Document ID: SEC-2012-0713-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Amex LLC
Posted Date: 2012-05-08T04:00Z

[Federal Register Volume 77, Number 89 (Tuesday, May 8, 2012)]
[Notices]
[Pages 27104-27105]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-11000]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-66903; File No. SR-NYSEAmex-2012-27]

 Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Implementing an 
Increase to the Login Fee Within the NYSE Amex Options Fee Schedule

May 2, 2012.
    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 April 27, 2012, NYSE Amex LLC (the ``Exchange'' or ``NYSE Amex'') 
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 self-regulatory organization. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to increase the login fee within the NYSE 
Amex Options Fee Schedule (``Fee Schedule'') and to make this increase 
operative on May 1, 2012. 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 is proposing to increase the login fee within the Fee 
Schedule and to make this increase operative on May 1, 2012.
    The Exchange currently charges Floor brokers a $150 per month login 
fee for access to the Floor broker Workstation (``FBW''), which is an 
Exchange-sponsored Floor broker order entry system.\3\ In addition to 
enabling Floor brokers to electronically submit orders to the Exchange, 
the FBW contributes to Floor brokers complying with various Exchange 
rules, such as the order format and system entry requirements of NYSE 
Amex Options Rule 955NY.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 59478 (February 27, 
2009), 74 FR 9857 (March 6, 2009) (SR-NYSEALTR-2009-19).
---------------------------------------------------------------------------

    The Exchange proposes to increase the login fee from $150 per login 
per month to $215 per login per month. This proposed increase, which 
would be the first in the more than three years since the login fee was 
implemented, would permit the Exchange to offset the increase in the 
Exchange's cost to make the FBW available to Floor brokers and would 
also permit the Exchange to continue to make enhancements and upgrades 
to the FBW available to Floor brokers.
    The Exchange proposes that the increase to the login fee become 
effective on May 1, 2012.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Securities Exchange Act of 1934 (the 
``Act''),\4\ in general, and furthers the objectives of Section 6(b)(4) 
of the Act,\5\ in particular, because it provides for the equitable 
allocation of reasonable dues, fees, and other charges among its 
members, issuers and other persons using its facilities. Specifically, 
the Exchange believes that the proposed rule change is reasonable, 
equitable and not unfairly discriminatory because it would permit the 
Exchange to offset the increase in the Exchange's cost to make the FBW 
available to Floor brokers. The Exchange also believes that the 
proposed rule change is reasonable, equitable and not unfairly 
discriminatory because it would permit the Exchange to continue to make 
enhancements and upgrades to the FBW available to Floor brokers. 
Additionally, the Exchange believes that the proposed rule change is 
reasonable, equitable and not unfairly discriminatory because the login 
fee, and the proposed increase thereof, is applicable to all Floor 
brokers that receive access to the FBW.
---------------------------------------------------------------------------

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

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 the NYSE Amex.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such 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 email to rule-comments@sec.gov. Please include 
File Number SR-NYSEAmex-2012-27 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.

[[Page 27105]]

All submissions should refer to File Number SR-NYSEAmex-2012-27. This 
file number should be included on the subject line if email 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 10:00 a.m. and 
3:00 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 available publicly. All 
submissions should refer to File Number SR-NYSEAmex-2012-27 and should 
be submitted on or before May 29, 2012.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-11000 Filed 5-7-12; 8:45 am]
BILLING CODE 8011-01-P