Document ID: SEC-2010-0830-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: International Securities Exchange, LLC
Posted Date: 2010-06-08T04:00Z

[Federal Register: June 8, 2010 (Volume 75, Number 109)]
[Notices]               
[Page 32531-32532]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08jn10-161]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62195; File No. SR-ISE-2010-46]

 
Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change Relating to Fee Changes

May 28, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on May 18, 2010, the International Securities Exchange, LLC (the 
``Exchange'' or the ``ISE'') 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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is proposing to amend its Schedule of Fees. The text 
of the proposed rule change is available on the Exchange's Web site at 
http://www.ise.com, at the principal office of the Exchange, on the 
Commission's Web site at http://www.sec.gov, 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, 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 these statements may be examined at 
the places specified in Item IV below. The self-regulatory organization 
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

    (a) Purpose--The Exchange currently identifies on its Schedule of 
Fees certain ETF products whose options are listed only on ISE and for 
which the Exchange charges a fee of $0.18 per contract for customer 
transactions. Currently, the First Trust ISE Water ETF (``FIW''), the 
Claymore China Technology ETF (``CQQQ''), the ProShares UltraPro Short 
Dow30 (``SDOW''), the ProShares UltraPro Dow30 (``UDOW''), the 
ProShares UltraPro Short MidCap400 (``SMDD''), the ProShares UltraPro 
MidCap400 (``UMDD''), the ProShares UltraPro Short Russell2000 
(``SRTY''), the ProShares UltraPro Russell2000 (``URTY''), the First 
Trust ISE Global Copper Index Fund (``CU'') and the First Trust ISE 
Global Platinum Index Fund (``PLTM'') are the only such ETFs listed on 
the Exchange's fee schedule. On May 18, 2010, ISE began listing options 
on the First Trust Amex Biotechnology Index Fund (``FBT''), the First 
Trust Financials AlphaDEX Fund (``FXO'') and the First Trust NASDAQ 100 
Weighted Index Fund (``QQEW''). As of the date of this filing, FBT, FXO 
and QQEW are singly listed on ISE. The Exchange therefore proposes to 
charge a fee of $0.18 per contract for customer transactions in options 
on FBT, FXO and QQEW. The Exchange also proposes to charge a Payment 
for Order Flow fee for transactions in options on these products.
    (b) Basis--The Exchange believes that the proposed rule change is 
consistent with the objectives of Section 6 of the Act,\3\ in general, 
and furthers the objectives of Section 6(b)(4),\4\ in particular, in 
that it is designed to provide for the equitable allocation of 
reasonable dues, fees and other charges among its members and other 
persons using its facilities.
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    \3\ 15 U.S.C. 78f.
    \4\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The proposed rule change does not 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 not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any unsolicited written comments from members or other interested 
parties.

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) of

[[Page 32532]]

the Act \5\ and Rule 19b-4(f)(2) \6\ thereunder. At any time within 60 
days of the filing of such 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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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 19b-4(f)(2).
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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 rule-comments@sec.gov. Please include 
File Number SR-ISE-2010-46 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-ISE-2010-46. 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 Web site 
viewing and printing in the Commission's Public Reference Section, 100 
F Street, NE., Washington, DC 20549-1090 on official business days 
between the hours of 10 a.m. and 3 p.m. Copies of the filing will also 
be available for inspection and copying at ISE's principal office and 
on its Internet Web site at http://www.ise.com. 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-ISE-2010-46 and should be submitted on 
or before June 29, 2010.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-13664 Filed 6-7-10; 8:45 am]
BILLING CODE 8010-01-P