Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated: Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Reduction of the Customer Transaction Fee for OEX and XEO Weeklys Options, 8776-8777 [2010-3771]

Download as PDF 8776 Federal Register / Vol. 75, No. 37 / Thursday, February 25, 2010 / Notices 2. Statutory Basis Electronic Comments The Exchange believes the proposed rule change is consistent with Section 6(b) 6 of the Securities Exchange Act of 1934 (the ‘‘Act’’), in general, and furthers the objectives of Section 6(b)(5) 7 in particular in that it is designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts, 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, by providing additional methods to trade highly liquid options, and provide greater ability to mitigate risk in managing large portfolios by removing unnecessary position limits. • 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–NYSEAmex–2010–14 on the subject line. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action 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 the proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. jlentini on DSKJ8SOYB1PROD with NOTICES 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: 6 15 7 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). VerDate Nov<24>2008 16:34 Feb 24, 2010 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. [Release No. 34–61533; File No. SR–CBOE– 2010–011] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated: Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Reduction of the Customer Transaction Fee for OEX and XEO Weeklys Options February 18, 2010. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934, 15 U.S.C. 78s(b)(1), notice is hereby given that on January 29, 2010, Chicago Board All submissions should refer to File Options Exchange, Incorported (‘‘CBOE’’ Number SR–NYSEAmex–2010–14. This or the ‘‘Exchange’’) filed with the file number should be included on the Securities and Exchange Commission subject line if e-mail is used. To help the (‘‘Commission’’) the proposed rule Commission process and review your change as described in Items I, II and III comments more efficiently, please use below, which Items have been prepared only one method. The Commission will by CBOE. The Commission is post all comments on the Commission’s publishing this notice to solicit Internet Web site (https://www.sec.gov/ comments on the proposed rule change rules/sro.shtml). Copies of the from interested persons. submission, all subsequent I. Self-Regulatory Organization’s amendments, all written statements Statement of the Terms of Substance of with respect to the proposed rule the Proposed Rule Change change that are filed with the Chicago Board Options Exchange, Commission, and all written Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) communications relating to the proposes to amend its Fees Schedule to proposed rule change between the reduce the transaction fee for short term Commission and any person, other than options series (‘‘Weeklys’’) in options on those that may be withheld from the the S&P 100 Index American-style public in accordance with the options (OEX) and S&P 100 Index provisions of 5 U.S.C. 552, will be European-style options (XEO). The text available for Web site viewing and of the proposed rule change is available printing in the Commission’s Public on the Exchange’s Web site (https:// Reference Room, on official business www.cboe.org/legal), at the Exchange’s days between the hours of 10 a.m. and Office of the Secretary and at the 3 p.m. Copies of such filing also will be Commission. available for inspection and copying at II. Self-Regulatory Organization’s the principal office of the Exchange. All Statement of the Purpose of, and comments received will be posted Statutory Basis for, the Proposed Rule without change; the Commission does Change not edit personal identifying In its filing with the Commission, information from submissions. You CBOE included statements concerning should submit only information that the purpose of and basis for the you wish to make available publicly. All proposed rule change and discussed any submissions should refer to File comments it received on the proposed Number SR–NYSEAmex–2010–14 and rule change. The text of these statements should be submitted on or before March may be examined at the places specified 12, 2010. in Item IV below. CBOE has prepared summaries, set forth in sections A, B, For the Commission, by the Division of and C below, of the most significant Trading and Markets, pursuant to delegated aspects of such statements. authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–3773 Filed 2–24–10; 8:45 am] BILLING CODE 8011–01–P 8 17 Jkt 220001 SECURITIES AND EXCHANGE COMMISSION PO 00000 (a) Purpose Weeklys are listed index and equity options that match all other terms of CFR 200.30–3(a)(12). Frm 00132 Fmt 4703 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change Sfmt 4703 E:\FR\FM\25FEN1.SGM 25FEN1 Federal Register / Vol. 75, No. 37 / Thursday, February 25, 2010 / Notices standard options except they are listed for trading for only one week and expire on Fridays other than the third Friday of a month.1 Currently, the Exchange charges public customers (‘‘C’’ origin code) a transaction fee of $.40 per contract in standard and Weeklys options in OEX and XEO. To attract additional customer order flow in OEX and XEO Weeklys options, the Exchange proposes to reduce the transaction fee applicable to these products from $.40 per contract to $.30 per contract effective February 1, 2010. the protection of investors, or otherwise in furtherance of the purposes of the Act. (b) Statutory Basis The Exchange believes the proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (‘‘Act’’),2 in general, and furthers the objectives of Section 6(b)(4) 3 of the Act in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among its members and other persons using its facilities. The proposed reduction in the customer transaction fee for OEX and XEO Weeklys options should attract additional order flow to the Exchange in these products. • 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–CBOE–2010–011 on the subject line. B. Self-Regulatory Organization’s Statement on Burden on Competition CBOE does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. jlentini on DSKJ8SOYB1PROD with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 4 and subparagraph (f)(2) of Rule 19b–4 5 thereunder. 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 1 See Exchange Act Release No. 59824 (April 27, 2009), 74 FR 20518 (May 4, 2009) (permanent approval of Short Term Options Series Pilot Program). CBOE currently offers four Weeklys classes: OEX, XEO, S&P 500 Index (SPX) and MiniS&P 500 Index (XSP). 2 15 U.S.C. 78f(b). 3 15 U.S.C. 78f(b)(4). 4 15 U.S.C. 78s(b)(3)(A). 5 17 CFR 240.19b–4(f)(2). VerDate Nov<24>2008 16:34 Feb 24, 2010 Jkt 220001 IV. Solicitation of Comments 8777 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.6 Florence E. Harmon, Deputy Secretary. 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: [FR Doc. 2010–3771 Filed 2–24–10; 8:45 am] Electronic Comments Bureau of Educational and Cultural Affairs (ECA) Request for Grant Proposals: Youth Ambassadors Program With North America, Central America, and the Caribbean BILLING CODE 8011–01–P DEPARTMENT OF STATE [Public Notice 6905] Announcement Type: New Grant. Funding Opportunity Number: ECA/ PE/C/PY–10–29. Catalog of Federal Domestic Assistance Number: 19.415. Paper Comments Application Deadline: April 22, 2010. • Send paper comments in triplicate Executive Summary: The Office of to Elizabeth M. Murphy, Secretary, Citizen Exchanges, Youth Programs Securities and Exchange Commission, Division, of the Bureau of Educational 100 F Street, NE., Washington, DC and Cultural Affairs (ECA) announces 20549. an open competition for the Youth Ambassadors Program with North All submissions should refer to File America, Central America and the Number SR–CBOE–2010–011. This file Caribbean. Public and private non-profit number should be included on the subject line if e-mail is used. To help the organizations meeting the provisions described in Internal Revenue Code Commission process and review your section 26 U.S.C. 501(c)(3) may submit comments more efficiently, please use only one method. The Commission will proposals to recruit and select youth post all comments on the Commission’s and adult participants, to provide them with three-week exchanges focused on Internet Web site (https://www.sec.gov/ civic education, community service, and rules/sro.shtml). Copies of the leadership, and to support follow-on submission, all subsequent projects in their home communities. It amendments, all written statements is anticipated that exchange delegations with respect to the proposed rule will travel from select countries to the change that are filed with the United States, and that U.S. exchange Commission, and all written delegations will travel to select communications relating to the countries. proposed rule change between the Commission and any person, other than I. Funding Opportunity Description those that may be withheld from the Authority public in accordance with the provisions of 5 U.S.C. 552, will be Overall grant making authority for available for Web site viewing and this program is contained in the Mutual printing in the Commission’s Public Educational and Cultural Exchange Act Reference Room, 100 F Street, NE., of 1961, Public Law 87–256, as Washington, DC 20549 on official amended, also known as the Fulbrightbusiness days between the hours of 10 Hays Act. The purpose of the Act is ‘‘to a.m. and 3 p.m. Copies of such filing enable the Government of the United also will be available for inspection and States to increase mutual understanding copying at the principal office of CBOE. between the people of the United States All comments received will be posted and the people of other countries* * *; without change; the Commission does to strengthen the ties which unite us not edit personal identifying with other nations by demonstrating the information from submissions. You educational and cultural interests, should submit only information that developments, and achievements of the you wish to make available publicly. All people of the United States and other submissions should refer to File nations* * *and thus to assist in the Number SR–CBOE–2010–011 and development of friendly, sympathetic should be submitted on or before March 18, 2010. 6 17 CFR 200.30–3(a)(12). PO 00000 Frm 00133 Fmt 4703 Sfmt 4703 E:\FR\FM\25FEN1.SGM 25FEN1

Agencies

[Federal Register Volume 75, Number 37 (Thursday, February 25, 2010)]
[Notices]
[Pages 8776-8777]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-3771]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-61533; File No. SR-CBOE-2010-011]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated: Notice of Filing and Immediate Effectiveness of Proposed 
Rule Change Relating to Reduction of the Customer Transaction Fee for 
OEX and XEO Weeklys Options

February 18, 2010.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 
1934, 15 U.S.C. 78s(b)(1), notice is hereby given that on January 29, 
2010, Chicago Board Options Exchange, Incorported (``CBOE'' or the 
``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 CBOE. 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

    Chicago Board Options Exchange, Incorporated (``CBOE'' or 
``Exchange'') proposes to amend its Fees Schedule to reduce the 
transaction fee for short term options series (``Weeklys'') in options 
on the S&P 100 Index American-style options (OEX) and S&P 100 Index 
European-style options (XEO). The text of the proposed rule change is 
available on the Exchange's Web site (https://www.cboe.org/legal), at 
the Exchange's Office of the Secretary and at the Commission.

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

    In its filing with the Commission, CBOE 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. CBOE 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

(a) Purpose
    Weeklys are listed index and equity options that match all other 
terms of

[[Page 8777]]

standard options except they are listed for trading for only one week 
and expire on Fridays other than the third Friday of a month.\1\ 
Currently, the Exchange charges public customers (``C'' origin code) a 
transaction fee of $.40 per contract in standard and Weeklys options in 
OEX and XEO. To attract additional customer order flow in OEX and XEO 
Weeklys options, the Exchange proposes to reduce the transaction fee 
applicable to these products from $.40 per contract to $.30 per 
contract effective February 1, 2010.
---------------------------------------------------------------------------

    \1\ See Exchange Act Release No. 59824 (April 27, 2009), 74 FR 
20518 (May 4, 2009) (permanent approval of Short Term Options Series 
Pilot Program). CBOE currently offers four Weeklys classes: OEX, 
XEO, S&P 500 Index (SPX) and Mini-S&P 500 Index (XSP).
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(b) Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
Section 6(b) of the Securities Exchange Act of 1934 (``Act''),\2\ in 
general, and furthers the objectives of Section 6(b)(4) \3\ of the Act 
in particular, in that it is designed to provide for the equitable 
allocation of reasonable dues, fees, and other charges among its 
members and other persons using its facilities. The proposed reduction 
in the customer transaction fee for OEX and XEO Weeklys options should 
attract additional order flow to the Exchange in these products.
---------------------------------------------------------------------------

    \2\ 15 U.S.C. 78f(b).
    \3\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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

    CBOE does not believe that the proposed rule change will impose any 
burden on competition that is not necessary or appropriate in 
furtherance of purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A) of the Act \4\ and subparagraph (f)(2) of Rule 19b-4 \5\ 
thereunder. 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.
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    \4\ 15 U.S.C. 78s(b)(3)(A).
    \5\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-CBOE-2010-011 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.

All submissions should refer to File Number SR-CBOE-2010-011. 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 Web site viewing and 
printing 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 CBOE. 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-CBOE-2010-011 and should be 
submitted on or before March 18, 2010.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-3771 Filed 2-24-10; 8:45 am]
BILLING CODE 8011-01-P
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