Document ID: SEC-2009-1534-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Order Approving a Proposed Rule Change To Retroactively Correct an Error in Rule 7018
Posted Date: 2009-10-29T04:00Z

[Federal Register: October 29, 2009 (Volume 74, Number 208)]
[Notices]               
[Page 55875-55876]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29oc09-117]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60863; File No. SR-BX-2009-055]

 
Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Order 
Approving a Proposed Rule Change To Retroactively Correct an Error in 
Rule 7018

October 22, 2009.
    On August 28, 2009, NASDAQ OMX BX, Inc. (the ``Exchange'' or 
``BX'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to apply retroactively to the period from April 1, 
2009 through August 16, 2009 the correction made by SR-BX-2009-049 \3\ 
of an error formerly in Rule 7018. BX believes that all of its members 
that trade on the NASDAQ OMX BX Equities System are cognizant of the 
correct fee. BX has been billing members in accordance with the correct 
fee since the effective date of April 1, 2009 in a previous BX proposed 
rule change,\4\ but due to an error the credit incorrectly appeared as 
``$0.006'' in Exhibit 5 to the BX Fee Filing. Notice of the proposed 
rule change was published for comment in the Federal Register on 
September 17, 2009.\5\ The Commission received no comments on the 
proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 60603 (September 1, 
2009), 74 FR 46266 (September 8, 2009) (SR-BX-2009-049).
    \4\ See Securities Exchange Act Release No. 59682 (April 1, 
2009), 74 FR 16015 (April 8, 2009) (SR-BX-2009-018) (``BX Fee 
Filing'').
    \5\ See Securities Exchange Act Release No. 60634 (September 8, 
2009), 74 FR 47849.
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    After careful review, the Commission finds that the proposed rule 
change is consistent with the requirements of the Act and the rules and 
regulations thereunder applicable to a national securities exchange.\6\ 
In particular, the Commission finds that the proposed rule change is 
consistent with the requirements of Section 6(b)(5) of the Act,\7\ 
which requires, among other things, that the rules of a national 
securities exchange remove impediments to and perfect the mechanism of 
a free and open market and a national market system.
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    \6\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \7\ 15 U.S.C. 78f(b)(5).
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    The Commission believes the proposed rule change matches both the

[[Page 55876]]

original intent of the BX Fee Filing and the fee BX currently charges 
its members. The proposed rule change will retroactively correct the 
error by assessing the fees pursuant to the now accurate Rule 7018. The 
Commission believes it is important for BX's rules to be accurate and 
applied correctly in order to remove impediments to and perfect the 
mechanism of a free and open market and a national market system.
    It is therefore ordered, pursuant to Section 19(b)(2) of the Act, 
that the proposed rule change (SR-BX-2009-055), be and hereby is 
approved.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-26023 Filed 10-28-09; 8:45 am]

BILLING CODE 8011-01-P