Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Rule Change by NYSE Amex, Inc. Implementing Schedule of Fees and Charges for Exchange Services, 28737-28738 [E9-14145]

Download as PDF Federal Register / Vol. 74, No. 115 / Wednesday, June 17, 2009 / Notices each of the four previous calendar quarters. Applicants’ Conditions Applicants agree that any amended order of the Commission granting the requested relief will be subject to the same conditions as those imposed by the Prior Order, except for condition 7 to the Prior Order, which will be deleted, and conditions 2 and 5, which are revised as follows: 3 Condition 2. Each Fund’s Prospectus will clearly disclose that, for the purposes of the Act, Shares are issued by the Funds and that the acquisition of Shares by investment companies is subject to the restrictions of section 12(d)(1) of the Act, except as permitted by an exemptive order that permits registered investment companies to invest in a Fund beyond the limits of section 12(d)(1), subject to certain terms and conditions, including that a registered investment company enter into an agreement with the Fund regarding the terms of the investment. Condition 5. The Web site maintained for the Corporation, which is and will be publicly accessible at no charge, will contain the following information, on a per Share basis, for each Fund: (a) The prior Business Day’s NAV and the Bid/ Ask Price and a calculation of the premium or discount of the Bid/Ask Price at the time of calculation of the NAV against such NAV; and (b) data in chart format displaying the frequency distribution of discounts and premiums of the daily Bid/Ask Price against the NAV, within appropriate ranges, for dwashington3 on PROD1PC60 with NOTICES 7. Applicants also seek to amend the Prior Order to delete the relief granted from section 24(d) of the Act. Applicants state that the deletion of the exemption from section 24(d) that was granted in the Prior Order is warranted because the adoption of the Summary Prospectus Rule should supplant any need by a Fund to use a product description (‘‘Product Description’’). The deletion of the relief granted with respect to section 24(d) of the Act from the Prior Order will also result in the deletion of related discussions in the Prior Applications, revision of the Prior Applications to delete references to Product Descriptions including in the conditions, and the deletion of condition 7 of the Prior Order. June 15, 2009. 3 All representations and conditions contained in the application and the Prior Applications that require a Fund to disclose particular information in the Fund’s Prospectus and/or annual report shall remain effective with respect to the Fund until the time that the Fund complies with the disclosure requirements adopted by the Commission in Investment Company Act Release No. 28584 (Jan. 13, 2009). Defined terms used in the following conditions that are not otherwise defined in this notice or the application have the same meanings as in the Prior Applications. VerDate Nov<24>2008 15:33 Jun 16, 2009 Jkt 217001 For the Commission, by the Division of Investment Management, pursuant to delegated authority. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–14192 Filed 6–16–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1 ] Hunt Gold Corporation, F/K/A Prime Time Group, Inc.; Order of Suspension of Trading It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Hunt Gold Corporation, f/k/a Prime Time Group, Inc. (‘‘Hunt Gold’’) because questions have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, Hunt Gold’s gold mining exploration business. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of Hunt Gold. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in Hunt Gold securities is suspended for the period from 9:30 a.m. EDT on June 15, 2009, through 11:59 p.m. EDT on June 26, 2009. By the Commission. Jill M. Peterson, Assistant Secretary. [FR Doc. E9–14300 Filed 6–15–09; 4:15 pm] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60077; File No. SR– NYSEAmex–2009–22] Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Rule Change by NYSE Amex, Inc. Implementing Schedule of Fees and Charges for Exchange Services June 9, 2009. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 1 15 U.S.C.78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 2 15 PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 28737 notice is hereby given that, on June 1, 2009, NYSE Amex LLC. (‘‘NYSE Amex’’ 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 the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to its Schedule of Fees and Charges for Exchange Services (the ‘‘Schedule’’). While the change to the Schedule pursuant to this proposal will be effective upon filing, the changes will become operative June 1, 2009. The text of the proposed rule change is attached as Exhibit 5 to the 19b–4 form.4 A copy of this filing is available on the Exchange’s Web site at www.nyse.com, at the Exchange’s principal office and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of those statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in sections A, B, and C below, of the most significant parts of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this proposed rule change is to modify the list of strategies presently included in the strategy execution fee cap program (‘‘Strategy Cap Program’’). NYSE Amex proposes to add ‘‘Jelly Rolls’’ as an eligible strategy execution for inclusion in Strategy Cap Program. A Jelly Roll is a long calendar call spread combined with the same short 4 The Commission notes that while provided in Exhibit 5 to the filing, the text of the proposed rule change is not attached to this notice but is available at the Commission’s Public Reference Room and at www.nyse.com. E:\FR\FM\17JNN1.SGM 17JNN1 28738 Federal Register / Vol. 74, No. 115 / Wednesday, June 17, 2009 / Notices calendar put spread, or vice versa. This option strategy aims to profit from a time value spread through the purchase and sale of two call and two put options, each with different expiration dates. A Jelly Roll is created by entering into two separate positions simultaneously. One position involves buying a put and selling a call with the same strike price and expiration. The second position involves selling a put and buying a call, with the same strike price, but a different expiration from the first position. Below is an example of a Jelly Roll strategy execution. XYZ Jun/Oct 25 Jelly Roll: —Buy XYZ Jun 25 put and sell XYZ Jun 25 call —Sell XYZ Oct 25 put and buy XYZ Oct 25 call Market BBO: Jun 25 call .51 at .53 Jun 25 put .72 at .74 Oct 25 call 1.52 at 1.55 Oct 25 put 2.35 at 2.39 .74(long Jun put) + 1.52 (long Oct call) ¥.51 (short Jun call) ¥2.35 (short Oct put) = .60 credit received for the Jelly roll. Because the referenced Jelly Rolls are commonly executed in large volumes with profit margins that are generally narrow, the Exchange proposes to cap the transaction fees associated with such executions at $750 per strategy execution on the same trading day in the same option class. In addition, Jelly Rolls will be included in the monthly cap of $25,000 per initiating firm for all strategy executions. NYSE Amex believes that by keeping fees low, the Exchange is able to attract liquidity by accommodating these transactions. 2. Statutory Basis dwashington3 on PROD1PC60 with NOTICES The Exchange believes that the proposal is consistent with Section 6(b) of the Act, in general, and Section 6(b)(4), in particular, in that it provides for the equitable allocation of dues, fees and other charges among its members and other market participants that use the trading facilities of NYSE Amex Options. Under this proposal, all similarly situated Exchange participants will be charged the same reasonable dues, fees and other charges. 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 15:33 Jun 16, 2009 Jkt 217001 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change is effective upon filing pursuant to Section 19(b)(3)(A) 5 of the Act and subparagraph (f)(2) of Rule 19b–4 6 thereunder, because it establishes a due, fee, or other charge imposed by NYSE Amex. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSEAmex–2009–22 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–NYSEAmex–2009–22. 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– NYSEAmex-2009–22 and should be submitted on or before July 8, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–14145 Filed 6–16–09; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60063; File No. SR–OCC– 2009–10] Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to the Cross-Margining Agreement Between OCC and CME June 8, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934,1 notice is hereby given that on May 22, 2009, The Options Clearing Corporation (‘‘OCC’’) filed with the Securities and Exchange Commission the proposed rule change as described in Items I, II, and III below, which Items have been prepared primarily by OCC. OCC filed the proposed rule change pursuant to Section 19(b)(3)(A)(i) of the Act 2 and Rule 19b–4(f)(1) thereunder 3 so that the proposal was effective upon filing with the Commission. The Commission is publishing this notice to solicit 7 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 15 U.S.C. 78s(b)(3)(A)(i). 3 17 CFR 240.19b–4(f)(1). 1 15 5 15 6 17 PO 00000 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). Frm 00076 Fmt 4703 Sfmt 4703 E:\FR\FM\17JNN1.SGM 17JNN1

Agencies

[Federal Register Volume 74, Number 115 (Wednesday, June 17, 2009)]
[Notices]
[Pages 28737-28738]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-14145]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60077; File No. SR-NYSEAmex-2009-22]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Rule Change by NYSE Amex, Inc. Implementing Schedule 
of Fees and Charges for Exchange Services

June 9, 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 June 1, 2009, NYSE Amex LLC. (``NYSE Amex'' 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 the self-regulatory 
organization. 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

    The Exchange proposes to its Schedule of Fees and Charges for 
Exchange Services (the ``Schedule''). While the change to the Schedule 
pursuant to this proposal will be effective upon filing, the changes 
will become operative June 1, 2009. The text of the proposed rule 
change is attached as Exhibit 5 to the 19b-4 form.\4\ A copy of this 
filing is available on the Exchange's Web site at www.nyse.com, at the 
Exchange's principal office and at the Commission's Public Reference 
Room.
---------------------------------------------------------------------------

    \4\ The Commission notes that while provided in Exhibit 5 to the 
filing, the text of the proposed rule change is not attached to this 
notice but is available at the Commission's Public Reference Room 
and at www.nyse.com.
---------------------------------------------------------------------------

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the self-regulatory organization 
included statements concerning the purpose of, and basis for, the 
proposed rule change and discussed any comments it received on the 
proposed rule change. The text of those statements may be examined at 
the places specified in Item IV below. The Exchange has prepared 
summaries, set forth in sections A, B, and C below, of the most 
significant parts of such statements.

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

1. Purpose
    The purpose of this proposed rule change is to modify the list of 
strategies presently included in the strategy execution fee cap program 
(``Strategy Cap Program''). NYSE Amex proposes to add ``Jelly Rolls'' 
as an eligible strategy execution for inclusion in Strategy Cap 
Program.
    A Jelly Roll is a long calendar call spread combined with the same 
short

[[Page 28738]]

calendar put spread, or vice versa. This option strategy aims to profit 
from a time value spread through the purchase and sale of two call and 
two put options, each with different expiration dates. A Jelly Roll is 
created by entering into two separate positions simultaneously. One 
position involves buying a put and selling a call with the same strike 
price and expiration. The second position involves selling a put and 
buying a call, with the same strike price, but a different expiration 
from the first position. Below is an example of a Jelly Roll strategy 
execution.

XYZ Jun/Oct 25 Jelly Roll:
    --Buy XYZ Jun 25 put and sell XYZ Jun 25 call
    --Sell XYZ Oct 25 put and buy XYZ Oct 25 call
Market BBO:
    Jun 25 call .51 at .53
    Jun 25 put .72 at .74
    Oct 25 call 1.52 at 1.55
    Oct 25 put 2.35 at 2.39

    .74(long Jun put) + 1.52 (long Oct call) -.51 (short Jun call) -
2.35 (short Oct put) = .60 credit received for the Jelly roll.
    Because the referenced Jelly Rolls are commonly executed in large 
volumes with profit margins that are generally narrow, the Exchange 
proposes to cap the transaction fees associated with such executions at 
$750 per strategy execution on the same trading day in the same option 
class. In addition, Jelly Rolls will be included in the monthly cap of 
$25,000 per initiating firm for all strategy executions. NYSE Amex 
believes that by keeping fees low, the Exchange is able to attract 
liquidity by accommodating these transactions.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section 
6(b) of the Act, in general, and Section 6(b)(4), in particular, in 
that it provides for the equitable allocation of dues, fees and other 
charges among its members and other market participants that use the 
trading facilities of NYSE Amex Options. Under this proposal, all 
similarly situated Exchange participants will be charged the same 
reasonable dues, fees and other charges.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act.

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

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The foregoing rule change is effective upon filing pursuant to 
Section 19(b)(3)(A) \5\ of the Act and subparagraph (f)(2) of Rule 19b-
4 \6\ thereunder, because it establishes a due, fee, or other charge 
imposed by NYSE Amex.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission may summarily abrogate such rule change if it 
appears to the Commission that such action is necessary or appropriate 
in the public interest, for the protection of investors, or otherwise 
in furtherance of the purposes of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NYSEAmex-2009-22 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-NYSEAmex-2009-22. 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-
NYSEAmex-2009-22 and should be submitted on or before July 8, 2009.
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-14145 Filed 6-16-09; 8:45 am]
BILLING CODE 8010-01-P
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