Document ID: SEC-2008-0044-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations: NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Nasdaqs Rule 7033
Posted Date: 2008-01-08T05:00Z

[Federal Register: January 8, 2008 (Volume 73, Number 5)]
[Notices]               
[Page 1390-1391]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08ja08-98]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57068; File No. SR-NASDAQ-2007-093]

 
Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
to Nasdaq's Rule 7033

December 31, 2007.
    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 December 19, 2007, 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 substantially by Nasdaq. Nasdaq has designated 
this proposal as one that is concerned solely with the administration 
of the self-regulatory organization under Section 19(b)(3)(A)(iii) of 
the Act \3\ and Rule 19b-4(f)(3) thereunder,\4\ which renders the 
proposal effective upon filing with the Commission. The Commission is 
publishing this notice to solicit comments on the proposed rule change 
from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(3).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    Nasdaq is filing with the Commission a proposed rule change to 
correct certain errors in the rule manual regarding fees charged for 
the Mutual Fund Quotation Service (``MFQS''). The text of the proposed 
rule change is available at http://www.nasdaq.complinet.com, the 

principal offices of the Exchange, and 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. Nasdaq has prepared summaries, set forth in Sections A, 
B, and C below, of

[[Page 1391]]

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 amending its rule manual to reflect MFQS fees previously 
approved when MFQS was operated as a facility of the National 
Association of Securities Dealers (``NASD'') but inadvertently not 
transferred to the corresponding Nasdaq rule when Nasdaq commenced 
operations as a national securities exchange on August 1, 2006. 
Pursuant to SR-NASD-2005-059 ,\5\Nasdaq amended NASD Rule 7090 
subsections (a) and (d) to provide for annual MFQS listing fees of $475 
for News Media List and $350 for the Supplemental List, as well as a 
$25 administrative fee. The changes were approved by the Commission and 
became effective September 27, 2005. However, due to an oversight, the 
Nasdaq manual, as replicated by Nasdaq upon its separation from NASD, 
did not include the revised and approved subsections (a) or (d) in its 
corresponding Rule 7033. Nevertheless, Nasdaq has charged the approved 
fees since the effective date of the approval. Nasdaq seeks to rectify 
the oversight through the current rule proposal.
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    \5\ Securities Exchange Act Release No. 52517 (September 27, 
2005), 70 FR 57908 (October 4, 2005).
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2. Statutory Basis
    Nasdaq believes that the proposed rule change is consistent with 
Section 6(b) of the Act \6\ in general, and with Section 6(b)(4) of the 
Act,\7\ in particular, in that the proposal 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 proposed rule change corrects certain errors 
in the rule manual to reflect previously approved MFQS fees.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    Nasdaq 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

    The Exchange has neither solicited nor received written comments on 
the proposed rule change.

II. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing proposed rule change has been designated as concerned 
solely with the administration of a self-regulatory organization 
pursuant to Section 19(b)(3)(A)(iii) of the Act \8\ and Rule 19b-
4(f)(3) \9\ thereunder. Accordingly, the proposal is effective upon 
filing with the Commission. 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.
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    \8\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \9\ 17 CFR 240.19b-4(f)(3).
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III. 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 rule-comments@sec.gov. Please include 

File Number SR-NASDAQ-2007-093 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.

    All submissions should refer to File Number SR-NASDAQ-2007-093. 
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-NASDAQ-2007-093 and should 
be submitted on or before January 29, 2008.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Florence E. Harmon,
Deputy Secretary.
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    \10\ 17 CFR 200.30-3(a)(12).
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 [FR Doc. E8-84 Filed 1-7-08; 8:45 am]

BILLING CODE 8011-01-P