Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Hybrid Electronic Quoting Fee, 54186-54188 [E8-21759]
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54186
Federal Register / Vol. 73, No. 182 / Thursday, September 18, 2008 / Notices
persons engaged in facilitating
transactions in securities, to remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest. The Exchange submits
that the instant proposal to adopt
generic initial and continued listing
criteria for options on Section 107
Securities will serve to provide
enhanced risk management tools for
investors that, to date, have been absent
in connection with Section 107
Securities. In addition, the Exchange
further believes that the proposed listing
criteria together with the Exchange’s
surveillance procedures will serve to
protect investors and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
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
nor 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 proposed rule
change: (1) Does not significantly affect
the protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) by its terms does not become
operative for 30 days after the date of
this filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 10 and
Rule 19b–4(f)(6) thereunder.11
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative for 30 days after the
date of filing. However, Rule 19b–
4(f)(6)(iii) permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
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
11 17
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15:26 Sep 17, 2008
Jkt 214001
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–Amex–2008–69. 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 (https://www.sec.gov/
rules/sro.shtml). Copies of the
12 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
13 See Securities Exchange Act Release Nos.
58203 (July 22, 2008), 73 FR 43812 (July 28, 2008)
(SR–NYSEArca–2008–57) and 58204 (July 22,
2008), 73 FR 43807 (July 28, 2008) (SR–CBOE–
2008–64).
PO 00000
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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–Amex–2008–69 and should
be submitted on or before October 9,
2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–21761 Filed 9–17–08; 8:45 am]
BILLING CODE 8010–01–P
• 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–Amex–2008–69 on the
subject line.
10 15
dwashington3 on PRODPC61 with NOTICES
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
provide the Commission with 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
Exchange has fulfilled this requirement.
Exchange requests that the Commission
waive the 30-day operative delay so that
the Exchange is able to compete with
other options exchanges that are
currently permitted to list and trade
options on Section 107 Securities. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest.12 The Commission notes
the proposal is substantively identical to
proposals that were recently approved
by the Commission, and does not raise
any new regulatory issues.13 For these
reasons, the Commission designates the
proposed rule change as operative upon
filing.
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.
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58513; File No. SR–CBOE–
2008–92]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Hybrid
Electronic Quoting Fee
September 11, 2008.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
29, 2008, the Chicago Board Options
Exchange, Incorporated ( ‘‘Exchange’’ or
‘‘CBOE’’) 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 CBOE. The Commission is
publishing this notice to solicit
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\18SEN1.SGM
18SEN1
Federal Register / Vol. 73, No. 182 / Thursday, September 18, 2008 / Notices
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
CBOE is proposing to amend its
Hybrid Electronic Quoting Fee. 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 those
statements may be examined at the
places specified in Item IV below. The
CBOE has prepared summaries, set forth
in sections A, B, and C below, of the
most significant parts of such
statements.
dwashington3 on PRODPC61 with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of this proposed rule
change is to amend CBOE’s Hybrid
Electronic Quoting Fee (‘‘Quoting Fee’’),
which is applicable to all MarketMakers, DPMs, and e-DPMs (collectively
‘‘liquidity providers’’) in order to
promote and encourage more efficient
quoting.
Under the current Quoting Fee, CBOE
assesses all liquidity providers who are
submitting electronic quotations to
CBOE in Hybrid option classes a
monthly amount of $450 per
membership utilized.3 CBOE also
assesses or credits fees on liquidity
providers that vary depending on: (i) the
quality of the liquidity provider’s
quotation (a quotation is a bid and an
offer); and (ii) the value of the
underlying security and CBOE’s bid in
the option series. The Quoting Fee
provides that a liquidity provider’s total
credits cannot exceed the total debits
assessed. If the total credits were to
exceed the total debits, the Quoting Fee
assessed to that liquidity provider
would be $450.
CBOE now proposes to amend the
Quoting Fee and establish a cap of
3 See Securities Exchange Act Release No. 34–
56927 (12/7/07), 72 FR 70912 (12/13/07), granting
immediate effectiveness to SR–CBOE–2007–145.
VerDate Aug<31>2005
15:26 Sep 17, 2008
Jkt 214001
$50,000 on the amount a liquidity
provider’s total credits can exceed the
total debits assessed. If the liquidity
provider is a member organization
utilizing more than one membership,
the $50,000 cap is applied per member
organization. CBOE believes that
establishing a cap of $50,000 will serve
as an incentive to liquidity providers to
submit competitive quotations, and that
the Quoting Fee will continue to
promote and encourage more efficient
quoting and help to reduce quote traffic.
Additionally, CBOE proposes to make
a technical change to Section 17 and
delete the reference to ‘‘Hybrid 2.0,’’
which CBOE recently deleted from its
rules.4
The Exchange intends to implement
this revised Quoting Fee effective
September 1, 2008.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with Section
6(b) of the Securities Exchange Act of
1934 (‘‘Act’’) 5, in general, and furthers
the objectives of Section 6(b)(4) 6 of the
Act in particular, in that it is designed
to provide for the equitable allocation of
reasonable dues, fees, and other charges
among CBOE members. In particular,
CBOE believes the establishment of a
$50,000 cap on the amount a liquidity
provider’s total credits can exceed the
total debits assessed is an equitable
allocation of reasonable dues and fees in
that it will serve as an incentive to
liquidity providers to submit
competitive quotations. CBOE also
believes that the Quoting Fee will
continue to promote and encourage
more efficient quoting and help to
reduce quote traffic.
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.
4 See Securities Exchange Act Release No. 34–
58153 (7/14/08), 73 FR 41386 (7/18/08), granting
immediate effectiveness to SR–CBOE–2008–67.
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(4).
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54187
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 7 and subparagraph (f)(2) of
Rule 19b–4 8 thereunder. 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:
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–2008–92 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–2008–92. 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.
7 15
8 17
E:\FR\FM\18SEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(2).
18SEN1
54188
Federal Register / Vol. 73, No. 182 / Thursday, September 18, 2008 / Notices
Copies of such filing also will be
available for inspection and copying at
the principal office of the CBOE. 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–CBOE–2008–92 and should
be submitted on or before October 9,
2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–21759 Filed 9–17–08; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58519; File No. SR–CBOE–
2008–84]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Amend Rule 8.3A
Pertaining to Class Quoting Limits
September 11, 2008.
dwashington3 on PRODPC61 with NOTICES
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on
September 8, 2008, the Chicago Board
Options Exchange, Incorporated
(‘‘Exchange’’ or ‘‘CBOE’’) 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 Exchange. The
Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to Section 19(b)(3)(A)(iii) of
the Act 3 and Rule 19b–4(f)(6)
thereunder.4 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 amend
CBOE Rule 8.3A pertaining to Class
Quoting Limits. The text of the
proposed rule change is available on the
9 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).
1 15
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15:26 Sep 17, 2008
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Exchange’s Web site (https://
www.cboe.org/Legal), at the Exchange’s
Office of the Secretary and at the
Commission.
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
CBOE Rule 8.3A establishes the upper
limit, i.e., Class Quoting Limit (‘‘CQL’’),
on the number of members that may
quote electronically in a particular
product traded on CBOE’s Hybrid
Trading System. The purpose of this
rule change is to amend Interpretations
.01 and .03 of CBOE Rule 8.3A.
First, CBOE proposes to amend
Interpretation .01(b) which generally
provides that CBOE’s President may
increase the CQL when ‘‘exceptional
circumstances’’ warrant. Interpretation
.01(b) states that ‘‘exceptional
circumstances’’ refers to substantial
trading volume, whether actual or
expected (e.g., in the case of a new
product or a major news
announcement). Interpretation .01(b)
also provides that when the
‘‘exceptional circumstances’’ cease, the
President can reduce the CQL, and
includes fair procedures for how such a
reduction would occur. CBOE believes
that there may be circumstances in
which it would be appropriate to
increase the CQL in a particular product
even though it may not be apparent that
there has been, or will be, a substantial
change in trading volume in the
product. For example, there may be
circumstances in which a product is not
experiencing a substantial change in
trading volume and yet additional
members may want to quote
electronically in the product. Provided
CBOE’s trading systems can handle the
increase and CBOE’s President
determines that it would be appropriate,
CBOE should be permitted to increase
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Frm 00055
Fmt 4703
Sfmt 4703
the CQL in that product.5 Similarly,
CBOE believes that the President should
be allowed to decrease the CQL in
appropriate circumstances, particularly
in those cases where the CQL previously
has been increased and provided such
increase is no longer needed.
Accordingly, CBOE proposes to
amend Interpretation .01(b) to provide
that CBOE’s President (or his designee)
can increase or decrease the CQL in an
existing or new product when he/she
determines it would be appropriate. One
of the factors that would be considered
is the trading volume of the product.
CBOE believes that amending
Interpretation .01(b) as proposed is
procompetitive, as it provides more
flexibility in determining when to
increase the CQL and thus allow more
electronic quoters in a particular
product. It is also consistent with the
purpose of maintaining a CQL, which is
to limit the number of members that are
quoting electronically in a particular
product to ensure that the Exchange has
the ability to effectively handle all
quotes generated by members. CBOE’s
President certainly can determine
whether CBOE’s systems can effectively
handle the increase in quote message
traffic caused by an increase in the CQL
when the President determines that the
increase would be appropriate. CBOE is
not proposing to change the procedures
for decreasing a CQL that are currently
contained in Interpretation .01(b).
Second, CBOE proposes to clarify and
amend Interpretation .03, which
provides that in the event a MarketMaker has not submitted any electronic
quotations in an appointed option class
during the preceding 30 calendar days,
then the Market-Maker’s appointment in
that option class will be terminated
effective immediately. Interpretation .03
expressly states that it only applies to
those option classes in which the CQL
for the option class is full and there is
a wait-list of member(s) requesting the
ability to quote electronically in the
option class, and that CBOE will notify
the Market-Maker prior to terminating
its appointment.
In adopting the interpretation, it was
not CBOE’s intention to allow a MarketMaker, who has chosen not to submit
any electronic quotations in an
appointed option class during the
preceding 30 calendar days, to be able
to preserve the Market-Maker’s
appointment in the option class by
submitting one or more electronic
quotes and then to discontinue quoting,
thereby avoiding the termination.
5 CBOE notes that it increases the CQL in
products infrequently, and when it does, members
on the wait-list have first priority.
E:\FR\FM\18SEN1.SGM
18SEN1
]]>Agencies
[Federal Register Volume 73, Number 182 (Thursday, September 18, 2008)]
[Notices]
[Pages 54186-54188]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-21759]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-58513; File No. SR-CBOE-2008-92]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Relating to Hybrid Electronic Quoting Fee
September 11, 2008.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on August 29, 2008, the Chicago Board Options Exchange,
Incorporated ( ``Exchange'' or ``CBOE'') 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 CBOE. The Commission is publishing this notice to solicit
[[Page 54187]]
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CBOE is proposing to amend its Hybrid Electronic Quoting Fee. 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 those statements may be examined at the places specified in
Item IV below. The CBOE 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 purpose of this proposed rule change is to amend CBOE's Hybrid
Electronic Quoting Fee (``Quoting Fee''), which is applicable to all
Market-Makers, DPMs, and e-DPMs (collectively ``liquidity providers'')
in order to promote and encourage more efficient quoting.
Under the current Quoting Fee, CBOE assesses all liquidity
providers who are submitting electronic quotations to CBOE in Hybrid
option classes a monthly amount of $450 per membership utilized.\3\
CBOE also assesses or credits fees on liquidity providers that vary
depending on: (i) the quality of the liquidity provider's quotation (a
quotation is a bid and an offer); and (ii) the value of the underlying
security and CBOE's bid in the option series. The Quoting Fee provides
that a liquidity provider's total credits cannot exceed the total
debits assessed. If the total credits were to exceed the total debits,
the Quoting Fee assessed to that liquidity provider would be $450.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 34-56927 (12/7/07),
72 FR 70912 (12/13/07), granting immediate effectiveness to SR-CBOE-
2007-145.
---------------------------------------------------------------------------
CBOE now proposes to amend the Quoting Fee and establish a cap of
$50,000 on the amount a liquidity provider's total credits can exceed
the total debits assessed. If the liquidity provider is a member
organization utilizing more than one membership, the $50,000 cap is
applied per member organization. CBOE believes that establishing a cap
of $50,000 will serve as an incentive to liquidity providers to submit
competitive quotations, and that the Quoting Fee will continue to
promote and encourage more efficient quoting and help to reduce quote
traffic.
Additionally, CBOE proposes to make a technical change to Section
17 and delete the reference to ``Hybrid 2.0,'' which CBOE recently
deleted from its rules.\4\
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 34-58153 (7/14/08),
73 FR 41386 (7/18/08), granting immediate effectiveness to SR-CBOE-
2008-67.
---------------------------------------------------------------------------
The Exchange intends to implement this revised Quoting Fee
effective September 1, 2008.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
Section 6(b) of the Securities Exchange Act of 1934 (``Act'') \5\, in
general, and furthers the objectives of Section 6(b)(4) \6\ of the Act
in particular, in that it is designed to provide for the equitable
allocation of reasonable dues, fees, and other charges among CBOE
members. In particular, CBOE believes the establishment of a $50,000
cap on the amount a liquidity provider's total credits can exceed the
total debits assessed is an equitable allocation of reasonable dues and
fees in that it will serve as an incentive to liquidity providers to
submit competitive quotations. CBOE also believes that the Quoting Fee
will continue to promote and encourage more efficient quoting and help
to reduce quote traffic.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 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 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
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \7\ and subparagraph (f)(2) of Rule 19b-4 \8\
thereunder. 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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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-2008-92 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-2008-92. 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.
[[Page 54188]]
Copies of such filing also will be available for inspection and copying
at the principal office of the CBOE. 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-CBOE-2008-92 and should be submitted on
or before October 9, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-21759 Filed 9-17-08; 8:45 am]
BILLING CODE 8010-01-P
