Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of a Proposed Rule Change Regarding Appointments and Obligations of CBSX DPMs, 22991-22993 [E9-11360]
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Federal Register / Vol. 74, No. 93 / Friday, May 15, 2009 / Notices
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.
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change is
effective upon filing pursuant to Section
19(b)(3)(A) 6 of the Act and
subparagraph (f)(2) of Rule 19b–4 7
thereunder, because it establishes a due,
fee, or other charge imposed by NYSE
Arca on its members. 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.
1. Purpose
The Exchange proposes adding a fee
for Market-on-Close (‘‘MOC’’) and Limiton-Close (‘‘LOC’’) orders executed in the
Closing Auction. A fee of $.0005 per
share will be charged for all MOC and
LOC orders executed in the Closing
Auction in NYSE Arca primary listed
securities, including all exchange traded
funds (‘‘ETFs’’) and exchange traded
notes (‘‘ETNs’’). The Exchange also
proposes charging a fee of $.0005 per
share for all MOC and LOC orders
executed in the Closing Auction in Tape
C ETFs and ETNs. Currently, the
Exchange does not charge a fee for
orders executed in the Closing Auction.
Lead Market Makers (‘‘LMMs’’)
executing orders in the Closing Auction
in securities in which the firm is
registered as the LMM will continue to
not be charged a fee. The proposed fee
will become operative on May 1, 2009,
and will apply to all pricing levels,
including tiered and basic rate pricing.
The Exchange believes that the
proposed changes to the Schedule are
equitable in that they apply uniformly
to all similarly situated Users.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the provisions of Section 6 of the
Securities Exchange Act of 1934 (the
‘‘Act’’), in general, and Section 6(b)(4) of
the Act, in particular, in that it is
designed to provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members and
other persons using its facilities. The
Exchange believes that the proposed
changes to the Schedule are equitable in
that they apply uniformly to all
similarly situated Users.
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.
VerDate Nov<24>2008
16:43 May 14, 2009
Jkt 217001
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–NYSEArca–2009–38 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–NYSEArca–2009–38. 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 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–NYSEArca–2009–38 and
should be submitted on or before June
5, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–11358 Filed 5–14–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59896; File No. SR–CBOE–
2009–030]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing of a
Proposed Rule Change Regarding
Appointments and Obligations of
CBSX DPMs
May 11, 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 May 7,
2009, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ 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
substantially prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
8 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
6 15
U.S.C. 78s(b)(3)(A).
7 17 CFR 240.19b–4(f)(2).
PO 00000
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1 15
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22991
E:\FR\FM\15MYN1.SGM
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22992
Federal Register / Vol. 74, No. 93 / Friday, May 15, 2009 / Notices
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The filing proposes to modify the
CBOE Stock Exchange (‘‘CBSX’’)
Designated Primary Market-Maker
(‘‘DPM’’) appointment and obligation
rules. The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.cboe.org/legal), 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
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
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
The purpose of this proposed rule
change is to modify CBSX Rule 53.54 to
provide CBSX with flexibility to
commence trading a security without an
assigned CBSX DPM.3 Several stock
exchanges provide a trading venue for
equity securities without assigned
specialists or primary market makers.
On CBSX, CBSX DPMs do not act as
agent for orders submitted to CBSX and
the matching of trades is handled by the
CBSX system. Accordingly, trading can
occur on the CBSX platform without
participation by a CBSX DPM. The
proposed rule change is not intended to
in any way affect existing DPM
appointments, instead it will allow
CBSX to offer for trading a broader range
of national market system securities.
There are currently securities not traded
on CBSX because CBSX DPMs have
opted to not seek assignments in such
securities (these are typically low
volume securities). The proposed filing
will allow CBSX users the ability to
trade these stocks on CBSX. The
Exchange does not believe that allowing
trading in these stocks without a DPM
will have an adverse impact on the
3 A DPM is a Market-Maker with heightened
responsibilities for assigned securities.
VerDate Nov<24>2008
16:43 May 14, 2009
Jkt 217001
Exchange’s market in these securities.
CBSX will notify participants, via
circular, when stocks without assigned
DPMs are added for trading.
The filing also proposes to modify the
CBSX DPM obligations in Rule 53.56 to
not require CBSX DPMs to quote until
8:30 a.m. Chicago time. Currently, CBSX
DPMs are obligated to provide opening
quotes (trading starts at 8:15 a.m.
Chicago time) and to continuously quote
throughout the day. As proposed, CBSX
DPMs desiring to submit opening quotes
could continue to do so, but would not
be required to continuously quote until
8:30 Chicago time when trading
volumes are more meaningful.
Lastly, the filing proposes to eliminate
Rule 53.54(c) which governed the
allocation process used by CBSX prior
to its initial launch.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with Section
6(b) of the Act 4 in general and furthers
the objectives of Section 6(b)(5) of the
Act 5 in particular in that it is designed
to promote just and equitable principles
of trade, to remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general, to protect
investors and the public interest
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which CBOE consents, the
Commission will:
A. By order approve such proposed
rule change, or
B. institute proceedings to determine
whether the proposed rule change
should be disapproved.
4 15
5 15
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
Frm 00112
Fmt 4703
Sfmt 4703
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–CBOE–2009–030 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–CBOE–2009–030. 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 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–CBOE–2009–030 and
should be submitted on or before
June 5, 2009.
E:\FR\FM\15MYN1.SGM
15MYN1
Federal Register / Vol. 74, No. 93 / Friday, May 15, 2009 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.6
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–11360 Filed 5–14–09; 8:45 am]
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
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–59895; File No. SR–
NYSEArca–2009–40]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and Order
Granting Accelerated Approval of
Proposed Rule Change Relating to the
Listing and Trading of ETFS Gold Trust
May 8, 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 May 1,
2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or
the ‘‘Exchange’’) 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 Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons and is
approving the proposed rule change on
an accelerated basis.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to list and
trade shares of the ETFS Gold Trust (the
‘‘Trust’’) pursuant to NYSE Arca
Equities Rule 8.201. A copy of this filing
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 III below.
The Exchange has prepared summaries,
set forth in sections A, B, and C below,
6 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Nov<24>2008
16:43 May 14, 2009
Jkt 217001
1. Purpose
The Exchange proposes to list and
trade ETFS Gold Shares (‘‘Shares’’) of
the Trust under NYSE Arca Equities
Rule 8.201. Under NYSE Arca Equities
Rule 8.201, the Exchange may propose
to list and/or trade pursuant to unlisted
trading privileges (‘‘UTP’’)
‘‘Commodity-Based Trust Shares.’’ 3 The
Commission has previously approved
listing on the Exchange under NYSE
Arca Equities Rule 8.201 shares of the
streetTRACKS Gold Trust and iShares
COMEX Gold Trust.4 Previous to their
listing on the Exchange, the
Commission approved listing of the
streetTRACKS Gold Trust on the New
York Stock Exchange (‘‘NYSE’’) and
listing of iShares COMEX Gold Trust on
the American Stock Exchange LLC.5 In
addition, the Commission has approved
trading of the streetTRACKS Gold Trust
and iShares Silver Trust and [sic] on the
Exchange pursuant to UTP.6 The
Commission also has approved listing of
the iShares Silver Trust on the
Exchange 7 and, previously, listing of
the iShares Silver Trust on the
American Stock Exchange LLC (now
known as ‘‘NYSE Amex LLC’’).8
3 Commodity-Based Trust Shares are securities
issued by a trust that represent investors’ discrete
identifiable and undivided beneficial ownership
interest in the commodities deposited into the
Trust.
4 See Securities Exchange Act Release No. 56224
(August 8, 2007), 72 FR 45850 (August 15, 2007)
(SR–NYSEArca–2007–76) (approving listing on the
Exchange of the streetTRACKS Gold Trust);
Securities Exchange Act Release No. 56041 (July 11,
2007), 72 FR 39114 (July 17, 2007) (SR–NYSEArca–
2007–43) (order approving listing on the Exchange
of iShares COMEX Gold Trust).
5 See Securities Exchange Act Release No. 50603
(October 28, 2004), 69 FR 64614 (November 5, 2004)
(SR–NYSE–2004–22) (order approving listing of
streetTRACKS Gold Trust on NYSE); Securities
Exchange Act Release No. 51058 (January 19, 2005),
70 FR 3749 (January 26, 2005) (SR–Amex–2004–38)
(order approving listing of iShares COMEX Gold
Trust on the American Stock Exchange LLC).
6 See Securities Exchange Act Release Nos. 53520
(March 20, 2006), 71 FR 14977 (March 24, 2006)
(SR–PCX–2005–117) (approving trading on the
Exchange pursuant to UTP of the iShares Silver
Trust); 51245 (February 23, 2005), 70 FR 10731
(March 4, 2005) (SR–PCX–2004–117) (approving
trading on the Exchange of the streetTRACKS Gold
Trust pursuant to UTP).
7 See Securities Exchange Act Release Nos. 58956
(November 14, 2008), 73 FR 71074 (November 24,
2008) (SR–NYSEArca–2008–124) (approving listing
on the Exchange of the iShares Silver Trust)).
8 See Securities Exchange Act Release No. 53521
(March 20, 2006), 71 FR 14967 (March 24, 2006)
(SR–Amex–2005–72) (approving listing on the
American Stock Exchange LLC of the iShares Silver
Trust).
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22993
The Trust will issue Shares which
represent units of fractional undivided
beneficial interest in and ownership of
the Trust. The investment objective of
the Trust is for the Shares to reflect the
performance of the price of gold bullion,
less the expenses of the Trust’s
operations.9
ETFS Services USA LLC is the
sponsor of the Trust (‘‘Sponsor’’), The
Bank of New York Mellon is the trustee
of the Trust (‘‘Trustee’’) 10, and HSBC
Bank USA, N.A. is the custodian of the
Trust (‘‘Custodian’’).11
The Exchange represents that the
Shares satisfy the requirements of NYSE
Arca Equities Rule 8.201 and thereby
qualify for listing on the Exchange.12
Operation of the Gold Bullion Market
The global trade in gold consists of
Over-the-Counter (OTC) transactions in
spot, forwards, and options and other
derivatives, together with exchangetraded futures and options. The OTC
market trades on a 24-hour per day
continuous basis and accounts for most
global gold trading.
9 See the Registration Statement for the ETFS
Gold Trust on Form S–1, filed with the Commission
on March 26, 2009 (No. 333–158221) (‘‘Registration
Statement’’). The descriptions of the Trust, the
Shares and the gold market contained herein are
based on the Registration Statement.
10 The Trustee is generally responsible for the
day-to-day administration of the Trust, including
keeping the Trust’s operational records. The
Trustee’s principal responsibilities include (1)
transferring the Trust’s gold as needed to pay the
Sponsor’s Fee in gold (gold transfers are expected
to occur approximately monthly in the ordinary
course), (2) valuing the Trust’s gold and calculating
the NAV of the Trust and the NAV per Share, (3)
receiving and processing orders from Authorized
Participants to create and redeem Baskets and
coordinating the processing of such orders with the
Custodian and DTC, (4) selling the Trust’s gold as
needed to pay any extraordinary Trust expenses
that are not assumed by the Sponsor, (5) when
appropriate, making distributions of cash or other
property to Shareholders, and (6) receiving and
reviewing reports from or on the Custodian’s
custody of and transactions in the Trust’s gold. The
Trustee shall, with respect to directing the
Custodian, act in accordance with the instructions
of the Sponsor.
11 The Custodian is responsible for safekeeping
for the Trust gold deposited with it by Authorized
Participants in connection with the creation of
Baskets. The Custodian is also responsible for
selecting its direct subcustodians, if any. The
Custodian facilitates the transfer of gold in and out
of the Trust through the unallocated gold accounts
it will maintain for each Authorized Participant and
the unallocated and allocated gold accounts it will
maintain for the Trust. The Custodian is responsible
for allocating specific bars of gold bullion to the
Trust’s allocated gold account. The Custodian will
provide the Trustee with regular reports detailing
the gold transfers in and out of the Trust’s
unallocated and allocated gold accounts and
identifying the gold bars held in the Trust’s
allocated gold account.
12 With respect to application of Rule 10A–3 (17
CFR 240.10A–3) under the Securities Exchange of
1934 (‘‘Act’’) (15 U.S.C. 78a), the Trust relies on the
exemption contained in Rule 10A–3(c)(7).
E:\FR\FM\15MYN1.SGM
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]]>Agencies
[Federal Register Volume 74, Number 93 (Friday, May 15, 2009)]
[Notices]
[Pages 22991-22993]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-11360]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-59896; File No. SR-CBOE-2009-030]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing of a Proposed Rule Change Regarding
Appointments and Obligations of CBSX DPMs
May 11, 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 May 7, 2009, the Chicago Board Options Exchange, Incorporated
(``CBOE'' 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 substantially
prepared by the Exchange. 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.
---------------------------------------------------------------------------
[[Page 22992]]
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The filing proposes to modify the CBOE Stock Exchange (``CBSX'')
Designated Primary Market-Maker (``DPM'') appointment and obligation
rules. The text of the proposed rule change is available on the
Exchange's Web site (https://www.cboe.org/legal), 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 Exchange included statements
concerning the purpose of, and basis for, the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The 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
The purpose of this proposed rule change is to modify CBSX Rule
53.54 to provide CBSX with flexibility to commence trading a security
without an assigned CBSX DPM.\3\ Several stock exchanges provide a
trading venue for equity securities without assigned specialists or
primary market makers. On CBSX, CBSX DPMs do not act as agent for
orders submitted to CBSX and the matching of trades is handled by the
CBSX system. Accordingly, trading can occur on the CBSX platform
without participation by a CBSX DPM. The proposed rule change is not
intended to in any way affect existing DPM appointments, instead it
will allow CBSX to offer for trading a broader range of national market
system securities. There are currently securities not traded on CBSX
because CBSX DPMs have opted to not seek assignments in such securities
(these are typically low volume securities). The proposed filing will
allow CBSX users the ability to trade these stocks on CBSX. The
Exchange does not believe that allowing trading in these stocks without
a DPM will have an adverse impact on the Exchange's market in these
securities. CBSX will notify participants, via circular, when stocks
without assigned DPMs are added for trading.
---------------------------------------------------------------------------
\3\ A DPM is a Market-Maker with heightened responsibilities for
assigned securities.
---------------------------------------------------------------------------
The filing also proposes to modify the CBSX DPM obligations in Rule
53.56 to not require CBSX DPMs to quote until 8:30 a.m. Chicago time.
Currently, CBSX DPMs are obligated to provide opening quotes (trading
starts at 8:15 a.m. Chicago time) and to continuously quote throughout
the day. As proposed, CBSX DPMs desiring to submit opening quotes could
continue to do so, but would not be required to continuously quote
until 8:30 Chicago time when trading volumes are more meaningful.
Lastly, the filing proposes to eliminate Rule 53.54(c) which
governed the allocation process used by CBSX prior to its initial
launch.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
Section 6(b) of the Act \4\ in general and furthers the objectives of
Section 6(b)(5) of the Act \5\ in particular in that it is designed to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general, to protect investors and the public
interest
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CBOE does not believe that the proposed rule change will impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange neither solicited nor received comments on the
proposal.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which CBOE consents, the Commission will:
A. By order approve such proposed rule change, or
B. institute proceedings to determine whether the proposed rule
change should be disapproved.
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-CBOE-2009-030 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-CBOE-2009-030. 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 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-CBOE-2009-030 and should be
submitted on or before June 5, 2009.
[[Page 22993]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\6\
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\6\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-11360 Filed 5-14-09; 8:45 am]
BILLING CODE 8010-01-P
