Document ID: SEC-2009-1288-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Correct an Error in Rule 7018
Posted Date: 2009-09-08T04:00Z

[Federal Register: September 8, 2009 (Volume 74, Number 172)]
[Notices]               
[Page 46266-46267]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08se09-139]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60603; File No. SR-BX-2009-049]

 
Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change To Correct 
an Error in Rule 7018

September 1, 2009
    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 August 17, 2009, NASDAQ OMX BX, Inc. (``BX'') 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 Exchange. The Commission is publishing this notice 
to solicit comments on the proposed rule 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

    BX is filing a proposed rule change to correct a typographical 
error in Rule 7018. The text of the proposed rule change is attached as 
Exhibit 5 \3\ and is available at http://nasdaqomxbx.cchwallstreet.com.
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    \3\ The Commission notes that Exhibit 5 is attached to the 
filing, but is not attached to this Notice.
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II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, BX 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. BX 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

1. Purpose
    BX is submitting this filing to correct a typographical error in 
Rule 7018.\4\ In SR-BX-2009-018,\5\ BX modified its pricing for 
execution of orders in securities listed on The NASDAQ Stock Market 
(``NASDAQ'') and the New York Stock Exchange (``NYSE'') by, among other 
things, replacing a charge to access liquidity of $0.0014 per share 
executed with a credit of $0.0006 per share executed. This change was 
accurately described in the ``Purpose'' section of BX's Form 19b-4 
filing,\6\ in the Commission's notice of the filing on the SEC Web site 
\7\ and in the Federal Register,\8\ in widely disseminated 
announcements of the pricing change,\9\ and in the pricing schedule 
that appears on BX's market Web site.\10\ However, due to a 
typographical error, the credit incorrectly appeared as ``$0.006'' in 
Exhibit 5 to the filing. Accordingly, BX is submitting this filing to 
correct the typographical error. BX has been billing members in 
accordance with the correct fee since the effective date of the change 
in April 2009, and accordingly believes that all of its members that 
trade on the NASDAQ OMX BX Equities System are cognizant of the correct 
fee.
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    \4\ The Commission notes that, as with all filings submitted 
under Section 19(b)(3)(A) of the Act, the filing is effective on the 
date it was filed, in this case August 17, 2009.
    \5\ Securities Exchange Act Release No. 59682 (April 1, 2009), 
74 FR 16015 (April 8, 2009) (SR-BX-2009-018).
    \6\ See http://nasdaqomxbx.cchwallstreet.com/NASDAQOMXBX/pdf/bx-
filings/2009/SR-BX-2009-018.pdf.
    \7\ See http://www.sec.gov/rules/sro/bx/2009/34-59682.pdf.
    \8\ See Securities Exchange Act Release No. 59682 (April 1, 
2009), 74 FR 16015 (April 8, 2009) (SR-BX-2009-018).
    \9\ See http://www.nasdaqtrader.com/TraderNews.aspx?id=ETA2009-
16.
    \10\ See http://www.nasdaqtrader.com/Trader.aspx?id=bx_pricing.
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2. Statutory Basis
    BX believes that the proposed rule change is consistent with the 
provisions of Section 6 of the Act,\11\ in general, and with Section 
6(b)(5) of the Act,\12\ in particular, in that it is designed to remove 
impediments to and perfect the mechanism of a fee [sic] and open market 
and a national market system. The proposed rule change corrects a 
typographical error in BX Rule 7018.
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    \11\ 15 U.S.C. 78f.
    \12\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    BX does not believe that the proposed rule change will result in 
any burden on competition that is not necessary or appropriate in 
furtherance of the purposes of the Act, as amended.

[[Page 46267]]

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    Written comments were neither solicited nor received.

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)(A)(iii) of the Act \13\ and subparagraph (f)(3) of Rule 19b-4 
thereunder.\14\ 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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    \13\ 15 U.S.C. 78s(b)(3)(a)(iii).
    \14\ 17 CFR 240.19b-4(f)(3).
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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-BX-2009-049 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-BX-2009-049. 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-BX-2009-049 and should be 
submitted on or before September 29, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\15\
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    \15\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-21667 Filed 9-4-09; 8:45 am]

BILLING CODE 8010-01-P