Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Alternext U.S. LLC To Delete Certain Rules Governing the Trading of Listed Options, 9461-9463 [E9-4562]
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Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Notices
efficient regulatory compliance for Dual
Members.
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 that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The Exchange believes that the
proposal qualifies for immediate
effectiveness upon filing as a noncontroversial rule change in accordance
with Section 19(b)(3)(A) of the Act 15
and Rule 19b–4(f)(6) 16 thereunder. The
Exchange asserts that the proposed rule
change (i) Will not significantly affect
the protection of investors or the public
interest, (ii) will not impose any
significant burden on competition, and
(iii) by its terms, will 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. In
addition, 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
business days prior to the date of filing.
A proposed rule change filed under
Rule 19b–4(f)(6) normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule19b–4(f)(6)(iii),17 the
Commission may designate a shorter
time if such action is consistent with the
protection of investors and the public
interest. The Exchange has asked the
Commission to waive the 30-day
operative delay so that the proposal may
become operative immediately upon
filing. The Exchange believes the waiver
of this period will allow it to conform
its rule to the FINRA NYSE
Incorporated Rule without delay and
ensure that there is no regulatory gap
among those rules. The Commission has
determined that waiving the 30-day
operative delay of the Exchange’s
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–NYSE–2009–14 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Securities and
Exchange Commission, 100 F Street,
NE., Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSE–2009–14. 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
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).
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
17 17 CFR 240.19b–4(f)(6)(iii).
16 17
15:08 Mar 03, 2009
IV. Solicitation of Comments
18 For
15 15
VerDate Nov<24>2008
proposal is consistent with the
protection of investors and the public
interest because such waiver will allow
the Exchange to promptly conform its
rules to the FINRA NYSE Incorporated
Rule and ensure elimination of any
potential regulatory gap.18 Therefore,
the Commission designates the proposal
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.
Jkt 217001
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9461
the Commission’s Public Reference
Room, 100 F Street, NE., Washington,
DC 20549–1090. Copies of the filing will
also be available for inspection and
copying at the NYSE’s principal office
and on its Internet Web site at https://
www.nyse.com. 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–NYSE–
2009–14 and should be submitted on or
before March 25, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.19
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–4557 Filed 3–3–09; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59454; File No. SR–
NYSEALTR–2009–17]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Alternext U.S. LLC To Delete Certain
Rules Governing the Trading of Listed
Options
February 25, 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 February
23, 2009, NYSE Alternext US LLC (the
‘‘Exchange’’ or ‘‘NYSE Alternext’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the Exchange. The
Exchange filed the proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(6) thereunder,4
which renders it effective upon filing
with the Commission. The Commission
is publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to delete old
rules governing the trading of listed
19 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).
4 17 CFR 240.19b–4(f)(6).
1 15
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9462
Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Notices
options which are being replaced by
rules identified in a separate filing, SRNYSEALTR–2008–14, which proposes
new Section 900NY. The old rules will
no longer apply upon a) the
implementation of a new trading
platform for options, NYSE Amex
System (‘‘System’’) and b) relocation of
the Trading Floor to 11 Wall Street, New
York, NY. The text of the proposed rule
change is available on the Exchange’s
Web site at https://www.nyse.com, at the
Exchange’s principal office, 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
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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
In a separate filing, SR–NYSEALTR–
2008–14, the Exchange has proposed
rules to introduce a modern electronic
trading platform to support options
trading, and in addition, proposes to
update and reorganize open outcry
trading at the time of the migration to
the new platform and the move to a new
Options Trading Floor at 11 Wall Street,
New York, NY. The new rule set is
proposed as Section 900NY.
Rule Section 900NY will replace
certain existing NYSE Alternext Rules.
These are, under General Rules, Rule 1,
Hours of Business; Rule 2, Visitors; Rule
21, Appointment of the Senior
Supervisory Officer, Senior Floor
Officials, Exchange Officials and Floor
Officials; Rule 21, Authority of Floor
Officials; Rule 27A, Allocation of
Options; Rule 170, Registration and
Functions of Specialists; Rule 171,
Specialist Financial Requirements; Rule
172, Relief and Temporary Specialists;
Rule 173, Relief and Temporary
Specialist Financial Requirements; Rule
174, Disclosures by Specialists
Prohibited; Rule 175, Specialist
Prohibitions. Under Trading of Options
Contracts, the superseded Rules are, in
Section 1, Rule 900, Applicability
VerDate Nov<24>2008
15:08 Mar 03, 2009
Jkt 217001
Definitions and References; in Section 2,
Rule 918, Trading Rotations, Halts, and
Suspensions; in Section 3, Rule 933,
Automatic Execution of Options Orders;
Rule 934, Limitation on Orders; Rule
936, Cancellation and Adjustment of
Equity Options Transactions; in Section
4, Rule 941, Operation of the Linkage;
Rule 942, Order Protection; Rule 943,
Locked Markets; Rule 944, Limitation
on Principal Order Access.
Additionally, Section 900NY will
replace, in Section 5—Floor Rules
Applicable to Options, Rule 950, Rules
of General Applicability; Rule 951,
Premium Bids and Offers; Rule 952,
Minimum Price Variations; Rule 953,
Acceptance of Bid or Offer; Rule 954,
Units of Trading; Rule 955, Floor
Reports of Exchange Options
Transactions; Rule 956, Open Orders on
‘‘Ex Date’’; Rule 957, Accounts, Orders
and Records of Registered Traders,
Designated NYSE Alternext Remote
Traders, Specialists and Associated
Persons; Rule 958, Options Transactions
of Registered Traders; Rule 958A,
Application of the Firm Quote Rule,
Rule 959, Accommodation Transactions;
in Section 9, Rule 992, Exchange
Options Market Data System; in Section
11—Stock Index Options, Rule 918C,
Trading Rotations, Halts and
Suspensions; and in ANTE Rules, all
Rules (Rule 900 –ANTE through Rule
997–ANTE).
This filing seeks to remove these
replaced Rules from the NYSE Alternext
US LLC Rulebook upon implementation
of the new NYSE Amex Options trading
system and the opening of the new
Trading Floor at 11 Wall Street.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 5 of the
Securities Exchange Act of 1934 (the
‘‘Act’’), in general, and furthers the
objectives of Section 6(b)(5) 6 in
particular in that it is designed to
prevent fraudulent and manipulative
acts and practices, to promote just and
equitable principles of trade, to foster
cooperation and coordination with
persons engaged in facilitating
transactions in securities, and to remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system.
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 that is not
5 15
6 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00081
Fmt 4703
Sfmt 4703
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not:
(i) Significantly affect the protection
of investors or the public interest;
(ii) Impose any significant burden on
competition; and
(iii) Become operative for 30 days
from the date on which it was filed, or
such shorter time as the Commission
may designate, if consistent with the
protection of investors and the public
interest, it has become effective
pursuant to Section 19(b)(3)(A) of the
Act 7 and Rule 19b–4(f)(6) thereunder.8
The Exchange has requested that the
Commission waive the 30-day operative
delay to the extent that such action is
necessary to make the proposed rule
change operative upon implementation
of the new NYSE Amex Options trading
system and the opening of the new
Options Trading Floor at 11 Wall
Street.9 The Commission hereby grants
the Exchange’s request and believes that
such action is consistent with the
protection of investors and the public
interest.10 If the Commission approves
SR–NYSEALTR–2008–14, it will be
necessary for this proposed rule change
to become operative simultaneously
with the operative date of the new rules
proposed in SR–NYSEALTR–2008–14.
Otherwise, the Exchange would have
conflicting rules on its books. Therefore,
the Commission waives any part of the
30-day period in connection with this
filing that is necessary to make the two
filings operative simultaneously. The
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires the self-regulatory organization
to submit to the Commission written notice of its
intent to file the proposed rule change, along with
a brief description and text of the proposed rule
change, at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission. The
Exchange has satisfied this requirement.
9 The implementation of the new trading system
and opening of the new Options Trading Floor are
currently scheduled for March 2, 2009, pending
approval of SR–NYSEALTR–2008–14.
10 For purposes only of waiving the operative date
of this proposal, the Commission has considered
the proposed rule’s impact on efficiency,
competition, and capital formation. See 15 U.S.C.
78c(f).
8 17
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Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Notices
Commission notes, however, that its
action in this matter is without
prejudice to any action it may take with
respect to SR–NYSEALTR–2008–14.
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–NYSEALTR–2009–17 on
the subject line.
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–
NYSEALTR–2009–17 and should be
submitted on or before March 25, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–4562 Filed 3–3–09; 8:45 am]
BILLING CODE 8011–01–P
15:08 Mar 03, 2009
Jkt 217001
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 III 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
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59453; File No. SR–
NYSEArca–2009–09]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Arca, Inc. To Adopt a Policy Relating
to its Treatment of Trade Reports That
it Determines To Be Inconsistent With
the Prevailing Market
February 25, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
Paper Comments
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that, on February
• Send paper comments in triplicate
9, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’
to Elizabeth M. Murphy, Secretary,
or ‘‘Exchange’’) filed with the Securities
Securities and Exchange Commission,
and Exchange Commission
100 F Street, NE., Washington, DC
(‘‘Commission’’) the proposed rule
20549–1090.
change as described in Items I and II
All submissions should refer to File
Number SR–NYSEALTR–2009–17. This below, which Items have been prepared
by the Exchange. The Exchange has
file number should be included on the
subject line if e-mail is used. To help the designated this proposal eligible for
immediate effectiveness pursuant to
Commission process and review your
Exchange Act Rule 19b–4(f)(6). The
comments more efficiently, please use
only one method. The Commission will Commission is publishing this notice to
post all comments on the Commission’s solicit comments on the proposal from
interested persons.
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
I. Self-Regulatory Organization’s
submission, all subsequent
Statement of the Terms of Substance of
amendments, all written statements
the Proposed Rule Change
with respect to the proposed rule
NYSE Arca, Inc. (the ‘‘Exchange’’),
change that are filed with the
through its wholly-owned subsidiary
Commission, and all written
NYSE Arca Equities, Inc. (‘‘NYSE Arca
communications relating to the
Equities’’), proposes to adopt a policy
proposed rule change between the
relating to its treatment of trade reports
Commission and any person, other than
that it determines to be inconsistent
those that may be withheld from the
with the prevailing market.
public in accordance with the
II. Self-Regulatory Organization’s
provisions of 5 U.S.C. 552, will be
Statement of the Purpose of, and
available for inspection and copying in
Statutory Basis for, the Proposed Rule
the Commission’s Public Reference
Room on official business days between Change
the hours of 10 a.m. and 3 p.m. Copies
In its filing with the Commission, the
of such filing also will be available for
Exchange included statements
inspection and copying at the principal
concerning the purpose of and basis for
office of the Exchange. All comments
received will be posted without change;
11 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
the Commission does not edit personal
2 17 CFR 240.19b–4.
identifying information from
VerDate Nov<24>2008
9463
PO 00000
Frm 00082
Fmt 4703
Sfmt 4703
Trades in listed securities
occasionally occur at prices that deviate
significantly from prevailing market
prices and those trades sometimes
establish a high, low or last sale price
for a security that does not reflect the
true market for the security.
The Consolidated Tape Association
(‘‘CTA’’) offers each Participant in the
CTA Plan the discretion to append an
indicator (an ‘‘Aberrant Report
Indicator’’) to a trade report to indicate
that the market believes that the trade
price in a trade executed on that market
does not accurately reflect the
prevailing market for the security. The
CTA recommends that data recipients
should exclude the price of any trade to
which the Aberrant Report Indicator has
been appended from any calculation of
the high, low and last sale prices for the
security.
During the course of surveillance by
the Exchange or as a result of
notification by another market, listed
company or market participant, the
Exchange may become aware of trade
prices that do not accurately reflect the
prevailing market for a security. In such
a case, the Exchange proposes to adopt
as policies that it:
• May determine to append an
Aberrant Report Indicator to any trade
report with respect to any trade
executed on the Exchange that the
Exchange determines to be inconsistent
with the prevailing market; and
• Shall discourage vendors and other
data recipients from using prices to
which the Exchange has appended the
Aberrant Report Indicator in any
calculation of the high, low or last sale
price of a security.
The Exchange will urge vendors to
disclose the exclusion from high, low or
last sale price data of any aberrant
trades excluded from high, low or last
sale price information they disseminate
and to provide to data users an
explanation of the parameters used in
the Exchange’s aberrant trade policy.
Upon initial adoption of the Aberrant
Report Indicator, the Exchange will also
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]]>Agencies
[Federal Register Volume 74, Number 41 (Wednesday, March 4, 2009)]
[Notices]
[Pages 9461-9463]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4562]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59454; File No. SR-NYSEALTR-2009-17]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NYSE Alternext U.S. LLC To
Delete Certain Rules Governing the Trading of Listed Options
February 25, 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 February 23, 2009, NYSE Alternext US LLC (the ``Exchange'' or ``NYSE
Alternext'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The Exchange
filed the proposed rule change pursuant to Section 19(b)(3)(A) of the
Act \3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders it 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)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to delete old rules governing the trading of
listed
[[Page 9462]]
options which are being replaced by rules identified in a separate
filing, SR-NYSEALTR-2008-14, which proposes new Section 900NY. The old
rules will no longer apply upon a) the implementation of a new trading
platform for options, NYSE Amex System (``System'') and b) relocation
of the Trading Floor to 11 Wall Street, New York, NY. The text of the
proposed rule change is available on the Exchange's Web site at https://www.nyse.com, at the Exchange's principal office, 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 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
In a separate filing, SR-NYSEALTR-2008-14, the Exchange has
proposed rules to introduce a modern electronic trading platform to
support options trading, and in addition, proposes to update and
reorganize open outcry trading at the time of the migration to the new
platform and the move to a new Options Trading Floor at 11 Wall Street,
New York, NY. The new rule set is proposed as Section 900NY.
Rule Section 900NY will replace certain existing NYSE Alternext
Rules. These are, under General Rules, Rule 1, Hours of Business; Rule
2, Visitors; Rule 21, Appointment of the Senior Supervisory Officer,
Senior Floor Officials, Exchange Officials and Floor Officials; Rule
21, Authority of Floor Officials; Rule 27A, Allocation of Options; Rule
170, Registration and Functions of Specialists; Rule 171, Specialist
Financial Requirements; Rule 172, Relief and Temporary Specialists;
Rule 173, Relief and Temporary Specialist Financial Requirements; Rule
174, Disclosures by Specialists Prohibited; Rule 175, Specialist
Prohibitions. Under Trading of Options Contracts, the superseded Rules
are, in Section 1, Rule 900, Applicability Definitions and References;
in Section 2, Rule 918, Trading Rotations, Halts, and Suspensions; in
Section 3, Rule 933, Automatic Execution of Options Orders; Rule 934,
Limitation on Orders; Rule 936, Cancellation and Adjustment of Equity
Options Transactions; in Section 4, Rule 941, Operation of the Linkage;
Rule 942, Order Protection; Rule 943, Locked Markets; Rule 944,
Limitation on Principal Order Access.
Additionally, Section 900NY will replace, in Section 5--Floor Rules
Applicable to Options, Rule 950, Rules of General Applicability; Rule
951, Premium Bids and Offers; Rule 952, Minimum Price Variations; Rule
953, Acceptance of Bid or Offer; Rule 954, Units of Trading; Rule 955,
Floor Reports of Exchange Options Transactions; Rule 956, Open Orders
on ``Ex Date''; Rule 957, Accounts, Orders and Records of Registered
Traders, Designated NYSE Alternext Remote Traders, Specialists and
Associated Persons; Rule 958, Options Transactions of Registered
Traders; Rule 958A, Application of the Firm Quote Rule, Rule 959,
Accommodation Transactions; in Section 9, Rule 992, Exchange Options
Market Data System; in Section 11--Stock Index Options, Rule 918C,
Trading Rotations, Halts and Suspensions; and in ANTE Rules, all Rules
(Rule 900 -ANTE through Rule 997-ANTE).
This filing seeks to remove these replaced Rules from the NYSE
Alternext US LLC Rulebook upon implementation of the new NYSE Amex
Options trading system and the opening of the new Trading Floor at 11
Wall Street.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) \5\ of the
Securities Exchange Act of 1934 (the ``Act''), in general, and furthers
the objectives of Section 6(b)(5) \6\ in particular in that it is
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in facilitating transactions in
securities, and to remove impediments to and perfect the mechanisms of
a free and open market and a national market system.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 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 that is not necessary or appropriate
in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not:
(i) Significantly affect the protection of investors or the public
interest;
(ii) Impose any significant burden on competition; and
(iii) Become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, if
consistent with the protection of investors and the public interest, it
has become effective pursuant to Section 19(b)(3)(A) of the Act \7\ and
Rule 19b-4(f)(6) thereunder.\8\
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\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the self-regulatory organization to submit to the
Commission written notice of its intent to file the proposed rule
change, along with a brief description and text of the proposed rule
change, at least five business days prior to the date of filing of
the proposed rule change, or such shorter time as designated by the
Commission. The Exchange has satisfied this requirement.
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The Exchange has requested that the Commission waive the 30-day
operative delay to the extent that such action is necessary to make the
proposed rule change operative upon implementation of the new NYSE Amex
Options trading system and the opening of the new Options Trading Floor
at 11 Wall Street.\9\ The Commission hereby grants the Exchange's
request and believes that such action is consistent with the protection
of investors and the public interest.\10\ If the Commission approves
SR-NYSEALTR-2008-14, it will be necessary for this proposed rule change
to become operative simultaneously with the operative date of the new
rules proposed in SR-NYSEALTR-2008-14. Otherwise, the Exchange would
have conflicting rules on its books. Therefore, the Commission waives
any part of the 30-day period in connection with this filing that is
necessary to make the two filings operative simultaneously. The
[[Page 9463]]
Commission notes, however, that its action in this matter is without
prejudice to any action it may take with respect to SR-NYSEALTR-2008-
14.
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\9\ The implementation of the new trading system and opening of
the new Options Trading Floor are currently scheduled for March 2,
2009, pending approval of SR-NYSEALTR-2008-14.
\10\ For purposes only of waiving the operative date of this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 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-NYSEALTR-2009-17 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-NYSEALTR-2009-17. 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 on official
business days between the hours of 10 a.m. and 3 p.m. Copies of such
filing also will be available for inspection and copying at the
principal office of the Exchange. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-NYSEALTR-2009-17 and should be submitted on or before
March 25, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-4562 Filed 3-3-09; 8:45 am]
BILLING CODE 8011-01-P
