Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Temporary Membership Status Access Fee, 33867-33869 [E8-13304]
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Federal Register / Vol. 73, No. 115 / Friday, June 13, 2008 / Notices
public interest. In particular, the
Exchange believes that the proposed
change would give additional
opportunities to provide orders
executions at improved prices and, in
the case of HAL, executions at the
NBBO on CBOE and reduce costs by
reducing the number of Linkage orders
sent to other exchanges.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE 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
The Exchange neither solicited nor
received comments on the proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, if
consistent with the protection of
investors and the public interest, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 11 and Rule 19b–
4(f)(6) thereunder.12
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:
11 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires that a self-regulatory
organization submit to the Commission written
notice of its intent to file the proposed rule change,
along with a brief description and text of the
proposed rule change, at least five business days
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
Commission. The Commission notes that the
Exchange has satisfied the five-day pre-filing notice
requirement.
rwilkins on PROD1PC63 with NOTICES
12 17
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16:18 Jun 12, 2008
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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–CBOE–2008–58 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street, NE.,
Washington, DC 20549–1090.
33867
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57938; File No. SR–CBOE–
2008–56]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to the
Temporary Membership Status Access
Fee
June 9, 2008.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
All submissions should refer to File
notice is hereby given that on May 30,
Number SR–CBOE–2008–58. This file
2008, the Chicago Board Options
number should be included on the
subject line if e-mail is used. To help the Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
Commission process and review your
and Exchange Commission
comments more efficiently, please use
(‘‘Commission’’) the proposed rule
only one method. The Commission will change as described in Items I, II, and
post all comments on the Commission’s III below, which Items have been
Internet Web site (https://www.sec.gov/
prepared by CBOE. CBOE has
rules/sro.shtml). Copies of the
designated this proposal as one
submission, all subsequent
establishing or changing a due, fee, or
amendments, all written statements
other charge imposed by the Exchange
with respect to the proposed rule
under Section 19(b)(3)(A),3 and Rule
change that are filed with the
19b–4(f)(2) thereunder,4 which renders
Commission, and all written
the proposal effective upon filing with
communications relating to the
the Commission. The Commission is
proposed rule change between the
publishing this notice to solicit
Commission and any person, other than comments on the proposed rule change
from interested parties.
those that may be withheld from the
public in accordance with the
I. Self-Regulatory Organization’s
provisions of 5 U.S.C. 552, will be
Statement of the Terms of Substance of
available for inspection and copying in
the Proposed Rule Change
the Commission’s Public Reference
CBOE proposes to adjust the monthly
Room, 100 F Street, NE., Washington,
access fee for persons granted temporary
DC 20549, on official business days
CBOE membership status (‘‘Temporary
between the hours of 10 a.m. and 3 p.m.
Members’’) pursuant to Interpretation
Copies of such filing also will be
and Policy .02 under CBOE Rule 3.19
available for inspection and copying at
(‘‘Rule 3.19.02’’). The text of the
the principal office of the CBOE. All
proposed rule change is available on the
comments received will be posted
Exchange’s Web site (https://
without change; the Commission does
www.cboe.org/Legal/), at the Exchange’s
not edit personal identifying
Office of the Secretary, and at the
information from submissions. You
Commission’s Public Reference Room.
should submit only information that
you wish to make available publicly. All II. Self-Regulatory Organization’s
Statement of the Purpose of, and
submissions should refer to File
Number SR–CBOE–2008–58 and should Statutory Basis for, the Proposed Rule
Change
be submitted on or before July 7, 2008.
In its filing with the Commission,
For the Commission, by the Division of
CBOE included statements concerning
Trading and Markets, pursuant to delegated
the purpose of, and basis for, the
authority.13
proposed rule change and discussed any
Florence E. Harmon,
comments it received on the proposed
Acting Secretary.
rule change. The text of these statements
[FR Doc. E8–13303 Filed 6–12–08; 8:45 am]
may be examined at the places specified
in Item IV below. CBOE has prepared
BILLING CODE 8010–01–P
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(2).
2 17
13 17
PO 00000
CFR 200.30–3(a)(12).
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33868
Federal Register / Vol. 73, No. 115 / Friday, June 13, 2008 / Notices
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
rwilkins on PROD1PC63 with NOTICES
1. Purpose
The current access fee for Temporary
Members under Rule 3.19.02 5 is
$10,079 per month and took effect on
May 1, 2008. The Exchange proposes to
revise the access fee to be $10,868 per
month commencing on June 1, 2008.
The Exchange used the following
process to set the proposed access fee:
The Exchange polled each of the
clearing firms that assists in facilitating
at least 10% of the transferable CBOE
membership leases and obtained the
Clearing Firm Floating Monthly Rate 6
designated by each of these clearing
firms for the month of June 2008. The
Exchange then set the proposed access
fee at an amount equal to the highest of
these Clearing Firm Floating Monthly
Rates.
The Exchange used the same process
to set the proposed access fee that it
used to set the current access fee. The
only difference is that the Exchange
used Clearing Firm Floating Monthly
Rate information for the month of June
2008 to set the proposed access fee
(instead of Clearing Firm Floating
Monthly Rate information for the month
of May 2008 as was used to set the
current access fee) in order to take into
account changes in Clearing Firm
Floating Monthly Rates for the month of
June 2008.
The Exchange believes that the
process used to set the proposed access
fee and the proposed access fee itself are
appropriate for the same reasons set
forth in CBOE rule filing SR–CBOE–
2008–12 in support of that process and
the original access fee for Temporary
Members under Rule 3.19.02.7
The proposed access fee will remain
in effect until such time either that the
Exchange submits a further rule filing
5 See Securities Exchange Act Release No. 56458
(September 18, 2007), 72 FR 54309 (September 24,
2007) (SR–CBOE–2007–107) for a description of the
Temporary Membership status under Rule 3.19.02.
6 The term ‘‘Clearing Firm Floating Monthly
Rate’’ refers to the floating monthly rate that a
clearing firm designates, in connection with
transferable membership leases that the clearing
firm assisted in facilitating, for leases that utilize
that floating monthly rate.
7 See Securities Exchange Act Release No. 57293
(February 8, 2008), 73 FR 8729 (February 14, 2008)
(SR–CBOE–2008–12), which established the
original access fee for Temporary Members under
Rule 3.19.02, for detail regarding the rationale in
support of the original access fee and the process
used to set that fee, which is also applicable to this
proposed rule change as well.
VerDate Aug<31>2005
16:18 Jun 12, 2008
Jkt 214001
pursuant to Section 19(b)(3)(A)(ii) of the
Act 8 to modify the proposed access fee
or the Temporary Membership status
under Rule 3.19.02 is terminated.
Accordingly, the Exchange may further
adjust the proposed access fee in the
future if the Exchange determines that it
would be appropriate to do so taking
into consideration lease rates for
transferable CBOE memberships
prevailing at that time.
The procedural provisions of the
CBOE Fee Schedule related to the
assessment of the proposed access fee
are not proposed to be changed and will
remain the same as the current
procedural provisions regarding the
assessment of the current access fee.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,9 in general, and
furthers the objectives of Section 6(b)(4)
of the Act,10 in particular, in that it is
designed to provide for the equitable
allocation of reasonable dues, fees, and
other charges among persons using its
facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE 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
Because the foregoing rule change
establishes or changes a due, fee, or
other charge imposed by the Exchange,
it has become effective pursuant to
Section 19(b)(3)(A) of the Act 11 and
subparagraph (f)(2) of Rule 19b–4 12
thereunder. 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,
8 15
U.S.C. 78s(b)(3)(A)(ii).
U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(4).
11 15 U.S.C. 78s(b)(3)(A).
12 17 CFR 240.19b–4(f)(2).
9 15
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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 (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–CBOE–2008–56 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street, NE.,
Washington DC 20549–1090.
All submissions should refer to File
Number SR–CBOE–2008–56. 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 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 No.
SR–CBOE–2008–56 and should be
submitted on or before July 7, 2008.
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Federal Register / Vol. 73, No. 115 / Friday, June 13, 2008 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–13304 Filed 6–12–08; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57939; File No. SR–CBOE–
2008–60]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Increase the Class
Quoting Limit in Eight Option Classes
June 9, 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 June 4,
2008, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ 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 CBOE. The Exchange
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
rwilkins on PROD1PC63 with NOTICES
The Exchange proposes to increase
the class quoting limit in eight option
classes. The text of the proposed rule
change is available on CBOE’s Web site
(https://www.cboe.org/legal), at the
CBOE’s Office of the Secretary, and at
the Commission’s Public Reference
Room.
1. Purpose
CBOE Rule 8.3A, Maximum Number
of Market Participants Quoting
Electronically per Product, establishes
class quoting limits (‘‘CQL’’) for each
class traded on the Hybrid Trading
System or Hybrid 2.0 Platform.5 A CQL
is the maximum number of quoters that
may quote electronically in a given
product and Rule 8.3A, Interpretation
.01(a) provides that the current levels
are generally established at 50.
In addition, Rule 8.3A, Interpretation
.01(b) provides a procedure by which
the President of the Exchange may
increase the CQL for an existing or new
product. In this regard, the President of
the Exchange may increase the CQL in
exceptional circumstances, which are
defined in the rule as ‘‘substantial
trading volume, whether actual or
expected.’’ 6 The effect of an increase in
the CQL is procompetitive in that it
increases the number of market
participants that may quote
electronically in a product. The purpose
of this filing is to increase the CQL in
the following option classes as
described below:
• Canadian Solar (CSIQ) from its
current limit of 50 to 65
• Dryships, Inc. (DRYS) from its
current limit of 65 to 70
• LDK Solar Co. Ltd. from its current
limit of 50 to 65
• Petro Bras SA (PBR) from its current
limit of 60 to 65
• Potash Corp. (POT) from its current
limit of 50 to 55
• Solarfun Power Holdings Co.
(SOLF) from its current limit of 50 to 65
Rule 8.3A.01.
actions taken by the President of the
Exchange pursuant to this paragraph will be
submitted to the SEC in a rule filing pursuant to
Section 19(b)(3)(A) of the Exchange Act.’’ Rule
8.3A.01(b).
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)(i).
4 17 CFR 240.19b–4(f)(1).
6 ‘‘Any
1 15
16:18 Jun 12, 2008
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
5 See
13 17
VerDate Aug<31>2005
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 parts of such
statements.
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33869
• Sunpower Corporation (SPWR)
from its current limit of 50 to 60
• Suntech Power Holdings Co. (STP)
from its current limit of 50 to 60
The trading volume in these classes
recently has increased substantially or is
expected to increase. In addition,
increasing these CQLs as proposed will
accommodate Market-Makers that are
currently on the wait-list to be
appointed to the option classes.
Increasing the CQLs in these options
will enable the Exchange to enhance the
liquidity offered, thereby offering
deeper and more liquid markets. Lastly,
CBOE represents that it has the systems
capacity to support this increase in the
CQLs.
2. Statutory Basis
Accordingly, CBOE believes the
proposed rule change is consistent with
the Act and the rules and regulations
under the Act applicable to a national
securities exchange and, in particular,
the requirements of section 6(b) of the
Act.7 Specifically, the Exchange
believes the proposed rule change is
consistent with the section 6(b)(5) 8
requirements that the rules of an
exchange be designed to promote just
and equitable principles of trade, to
prevent fraudulent and manipulative
acts and, in general, to protect investors
and the public interest. As indicated
above, the Exchange believes that
increasing the CQL in these option
classes will enable the Exchange to
enhance the liquidity offered, thereby
offering deeper and more liquid
markets.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE 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 neither received nor
solicited written comments on the
proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
will take effect upon filing with the
Commission pursuant to section
19(b)(3)(A)(i) of the Act 9 and Rule 19b–
7 15
U.S.C. 78(f)(b).
U.S.C. 78(f)(b)(5).
9 15 U.S.C. 78s(b)(3)(A)(i).
8 15
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]]>Agencies
[Federal Register Volume 73, Number 115 (Friday, June 13, 2008)]
[Notices]
[Pages 33867-33869]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-13304]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57938; File No. SR-CBOE-2008-56]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Relating to the Temporary Membership Status Access Fee
June 9, 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 May 30, 2008, the Chicago Board Options Exchange, Incorporated
(``CBOE'' 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 CBOE.
CBOE has designated this proposal as one establishing or changing a
due, fee, or other charge imposed by the Exchange under Section
19(b)(3)(A),\3\ and Rule 19b-4(f)(2) 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 parties.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CBOE proposes to adjust the monthly access fee for persons granted
temporary CBOE membership status (``Temporary Members'') pursuant to
Interpretation and Policy .02 under CBOE Rule 3.19 (``Rule 3.19.02'').
The text of the proposed rule change is available on the Exchange's Web
site (https://www.cboe.org/Legal/), at the Exchange's Office of the
Secretary, 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, CBOE 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. CBOE has prepared
[[Page 33868]]
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 current access fee for Temporary Members under Rule 3.19.02 \5\
is $10,079 per month and took effect on May 1, 2008. The Exchange
proposes to revise the access fee to be $10,868 per month commencing on
June 1, 2008.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 56458 (September 18,
2007), 72 FR 54309 (September 24, 2007) (SR-CBOE-2007-107) for a
description of the Temporary Membership status under Rule 3.19.02.
---------------------------------------------------------------------------
The Exchange used the following process to set the proposed access
fee: The Exchange polled each of the clearing firms that assists in
facilitating at least 10% of the transferable CBOE membership leases
and obtained the Clearing Firm Floating Monthly Rate \6\ designated by
each of these clearing firms for the month of June 2008. The Exchange
then set the proposed access fee at an amount equal to the highest of
these Clearing Firm Floating Monthly Rates.
---------------------------------------------------------------------------
\6\ The term ``Clearing Firm Floating Monthly Rate'' refers to
the floating monthly rate that a clearing firm designates, in
connection with transferable membership leases that the clearing
firm assisted in facilitating, for leases that utilize that floating
monthly rate.
---------------------------------------------------------------------------
The Exchange used the same process to set the proposed access fee
that it used to set the current access fee. The only difference is that
the Exchange used Clearing Firm Floating Monthly Rate information for
the month of June 2008 to set the proposed access fee (instead of
Clearing Firm Floating Monthly Rate information for the month of May
2008 as was used to set the current access fee) in order to take into
account changes in Clearing Firm Floating Monthly Rates for the month
of June 2008.
The Exchange believes that the process used to set the proposed
access fee and the proposed access fee itself are appropriate for the
same reasons set forth in CBOE rule filing SR-CBOE-2008-12 in support
of that process and the original access fee for Temporary Members under
Rule 3.19.02.\7\
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 57293 (February 8,
2008), 73 FR 8729 (February 14, 2008) (SR-CBOE-2008-12), which
established the original access fee for Temporary Members under Rule
3.19.02, for detail regarding the rationale in support of the
original access fee and the process used to set that fee, which is
also applicable to this proposed rule change as well.
---------------------------------------------------------------------------
The proposed access fee will remain in effect until such time
either that the Exchange submits a further rule filing pursuant to
Section 19(b)(3)(A)(ii) of the Act \8\ to modify the proposed access
fee or the Temporary Membership status under Rule 3.19.02 is
terminated. Accordingly, the Exchange may further adjust the proposed
access fee in the future if the Exchange determines that it would be
appropriate to do so taking into consideration lease rates for
transferable CBOE memberships prevailing at that time.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------
The procedural provisions of the CBOE Fee Schedule related to the
assessment of the proposed access fee are not proposed to be changed
and will remain the same as the current procedural provisions regarding
the assessment of the current access fee.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\9\ in general, and furthers the
objectives of Section 6(b)(4) of the Act,\10\ in particular, in that it
is designed to provide for the equitable allocation of reasonable dues,
fees, and other charges among persons using its facilities.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b).
\10\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CBOE 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
Because the foregoing rule change establishes or changes a due,
fee, or other charge imposed by the Exchange, it has become effective
pursuant to Section 19(b)(3)(A) of the Act \11\ and subparagraph (f)(2)
of Rule 19b-4 \12\ thereunder. 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.
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\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 240.19b-4(f)(2).
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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-CBOE-2008-56 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street, NE., Washington DC 20549-1090.
All submissions should refer to File Number SR-CBOE-2008-56. 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 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 No. SR-CBOE-2008-56 and should be
submitted on or before July 7, 2008.
[[Page 33869]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
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\13\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-13304 Filed 6-12-08; 8:45 am]
BILLING CODE 8010-01-P
