[Federal Register Volume 76, Number 110 (Wednesday, June 8, 2011)]
[Notices]
[Pages 33378-33379]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-14035]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-64584; File No. SR-Phlx-2011-69]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX LLC To Conform
Exchange Rules
June 2, 2011.
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 May 25, 2011, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'') 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 Exchange. 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 amend its Fee Schedule and Exchange Rules
99, 274, 279, 501, 507, 510, 640, 722, 985, 1033, 1092, 1001A, 1047A,
3201, 3211, 3228, 3312, 3404 and 3405 to conform the text of the Fee
Schedule and Rules to a rule change that was recently approved by the
Commission.\3\
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\3\ See Securities Exchange Act Release No. 64338 (April 25,
2011), 76 FR 12180 (March 4, 2011) (SR-Phlx-2011-13).
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The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqtrader.com/micro.aspx?id=PHLXfilings, at the
principal office of the Exchange, 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 Exchange 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 Exchange 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 purpose of the proposed rule change is to conform the
Exchange's Fee Schedule and/or text of various Rules, as applicable, to
utilize language consistently throughout the Rulebook. The Exchange
recently filed a rule change, to among other things, change the name of
the Exchange's Board from a ``Board of Governors'' to a ``Board of
Directors'', eliminate references to foreign currency option
participations, and capitalize all uses of the word ``rule'' where that
word referred to an Exchange Rule.\4\
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\4\ Id.
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The Exchange proposes to amend the Fee Schedule and/or text of
various Rules, as applicable, to change references to a Board of
Governors to a Board of Directors and remove all references to foreign
currency options participations and participants. In addition, the
Exchange proposes to amend the Routing Fees in the Fee Schedule to
reorder the Routing Fees, specifically to move C2 after CBOE for ease
of reference.
Additionally, the Exchange proposes to amend Rules 99, 274, 279,
501, 507, 510, 640, 722, 985, 1033, 1092, 1001A, 1047A, 3201, 3211,
3228, 3312, 3404 and 3405 to capitalize all uses of the word ``rule''
where that word referred to an Exchange Rule. The Exchange
inadvertently did not amend the Rule references in the prior filing.\5\
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\5\ Id.
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2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \6\ in general, and furthers the objectives of Section
6(b)(5) of the Act \7\ in particular, in that it is designed to promote
just and equitable principles of trade, to remove impediments to and
perfect the mechanism of a free and open market and a national market
system, and, in general to protect investors and the public interest,
by conforming the language in the Exchange's Fee Schedule and Rules so
that it is consistent throughout. The Exchange believes that these
amendments will clarify the Exchange's Rules (including the Fee
Schedule) to the benefit of the membership. The Exchange believes that
making the rules consistent will eliminate confusion with respect to
the various references it is amending.
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\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
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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 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 either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Pursuant to Section 19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(1)
\9\ thereunder, the Exchange has designated this proposal as one that
constitutes a stated policy, practice or interpretation with respect to
the meaning, administration, or enforcement of an existing rule of the
SRO, and therefore has become effective.
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\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(1).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend 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. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
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
[[Page 33379]]
Send an e-mail to [email protected]. Please include
File Number SR-Phlx-2011-69 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-Phlx-2011-69. 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 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-Phlx-2011-69 and
should be submitted on or before June 29, 2011.
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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Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-14035 Filed 6-7-11; 8:45 am]
BILLING CODE 8011-01-P