Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Equities Rule 7.31(oo), 40264-40265 [E9-19144]

Download as PDF 40264 Federal Register / Vol. 74, No. 153 / Tuesday, August 11, 2009 / Notices appropriate? For example, should such CCS interest be executed at $20.08 (the last price at which there is non-CCS interest)? Another price? Why or why not? 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–NYSE–2009–71 on the subject line. Paper Comments sroberts on DSKD5P82C1PROD with NOTICES • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.18 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–19145 Filed 8–10–09; 8:45 am] BILLING CODE 8010–01–P 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 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60433; File No. SR– NYSEArca–2009–69] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Equities Rule 7.31(oo) August 5, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’) 1 and Rule 19b–4 thereunder,2 All submissions should refer to File notice is hereby given that, on July 17, Number SR–NYSE–2009–71. This file 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or number should be included on the the ‘‘Exchange’’) filed with the subject line if e-mail is used. To help the Securities and Exchange Commission Commission process and review your (the ‘‘Commission’’) the proposed rule comments more efficiently, please use change as described in Items I and II only one method. The Commission will below, which Items have been prepared post all comments on the Commission’s by the self-regulatory organization. The Commission is publishing this notice to Internet Web site (https://www.sec.gov/ solicit comments on the proposed rule rules/sro.shtml). Copies of the change from interested persons. submission, all subsequent amendments, all written statements I. Self-Regulatory Organization’s with respect to the proposed rule Statement of the Terms of Substance of change that are filed with the the Proposed Rule Change Commission, and all written The Exchange proposes to modify communications relating to the NYSE Arca Equities Rule 7.31(oo) proposed rule change between the governing the Primary Until 9:45 Order. Commission and any person, other than The text of the proposed rule change is those that may be withheld from the attached as Exhibit 5 to the 19b–4 form. public in accordance with the A copy of this filing is available on the provisions of 5 U.S.C. 552, will be Exchange’s Web site at https:// available for inspection and copying in www.nyse.com, at the Exchange’s the Commission’s Public Reference principal office and at the Commission’s Room, 100 F Street, NE., Washington, Public Reference Room. DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. II. Self-Regulatory Organization’s Copies of the filing also will be available Statement of the Purpose of, and Statutory Basis for, the Proposed Rule for inspection and copying at the Change principal office of the Exchange. All In its filing with the Commission, the comments received will be posted self-regulatory organization included without change; the Commission does statements concerning the purpose of, not edit personal identifying and basis for, the proposed rule change information from submissions. You and discussed any comments it received should submit only information that you wish to make available publicly. All on the proposed rule change. The text of those statements may be examined at submissions should refer to File Number SR–NYSE–2009–71 and should the places specified in Item IV below. The Exchange has prepared summaries, be submitted on or before September 1, set forth in sections A, B, and C below, 2009. CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. The Exchange proposes to modify NYSE Arca Equities Rule 7.31(oo) pertaining to the Primary Until 9:45 Order. The Primary Until 9:45 Order permits NYSE Arca Users to submit an order that will be routed directly to the primary listing market until 9:45 am (Eastern Time). If the order is not executed on the primary market by 9:45 am (Eastern Time), the order will be cancelled from the primary market and a new order will be entered on the Arca Book for execution during the remainder of the Exchange’s Core Trading Session. Currently, a Primary Until 9:45 Order may be marked with a Time in Force of Day, Good Till Cancelled (‘‘GTC’’), or Good Till Date (‘‘GTD’’). However, potential confusion arises in that the Primary Until 9:45 Order is not designed to re-route to the primary if not executed on its initial day of entry. The Exchange proposes to eliminate the option to mark a Primary Until 9:45 Order as GTC or GTD. This change eliminates that potential confusion by allowing the Primary Until 9:45 Order to be marked as Day only. The Exchange plans to implement this change on July 20, 2009 in conjunction with the implementation of the Primary Until 9:45 Order. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) 3 of the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’), in general, and furthers the objectives of Section 6(b)(5) 4 in particular in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Exchange believes that the proposed rule changes are designed to accomplish these ends by eliminating order types from its rulebook which it can not currently support. 18 17 1 15 VerDate Nov<24>2008 20:51 Aug 10, 2009 Jkt 217001 PO 00000 Frm 00110 Fmt 4703 Sfmt 4703 3 15 4 15 E:\FR\FM\11AUN1.SGM U.S.C. 78f(b). U.S.C. 78f(b)(5). 11AUN1 Federal Register / Vol. 74, No. 153 / Tuesday, August 11, 2009 / Notices 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. 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. 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. IV. Solicitation of Comments 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 5 and Rule 19b– 4(f)(6) thereunder.6 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.7 However, Rule 19b– 4(f)(6)(iii) 8 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay so that the proposal may be operative in conjunction with the release of the Primary Until 9:45 Order in order to eliminate potential confusion associated with the GTC or GTD designation of a Primary Until 9:45 Order. The Commission believes such waiver is consistent with the protection of investors and the public interest.9 At any time within 60 days of the filing of the proposed rule change, the 5 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 7 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) 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. The Exchange has complied with this requirement. 8 Id. 9 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). sroberts on DSKD5P82C1PROD with NOTICES 6 17 VerDate Nov<24>2008 20:51 Aug 10, 2009 Jkt 217001 40265 submitted on or before September 1, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–19144 Filed 8–10–09; 8:45 am] 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: BILLING CODE 8010–01–P Electronic Comments Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing of Proposed Rule Change, and Amendment No. 1 Thereto, Relating to the Exchange’s By-Laws, Regulatory Oversight Committee and Referee Program • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSEArca–2009–69 on the subject line. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60431; File No. SR–Phlx– 2009–59] August 4, 2009. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’ • Send paper comments in triplicate or ‘‘Exchange Act’’) 1 and Rule 19b–4 to Elizabeth M. Murphy, Secretary, thereunder,2 notice is hereby given that, Securities and Exchange Commission, on July 27, 2009, NASDAQ OMX PHLX, 100 F Street, NE., Washington, DC Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with 20549–1090. the Securities and Exchange All submissions should refer to File Commission (‘‘Commission’’) the Number SR–NYSEArca–2009–69. This proposed rule change as described in file number should be included on the Items I, II, and III below, which Items subject line if e-mail is used. To help the have been prepared by the Exchange. Commission process and review your On July 30, 2009, the Exchange filed comments more efficiently, please use Amendment No. 1 to the proposed rule only one method. The Commission will change.3 The Commission is publishing post all comments on the Commission’s this notice to solicit comments on the Internet Web site (https://www.sec.gov/ proposed rule change, as amended, from rules/sro.shtml). Copies of the interested persons. submission, all subsequent I. Self-Regulatory Organization’s amendments, all written statements Statement of the Terms of Substance of with respect to the proposed rule the Proposed Rule Change change that are filed with the The Exchange proposes to amend its Commission, and all written By-Laws to establish a regulatory communications relating to the oversight committee of the Board of proposed rule change between the Commission and any person, other than Governors (the ‘‘Board’’); describe the office and responsibilities of the chief those that may be withheld from the regulatory officer in the By-Laws; public in accordance with the eliminate the audit committee and provisions of 5 U.S.C. 552, will be compensation committee of the Board, available for inspection and copying in with their duties being assigned to other the Commission’s Public Reference Room on official business days between board committees of Phlx or its parent corporation, The NASDAQ OMX Group, the hours of 10 a.m. and 3 p.m. Copies Inc. (‘‘NASDAQ OMX’’); amend the of such filing also will be available for Exchange’s By-Laws to delete the inspection and copying at the principal Referee process and establish a new office of the Exchange. All comments received will be posted without change; Options Trade Review Committee in the Commission does not edit personal 10 17 CFR 200.30–3(a)(12). identifying information from 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 By Amendment No. 1, the Exchange updated its available publicly. All submissions proposal to reflect that The NASDAQ Stock Market should refer to File Number SR– LLC and NASDAQ OMX BX, Inc. have already eliminated their audit committees. NYSEArca–2009–69 and should be Paper Comments PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 E:\FR\FM\11AUN1.SGM 11AUN1

Agencies

[Federal Register Volume 74, Number 153 (Tuesday, August 11, 2009)]
[Notices]
[Pages 40264-40265]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-19144]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60433; File No. SR-NYSEArca-2009-69]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca 
Equities Rule 7.31(oo)

August 5, 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 17, 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 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.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to modify NYSE Arca Equities Rule 7.31(oo) 
governing the Primary Until 9:45 Order. 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 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 Exchange proposes to modify NYSE Arca Equities Rule 7.31(oo) 
pertaining to the Primary Until 9:45 Order.
    The Primary Until 9:45 Order permits NYSE Arca Users to submit an 
order that will be routed directly to the primary listing market until 
9:45 am (Eastern Time). If the order is not executed on the primary 
market by 9:45 am (Eastern Time), the order will be cancelled from the 
primary market and a new order will be entered on the Arca Book for 
execution during the remainder of the Exchange's Core Trading Session.
    Currently, a Primary Until 9:45 Order may be marked with a Time in 
Force of Day, Good Till Cancelled (``GTC''), or Good Till Date 
(``GTD''). However, potential confusion arises in that the Primary 
Until 9:45 Order is not designed to re-route to the primary if not 
executed on its initial day of entry. The Exchange proposes to 
eliminate the option to mark a Primary Until 9:45 Order as GTC or GTD. 
This change eliminates that potential confusion by allowing the Primary 
Until 9:45 Order to be marked as Day only.
    The Exchange plans to implement this change on July 20, 2009 in 
conjunction with the implementation of the Primary Until 9:45 Order.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) \3\ of the 
Securities Exchange Act of 1934 (the ``Exchange Act''), in general, and 
furthers the objectives of Section 6(b)(5) \4\ in particular in that it 
is designed to prevent fraudulent and manipulative acts and practices, 
to promote just and equitable principles of trade, to remove 
impediments to and perfect the mechanism of a free and open market and 
a national market system, and, in general, to protect investors and the 
public interest. The Exchange believes that the proposed rule changes 
are designed to accomplish these ends by eliminating order types from 
its rulebook which it can not currently support.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(5).

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[[Page 40265]]

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: (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 \5\ and Rule 19b-4(f)(6) thereunder.\6\
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    \5\ 15 U.S.C. 78s(b)(3)(A).
    \6\ 17 CFR 240.19b-4(f)(6).
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    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.\7\ 
However, Rule 19b-4(f)(6)(iii) \8\ permits the Commission to designate 
a shorter time if such action is consistent with the protection of 
investors and the public interest. The Exchange has requested that the 
Commission waive the 30-day operative delay so that the proposal may be 
operative in conjunction with the release of the Primary Until 9:45 
Order in order to eliminate potential confusion associated with the GTC 
or GTD designation of a Primary Until 9:45 Order. The Commission 
believes such waiver is consistent with the protection of investors and 
the public interest.\9\
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    \7\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
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. 
The Exchange has complied with this requirement.
    \8\ Id.
    \9\ 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).
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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-NYSEArca-2009-69 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-2009-69. 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 on official 
business days between the hours of 10 a.m. and 3 p.m. Copies of such 
filing also will be available for inspection and copying at the 
principal office of the Exchange. All comments received will be posted 
without change; the Commission does not edit personal identifying 
information from submissions. You should submit only information that 
you wish to make available publicly. All submissions should refer to 
File Number SR-NYSEArca-2009-69 and should be submitted on or before 
September 1, 2009.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-19144 Filed 8-10-09; 8:45 am]
BILLING CODE 8010-01-P
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