Federal Register / Vol. 75, No. 212 / Wednesday, November 3, 2010 / Notices 67801 

6See Securities Exchange Act Release No. 61041 

(November 20, 2009), 74 FR 53535 (November 30, 

2009) (SR–BX–2009–73). 

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

8 15 U.S.C. 78f(b)(5). 

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

10 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of the Exchange’s 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. The Commission 

has waived the five-day prefiling requirement in 

this case. 

11See Securities Exchange Act Release No. 63132 

(October 19, 2010), 75 FR 65541 (October 25, 2010) 

(SR–Phlx–2010–118) (order approving expansion of 

$0.50 Strike Price Program). 

12For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 13 17 CFR 200.30–3(a)(12). 

months until expiration. This sentence 

should have been removed when the 

Exchange expanded the $1 Strike Price 

Program in a limited fashion to allow 

BOX to list new series in $1 intervals up 

to $5 in long-term option series in up to 

200 option classes on individual 

stocks.6

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with the 

requirements of Section 6(b) of the Act,7

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

Act,8 in particular, in that it is designed 

to promote just and equitable principles 

of trade, to prevent fraudulent and 

manipulative acts, to remove 

impediments to and perfect the 

mechanism for a free and open market 

and a national market system and, in 

general, to protect investors and the 

public interest. In particular, the 

Exchange believes that amending the 

current $0.50 Strike Program will result 

in a continuing benefit to investors by 

giving them more flexibility to closely 

tailor their investment decisions in a 

greater number of securities. Investors 

would be provided with an opportunity, 

which does not exist today, to minimize 

losses associated with declining stock 

prices. With the increase in actively 

traded, low-priced securities, BOX 

believes that amending the $0.50 Strike 

Program to allow a $0.50 strike interval 

below $1 for strike prices of $5.50 or 

less is necessary to provide investors 

additional opportunity to minimize and 

manage risk. 

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 

The Exchange has neither solicited 

nor received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not significantly affect the 

protection of investors or the public 

interest, does not impose any significant 

burden on competition, and, by its 

terms, does not become operative for 30 

days from the date on which it was 

filed, or such shorter time as the 

Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 9 and Rule 19b– 

4(f)(6) thereunder.10

The Exchange has requested that the 

Commission waive the 30-day operative 

delay. The Commission believes that 

waiver of the operative delay is 

consistent with the protection of 

investors and the public interest 

because the proposal is substantially 

similar to that of another exchange that 

has been approved by the 

Commission.11 Therefore, the 

Commission designates the proposal 

operative upon filing.12

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–BX–2010–073 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–BX–2010–073. 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 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–BX– 

2010–073 and should be submitted on 

or before November 24, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–27701 Filed 11–2–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63199; File No. SR– 

NASDAQ–2010–139] 

Self-Regulatory Organizations; 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Routing Fees 

October 27, 2010. 

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

Securities Exchange Act of 1934 


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67802 Federal Register / Vol. 75, No. 212 / Wednesday, November 3, 2010 / Notices 

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

2 17 CFR 240.19b–4. 

3See C2 Fees Schedule. 

4 15 U.S.C. 78f. 

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

notice is hereby given that on October 

25, 2010, The NASDAQ Stock Market 

LLC (‘‘NASDAQ’’ 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 modify 

Rule 7050 governing pricing for 

NASDAQ members using the NASDAQ 

Options Market (‘‘NOM’’), NASDAQ’s 

facility for executing and routing 

standardized equity and index options. 

While fee changes pursuant to this 

proposal are effective upon filing, the 

Exchange has designated these changes 

to be operative upon the effectiveness of 

SR–C2–2010–006. 

The text of the proposed rule change 

is set forth below. Proposed new text is 

in italics and deleted text is in 

[brackets]. 

* * * * * 

7050. NASDAQ Options Market 

The following charges shall apply to 

the use of the order execution and 

routing services of the NASDAQ 

Options Market for all securities. 

* * * * * 

(4) Fees for routing contracts to 

markets other than the NASDAQ 

Options Market shall be assessed as 

provided below. The current fees and a 

historical record of applicable fees shall 

be posted on the NasdaqTrader.com 

Web site. 

Exchange Customer Firm MM 

BATS ........................................................................................................................................................ $0.36 $0.55 $0.55 

BOX ......................................................................................................................................................... $0.06 $0.55 $0.55 

CBOE ....................................................................................................................................................... $0.06 $0.55 $0.55 

ISE ........................................................................................................................................................... $0.06 $0.55 $0.55 

ISE Select Symbols * of 100 or more contracts ...................................................................................... $0.26 $0.55 $0.55 

NYSE Arca Penny Pilot ........................................................................................................................... $0.50 $0.55 $0.55 

NYSE Arca Non Penny Pilot ................................................................................................................... $0.06 $0.55 $0.55 

NYSE AMEX ............................................................................................................................................ $0.06 $0.55 $0.55 

PHLX (for all options other than PHLX Select Symbols) ........................................................................ $0.06 $0.55 $0.55 

PHLX Select Symbols ** .......................................................................................................................... $0.30 $0.55 $0.55 

C2 ............................................................................................................................................................ $0.21 $0.55 $0.55 

* These fees are applicable to orders routed to ISE that are subject to Rebates and Fees for Adding and Removing Liquidity in Select Symbols. See ISE’s Schedule of Fees for the complete list of symbols that are subject to these fees. 

** These fees are applicable to orders routed to PHLX that are subject to Rebates and Fees for Adding and Removing Liquidity in Select Symbols. See PHLX’s Fee Schedule for the complete list of symbols that are subject to these fees. 

* * * * * 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http:// 

www.nasdaq.cchwallstreet.com, at the 

principal office of the Exchange, 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 

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 

NASDAQ is proposing to modify Rule 

7050 governing the fees assessed for 

options orders entered into NOM but 

routed to and executed on away markets 

(‘‘routing fees’’). 

NASDAQ Options Services LLC 

(‘‘NOS’’), a member of the Exchange, is 

the Exchange’s exclusive order router. 

Each time NOS routes to away markets 

NOS is charged a $0.06 clearing fee and, 

in the case of certain exchanges, a 

transaction fee is also charged in certain 

symbols, which are passed through to 

the Exchange. 

The Exchange proposes to assess new 

fees for routing contracts to markets 

other than the NASDAQ Options Market 

to Rule 7050. The Exchange is 

proposing to assess a $.21 per contract 

fee for Customer option orders, a $.55 

per contract fee for Firm and Market 

Maker option orders that are routed to 

C2 Options Exchange, Inc. (‘‘C2’’). The 

Exchange is proposing to caption these 

proposed fees ‘‘C2.’’ 

The Exchange is proposing these fees 

in order to recoup clearing and 

transaction charges incurred by the 

Exchange when orders are routed to 

C2.3 Each destination market’s 

transaction charge varies and there is a 

standard clearing charge for each 

transaction incurred by the Exchange. 

The Exchange believes that the routing 

fees proposed will enable the Exchange 

to recover the transaction fees assessed 

by away markets, where applicable, plus 

clearing fees for the execution of 

Customer, Firm and Market Maker 

orders. As with all fees, the Exchange 

may adjust these Routing Fees in 

response to competitive conditions by 

filing a new proposed rule change. 

While fee changes pursuant to this 

proposal are effective upon filing, the 

Exchange has designated these changes 

to be operative upon the effectiveness of 

SR–C2–2010–006. 

2. Statutory Basis 

NASDAQ believes that the proposed 

rule changes are consistent with the 

provisions of Section 6 of the Act,4 in 


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Federal Register / Vol. 75, No. 212 / Wednesday, November 3, 2010 / Notices 67803 

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

6 15 U.S.C. 78s(b)(3)(A)(ii). 7 17 CFR 200.30–3(a)(12). 

general, and with Section 6(b)(4) of the 

Act,5 in particular, in that it provides for 

the equitable allocation of reasonable 

dues, fees and other charges among 

members and issuers and other persons 

using any facility or system which 

NASDAQ operates or controls. 

The Exchange believes that this fee is 

reasonable because it seeks to recoup 

costs that are incurred by the Exchange 

when routing customer orders to C2 on 

behalf of its members. The Exchange 

also believes that the proposed fees are 

equitable because they will be 

uniformly applied to all customers. 

NASDAQ is one of eight options 

market in the national market system for 

standardized options. Joining NASDAQ 

and electing to trade options is entirely 

voluntary. Under these circumstances, 

NASDAQ’s fees must be competitive 

and low in order for NASDAQ to attract 

order flow, execute orders, and grow as 

a market. NASDAQ thus believes that its 

fees are fair and reasonable and 

consistent with the Exchange Act. 

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.6 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–NASDAQ–2010–139 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–NASDAQ–2010–139. 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. 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–2010–139 and should be 

submitted on or before November 24, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–27690 Filed 11–2–10; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Data Collection Available for Public 

Comments and Recommendations 

ACTION: Notice and request for 

comments. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995, this 

notice announces the Small Business 

Administration’s intentions to request 

approval on a new and/or currently 

approved information collection. 

DATES: Submit comments on or before 

January 3, 2011. 

ADDRESSES: Send all comments 

regarding whether this information 

collection is necessary for the proper 

performance of the function of the 

agency, whether the burden estimates 

are accurate, and if there are ways to 

minimize the estimated burden and 

enhance the quality of the collection, to 

Audrey L. Farley, SES Candidate, Office 

of Financial Assistance, Small Business 

Administration, 409 3rd Street, 8th 

Floor, Washington, DC 20416. 

FOR FURTHER INFORMATION CONTACT: 

Audrey L. Farley, Office of Financial 

Assistance, 202–205–7006, 

audrey.farley@sba.gov; Curtis B. Rich, 

Management Analyst, 202–205–7030, 

curtis.rich@sba.gov. 

SUPPLEMENTARY INFORMATION: The 

information collected through these 

forms from future Intermediary lenders 

will be used to determine eligibility and 

to properly evaluate the merits of each 

application for a direct loan. In 

addition, the information will be 

collected for the purpose of providing 

direct loan funds under the 

Intermediary Lending Pilot Program 

(ILPP) to eligible Intermediaries, which 

in turn will be used to provide loans to 

start-up, newly established, and growing 

small business concerns for working 

capital, real estate, or the acquisition of 

materials, supplies or equipment. 

Title: ‘‘Intermediary Lending Pilot 

Program (ILPP).’’ 

Description of Respondents: Private, 

Non-Profit Organizations or Community 

Development Corporations; and an 

Agency or Non-Profit entity established 

by a Native American Tribal 

Government. 

Form Number: N/A. 

Annual Responses: 200. 

Annual Burden: 3,200. 

Jacqueline White, 

Chief, Administrative Information Branch. 

[FR Doc. 2010–27730 Filed 11–2–10; 8:45 am] 

BILLING CODE P 


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