Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Amendment of International Securities Exchange Holdings, Inc.'s Certificate of Incorporation, 975-976 [E9-157]

Download as PDF Federal Register / Vol. 74, No. 6 / Friday, January 9, 2009 / Notices 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 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 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– 2008–128 and should be submitted on or before January 30, 2009. the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(3) 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. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18 Florence E. Harmon, Acting Secretary. [FR Doc. E9–156 Filed 1–8–09; 8:45 am] Certificate of Incorporation BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59196; File No. SR–ISE– 2008–100] January 5, 2009. mstockstill on PROD1PC66 with NOTICES The Exchange is proposing to make technical changes to the certificate of incorporation (the ‘‘Certificate of Incorporation’’) of its parent, International Securities Exchange Holdings, Inc. (‘‘Holdings’’), which will be adopted in connection with a corporate transaction (the ‘‘Transaction’’), in which the ISE Stock Exchange, LLC (‘‘ISE Stock’’), a Delaware limited liability company, will merge with and into Maple Merger Sub, LLC (‘‘Maple Merger Sub’’), a Delaware limited liability company and a wholly owned subsidiary of Direct Edge Holdings LLC (‘‘Direct Edge’’), with Maple Merger Sub being the surviving entity. The Exchange is proposing to make additional technical change to the Certificate of Incorporation to: (1) Remove the word ‘‘FIRST’’ before the opening paragraph and (2) add new text below the opening paragraph stating that the name of the corporation is International Securities Exchange Holdings, Inc. Text of the Proposed Rule Change Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Amendment of International Securities Exchange Holdings, Inc.’s Certificate of Incorporation 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 December 24, 2008, the International Securities Exchange, LLC (the ‘‘Exchange’’ or ‘‘ISE’’) 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 ISE. ISE has filed CFR 200.30–3(a)(12). 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 Underlining indicates additions; [Brackets] indicate deletion. Amended and Restated Certificate of Incorporation of International Securities Exchange Holdings, Inc. [FIRST:] The name of the corporation is International Securities Exchange Holdings, Inc. (the ‘‘Corporation’’). The Corporation was incorporated on November 16, 2004 by filing its Certificate of Incorporation with the Secretary of State of the State of Delaware under the name International Securities Exchange Holdings, Inc. FIRST: The name of the corporation is International Securities Exchange Holdings, Inc. (the ‘‘Corporation’’). * * * * * The text of the proposed rule change is available on the Exchange’s Web site www.ise.com, at the principal office of 18 17 VerDate Nov<24>2008 16:16 Jan 08, 2009 3 15 4 17 Jkt 217001 PO 00000 U.S.C. 78s(b)(3)(A)(iii). CFR 19b–4(f)(3). Frm 00101 Fmt 4703 Sfmt 4703 975 the Exchange, 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, 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 self-regulatory organization has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose On December 22, 2008, the Commission approved a rule filing submitted by the Exchange in connection with the Transaction 5 which included the Certificate of Incorporation. On December 23, 2008, the Exchange submitted a technical rule filing to make changes requested by the Delaware Secretary of State.6 The purpose of this rule filing is to make additional technical changes to the Certificate of Incorporation that were subsequently requested by the Delaware Secretary of State that are necessary to permit Holdings to file the Certificate of Incorporation to effect the Transaction. The Exchange is proposing to make technical changes to the Certificate of Incorporation to: (1) Remove the word ‘‘FIRST’’ before the opening paragraph and (2) add new text below the opening paragraph stating that the name of the corporation is International Securities Exchange Holdings, Inc. 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(1) that an exchange be so organized so as to have the capacity to be able to carry out the purposes of the Exchange Act and to comply, and (subject to any rule or order of the Commission pursuant to Section 17(d) or 19(g)(2) of the Exchange Act) to enforce compliance by its members and persons associated with its members, with the provisions of the Exchange Act, the rules and regulations 5 Release No. 34–59135 (December 22, 2007); File No. SR–ISE–2008–85. 6 See File No. SR–ISE–2008–97 (December 23, 2008). E:\FR\FM\09JAN1.SGM 09JAN1 976 Federal Register / Vol. 74, No. 6 / Friday, January 9, 2009 / Notices thereunder and the rules of the exchange. The Exchange also believes this proposed rule change furthers the objective of Section 6(b)(5) that an exchange have rules that, among other things, are designed to remove impediments to and perfect the mechanism for a free and open market and a national market system, and, in general, to protect investors and the public interest. In particular, the proposed rule change will allow the Exchange to effect the Transaction, which was approved by the Commission on December 22, 2008.7 Number SR–ISE–2008–100 on the subject line. SECURITIES AND EXCHANGE COMMISSION Paper Comments [Release No. 34–59194; File No. SR– NYSEArca–2008–135] • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–1090. IV. Solicitation of Comments All submissions should refer to File Number SR–ISE–2008–100. 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 ISE. 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 publicly available. All submissions should refer to File Number SR–ISE–2008–100 and should be submitted on or before January 30, 2009. 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: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–157 Filed 1–8–09; 8:45 am] Electronic Comments BILLING CODE 8011–01–P 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 The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action mstockstill on PROD1PC66 with NOTICES The foregoing rule change has become effective pursuant to Section 19(b)(3) of the Act 8 and Rule 19b–4(f)(3) 9 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. Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Accelerated Approval of Proposed Rule Change Amending Rule 6.47A To Reduce the Order Exposure Period From Three Seconds to One Second January 5, 2009. I. Introduction On December 9, 2008, NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’), filed with the Securities and Exchange Commission (‘‘Commission’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to reduce certain order exposure periods from three seconds to one second. The proposed rule change was published for comment in the Federal Register on December 18, 2008.3 The Commission received no comments on the proposal. This order approves the proposed rule change on an accelerated basis. II. Description of the Proposal The purpose of the proposed rule change is to reduce the exposure time during which order entry firms may not execute as principal against orders they represent as agent from three seconds to one second. Under the current NYSE Arca Rule 6.47A, Order Exposure Requirements–OX, order entry firms may not execute as principal, orders they represent as agent unless (i) the agency orders are first exposed on the NYSE Arca OX trading system for at least three seconds or (ii) the order entry firm has been bidding or offering for at least three seconds prior to receiving the agency order that is executable against such bid or offer. During this threesecond exposure period, other market participants may enter orders to trade against the exposed order. Under this proposal, the exposure period contained in Rule 6.47A would be reduced to one second. III. Discussion and Commission Findings After carefully reviewing the proposed rule change, the Commission finds that the proposal is consistent with the requirements of the Act and the rules and regulations thereunder • 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 1 15 7 See footnote 5. 8 15 U.S.C. 78s(b)(3)(A). 9 17 CFR 19b–4(f)(3). VerDate Nov<24>2008 16:16 Jan 08, 2009 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 59082 (December 11, 2008), 73 FR 77091 (‘‘Notice’’). 2 17 10 17 Jkt 217001 PO 00000 CFR 200.30–3(a)(12). Frm 00102 Fmt 4703 Sfmt 4703 E:\FR\FM\09JAN1.SGM 09JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 74, Number 6 (Friday, January 9, 2009)]
[Notices]
[Pages 975-976]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-157]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59196; File No. SR-ISE-2008-100]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change Relating to the Amendment of International Securities Exchange 
Holdings, Inc.'s Certificate of Incorporation

January 5, 2009.
    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 December 24, 2008, the International Securities Exchange, 
LLC (the ``Exchange'' or ``ISE'') 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 ISE. ISE has filed the proposed rule change pursuant to Section 
19(b)(3)(A)(iii) of the Act \3\ and Rule 19b-4(f)(3) thereunder,\4\ 
which renders the proposal effective upon filing with the Commission. 
The Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 19b-4(f)(3).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is proposing to make technical changes to the 
certificate of incorporation (the ``Certificate of Incorporation'') of 
its parent, International Securities Exchange Holdings, Inc. 
(``Holdings''), which will be adopted in connection with a corporate 
transaction (the ``Transaction''), in which the ISE Stock Exchange, LLC 
(``ISE Stock''), a Delaware limited liability company, will merge with 
and into Maple Merger Sub, LLC (``Maple Merger Sub''), a Delaware 
limited liability company and a wholly owned subsidiary of Direct Edge 
Holdings LLC (``Direct Edge''), with Maple Merger Sub being the 
surviving entity.

Certificate of Incorporation

    The Exchange is proposing to make additional technical change to 
the Certificate of Incorporation to: (1) Remove the word ``FIRST'' 
before the opening paragraph and (2) add new text below the opening 
paragraph stating that the name of the corporation is International 
Securities Exchange Holdings, Inc.

Text of the Proposed Rule Change

    Underlining indicates additions; [Brackets] indicate deletion.

Amended and Restated Certificate of Incorporation of International 
Securities Exchange Holdings, Inc.

    [FIRST:] The name of the corporation is International Securities 
Exchange Holdings, Inc. (the ``Corporation''). The Corporation was 
incorporated on November 16, 2004 by filing its Certificate of 
Incorporation with the Secretary of State of the State of Delaware 
under the name International Securities Exchange Holdings, Inc.
    FIRST: The name of the corporation is International Securities 
Exchange Holdings, Inc. (the ``Corporation'').
* * * * *
    The text of the proposed rule change is available on the Exchange's 
Web site www.ise.com, at the principal office of the Exchange, 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, 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 self-regulatory organization has prepared summaries, 
set forth in sections A, B, and C below, of the most significant 
aspects of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    On December 22, 2008, the Commission approved a rule filing 
submitted by the Exchange in connection with the Transaction \5\ which 
included the Certificate of Incorporation. On December 23, 2008, the 
Exchange submitted a technical rule filing to make changes requested by 
the Delaware Secretary of State.\6\ The purpose of this rule filing is 
to make additional technical changes to the Certificate of 
Incorporation that were subsequently requested by the Delaware 
Secretary of State that are necessary to permit Holdings to file the 
Certificate of Incorporation to effect the Transaction. The Exchange is 
proposing to make technical changes to the Certificate of Incorporation 
to: (1) Remove the word ``FIRST'' before the opening paragraph and (2) 
add new text below the opening paragraph stating that the name of the 
corporation is International Securities Exchange Holdings, Inc.
---------------------------------------------------------------------------

    \5\ Release No. 34-59135 (December 22, 2007); File No. SR-ISE-
2008-85.
    \6\ See File No. SR-ISE-2008-97 (December 23, 2008).
---------------------------------------------------------------------------

2. Statutory Basis
    The basis under the Act for this proposed rule change is the 
requirement under Section 6(b)(1) that an exchange be so organized so 
as to have the capacity to be able to carry out the purposes of the 
Exchange Act and to comply, and (subject to any rule or order of the 
Commission pursuant to Section 17(d) or 19(g)(2) of the Exchange Act) 
to enforce compliance by its members and persons associated with its 
members, with the provisions of the Exchange Act, the rules and 
regulations

[[Page 976]]

thereunder and the rules of the exchange. The Exchange also believes 
this proposed rule change furthers the objective of Section 6(b)(5) 
that an exchange have rules that, among other things, are designed to 
remove impediments to and perfect the mechanism for a free and open 
market and a national market system, and, in general, to protect 
investors and the public interest. In particular, the proposed rule 
change will allow the Exchange to effect the Transaction, which was 
approved by the Commission on December 22, 2008.\7\
---------------------------------------------------------------------------

    \7\ See footnote 5.
---------------------------------------------------------------------------

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

    The Exchange has not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any unsolicited written comments from members or other interested 
parties.

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) of the Act \8\ and Rule 19b-4(f)(3) \9\ 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.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 19b-4(f)(3).
---------------------------------------------------------------------------

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-ISE-2008-100 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-ISE-2008-100. 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 ISE. 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 publicly available. All 
submissions should refer to File Number SR-ISE-2008-100 and should be 
submitted on or before January 30, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E9-157 Filed 1-8-09; 8:45 am]
BILLING CODE 8011-01-P

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