Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Linkage Pilot, 10857-10858 [2010-4913]
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Federal Register / Vol. 75, No. 45 / Tuesday, March 9, 2010 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61617; File No. SR–Phlx–
2010–22]
Self-Regulatory Organizations;
NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Linkage Pilot
March 1, 2010.
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 February
24, 2010, NASDAQ OMX PHLX, Inc.
(‘‘Phlx’’ or the ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the self-regulatory
organization. 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 Exchange proposes to
discontinue its current pilot program
(the ‘‘pilot’’) relating to fees applicable to
Principal Acting as Agent Orders (‘‘P/A
Orders’’) 3 and Principal Orders (‘‘P
Orders’’).4 The text of the proposed rule
change is available on Phlx’s Web site
at https://www.nasdaqtrader.com, on the
Commission’s Web site at https://
www.sec.gov, at Phlx, 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
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,
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 A P/A Order is an order for the principal
account of a specialist (or equivalent entity on
another participant exchange that is authorized to
represent Public Customer orders), reflecting the
terms of a related unexecuted Public Customer
order for which the specialist is acting as agent. See
Exchange Rule 1088, Phase Out of Intermarket
Linkage Rules.
4 A Principal Order is an order for the principal
account of an Eligible Market Maker and is not a
P/A Order. See Exchange Rule 1088, Phase Out of
Intermarket Linkage Rules.
sroberts on DSKD5P82C1PROD with NOTICES
2 17
VerDate Nov<24>2008
19:04 Mar 08, 2010
Jkt 220001
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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to discontinue the current
pilot program related to transaction fees
for P/A Orders and P Orders sent to the
Exchange via the Intermarket Option
Linkage (‘‘Linkage’’) under the former
Plan for the Purpose of Creating and
Operating an Intermarket Linkage
(‘‘Linkage Plan’’).5 The current pilot is
set to expire July 31, 2010.6
On June 17, 2008, the Exchange filed
an executed copy of the Options Order
Protection and Locked/Crossed Market
Plan (‘‘Plan’’), joining all other approved
options markets in adopting the Plan.7
The Plan requires each options
exchange to adopt rules implementing
various requirements specified in the
Plan.8
The Plan replaces the Linkage Plan.
The Linkage Plan required Participating
Options Exchanges to operate a standalone system or ‘‘Linkage’’ for sending
order-flow between exchanges to limit
5 See Securities Exchange Act Release No. 60363
(July 22, 2009), 74 FR 37270 (July 28, 2009) (SR–
Phlx–2009–61). Linkage was governed by the
Options Linkage Authority under the conditions set
forth under the Plan for the Purpose of Creating and
Operating an Intermarket Option Linkage approved
by the Commission. The registered U.S. options
markets are linked together on a real-time basis
through a network capable of transporting orders
and messages to and from each market.
6 See Securities Exchange Act Release No. 60210
(July 1, 2009), 74 FR 32989 (July 9, 2009) (SR–Phlx–
2009–53).
7 See Securities Exchange Act Release Nos. 60405
(July 20, 2009) (National Market System Plan
Relating to Options Order Protection and Locked/
Crossed Markets). The Plan is a national market
system plan proposed by the seven existing options
exchanges and approved by the Commission. See
Securities Exchange Act Release No. 59647 (March
30, 2009), 74 FR 15010 (April 2, 2009) (File No. 4–
546) (‘‘Plan Notice’’) and 60405 (July 30, 2009), 74
FR 39362 (August 6, 2009) (File No. 4–546) (‘‘Plan
Approval’’). The seven options exchanges are:
Chicago Board Options Exchange, Incorporated
(‘‘CBOE’’); International Securities Exchange LLC
(‘‘ISE’’); NASDAQ OMX BX, Inc. (‘‘BOX’’); The
NASDAQ Stock Market LLC (‘‘Nasdaq’’); NYSE
Amex LLC (‘‘NYSE Amex’’); NYSE Arca, Inc.
(‘‘NYSE Arca’’); and Phlx (each exchange
individually a ‘‘Participant’’ and, together, the
‘‘Participating Options Exchanges’’).
8 See Securities Exchange Act Release No. 60363
(July 22, 2009), 74 FR 37270 (July 28, 2009) (SR–
Phlx–2009–61). Linkage was governed by the
Options Linkage Authority under the conditions set
forth under the Plan for the Purpose of Creating and
Operating an Intermarket Option Linkage approved
by the Commission. The registered U.S. options
markets are linked together on a real-time basis
through a network capable of transporting orders
and messages to and from each market.
PO 00000
Frm 00104
Fmt 4703
Sfmt 4703
10857
trade-throughs.9 The Options Clearing
Corporation (‘‘OCC’’) operated the
Linkage system (the ‘‘System’’).10 The
Exchange adopted various new rules in
connection with the Plan to avoid tradethroughs and locked markets, among
other things.11 The Exchange currently
offers private routing directly to away
markets.12
The pilot, which is set to expire on
July 31, 2010, relates to fees charged by
the Exchange for both P/A and P Orders.
The Exchange currently charges $.45 per
option contract for P Orders sent to the
Exchange and $0.30 per option contract
for P/A Orders. The current pilot
program has been renewed periodically
over several years.13 Because there are
no longer any participant exchanges to
the Linkage Plan who send Linkage P or
P/A Orders, the Exchange proposes to
discontinue the pilot.
The Exchange also proposes to amend
its Fee Schedule to remove all
references to Linkage fees.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 14 in general, and furthers the
objectives of Section 6(b)(5) of the Act 15
in particular, in that it is designed to
promote just and equitable principles of
trade, 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, by
removing all references to Linkage in
the Fee Schedule and to clarify that
Linkage fees are no longer applicable.
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.
9 See
footnote 7.
footnote 7.
11 See footnote 7.
12 See Exchange Rule 1080(m).
13 See Securities Exchange Act Release Nos.
60210 (July 1, 2009), 74 FR 32989 (July 9, 2009)
(SR–Phlx–2009–53); 58144 (July 11, 2008), 73 FR
41394 (July 18, 2008) (SR–Phlx–2008–49); 56166
(July 30, 2007), 72 FR 43312 (August 3, 2007) (SR–
Phlx–2007–52); 54233 (July 27, 2006), 71 FR 44070
(August 3, 2006) (SR–Phlx–2006–44); 51257
(February 25, 2005), 70 FR 10736 (March 4, 2005)
(SR–Phlx–2005–10); 50125 (July 30, 2004), 69 FR
47479 (August 5, 2004) (SR–Phlx–2004–44); 49163
(January 30, 2004), 69 FR 5885 (February 6, 2004)
(SR–Phlx–2003–89); and 47953 (May 30, 2003), 68
FR 34027 (June 6, 2003) (SR–Phlx–2003–16).
14 15 U.S.C. 78f(b).
15 15 U.S.C. 78f(b)(5).
10 See
E:\FR\FM\09MRN1.SGM
09MRN1
10858
Federal Register / Vol. 75, No. 45 / Tuesday, March 9, 2010 / Notices
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change: (i) Does not significantly affect
the protection of investors or the public
interest; (ii) does not impose any
significant burden on competition; and
(iii) by its terms, does not become
operative for 30 days from the date on
which it was filed, 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 16 and Rule 19b–
4(f)(6) thereunder.17
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 rulecomments@sec.gov. Please include File
Number SR–Phlx–2010–22 on the
subject line.
sroberts on DSKD5P82C1PROD with NOTICES
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–Phlx–2010–22. This file
16 15
U.S.C. 78s(b)(3)(A).
17 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires the self-regulatory organization
to submit to 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
Exchange has satisfied this requirement.
VerDate Nov<24>2008
19:04 Mar 08, 2010
Jkt 220001
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 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–Phlx–2010–22 and should
be submitted on or before March 30,
2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.18
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–4913 Filed 3–8–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61627; File No. SR–
NYSEAMEX–2010–11]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change by NYSE
Amex LLC Amending NYSE Amex Rule
476 To Add a Provision for Violations
Relating To Failing to Observe High
Standards of Commercial Honor and
Just and Equitable Principles of Trade
March 2, 2010.
Pursuant to Section 19(b)(1)1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on February
CFR 200.30–3(a)(12).
U.S.C.78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
9, 2010, NYSE Amex LLC (the
‘‘Exchange’’ or ‘‘NYSE Amex’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the self-regulatory
organization. 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 Exchange proposes to amend
NYSE Amex Rule 476 to add a provision
for violations relating to failing to
observe high standards of commercial
honor and just and equitable principles
of trade. The text of the proposed rule
change is available at the Exchange, the
Commission’s Public Reference Room,
and https://www.nyse.com.
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
In this filing, NYSE Amex LLC
(‘‘NYSE Amex’’ or the ‘‘Exchange’’)
proposes to amend NYSE Amex Rule
476 to add a provision for violations
relating to failing to observe high
standards of commercial honor and just
and equitable principles of trade. The
Commission previously approved an
amendment to NYSE Amex Rule 476 to
delete subsection (a)(6), which
concerned just and equitable principles
of trade.4 The rationale for that deletion
was because NYSE Amex adopted an
equities rule—NYSE Amex Equities
Rule 2010—that provided for the same
content as the prior version of Rule
476(a)(6) and that harmonized the
Exchange rule with the New York Stock
18 17
1 15
PO 00000
Frm 00105
Fmt 4703
Sfmt 4703
4 See Securities Exchange [sic] Release No. 59975
(May 27, 2009) [sic], 74 FR 26449 (June 2, 2009)
(SR–NYSEAmex–2009–26) [sic].
E:\FR\FM\09MRN1.SGM
09MRN1
]]>Agencies
[Federal Register Volume 75, Number 45 (Tuesday, March 9, 2010)]
[Notices]
[Pages 10857-10858]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-4913]
[[Page 10857]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61617; File No. SR-Phlx-2010-22]
Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Relating to
Linkage Pilot
March 1, 2010.
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 February 24, 2010, NASDAQ OMX PHLX, Inc. (``Phlx'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. 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 discontinue its current pilot program (the
``pilot'') relating to fees applicable to Principal Acting as Agent
Orders (``P/A Orders'') \3\ and Principal Orders (``P Orders'').\4\ The
text of the proposed rule change is available on Phlx's Web site at
https://www.nasdaqtrader.com, on the Commission's Web site at https://www.sec.gov, at Phlx, and at the Commission's Public Reference Room.
---------------------------------------------------------------------------
\3\ A P/A Order is an order for the principal account of a
specialist (or equivalent entity on another participant exchange
that is authorized to represent Public Customer orders), reflecting
the terms of a related unexecuted Public Customer order for which
the specialist is acting as agent. See Exchange Rule 1088, Phase Out
of Intermarket Linkage Rules.
\4\ A Principal Order is an order for the principal account of
an Eligible Market Maker and is not a P/A Order. See Exchange Rule
1088, Phase Out of Intermarket Linkage Rules.
---------------------------------------------------------------------------
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
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to discontinue the
current pilot program related to transaction fees for P/A Orders and P
Orders sent to the Exchange via the Intermarket Option Linkage
(``Linkage'') under the former Plan for the Purpose of Creating and
Operating an Intermarket Linkage (``Linkage Plan'').\5\ The current
pilot is set to expire July 31, 2010.\6\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 60363 (July 22,
2009), 74 FR 37270 (July 28, 2009) (SR-Phlx-2009-61). Linkage was
governed by the Options Linkage Authority under the conditions set
forth under the Plan for the Purpose of Creating and Operating an
Intermarket Option Linkage approved by the Commission. The
registered U.S. options markets are linked together on a real-time
basis through a network capable of transporting orders and messages
to and from each market.
\6\ See Securities Exchange Act Release No. 60210 (July 1,
2009), 74 FR 32989 (July 9, 2009) (SR-Phlx-2009-53).
---------------------------------------------------------------------------
On June 17, 2008, the Exchange filed an executed copy of the
Options Order Protection and Locked/Crossed Market Plan (``Plan''),
joining all other approved options markets in adopting the Plan.\7\ The
Plan requires each options exchange to adopt rules implementing various
requirements specified in the Plan.\8\
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release Nos. 60405 (July 20,
2009) (National Market System Plan Relating to Options Order
Protection and Locked/Crossed Markets). The Plan is a national
market system plan proposed by the seven existing options exchanges
and approved by the Commission. See Securities Exchange Act Release
No. 59647 (March 30, 2009), 74 FR 15010 (April 2, 2009) (File No. 4-
546) (``Plan Notice'') and 60405 (July 30, 2009), 74 FR 39362
(August 6, 2009) (File No. 4-546) (``Plan Approval''). The seven
options exchanges are: Chicago Board Options Exchange, Incorporated
(``CBOE''); International Securities Exchange LLC (``ISE''); NASDAQ
OMX BX, Inc. (``BOX''); The NASDAQ Stock Market LLC (``Nasdaq'');
NYSE Amex LLC (``NYSE Amex''); NYSE Arca, Inc. (``NYSE Arca''); and
Phlx (each exchange individually a ``Participant'' and, together,
the ``Participating Options Exchanges'').
\8\ See Securities Exchange Act Release No. 60363 (July 22,
2009), 74 FR 37270 (July 28, 2009) (SR-Phlx-2009-61). Linkage was
governed by the Options Linkage Authority under the conditions set
forth under the Plan for the Purpose of Creating and Operating an
Intermarket Option Linkage approved by the Commission. The
registered U.S. options markets are linked together on a real-time
basis through a network capable of transporting orders and messages
to and from each market.
---------------------------------------------------------------------------
The Plan replaces the Linkage Plan. The Linkage Plan required
Participating Options Exchanges to operate a stand-alone system or
``Linkage'' for sending order-flow between exchanges to limit trade-
throughs.\9\ The Options Clearing Corporation (``OCC'') operated the
Linkage system (the ``System'').\10\ The Exchange adopted various new
rules in connection with the Plan to avoid trade-throughs and locked
markets, among other things.\11\ The Exchange currently offers private
routing directly to away markets.\12\
---------------------------------------------------------------------------
\9\ See footnote 7.
\10\ See footnote 7.
\11\ See footnote 7.
\12\ See Exchange Rule 1080(m).
---------------------------------------------------------------------------
The pilot, which is set to expire on July 31, 2010, relates to fees
charged by the Exchange for both P/A and P Orders. The Exchange
currently charges $.45 per option contract for P Orders sent to the
Exchange and $0.30 per option contract for P/A Orders. The current
pilot program has been renewed periodically over several years.\13\
Because there are no longer any participant exchanges to the Linkage
Plan who send Linkage P or P/A Orders, the Exchange proposes to
discontinue the pilot.
---------------------------------------------------------------------------
\13\ See Securities Exchange Act Release Nos. 60210 (July 1,
2009), 74 FR 32989 (July 9, 2009) (SR-Phlx-2009-53); 58144 (July 11,
2008), 73 FR 41394 (July 18, 2008) (SR-Phlx-2008-49); 56166 (July
30, 2007), 72 FR 43312 (August 3, 2007) (SR-Phlx-2007-52); 54233
(July 27, 2006), 71 FR 44070 (August 3, 2006) (SR-Phlx-2006-44);
51257 (February 25, 2005), 70 FR 10736 (March 4, 2005) (SR-Phlx-
2005-10); 50125 (July 30, 2004), 69 FR 47479 (August 5, 2004) (SR-
Phlx-2004-44); 49163 (January 30, 2004), 69 FR 5885 (February 6,
2004) (SR-Phlx-2003-89); and 47953 (May 30, 2003), 68 FR 34027 (June
6, 2003) (SR-Phlx-2003-16).
---------------------------------------------------------------------------
The Exchange also proposes to amend its Fee Schedule to remove all
references to Linkage fees.
2. Statutory Basis
The Exchange believes that its proposal is consistent with Section
6(b) of the Act \14\ in general, and furthers the objectives of Section
6(b)(5) of the Act \15\ in particular, in that it is designed to
promote just and equitable principles of trade, 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, by removing all references to Linkage in the Fee Schedule and
to clarify that Linkage fees are no longer applicable.
---------------------------------------------------------------------------
\14\ 15 U.S.C. 78f(b).
\15\ 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.
[[Page 10858]]
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change: (i) Does not
significantly affect the protection of investors or the public
interest; (ii) does not impose any significant burden on competition;
and (iii) by its terms, does not become operative for 30 days from the
date on which it was filed, 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 \16\ and Rule 19b-4(f)(6) thereunder.\17\
---------------------------------------------------------------------------
\16\ 15 U.S.C. 78s(b)(3)(A).
\17\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the self-regulatory organization to submit to 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 Exchange has satisfied this requirement.
---------------------------------------------------------------------------
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-Phlx-2010-22 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-Phlx-2010-22. 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 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-
Phlx-2010-22 and should be submitted on or before March 30, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
---------------------------------------------------------------------------
\18\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-4913 Filed 3-8-10; 8:45 am]
BILLING CODE 8011-01-P
