Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Approving Proposed Rule Change Related to Market-Maker and Specialist Orders, 50853 [E9-23624]

Download as PDF Federal Register / Vol. 74, No. 189 / Thursday, October 1, 2009 / Notices 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–DTC–2009–15 on the subject line. Paper Comments PWALKER on DSK8KYBLC1PROD with NOTICES • 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–DTC–2009–15. 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 filings also will be available for inspection and copying at the principal office of DTC and on DTC’s Web site at https://www.dtcc.com/ legal/rule_filings/dtc/2009–15.pdf. 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–DTC–2009–15 and should be submitted on or before October 22, 2009. For the Commission by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–23623 Filed 9–30–09; 8:45 am] BILLING CODE 8011–01–P 10 17 CFR 200.30–3(a)(12). VerDate Nov<24>2008 20:39 Sep 30, 2009 Jkt 217001 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60710; File No. SR–CBOE– 2009–057] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Approving Proposed Rule Change Related to Market-Maker and Specialist Orders September 23, 2009. On August 10, 2009, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to eliminate Rule 6.73(d) and its requirement to orally identify a Market-Maker or a Specialist order in open outcry before requesting a quote. The proposed rule change was published for comment in the Federal Register on August 19, 2009.3 The Commission received no comments on the proposal. This order approves the proposed rule change. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.4 In particular, the Commission finds that the proposed rule change is consistent with the provisions of Section 6(b)(5) of the Act,5 which requires, among other things, that the CBOE rules be designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts and practices, to remove impediments to and to perfect the mechanism for a free and open market and a national market system, and, in general, to protect investors and the public interest. According to the CBOE, it adopted Rule 6.73(d) to ensure that MarketMaker and Specialist orders were not inadvertently represented as public customer orders, which receive preferential treatment in certain instances under CBOE rules.6 The CBOE proposes to eliminate the requirement 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 60491 (August 12, 2009), 74 FR 41953. 4 In approving this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition and capital formation. See 15 U.S.C. 78c(f). 5 15 U.S.C. 78f(b)(5). 6 See Securities Exchange Act Release No. 46102 (June 21, 2002), 67 FR 43692 (June 28, 2002) (SR– CBOE–2002–33) (immediately effective rule change relating to the identification of Market-Maker and Specialist orders). 2 17 PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 50853 in Rule 6.73(d) to orally identify the Market-Maker and Specialist orders in open outcry and represents that the requirement is superfluous and unnecessary because the preferential treatment afforded to public customer orders was system-enforced through the order marking requirement. In addition, the CBOE represents that it no longer utilizes the RAES trading platform for which the order identification procedure was introduced. In approving the proposed rule change, the Commission notes that it received no comments on the proposed rule change and bases its approval, in part, on the CBOE’s representations that public customer orders will continue to receive appropriate preferential treatment under its Hybrid Trading System and existing rules. It is therefore ordered, pursuant to Section 19(b)(2) of the Act,7 that the proposed rule change (SR–CBOE–2009– 057) be, and it hereby is, approved. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–23624 Filed 9–30–09; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–60717; File No. SR– NYSEArca–2009–74] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Amendment No. 1 and Order Granting Accelerated Approval of a Proposed Rule Change, as Modified by Amendment No. 1, Relating To Listing Four Grail Advisors RP ExchangeTraded Funds September 24, 2009. On August 12, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’), through its wholly owned subsidiary, NYSE Arca Equities, Inc. (‘‘NYSE Arca Equities’’), filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to list and trade shares (‘‘Shares’’) of the following Grail Advisors actively-managed exchangetraded funds: RP Growth ETF, RP Focused Large Cap Growth ETF, RP Technology ETF and the RP Financials 7 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 8 17 E:\FR\FM\01OCN1.SGM 01OCN1

Agencies

[Federal Register Volume 74, Number 189 (Thursday, October 1, 2009)]
[Notices]
[Page 50853]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-23624]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-60710; File No. SR-CBOE-2009-057]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Order Approving Proposed Rule Change Related to Market-
Maker and Specialist Orders

September 23, 2009.

    On August 10, 2009, the Chicago Board Options Exchange, 
Incorporated (``CBOE'') filed with the Securities and Exchange 
Commission (``Commission''), pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to eliminate Rule 6.73(d) and its 
requirement to orally identify a Market-Maker or a Specialist order in 
open outcry before requesting a quote. The proposed rule change was 
published for comment in the Federal Register on August 19, 2009.\3\ 
The Commission received no comments on the proposal. This order 
approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 60491 (August 12, 
2009), 74 FR 41953.
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    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities exchange.\4\ In 
particular, the Commission finds that the proposed rule change is 
consistent with the provisions of Section 6(b)(5) of the Act,\5\ which 
requires, among other things, that the CBOE rules be designed to 
promote just and equitable principles of trade, to prevent fraudulent 
and manipulative acts and practices, to remove impediments to and to 
perfect the mechanism for a free and open market and a national market 
system, and, in general, to protect investors and the public interest.
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    \4\ In approving this proposal, the Commission has considered 
the proposed rule's impact on efficiency, competition and capital 
formation. See 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(5).
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    According to the CBOE, it adopted Rule 6.73(d) to ensure that 
Market-Maker and Specialist orders were not inadvertently represented 
as public customer orders, which receive preferential treatment in 
certain instances under CBOE rules.\6\ The CBOE proposes to eliminate 
the requirement in Rule 6.73(d) to orally identify the Market-Maker and 
Specialist orders in open outcry and represents that the requirement is 
superfluous and unnecessary because the preferential treatment afforded 
to public customer orders was system-enforced through the order marking 
requirement. In addition, the CBOE represents that it no longer 
utilizes the RAES trading platform for which the order identification 
procedure was introduced.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 46102 (June 21, 
2002), 67 FR 43692 (June 28, 2002) (SR-CBOE-2002-33) (immediately 
effective rule change relating to the identification of Market-Maker 
and Specialist orders).
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    In approving the proposed rule change, the Commission notes that it 
received no comments on the proposed rule change and bases its 
approval, in part, on the CBOE's representations that public customer 
orders will continue to receive appropriate preferential treatment 
under its Hybrid Trading System and existing rules.
    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\7\ that the proposed rule change (SR-CBOE-2009-057) be, and it 
hereby is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).
    \8\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-23624 Filed 9-30-09; 8:45 am]
BILLING CODE 8011-01-P
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