Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the $1.00 Strike Program To Allow Low-Strike LEAPS on the Boston Options Exchange Facility, 62623-62624 [E9-28471]
Download as PDF
Federal Register / Vol. 74, No. 228 / Monday, November 30, 2009 / Notices
56. James M. Clous, Registered
Representative, dated October 2, 2009.
57. Gerard P. Gloisten, President, GBS
Financial Corp, dated October 2, 2009
(‘‘GBS Financial Letter’’).
58. Ronald C. Long, Director,
Regulatory Affairs, Wells Fargo
Advisors, dated October 2, 2009.
59. Debra G. McGuire, CPA, McGuire
Dyke Investment Group, dated October
2, 2009.
60. E. John Moloney, Chairman,
SIFMA Small Firms Committee,
Securities Industry and Financial
Markets Association, dated October 2,
2009 (‘‘SIFMA Letter’’).
61. Kevin L. Palmer, CEO/President,
World Group Securities Inc., dated
October 2, 2009 (‘‘World Group Letter’’).
62. Mark J. Schlafly, President & CEO,
FSC Securities Corporation, dated
October 2, 2009 (‘‘FSC Securities
Letter’’).
63. Sutherland Asbill & Brennan LLP,
on behalf of Committee of Annuity
Insurers, dated October 2, 2009
(‘‘Committee of Annuity Insurers
Letter’’).
64. John S. Watts, SVP & Chief
Counsel, PFS Investment Inc., dated
October 2, 2009 (‘‘PFS Investment
Letter’’).
65. Edward Wiles, SVP & CCO,
Genworth Financial Securities Corp,
dated October 2, 2009.
66. Cuneo, Gilbert & Laduca LLP and
Greenfield & Goodman LLC, on behalf of
Standard Investment Chartered Inc.,
dated October 5, 2009.
67. Elliott Harris, dated October 5,
2009.
68. Daniel W. Roberts, President/CEO,
Roberts & Ryan Investments Inc., dated
October 5, 2009.
69. Mark E. Larson, Esquire, CPA,
Academic Director of the Certificate in
Financial planning Program at
Marquette University, dated October 13,
2009.
[FR Doc. E9–28472 Filed 11–27–09; 8:45 am]
BILLING CODE 8011–01–P
WReier-Aviles on DSKGBLS3C1PROD with NOTICES
[Release No. 34–61041; File No. SR–BX–
2009–073]
The Exchange proposes to amend
Chapter IV, Section 6 (Series of Options
Contracts Open for Trading) of the Rules
of the Boston Options Exchange Group,
LLC (‘‘BOX’’) to amend the $1 Strike
Price Program. The text of the proposed
rule change is available from the
principal office of the Exchange, at the
Commission’s Public Reference Room
and also on the Exchange’s Internet Web
site at https://
nasdaqomxbx.cchwallstreet.com/
NASDAQOMXBX/Filings/.
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.
1. Purpose
Self-Regulatory Organizations;
NASDAQ OMX BX, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Amend the
$1.00 Strike Program To Allow LowStrike LEAPS on the Boston Options
Exchange Facility
The purpose of the proposed rule
change is to expand the $1 Strike Price
Program (‘‘Program’’) in a limited
fashion to allow BOX to list new series
in $1 intervals up to $5 in long-term
option series (‘‘LEAPS’’) in up to 200
1 15
November 20, 2009.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
14:58 Nov 27, 2009
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
VerDate Nov<24>2008
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on November
19, 2009, NASDAQ OMX BX, Inc. (the
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. The
Exchange filed the proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(6) 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
from interested persons.
Jkt 220001
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
2 17
PO 00000
Frm 00072
Fmt 4703
Sfmt 4703
62623
option classes on individual stocks.5
Currently, under the Program, BOX may
not list LEAPS at $1 strike price
intervals for any class selected for the $1
Strike Price Program. BOX also is
restricted from listing any series that
would result in strike prices being $0.50
apart, unless the series are part of the
$0.50 Strike Price Program.6
The Exchange believes that this
proposal is appropriate and will allow
investors to establish option positions
that are better tailored to meet their
`
investment objectives, vis-a-vis credit
risk, using deep out-of-the-money put
options. Deep out-of-the-money put
options are viewed as a viable, liquid
alternative to OTC-traded credit default
swaps (‘‘CDS’’). These options do not
possess the negative characteristics
associated with CDS, namely, lack of
transparency, insufficient collateral
requirements, and inefficient trade
processing. Moreover, deep out-of-themoney put options and CDS are
functionally similar, as there is a high
correlation between low-strike put
prices and CDS spreads.
BOX notes that its proposal is limited
in scope, as $1 strikes in LEAPS may
only be listed up to $5 and in only up
to 200 option classes. As is currently the
case, BOX would not list series with
$1.00 intervals within $0.50 of an
existing $2.50 strike price in the same
series. As a result, the Exchange does
not believe that this proposal will cause
a significant increase in quote traffic.
Moreover, as the SEC is aware, BOX
has adopted various quote mitigation
strategies in an effort to lessen the
growth rate of quotations. When it
expanded the $1 Strike Price Program
several months ago, BOX included a
delisting policy that would be
applicable with regard to this proposed
expansion.7 The Exchange and the other
options exchanges amended the Options
Listing Procedures Plan (‘‘OLPP’’) in
2008 to impose a minimum volume
threshold of 1,000 contracts national
average daily volume per underlying
class to qualify for an additional year of
LEAP series.8 Most recently, the
Exchange, along with the other options
exchanges, amended the OLPP to adopt
objective, exercise price range
5 Under the Chapter IV, Section 8 of the BOX
Rules LEAPS expire from 12–39 months from the
time they are listed.
6 On October 6, 2009, BOX filed SR–BX–2009–
063 for immediate effectiveness, which filing
established a $0.50 Strike Price Program.
7 The delisting policy includes a provision that
states BOX may grant Participant requests to add
strikes and/or maintain strikes in series of options
classes traded pursuant to the $1 Strike Price
Program that are otherwise eligible for delisting.
8 See SEC Release No. 34–58630 (September 24,
2008), approving Amendment No. 2 to the OLPP.
E:\FR\FM\30NON1.SGM
30NON1
62624
Federal Register / Vol. 74, No. 228 / Monday, November 30, 2009 / Notices
limitations applicable to equity option
classes, options on ETFs and options on
trust issued receipts.9 The Exchange
believes that these price range
limitations will have a meaningful quote
mitigation impact.
The margin requirements set forth in
Chapter XIII of the BOX Rules and the
position and exercise requirements set
forth in Chapter III, Sections 7 through
10 of the BOX Rules will continue to
apply to these new series, and no
changes are being proposed to those
requirements by this rule change.
With regard to the impact on system
capacity, BOX has analyzed its capacity
and represents that it and the Options
Price Reporting Authority have the
necessary systems capacity to handle
the additional traffic associated with the
listing and trading of an expanded
number of series as proposed by this
filing.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with the
requirements of Section 6(b) of the
Act,10 in general, and Section 6(b)(5) of
the Act,11 in particular, in that it is
designed 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 for 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 listing of the $1 strike prices in
LEAPS series will benefit investors by
giving them more flexibility to closely
tailor their investment decisions.
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 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
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
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires a self-regulatory organization to give
the Commission written notice of its intent to file
the proposed rule change, 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
has waived this requirement in this case.
14 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
15 See Securities Exchange Act Release No. 60978
(November 10, 2009), 74 FR 59296 (November 17,
2009) (SR–CBOE–2009–068).
13 17
9 See SEC Release No. 34–60531 (August 19,
2009), approving Amendment No. 3 to the OLPP.
BOX’s proposal to list $1 strikes in LEAPs to $5
would not be subject to the exercise price range
limitations contained in new paragraph (3)(g)(ii) of
the OLPP.
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(5).
14:58 Nov 27, 2009
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:
12 15
The Exchange has neither solicited
nor received comments on the proposed
rule change.
VerDate Nov<24>2008
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days after the date of
the filing, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 12 and Rule 19b–
4(f)(6) thereunder.13
The Exchange has requested that the
Commission waive the 30-day operative
delay. The Commission hereby grants
that request.14 The Commission believes
that waiver of the operative delay is
consistent with the protection of
investors and the public interest
because it recently approved a proposal
from CBOE which is identical to the
current proposal in all material respects
and on which no comments were
received.15 Therefore, the proposal is
operative upon filing.
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
PO 00000
Frm 00073
Fmt 4703
Sfmt 4703
Number SR–BX–2009–073 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–BX–2009–073. 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 the filing also will be available
for inspection and copying at the
principal office of the Exchange. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–BX–2009–073 and should
be submitted on or before December 21,
2009.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.16
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9–28471 Filed 11–27–09; 8:45 am]
BILLING CODE 8011–01–P
16 17
E:\FR\FM\30NON1.SGM
CFR 200.30–3(a)(12).
30NON1
Agencies
[Federal Register Volume 74, Number 228 (Monday, November 30, 2009)]
[Notices]
[Pages 62623-62624]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-28471]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61041; File No. SR-BX-2009-073]
Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Amend the
$1.00 Strike Program To Allow Low-Strike LEAPS on the Boston Options
Exchange Facility
November 20, 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 November 19, 2009, NASDAQ OMX BX, Inc. (the ``Exchange'') filed with
the Securities and Exchange Commission (``Commission'') the proposed
rule change as described in Items I and II below, which Items have been
prepared by the self-regulatory organization. The Exchange filed the
proposed rule change pursuant to Section 19(b)(3)(A) of the Act \3\ and
Rule 19b-4(f)(6) 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 from interested
persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend Chapter IV, Section 6 (Series of
Options Contracts Open for Trading) of the Rules of the Boston Options
Exchange Group, LLC (``BOX'') to amend the $1 Strike Price Program. The
text of the proposed rule change is available from the principal office
of the Exchange, at the Commission's Public Reference Room and also on
the Exchange's Internet Web site at https://nasdaqomxbx.cchwallstreet.com/NASDAQOMXBX/Filings/.
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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to expand the $1 Strike
Price Program (``Program'') in a limited fashion to allow BOX to list
new series in $1 intervals up to $5 in long-term option series
(``LEAPS'') in up to 200 option classes on individual stocks.\5\
Currently, under the Program, BOX may not list LEAPS at $1 strike price
intervals for any class selected for the $1 Strike Price Program. BOX
also is restricted from listing any series that would result in strike
prices being $0.50 apart, unless the series are part of the $0.50
Strike Price Program.\6\
---------------------------------------------------------------------------
\5\ Under the Chapter IV, Section 8 of the BOX Rules LEAPS
expire from 12-39 months from the time they are listed.
\6\ On October 6, 2009, BOX filed SR-BX-2009-063 for immediate
effectiveness, which filing established a $0.50 Strike Price
Program.
---------------------------------------------------------------------------
The Exchange believes that this proposal is appropriate and will
allow investors to establish option positions that are better tailored
to meet their investment objectives, vis-[agrave]-vis credit risk,
using deep out-of-the-money put options. Deep out-of-the-money put
options are viewed as a viable, liquid alternative to OTC-traded credit
default swaps (``CDS''). These options do not possess the negative
characteristics associated with CDS, namely, lack of transparency,
insufficient collateral requirements, and inefficient trade processing.
Moreover, deep out-of-the-money put options and CDS are functionally
similar, as there is a high correlation between low-strike put prices
and CDS spreads.
BOX notes that its proposal is limited in scope, as $1 strikes in
LEAPS may only be listed up to $5 and in only up to 200 option classes.
As is currently the case, BOX would not list series with $1.00
intervals within $0.50 of an existing $2.50 strike price in the same
series. As a result, the Exchange does not believe that this proposal
will cause a significant increase in quote traffic.
Moreover, as the SEC is aware, BOX has adopted various quote
mitigation strategies in an effort to lessen the growth rate of
quotations. When it expanded the $1 Strike Price Program several months
ago, BOX included a delisting policy that would be applicable with
regard to this proposed expansion.\7\ The Exchange and the other
options exchanges amended the Options Listing Procedures Plan
(``OLPP'') in 2008 to impose a minimum volume threshold of 1,000
contracts national average daily volume per underlying class to qualify
for an additional year of LEAP series.\8\ Most recently, the Exchange,
along with the other options exchanges, amended the OLPP to adopt
objective, exercise price range
[[Page 62624]]
limitations applicable to equity option classes, options on ETFs and
options on trust issued receipts.\9\ The Exchange believes that these
price range limitations will have a meaningful quote mitigation impact.
---------------------------------------------------------------------------
\7\ The delisting policy includes a provision that states BOX
may grant Participant requests to add strikes and/or maintain
strikes in series of options classes traded pursuant to the $1
Strike Price Program that are otherwise eligible for delisting.
\8\ See SEC Release No. 34-58630 (September 24, 2008), approving
Amendment No. 2 to the OLPP.
\9\ See SEC Release No. 34-60531 (August 19, 2009), approving
Amendment No. 3 to the OLPP. BOX's proposal to list $1 strikes in
LEAPs to $5 would not be subject to the exercise price range
limitations contained in new paragraph (3)(g)(ii) of the OLPP.
---------------------------------------------------------------------------
The margin requirements set forth in Chapter XIII of the BOX Rules
and the position and exercise requirements set forth in Chapter III,
Sections 7 through 10 of the BOX Rules will continue to apply to these
new series, and no changes are being proposed to those requirements by
this rule change.
With regard to the impact on system capacity, BOX has analyzed its
capacity and represents that it and the Options Price Reporting
Authority have the necessary systems capacity to handle the additional
traffic associated with the listing and trading of an expanded number
of series as proposed by this filing.
2. Statutory Basis
The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\10\ in general, and Section
6(b)(5) of the Act,\11\ in particular, in that it is designed 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 for 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 listing of the $1 strike prices in LEAPS
series will benefit investors by giving them more flexibility to
closely tailor their investment decisions.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition 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 neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days after the date of the filing, or such
shorter time as the Commission may designate, if consistent with the
protection of investors and the public interest, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b-
4(f)(6) thereunder.\13\
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, 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 has waived this requirement in this case.
---------------------------------------------------------------------------
The Exchange has requested that the Commission waive the 30-day
operative delay. The Commission hereby grants that request.\14\ The
Commission believes that waiver of the operative delay is consistent
with the protection of investors and the public interest because it
recently approved a proposal from CBOE which is identical to the
current proposal in all material respects and on which no comments were
received.\15\ Therefore, the proposal is operative upon filing.
---------------------------------------------------------------------------
\14\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
\15\ See Securities Exchange Act Release No. 60978 (November 10,
2009), 74 FR 59296 (November 17, 2009) (SR-CBOE-2009-068).
---------------------------------------------------------------------------
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-BX-2009-073 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-BX-2009-073. 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 the filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-BX-2009-073 and should be
submitted on or before December 21, 2009.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------
\16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Elizabeth M. Murphy,
Secretary.
[FR Doc. E9-28471 Filed 11-27-09; 8:45 am]
BILLING CODE 8011-01-P