[Federal Register Volume 75, Number 94 (Monday, May 17, 2010)]
[Notices]
[Pages 27609-27610]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-11648]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62071; File No. SR-NYSEArca-2010-40]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Rule Change Amending Its Fee Schedule
May 11, 2010.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on April 30, 2010, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``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.
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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 amend its Schedule of Fees and Charges for
Exchange Services (the ``Schedule''). While changes to the Schedule
pursuant to this proposal will be effective upon
[[Page 27610]]
filing, the changes will become operative on May 1, 2010. The text of
the proposed rule change is available on the Exchange's Web site at
http://www.nyse.com, at the Exchange's principal office, on the
Commission's Web site at http://www.sec.gov 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 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to change the rates for orders routed to the
NYSE in conjunction with similar pricing changes the NYSE is making
operative from May 1, 2010. Under this proposal, the Tier 1 and Tier 2
rate for orders routed to the NYSE will be $0.0021 per share.
Previously the rate was set at $0.0018 per share. Similarly, the non-
tier rate for routing to the NYSE will go from $0.0020 per share to
$0.0023 per share. The Exchange also proposes to change the rates for
PO+ orders routed to the NYSE in Tape A securities. Under this
proposal, the rebate for PO+ Orders that provide liquidity to the Book
is $0.0013 per share and the fee for removing liquidity is $0.0021 per
share. Previously the rebate for PO+ Orders providing liquidity was
$0.0010 per share and the fee for removing liquidity was $0.0018 per
share. Finally, the Exchange proposes to change the rates for Primary
Sweep Orders (``PSO'') in Tape A securities. Under this proposal, the
fee for routing a PSO Order to the NYSE in Tape A securities will be
0.0019 per share. Previously the fee was set at $0.0016 per share.
The proposed changes coincide with the pricing changes that the
NYSE is making operative from May 1, 2010. The Exchange believes the
proposed fees are reasonable and equitable in that they apply uniformly
to all similarly situated ETP Holders. The proposed changes will also
become operative on May 1, 2010.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6(b) of the Securities Exchange Act of
1934 (the ``Act''),\4\ in general, and Section 6(b)(4) of the Act,\5\
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 proposed changes
coincide with the pricing changes that the NYSE is making. The proposed
changes to the Schedule are reasonable and equitable in that they apply
uniformly to all similarly situated ETP Holders.
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\4\ 15 U.S.C. 78f(b).
\5\ 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) \6\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \7\ thereunder, because it establishes a due, fee, or other charge
imposed by NYSE Arca on its members.
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\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 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 [email protected]. Please include
File Number SR-NYSEArca-2010-40 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-NYSEArca-2010-40. 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 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 Arca'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-NYSEArca-2010-40 and should
be submitted on or before June 7, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-11648 Filed 5-14-10; 8:45 am]
BILLING CODE 8010-01-P