Document ID: SEC-2009-0892-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Amex LLC
Posted Date: 2009-07-06T04:00Z

[Federal Register Volume 74, Number 127 (Monday, July 6, 2009)]
[Notices]
[Pages 32021-32022]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-15791]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60176; File No. SR-NYSEAmex-2009-30]

Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by NYSE Amex LLC To Extend 
Through September 30, 2009, Its Waiver of Registered Representative 
Fees for New York Stock Exchange Member Organizations

June 25, 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 June 23, 2009, NYSE Amex LLC (the ``Exchange'' or ``NYSE Amex'') 
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 NYSE Amex. 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 extend through September 30, 2009, its 
waiver of registered representative fees for New York Stock Exchange 
(``NYSE'') member organizations. The text of the proposed rule change 
is available at the Exchange, the Commission's Public Reference Room, 
and http://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
    In connection with the acquisition of the American Stock Exchange 
(renamed NYSE Amex after the acquisition) by NYSE Euronext, all 
equities trading conducted on or through the American Stock Exchange 
legacy trading systems and facilities located at 86 Trinity Place, New 
York, New York, was moved on December 1, 2008, to the NYSE trading 
facilities and systems located at 11 Wall Street, New York, New York 
(the ``NYSE Amex Trading Systems''), which are operated by the NYSE on 
behalf of NYSE Amex (the ``Equities Relocation''). At the time of the 
Equities Relocation, by operation of NYSE Amex Equities Rule 2, all 
NYSE member organizations automatically became NYSE Amex member 
organizations. By acquiring NYSE Amex membership, the NYSE member 
organizations that were not previously NYSE Amex members would become 
subject to the NYSE Amex registration fees for all of their employees 
who serve as registered representatives. As these NYSE member 
organizations that had no NYSE Amex business prior to the Equities 
Relocation became NYSE Amex members without any action on their own 
part, NYSE Amex waived the application of its registered representative 
fees to those firms for the month of December. At that time, NYSE Amex 
stated that it expected to submit a filing to adopt a revised 
registered representative fee commencing January 1, 2009.\3\ The waiver 
was subsequently extended until June 30, 2009.\4\ NYSE Amex has not yet 
determined how best to revise its registration fees in light of the 
accession to NYSE Amex membership of these NYSE member organizations. 
As such, NYSE Amex believes that it is appropriate to continue for the 
present its waiver of registered representative fees payable by member 
organizations which acquired their membership automatically in 
connection with the Equities Relocation. NYSE Amex will submit an 
amended filing to the Commission at such time as it wishes to end this 
waiver. In any event, the waiver as extended by this filing will expire 
on September 30, 2009. Consequently, NYSE Amex must submit a filing on 
or prior to that date to either adopt a new fee approach or to further 
extend the term of the waiver.
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    \3\ See Exchange Act Release 59045 (December 3, 2008), 73 FR 
75151 (December 10, 2008) (SR-NYSEALTR-2008-09).
    \4\ See Exchange Act Release 59170 (December 29, 2008), 74 FR 
486 (January 6, 2009) (SR-NYSEALTR-2008-19).
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    References to the Exchange in Footnote 2 of the NYSE Amex Options 
Price List are being changed in this filing from ``NYSE Alternext US'' 
and ``NYSE Alternext'' to ``NYSE Amex,'' to

[[Page 32022]]

properly reflect the Exchange's current name.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 \5\ of the Securities Exchange Act of 
1934 (the ``Act'') \6\ in general and Section 6(b)(4) of the Act \7\ 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. The Exchange believes that the 
proposal does not constitute an inequitable allocation of dues, fees 
and other charges as the waiver of registered representative fees 
applies only to firms that became NYSE Amex member organizations 
automatically without any action on their part and in spite of the fact 
that they did not conduct any NYSE Amex business.
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    \5\ 15 U.S.C. 78f.
    \6\ 15 U.S.C. 78a et seq.
    \7\ 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) \8\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \9\ thereunder, because it establishes a due, fee, or other charge 
imposed by NYSE Amex.
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    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 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.

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-2009-30 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-2009-30. 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-2009-30 and should 
be submitted on or before July 27, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-15791 Filed 7-2-09; 8:45 am]
BILLING CODE 8010-01-P