Document ID: SEC-2010-1124-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Amex LLC
Posted Date: 2010-07-26T04:00Z

[Federal Register: July 26, 2010 (Volume 75, Number 142)]
[Notices]               
[Page 43587-43588]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr26jy10-97]                         

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62526; File No. SR-NYSEAmex-2010-68]

 
Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Amending Its Fee 
Schedule

July 19, 2010.
    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 July 7, 2010, NYSE Amex LLC (the ``Exchange'' or the ``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 the self-regulatory 
organization. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to temporarily suspend the collection of 
marketing charges on Customer orders that trade within the Complex 
Matching Engine contra to a Market Maker. Concurrent with this change 
we are also proposing to reduce some of the transaction fees associated 
with executions in the Complex Matching Engine.
    A copy of this filing is available on the Exchange's Web site at 
http://www.nyse.com, on the Commission's Internet Web site at http://
www.sec.gov, 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 IV below. The self-regulatory organization 
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
    The Exchange is proposing to temporarily suspend the collection of 
marketing charges on Customer orders that trade within the Complex 
Matching Engine contra to a Market Maker. At present, our marketing 
charges program is designed to allow for the collection of marketing 
charges from Market Makers who trade contra to electronic Customer 
orders. The marketing charges accrue to either the Directed Order 
Market Maker or in the case of a non-directed order, the Specialist or 
e-Specialist that is in control of the pool of marketing charge monies 
that accrue from non-directed order flow.
    Within our Complex Matching Engine we presently do not have 
functionality that would permit Market Makers to receive Directed 
Orders and therefore control the marketing charges associated with 
those directed Customer orders. Given this limitation, the Exchange 
feels it is appropriate to suspend the collection of marketing charges 
for electronic Customer orders executed in the Complex Matching Engine 
until such a time that we can offer Directed Order functionality within 
the Complex Matching Engine. Once we create functionality that will 
allow Directed Order Market Makers can [sic] receive Complex Directed 
Orders that execute within the Complex Matching Engine, the Exchange 
will file at that time to reinstate the collection of marketing 
charges.
    Concurrent with this change in marketing charges, the Exchange is 
also proposing to reduce the transaction charges associated with 
receiving an

[[Page 43588]]

execution in the Complex Matching Engine. Presently, the Exchange 
charges all participants $.10 per contract except for when orders that 
originate from the same firm interact with each other in which case the 
charge is $.05 per contract. The Exchange intends to reduce the charge 
for all participants to $.05 per contract for executions received in 
the Complex Matching Engine regardless of whether the orders originate 
from the same firm or not.
    These changes are intended to be effective immediately for all 
transactions beginning July 7, 2010.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the provisions of Section 6 of the Act,\3\ in general, and Section 
6(b)(4) of the Act,\4\ 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.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f.
    \4\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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 has become effective upon filing pursuant 
to Section 19(b)(3)(A) of the Act \5\ and subparagraph (f)(2) of Rule 
19b-4 \6\ thereunder, because it establishes a due, fee, or other 
charge imposed by the NYSE Amex.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of such 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-2010-68 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-2010-68. 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 Web site 
viewing and printing 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 filing also will be 
available for inspection and copying at NYSE's 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-NYSEAmex-2010-68 and should be submitted 
on or before August 16, 2010.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 15 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-18165 Filed 7-23-10; 8:45 am]
BILLING CODE 8010-01-P