Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Implementation of Phase Two of the Options Penny Pilot, 17392-17393 [E8-6656]
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17392
Federal Register / Vol. 73, No. 63 / Tuesday, April 1, 2008 / Notices
will facilitate the listing and trading of
additional types of exchange-traded
products that will enhance competition
among market participants, to the
benefit of investors and the marketplace.
In addition, the listing and trading
criteria set forth in the proposal are
intended to protect investors and the
public interest.
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
The Exchange states that it has neither
solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the Exchange consents,
the Commission will:
A. By order approve such proposed
rule change, or
B. Institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
All submissions should refer to File
Number SR–NYSEArca–2008–29. 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 (https://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 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–NYSEArca–2008–29 and
should be submitted on or before April
22, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–6657 Filed 3–31–08; 8:45 am]
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:
BILLING CODE 8011–01–P
Electronic Comments
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to the
Implementation of Phase Two of the
Options Penny Pilot
mstockstill on PROD1PC66 with NOTICES
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2008–29 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
VerDate Aug<31>2005
16:40 Mar 31, 2008
Jkt 214001
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57559; File No. SR–
NYSEArca–2008–34]
March 26, 2008.
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 March 25,
2008, NYSE Arca, Inc. (‘‘NYSE Arca’’ 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
substantially prepared by the Exchange.
NYSE Arca has designated this proposal
as one constituting a stated policy,
practice, or interpretation with respect
to the meaning, administration, or
enforcement of an existing rule under
section 19(b)(3)(A)(i) of the Act 3 and
Rule 19b–4(f)(1) thereunder,4 which
renders the proposal effective upon
filing with the Commission. 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
NYSE Arca is proposing to implement
the next phase of the Penny Pilot in
options classes (‘‘Pilot Program’’), by
identifying the additional issues to be
added to the Pilot Program. The text of
the proposed rule change is available on
the Exchange’s Web site (https://
www.nysearca.com), at NYSE Arca’s
principal office, and at the
Commission’s Public Reference Room.5
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
NYSE Arca 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
On September 27, 2007, the
Commission approved the Exchange’s
proposal to (i) extend the Pilot Program
through March 27, 2009, and (ii) expand
the Pilot Program to include an
additional twenty-eight underlying
3 15
11 17
1 15
2 17
PO 00000
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00099
Fmt 4703
Sfmt 4703
U.S.C. 78s(b)(3)(A)(i).
CFR 240.19b–4(f)(1).
5 Exhibit 3 to the filing contains a Regulatory
Bulletin that constitutes the text of the proposed
rule change.
4 17
E:\FR\FM\01APN1.SGM
01APN1
Federal Register / Vol. 73, No. 63 / Tuesday, April 1, 2008 / Notices
issues on March 28, 2008 (‘‘Phase II’’).6
The Exchange hereby proposes to
implement Phase II of the Pilot Program
on March 28, 2008, by adding twentyeight additional issues, bringing the
total number of issues included in the
Pilot Program to sixty-three. These
twenty-eight new options classes are
among the most actively traded,
multiply-listed options classes. A
Regulatory Bulletin, attached to the
proposed rule change as Exhibit 3 and
disseminated to NYSE Arca’s members,
identifies these additional twenty-eight
underlying securities. Pursuant to NYSE
Arca Rule 6.72, this Regulatory Bulletin
will also be published by the Exchange
on its Web site. The thirty-five classes
currently in the Pilot Program will
continue to be quoted as they are today.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with and
furthers the objectives of Section 6(b)(5)
of the Act,7 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.
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.
mstockstill on PROD1PC66 with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become
effective pursuant to section
19(b)(3)(A)(i) of the Act8 and Rule 19b–
4(f)(1) thereunder,9 because it
constitutes a stated policy, practice, or
interpretation with respect to the
meaning, administration, or
enforcement of an existing rule of the
Exchange.
At any time within 60 days of the
filing of the proposed rule change, the
6 See Securities Exchange Act Release No. 56568
(September 27, 2007), 72 FR 56422 (October 3,
2007) (SR–NYSEArca–2007–88).
7 15 U.S.C. 78f(b)(5).
8 15 U.S.C. 78s(b)(3)(A)(i).
9 17 CFR 240.19b–4(f)(1).
VerDate Aug<31>2005
16:40 Mar 31, 2008
Jkt 214001
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.10
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:
17393
submissions should refer to File
Number SR–NYSEArca–2008–34 and
should be submitted on or before April
22, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–6656 Filed 3–31–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2008–34 on the
subject line.
[Release No. 34–57564; File No. SR–
NASDAQ–2008–022]
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–NYSEArca–2008–34. 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 (https://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 the filing also will be available
for inspection and copying at the
principal office of the NYSE Arca. 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
March 26, 2008.
10 See
PO 00000
15 U.S.C. 78s(b)(3)(C).
Frm 00100
Fmt 4703
Sfmt 4703
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Modify the
Rules Governing the Operation of The
NASDAQ Options Market
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 March 19,
2008, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change as described
in Items I and II below, which Items
have been prepared substantially by
Nasdaq. Nasdaq has filed this proposal
pursuant to Section 19(b)(3)(A)(iii) of
the Act 3 and Rule 19b–4(f)(6)
thereunder,4 which renders the proposal
effective upon filing with the
Commission. 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
Nasdaq proposes to make five
modifications to the rules governing its
recently-approved NASDAQ Options
Market (‘‘NOM’’).5 Specifically, Nasdaq
proposes to: (1) Revise Chapter VI,
Section 1(a)(2) of the NOM Rules to
clarify that all options trades will be
reported to the Options Price Regulatory
Authority (‘‘OPRA’’); (2) modify Chapter
VI, Section 8 of the NOM Rules to
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
5 See Securities Exchange Act Release No. 57478
(March 12, 2008), 73 FR 14521 (March 18, 2008)
(order approving File Nos. SR–NASDAQ–2007–004
and SR–NASDAQ–2007–080) (‘‘NOM Approval
Order’’).
1 15
E:\FR\FM\01APN1.SGM
01APN1
]]>Agencies
[Federal Register Volume 73, Number 63 (Tuesday, April 1, 2008)]
[Notices]
[Pages 17392-17393]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-6656]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57559; File No. SR-NYSEArca-2008-34]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Relating to the
Implementation of Phase Two of the Options Penny Pilot
March 26, 2008.
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 March 25, 2008, NYSE Arca, Inc. (``NYSE Arca'' 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 substantially prepared by the Exchange. NYSE Arca has
designated this proposal as one constituting a stated policy, practice,
or interpretation with respect to the meaning, administration, or
enforcement of an existing rule under section 19(b)(3)(A)(i) of the Act
\3\ and Rule 19b-4(f)(1) thereunder,\4\ which renders the proposal
effective upon filing with the Commission. 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.
\3\ 15 U.S.C. 78s(b)(3)(A)(i).
\4\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
NYSE Arca is proposing to implement the next phase of the Penny
Pilot in options classes (``Pilot Program''), by identifying the
additional issues to be added to the Pilot Program. The text of the
proposed rule change is available on the Exchange's Web site (https://
www.nysearca.com), at NYSE Arca's principal office, and at the
Commission's Public Reference Room.\5\
---------------------------------------------------------------------------
\5\ Exhibit 3 to the filing contains a Regulatory Bulletin that
constitutes the text of the proposed rule change.
---------------------------------------------------------------------------
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, NYSE Arca 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
On September 27, 2007, the Commission approved the Exchange's
proposal to (i) extend the Pilot Program through March 27, 2009, and
(ii) expand the Pilot Program to include an additional twenty-eight
underlying
[[Page 17393]]
issues on March 28, 2008 (``Phase II'').\6\ The Exchange hereby
proposes to implement Phase II of the Pilot Program on March 28, 2008,
by adding twenty-eight additional issues, bringing the total number of
issues included in the Pilot Program to sixty-three. These twenty-eight
new options classes are among the most actively traded, multiply-listed
options classes. A Regulatory Bulletin, attached to the proposed rule
change as Exhibit 3 and disseminated to NYSE Arca's members, identifies
these additional twenty-eight underlying securities. Pursuant to NYSE
Arca Rule 6.72, this Regulatory Bulletin will also be published by the
Exchange on its Web site. The thirty-five classes currently in the
Pilot Program will continue to be quoted as they are today.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 56568 (September 27,
2007), 72 FR 56422 (October 3, 2007) (SR-NYSEArca-2007-88).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
and furthers the objectives of Section 6(b)(5) of the Act,\7\ 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 proposed rule change has become effective pursuant to section
19(b)(3)(A)(i) of the Act\8\ and Rule 19b-4(f)(1) thereunder,\9\
because it constitutes a stated policy, practice, or interpretation
with respect to the meaning, administration, or enforcement of an
existing rule of the Exchange.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(i).
\9\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------
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.\10\
---------------------------------------------------------------------------
\10\ See 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------
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 (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2008-34 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-NYSEArca-2008-34. 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 (https://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 the filing also will be available for
inspection and copying at the principal office of the NYSE Arca. 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-2008-34 and should
be submitted on or before April 22, 2008.
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-6656 Filed 3-31-08; 8:45 am]
BILLING CODE 8011-01-P
