28748 Federal Register / Vol. 74, No. 115 / Wednesday, June 17, 2009 / Notices 

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

2 17 CFR 240.19b–4. 

3While it is believed that Bloomberg is the only 

market data vendor that currently provides its 

customers with opening and closing order 

imbalances data, the Exchange provides this 

information feed to all market data vendors for their 

distribution to subscribers. 

4 15 U.S.C. 78f. 

5 15 U.S.C. 78a et seq. 

6 15 U.S.C. 78f(b)(4). 

7 15 U.S.C. 78s(b)(3)(A)(ii). 

8 17 CFR 240.19b–4(f)(2). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60088; File No. SR–NYSE– 

2009–56] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Adopt a Fee 

for Use of a Hand Held Device 

Configured To Provide Only Opening 

and Closing Order Imbalance Data 

June 10, 2009. 

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 June 5, 

2009, the New York Stock Exchange 

LLC (‘‘NYSE’’ or ‘‘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. 

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 adopt a 

$250 monthly fee for use of an NYSE eBroker® Hand Held Device that is 

configured to provide access only to 

opening and closing order imbalance 

data. The text of the proposed rule 

change is available on the Exchange’s 

Web site (http://www.nyse.com), at the 

Exchange’s Office of the Secretary, 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 

The e-Broker® Hand Held Device 

(‘‘Hand Held’’), which is proprietary to 

the Exchange, provides Exchange floor 

brokers with messaging capability, the 

ability to receive orders electronically 

while on the floor of the Exchange, and 

access to market data. The Exchange 

charges an annual fee of $5,000 per 

Hand Held. The Exchange now proposes 

to make available a reconfigured Hand 

Held that provides access to opening 

and closing order imbalance data, but 

without any of the other market data or 

other capabilities normally provided by 

Hand Helds. With effect from July 1, 

2009, the Exchange proposes to charge 

a monthly fee of $250.00 for each Hand 

Held that is configured to provide only 

opening and closing order imbalance 

data. Opening and closing order 

imbalance data is currently available on 

the trading floor only to floor brokers 

with access to the full service Hand 

Held. By making the reconfigured Hand 

Held available, the Exchange is enabling 

non-broker employees of member 

organizations, such as floor clerks, to 

have access to this information while 

working on the trading floor.3 Floor 

clerks interact with customers on behalf 

of their Member Organization 

employers. Part of the service floor 

clerks provide to those customers is to 

act as a source of current information 

about market developments. 

Consequently, floor clerks need to have 

access to all relevant information about 

market activity, including opening and 

closing trade imbalances. Currently, 

floor clerks can access opening and 

closing trade imbalance information 

either by speaking to a floor trader who 

has a full-service Hand Held or by 

accessing Bloomberg, which requires 

the firm to maintain a costly 

subscription. The proposed 

reconfigured Hand Held will create 

efficiencies as floor brokers will no 

longer have to devote time to 

communicating trade imbalance data to 

floor clerks. It will also provide a low 

cost alternative to the expense of 

subscribing to Bloomberg for the sole 

purpose of accessing opening and 

closing trade imbalance data. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 4 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 5 in general and Section 6(b)(4) of 

the Act 6 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 dues, fees and other 

charges as all Member Organizations 

will be able to avail of the Hand Held 

service on the same 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 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing proposed rule change is 

effective upon filing pursuant to Section 

19(b)(3)(A)(ii) of the Act 7 and Rule 19b– 

4(f)(2) thereunder.8

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 


dwashington3 on PROD1PC60 with NOTICES
Federal Register / Vol. 74, No. 115 / Wednesday, June 17, 2009 / Notices 28749 

9 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2The ORF was established in October 2008 as a 

replacement of Registered Representative (’’RR’’) 

fees. See Securities Exchange Act Release No. 58817 

(October 20, 2008), 73 FR 63744 (October 27, 2008) 

(‘‘Original Filing’’). The ORF was to be effective 

January 1, 2009. In December 2008 and January 

2009, the Exchange filed proposed rule changes 

waiving the ORF for January and February, to allow 

additional time for the Exchange, OCC and firms to 

put in place appropriate procedures to implement 

the fee. See Securities Exchange Act Release No. 

59182 (December 30, 2008), 74 FR 730 (January 7, 

2009), and Securities Exchange Act Release No. 

59355 (February 3, 2009), 74 FR 6677 (February 10, 

2009). To avoid a regulatory revenue shortfall for 

2009 due to the waivers of the fee, the Exchange 

increased the ORF for 2009 from $.0045 per 

contract to $.006 per contract. See Securities 

Exchange Act Release No. 59427 (February 20, 

2009), 74 FR 9013 (February 27, 2009). 

3Original Filing at 63745. 

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

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NYSE–2009–56 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–NYSE–2009–56. 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, on official business days between 

the hours of 10 a.m. and 3 p.m. Copies 

of such filing will also 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–NYSE– 

2009–56 and should be submitted on or 

before July 8, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–14171 Filed 6–16–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60093; File No. SR–CBOE– 

2009–036] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to the Options 

Regulatory Fee 

June 10, 2009. 

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

Securities Exchange Act of 1934,1 notice 

is hereby given that on June 4, 2009, 

Chicago Board Options Exchange, 

Incorporated 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 CBOE. 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 

Chicago Board Options Exchange, 

Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) 

proposes to amend its Fees Schedule 

relating to the Options Regulatory Fee. 

The text of the proposed rule change is 

available on the Exchange’s Web site 

(http://www.cboe.org/legal), at the 

Exchange’s Office of the Secretary and 

at the Commission. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

CBOE 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. CBOE 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, Proposed Rule 

Change 

1. Purpose 

The Exchange charges an Options 

Regulatory Fee (‘‘ORF’’) of $.006 per 

contract to each member for all options 

transactions executed by the member 

that are cleared by The Options Clearing 

Corporation (‘‘OCC’’) in the customer 

range, excluding Options Intermarket 

Linkage Plan (‘‘Linkage’’) orders. The 

ORF is imposed upon all such 

transactions executed by a member, 

even if such transactions do not take 

place on the Exchange. The ORF is 

collected indirectly from members 

through their clearing firms by OCC on 

behalf of the Exchange. There is a 

minimum one-cent charge per trade.2

The Exchange has reevaluated the 

current amount of the ORF in light of 

better than expected trading volume so 

far in 2009. The Exchange stated in the 

Original Filing that the ORF is set at a 

rate that the Exchange anticipates will 

approximately replace the amount of 

revenue that would be lost from the 

elimination of RR Fees.3 The Exchange 

has determined that the ORF would 

generate revenue in excess of the 

amount of annual revenue the Exchange 

used to receive from RR fees if the ORF 

remained at $.006 per contract for all of 

2009. Accordingly, the Exchange 

proposes to reduce the ORF from $.006 

per contract to $.004 per contract. The 

fee change would become operative on 

August 1, 2009, in order to give 

members time to implement the revised 

fee. 

The Exchange will continue to 

monitor the amount of revenue raised 

by the ORF to ensure that it is meeting 

its revenue benchmarks and may make 

other adjustments to the fee in the 

future as necessary. The Exchange 

anticipates providing notice of any ORF 

changes as far in advance of the 

effective date of the new rate as 

possible. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Securities Exchange Act of 

1934 (‘‘Act’’),4 in general, and furthers 


dwashington3 on PROD1PC60 with NOTICES