Document ID: SEC-2009-0935-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change Amending the Linkage Fees Portion of the Schedule of Fees and Charges for Exchange Services
Posted Date: 2009-07-09T04:00Z

[Federal Register: July 9, 2009 (Volume 74, Number 130)]
[Notices]               
[Page 33005-33006]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr09jy09-134]                         

[[Page 33005]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60226; File No. SR-NYSEAmex-2009-33]

 
Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing 
and Order Granting Accelerated Approval of Proposed Rule Change 
Amending the Linkage Fees Portion of the Schedule of Fees and Charges 
for Exchange Services

July 1, 2009.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given 
that on June 26, 2009, the NYSE Amex LLC (``NYSE Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I and II 
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 and grant 
accelerated approval of the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 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 [sic] the Linkage Fees portion of the 
Schedule of Fees and Charges for Exchange Services (``Schedule''). The 
Exchange intends for these changes to become operative on July 1, 2009 
in conjunction with changes to the equivalent transaction fees. The 
text of the proposed rule change is attached as Exhibit 5 to the 19b-4 
form. A copy of this filing is available on the Exchange's Web site at 
http://www.nyse.com, at the Exchange's principal office 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 III below, and the most significant 
aspects of such statements are set forth in Sections A, B, and C below.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this filing is to amend the existing Schedule in 
order to revise the Linkage Fees portion of the Schedule, so as to 
match the fee changes the Exchange has proposed in a separate filing 
concerning certain Broker Dealer and Firm executions.
    Executions on NYSE Amex resulting from orders sent via the 
InterMarket Linkage System (``Linkage Orders'') are presently subject 
to the same billing treatment as other Broker Dealer and Firm orders. 
In a separate filing, the Exchange proposed to charge $0.15 for 
electronic Broker Dealer and Firm transactions. By this filing, the 
Exchange proposes to match the Linkage Fees to the electronic Broker 
Dealer and Firm charges and now charge $0.15 per contract for 
electronically executed Linkage orders. The Exchange intends to 
implement this new Linkage fee in conjunction with the implementation 
of the new transaction fees on July 1, 2009.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section 
6(b) of the Act,\4\ in general, and Section 6(b)(5) [sic], in 
particular, in that it provides for the equitable allocation of 
reasonable dues, fees and other charges among its members and other 
persons using its facilities for the purpose of executing Linkage 
orders that are routed to the Exchange from other market centers.
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    \4\ 15 U.S.C. 78f.
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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. 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 (www.sec.gov/
rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NYSEAmex-2009-33 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-2009-33. 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 am and 3 pm. Copies of the 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 available publicly. All 
submissions should refer to File Number SR-NYSEAmex-2009-33 and should 
be submitted on or before July 30, 2009.

IV. Commission's Findings and Order Granting Accelerated Approval of 
the Proposed Rule Change

    After careful consideration, the Commission finds that the proposed 
rule change is consistent with the requirements of the Act and the 
rules and regulations thereunder applicable to

[[Page 33006]]

a national securities exchange.\5\ In particular, the Commission finds 
that the proposed rule change is consistent with Section 6(b)(4) of the 
Act,\6\ which requires that the rules of an exchange 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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    \5\ In approving this rule change, the Commission notes that it 
has considered the proposed rule's impact on efficiency, 
competition, and capital formation. See 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b)(5).
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    The Commission finds good cause for approving this proposal before 
the 30th day after the publication of notice thereof in the Federal 
Register. The proposal seeks to conform Linkage Fees with the fees 
charged on other Broker Dealer and Firm executions. The Exchange plans 
to implement this new Linkage Fee in conjunction with the 
implementation of the new transactions fees on July 1, 2009.\7\ The 
reduction of transactions fees charged on Linkage Orders to conform 
with the fees charged on other Broker Dealer and Firm executions does 
not appear to present any new or significant regulatory concerns. 
Therefore, the Commission believes that accelerating approval of this 
proposal would allow the Exchange to implement this new lower Linkage 
Fee in conjunction with the implementation of the new transactions fees 
on July 1, 2009.
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    \7\ See SR-NYSEAmex-2009-38
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V. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\8\ that the proposed rule change (SR-NYSEAmex-2009-33) be, and it 
hereby is, approved on an accelerated basis.
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    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-16188 Filed 7-8-09; 8:45 am]

BILLING CODE 8010-01-P