Federal Register / Vol. 74, No. 140 / Thursday, July 23, 2009 / Notices 36543 

5SR–NASDAQ–2009–067 (July 1, 2009). 

6 15 U.S.C. 78f. 

7 15 U.S.C. 78f(b)(4). 

8 15 U.S.C. 78s(b)(3)(a)(ii). 

9 17 CFR 240.19b–4(f)(2). 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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 

In SR–NASDAQ–2009–067,5 which 

was effective on July 1, 2009, NASDAQ 

established a new pricing tier for 

members that (1) add, route, and/or 

remove an average daily volume of more 

than 150 million shares of liquidity 

through the NASDAQ Market Center 

and (2) add an average daily volume of 

more than 35 million shares of liquidity 

to the NASDAQ Market Center. 

Members meeting these criteria will be 

charged a ‘‘take’’ rate of $0.0027 per 

share executed in the NASDAQ Market 

Center. Because the availability of the 

new pricing tier was not made known 

to market participants until late in the 

day on July 1, NASDAQ believes that it 

would be appropriate to exclude one 

trading day from the month of July 

when calculating a member’s average 

daily volume for the month; thus, the 

month will be deemed to have 21 

trading days, rather than the actual 

number of 22 days. Rather than 

automatically excluding July 1, 

however, NASDAQ proposes to exclude, 

for each member, the day in July on 

which it had its lowest trading volume 

at NASDAQ. NASDAQ believes that this 

approach will ensure that members will 

not be disadvantaged in efforts to attain 

the pricing tier by low trading volumes 

on July 1; however, if a member seeking 

to attain the pricing tier had higher 

volumes on July 1, NASDAQ would 

instead exclude another day on which 

that member had low volumes, to 

provide members with an equitable 

opportunity to attain the required 

volumes. 

2. Statutory Basis 

NASDAQ believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,6 in 

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

Act,7 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. In SR– 

NASDAQ–2009–067, NASDAQ 

significantly reduced the charge to 

access liquidity for market participants 

that both access and provide significant 

quantities of liquidity. Because 

NASDAQ announced this pricing 

change late in the day of July 1, 2009, 

NASDAQ is proposing to exclude one 

trading day from the month of July 2009 

to ensure that members wishing to 

qualify for the price reduction have an 

equitable opportunity to reach the 

required volume levels. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASDAQ does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

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 rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 8 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder.9 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 

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

Number SR–NASDAQ–2009–068 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–2009–068. 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 NASDAQ. 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–2009–068 and 

should be submitted on or before 

August 13, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–17531 Filed 7–22–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60323; File No. SR– 

NASDAQ–2009–067] 

Self-Regulatory Organizations; the 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Modify Fees 

for Members Using the NASDAQ 

Market Center 

July 16, 2009. 

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

Securities Exchange Act of 1934 

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


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36544 Federal Register / Vol. 74, No. 140 / Thursday, July 23, 2009 / Notices 

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

4 17 CFR 240.19b–4(f)(2). 

5The fees and rebates described in this filing 

apply to securities priced at $1 or more per share. 

Fees and rebates applicable to lower-priced 

securities remain unchanged. 

6Firms that add average daily volume of 125 

million shares currently receive a rebate of 

$0.00295 per share, the highest rebate available to 

NASDAQ members. Members meeting that criteria 

will continue to receive that rebate regardless of 

whether they also qualify for the new ‘‘take’’ rate 

tier. 

7 15 U.S.C. 78f. 

8 15 U.S.C. 78f(b)(4). 

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

10 17 CFR 240.19b–4(f)(2). 

notice is hereby given that on July 1, 

2009, The NASDAQ Stock Market LLC 

(‘‘NASDAQ’’) 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 NASDAQ. Pursuant to 

Section 19(b)(3)(A)(ii) of the Act 3 and 

Rule 19b–4(f)(2) thereunder,4 NASDAQ 

has designated this proposal as 

establishing or changing a due, fee, or 

other charge, which renders the 

proposed rule change effective upon 

filing. 

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 

NASDAQ proposes to modify pricing 

for NASDAQ members using the Nasdaq 

Market Center. NASDAQ will 

implement this rule change on July 1, 

2009. The text of the proposed rule 

change is available at http:// 

nasdaqomx.cchwallstreet.com/, at 

NASDAQ’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 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. 

NASDAQ 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 several 

changes to its transaction services 

pricing. First, NASDAQ is proposing to 

lower the per-share fee for executions in 

the NASDAQ Market Center in 

securities listed on NASDAQ or on the 

New York Stock Exchange. Specifically, 

NASDAQ is establishing a new pricing 

tier for members that are most active in 

the NASDAQ Market Center. Currently, 

NASDAQ’s highest activity tier offers a 

rebate of $0.00295 for members that add 

an average daily volume of 125 million 

shares of liquidity to the NASDAQ 

Market Center, but NASDAQ charges 

$0.0030 per share for accessing 

liquidity.5 Effective July 1, 2009, 

NASDAQ will establish a tier that 

requires members to meet two criteria: 

(1) Add, route, and/or remove an 

average daily volume of more than 150 

million shares of liquidity through the 

NASDAQ Market Center and (2) add an 

average daily volume of more than 35 

million shares of liquidity to the 

NASDAQ Market Center. Members 

meeting these criteria will be charged a 

‘‘take’’ rate of $0.0027 per share 

executed in the NASDAQ Market 

Center.6 The proposed rule change is 

designed to attract additional activity to 

the NASDAQ Market Center and to 

return to members the efficiencies that 

are gained when members increase their 

level of activity at NASDAQ markets. 

Ultimately, those efficiencies are 

returned to investors in the form of 

lower overall trading costs. 

Second, NASDAQ is proposing to 

increase the fee it charges for Market-onClose and Limit-on-Close orders 

executed in its closing cross, from 

$0.0005 per share executed to $0.0007 

per share executed. NASDAQ will 

continue to charge no fee for other 

quotes and orders executed in the 

closing cross. NASDAQ has not 

modified this fee since it first began to 

operate as a national securities exchange 

in 2006, and believes that an increase is 

now warranted to provide for additional 

revenue to mitigate the impact of the 

significant reduction to fees to access 

liquidity otherwise provided by this 

filing. The fee remains far lower than 

the fees charged to access liquidity 

during regular market hours, which are 

themselves subject to reduction under 

this proposal. 

2. Statutory Basis 

NASDAQ believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,7 in 

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

Act,8 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. 

NASDAQ is significantly reducing the 

charge to access liquidity for market 

participants that both access and 

provide significant quantities of 

liquidity. This aspect of the proposal is 

aimed at recognizing the value to the 

market of its most active participants, 

and is similar to volume-based 

discounts that have long been in effect 

at NASDAQ and other trading venues. 

NASDAQ is also increasing its fee for 

Market-on-Close and Limit-on-Close 

orders to allocate a greater proportion of 

overall fees to members that benefit 

from using these valuable and popular 

order types. The overall impact of this 

fee increase is modest in comparison 

with the corresponding reductions. 

The impact of the changes upon the 

net fees paid by a particular market 

participant will depend upon a number 

of variables, including its monthly 

volume, the order types it uses, and the 

prices of its quotes and orders (i.e., its 

propensity to add or remove liquidity 

and to set the best bid and offer). 

NASDAQ notes that it operates in a 

highly competitive market in which 

market participants can readily direct 

order flow to competing venues if they 

deem fee levels at a particular venue to 

be excessive. NASDAQ is reducing fees 

for many of its market participants to 

remain competitive with those charged 

by other venues and therefore strongly 

believes that its fees are reasonable and 

equitably allocated to those members 

that opt to direct orders to NASDAQ 

rather than competing venues. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASDAQ does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

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 rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act 9 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder.10 At any time within 60 


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Federal Register / Vol. 74, No. 140 / Thursday, July 23, 2009 / Notices 36545 

11 17 CFR 200.30–3(a)(12). 

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 

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

Number SR–NASDAQ–2009–067 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–2009–067. 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 NASDAQ. 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–2009–067 and 

should be submitted on or before 

August 13, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–17530 Filed 7–22–09; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF STATE 

[Public Notice 6707] 

Culturally Significant Objects Imported 

for Exhibition Determinations: ‘‘The 

Moon: Houston, Tranquility Base here. 

The Eagle has landed.’’ 

SUMMARY: Notice is hereby given of the 

following determinations: Pursuant to 

the authority vested in me by the Act of 

October 19, 1965 (79 Stat. 985; 22 U.S.C. 

2459), Executive Order 12047 of March 

27, 1978, the Foreign Affairs Reform and 

Restructuring Act of 1998 (112 Stat. 

2681, et seq.; 22 U.S.C. 6501 note, et 

seq.), Delegation of Authority No. 234 of 

October 1, 1999, Delegation of Authority 

No. 236 of October 19, 1999, as 

amended, and Delegation of Authority 

No. 257 of April 15, 2003 [68 FR 19875], 

I hereby determine that the objects to be 

included in the exhibition ‘‘The Moon: 

Houston, Tranquility Base here. The 

Eagle has landed,’’ imported from 

abroad for temporary exhibition within 

the United States, are of cultural 

significance. The objects are imported 

pursuant to loan agreements with the 

foreign owners or custodians. I also 

determine that the exhibition or display 

of the exhibit objects at the Museum of 

Fine Arts, Houston, TX, in celebration 

of the fortieth anniversary of the first 

men walking on the moon, from on or 

about September 27, 2009, until on or 

about January 10, 2010, and at possible 

additional exhibitions or venues yet to 

be determined, is in the national 

interest. Public Notice of these 

Determinations is ordered to be 

published in the Federal Register. 

FOR FURTHER INFORMATION CONTACT: For 

further information, including a list of 

the exhibit objects, contact Carol B. 

Epstein, Attorney-Adviser, Office of the 

Legal Adviser, U.S. Department of State 

(telephone: 202/453–8048). The address 

is U.S. Department of State, SA–44, 301 

4th Street, SW., Room 700, Washington, 

DC 20547–0001. 

Dated: July 14, 2009. 

C. Miller Crouch, 

Acting Assistant Secretary for Educational 

and Cultural Affairs, Department of State. 

[FR Doc. E9–17547 Filed 7–22–09; 8:45 am] 

BILLING CODE 4710–05–P 

DEPARTMENT OF TRANSPORTATION 

National Highway Traffic Safety 

Administration 

Petition for Exemption from the 

Vehicle Theft Prevention Standard; 

Mercedes-Benz 

AGENCY: National Highway Traffic 

Safety Administration (NHTSA), 

Department of Transportation (DOT). 

ACTION: Grant of petition for exemption. 

SUMMARY: This document grants in full 

the Mercedes-Benz USA, LLC.’s 

(MBUSA) petition for exemption of the 

SLK Class Line Chassis (SLK–Class) 

vehicle line in accordance with 49 CFR 

part 543, Exemption from the Theft 

Prevention Standard. This petition is 

granted because the agency has 

determined that the antitheft device to 

be placed on the line as standard 

equipment is likely to be as effective in 

reducing and deterring motor vehicle 

theft as compliance with the partsmarking requirements of the Theft 

Prevention Standard (49 CFR part 541). 

DATES: The exemption granted by this 

notice is effective beginning with the 

2010 model year. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Rosalind Proctor, Office of International 

Policy, Fuel Economy and Consumer 

Programs, NHTSA, West Building, 

W43–302, 1200 New Jersey Avenue, SE., 

Washington, DC 20590. Ms. Proctor’s 

phone number is (202) 366–0846. Her 

fax number is (202) 493–0073. 

SUPPLEMENTARY INFORMATION: In a 

petition dated June 19, 2009, MBUSA 

requested exemption from the partsmarking requirements of the theft 

prevention standard (49 CFR part 541) 

for the SLK–Class Line Chassis vehicle 

line, beginning with the 2010 model 

year. The petition has been filed 

pursuant to 49 CFR part 543, Exemption 

from Vehicle Theft Prevention Standard, 

based on the installation of an antitheft 

device as standard equipment for an 

entire vehicle line. 

Under § 543.5(a), a manufacturer may 

petition NHTSA to grant an exemption 

for one vehicle line per model year. In 

its petition, MBUSA provided a detailed 

description and diagram of the identity, 

design, and location of the components 

of the antitheft device for the SLK–Class 

Chassis vehicle line. MBUSA stated that 


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