Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 22785 

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. 78f(b). 

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

5 15 U.S.C. 78s(b)(3)(A). 

6 17 CFR 240.19b–4(f)(2). 

Room. Copies of such filing also will be 

available for inspection and copying at 

the principal office of the ISE. 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–ISE–2009–23 and should be 

submitted by June 4, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–11230 Filed 5–13–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59883; File No. SR– 

NYSEAmex–2009–16] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC Making Certain 

Amendments to Its Price List 

May 7, 2009. 

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 April 30, 

2009, 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, II, and 

III 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 

price list to (i) clarify that nonelectronic agency transactions of less 

than 10,000 shares between floor 

brokers in the crowd are not subject to 

any transaction fee, (ii) clarify that 

brokers are charged a discounted fee of 

$0.0005 per share for Discretionary eQuotes and verbal agency interest when 

taking liquidity from the Exchange, and 

(iii) to remove references to the payment 

of rebates applicable to the period prior 

to the implementation of the Capital 

Commitment Schedule that are no 

longer relevant. The text of the proposed 

rule change is available at the Exchange, 

the Commission’s Public Reference 

Room, and www.nyse.com. 

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 modify the 

2009 NYSE Amex Price List to clarify 

that non-electronic agency transactions 

of less than 10,000 shares between floor 

brokers in the crowd are not subject to 

any transaction fee. The 2009 NYSE 

Amex Price List does not currently 

reference any fee for these transactions 

and the Exchange treats them the same 

as non-electronic agency transactions of 

more than 10,000 shares, which are free 

of charge. The amended 2009 NYSE 

Amex Price List will state that any nonelectronic agency transaction between 

brokers in the crowd is free of charge, 

regardless of size. 

The current NYSE Amex price list 

does not state a fee policy with respect 

to Discretionary e-Quotes and orders 

submitted by floor brokers as verbal 

agency interest. The Exchange’s current 

practice with respect to such orders is 

to charge the floor broker $0.0005 per 

share or, in the case of securities with 

a trading price of less than $1.00, the 

lesser of (i) $0.0005 per share or (ii) 

0.25% of the dollar value of the 

transaction. The current NYSE Amex 

Price List does not state this fee policy. 

The Exchange is amending its price list 

to specifically state this policy. 

Footnote 5 in the current 2009 NYSE 

Amex Price List states that Designated 

Market Makers receive rebates under 

several circumstances when providing 

liquidity on non-displayed interest 

using the Capital Commitment 

Schedule, or, prior to the 

implementation of the Capital 

Commitment Schedule, using the 

following message activities: price 

improvement, size improvement (PRIN 

FILL), matching away market quotes. As 

the Capital Commitment Schedule has 

been implemented, the text dealing with 

the payment of rebates in the period 

prior to its implementation is no longer 

relevant and the Exchange proposes to 

delete it. 

The subheading ‘‘Transactions in 

Securities with a Per Share Price Above 

$1.00’’ is modified to clarify that it 

applies to all transactions in securities 

with a price equal to or greater than 

$1.00. It will now read as follows: 

‘‘Transactions in Securities with a Per 

Share Price of $1.00 or more.’’ 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,3

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

Act,4 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. 

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) 5 of the Act and 

subparagraph (f)(2) of Rule 19b–4 6

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 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. 


pwalker on PROD1PC71 with NOTICES
22786 Federal Register / Vol. 74, No. 92 / Thursday, May 14, 2009 / Notices 

7 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 CFR 240.19b–4(f)(2). 

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–2009–16 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–2009–16. 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 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–NYSEAmex–2009–16 and 

should be submitted on or before June 

4, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–11227 Filed 5–13–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59890; File No. SR–BATS– 

2009–010] 

Self-Regulatory Organizations; BATS 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Related to Fees for Use 

of BATS Exchange, Inc. 

May 7, 2009. 

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 April 30, 

2009, BATS Exchange, Inc. (‘‘BATS’’ or 

the ‘‘Exchange’’) 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 the Exchange. BATS has designated 

the proposed rule change as one 

establishing or changing a member due, 

fee, or other charge imposed by the 

Exchange under Section 19(b)(3)(A)(ii) 

of the Act 3 and Rule 19b–4(f)(2) 

thereunder,4 which renders the 

proposed rule change 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 Substance of 

the Proposed Rule Change 

The Exchange proposes to modify its 

fee schedule applicable to use of the 

Exchange. While changes to the fee 

schedule pursuant to this proposal will 

be effective upon filing, the changes will 

become operative on May 1, 2009. 

The text of the proposed rule change 

is available at the Exchange’s Web site 

at http://www.batstrading.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 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 modify its 

fee schedule applicable to use of the 

Exchange effective May 1, 2009, in order 

to: (i) Charge a consistent fee of $0.0025 

per share for trades that remove 

liquidity in securities priced $1.00 or 

above and provide a consistent rebate of 

$0.0024 per share to Members who add 

displayed liquidity in securities priced 

$1.00 or above; (ii) change the securities 

for which the Exchange does not pay a 

rebate for adding liquidity to all 

securities priced below $1.00, rather 

than securities priced below $5.00, and 

eliminate the rebate of $0.0001 per share 

for trades that remove liquidity in 

securities priced below $5.00; (iii) 

decrease the fee charged by the 

Exchange for its ‘‘CYCLE’’ routing 

strategy from $0.0026 per share to 

$0.0025 per share and modify the 

routing fee for securities priced below 

$1.00; and (iv) change from a fee of 

$0.0005 per share to a rebate of $0.0001 

per share for Modified Destination 

Specific Orders routed to a dark 

liquidity venue. Each of these proposed 

changes is described in further detail 

below. 

(i) Fees and Rebates for Securities 

Priced $1.00 or Above 

The Exchange currently charges a fee 

of $0.0025 per share for trades that 

remove liquidity in securities priced 

$5.00 or above, and proposes to change 

this fee so that it instead applies to 

trades that remove liquidity in securities 

priced $1.00 or above. 

The Exchange currently provides 

rebates for securities priced $5.00 or 

above of $0.0023 per share to Members 

who add displayed liquidity in Tape A 

and C securities, and $0.0028 per share 

to Members who add displayed in Tape 

B securities. The Exchange proposes to 


pwalker on PROD1PC71 with NOTICES