Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of a Pilot Program for Directed Orders, 5007-5008 [E9-1808]
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Federal Register / Vol. 74, No. 17 / Wednesday, January 28, 2009 / Notices
statements contained therein) complied
as to form in all material respects with
the requirements of the 1933 Act (and
with the Trust Indenture Act of 1939, as
amended, if applicable) and nothing has
come to counsel’s attention that would
lead counsel to believe that the
registration statement at the time it
became effective contained an untrue
statement of a material fact or omitted
to state a material fact required to be
stated therein or necessary to make the
statements therein not misleading or
that the prospectus at the time the
registration statement became effective
or at the time of sale of the security
contained an untrue statement of a
material fact or omitted to state a
material fact necessary in order to make
the statements therein, in the light of the
circumstances under which they were
made, not misleading.]
[Prior to the consummation of the sale
of the security, counsel shall furnish a
statement to the Exchange as to the
action taken in order to comply with the
state ‘‘blue sky’’ law of any state in
which the security is offered or sold.]
[Without limiting the generality of the
foregoing, counsel, among other things,
is expected to give appropriate
consideration to (a) any other
transactions pursuant to which the
member organization has raised capital
in the past, or expects to do so in the
future, (b) the disclosure of material
information regarding the member
organization to offerees of the security,
and (c) the need for representation by
the purchaser of the securities as to his
intention to hold the securities for
investment.]
(e) through (f) No Change.
• • • Supplementary Material: ——
Information Regarding Partnership
Articles
.10 through .12 No Change.
[.14 A–B–C agreements.—[Rescinded
by NYSE–2005–77].]
[.18 Sole board member provision.—
[Removed by NYSE–2005–77].]
Information Regarding Member
Corporations
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.20 through. 23 No Change.
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Rule 416. Questionnaires and Reports
sroberts on PROD1PC70 with NOTICES
(a) No Change.
(b) No Change.
(c) No Change.
• • • Supplementary Material: ——
.10 No Change.
.20 Reserved. [Each member and
member organization shall, on an
ongoing basis and in such format as the
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Exchange may require, submit to the
Exchange, or its designated agent,
prescribed data of the member or
member organization, and of any brokerdealer that is a party to a carrying
agreement with a member or member
organization pursuant to NYSE Rule
382.]
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Text of NASD Rules to be Deleted in
Their Entirety from the Transitional
Rulebook
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3100. BOOKS AND RECORDS, AND
FINANCIAL CONDITION
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[3130. Regulation of Activities of
Members Experiencing Financial and/or
Operational Difficulties]
Entire text deleted.
[IM–3130. Restrictions on a Member’s
Activity]
Entire text deleted.
[3131. Regulation of Activities of
Section 15C Members Experiencing
Financial and/or Operational
Difficulties]
Entire text deleted.
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5007
NYSE RULE INTERPRETATION
[NYSE Rule 313 SUBMISSION OF
PARTNERSHIP ARTICLES]
[SUBMISSION OF CORPORATE
DOCUMENTS]
[(d) OPINION OF COUNSEL]
[/01 Loans, Demand Notes and
Partners’ Contributions]
Entire text deleted.
[/02 Independent Counsel]
Entire text deleted.
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[Rule 325 CAPITAL
REQUIREMENTS]
[(c)(1) Long Put or Call Options]
Entire text deleted.
[/01 SEC no-action letter to NYSE
dated January 31, 1990 provides interim
conditions for recognition of long
unlisted options, for U.S. Government
debt securities endorsed or guaranteed
by a limited group of narrowly defined
issuers.]
Entire text deleted.
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[Rule 416 QUESTIONNAIRES AND
REPORTS]
[/01 Gold and Silver Offerings]
Entire text deleted.
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Text of Incorporated NYSE Rules and
NYSE Rule Interpretations to be
Deleted in Their Entirety from the
Transitional Rulebook
[FR Doc. E9–1807 Filed 1–27–09; 8:45 am]
Incorporated NYSE Rules
SECURITIES AND EXCHANGE
COMMISSION
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[Rule 325. Capital Requirements
Member Organizations]
Entire text deleted.
[Rule 326(a). Growth Capital
Requirement]
Entire text deleted.
[Rule 326(b). Business Reduction
Capital Requirement]
Entire text deleted.
[Rule 326(c). Unsecured Loans and
Advances]
Entire text deleted.
[Rule 326(d). Reduction of
Elimination of Loans and Advances]
Entire text deleted.
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[Rule 328. Sale-And-Leasebacks,
Factoring, Financing and Similar
Arrangements]
Entire text deleted.
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[Rule 418. Audit]
Entire text deleted.
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[Rule 420. Reports of Borrowings and
Subordinate Loans For Capital
Purposes]
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[Rule 421. Periodic Reports]
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BILLING CODE 8011–01–P
[Release No. 34–59276; File No. SR–ISE–
2009–02]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to the Extension of a
Pilot Program for Directed Orders
January 22, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Exchange Act’’ or ‘‘Act’’),1 and Rule
19b–4 thereunder,2 notice is hereby
given that on January 12, 2009, the
International Securities Exchange, LLC
(‘‘ISE’’ 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 ISE. The proposed rule
change has been filed by the ISE as
effecting a change in an existing orderentry or trading system pursuant to
Section 19(b)(3)(A) of the Act,3 and Rule
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
2 17
E:\FR\FM\28JAN1.SGM
28JAN1
5008
Federal Register / Vol. 74, No. 17 / Wednesday, January 28, 2009 / Notices
19b–4(f)(5) 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.
Accordingly, the Exchange proposes to
extend the pilot for an additional four
months, until May 29, 2009, so that the
system change will remain in effect
while the Commission continues to
evaluate the Permanent Rule Change.8
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
2. Statutory Basis
The basis under the Exchange Act is
found in Section 6(b)(5), in that the
propose rule change is designed to
promote just and equitable principles of
trade, 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.
Extension of the pilot program will
allow the Exchange to continue
operating under the pilot while the
Commission considers the Permanent
Rule Change.
The ISE is proposing to extend the
pilot period for the system change that
identifies to a Directed Market Maker
(‘‘DMM’’) the identity of the firm
entering a Directed Order until May 29,
2009.
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 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 January 5, 2006, the ISE initiated
a system change to identify to a DMM
the identity of the firm entering a
Directed Order. The ISE filed this
system change on a pilot basis under
Section 19(b)(3)(A) of the Exchange Act
of 1934 (the ‘‘Exchange Act’’) and Rule
19b–4(f)(5) thereunder5 so that it would
be effective while the Commission
considered a separate proposed rule
change filed under Section 19(b)(2) of
the Exchange Act to amend the ISE’s
rules to reflect the system change on a
permanent basis (the ‘‘Permanent Rule
Change’’).6 The current pilot expires on
January 31, 2009,7 but the Commission
has not yet taken action with respect to
the Permanent Rule Change.
sroberts on PROD1PC70 with NOTICES
4 17
CFR 240.19b–4(f)(5).
5 Exchange Act Release No. 53104 (January 11,
2006), 71 FR 3142 (January 19, 2006) (Notice of
Filing and Immediate Effectiveness of SR–ISE–
2006–02).
6 Exchange Act Release No. 53103 (January 11,
2006), 71 FR 3144 (January 19, 2006) (Notice of
Filing of SR–ISE–2006–01).
7 Exchange Act Release No. 57196 (January 24,
2008), 73 FR 5615 (January 30, 2008) (Notice of
Filing and Immediate Effectiveness of SR–ISE–
2008–08).
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17:30 Jan 27, 2009
Jkt 217001
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
Exchange 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 written
comments from members or other
interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Exchange Act9 and Rule 19b–
4(f)(5)10 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
8 The ISE anticipated that extension of the pilot
might be necessary and included this in the filing
for the initial pilot. See supra note 5, at footnote
5.
9 15 U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(5).
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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–ISE–2009–02 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–ISE–2009–02. 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 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 available publicly. All
submissions should refer to File
Number SR–ISE–2009–02 and should be
submitted on or before February 18,
2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–1808 Filed 1–27–09; 8:45 am]
BILLING CODE 8011–01–P
11 17
E:\FR\FM\28JAN1.SGM
CFR 200.30–3(a)(12).
28JAN1
]]>Agencies
[Federal Register Volume 74, Number 17 (Wednesday, January 28, 2009)]
[Notices]
[Pages 5007-5008]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-1808]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59276; File No. SR-ISE-2009-02]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to the Extension of a Pilot Program for Directed Orders
January 22, 2009.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Exchange Act'' or ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice
is hereby given that on January 12, 2009, the International Securities
Exchange, LLC (``ISE'' 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 ISE. The proposed rule change has been filed by the ISE as
effecting a change in an existing order-entry or trading system
pursuant to Section 19(b)(3)(A) of the Act,\3\ and Rule
[[Page 5008]]
19b-4(f)(5) 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).
\4\ 17 CFR 240.19b-4(f)(5).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The ISE is proposing to extend the pilot period for the system
change that identifies to a Directed Market Maker (``DMM'') the
identity of the firm entering a Directed Order until May 29, 2009.
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 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 January 5, 2006, the ISE initiated a system change to identify
to a DMM the identity of the firm entering a Directed Order. The ISE
filed this system change on a pilot basis under Section 19(b)(3)(A) of
the Exchange Act of 1934 (the ``Exchange Act'') and Rule 19b-4(f)(5)
thereunder\5\ so that it would be effective while the Commission
considered a separate proposed rule change filed under Section 19(b)(2)
of the Exchange Act to amend the ISE's rules to reflect the system
change on a permanent basis (the ``Permanent Rule Change'').\6\ The
current pilot expires on January 31, 2009,\7\ but the Commission has
not yet taken action with respect to the Permanent Rule Change.
Accordingly, the Exchange proposes to extend the pilot for an
additional four months, until May 29, 2009, so that the system change
will remain in effect while the Commission continues to evaluate the
Permanent Rule Change.\8\
---------------------------------------------------------------------------
\5\ Exchange Act Release No. 53104 (January 11, 2006), 71 FR
3142 (January 19, 2006) (Notice of Filing and Immediate
Effectiveness of SR-ISE-2006-02).
\6\ Exchange Act Release No. 53103 (January 11, 2006), 71 FR
3144 (January 19, 2006) (Notice of Filing of SR-ISE-2006-01).
\7\ Exchange Act Release No. 57196 (January 24, 2008), 73 FR
5615 (January 30, 2008) (Notice of Filing and Immediate
Effectiveness of SR-ISE-2008-08).
\8\ The ISE anticipated that extension of the pilot might be
necessary and included this in the filing for the initial pilot. See
supra note 5, at footnote 5.
---------------------------------------------------------------------------
2. Statutory Basis
The basis under the Exchange Act is found in Section 6(b)(5), in
that the propose rule change is designed to promote just and equitable
principles of trade, 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. Extension of the pilot
program will allow the Exchange to continue operating under the pilot
while the Commission considers the Permanent Rule Change.
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 Exchange 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 written comments from members or other interested parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become effective pursuant to Section
19(b)(3)(A) of the Exchange Act\9\ and Rule 19b-4(f)(5)\10\ 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.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(5).
---------------------------------------------------------------------------
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-2009-02 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-ISE-2009-02. 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 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 available publicly. All
submissions should refer to File Number SR-ISE-2009-02 and should be
submitted on or before February 18, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------
\11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-1808 Filed 1-27-09; 8:45 am]
BILLING CODE 8011-01-P
