Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX, Inc. Relating to Rule 1028 (Confirmations), 328-330 [E8-31259]
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328
Federal Register / Vol. 74, No. 2 / Monday, January 5, 2009 / Notices
Direct Contracts agreement.1 Global
Direct Contracts provide a rate for mail
acceptance within the United States and
transportation to a receiving country,
with the addition by the customer of
appropriate foreign indicia, and
payment by the Postal Service of the
appropriate settlement charges to the
receiving country. The Postal Service
believes the instant agreement is
functionally equivalent to previously
submitted Global Direct Contracts
agreements, and supported by the
Governors’ Decision filed in Docket No.
MC2008–7.2 The Postal Service
contends that the instant agreement
should be included within the Global
Direct Contracts product.
The instant contract. The Postal
Service filed the instant agreement
pursuant to 39 CFR 3015.5. In addition,
the Postal Service contends that the
agreement is in accordance with PRC
Order No. 153. It submitted the contract
and supporting material under seal, and
attached a redacted copy of the certified
statement required by 39 CFR
3015.5(c)(2) to the Notice.
The Notice identifies the instant
agreement as fitting within the Mail
Classification Schedule language for
Global Direct Contracts, and indicates
that this agreement is set to expire no
later than January 31, 2010.3 The Notice
discusses the Postal Service’s interest in
the confidential treatment of the
contract and related material. Id. at 2–
3. The Notice also provides the Postal
Service’s rationale for concluding that
the instant contract is functionally
equivalent to the initial contracts filed
in Docket Nos. CP2009–10 and CP2009–
11. Id. at 2–6.
II. Notice of Filing
The Commission establishes Docket
No. CP2009–18 for consideration of
matters related to the agreement
identified in the Postal Service’s Notice.
1 Notice
of United States Postal Service Filing of
Functionally Equivalent Global Direct Contracts
Negotiated Service Agreement, December 23, 2008
(Notice).
2 Notice at 1–2. See Docket No. MC2008–7,
Request of the United States Postal Service to Add
Global Plus 2 Negotiated Service Agreements to the
Competitive Product List, and Notice of Filing
(Under Seal) the Enabling Governors’ Decision and
Two Functionally Equivalent Agreements,
Attachment A, August 8, 2008, for a redacted
version of Decision of the Governors of the United
States Postal Service on the Establishment of Prices
and Classifications for Global Direct, Global Bulk
Economy, and Global Plus Contracts (Governors’
Decision No. 08–10), July 16, 2008. The Postal
Service also filed under seal an unredacted version
of the Governors’ Decision in that docket.
3 The Postal Service also states that this
agreement has the same duration, basically a oneyear period, as the previously approved Global
Direct Contracts agreements. Notice at 5.
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Interested persons may submit
comments on whether the Postal
Service’s agreement is consistent with
the policies of 39 U.S.C. 3632, 3633, or
3642. Comments are due no later than
January 5, 2009. The public portions of
these filings can be accessed via the
Commission’s Web site (https://
www.prc.gov).
The Commission appoints Michael J.
Ravnitzky to serve as Public
Representative in the captioned filings.
III. Ordering Paragraphs
It is Ordered:
1. The Commission establishes Docket
No. CP2009–18 for consideration of the
matters raised in this docket.
2. Pursuant to 39 U.S.C. 505, Michael
J. Ravnitzky is appointed to serve as
officer of the Commission (Public
Representative) to represent the
interests of the general public in these
proceedings.
3. Comments by interested persons in
these proceedings are due no later than
January 5, 2009.
4. The Secretary shall arrange for
publication of this Order in the Federal
Register.
By the Commission.
Steven W. Williams,
Secretary.
[FR Doc. E8–31374 Filed 1–2–09; 8:45 am]
BILLING CODE 7710–FW–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59166; File No. SR–Phlx–
2008–82]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NASDAQ
OMX PHLX, Inc. Relating to Rule 1028
(Confirmations)
December 29, 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 December
10, 2008, NASDAQ OMX PHLX, Inc.
(‘‘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
substantially been prepared by the
Exchange. The Exchange filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
section 19(b)(3)(A)(iii) of the Act 3 and
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
2 17
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Sfmt 4703
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
Phlx Rule 1028, Confirmations, to
eliminate the requirement that members
indicate in written confirmations to
options customers the specific exchange
on which transactions were done.5 The
text of the proposed rule change is
available at the Exchange, on the
Exchange’s Web site at https://
www.nasdaqtrader.com/micro.aspx?id=
PHLXRulefilings, 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
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 amend Phlx Rule 1028 to
eliminate the requirement that the
market on which an options transaction
is executed be disclosed on a written
confirmation furnished to a customer of
a member organization. Pursuant to
Phlx Rule 1028, the member
organization will continue to be
required to furnish a written
confirmation that contains a description
of each transaction in the option
contracts which shall show: the type of
option; the underlying security (e.g.,
4 17
CFR 240.19b–4(f)(6).
proposed filing is being done pursuant to
an industry-wide initiative under the auspices of
the Options Self-Regulatory Council (‘‘OSRC’’),
which is a committee comprised of representatives
from each of the options exchanges functioning
pursuant to the OSRC Plan (the ‘‘Plan’’). See
Securities Exchange Act Release No. 20158 (Sept.
8, 1983), 48 FR 41256 (Sept. 14, 1983). The Plan
is not a National Market System (‘‘NMS’’) plan
under Section 11A of the Act, but rather is a plan
to allocate regulatory responsibilities under Rule
17d–2 under the Act. 17 CFR 240.17d–2.
5 The
E:\FR\FM\05JAN1.SGM
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Federal Register / Vol. 74, No. 2 / Monday, January 5, 2009 / Notices
stock or Exchange Traded Fund); the
expiration month; the exercise price; the
number of option contracts; the
premium and commissions; the
transaction and settlement dates;
whether the transaction was a purchase
or a sale (writing) transaction; whether
the transaction was an opening or a
closing transaction; and whether the
transaction was effected on a principal
or agency basis.
The Exchange believes that with the
expansion of multi-listing of options
and the introduction of new options
exchanges, it has become operationally
inefficient to require the disclosure of
the market center on which an order
was executed on the confirmation. As
an example, a customer may have a
single option order containing
numerous option contracts executed on
multiple exchanges. As such, it would
be inefficient for the member
organization to be required to identify
the exchange symbol for each contract
executed on that customer’s order. This
proposal will clarify that written
confirmations furnished by the member
organization(s) to a customer will not
need to specify the exchange or
exchanges on which such option
contracts were executed.
This proposal is similar to rule change
proposals that have been filed by the
Chicago Board Options Exchange
(‘‘CBOE’’), the Financial Industry
Regulatory Authority, Inc. (‘‘FINRA’’),
and the American Stock Exchange LLC
(‘‘Amex’’).6 The Exchange believes that
similar proposals will be filed with the
Commission by the New York Stock
Exchange (‘‘NYSE’’) and other
exchanges, and if adopted, would
continue to provide a uniform approach
with respect to confirmations to
customers regarding standardized
options.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with section 6(b)
of the Act 7 in general, and furthers the
objectives of section 6(b)(5) of the Act 8
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
clarifying the Exchange’s options
6 See Securities Exchange Act Release Nos. 58814
(Oct. 20, 2008), 73 FR 63527 (Oct. 24, 2008) (SR–
Amex–2008–53); 58932 (Nov. 12, 2008), 73 FR
69696 (Nov. 19, 2008) (SR–FINRA–2008–32); and
58980 (Nov. 19, 2008), 73 FR 72091 (Nov. 26, 2008)
(SR–CBOE–2008–61).
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
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14:05 Jan 02, 2009
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confirmation procedure rules to better
reflect the realities of the modern
options market.
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 with respect to the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange believes that the
foregoing proposed rule change may
take effect upon filing with the
Commission pursuant to section
19(b)(3)(A) 9 of the Act and Rule 19b–
4(f)(6)(iii) thereunder 10 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.
A proposed rule change filed under
19b–4(f)(6) normally may not become
operative prior to 30 days after the date
of filing.11 However, Rule 19b–
4(f)(6)(iii) 12 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has requested that the
Commission waive the 30-day operative
delay.
The proposed rule change is
substantially similar to an Amex rule
that provides that written confirmations
relating to options transactions are not
required to specify the options exchange
or exchanges on which such options
were executed.13 The Exchange believes
that this proposed rule change does not
raise any new, unique or substantive
issues from those raised in the approved
Amex filing. The Exchange also believes
that acceleration of the operative date is
consistent with the protection of
investors and the public interest.14
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6)(iii).
11 Id.
12 Id.
13 See supra note 6, and related text.
14 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
10 17
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329
Lastly, the Exchange provided 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
days prior to the date of the filing of the
proposed rule change as required by
Rule 19b–4(f)(6).
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.
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–Phlx–2008–82 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–Phlx–2008–82. 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
impact of the proposed rule on efficiency,
competition, and capital formation. 15 U.S.C. 78c(f).
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Federal Register / Vol. 74, No. 2 / Monday, January 5, 2009 / Notices
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–2008–82 and should
be submitted on or before January 26,
2009.
515 22nd Street, NW., Department of
State, Washington, DC 20522–8001. The
new system of records for the Family
Advocacy Case Records will be
effective, unless comments are received
40 days from the date of publication that
result in a contrary determination.
This new system description will read
as set forth below.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.15
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–31259 Filed 1–2–09; 8:45 am]
State–75
BILLING CODE 8011–01–P
Dated: December 29, 2008.
William H. Moser,
Acting Assistant Secretary for the Bureau of
Administration, Department of State.
SYSTEM NAME:
Family Advocacy Case Records.
SECURITY CLASSIFICATION:
Primarily unclassified but may
include classified information.
SYSTEM LOCATION:
Department of State, Office of Medical
Services, SA–1, 2401 E Street, NW.,
Washington, DC 20522, and at overseas
posts.
DEPARTMENT OF STATE
[Public Notice 6472]
Family Advocacy Case Records
Notice is hereby given that
the Department of State proposes to
create a new system of records, pursuant
to the provision of the Privacy Act of
1974 as amended (5 U.S.C. 552a) and
Office of Management and Budget
Circular No. A–130, Appendix I. The
Department’s report was filed with the
Office of Management and Budget on
December 29, 2008.
It is proposed that the system be
named ‘‘Family Advocacy Case Records
System.’’ The system description will
specify that Family Advocacy Case
Record System maintains records
concerning alleged, suspected or
established child abuse or neglect or
domestic violence on individuals who
have been the subject of the Department
of State’s Family Advocacy Program,
including individuals who are or were
under the authority of a Chief of
Mission at a post abroad. Individuals
whose information is continued in the
system of records may include children
who are alleged to have been the subject
of abuse or neglect, family members of
such children, alleged perpetrators of
such abuse or neglect and those
involved with allegations of domestic
violence.
Any persons interested in
commenting on the new Family
Advocacy Case Records system of
records may do so by submitting
comments in writing to Margaret P.
Grafeld, Director, Office of Information
Programs and Service, A/ISS/IPS, SA–2,
SUMMARY:
15 17
CFR 200.30–3(a)(12).
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CATEGORIES OF INDIVIDUALS COVERED BY THE
SYSTEM:
Individuals who have been the subject
of the Department of State Family
Advocacy Program, including but not
limited to individuals who are or were
under the authority of a Chief of
Mission at a post abroad. Individuals
may include children who are alleged to
have been the subject of abuse or
neglect, family members of such
children, and the alleged perpetrators of
such abuse or neglect. Individuals also
may include those involved with
allegations of domestic violence.
AUTHORITY FOR MAINTENANCE OF THE SYSTEM:
Section 226 of the Victims of Child
Abuse Act of 1990 42 U.S.C. 13031;
sections 201, 206, 207 of Foreign
Service Act of 1980 22 U.S.C. 3921,
section 3926, section 3927 (Management
of the Foreign Service); section 904 of
the Foreign Service Act, 22 U.S.C. 4084
(Health Care for the Foreign Service); 5
U.S.C. 301 (Management of the
Department of State); 22 U.S.C. 4802,
Executive Order 10450; and 28 CFR 81.1
et seq.
CATEGORIES OF RECORDS IN THE SYSTEM:
All available information concerning
alleged, suspected or established child
abuse or neglect or domestic violence.
Included could be medical records,
reports from medical officers at post,
health care records from post, Family
Advocacy Committee and Post Family
Advocacy Team recommendations, law
enforcement investigative reports,
Regional Security Officer reports,
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Fmt 4703
Sfmt 4703
witness reports, telegrams, email
communications, correspondence,
evaluative reports by medical and other
professionals, photographs, lab results,
x-rays, court documents, legal
documents such as power of attorney,
and other related records.
PURPOSE:
The information in this system is used
at post by members of the Family
Advocacy Team and in the Department
of State by the Family Advocacy
Committee. The information may be
shared within the Department of State
on a need to know basis and in medical
clearance determinations for overseas
assignment of covered employees and
family members, as well as for making
determinations involving curtailment,
medical evacuation, suitability, and
security clearance.
ROUTINE USES OF RECORDS MAINTAINED IN THE
SYSTEM, INCLUDING CATEGORIES OF USERS AND
THE PURPOSE OF SUCH USES:
The routine uses of the information
also include:
(1) In cases of suspected child abuse,
to the officials designated to receive
reports of such cases pursuant to the
Victims of Child Abuse Act of 1990;
(2) In cases of suspected child abuse
or neglect, or domestic violence, to the
appropriate federal, state, local or
foreign government officials who may
be involved with the investigation,
prosecution, or the provision of services
in such cases;
(3) To medical professionals, health
care providers, and social workers, for
purposes of providing treatment and/or
services to the individuals covered by
this system of records;
(4) To other United States
Government agencies and local
authorities in the performance of their
official duties relating to coordination of
family advocacy programs, medical care
and research concerning child abuse
and neglect, and domestic abuse in
cases involving employees; or
(5) To medical professionals to whom
referrals are being made for evaluation
and/or diagnostic assessments.
Also see ‘‘Routine Uses’’ paragraph of
the Prefatory Statement published in the
Federal Register.
POLICIES AND PRACTICES FOR STORING,
RETRIEVING, ACCESSING, RETAINING AND
DISPOSING OF RECORDS IN THE SYSTEM:
STORAGE:
Paper.
RETRIEVABILITY:
Individual name.
SAFEGUARDS:
All Department of State employees
and contractors with authorized access
E:\FR\FM\05JAN1.SGM
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]]>Agencies
[Federal Register Volume 74, Number 2 (Monday, January 5, 2009)]
[Notices]
[Pages 328-330]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-31259]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59166; File No. SR-Phlx-2008-82]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NASDAQ OMX PHLX, Inc. Relating
to Rule 1028 (Confirmations)
December 29, 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 December 10, 2008, NASDAQ OMX PHLX, Inc. (``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 substantially been prepared by the
Exchange. The Exchange filed the proposal as a ``non-controversial''
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.
---------------------------------------------------------------------------
\1\ 15 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).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Phlx Rule 1028, Confirmations, to
eliminate the requirement that members indicate in written
confirmations to options customers the specific exchange on which
transactions were done.\5\ The text of the proposed rule change is
available at the Exchange, on the Exchange's Web site at https://
www.nasdaqtrader.com/micro.aspx?id= PHLXRulefilings, and at the
Commission.
---------------------------------------------------------------------------
\5\ The proposed filing is being done pursuant to an industry-
wide initiative under the auspices of the Options Self-Regulatory
Council (``OSRC''), which is a committee comprised of
representatives from each of the options exchanges functioning
pursuant to the OSRC Plan (the ``Plan''). See Securities Exchange
Act Release No. 20158 (Sept. 8, 1983), 48 FR 41256 (Sept. 14, 1983).
The Plan is not a National Market System (``NMS'') plan under
Section 11A of the Act, but rather is a plan to allocate regulatory
responsibilities under Rule 17d-2 under the Act. 17 CFR 240.17d-2.
---------------------------------------------------------------------------
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 amend Phlx Rule 1028
to eliminate the requirement that the market on which an options
transaction is executed be disclosed on a written confirmation
furnished to a customer of a member organization. Pursuant to Phlx Rule
1028, the member organization will continue to be required to furnish a
written confirmation that contains a description of each transaction in
the option contracts which shall show: the type of option; the
underlying security (e.g.,
[[Page 329]]
stock or Exchange Traded Fund); the expiration month; the exercise
price; the number of option contracts; the premium and commissions; the
transaction and settlement dates; whether the transaction was a
purchase or a sale (writing) transaction; whether the transaction was
an opening or a closing transaction; and whether the transaction was
effected on a principal or agency basis.
The Exchange believes that with the expansion of multi-listing of
options and the introduction of new options exchanges, it has become
operationally inefficient to require the disclosure of the market
center on which an order was executed on the confirmation. As an
example, a customer may have a single option order containing numerous
option contracts executed on multiple exchanges. As such, it would be
inefficient for the member organization to be required to identify the
exchange symbol for each contract executed on that customer's order.
This proposal will clarify that written confirmations furnished by the
member organization(s) to a customer will not need to specify the
exchange or exchanges on which such option contracts were executed.
This proposal is similar to rule change proposals that have been
filed by the Chicago Board Options Exchange (``CBOE''), the Financial
Industry Regulatory Authority, Inc. (``FINRA''), and the American Stock
Exchange LLC (``Amex'').\6\ The Exchange believes that similar
proposals will be filed with the Commission by the New York Stock
Exchange (``NYSE'') and other exchanges, and if adopted, would continue
to provide a uniform approach with respect to confirmations to
customers regarding standardized options.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release Nos. 58814 (Oct. 20,
2008), 73 FR 63527 (Oct. 24, 2008) (SR-Amex-2008-53); 58932 (Nov.
12, 2008), 73 FR 69696 (Nov. 19, 2008) (SR-FINRA-2008-32); and 58980
(Nov. 19, 2008), 73 FR 72091 (Nov. 26, 2008) (SR-CBOE-2008-61).
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2. Statutory Basis
The Exchange believes that its proposal is consistent with section
6(b) of the Act \7\ in general, and furthers the objectives of section
6(b)(5) of the Act \8\ 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
clarifying the Exchange's options confirmation procedure rules to
better reflect the realities of the modern options market.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 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 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 with respect
to the proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The Exchange believes that the foregoing proposed rule change may
take effect upon filing with the Commission pursuant to section
19(b)(3)(A) \9\ of the Act and Rule 19b-4(f)(6)(iii) thereunder \10\
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.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
A proposed rule change filed under 19b-4(f)(6) normally may not
become operative prior to 30 days after the date of filing.\11\
However, Rule 19b-4(f)(6)(iii) \12\ permits the Commission to designate
a shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange has requested that the
Commission waive the 30-day operative delay.
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\11\ Id.
\12\ Id.
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The proposed rule change is substantially similar to an Amex rule
that provides that written confirmations relating to options
transactions are not required to specify the options exchange or
exchanges on which such options were executed.\13\ The Exchange
believes that this proposed rule change does not raise any new, unique
or substantive issues from those raised in the approved Amex filing.
The Exchange also believes that acceleration of the operative date is
consistent with the protection of investors and the public
interest.\14\ Lastly, the Exchange provided 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
days prior to the date of the filing of the proposed rule change as
required by Rule 19b-4(f)(6).
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\13\ See supra note 6, and related text.
\14\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the impact of the proposed rule on
efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
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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.
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-Phlx-2008-82 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-Phlx-2008-82. 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
[[Page 330]]
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-2008-82 and
should be submitted on or before January 26, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\15\
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\15\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-31259 Filed 1-2-09; 8:45 am]
BILLING CODE 8011-01-P
