Document ID: SEC-2009-0873-0001
Agency: sec
Document Type: Notice
Title: Consolidated Tape Association; Notice of Filing of the Eleventh Charges Amendment to the Second Restatement of the Consolidated Tape Association Plan To Waive the Automatic Annual Increase in the Enterprise Cap for 2008
Posted Date: 2009-06-29T04:00Z

[Federal Register: June 29, 2009 (Volume 74, Number 123)]
[Notices]               
[Page 31076-31077]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29jn09-110]                         

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60154; File No. SR-CTA-2008-01]

 
Consolidated Tape Association; Notice of Filing of the Eleventh 
Charges Amendment to the Second Restatement of the Consolidated Tape 
Association Plan To Waive the Automatic Annual Increase in the 
Enterprise Cap for 2008

June 19, 2009.
    Pursuant to Section 11A of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 608 thereunder,\2\ notice is hereby given that 
on June 7, 2009, the Consolidated Tape Association (``CTA'') Plan 
Participants (``Participants'') \3\ filed with the Securities and 
Exchange Commission (``Commission'') a proposal to amend the Second 
Restatement of the CTA Plan (the ``CTA Plan'').\4\ The proposal 
represents the eleventh charges amendment to the Plan (``Eleventh 
Charges Amendment'') and reflects changes unanimously adopted by the 
Participants. The Eleventh Charges Amendment would waive the Automatic 
Annual Increase for 2008 in the maximum monthly charge that a broker-
dealer is required to pay in respect of the aggregate amount of Network 
A display-device charges and per-quote-packet charges that a broker-
dealer pays in respect of nonprofessional subscribers that maintain 
brokerage accounts with the broker-dealers (the ``Enterprise Cap''). 
The Commission is publishing this notice to solicit comments from 
interested persons on the proposed Eleventh Charges Amendment to the 
CTA Plan.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ Each Participant executed the proposed amendment. The 
Participants are the American Stock Exchange LLC (n/k/a NYSE Amex 
LLC); Boston Stock Exchange, Inc. (n/k/a NASDAQ OMX BX, Inc.); 
Chicago Board Options Exchange, Incorporated; Chicago Stock 
Exchange, Inc.; Financial Industry Regulatory Authority, Inc., 
International Securities Exchange, LLC; The NASDAQ Stock Market LLC; 
National Stock Exchange, Inc.; New York Stock Exchange LLC 
(``NYSE''); NYSE Arca, Inc.; and Philadelphia Stock Exchange, Inc. 
(n/k/a NASDAQ OMX PHLX, Inc.).
    \4\ The proposal was originally submitted on June 19, 2008. 
However, it was refiled on June 7, 2009 with appropriate exhibits.
---------------------------------------------------------------------------

I. Rule 608(a)

A. Description and Purpose of the Amendment

    The Plan currently caps the maximum monthly charge that a broker-
dealer is required to pay in respect of the aggregate amount of: (1) 
Network A display-device charges for devices that the broker-dealer's 
officers, partners and employees use; plus (2) Network A display-device 
and per-quote-packet charges that the broker-dealer pays in respect of 
services that it provides to nonprofessional subscribers that are 
brokerage account customers of the broker-dealer.\5\
---------------------------------------------------------------------------

    \5\ Enterprise Cap found in Schedule A-1 of Exhibit E to the CTA 
Plan.
---------------------------------------------------------------------------

    Footnote 5 to Schedule A-1 of Exhibit E to the CTA Plan subjects 
the Enterprise Cap to an automatic annual increase. The automatic 
annual increase is equal to ``the percentage increase in the annual 
composite share volume for the preceding calendar year, subject to a 
maximum annual increase of five percent.''
    Through this amendment, the Participants propose to amend the CTA 
Plan to waive the automatic annual increase in the Enterprise Cap for 
2008. As a result, the monthly fee will remain at $660,000 for 2008, 
the same amount as for 2007. The waiver applies to the Enterprise Cap 
only, and not to the ``Television Ticker Maximum,'' also set forth in 
Footnote 6 to Schedule A-1 of Exhibit E to the CTA Plan. The amendment 
also proposes to update Footnote 6 by applying the automatic annual 
increase to the ``Television Ticker Maximum,'' by bringing that monthly 
fee to $157,000 for 2008.
    The text of the proposed Amendment is available on the CTA's Web 
site (http://www.nysedata.com/cta), at the principal office of the CTA, 
and at the Commission's Public Reference Room.

B. Additional Information Required by Rule 608(a)

1. Governing or Constituent Documents
    Not applicable.
2. Implementation of the Amendment
    The Participants propose to implement the change upon receipt of 
Commission approval of the Amendment.
3. Development and Implementation Phases
    See Item I(B)(2) above.
4. Analysis of Impact on Competition
    The amendment will impose no burden on competition.
5. Written Understanding or Agreements Relating to Interpretation of, 
or Participation in, Plan
    The Participants have no written understandings or agreements 
relating to interpretation of the CTA Plan as a result of the 
amendment.
6. Approval by Sponsors in Accordance With Plan
    Under Section IV(b) of the CTA Plan, each Plan Participant must 
execute a written amendment to the CTA Plan before the amendment can 
become effective. The amendment is so executed.
7. Description of Operation of Facility Contemplated by the Proposed 
Amendment
a. Terms and Conditions of Access
    Not applicable.
b. Method of Determination and Imposition, and Amount of, Fees and 
Charges
    Not applicable.
c. Method of Frequency of Processor Evaluation
    Not applicable.
d. Dispute Resolution
    Not applicable.

[[Page 31077]]

II. Rule 601(a)

A. Equity Securities for Which Transaction Reports Shall be Required by 
the Plan.

    Not applicable.

B. Reporting Requirements

    Not applicable.

C. Manner of Collecting, Processing, Sequencing, Making Available and 
Disseminating Last Sale Information

    Not applicable.

D. Manner of Consolidation

    Not applicable.

E. Standards and Methods Ensuring Promptness, Accuracy and Completeness 
of Transaction Reports

    Not applicable.

F. Rules and Procedures Addressed to Fraudulent or Manipulative 
Dissemination

    Not applicable.

G. Terms of Access to Transaction Reports

    Not applicable.

H. Identification of Marketplace Execution

    Not applicable.

III. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed 
Eleventh Charges Amendment 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-CTA-2008-01 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-CTA-2008-01. 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 Plan amendment that are filed 
with the Commission, and all written communications relating to the 
Plan amendment 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 the CTA Plan amendment also will be available for 
inspection and copying at the principal office of the CTA. 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-CTA-2008-01 and should be 
submitted on or before July 20, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
---------------------------------------------------------------------------

    \6\ 17 CFR 200.30-3(a)(27).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-15223 Filed 6-26-09; 8:45 am]

BILLING CODE 8010-01-P