Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify Processing of Orders on the NASDAQ Options Market, 43210-43212 [E9-20530]
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43210
Federal Register / Vol. 74, No. 164 / Wednesday, August 26, 2009 / Notices
crossing quotations will enhance the
usefulness of quotation information in
the over-the-counter market, facilitate
more fair and orderly markets and
support market efficiency.
Where wide disparities in access fees
are permitted, the prices of quotations
are less useful and accurate. Therefore,
FINRA believes that a cap on access fees
would improve the usefulness and
accuracy of quotations and address the
potential distortions caused by
substantial, disparate fees. Finally,
FINRA believes that applying limit
order display requirements to OTC
Equity Securities would improve
transparency in the OTC equity market
and advance the goal of the public
availability of quotation information, as
well as fair competition, market
efficiency, best execution and
disintermediation.
FINRA believes that the proposed
extension of the specified Regulation
NMS protections to quoting and trading
in OTC Equity Securities will prevent
fraudulent and manipulative acts and
practices in this market, promote just
and equitable principles of trade, and
protect investors and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
FINRA does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
jlentini on DSKJ8SOYB1PROD with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve such proposed
rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
VerDate Nov<24>2008
17:05 Aug 25, 2009
Jkt 217001
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–FINRA–2009–054 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–FINRA–2009–054. 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 such filing also will be
available for inspection and copying at
the principal office of FINRA. 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 publicly available. All
submissions should refer to File
Number SR–FINRA–2009–054 and
should be submitted on or before
September 16, 2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9–20532 Filed 8–25–09; 8:45 am]
BILLING CODE 8010–01–P
18 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00117
Fmt 4703
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–60521; File No. SR–
NASDAQ–2009–076]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change To Modify
Processing of Orders on the NASDAQ
Options Market
August 18, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
13, 2009, The NASDAQ Stock Market
LLC (‘‘Nasdaq’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
substantially prepared by Nasdaq.
Nasdaq has designated the proposed
rule change as effecting a change
described under Rule 19b–4(f)(6) under
the Act,3 which renders the proposal
effective upon filing with the
Commission. 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 the Substance
of the Proposed Rule Change
The text of the proposed rule change
is below. Proposed new language is in
italics; proposed deletions are in
[brackets].4
*
*
*
*
*
Chapter VI Trading Systems
Sec. 1 Definitions
The following definitions apply to
Chapter VI for the trading of options
listed on NOM.
(a)–(d) No change.
(e) The term ‘‘Order Type’’ shall mean
the unique processing prescribed for
designated orders that are eligible for
entry into the System, and shall include:
(1)–(7) No Change.
[(8) ‘‘Additional Exposure Orders’’ are
orders that are priced at the National
Best Offer, for buys, and the National
Best Bid, for sells. The order is exposed
on the System Book Feed for a time
determined by the Exchange, not to
exceed one second. At the end of the
exposure period, if still unexecuted, the
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 17 CFR 240.19b–4(f)(6).
4 Changes are marked to the rules of The
NASDAQ Stock Market LLC found at https://
nasdaqomx.cchwallstreet.com.
2 17
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jlentini on DSKJ8SOYB1PROD with NOTICES
Federal Register / Vol. 74, No. 164 / Wednesday, August 26, 2009 / Notices
order will be routed to the market(s) at
the NBBO, cancelled back to the
entering party, or posted on the book
pursuant to Section 7 of Chapter VI.
Any update to the NBBO that
improves the exposed order price will
cause an immediate end to the exposure
period. Any unexecuted portion of the
order will be routed to the market(s) at
the NBBO, cancelled back to the
entering party or posted on the book
pursuant to Section 7 of Chapter VI.
Any update to the NBBO that unlocks
the exposed order price will cause an
immediate end to the exposure period.
Any unexecuted portion of the order
will be executed against contra interest
on the book, routed to the market(s) at
the NBBO, cancelled back to the
entering party or posted on the book
pursuant to Section 7 of Chapter VI.]
*
*
*
*
*
Sec. 6 Acceptance of Quotes and
Orders
All bids or offers made and accepted
on NOM in accordance with the NOM
Rules shall constitute binding contracts,
subject to applicable requirements of the
Rules of the Exchange and the Rules of
the Clearing Corporation.
(a) General—A System order is an
order that is entered into the System for
display and/or execution as appropriate.
Such orders are executable against
marketable contra-side orders in the
System.
(1) All System Orders shall indicate
limit price and whether they are a call
or put and buy or sell. Systems Orders
can be designated as Immediate or
Cancel (‘‘IOC’’), Good-till-Cancelled
(‘‘GTC’’), Day (‘‘DAY’’), WAIT or Expire
Time (‘‘EXPR’’).
(2) A System order may also be
designated as a Reserve Order, a Limit
Order, a Minimum Quantity Order, a
Discretionary Order, a Market Order, a
Price Improving Order, or an Exchange
Direct Order[, or an Additional
Exposure Order].
*
*
*
*
*
Sec. 11 Order Routing
(a) For System securities, the order
routing process shall be available to
Participants from 9:30 a.m. Eastern
Time until market close, and shall route
orders as follows. Participants can
designate orders as either available for
routing or not available for routing.
Orders designated as not available for
routing shall follow the book processing
rules set forth in Section 10 above.
Orders designated as available for
routing, will first check the System for
available contracts for execution. After
checking the System for available
contracts, orders are sent to other
available market centers for potential
VerDate Nov<24>2008
17:05 Aug 25, 2009
Jkt 217001
execution, per entering firm’s
instructions. When checking the book,
the System will seek to execute at the
price at which it would send the order
to a destination market center. [Orders
designated as Additional Exposure
Orders, as defined in Chapter VI,
Section 1, will be exposed on the
System Book Feed prior to routing to
other markets.] If contracts remain unexecuted after routing, they are posted
on the book. Once on the book, should
the order subsequently be locked or
crossed by another market center, the
System will not route the order to the
locking or crossing market center. With
the exception of the Minimum Quantity
order type, all time-in-force parameters
and order types may be used in
conjunction with this routing option.
*
*
*
*
*
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Nasdaq 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. Nasdaq 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
1. Purpose
Nasdaq has not yet implemented a
recently approved rule change to the
NOM rules, which would provide
marketable orders an additional
opportunity for execution on the NOM
when NOM is not part of the NBBO.5
Upon further review, Nasdaq proposes
to eliminate this additional opportunity
for execution on the NOM.
2. Statutory Basis
Nasdaq believes that the proposed
rule change is consistent with the
provisions of Section 6 of the Act,6 in
general, and with Sections 6(b)(5) of the
Act,7 in particular, in that the proposal
is designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
5 See Securities Exchange Act Release No. 60335
(July 17, 2009), 74 FR 36790 (July 24, 2009) (SR–
NASDAQ–2009–066).
6 15 U.S.C. 78f.
7 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00118
Fmt 4703
Sfmt 4703
43211
coordination with persons engaged in
regulating, clearing, settling, processing
information with respect to, and
facilitating transactions in securities, 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.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act, as amended.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Written comments were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the 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 from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 8 and Rule 19b–
4(f)(6) thereunder.9
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, as amended, is consistent with
the Act. Comments may be submitted by
any of the following methods:
8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
provide the Commission with 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
Commission deems this requirement to have been
met.
9 17
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43212
Federal Register / Vol. 74, No. 164 / Wednesday, August 26, 2009 / Notices
Electronic Comments
DEPARTMENT OF STATE
• 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–NASDAQ–2009–076 on the
subject line.
[Public Notice 6738]
August 26, 2009.
Department of State.
Notice of Issuance of a
Presidential Permit for the Proposed
Enbridge Energy Alberta Clipper
Pipeline Project.
AGENCY:
ACTION:
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
jlentini on DSKJ8SOYB1PROD with NOTICES
Notice of Issuance of a Presidential
Permit for the Proposed Enbridge
Energy Alberta Clipper Pipeline Project
SUMMARY: This notice announces that on
August 20, 2009, the Department of
State issued a Presidential Permit to
Enbridge Energy, Limited Partnership
All submissions should refer to File
(‘‘Enbridge’’) authorizing it to construct,
Number SR–NASDAQ–2009–076. This
connect, operate, and maintain facilities
file number should be included on the
subject line if e-mail is used. To help the at the border of the United States and
Canada for the transport of crude oil
Commission process and review your
between the United States and Canada
comments more efficiently, please use
only one method. The Commission will across the international boundary.
On May 15, 2007, Enbridge submitted
post all comments on the Commission’s
an application to the U.S. Department of
Internet Web site (https://www.sec.gov/
State (DOS) for construction,
rules/sro.shtml). Copies of the
connection, operation, and maintenance
submission, all subsequent
of an oil pipeline and associated
amendments, all written statements
facilities at the U.S.-Canada border to
with respect to the proposed rule
enable Enbridge to import heavy crude
change that are filed with the
oil from Canada (the Alberta Clipper
Commission, and all written
Project).
communications relating to the
Executive Order 13337 of April 30,
proposed rule change between the
2004, as amended, delegates to the
Commission and any person, other than Secretary of State the President’s
those that may be withheld from the
authority to receive applications for
public in accordance with the
permits for the construction,
provisions of 5 U.S.C. 552, will be
connection, operation, or maintenance
available for inspection and copying in
of facilities, including pipelines, for the
the Commission’s Public Reference
exportation or importation of petroleum,
Room on official business days between petroleum products, coal, or other fuels
the hours of 10 a.m. and 3 p.m. Copies
at the border of the United States and to
issue or deny such Presidential Permits
of such filing also will be available for
upon a national interest determination.
inspection and copying at the principal
The functions assigned to the Secretary
office of the Exchange. All comments
received will be posted without change; have been further delegated within the
Department of State to, inter alia, the
the Commission does not edit personal
Deputy Secretary of State.
identifying information from
Consistent with the National
submissions. You should submit only
Environmental Policy Act of 1969
information that you wish to make
(‘‘NEPA’’), 42 U.S.C. 4321–4370f, the
available publicly.
Council of Environmental Quality
All submissions should refer to File
Regulations for Implementing the
Number SR–NASDAQ–2009–076 and
Procedural Provisions of NEPA, 40 CFR
should be submitted on or before
parts 1500–1508, and the Department’s
September 16, 2009.
regulations for the implementation of
NEPA, 22 CFR part 161, an
For the Commission, by the Division of
Environmental Impact Statement (EIS)
Trading and Markets, pursuant to delegated
on potential issuance of a Presidential
authority.10
Permit for the construction, connection,
Florence E. Harmon,
operation, and maintenance of the
Deputy Secretary.
pipeline was prepared by Entrix, Inc., a
[FR Doc. E9–20530 Filed 8–25–09; 8:45 am]
contractor selected by the Department of
BILLING CODE 8010–01–P
State.
The Department of State published in
the Federal Register a Notification of
10 17 CFR 200.30–3(a)(12).
Receipt of the Enbridge Application for
VerDate Nov<24>2008
17:05 Aug 25, 2009
Jkt 217001
PO 00000
Frm 00119
Fmt 4703
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a permit on May 25, 2007 (72 FR 29360).
That notification solicited public
comment on the application for a 30-day
period. Thereafter, the Department
published in the Federal Register a
Notification of Intent to Prepare an
Environmental Impact Statement on
March 31, 2008 (73 FR 16920). The
Department’s Notice of Availability of
the Draft EIS and request for public
comment was published in the Federal
Register on December 5, 2008 (73 FR
74221), seeking comments by January
30, 2009. The Department received 850
public comments in response to this
notice and took them into account in
making its determination on the
Enbridge application.
As required by Executive Order
13337, the Enbridge pipeline
application and a Draft Environmental
Impact Statement were transmitted to
Federal agencies for their review and
comment on December 5, 2008. The
Department of State received no
objections from Federal agencies
regarding the issuance of a permit. The
Department published a notice of the
availability of the Final Environmental
Impact Statement in the Federal
Register on June 8, 2009 (74 FR 27229).
Consistent with its authority under
Executive Order 13337, the Department
reviewed all of the available information
and documentation, including
comments submitted by Federal and
State agencies and the public. On
August 3, 2009, the Secretary’s Delegate,
Deputy Secretary James B. Steinberg,
signed the Record of Decision and
National Interest Determination, which
states that issuance of the Presidential
Permit for the Alberta Clipper Pipeline
Project would serve the national
interest.
Executive Order 13337 requires that
Secretaries or Heads of certain agencies
be notified of the Department’s
proposed determination concerning
issuance of the Presidential Permit. Any
agency required to be consulted under
section 1(g) of the Order that disagrees
with the proposed determination may
notify the Secretary of State within 15
days of being notified that it disagrees
with the determination and request that
the Secretary refer the application to the
President. On August 4, 2009, as
required under section 1(g) of the
Executive Order, the Department
notified all agencies of its intent to issue
the Permit. The Department received no
objections from notified agencies.
On August 3, 2009, Deputy Secretary
of State James B. Steinberg, signed the
Presidential Permit, and on August 20,
2009, the Department issued the Permit
to Enbridge.
E:\FR\FM\26AUN1.SGM
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]]>Agencies
[Federal Register Volume 74, Number 164 (Wednesday, August 26, 2009)]
[Notices]
[Pages 43210-43212]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-20530]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-60521; File No. SR-NASDAQ-2009-076]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
To Modify Processing of Orders on the NASDAQ Options Market
August 18, 2009.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on August 13, 2009, The NASDAQ Stock Market LLC (``Nasdaq'') filed with
the Securities and Exchange Commission (``Commission'') the proposed
rule change as described in Items I, II, and III below, which Items
have been substantially prepared by Nasdaq. Nasdaq has designated the
proposed rule change as effecting a change described under Rule 19b-
4(f)(6) under the Act,\3\ which renders the proposal effective upon
filing with the Commission. 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.
\3\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The text of the proposed rule change is below. Proposed new
language is in italics; proposed deletions are in [brackets].\4\
---------------------------------------------------------------------------
\4\ Changes are marked to the rules of The NASDAQ Stock Market
LLC found at https://nasdaqomx.cchwallstreet.com.
---------------------------------------------------------------------------
* * * * *
Chapter VI Trading Systems
Sec. 1 Definitions
The following definitions apply to Chapter VI for the trading of
options listed on NOM.
(a)-(d) No change.
(e) The term ``Order Type'' shall mean the unique processing
prescribed for designated orders that are eligible for entry into the
System, and shall include:
(1)-(7) No Change.
[(8) ``Additional Exposure Orders'' are orders that are priced at
the National Best Offer, for buys, and the National Best Bid, for
sells. The order is exposed on the System Book Feed for a time
determined by the Exchange, not to exceed one second. At the end of the
exposure period, if still unexecuted, the
[[Page 43211]]
order will be routed to the market(s) at the NBBO, cancelled back to
the entering party, or posted on the book pursuant to Section 7 of
Chapter VI.
Any update to the NBBO that improves the exposed order price will
cause an immediate end to the exposure period. Any unexecuted portion
of the order will be routed to the market(s) at the NBBO, cancelled
back to the entering party or posted on the book pursuant to Section 7
of Chapter VI.
Any update to the NBBO that unlocks the exposed order price will
cause an immediate end to the exposure period. Any unexecuted portion
of the order will be executed against contra interest on the book,
routed to the market(s) at the NBBO, cancelled back to the entering
party or posted on the book pursuant to Section 7 of Chapter VI.]
* * * * *
Sec. 6 Acceptance of Quotes and Orders
All bids or offers made and accepted on NOM in accordance with the
NOM Rules shall constitute binding contracts, subject to applicable
requirements of the Rules of the Exchange and the Rules of the Clearing
Corporation.
(a) General--A System order is an order that is entered into the
System for display and/or execution as appropriate. Such orders are
executable against marketable contra-side orders in the System.
(1) All System Orders shall indicate limit price and whether they
are a call or put and buy or sell. Systems Orders can be designated as
Immediate or Cancel (``IOC''), Good-till-Cancelled (``GTC''), Day
(``DAY''), WAIT or Expire Time (``EXPR'').
(2) A System order may also be designated as a Reserve Order, a
Limit Order, a Minimum Quantity Order, a Discretionary Order, a Market
Order, a Price Improving Order, or an Exchange Direct Order[, or an
Additional Exposure Order].
* * * * *
Sec. 11 Order Routing
(a) For System securities, the order routing process shall be
available to Participants from 9:30 a.m. Eastern Time until market
close, and shall route orders as follows. Participants can designate
orders as either available for routing or not available for routing.
Orders designated as not available for routing shall follow the book
processing rules set forth in Section 10 above. Orders designated as
available for routing, will first check the System for available
contracts for execution. After checking the System for available
contracts, orders are sent to other available market centers for
potential execution, per entering firm's instructions. When checking
the book, the System will seek to execute at the price at which it
would send the order to a destination market center. [Orders designated
as Additional Exposure Orders, as defined in Chapter VI, Section 1,
will be exposed on the System Book Feed prior to routing to other
markets.] If contracts remain un-executed after routing, they are
posted on the book. Once on the book, should the order subsequently be
locked or crossed by another market center, the System will not route
the order to the locking or crossing market center. With the exception
of the Minimum Quantity order type, all time-in-force parameters and
order types may be used in conjunction with this routing option.
* * * * *
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, Nasdaq 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. Nasdaq 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
1. Purpose
Nasdaq has not yet implemented a recently approved rule change to
the NOM rules, which would provide marketable orders an additional
opportunity for execution on the NOM when NOM is not part of the
NBBO.\5\ Upon further review, Nasdaq proposes to eliminate this
additional opportunity for execution on the NOM.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 60335 (July 17,
2009), 74 FR 36790 (July 24, 2009) (SR-NASDAQ-2009-066).
---------------------------------------------------------------------------
2. Statutory Basis
Nasdaq believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\6\ in general, and with
Sections 6(b)(5) of the Act,\7\ in particular, in that the proposal is
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, 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.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f.
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
Nasdaq does not believe that the proposed rule change will result
in any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the 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 from the date on which it was filed, or such shorter time as the
Commission may designate, it has become effective pursuant to Section
19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
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\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to provide the Commission
with 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 Commission deems this requirement to have been met.
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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, as amended, is consistent with the Act. Comments may be
submitted by any of the following methods:
[[Page 43212]]
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-NASDAQ-2009-076 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-NASDAQ-2009-076. 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-NASDAQ-2009-076 and
should be submitted on or before September 16, 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. E9-20530 Filed 8-25-09; 8:45 am]
BILLING CODE 8010-01-P
