Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Certificate of Incorporation of The NASDAQ OMX Group, Inc., 20773-20774 [E9-10196]

Download as PDF Federal Register / Vol. 74, No. 85 / Tuesday, May 5, 2009 / Notices 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–NYSEAmex–2009–15 and should be submitted on or before May 20, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Elizabeth M. Murphy, Secretary. [FR Doc. E9–10287 Filed 5–4–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59819; File No. SR–SCCP– 2009–02] Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Certificate of Incorporation of The NASDAQ OMX Group, Inc. April 23, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on April 2, 2009, Stock Clearing Corporation of Philadelphia (‘‘SCCP’’) 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 primarily by SCCP. SCCP filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 2 and Rule 19b–4(f)(3) 3 thereunder so that the proposal was 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 SCCP is filing this proposed rule change with regard to proposed changes to the Restated Certificate of Incorporation (‘‘Certificate’’) of its parent corporation, The NASDAQ OMX Group, Inc. (‘‘NASDAQ OMX’’). The proposed rule change will be implemented as soon as practicable following filing with the Commission. The text of the proposed rule change is 11 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78s–1(b)(3)(A)(iii). 3 17 CFR 240.19b–4(f)(3). VerDate Nov<24>2008 23:12 May 04, 2009 Jkt 217001 available at https:// www.nasdaqtrader.com/ Trader.aspx?id=SCCPApprovedRules, at SCCP’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, SCCP 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. SCCP has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of such statements.4 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose NASDAQ OMX is proposing to make amendments to its Certificate. As provided in Articles XI and XII of the NASDAQ OMX By-Laws, proposed amendments to the Certificate are to be reviewed by the Board of Directors of each self-regulatory subsidiary of NASDAQ OMX, and if any such proposed amendment must under Section 19 of the Act and the rules promulgated thereunder be filed with or filed with and approved by the Commission before such amendment may be effective, then such amendment shall not be effective until filed with or filed with and approved by the Commission as the case may be. The governing boards of NASDAQ OMX BX, Inc. (‘‘BX’’), NASDAQ OMX PHLX, Inc. (‘‘PHLX’’), The NASDAQ Stock Market LLC (‘‘NASDAQ Exchange’’), Boston Stock Exchange Clearing Corporation (‘‘BSECC’’), and SCCP have each reviewed the proposed change and determined that it should be filed with the Commission.5 The changes to the Certificate are limited in scope, and under Delaware law, they do not require approval by the stockholders of NASDAQ OMX. Specifically, NASDAQ OMX is proposing to restate without amendment its Certificate. The Certificate is composed of a previous Restated Certificate of Incorporation adopted in 4 The Commission has modified parts of these statements. 5 The NASDAQ Exchange, PHLX, BX, BSECC, and SCCP are each submitting this filing pursuant to Section 19(b)(3)(A)(iii) of the Act, 15 U.S.C. 78s(b)(3)(A)(iii). PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 20773 2003 and numerous subsequent amendments, which under Delaware law are adopted as freestanding documents. However, Delaware law allows the various documents comprising a certificate of incorporation to be consolidated into a single restated certificate upon approval of a corporation’s board of directors. The change will assist interested persons, including NASDAQ OMX stockholders and Commission staff, in reading the Certificate without having to review multiple documents. The restated Certificate reflects the deletion of both the Certificate of Designations, Preferences and Rights of Series D Preferred Stock, and the Certificate of Elimination that was recently filed with respect to it.6 Since the latter component of the Certificate cancels the former, they are both deleted from the restated Certificate. 2. Statutory Basis SCCP believes that the proposed rule change is consistent with provisions of Section 17A of the Act,7 in general, and with Section 17A(b)(3)(A) of the Act 8 in particular in that it is designed to ensure that SCCP is so organized and has the capacity to be able to facilitate the prompt and accurate clearance and settlement of securities transactions. The proposed change will enhance the clarity of NASDAQ OMX’s governance documents by restating the various documents comprising the Certificate as a single document. (B) Self-Regulatory Organization’s Statement on Burden on Competition SCCP does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act, as amended. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 6 Securities Exchange Act Release No. 59460 (February 26, 2009), 74 FR 9841 (March 6, 2009) (SR–NASDAQ–2009–010, SR–BX–2009–009, SR– Phlx–2009–14); Securities Exchange Act Release No. 59496 (March 3, 2009), 74 FR 10626 (March 11, 2009) (SR–BSECC–2009–01); Securities Exchange Act Release No. 59494 (March 3, 2009), 74 FR 10642 (March 11, 2009) (SR–SCCP–2009–01). 7 15 U.S.C. 78q–1. 8 15 U.S.C. 78q–1(b)(3)(A). E:\FR\FM\05MYN1.SGM 05MYN1 20774 Federal Register / Vol. 74, No. 85 / Tuesday, May 5, 2009 / Notices 19(b)(3)(A)(iii) of the Act 9 and Rule 19b–4(f)(3) 10 promulgated thereunder because the proposal change is concerned solely with the administration of SCCP. At any time within sixty 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–SCCP–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–SCCP–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 9 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(3). 10 17 VerDate Nov<24>2008 23:12 May 04, 2009 Jkt 217001 available for inspection and copying at the principal office of SCCP. 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–SCCP–2009–02 and should be submitted on or before May 26, 2009. For the Commission by the Division of Trading and Markets, pursuant to delegated authority.11 Elizabeth M. Murphy, Secretary. [FR Doc. E9–10196 Filed 5–4–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59818; File No. SR– BSECC–2009–03] Self-Regulatory Organizations; Boston Stock Exchange Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Certificate of Incorporation of The NASDAQ OMX Group, Inc. April 23, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on April 2, 2009, Boston Stock Exchange Clearing Corporation (‘‘BSECC’’) 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 primarily by BSECC. BSECC filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 2 and Rule 19b–4(f)(3) 3 thereunder so that the proposal was 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 BSECC is filing this proposed rule change with regard to proposed changes to the Restated Certificate of Incorporation (‘‘Certificate’’) of its parent corporation, The NASDAQ OMX Group, Inc. (‘‘NASDAQ OMX’’). The proposed rule change will be 11 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78s–1(b)(3)(A)(iii). 3 17 CFR 240.19b–4(f)(3). PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 implemented as soon as practicable following filing with the Commission. The text of the proposed rule change is available at https:// www.nasdaqtrader.com/ Trader.aspx?id=BSECCIE2009, at BSECC’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, BSECC 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. BSECC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of such statements.4 (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose NASDAQ OMX is proposing to make amendments to its Certificate. As provided in Articles XI and XII of the NASDAQ OMX By-Laws, proposed amendments to the Certificate are to be reviewed by the Board of Directors of each self-regulatory subsidiary of NASDAQ OMX, and if any such proposed amendment must under Section 19 of the Act and the rules promulgated thereunder be filed with or filed with and approved by the Commission before such amendment may be effective, then such amendment shall not be effective until filed with or filed with and approved by the Commission as the case may be. The governing boards of NASDAQ OMX BX, Inc. (‘‘BX’’), NASDAQ OMX PHLX, Inc. (‘‘PHLX’’), The NASDAQ Stock Market LLC (‘‘NASDAQ Exchange’’), BSECC, and Stock Clearing Corporation of Philadelphia (‘‘SCCP’’) have each reviewed the proposed change and determined that it should be filed with the Commission.5 The changes to the Certificate are limited in scope, and under Delaware law, they do not require approval by the stockholders of NASDAQ OMX. Specifically, NASDAQ OMX is proposing to restate without amendment 4 The Commission has modified parts of these statements. 5 The NASDAQ Exchange, PHLX, BX, BSECC, and SCCP are each submitting this filing pursuant to Section 19(b)(3)(A)(iii) of the Act, 15 U.S.C. 78s(b)(3)(A)(iii). E:\FR\FM\05MYN1.SGM 05MYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 74, Number 85 (Tuesday, May 5, 2009)]
[Notices]
[Pages 20773-20774]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-10196]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59819; File No. SR-SCCP-2009-02]


Self-Regulatory Organizations; Stock Clearing Corporation of 
Philadelphia; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Amend the Certificate of Incorporation of The 
NASDAQ OMX Group, Inc.

April 23, 2009.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on April 2, 2009, Stock 
Clearing Corporation of Philadelphia (``SCCP'') 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 primarily by SCCP. SCCP filed the proposed rule change 
pursuant to Section 19(b)(3)(A)(iii) of the Act \2\ and Rule 19b-
4(f)(3) \3\ thereunder so that the proposal was 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\ 15 U.S.C. 78s-1(b)(3)(A)(iii).
    \3\ 17 CFR 240.19b-4(f)(3).
---------------------------------------------------------------------------

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

    SCCP is filing this proposed rule change with regard to proposed 
changes to the Restated Certificate of Incorporation (``Certificate'') 
of its parent corporation, The NASDAQ OMX Group, Inc. (``NASDAQ OMX''). 
The proposed rule change will be implemented as soon as practicable 
following filing with the Commission. The text of the proposed rule 
change is available at https://www.nasdaqtrader.com/Trader.aspx?id=SCCPApprovedRules, at SCCP'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, SCCP 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. SCCP has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of such 
statements.\4\
---------------------------------------------------------------------------

    \4\ The Commission has modified parts of these statements.
---------------------------------------------------------------------------

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

1. Purpose
    NASDAQ OMX is proposing to make amendments to its Certificate. As 
provided in Articles XI and XII of the NASDAQ OMX By-Laws, proposed 
amendments to the Certificate are to be reviewed by the Board of 
Directors of each self-regulatory subsidiary of NASDAQ OMX, and if any 
such proposed amendment must under Section 19 of the Act and the rules 
promulgated thereunder be filed with or filed with and approved by the 
Commission before such amendment may be effective, then such amendment 
shall not be effective until filed with or filed with and approved by 
the Commission as the case may be. The governing boards of NASDAQ OMX 
BX, Inc. (``BX''), NASDAQ OMX PHLX, Inc. (``PHLX''), The NASDAQ Stock 
Market LLC (``NASDAQ Exchange''), Boston Stock Exchange Clearing 
Corporation (``BSECC''), and SCCP have each reviewed the proposed 
change and determined that it should be filed with the Commission.\5\ 
The changes to the Certificate are limited in scope, and under Delaware 
law, they do not require approval by the stockholders of NASDAQ OMX.
---------------------------------------------------------------------------

    \5\ The NASDAQ Exchange, PHLX, BX, BSECC, and SCCP are each 
submitting this filing pursuant to Section 19(b)(3)(A)(iii) of the 
Act, 15 U.S.C. 78s(b)(3)(A)(iii).
---------------------------------------------------------------------------

    Specifically, NASDAQ OMX is proposing to restate without amendment 
its Certificate. The Certificate is composed of a previous Restated 
Certificate of Incorporation adopted in 2003 and numerous subsequent 
amendments, which under Delaware law are adopted as freestanding 
documents. However, Delaware law allows the various documents 
comprising a certificate of incorporation to be consolidated into a 
single restated certificate upon approval of a corporation's board of 
directors. The change will assist interested persons, including NASDAQ 
OMX stockholders and Commission staff, in reading the Certificate 
without having to review multiple documents. The restated Certificate 
reflects the deletion of both the Certificate of Designations, 
Preferences and Rights of Series D Preferred Stock, and the Certificate 
of Elimination that was recently filed with respect to it.\6\ Since the 
latter component of the Certificate cancels the former, they are both 
deleted from the restated Certificate.
---------------------------------------------------------------------------

    \6\ Securities Exchange Act Release No. 59460 (February 26, 
2009), 74 FR 9841 (March 6, 2009) (SR-NASDAQ-2009-010, SR-BX-2009-
009, SR-Phlx-2009-14); Securities Exchange Act Release No. 59496 
(March 3, 2009), 74 FR 10626 (March 11, 2009) (SR-BSECC-2009-01); 
Securities Exchange Act Release No. 59494 (March 3, 2009), 74 FR 
10642 (March 11, 2009) (SR-SCCP-2009-01).
---------------------------------------------------------------------------

2. Statutory Basis
    SCCP believes that the proposed rule change is consistent with 
provisions of Section 17A of the Act,\7\ in general, and with Section 
17A(b)(3)(A) of the Act \8\ in particular in that it is designed to 
ensure that SCCP is so organized and has the capacity to be able to 
facilitate the prompt and accurate clearance and settlement of 
securities transactions. The proposed change will enhance the clarity 
of NASDAQ OMX's governance documents by restating the various documents 
comprising the Certificate as a single document.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78q-1.
    \8\ 15 U.S.C. 78q-1(b)(3)(A).
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    SCCP does not believe that the proposed rule change will result in 
any burden on competition that is not necessary or appropriate in 
furtherance of the purposes of the Act, as amended.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants, or Others

    Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section

[[Page 20774]]

19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(3) \10\ promulgated 
thereunder because the proposal change is concerned solely with the 
administration of SCCP. At any time within sixty 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.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 17 CFR 240.19b-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-SCCP-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-SCCP-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 SCCP. 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-SCCP-2009-02 and should be 
submitted on or before May 26, 2009.

    For the Commission by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-10196 Filed 5-4-09; 8:45 am]
BILLING CODE 8010-01-P

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