Document ID: SEC-2008-0289-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NASDAQ Stock Market LLC
Posted Date: 2008-02-25T05:00Z

[Federal Register: February 25, 2008 (Volume 73, Number 37)]
[Notices]               
[Page 10080]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25fe08-131]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57347; File No. SR-NASDAQ-2007-100]

 
Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order 
Approving Proposed Rule Change to Nasdaq Rule 7033 To Modify the Fees 
Charged for the Mutual Fund Quotation Service and To Correct Certain 
Errors in the Rule Manual

February 19, 2008.
    On December 19, 2007, The NASDAQ Stock Market LLC (``Nasdaq'') 
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 
modify the fees charged for the Mutual Fund Quotation Service and to 
correct certain errors in the rule manual. The proposed rule change was 
published for comment in the Federal Register on January 14, 2008.\3\ 
The Commission received no comments regarding 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. 57105 (January 4, 
2008), 73 FR 2296.
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    The Commission has carefully reviewed the proposed rule change and 
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 \4\ and, in particular, Section 6(b)(4) of 
the Act,\5\ which requires that Nasdaq's rules provide for the 
equitable allocation of reasonable dues, fees, and other charges among 
its members and issuers and other persons using its facilities. Nasdaq 
proposes to amend Rule 7033 to include subsection (e), which provides 
for the assessment of a monthly fee on distributors of the Mutual Fund 
Quotation Service. When Nasdaq began operating as a national securities 
exchange in 2006, it adopted as its own rules numerous rules of the 
National Association of Securities Dealers, Inc. (``NASD''). Due to the 
omission of this subsection from the NASD manual, however, Nasdaq 
failed to include this subsection in its manual. The Commission 
believes that it is appropriate for Nasdaq to amend Rule 7033 to 
include subsection (e), as this corrects an omission in Nasdaq's rules. 
Nasdaq requested that the change be approved retroactive to August 1, 
2006, the date Nasdaq began operating as an exchange. Nasdaq also 
proposes to modify the fees for the News Media and Supplemental Lists 
to reflect the similarity of effort in providing these services, 
effective retroactively to January 1, 2008. The Commission believes 
that it is reasonable to modify the prices charged for the News Media 
and Supplemental Lists to reflect the increased services provided by 
Nasdaq in connection with the Supplemental List, and a uniformity of 
effort in providing both services.
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    \4\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(4).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the Act, 
that the proposed rule change (SR-NASDAQ-2007-100) be, and it hereby 
is, approved.
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    \6\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-3430 Filed 2-22-08; 8:45 am]

BILLING CODE 8011-01-P