Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing of Proposed Rule Change Relating to Foreign Currency Options, 61400-61402 [E9-28096]

Download as PDF 61400 Federal Register / Vol. 74, No. 225 / Tuesday, November 24, 2009 / Notices the Exchange to be so organized as to have the capacity to be able to carry out the purposes of the Exchange Act and to comply with and enforce compliance by members and persons associated with members with provisions of the Exchange Act, the rules and regulations thereunder, and SRO rules, and 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 for a free and open market and a national market system, and, in general, to protect investors and the public interest. Moreover, the proposed rule change will ensure that U.S. Exchange Holdings, the direct parent company of ISE Holdings and indirect affiliate of the DE Exchanges, will not act in a way that is inconsistent with the DE Exchanges’ obligations under the Exchange Act. 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. WReier-Aviles on DSKGBLS3C1PROD with NOTICES C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. 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 Exchange consents, the Commission will: (A) By order approve the 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, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: VerDate Nov<24>2008 15:15 Nov 23, 2009 Jkt 220001 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 No. SR–ISE–2009–90 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. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–61010; File No. SR–ISE– 2009–87] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing of Proposed Rule Change Relating to Foreign Currency Options November 16, 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 October All submissions should refer to File 27, 2009, the International Securities Number SR–ISE–2009–90. This file Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’), number should be included on the filed with the Securities and Exchange subject line if e-mail is used. To help the Commission (‘‘Commission’’) the Commission process and review your proposed rule change as described in comments more efficiently, please use Items I, II, and III below, which Items only one method. The Commission will have been prepared by the Exchange. post all comments on the Commission’s The Commission is publishing this Internet Web site (https://www.sec.gov/ notice to solicit comments on the rules/sro.shtml). Copies of the proposed rule change from interested submission, all subsequent persons. 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 communications relating to the The Exchange proposes to amend its proposed rule change between the Commission and any person, other than rules regarding Foreign Currency Options (‘‘FX Options’’).3 The text of the those that may be withheld from the proposed rule change is available on the public in accordance with the Exchange’s Web site https:// provisions of 5 U.S.C. 552, will be www.ise.com, at the principal office of available for inspection and copying in the Exchange, and at the Commission’s the Commission’s Public Reference Room, on official business days between Public Reference Room. the hours of 10 a.m. and 3 p.m. Copies II. Self-Regulatory Organization’s of such filing also will be available for Statement of the Purpose of, and inspection and copying at the principal Statutory Basis for, the Proposed Rule office of the Exchange. All comments Change received will be posted without change; In its filing with the Commission, the the Commission does not edit personal self-regulatory organization included identifying information from statements concerning the purpose of, submissions. You should submit only and basis for, the proposed rule change information that you wish to make and discussed any comments it received available publicly. All submissions on the proposed rule change. The text should refer to File Number SR–ISE– 2009–90 and should be submitted on or of those statements may be examined at the places specified in Item IV below. before December 15, 2009. The Exchange has prepared summaries, For the Commission, by the Division of set forth in sections A, B, and C below, Trading and Markets, pursuant to delegated of the most significant parts of such authority.11 statements. Florence E. Harmon, Deputy Secretary. [FR Doc. E9–28196 Filed 11–23–09; 8:45 am] 1 15 BILLING CODE 8011–01–P U.S.C. 78s(b)(1). CFR 240.19b–4. 3 ISE began trading FX options on April 17, 2007. See Securities Exchange Act Release No. 55575 (April 3, 2007), 72 FR 17963 (April 10, 2007) (SR– ISE–2006–59) (the ‘‘FX Options Filing’’). 2 17 11 17 PO 00000 CFR 200.30–3(a)(12). Frm 00084 Fmt 4703 Sfmt 4703 E:\FR\FM\24NON1.SGM 24NON1 Federal Register / Vol. 74, No. 225 / Tuesday, November 24, 2009 / Notices A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change WReier-Aviles on DSKGBLS3C1PROD with NOTICES 1. Purpose ISE proposes to amend its rules regarding FX Options. Specifically, the Exchange proposes to amend ISE Rule 2205 by adding a provision that permits the Exchange to list a single strike price of one cent ($0.01) for each expiration month for FX Options opened for trading on the Exchange.4 The proposed one cent strike would be in addition to the strike prices listed by the Exchange pursuant to ISE Rule 2205. Currently, pursuant to ISE Rule 2205, after a class of options contracts on any underlying currency pair has been approved for listing and trading, the Exchange may open for trading series of FX Options that expire in consecutive monthly intervals (ISE Rule 2205(a)(1)(A)), in three or ‘‘cycle’’ month intervals (ISE Rule 2205(a)(1)(B)), or that have up to 36 months to expiration (ISE Rule 2205(a)(1)(C)). For example, pursuant to ISE Rule 2205(a)(1)(A), with respect to each class of FX Options, the Exchange may open for trading series of options having up to four consecutive expiration months, with the shortest term series having no more than two months to expiration. The Exchange may also open additional consecutive month series of the same class for trading at or about the time a prior consecutive month series expires, and the expiration month of each such new series shall normally be the month immediately succeeding the expiration month of the then outstanding consecutive month series of the same class of options having the longest remaining time to expiration. Under this proposed rule change, for each such month opened for trading, the Exchange would list an additional strike price of one cent. The Exchange notes that adding a one cent strike for FX Options will result in a single deep in the money call option to provide investors with exposure similar to that of spot. The Exchange believes creating such exposure provides an opportunity to attract a broader range of market participants by offering a product that, in particular, 4 The Commission notes that the proposed text for ISE Rule 2205 is as follows: Rule 2205. Series of Foreign Currency Options Open for Trading (a)–(b) No Change. (c) For each expiration month opened for trading, in addition to the strike prices listed by the Exchange pursuant to this Rule 2205, the Exchange shall also list a single strike price of one cent ($0.01). VerDate Nov<24>2008 15:15 Nov 23, 2009 Jkt 220001 accommodates retail spot foreign currency traders. The Exchange also believes that a $0.01 strike price would enable certain trading strategies that were previously unavailable to investors. Specifically, investors would be able to engage in strategies that offer similar exposure to a tied-to-spot trade, such as a buy-write trade. The proposed new strike would also appeal to securities brokers that do not currently offer spot foreign currency trading. Many online securities brokers have not offered spot foreign currency trading to their customers because it is not a listed and centrally-cleared product. ISE’s proposed rule change offers such brokers an opportunity to expand their offering beyond equities and retain customer assets that may otherwise go to spot foreign currency trading venues that operate outside of U.S. regulatory jurisdiction. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with the Securities Exchange Act of 1934 (the ‘‘Act’’) and the rules and regulations under the Act applicable to a national securities exchange and, in particular, the requirements of Section 6(b) of the Act.5 Specifically, the Exchange believes the proposed rule change is consistent with Section 6(b)(5) of the Act’s 6 requirements that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts and, in general, to protect investors and the public interest. In particular, the proposed rule change will allow the Exchange to list a single one cent strike for each expiration month of FX Options opened for trading and thereby provide investors with the ability to engage in previously unavailable spot foreign currency trading strategies. B. Self-Regulatory Organization’s Statement on Burden on Competition The proposed rule change does not 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 The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any 5 15 6 15 PO 00000 U.S.C. 78f(b). U.S.C. 78f(b)(5). Frm 00085 Fmt 4703 Sfmt 4703 61401 unsolicited written comments from members or other interested parties. 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 Exchange consents, the Commission will: (A) By order approve the 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, 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 No. SR–ISE–2009–87 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–ISE–2009–87. 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 E:\FR\FM\24NON1.SGM 24NON1 61402 Federal Register / Vol. 74, No. 225 / Tuesday, November 24, 2009 / Notices 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–ISE– 2009–87 and should be submitted on or before December 15, 2009. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.7 Florence E. Harmon, Deputy Secretary. [FR Doc. E9–28096 Filed 11–23–09; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–61023; File No. SR–MSRB– 2009–16] Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of New Rule A–16, on Examination Fees November 18, 2009. WReier-Aviles on DSKGBLS3C1PROD with NOTICES 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 November 5, 2009, the Municipal Securities Rulemaking Board (‘‘MSRB’’ or ‘‘Board’’), 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 prepared by the MSRB. The MSRB has designated the proposed rule change as charging a fee applicable to brokers, dealers and municipal securities dealers pursuant to Section 19(b)(3)(A)(ii) of the Act,3 and Rule 19b–4(f)(2) thereunder,4 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 Substance of the Proposed Rule Change The MSRB is filing new Rule A–16, which provides for examination fee assessments on persons taking certain 7 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 1 15 VerDate Nov<24>2008 15:15 Nov 23, 2009 Jkt 220001 qualification examinations as of January 4, 2010. Any person associated with a broker, dealer or municipal securities dealer (‘‘dealer’’) engaged in municipal securities activities who is a municipal securities representative, municipal securities principal, or municipal fund securities limited principal must take and pass a qualification examination to demonstrate competence in each area in which he or she intends to work. The Series 51 (Municipal Fund Securities Limited Principal Qualification Examination), Series 52 (Municipal Securities Representative Qualification Examination), and Series 53 (Municipal Securities Principal Qualification Examination) are developed, maintained, and owned by the MSRB. The new rule will assess a $60 examination development fee on each individual taking the Series 51, 52, or 53 examinations. The text of the proposed rule change is available on the MSRB’s Web site at www.msrb.org/msrb1/ sec.asp, at the MSRB’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 MSRB 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 MSRB 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 The proposed rule change establishes examination fees that shall be assessed on persons taking certain qualification examinations as of January 4, 2010. Any person associated with a broker, dealer or municipal securities dealer (‘‘dealer’’) engaged in municipal securities activities who is a municipal securities representative, municipal securities principal, or municipal fund securities limited principal must take and pass a qualification examination to demonstrate competence in each area in which he or she intends to work. The Series 51 (Municipal Fund Securities Limited Principal Qualification Examination), Series 52 (Municipal Securities Representative Qualification PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 Examination), and Series 53 (Municipal Securities Principal Qualification Examination) are developed, maintained, and owned by the MSRB. These examinations are intended to safeguard the investing public by helping to ensure that certain persons associated with dealers meet minimum qualifications to perform their job. Given this purpose, the examinations seek to measure accurately and reliably the degree to which each candidate possesses the knowledge, skills and abilities necessary to perform his or her job. The Series 51 examination is 11⁄2 hours and consists of 60 multiple-choice questions, and the Series 52 and 53 examinations are 3 hours each and consist of 100 multiple-choice questions per examination. Currently, the fee assessed by the Financial Industry Regulatory Authority (‘‘FINRA’’), which administers the examination on behalf of the MSRB, is $85 for the Series 51 examination, $95 for the Series 52 examination, and $95 for the Series 53 examination. At present, FINRA receives the entire amount of the fee for each of the examinations, which is intended to cover the cost to FINRA to schedule, administer the examinations, maintain records, and undertake systems changes. Pursuant to the proposed rule change, the MSRB will assess a development fee of $60 per examination, which will be collected by FINRA along with FINRA’s administrative fee. With the addition of the MSRB development fee, the total fee will be $145 for the Series 51 examination, $155 for the Series 52 examination, and $155 for the Series 53 examination. On a periodic basis, FINRA will remit the fees it collects on behalf of the MSRB for development of the examinations to the MSRB and will retain the administrative fees it collects for the delivery of the examinations. The proposed MSRB development fee is intended to partially cover costs incurred to develop and implement the examinations, costs associated with monitoring the examinations for effectiveness, and costs associated with updating the examinations’ content and questions. The development fees will be effective as of January 4, 2010. 2. Statutory Basis The MSRB believes that the proposed rule change is consistent with the requirements of Section 15B(b)(2)(J) of the Act,5 which requires, in pertinent part, that the MSRB’s rules shall: Provide that each municipal securities broker and each municipal securities dealer shall pay to the Board such reasonable fees 5 15 U.S.C. 78o–4(b)(2)(J). E:\FR\FM\24NON1.SGM 24NON1

Agencies

[Federal Register Volume 74, Number 225 (Tuesday, November 24, 2009)]
[Notices]
[Pages 61400-61402]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-28096]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61010; File No. SR-ISE-2009-87]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing of Proposed Rule Change Relating to Foreign 
Currency Options

November 16, 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 October 27, 2009, the International Securities Exchange, LLC 
(``ISE'' or ``Exchange''), 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 prepared by the 
Exchange. 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 amend its rules regarding Foreign Currency 
Options (``FX Options'').\3\ The text of the proposed rule change is 
available on the Exchange's Web site https://www.ise.com, at the 
principal office of the Exchange, and at the Commission's Public 
Reference Room.
---------------------------------------------------------------------------

    \3\ ISE began trading FX options on April 17, 2007. See 
Securities Exchange Act Release No. 55575 (April 3, 2007), 72 FR 
17963 (April 10, 2007) (SR-ISE-2006-59) (the ``FX Options Filing'').
---------------------------------------------------------------------------

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.

[[Page 61401]]

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    ISE proposes to amend its rules regarding FX Options. Specifically, 
the Exchange proposes to amend ISE Rule 2205 by adding a provision that 
permits the Exchange to list a single strike price of one cent ($0.01) 
for each expiration month for FX Options opened for trading on the 
Exchange.\4\ The proposed one cent strike would be in addition to the 
strike prices listed by the Exchange pursuant to ISE Rule 2205.
---------------------------------------------------------------------------

    \4\ The Commission notes that the proposed text for ISE Rule 
2205 is as follows:
    Rule 2205. Series of Foreign Currency Options Open for Trading
    (a)-(b) No Change.
    (c) For each expiration month opened for trading, in addition to 
the strike prices listed by the Exchange pursuant to this Rule 2205, 
the Exchange shall also list a single strike price of one cent 
($0.01).
---------------------------------------------------------------------------

    Currently, pursuant to ISE Rule 2205, after a class of options 
contracts on any underlying currency pair has been approved for listing 
and trading, the Exchange may open for trading series of FX Options 
that expire in consecutive monthly intervals (ISE Rule 2205(a)(1)(A)), 
in three or ``cycle'' month intervals (ISE Rule 2205(a)(1)(B)), or that 
have up to 36 months to expiration (ISE Rule 2205(a)(1)(C)). For 
example, pursuant to ISE Rule 2205(a)(1)(A), with respect to each class 
of FX Options, the Exchange may open for trading series of options 
having up to four consecutive expiration months, with the shortest term 
series having no more than two months to expiration. The Exchange may 
also open additional consecutive month series of the same class for 
trading at or about the time a prior consecutive month series expires, 
and the expiration month of each such new series shall normally be the 
month immediately succeeding the expiration month of the then 
outstanding consecutive month series of the same class of options 
having the longest remaining time to expiration. Under this proposed 
rule change, for each such month opened for trading, the Exchange would 
list an additional strike price of one cent.
    The Exchange notes that adding a one cent strike for FX Options 
will result in a single deep in the money call option to provide 
investors with exposure similar to that of spot. The Exchange believes 
creating such exposure provides an opportunity to attract a broader 
range of market participants by offering a product that, in particular, 
accommodates retail spot foreign currency traders.
    The Exchange also believes that a $0.01 strike price would enable 
certain trading strategies that were previously unavailable to 
investors. Specifically, investors would be able to engage in 
strategies that offer similar exposure to a tied-to-spot trade, such as 
a buy-write trade. The proposed new strike would also appeal to 
securities brokers that do not currently offer spot foreign currency 
trading. Many online securities brokers have not offered spot foreign 
currency trading to their customers because it is not a listed and 
centrally-cleared product. ISE's proposed rule change offers such 
brokers an opportunity to expand their offering beyond equities and 
retain customer assets that may otherwise go to spot foreign currency 
trading venues that operate outside of U.S. regulatory jurisdiction.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
the Securities Exchange Act of 1934 (the ``Act'') and the rules and 
regulations under the Act applicable to a national securities exchange 
and, in particular, the requirements of Section 6(b) of the Act.\5\ 
Specifically, the Exchange believes the proposed rule change is 
consistent with Section 6(b)(5) of the Act's \6\ requirements that the 
rules of a national securities exchange be designed to promote just and 
equitable principles of trade, to prevent fraudulent and manipulative 
acts and, in general, to protect investors and the public interest. In 
particular, the proposed rule change will allow the Exchange to list a 
single one cent strike for each expiration month of FX Options opened 
for trading and thereby provide investors with the ability to engage in 
previously unavailable spot foreign currency trading strategies.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The proposed rule change does not 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

    The Exchange has not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any unsolicited written comments from members or other interested 
parties.

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 Exchange consents, the Commission will:
    (A) By order approve the 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, 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 No. SR-ISE-2009-87 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-ISE-2009-87. 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

[[Page 61402]]

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-ISE-
2009-87 and should be submitted on or before December 15, 2009.

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

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

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E9-28096 Filed 11-23-09; 8:45 am]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.