Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of Proposed Rule Change Relating to Rebating Member Dues for Certain Members, 24888-24889 [E9-12090]

Download as PDF 24888 Federal Register / Vol. 74, No. 99 / Tuesday, May 26, 2009 / Notices concerning the securities of Nanosignal Corp., Inc. (n/k/a Nano Global, Inc.) because it has not filed any periodic reports since the period ended September 30, 2004. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of National Micronetics, Inc. because it has not filed any periodic reports since the period ended March 31, 2000. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of NetVoice Technologies Corp. because it has not filed any periodic reports since the period ended June 30, 2001. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Network Access Solutions Corp. because it has not filed any periodic reports since the period ended March 31, 2002. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Network Plus Corp. because it has not filed any periodic reports since the period ended September 30, 2001. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of The New Anaconda Co. because it has not filed any periodic reports since the period ended December 31, 2000. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of New York Regional Rail Corp. because it has not filed any periodic reports since the period ended September 30, 2005. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of NewCom International, Inc. (n/k/a Sino Express Travel Ltd.) because it has not filed any periodic reports since the period ended September 30, 2003. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of NewKidCo International, Inc. because it has not filed any periodic reports since the period ended December 31, 2001. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of NexGen Vision, Inc. because it has not filed any periodic reports since the period ended June 30, 2003. VerDate Nov<24>2008 20:08 May 22, 2009 Jkt 217001 It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Noel Group, Inc. because it has not filed any periodic reports since the period ended June 30, 1999. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the securities of the above-listed companies is suspended for the period from 9:30 a.m. EDT on May 21, 2009, through 11:59 p.m. EDT on June 4, 2009. the Exchange’s Office of the Secretary and at the Commission’s Public Reference Room. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. E9–12253 Filed 5–21–09; 4:15 pm] A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change BILLING CODE 8010–01–P 1. Purpose CBOE assesses dues with respect to every membership (unless a member is assessed the Hybrid Electronic Quoting Fee, in which case the member does not pay member dues).4 Under Rule 3.17(c), the membership lease agreement between a lessor member and a lessee member designates who is responsible for Exchange dues, fees and other charges. Typically, leases provide that the lessee is responsible for dues and therefore lessors do not pay dues. Under the lessor compensation component of the Interim Trading Permit (‘‘ITP’’) program, the Exchange compensates a lessor for an ‘‘open lease’’ while the ITP program is active and ITPs are outstanding.5 The goal of this component of the ITP program is to put such a lessor in a similar position as if the lessor’s membership was leased. This goal would be frustrated if the lessor is charged dues because the lessor would be subject to an obligation the lessor would not otherwise be subject to if the lessor’s membership was leased. Consistent with this goal, the Exchange will waive member dues for a lessor member for any month in which the lessor receives a payment from the Exchange for an open lease under the ITP program. This waiver became effective on May 1, 2009, pursuant to a SECURITIES AND EXCHANGE COMMISSION [Release No. 34–59935; File No. SR–CBOE– 2009–028] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of Proposed Rule Change Relating to Rebating Member Dues for Certain Members May 18, 2009. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 notice is hereby given that, on May 6, 2009, Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by CBOE. 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 Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) proposes to amend its Fees Schedule to rebate member dues for certain members. The text of the proposed rule change is available on the Exchange’s Web site (https://www.cboe.org/legal), at 1 15 U.S.C. 78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00120 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, CBOE 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. CBOE has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. 4 Member dues are $450 per month. See CBOE Fees Schedule, Section 10. 5 The ITP program is a program pursuant to which the Exchange has the authority to issue up to 50 ITPs. The ITP program is governed by CBOE Rule 3.27. The lessor compensation component of the ITP program is described in CBOE Rule 3.27(d). An ‘‘open lease’’ is defined in Rule 3.27(d) as a transferable Exchange membership available for lease. E:\FR\FM\26MYN1.SGM 26MYN1 Federal Register / Vol. 74, No. 99 / Tuesday, May 26, 2009 / Notices previous rule change that was filed by the Exchange for immediate effectiveness.6 The Exchange now proposes to rebate dues to any lessor member who received such a payment from the Exchange during the period August 1, 2008,7 through April 30, 2009. 2. Statutory Basis The Exchange believes 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 its members and other persons using its facilities. The Exchange believes the proposed rebate of member dues is equitable and reasonable in that it would help the Exchange place a lessor member who received compensation from the Exchange for an open lease under the ITP program prior to May 1, 2009, in a similar position as if the lessor’s membership had been leased, consistent with Exchange Rule 3.27(d). 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 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 solicited or received with respect to the proposed rule change. 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 the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change, or 6 See SR–CBOE–2009–027. ITP program was approved by the Commission on July 17, 2008. See Securities Exchange Act Release No. 58178 (July 17, 2008), 73 FR 42634 (July 22, 2008). 8 15 U.S.C. 78f(b). 9 15 U.S.C. 78f(b)(4). 7 The VerDate Nov<24>2008 20:08 May 22, 2009 Jkt 217001 (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: 24889 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–12090 Filed 5–22–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 59933; File No. SR–NASDAQ– 2009–028] 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–2009–028 on the subject line. Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Order Approving Proposed Rule Change to Reduce Fees for NASDAQ Basic Data Feeds May 15, 2009. I. Introduction Paper Comments On March 27, 2009, The NASDAQ Stock Market LLC (‘‘NASDAQ’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act All submissions should refer to File of 1934 (‘‘Act’’) 1 and Rule 19b–4 Number SR–CBOE–2009–028. This file thereunder,2 a proposed rule change to number should be included on the reduce the fees for NASDAQ Basic, a subject line if e-mail is used. To help the real time data feed combining both Commission process and review your NASDAQ’s Best Bid and Offer comments more efficiently, please use (‘‘QBBO’’) and the NASDAQ Last Sale. only one method. The Commission will The proposed rule change was post all comments on the Commission’s published for comment in the Federal Internet Web site (https://www.sec.gov/ Register on April 14, 2009.3 The rules/sro.shtml). Copies of the Commission received no comment submission, all subsequent letters on the proposal. This order amendments, all written statements approves the proposed rule change. with respect to the proposed rule II. Description of the Proposal change that are filed with the Commission, and all written NASDAQ Basic is a ‘‘Level 1’’ data communications relating to the product containing quotation proposed rule change between the information from the NASDAQ Market Commission and any person, other than Center and last sale data from the those that may be withheld from the NASDAQ Market Center. NASDAQ public in accordance with the Basic was approved on March 16, 2009,4 provisions of 5 U.S.C. 552, will be as a pilot program and includes fees for available for inspection and copying in usage and distribution of the data. the Commission’s Public Reference NASDAQ Basic is available in three Room, 100 F Street, NE., Washington, forms, NASDAQ Basic for NASDAQ, DC 20549, on official business days NASDAQ Basic for NYSE, and between the hours of 10 a.m. and 3 p.m. NASDAQ Basic for Alternext. NASDAQ Copies of the filing will also be available Basic is designed to meet the needs of for inspection and copying at the current and prospective subscribers that principal office of the self-regulatory do not need or are unwilling to pay for organization. All comments received the consolidated data provided by the will be posted without change; the consolidated Level 1 products. Commission does not edit personal identifying information from 10 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). submissions. You should submit only 2 17 CFR 240.19b–4. information that you wish to make 3 See Securities Exchange Act Release No. 59712 available publicly. All submissions (April 6, 2009), 74 FR 17273. should refer to File Number SR–CBOE– 4 See Securities Exchange Act Release No. 59582 2009–028 and should be submitted on (March 16, 2009) 74 FR 12423 (March 24, 2009) or before June 16, 2009. (SR–NASDAQ–2008–102) (‘‘Pilot Approval Order’’). • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 E:\FR\FM\26MYN1.SGM 26MYN1

Agencies

[Federal Register Volume 74, Number 99 (Tuesday, May 26, 2009)]
[Notices]
[Pages 24888-24889]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-12090]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-59935; File No. SR-CBOE-2009-028]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing of Proposed Rule Change Relating to 
Rebating Member Dues for Certain Members

May 18, 2009.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that, on May 6, 2009, Chicago Board Options Exchange, 
Incorporated (``CBOE'' or the ``Exchange'') filed with the Securities 
and Exchange Commission (the ``Commission'') the proposed rule change 
as described in Items I, II, and III below, which Items have been 
prepared by CBOE. 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. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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

    Chicago Board Options Exchange, Incorporated (``CBOE'' or 
``Exchange'') proposes to amend its Fees Schedule to rebate member dues 
for certain members. The text of the proposed rule change is available 
on the Exchange's Web site (https://www.cboe.org/legal), at the 
Exchange's Office of the Secretary 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, CBOE 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. CBOE 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
    CBOE assesses dues with respect to every membership (unless a 
member is assessed the Hybrid Electronic Quoting Fee, in which case the 
member does not pay member dues).\4\ Under Rule 3.17(c), the membership 
lease agreement between a lessor member and a lessee member designates 
who is responsible for Exchange dues, fees and other charges. 
Typically, leases provide that the lessee is responsible for dues and 
therefore lessors do not pay dues.
---------------------------------------------------------------------------

    \4\ Member dues are $450 per month. See CBOE Fees Schedule, 
Section 10.
---------------------------------------------------------------------------

    Under the lessor compensation component of the Interim Trading 
Permit (``ITP'') program, the Exchange compensates a lessor for an 
``open lease'' while the ITP program is active and ITPs are 
outstanding.\5\ The goal of this component of the ITP program is to put 
such a lessor in a similar position as if the lessor's membership was 
leased. This goal would be frustrated if the lessor is charged dues 
because the lessor would be subject to an obligation the lessor would 
not otherwise be subject to if the lessor's membership was leased.
---------------------------------------------------------------------------

    \5\ The ITP program is a program pursuant to which the Exchange 
has the authority to issue up to 50 ITPs. The ITP program is 
governed by CBOE Rule 3.27. The lessor compensation component of the 
ITP program is described in CBOE Rule 3.27(d). An ``open lease'' is 
defined in Rule 3.27(d) as a transferable Exchange membership 
available for lease.
---------------------------------------------------------------------------

    Consistent with this goal, the Exchange will waive member dues for 
a lessor member for any month in which the lessor receives a payment 
from the Exchange for an open lease under the ITP program. This waiver 
became effective on May 1, 2009, pursuant to a

[[Page 24889]]

previous rule change that was filed by the Exchange for immediate 
effectiveness.\6\ The Exchange now proposes to rebate dues to any 
lessor member who received such a payment from the Exchange during the 
period August 1, 2008,\7\ through April 30, 2009.
---------------------------------------------------------------------------

    \6\ See SR-CBOE-2009-027.
    \7\ The ITP program was approved by the Commission on July 17, 
2008. See Securities Exchange Act Release No. 58178 (July 17, 2008), 
73 FR 42634 (July 22, 2008).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes 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 its 
members and other persons using its facilities. The Exchange believes 
the proposed rebate of member dues is equitable and reasonable in that 
it would help the Exchange place a lessor member who received 
compensation from the Exchange for an open lease under the ITP program 
prior to May 1, 2009, in a similar position as if the lessor's 
membership had been leased, consistent with Exchange Rule 3.27(d).
---------------------------------------------------------------------------

    \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

    CBOE 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 solicited or received with respect to the 
proposed rule change.

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 the self-regulatory organization 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-2009-028 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-2009-028. 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 will also be available for 
inspection and copying at the principal office of the self-regulatory 
organization. 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-2009-028 and should be submitted on or before June 16, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-12090 Filed 5-22-09; 8:45 am]
BILLING CODE 8010-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.