Document ID: SEC-2009-0669-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Amex LLC Making Certain Amendments to Its Price List
Posted Date: 2009-05-14T04:00Z

[Federal Register: May 14, 2009 (Volume 74, Number 92)]
[Notices]               
[Page 22785-22786]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr14my09-83]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59883; File No. SR-NYSEAmex-2009-16]

 
Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by NYSE Amex LLC Making Certain 
Amendments to Its Price List

May 7, 2009.
    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 April 30, 2009, NYSE Amex LLC (``NYSE Amex'' or the 
``Exchange'') filed with the Securities and Exchange Commission (the 
``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 proposes to amend its price list to (i) clarify that 
non-electronic agency transactions of less than 10,000 shares between 
floor brokers in the crowd are not subject to any transaction fee, (ii) 
clarify that brokers are charged a discounted fee of $0.0005 per share 
for Discretionary e-Quotes and verbal agency interest when taking 
liquidity from the Exchange, and (iii) to remove references to the 
payment of rebates applicable to the period prior to the implementation 
of the Capital Commitment Schedule that are no longer relevant. 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 proposes to modify the 2009 NYSE Amex Price List to 
clarify that non-electronic agency transactions of less than 10,000 
shares between floor brokers in the crowd are not subject to any 
transaction fee. The 2009 NYSE Amex Price List does not currently 
reference any fee for these transactions and the Exchange treats them 
the same as non-electronic agency transactions of more than 10,000 
shares, which are free of charge. The amended 2009 NYSE Amex Price List 
will state that any non-electronic agency transaction between brokers 
in the crowd is free of charge, regardless of size.
    The current NYSE Amex price list does not state a fee policy with 
respect to Discretionary e-Quotes and orders submitted by floor brokers 
as verbal agency interest. The Exchange's current practice with respect 
to such orders is to charge the floor broker $0.0005 per share or, in 
the case of securities with a trading price of less than $1.00, the 
lesser of (i) $0.0005 per share or (ii) 0.25% of the dollar value of 
the transaction. The current NYSE Amex Price List does not state this 
fee policy. The Exchange is amending its price list to specifically 
state this policy.
    Footnote 5 in the current 2009 NYSE Amex Price List states that 
Designated Market Makers receive rebates under several circumstances 
when providing liquidity on non-displayed interest using the Capital 
Commitment Schedule, or, prior to the implementation of the Capital 
Commitment Schedule, using the following message activities: price 
improvement, size improvement (PRIN FILL), matching away market quotes. 
As the Capital Commitment Schedule has been implemented, the text 
dealing with the payment of rebates in the period prior to its 
implementation is no longer relevant and the Exchange proposes to 
delete it.
    The subheading ``Transactions in Securities with a Per Share Price 
Above $1.00'' is modified to clarify that it applies to all 
transactions in securities with a price equal to or greater than $1.00. 
It will now read as follows: ``Transactions in Securities with a Per 
Share Price of $1.00 or more.''
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 of the Act,\3\ in general, and Section 
6(b)(4) of the Act,\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(b).
    \4\ 15 U.S.C. 78f(b)(4).
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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) \5\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \6\ thereunder, because it establishes a due, fee, or other charge 
imposed by NYSE Amex.
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(2).
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    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.

[[Page 22786]]

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-NYSEAmex-2009-16 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-NYSEAmex-2009-16. 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-NYSEAmex-2009-16 and should 
be submitted on or before June 4, 2009.

    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. E9-11227 Filed 5-13-09; 8:45 am]

BILLING CODE 8010-01-P