Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1, by NYSE Arca, Inc. Implementing Schedule of Fees and Charges for Exchange Services, 29249-29250 [E9-14351]

Download as PDF Federal Register / Vol. 74, No. 117 / Friday, June 19, 2009 / Notices for the State of West Virginia, dated 05/ 15/2009 is hereby amended to include the following areas as adversely affected by the disaster: Primary Counties: (Physical Damage and Economic Injury Loans): Calhoun. Contiguous Counties: (Economic Injury Loans Only): West Virginia: Braxton, Clay, Gilmer, Ritchie, Roane, Wirt. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) SECURITIES AND EXCHANGE COMMISSION James E. Rivera, Acting Associate Administrator for Disaster Assistance. [FR Doc. E9–14370 Filed 6–18–09; 8:45 am] [Release No. 34–60101; File No. SR– NYSEArca–2009–49] BILLING CODE 8025–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting James E. Rivera, Acting Associate Administrator for Disaster Assistance. [FR Doc. E9–14368 Filed 6–18–09; 8:45 am] FEDERAL REGISTER CITATION OF PREVIOUS ANNOUNCEMENT: [74 FR 28293, June 15, 2009] BILLING CODE 8025–01–P STATUS: SMALL BUSINESS ADMINISTRATION DC. [Disaster Declaration #11752 and #11753] DATE AND TIME OF PREVIOUSLY ANNOUNCED MEETING: Friday, June 19, 2009 at 11 mstockstill on PROD1PC66 with NOTICES SUMMARY: This is an amendment of the Presidential declaration of a major disaster for Public Assistance Only for the State of West Virginia (FEMA–1838– DR), dated 05/15/2009. Incident: Severe Storms, Flooding, Mudslides, and Landslides. Incident Period: 05/03/2009 through 06/08/2009. Effective Date: 06/08/2009. Physical Loan Application Deadline Date: 07/14/2009. Economic Injury (EIDL) Loan Application Deadline Date: 02/15/2010. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing And Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the President’s major disaster declaration for Private Non-Profit organizations in the State of West Virginia, dated 05/15/2009, is hereby amended to establish the incident period for this disaster as beginning 05/ 03/2009 and continuing through 06/08/ 2009. All other information in the original declaration remains unchanged. 16:25 Jun 18, 2009 Jkt 217001 100 F Street, NE., Washington, Additional Item. The following item has been added to the Friday, June 19, 2009 Closed Meeting agenda: Formal Order of Investigation. 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. 552(b)(c)(3), (5), (7) and (10) and 17 CFR 200.402(a)(3), (5), (7) and (10) permit consideration of the scheduled matter at the Closed Meeting. Commissioner Walter, as duty officer, determined that Commission business required the above change and that no earlier notice thereof was possible. 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. CHANGE IN THE MEETING: U.S. Small Business Administration. ACTION: Amendment 3. AGENCY: VerDate Nov<24>2008 PLACE: Closed Meeting. a.m. West Virginia Disaster Number WV– 00013 29249 Dated: June 16, 2009. Elizabeth M. Murphy, Secretary. [FR Doc. E9–14538 Filed 6–17–09; 11:45 am] June 11, 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 Arca, Inc. (‘‘NYSE Arca’’ 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. On June 9, 2009, the Exchange filed Amendment No. 1 to the proposed rule change.4 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the section of its Schedule of Fees and Charges for Exchange Services (the ‘‘Schedule’’). While changes to the Schedule pursuant to this proposal will be effective upon filing, the changes will become operative on June 1, 2009. The text of the proposed rule change is attached as Ex. 5 to the 19b–4 form. 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 1 15 U.S.C.78s(b)(1). U.S.C. 78a. 3 17 CFR 240.19b–4. 4 In Amendment No. 1, the Exchange corrected a typographical error that occurred on the cover sheet that accompanied the Exchange’s submission on Form 19b–4. Specifically, the Exchange conformed its categorization of the statutory provision applicable to the proposed rule change (i.e., Section 19(b)(3)(A) instead of Section 19(b)(2) of the Act) to make the cover sheet consistent with the text of the Form 19b–4. BILLING CODE P PO 00000 Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1, by NYSE Arca, Inc. Implementing Schedule of Fees and Charges for Exchange Services 2 15 Frm 00086 Fmt 4703 Sfmt 4703 E:\FR\FM\19JNN1.SGM 19JNN1 29250 Federal Register / Vol. 74, No. 117 / Friday, June 19, 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. 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 Pilot Program (‘‘Pilot Program’’). NYSE Arca proposes to add ‘‘Jelly Rolls’’ as an eligible strategy execution for inclusion in Pilot Program. A Jelly Roll is a long calendar call spread combined with the same short 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 mstockstill on PROD1PC66 with NOTICES 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 that is executed 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 Arca believes that by keeping fees low, the Exchange is able VerDate Nov<24>2008 16:25 Jun 18, 2009 Jkt 217001 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 Arca. 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 Arca. 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: • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSEArca–2009–49 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–2009–49. 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– NYSEArca–2009–49 and should be submitted on or before July 10, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–14351 Filed 6–18–09; 8:45 am] BILLING CODE 8010–01–P Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or 5 15 6 17 PO 00000 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). Frm 00087 Fmt 4703 7 17 Sfmt 4703 E:\FR\FM\19JNN1.SGM CFR 200.30–3(a)(12). 19JNN1

Agencies

[Federal Register Volume 74, Number 117 (Friday, June 19, 2009)]
[Notices]
[Pages 29249-29250]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-14351]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60101; File No. SR-NYSEArca-2009-49]


Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1, 
by NYSE Arca, Inc. Implementing Schedule of Fees and Charges for 
Exchange Services

June 11, 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 Arca, Inc. (``NYSE Arca'' 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. On June 9, 2009, the Exchange filed Amendment No. 1 to 
the proposed rule change.\4\ The Commission is publishing this notice 
to solicit comments on the proposed rule change, as amended, from 
interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ In Amendment No. 1, the Exchange corrected a typographical 
error that occurred on the cover sheet that accompanied the 
Exchange's submission on Form 19b-4. Specifically, the Exchange 
conformed its categorization of the statutory provision applicable 
to the proposed rule change (i.e., Section 19(b)(3)(A) instead of 
Section 19(b)(2) of the Act) to make the cover sheet consistent with 
the text of the Form 19b-4.
---------------------------------------------------------------------------

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

    The Exchange proposes to amend the section of its Schedule of Fees 
and Charges for Exchange Services (the ``Schedule''). While changes to 
the Schedule pursuant to this proposal will be effective upon filing, 
the changes will become operative on June 1, 2009. The text of the 
proposed rule change is attached as Ex. 5 to the 19b-4 form. 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

[[Page 29250]]

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 Pilot 
Program (``Pilot Program''). NYSE Arca proposes to add ``Jelly Rolls'' 
as an eligible strategy execution for inclusion in Pilot Program.
    A Jelly Roll is a long calendar call spread combined with the same 
short 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 that is executed 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 Arca 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 Arca. 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 Arca.
---------------------------------------------------------------------------

    \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-NYSEArca-2009-49 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-2009-49. 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-
NYSEArca-2009-49 and should be submitted on or before July 10, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

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

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-14351 Filed 6-18-09; 8:45 am]
BILLING CODE 8010-01-P
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