Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Amex LLC to Extend the Short Term Option Series Pilot Program, 34834-34836 [E9-17012]
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34834
Federal Register / Vol. 74, No. 136 / Friday, July 17, 2009 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change: (i) Does not significantly affect
the protection of investors or the public
interest; (ii) does not impose any
significant burden on competition; and
(iii) by its terms, does not become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, if
consistent with the protection of
investors and the public interest, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 9 and Rule 19b–
4(f)(6) thereunder.10
A proposed rule change filed under
Rule 19b–4(f)(6) 11 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(f)(6)(iii),12 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay so that
the proposal may become operative
immediately upon filing.
The Exchange has requested that the
Commission waive the 30-day operative
delay in order to permit the Exchange to
immediately implement modifications
to its systems to require certain DMM
interest to yield to other interest on the
Display Book during slow trading
conditions, as discussed in full above,
which should increase the quality of
executions on the Exchange, including
public customer orders. The
Commission believes such waiver is
consistent with the protection of
investors and the public interest.13
Accordingly, the Commission
designates the proposed rule change
operative upon filing with the
Commission.
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
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires the self-regulatory organization
to submit to the Commission written notice of its
intent to file the proposed rule change, along with
a brief description and text of the proposed rule
change, at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission. The
Exchange has satisfied this requirement.
11 17 CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
13 For purposes only of waiving the 30-day
operative delay of this proposal, the Commission
has considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
mstockstill on DSKH9S0YB1PROD with NOTICES
10 17
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19:20 Jul 16, 2009
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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–2009–40 on
the subject line.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–17014 Filed 7–16–09; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60286; File No. SR–
NYSEAmex–2009–43]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Amex LLC to Extend the Short Term
Option Series Pilot Program
July 10, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 9,
• Send paper comments in triplicate
2009, NYSE Amex LLC (‘‘NYSE Amex’’
to Elizabeth M. Murphy, Secretary,
or the ‘‘Exchange’’) filed with the
Securities and Exchange Commission,
Securities and Exchange Commission
100 F Street, NE., Washington, DC
the proposed rule change as described
20549–1090.
in Items I and II below, which items
All submissions should refer to File
have been prepared by the selfNumber SR–NYSEAmex–2009–40. This regulatory organization. The
file number should be included on the
Commission is publishing this notice to
subject line if e-mail is used. To help the solicit comments on the proposed rule
Commission process and review your
change from interested persons.
comments more efficiently, please use
only one method. The Commission will I. Self-Regulatory Organization’s
post all comments on the Commission’s Statement of the Terms of Substance of
the Proposed Rule Change
Internet Web site (https://www.sec.gov/
The Exchange proposes to extend the
rules/sro.shtml). Copies of the
Short Term Option Series Pilot Program
submission, all subsequent
(‘‘Pilot Program’’) for an additional oneamendments, all written statements
year period. The text of the proposed
with respect to the proposed rule
rule change is attached as Exhibit 5 to
change that are filed with the
the 19b–4 form. A copy of this filing is
Commission, and all written
available on the Exchange’s Web site at
communications relating to the
https://www.nyse.com, at the Exchange’s
proposed rule change between the
Commission and any person, other than principal office and at the Commission’s
Public Reference Room.
those that may be withheld from the
public in accordance with the
II. Self-Regulatory Organization’s
provisions of 5 U.S.C. 552, will be
Statement of the Purpose of, and
available for inspection and copying in
Statutory Basis for, the Proposed Rule
the Commission’s Public Reference
Change
Room on official business days between
In its filing with the Commission, the
the hours of 10 a.m. and 3 p.m. Copies
self-regulatory organization included
of such filing also will be available for
statements concerning the purpose of,
inspection and copying at the principal
and basis for, the proposed rule change
office of the Exchange. All comments
and discussed any comments it received
received will be posted without change;
on the proposed rule change. The text
the Commission does not edit personal
of these statements may be examined at
identifying information from
the places specified in Item IV below.
submissions. You should submit only
The self-regulatory organization has
information that you wish to make
prepared summaries, set forth in
available publicly. All submissions
should refer to File Number SR–
14 17 CFR 200.30–3(a)(12).
NYSEAmex–2009–40 and should be
1 15 U.S.C. 78s(b)(1).
submitted on or before August 7, 2009.
2 17 CFR 240.19b–4.
Paper Comments
PO 00000
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17JYN1
Federal Register / Vol. 74, No. 136 / Friday, July 17, 2009 / Notices
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
mstockstill on DSKH9S0YB1PROD with NOTICES
1. Purpose
On July 12, 2005 the Commission
approved the Pilot Program 3 that allows
NYSE Amex to list and trade Short
Term Options Series. Under the terms of
the Pilot Program, the Exchange can
select up to five options classes on
which Short Term Option Series may be
opened on any Short Term Option
Opening Date. The Exchange is also
allowed to list Short Term Option Series
on any option class that is selected by
other securities exchanges that employ
a similar Pilot Program under their
respective rules.
The purpose of this proposal is to
extend the Pilot Program for a one year
period ending on July 12, 2010. The
current Pilot Program expires on July
12, 2009.4 The Exchange believes that
Short Term Option Series can provide
investors with a flexible and valuable
tool to manage risk exposure, minimize
capital outlays, and be more responsive
to the timing of events affecting the
securities that underlie option contracts.
While NYSE Amex has not listed any
Short Term Option Series during the
Pilot Program there has been continued
investor interest in trading short-term
options at the Chicago Board Options
Exchange (‘‘CBOE’’). In order to have
the ability respond to customer interests
if warranted, the Exchange proposes the
continuation of the Pilot Program at
NYSE Amex.
In the original proposal to establish
the Pilot Program the Exchange stated
that if it were to propose an extension
or an expansion of the program, the
Exchange would submit, along with any
filing proposing such amendments to
the program, a Pilot Program report
(‘‘Report’’). The Report would provide
an analysis of the Pilot Program
covering the entire period during which
the Pilot Program was in effect. Since
the Exchange does not have any Short
Term Options Series listed as part of the
Pilot Program, there is no data available
to compile such a report at this time.
Therefore there is no Report associated
with the program included with this
proposal to extend the pilot Program.
3 See Securities Exchange Act Release No.34–
52014 (July 12, 2005), 70 FR 41244 (July 18, 2005)
(approval order for SR–Amex-2005–035).
4 See Securities Exchange Act Release No. 34–
58084 (July 2, 2008), 73 FR 39743 (July 10, 2008),
SR–Amex-2008–55 (Pilot Program extension).
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The Exchange represents that it has
the necessary system capacity needed to
support any additional option series
listed under the Pilot Program.
2. Statutory Basis
The Exchange believes that Short
Term Option Series can stimulate
customer interest in options and
provide a flexible and valuable tool to
manage risk exposure, minimize capital
outlays, and be more responsive to the
timing of events affecting the securities
that underlie option contracts. For these
reasons, the Exchange believes the
proposed rule change is consistent with
the Act and the rules and regulations
thereunder and, in particular, the
requirements of section 6(b) of the Act.
Specifically, the Exchange believes the
proposed rule change is consistent with
the section 6(b)(5) 5 requirements that
the rules of an exchange be designed to
promote just and equitable principles of
trade, to prevent fraudulent and
manipulative acts, to remove
impediments to and perfect the
mechanism for 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
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
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days after the date of
the filing, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, it has
become effective pursuant to 19(b)(3)(A)
of the Act 6 and Rule 19b–4(f)(6)
thereunder.7
U.S.C. 78(f)(b)(5).
U.S.C. 78s(b)(3)(A).
7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
PO 00000
5 15
6 15
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34835
The Exchange has asked the
Commission to waive the operative
delay to permit the proposed rule
change to become operative prior to the
30th day after filing. The Commission
has determined that waiving the 30-day
operative delay of the Exchange’s
proposal is consistent with the
protection of investors and the public
interest and will promote competition
because such waiver will allow the
Exchange to continue the existing Pilot
Program without interruption.8
Therefore, the Commission designates
the proposal operative upon filing.
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–2009–43 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–2009–43. 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
the proposed rule change at least five business days
prior to the date of filing of the proposed rule
change, or such shorter time as designated by the
Commission. ISE has satisfied this requirement.
8 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
E:\FR\FM\17JYN1.SGM
17JYN1
34836
Federal Register / Vol. 74, No. 136 / Friday, July 17, 2009 / Notices
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–NYSEAmex–2009–43 and
should be submitted on or before
August 7, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–17012 Filed 7–16–09; 8:45 am]
BILLING CODE 8010–01–P
[Release No. 34–60284; File No. SR–CHX–
2009–05]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change to Article 20,
Rule 1 Relating to the Declaration of
Trading Halts on the Exchange
mstockstill on DSKH9S0YB1PROD with NOTICES
July 10, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1, and Rule 19b–4 2 thereunder,
notice is hereby given that on July 7,
2009, the Chicago Stock Exchange, Inc.
(‘‘CHX’’ 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 CHX. CHX has
filed this proposal pursuant to Exchange
Act Rule 19b–4 (f)(6) 3 and requests that
the Commission waive the 30-day preoperative waiting period contained in
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 17 CFR 240.19b–4(f)(6).
1 15
VerDate Nov<24>2008
19:20 Jul 16, 2009
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CHX proposes to amend Article 20,
Rule 1 relating to the declaration of
Trading Halts on the Exchange. The text
of this proposed rule change is available
on the Exchange’s Web site at (https://
www.chx.com) and in 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
CHX included statements concerning
the purpose of and basis for the
proposed rule changes and discussed
any comments it received regarding the
proposal. The text of these statements
may be examined at the places specified
in Item IV below. The CHX 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
SECURITIES AND EXCHANGE
COMMISSION
9 17
Exchange Act Rule 19b–4(f)(6)(iii).4 If
such waiver is granted by the
Commission, this rule proposal, which
is effective upon filing with the
Commission, shall become immediately
operative.
1. Purpose
The Exchange is proposing to modify
its rules relating to the declaration of
Trading Halts on the Exchange.
Currently, Article 20, Rule 1 requires
two Senior Officers of the Exchange to
agree to suspend or restart trading.
‘‘Senior Officers’’ has traditionally been
defined by the Exchange as a person
with the title of Senior Vice President or
above. To ensure that it has proper
coverage at all times, the Exchange
proposes to increase the pool of persons
with authority to declare or lift a trading
halt to all officers of the Exchange
designated by the CEO to have such
authority. This action would provide
sufficient flexibility to ensure that the
Exchange always has adequate
personnel available to suspend or
reinstate trading on the Exchange when
necessary. The requirement that the
CEO designate the officers with such
authority provides assurance that those
officers have sufficient experience,
judgment and knowledge to make those
decisions.
4 17
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PO 00000
CFR 240.19b–4(f)(6)(iii).
Frm 00127
Fmt 4703
Sfmt 4703
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act in general,5 and
furthers the objectives of Section 6(b)(5)
in particular,6 in that it is designed to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transaction in securities, to
remove impediments and perfect the
mechanisms of a free and open market,
and, in general, to protect investors and
the public interest by allowing CHX to
amend Article 20, Rule 1 relating to the
declaration of Trading Halts on the
Exchange to ensure that the Exchange
always has adequate personnel available
to suspend or reinstate trading on the
Exchange when necessary.
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 either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (1) Significantly affect
the protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate if
consistent with the protection of
investors and the public interest, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 7 and Rule 19b–
4(f)(6) thereunder.8
A proposed rule change filed under
Rule 19b–4(f)(6) normally may not
become operative prior to 30 days after
the date of filing.9 However, Rule 19b–
5 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
7 15 U.S.C. 78s(b)(3)(A).
8 17 CFR 240.19b–4(f)(6). When filing a proposed
rule change pursuant to Rule 19b–4(f)(6) under the
Act, an Exchange is required to give the
Commission written notice of its intent to file the
proposed rule change, along with a brief description
and text of the proposed rule change, at least five
business days prior to the date of filing of the
proposed rule change, or such shorter time as
designated by the Commission. The Exchange met
this requirement.
9 17 CFR 240.19b–4(f)(6)(iii).
6 15
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]]>Agencies
[Federal Register Volume 74, Number 136 (Friday, July 17, 2009)]
[Notices]
[Pages 34834-34836]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-17012]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-60286; File No. SR-NYSEAmex-2009-43]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by NYSE Amex LLC to Extend the
Short Term Option Series Pilot Program
July 10, 2009.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on July 9, 2009, NYSE Amex LLC (``NYSE Amex'' or the ``Exchange'')
filed with the Securities and Exchange Commission the proposed rule
change as described in Items I and II 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\ 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 extend the Short Term Option Series Pilot
Program (``Pilot Program'') for an additional one-year period. The text
of the proposed rule change is attached as Exhibit 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 on the
proposed rule change. The text of these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
has prepared summaries, set forth in
[[Page 34835]]
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
On July 12, 2005 the Commission approved the Pilot Program \3\ that
allows NYSE Amex to list and trade Short Term Options Series. Under the
terms of the Pilot Program, the Exchange can select up to five options
classes on which Short Term Option Series may be opened on any Short
Term Option Opening Date. The Exchange is also allowed to list Short
Term Option Series on any option class that is selected by other
securities exchanges that employ a similar Pilot Program under their
respective rules.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No.34-52014 (July 12,
2005), 70 FR 41244 (July 18, 2005) (approval order for SR-Amex-2005-
035).
---------------------------------------------------------------------------
The purpose of this proposal is to extend the Pilot Program for a
one year period ending on July 12, 2010. The current Pilot Program
expires on July 12, 2009.\4\ The Exchange believes that Short Term
Option Series can provide investors with a flexible and valuable tool
to manage risk exposure, minimize capital outlays, and be more
responsive to the timing of events affecting the securities that
underlie option contracts. While NYSE Amex has not listed any Short
Term Option Series during the Pilot Program there has been continued
investor interest in trading short-term options at the Chicago Board
Options Exchange (``CBOE''). In order to have the ability respond to
customer interests if warranted, the Exchange proposes the continuation
of the Pilot Program at NYSE Amex.
---------------------------------------------------------------------------
\4\ See Securities Exchange Act Release No. 34-58084 (July 2,
2008), 73 FR 39743 (July 10, 2008), SR-Amex-2008-55 (Pilot Program
extension).
---------------------------------------------------------------------------
In the original proposal to establish the Pilot Program the
Exchange stated that if it were to propose an extension or an expansion
of the program, the Exchange would submit, along with any filing
proposing such amendments to the program, a Pilot Program report
(``Report''). The Report would provide an analysis of the Pilot Program
covering the entire period during which the Pilot Program was in
effect. Since the Exchange does not have any Short Term Options Series
listed as part of the Pilot Program, there is no data available to
compile such a report at this time. Therefore there is no Report
associated with the program included with this proposal to extend the
pilot Program.
The Exchange represents that it has the necessary system capacity
needed to support any additional option series listed under the Pilot
Program.
2. Statutory Basis
The Exchange believes that Short Term Option Series can stimulate
customer interest in options and provide a flexible and valuable tool
to manage risk exposure, minimize capital outlays, and be more
responsive to the timing of events affecting the securities that
underlie option contracts. For these reasons, the Exchange believes the
proposed rule change is consistent with the Act and the rules and
regulations thereunder and, in particular, the requirements of section
6(b) of the Act. Specifically, the Exchange believes the proposed rule
change is consistent with the section 6(b)(5) \5\ requirements that the
rules of an exchange be designed to promote just and equitable
principles of trade, to prevent fraudulent and manipulative acts, to
remove impediments to and perfect the mechanism for a free and open
market and a national market system, and, in general, to protect
investors and the public interest.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78(f)(b)(5).
---------------------------------------------------------------------------
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
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days after the date of the filing, or such
shorter time as the Commission may designate, if consistent with the
protection of investors and the public interest, it has become
effective pursuant to 19(b)(3)(A) of the Act \6\ and Rule 19b-4(f)(6)
thereunder.\7\
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
ISE has satisfied this requirement.
---------------------------------------------------------------------------
The Exchange has asked the Commission to waive the operative delay
to permit the proposed rule change to become operative prior to the
30th day after filing. The Commission has determined that waiving the
30-day operative delay of the Exchange's proposal is consistent with
the protection of investors and the public interest and will promote
competition because such waiver will allow the Exchange to continue the
existing Pilot Program without interruption.\8\ Therefore, the
Commission designates the proposal operative upon filing.
---------------------------------------------------------------------------
\8\ For purposes only of waiving the 30-day operative delay, the
Commission has considered the proposed rule's impact on efficiency,
competition, and capital formation. See 15 U.S.C. 78c(f).
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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-2009-43 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-2009-43. 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
[[Page 34836]]
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-NYSEAmex-2009-43 and should be submitted
on or before August 7, 2009.
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\9\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-17012 Filed 7-16-09; 8:45 am]
BILLING CODE 8010-01-P
