Document ID: SEC-2009-0302-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Alternext US, LLC
Posted Date: 2009-03-06T05:00Z

[Federal Register: March 6, 2009 (Volume 74, Number 43)]
[Notices]               
[Page 9856-9857]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr06mr09-67]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59481; File No. SR-NYSEALTR-2009-20]

 
Self-Regulatory Organizations; NYSE Alternext US, LLC; Notice of 
Filing and Order Granting Accelerated Approval of Proposed Rule Change 
as Modified by Amendment No. 1 Amending Its Schedule of Fees and 
Charges for Exchange Services

March 2, 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 February 27, 2009, NYSE Alternext US LLC (``NYSE Amex 
Options'' or ``Exchange'') filed with the Securities and Exchange 
Commission (``Commission'') the proposed rule change as described in 
Items I and II below, which Items have been prepared by the self-
regulatory organization. On March 2, 2009, the Exchange filed Amendment 
No. 1 to the proposed rule change. The Commission is publishing this 
notice to solicit comments on the proposed rule change, as amended, 
from interested persons and is approving the proposed rule change, as 
modified by Amendment No. 1, on an accelerated basis.
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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 Schedule of Fees and Charges for 
Exchange Services. The text of the new Schedule 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 those statements may be examined at 
the places specified in Item III 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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this filing is to amend the existing Fee Schedule in 
order to reduce the Linkage Fee rates that are currently applied from 
$0.60 to $0.50. The proposed $0.50 fee will match the $0.50 fee charged 
to Broker Dealers executing electronic orders on the Exchange. All 
Linkage orders executed on the Exchange will be executed 
electronically. Absent this filing, orders that access the Exchange via 
Linkage will be charged more than similar electronic transactions on 
the Exchange.
    The Exchange plans to implement the new Fee Schedule on the first 
day of trading on the new NYSE Amex Options trading floor at 11 Wall 
Street, currently scheduled for March 2, 2009.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section 
6(b) of the Act,\3\ in general, and Section 6(b)(4),\4\ 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. This proposal decreases the 
Linkage Fee for Users. Absent this filing, orders that access the 
Exchange via Linkage will be charged more than similar electronic 
transactions executed on the Exchange.
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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.

[[Page 9857]]

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 (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NYSEALTR-2009-20 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth Murphy, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSEALTR-2009-20. 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 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 NYSE Amex Options' principal office and 
on its Internet Web site at http://www.nyse.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-NYSEALTR-2009-20 and should be submitted 
on or before March 27, 2009.

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

    After careful consideration, the Commission finds that the proposed 
rule change is consistent with the requirement of the Act and the rules 
and regulations thereunder applicable to a national securities exchange 
\5\ and, in particular, with the requirements of Section 6(b) of the 
Act.\6\ In particular, the Commission finds that the Exchange's 
proposal is consistent with Section 6(b)(4) of the Act,\7\ which 
requires that the rules of the Exchange provide for the equitable 
allocation of reasonable dues, fees, and other charges among its 
members and other persons using its facilities. The Commission notes 
that the proposal conforms Linkage Fees to those fees charged on other 
electronic broker-dealer executions.
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    \5\ In approving this rule, the Commission notes that it has 
considered its impact on efficiency, competition, and capital 
formation. 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(4).
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    The Commission finds good cause, pursuant to Section 19(b)(2) of 
the Act,\8\ for approving the proposed rule change prior to the 30th 
day after the date of publication of the notice of the filing thereof 
in the Federal Register. The Commission notes that this proposed rule 
change seeks to lower the Linkage Fees from $0.60 to $0.50 to match the 
$0.50 fee charged to Broker Dealers executing electronic orders on the 
Exchange. Absent this filing, orders that access the Exchange via 
Linkage will be charged more than similar electronic transactions 
executed on the Exchange.\9\ Further, this proposed fee structure is 
similar to that of NYSE Arca Options.
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    \8\ 15 U.S.C. 78s(b)(2).
    \9\ See SR-NYSEALTR-2009-19.
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V. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the Act 
\10\ that the proposed rule change (SR-NYSEALTR-2009-20), as amended by 
Amendment No. 1, is hereby approved on an accelerated basis to be 
effective on March 2, 2009.
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    \10\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-4777 Filed 3-5-09; 8:45 am]

BILLING CODE 8011-01-P