This PDF is the current document as it appeared on Public Inspection on 05/07/2012 at 08:45 am.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”), and Rule 19b-4 thereunder, notice is hereby given that on April 27, 2012, 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 the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change
The Exchange proposes to increase the login fee within the NYSE Amex Options Fee Schedule (“Fee Schedule”) and to make this increase operative on May 1, 2012. The text of the proposed rule change is available at the Exchange, the Commission's Public Reference Room, and 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
The Exchange is proposing to increase the login fee within the Fee Schedule and to make this increase operative on May 1, 2012.
The Exchange currently charges Floor brokers a $150 per month login fee for access to the Floor broker Workstation (“FBW”), which is an Exchange-sponsored Floor broker order entry system. In addition to enabling Floor brokers to electronically submit orders to the Exchange, the FBW contributes to Floor brokers complying with various Exchange rules, such as the order format and system entry requirements of NYSE Amex Options Rule 955NY.
The Exchange proposes to increase the login fee from $150 per login per month to $215 per login per month. This proposed increase, which would be the first in the more than three years since the login fee was implemented, would permit the Exchange to offset the increase in the Exchange's cost to make the FBW available to Floor brokers and would also permit the Exchange to continue to make enhancements and upgrades to the FBW available to Floor brokers.
The Exchange proposes that the increase to the login fee become effective on May 1, 2012.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (the “Act”), in general, and furthers the objectives of Section 6(b)(4) of the Act, in particular, because it provides for the equitable allocation of reasonable dues, fees, and other charges among its members, issuers and other persons using its facilities. Specifically, the Exchange believes that the proposed rule change is reasonable, equitable and not unfairly discriminatory because it would permit the Exchange to offset the increase in the Exchange's cost to make the FBW available to Floor brokers. The Exchange also believes that the proposed rule change is reasonable, equitable and not unfairly discriminatory because it would permit the Exchange to continue to make enhancements and upgrades to the FBW available to Floor brokers. Additionally, the Exchange believes that the proposed rule change is reasonable, equitable and not unfairly discriminatory because the login fee, and the proposed increase thereof, is applicable to all Floor brokers that receive access to the FBW.
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)  of the Act and subparagraph (f)(2) of Rule 19b-4  thereunder, because it establishes a due, fee, or other charge imposed by the NYSE Amex.
At any time within 60 days of the filing of such 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.
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:
- Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml ); or
- Send an email to firstname.lastname@example.org. Please include File Number SR-NYSEAmex-2012-27 on the subject line.
- 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-2012-27. This file number should be included on the subject line if email 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 10:00 a.m. and 3:00 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 available publicly. All submissions should refer to File Number SR-NYSEAmex-2012-27 and should be submitted on or before May 29, 2012.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.
Kevin M. O'Neill,
3. See Securities Exchange Act Release No. 59478 (February 27, 2009), 74 FR 9857 (March 6, 2009) (SR-NYSEALTR-2009-19).Back to Citation
[FR Doc. 2012-11000 Filed 5-7-12; 8:45 am]
BILLING CODE 8011-01-P