Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Elimination of Options Transaction Charge for Customer Executions in Options on RUT, RMN, MNX and NDX, 22190-22191 [E9-10993]
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22190
Federal Register / Vol. 74, No. 90 / Tuesday, May 12, 2009 / Notices
Commission will hold a Closed Meeting
on Thursday, May 14, 2009 at 2 p.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(5), (7), 9(B) and (10) and
17 CFR 200.402(a)(5), (7), 9(ii) and (10),
permit consideration of the scheduled
matters at the Closed Meeting.
Commissioner Walter, as duty officer,
voted to consider the item listed for the
Closed Meeting in closed session.
The subject matter of the Closed
Meeting scheduled for Thursday, May
14, 2009 will be: Institution and
settlement of injunctive actions;
Institution and settlement of
administrative proceedings of an
enforcement nature; Consideration of
amicus participation; Adjudicatory
matters; Resolution of litigation claims;
and Other matters related to
enforcement proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
Dated: May 7, 2009.
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–11100 Filed 5–8–09; 11:15 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59857; File No. SR–Phlx–
2009–41]
Self-Regulatory Organizations;
NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Elimination of Options Transaction
Charge for Customer Executions in
Options on RUT, RMN, MNX and NDX
rwilkins on PROD1PC63 with NOTICES
May 4, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934,1 notice
is hereby given that on April 29, 2009,
NASDAQ OMX PHLX, Inc. (‘‘Phlx’’ or
the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
1 15
U.S.C. 78s(b)(1).
VerDate Nov<24>2008
17:14 May 11, 2009
Jkt 217001
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Phlx. The Commission
is publishing this notice to solicit
comments on the proposed rule change
from interested parties.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to eliminate
the options transaction charge of $.12
per contract side for customer
executions in options on the Russell
2000® Index (the ‘‘Full Value Russell
Index’’ or ‘‘RUT’’), options on the onetenth value Russell 2000® Index 2 (the
‘‘Reduced Value Russell Index’’ or
‘‘RMN’’), options on the Nasdaq 100
Index 3 traded under the symbol NDX
(‘‘NDX’’) and options on the one-tenth
value of the Nasdaq 100 Index traded
under the symbol MNX (‘‘MNX’’).
While changes to the Fee Schedule
pursuant to this proposal are effective
upon filing, the Exchange has
designated these changes to be operative
for transactions settling on or after May
1, 2009.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxphlx.cchwallstreet.com/
NASDAQOMXPHLX/Filings/, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
2 Russell 2000® is a trademark and service mark
of the Frank Russell Company, used under license.
Neither Frank Russell Company’s publication of the
Russell Indexes nor its licensing of its trademarks
for use in connection with securities or other
financial products derived from a Russell Index in
any way suggests or implies a representation or
opinion by Frank Russell Company as to the
attractiveness of investment in any securities or
other financial products based upon or derived
from any Russell Index. Frank Russell Company is
not the issuer of any such securities or other
financial products and makes no express or implied
warranties of merchantability or fitness for any
particular purpose with respect to any Russell
Index or any data included or reflected therein, nor
as to results to be obtained by any person or any
entity from the use of the Russell Index or any data
included or reflected therein.
3 NASDAQ®, NASDAQ–100® and NASDAQ–100
Index® are registered trademarks of The NASDAQ
OMX Group, Inc. (which with its affiliates are the
‘‘Corporations’’) and are licensed for use by
NASDAQ OMX PHLX, Inc. in connection with the
trading of options products based on the NASDAQ–
100 Index®. The options products have not been
passed on by the Corporations as to their legality
or suitability. The options products are not issued,
endorsed, sold, or promoted by the Corporations.
The Corporations make no warranties and bear no
liability with respect to the options products.
PO 00000
Frm 00039
Fmt 4703
Sfmt 4703
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Phlx 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 Phlx 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, Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to eliminate the options
transaction charge of $.12 per contract
side for customer executions in options
on the Russell 2000® Index (the ‘‘Full
Value Russell Index’’) traded under the
symbol RUT, options on the one-tenth
value Russell 2000® Index (the
‘‘Reduced Value Russell Index’’) traded
under the symbol RMN (together
referred to as ‘‘Russell Products’’),
options on the Nasdaq 100 Index traded
under the symbol NDX and options on
the one-tenth value of the Nasdaq 100
Index traded under the symbol MNX
(together referred to as ‘‘Nasdaq
Products’’), in order that the Exchange
may remain competitive and continue to
attract order flow.
The Exchange currently assesses an
options transaction charge for customer
executions in options on the Nasdaq
Products, namely NDX and MNX,4 and
options on the Russell Products,
namely, RUT and RMN,5 of $.12 per
contract side. The Exchange will
continue to assess payment for order
flow fees 6 and surcharge fees 7 on the
Russell Products and the Nasdaq
Products. The Exchange proposes to
4 See Securities Exchange Release No. 58049
(June 27, 2008), 73 FR 38286 (July 3, 2008) (SR–
Phlx–2008–46). See also Securities Exchange Act
Release No. 57936 (June 6, 2008), 73 FR 33481 (June
12, 2008) (SR–Phlx–2008–36) (proposed rule
change relating to the listing and trading of options
on the Nasdaq Products).
5 See Securities Exchange Act Release No. 59243
(January 13, 2009), 74 FR 4272 (January 23, 2009)
(SR–Phlx–2008–86). See also Securities Exchange
Act Release No. 55305 (February 15, 2007), 72 FR
8240 (February 23, 2007) (SR–Phlx–2006–65).
6 See proposed rule change SR–Phlx–2009–39.
See also Securities Exchange Act Release No. 57851
(May 22, 2008), 73 FR 31177 (May 30, 2008) (SR–
Phlx–2008–38).
7 See Securities Exchange Act Release No. 58772
(October 10, 2008), 73 FR 63037 (October 22, 2008)
(SR–Phlx–2008–72).
E:\FR\FM\12MYN1.SGM
12MYN1
Federal Register / Vol. 74, No. 90 / Tuesday, May 12, 2009 / Notices
eliminate the $.12 per contract side
options transaction charge for customer
executions in options on NDX, MNX,
RUT and RMN to remain competitive
with other exchanges and attract
additional order flow to the Exchange.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the
Securities Exchange Act of 1934
(‘‘Act’’),8 in general, and furthers the
objectives of Section 6(b)(4) 9 of the Act
in particular, in that it is designed to
provide for the equitable allocation of
reasonable dues, fees, and other charges
among Exchange members and other
persons using its facilities. By
eliminating the $.12 per contract side
options transaction charge, the
Exchange believes that members will
benefit by not having an options
transaction charge for customer
executions in options on RUT, RMN,
NDX and MNX and the Exchange will
benefit by attracting order flow.
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 purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
No written comments were either
solicited or received.
rwilkins on PROD1PC63 with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change
establishes or changes a due, fee, or
other charge imposed by the Exchange,
it has become effective pursuant to
Section 19(b)(3)(A) of the Act 10 and
subparagraph (f)(2) of Rule 19b–4 11
thereunder. 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,
8 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(2).
17:14 May 11, 2009
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml ); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–Phlx–2009–41 on the
subject line.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59858; File No. SR–
NASDAQ–2009–039]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing of Proposed Rule Change To
Amend the Certificate of Incorporation
and By-Laws of The NASDAQ OMX
Group, Inc.
May 4, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
• Send paper comments in triplicate
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
to Elizabeth M. Murphy, Secretary,
notice is hereby given that on April 27,
Securities and Exchange Commission,
2009, The NASDAQ Stock Market LLC
100 F Street, NE., Washington, DC
(the ‘‘NASDAQ Exchange’’) filed with
20549–1090.
the Securities and Exchange
Commission (‘‘Commission’’) the
All submissions should refer to File
proposed rule change as described in
Number SR–Phlx–2009–41. This file
Items I, II, and III below, which Items
number should be included on the
subject line if e-mail is used. To help the have been prepared by the NASDAQ
Exchange. The Commission is
Commission process and review your
publishing this notice to solicit
comments more efficiently, please use
only one method. The Commission will comments on the proposed rule change
post all comments on the Commission’s from interested persons.
Internet Web site (https://www.sec.gov/
I. Self-Regulatory Organization’s
rules/sro.shtml ). Copies of the
Statement of the Terms of Substance of
submission, all subsequent
the Proposed Rule Change
amendments, all written statements
The NASDAQ Exchange is filing this
with respect to the proposed rule
proposed rule change with regard to
change that are filed with the
proposed changes to the Restated
Commission, and all written
Certificate of Incorporation (the
communications relating to the
‘‘Certificate’’) and the By-Laws of its
proposed rule change between the
Commission and any person, other than parent corporation, The NASDAQ OMX
Group, Inc. (‘‘NASDAQ OMX’’). The
those that may be withheld from the
proposed rule change will be
public in accordance with the
implemented as soon as practicable
provisions of 5 U.S.C. 552, will be
following approval by the Commission.
available for inspection and copying in
The text of the proposed rule change is
the Commission’s Public Reference
available at https://
Room, 100 F Street, NE., Washington,
www.cchwallstreet.com/nasdaq, at the
DC 20549, on official business days
between the hours of 10 a.m. and 3 p.m. NASDAQ Exchange’s principal office,
Copies of the filing also will be available and at the Commission’s Public
Reference Room.
for inspection and copying at the
principal office of Phlx. All comments
II. Self-Regulatory Organization’s
received will be posted without change; Statement of the Purpose of, and
the Commission does not edit personal
Statutory Basis for, the Proposed Rule
identifying information from
Change
submissions. You should submit only
In its filing with the Commission, the
information that you wish to make
NASDAQ Exchange included statements
available publicly.
concerning the purpose of and basis for
All submissions should refer to File
the proposed rule change and discussed
Number SR–Phlx–2009–41 and should
any comments it received on the
be submitted on or before June 2, 2009.
proposed rule change. The text of these
For the Commission, by the Division of
statements may be examined at the
Trading and Markets, pursuant to delegated
places specified in Item IV below. The
12
authority.
NASDAQ Exchange has prepared
Florence E. Harmon,
summaries, set forth in Sections A, B,
Deputy Secretary.
and C below, of the most significant
[FR Doc. E9–10993 Filed 5–11–09; 8:45 am]
aspects of such statements.
Paper Comments
BILLING CODE P
9 15
VerDate Nov<24>2008
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
1 15
12 17
Jkt 217001
22191
PO 00000
CFR 200.30–3(a)(12).
Frm 00040
Fmt 4703
Sfmt 4703
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
E:\FR\FM\12MYN1.SGM
12MYN1
]]>Agencies
[Federal Register Volume 74, Number 90 (Tuesday, May 12, 2009)]
[Notices]
[Pages 22190-22191]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-10993]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59857; File No. SR-Phlx-2009-41]
Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Elimination of Options Transaction Charge for Customer Executions in
Options on RUT, RMN, MNX and NDX
May 4, 2009.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of
1934,\1\ notice is hereby given that on April 29, 2009, NASDAQ OMX
PHLX, Inc. (``Phlx'' or the ``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 Phlx. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested parties.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to eliminate the options transaction charge
of $.12 per contract side for customer executions in options on the
Russell 2000[supreg] Index (the ``Full Value Russell Index'' or
``RUT''), options on the one-tenth value Russell 2000[supreg] Index \2\
(the ``Reduced Value Russell Index'' or ``RMN''), options on the Nasdaq
100 Index \3\ traded under the symbol NDX (``NDX'') and options on the
one-tenth value of the Nasdaq 100 Index traded under the symbol MNX
(``MNX'').
---------------------------------------------------------------------------
\2\ Russell 2000[supreg] is a trademark and service mark of the
Frank Russell Company, used under license. Neither Frank Russell
Company's publication of the Russell Indexes nor its licensing of
its trademarks for use in connection with securities or other
financial products derived from a Russell Index in any way suggests
or implies a representation or opinion by Frank Russell Company as
to the attractiveness of investment in any securities or other
financial products based upon or derived from any Russell Index.
Frank Russell Company is not the issuer of any such securities or
other financial products and makes no express or implied warranties
of merchantability or fitness for any particular purpose with
respect to any Russell Index or any data included or reflected
therein, nor as to results to be obtained by any person or any
entity from the use of the Russell Index or any data included or
reflected therein.
\3\ NASDAQ[supreg], NASDAQ-100[supreg] and NASDAQ-100
Index[supreg] are registered trademarks of The NASDAQ OMX Group,
Inc. (which with its affiliates are the ``Corporations'') and are
licensed for use by NASDAQ OMX PHLX, Inc. in connection with the
trading of options products based on the NASDAQ-100 Index[supreg].
The options products have not been passed on by the Corporations as
to their legality or suitability. The options products are not
issued, endorsed, sold, or promoted by the Corporations. The
Corporations make no warranties and bear no liability with respect
to the options products.
---------------------------------------------------------------------------
While changes to the Fee Schedule pursuant to this proposal are
effective upon filing, the Exchange has designated these changes to be
operative for transactions settling on or after May 1, 2009.
The text of the proposed rule change is available on the Exchange's
Web site at https://nasdaqomxphlx.cchwallstreet.com/NASDAQOMXPHLX/Filings/, 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, Phlx 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 Phlx 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, Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to eliminate the options
transaction charge of $.12 per contract side for customer executions in
options on the Russell 2000[supreg] Index (the ``Full Value Russell
Index'') traded under the symbol RUT, options on the one-tenth value
Russell 2000[supreg] Index (the ``Reduced Value Russell Index'') traded
under the symbol RMN (together referred to as ``Russell Products''),
options on the Nasdaq 100 Index traded under the symbol NDX and options
on the one-tenth value of the Nasdaq 100 Index traded under the symbol
MNX (together referred to as ``Nasdaq Products''), in order that the
Exchange may remain competitive and continue to attract order flow.
The Exchange currently assesses an options transaction charge for
customer executions in options on the Nasdaq Products, namely NDX and
MNX,\4\ and options on the Russell Products, namely, RUT and RMN,\5\ of
$.12 per contract side. The Exchange will continue to assess payment
for order flow fees \6\ and surcharge fees \7\ on the Russell Products
and the Nasdaq Products. The Exchange proposes to
[[Page 22191]]
eliminate the $.12 per contract side options transaction charge for
customer executions in options on NDX, MNX, RUT and RMN to remain
competitive with other exchanges and attract additional order flow to
the Exchange.
---------------------------------------------------------------------------
\4\ See Securities Exchange Release No. 58049 (June 27, 2008),
73 FR 38286 (July 3, 2008) (SR-Phlx-2008-46). See also Securities
Exchange Act Release No. 57936 (June 6, 2008), 73 FR 33481 (June 12,
2008) (SR-Phlx-2008-36) (proposed rule change relating to the
listing and trading of options on the Nasdaq Products).
\5\ See Securities Exchange Act Release No. 59243 (January 13,
2009), 74 FR 4272 (January 23, 2009) (SR-Phlx-2008-86). See also
Securities Exchange Act Release No. 55305 (February 15, 2007), 72 FR
8240 (February 23, 2007) (SR-Phlx-2006-65).
\6\ See proposed rule change SR-Phlx-2009-39. See also
Securities Exchange Act Release No. 57851 (May 22, 2008), 73 FR
31177 (May 30, 2008) (SR-Phlx-2008-38).
\7\ See Securities Exchange Act Release No. 58772 (October 10,
2008), 73 FR 63037 (October 22, 2008) (SR-Phlx-2008-72).
---------------------------------------------------------------------------
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (``Act''),\8\ in general, and furthers
the objectives of Section 6(b)(4) \9\ of the Act in particular, in that
it is designed to provide for the equitable allocation of reasonable
dues, fees, and other charges among Exchange members and other persons
using its facilities. By eliminating the $.12 per contract side options
transaction charge, the Exchange believes that members will benefit by
not having an options transaction charge for customer executions in
options on RUT, RMN, NDX and MNX and the Exchange will benefit by
attracting order flow.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
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 purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change establishes or changes a due,
fee, or other charge imposed by the Exchange, it has become effective
pursuant to Section 19(b)(3)(A) of the Act \10\ and subparagraph (f)(2)
of Rule 19b-4 \11\ thereunder. 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.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml ); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-Phlx-2009-41 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-Phlx-2009-41. 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 the filing also will be available for inspection and
copying at the principal office of Phlx. All comments received will be
posted without change; the Commission does not edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly.
All submissions should refer to File Number SR-Phlx-2009-41 and
should be submitted on or before June 2, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-10993 Filed 5-11-09; 8:45 am]
BILLING CODE P
