending Rule 4758, 

which describes its order routing 

processes, to modify the existing SAVE 

routing option. Under the SAVE routing 

option, a market participant may specify 

that an order will either (i) route to 

NASDAQ OMX BX (‘‘BX’’), check the 

NASDAQ book, and then route to other 

venues on the SAVE System routing 

table, or (ii) check the NASDAQ book 

first and then route to destinations on 

the SAVE System routing table.4 Under 

the second option, the applicable 

routing table includes BX, and as is the 

case with all market destinations, the 

placement of BX on the routing table 

depends on NASDAQ’s ongoing 

assessments of factors such as latency, 

fill rates, reliability, and cost. If shares 

remain un-executed after routing, they 

are posted to the NASDAQ book and do 

not route out again. All routing 

complies with the requirements of Rule 

611 of Regulation NMS. Under Rule 

7018, NASDAQ passes through, without 

modification, applicable BX fees or 

rebates. In the case of BX, this means 

that NASDAQ passes through the 

$0.0001 per share executed credit paid 

by BX to market participants when 

accessing liquidity. Thus, the routing 

strategy provides market participants 

with the option of routing to a venue 

with a negative execution cost before 

accessing liquidity on NASDAQ and 

other venues. Market participants that 

wish to access NASDAQ before routing 

to BX may also use the SAVE strategy, 

and will receive the same pricing as 

those that opt to route to BX first, 

subject to the fact that they are likely to 

have more shares executed on 

NASDAQ, at a higher cost, than those 

that use SAVE to route to BX first. 

NASDAQ is amending the SAVE 

strategy to provide that in circumstances 

where a market participants [sic] opts to 

route to BX before checking the 

NASDAQ book, the order will also route 

to PSX after BX but before checking 

NASDAQ. PSX will be charging $0.0013 

per share executed to access liquidity, a 

higher rate than BX, but half the fee 

charged by NASDAQ itself to access 

liquidity. Moreover, NASDAQ recently 

amended Rule 7018 to provide that 

orders routed to PSX using the SAVE 

strategy will receive a pass-through of 

applicable charges. Accordingly, 

NASDAQ believes that it is appropriate 

to amend the strategy, to give market 

participants the option of routing to 

these two low cost venues before 

accessing NASDAQ. As is currently the 

case, however, members will also have 

option of checking NASDAQ first using 

the strategy, in which case they will still 

receive pass through pricing if their 

orders are subsequently routed to BX or 

PSX. 

2. Statutory Basis 

NASDAQ believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,5 in 

general, and with Sections 6(b)(5) of the 

Act,6 in particular, in that the proposal 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, 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. The proposed change to 

modify the SAVE routing will provide 

market participants with greater 

flexibility in routing orders to BX and 

PSX, as low cost trading venues. 

mstockstill on DSKH9S0YB1PROD with NOTICES