Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Permanent Approval of the Dividend, Merger and Short Stock Interest Strategies Fee Cap Pilot Program, 12588-12590 [2010-5658]
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<![CDATA[
12588
Federal Register / Vol. 75, No. 50 / Tuesday, March 16, 2010 / Notices
display of customer limit orders. FINRA
believes that the proposed restrictions
on sub-penny quoting will promote
greater price transparency and
consistency, reduce the potential harms
associated with sub-penny quoting in
OTC equity securities and improve the
depth and liquidity of this market.
FINRA believes that locked and
crossed markets can cause confusion
among investors concerning trading
interest in a stock and that restricting
the practice of submitting locking or
crossing quotations will enhance the
usefulness of quotation information in
the over-the-counter market, facilitate
more fair and orderly markets and
support market efficiency.
Where wide disparities in access fees
are permitted, the prices of quotations
are less useful and accurate. Therefore,
FINRA believes that a cap on access fees
would improve the usefulness and
accuracy of quotations and address the
potential distortions caused by
substantial, disparate fees. Finally,
FINRA believes that applying limit
order display requirements to OTC
Equity Securities would improve
transparency in the OTC equity market
and advance the goal of the public
availability of quotation information, as
well as fair competition, market
efficiency, best execution and
disintermediation.
FINRA believes that the proposed
extension of the specified Regulation
NMS protections to quoting and trading
in OTC Equity Securities will prevent
fraudulent and manipulative acts and
practices in this market, promote just
and equitable principles of trade, and
protect investors and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
FINRA does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
sroberts on DSKD5P82C1PROD with NOTICES
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
Written comments on the proposed
rule change were solicited by the
Commission in response to the
publication of SR–FINRA–2009–054,
which proposed new rules to: (1)
Restrict sub-penny quoting; (2) restrict
locked and crossed markets; (3)
implement a cap on access fees; and (4)
require the display of customer limit
orders.35 The Commission received
35 See
Proposing Release.
VerDate Nov<24>2008
16:33 Mar 15, 2010
twelve comment letters.36 The
comments are summarized above.
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 such 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
Number SR–FINRA–2009–054 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–FINRA–2009–054. 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
36 See
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supra note 4.
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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
FINRA. 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 publicly available. All
submissions should refer to File
Number SR–FINRA–2009–054 and
should be submitted on or before April
6, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.37
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–5648 Filed 3–15–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–61674; File No. SR–CBOE–
2010–025]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Permanent
Approval of the Dividend, Merger and
Short Stock Interest Strategies Fee
Cap Pilot Program
March 9, 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 March 1,
2010, Chicago Board Options Exchange,
Incorporated (‘‘CBOE’’ 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
Chicago Board Options Exchange,
Incorporated (‘‘CBOE’’ or ‘‘Exchange’’)
37 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
1 15
E:\FR\FM\16MRN1.SGM
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Federal Register / Vol. 75, No. 50 / Tuesday, March 16, 2010 / Notices
proposes to amend its Fees Schedule to
make permanent its dividend, merger
and short stock interest strategies fee
cap program. 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 those
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
The Exchange proposes to make
permanent the pilot program for caps on
market-maker, firm, and broker-dealer
transaction fees associated with
dividend, merger and short stock
interest strategies, as described in
Footnote 13 of the CBOE Fees Schedule
(‘‘Strategy Fee Cap’’). Under this
program, market-maker, firm and
broker-dealer transaction fees are
capped at $1,000 for all (i) dividend
strategies,4 (ii) merger strategies 5 and
(iii) short stock interest strategies 6
executed on the same trading day in the
same options class. In addition, such
transaction fees for these strategies are
further capped at $25,000 per month per
initiating member or firm. The Strategy
Fee Cap pilot program is due to expire
on March 1, 2010.
Other than requesting permanent
approval of the pilot program, no other
sroberts on DSKD5P82C1PROD with NOTICES
4A
dividend strategy is defined as transactions
done to achieve a dividend arbitrage involving the
purchase, sale and exercise of in-the-money options
of the same class, executed prior to the date on
which the underlying stock goes ex-dividend.
5 A merger strategy is defined as transactions
done to achieve a merger arbitrage involving the
purchase, sale and exercise of options of the same
class and expiration date, each executed prior to the
date on which shareholders of record are required
to elect their respective form of consideration, i.e.,
cash or stock.
6 A short stock interest strategy is defined as
transactions done to achieve a short stock interest
arbitrage involving the purchase, sale and exercise
of in-the-money options of the same class.
VerDate Nov<24>2008
16:33 Mar 15, 2010
Jkt 220001
changes to the Strategy Fee Cap are
being proposed at this time.7
(b) Statutory Basis
The Exchange believes the proposed
rule change is consistent with Section
6(b) of the Securities Exchange Act of
1934 (‘‘Act’’),8 in general, and furthers
the objectives of Section 6(b)(4) 9 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 Exchange
believes permanent approval of the
Strategy Fee Cap pilot program would
benefit market participants who trade
these strategies by lowering their fees
and allow the Exchange to remain
competitive with other exchanges that
offer similar fee cap programs.
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 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
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 10 and subparagraph (f)(2) of
Rule 19b–4 11 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.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
7 The Strategy Fee Cap pilot program is similar to
fee cap pilot programs at other exchanges that were
recently made permanent. See Securities Exchange
Act Release No. 59566 (March 12, 2009), 74 FR
11793 (March 19, 2009) (SR–PHLX–2009–18); and
Securities Exchange Act Release No. 59478
(February 27, 2009), 74 FR 9857 (March 6, 2009)
(SR–NYSEALTR–2009–19).
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(4).
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(2).
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12589
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–CBOE–2010–025 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–CBOE–2010–025. 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 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
publicly available. All submissions
should refer to File Number SR–CBOE–
2010–025 and should be submitted on
or before April 6, 2010.
E:\FR\FM\16MRN1.SGM
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12590
Federal Register / Vol. 75, No. 50 / Tuesday, March 16, 2010 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
premises, equipment that generally is
used for the transmission of order and
execution messages and market data
information between co-locaters and the
Exchange’s trading facilities or other
destinations. Charges for space are
[FR Doc. 2010–5658 Filed 3–15–10; 8:45 am]
based upon the number of ‘‘U’’ (a
BILLING CODE 8011–01–P
commonly accepted unit of
measurement of data center space) of
SECURITIES AND EXCHANGE
shelf space used to store the equipment.
COMMISSION
Additionally, CHX charges a co-location
fee for the network connections
[Release No. 34–61680; File No. SR–CHX–
equipment used to connect to the CHX
2009–18]
network. According to CHX, these
charges are intended to offset, at least in
Self-Regulatory Organizations; The
part, the costs borne by the Exchange for
Chicago Stock Exchange, Inc.; Order
Approving a Proposed Rule Change To rent, utilities and maintenance of the
space occupied by the co-located
Amend Its Co-Location Fees
equipment.6 In its filing, CHX proposes
March 10, 2010.
to increase the periodic charge for colocation of network connections
I. Introduction
equipment from $50 per month to $100
On December 22, 2009, the Chicago
per month.
Stock Exchange, Inc. (‘‘CHX’’ or
According to CHX, co-location
‘‘Exchange’’) filed with the Securities
services are offered on an equal and
and Exchange Commission
non-discriminatory basis. Although the
(‘‘Commission’’), pursuant to Section
Exchange acknowledges that those who
19(b)(1) of the Securities Exchange Act
co-locate would normally expect lower
of 1934 (‘‘Act’’) 1 and Rule 19b–4
latencies and faster message turnaround
2 a proposed rule change
thereunder,
times because of the physical proximity
relating to charges for co-location
services. The proposed rule change was of their equipment to CHX systems, the
Exchange represents that, as far as
published for comment in the Federal
possible, it has architected its systems to
3 The
Register on January 14, 2010.
eliminate or reduce differences between
Commission received no comment
co-located users and other co-located
letters on the proposal. This order
users, and between co-located users and
approves the proposed rule change.
non co-located users. Further, CHX
II. Description
notes that Participants that enter orders
As described more fully in the Notice, through co-located equipment access its
CHX states that it makes space available network via the same common
connections or gateway as Participants
at its data center for the storage of
that do not co-locate.7 Finally, the
Participants’ and non-Participants’
Exchange represents that it has
computer hardware and the
sufficient space at its data center to
maintenance of connections equipment
accommodate all requests to co-locate
to the CHX network, services generally
referred to as ‘‘co-location.’’ 4 Since 2004, computer equipment and that it will
the Exchange has charged fees for its co- continue to do so for the foreseeable
future. If for some reason the Exchange’s
location services.5 These fees cover the
capacity were exceeded, CHX represents
physical space associated with cothat it would file a rule proposal with
locating computer hardware and
the Commission seeking to adopt a fair
network equipment on the Exchange’s
and neutral policy to accommodate
12 17 CFR 200.30–3(a)(12).
requests to co-locate.
sroberts on DSKD5P82C1PROD with NOTICES
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 61304
(January 6, 2010), 75 FR 2175 (‘‘Notice’’).
4 A ‘‘Participant’’ means any Participant Firm that
holds a valid Trading Permit and any person
associated with a Participant Firm who is registered
with the Exchange under Article VI as a floor
broker, co-specialist or market maker. See CHX
Article 1, Rule 1(s).
5 See Securities Exchange Act Release No. 49728
(May 19, 2004), 69 FR 29988 (May 26, 2004) (SR–
CHX–2004–15) (establishing fees for co-located
computer hardware and network equipment); see
also Securities Exchange Act Release No. 54657
(October 26, 2006), 71 FR 64590 (November 4, 2006)
(SR–CHX–2006–29) (broadening the scope of such
fees).
VerDate Nov<24>2008
16:33 Mar 15, 2010
Jkt 220001
III. Discussion and Commission’s
Findings
After careful review, the Commission
finds that the proposed rule change is
consistent with the requirements of the
Act and the rules and regulations
thereunder applicable to a national
6 The
CHX does not separately charge for the
electricity used to power the Participant’s
equipment, or rent and other utilities associated
with the space.
7 This description applies equally to both
inbound messages (e.g., new orders) and outbound
messages (e.g., execution reports).
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Fmt 4703
Sfmt 4703
securities exchange.8 In particular, the
Commission finds that the proposed
rule change is consistent with Section
6(b)(4) of the Act,9 which requires that
the rules of a national securities
exchange provide for the equitable
allocation of reasonable dues, fees and
other charges among its members and
issuers and other persons using its
facilities, and with Section 6(b)(5) of the
Act,10 which requires, among other
things, that that the rules of a national
securities exchange be 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, and
not be designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers.
The Commission believes that the
proposed co-location fees are reasonable
and equitably allocated insofar as they
are designed to offset the Exchange’s
expenses involved in providing colocation services and are applied on the
same terms to similarly-situated market
participants. In addition, the
Commission believes that the colocation services described in the
proposed rule change are not unfairly
discriminatory because: (1) Co-location
services are offered to all interested
market participants who request them
and pay the appropriate fees; (2) as
represented by CHX, the Exchange has
architected its systems so as to, as much
as possible, reduce or eliminate
differences among users of its systems,
whether co-located or not; and (3) the
Exchange has stated that it has sufficient
space to accommodate new co-locaters
and would file a proposed rule change
to adopt a fair and neutral policy to
allocate space should it become limited
in the future.
IV. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,11 that the
proposed rule change (SR–CHX–2009–
18) be, and hereby is, approved.
8 In approving this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
9 15 U.S.C. 78f(b)(4).
10 15 U.S.C. 78f(b)(5).
11 15 U.S.C. 78s(b)(2).
E:\FR\FM\16MRN1.SGM
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]]>Agencies
[Federal Register Volume 75, Number 50 (Tuesday, March 16, 2010)]
[Notices]
[Pages 12588-12590]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-5658]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61674; File No. SR-CBOE-2010-025]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Relating to Permanent Approval of the Dividend, Merger and
Short Stock Interest Strategies Fee Cap Pilot Program
March 9, 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 March 1, 2010, Chicago Board Options Exchange,
Incorporated (``CBOE'' 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\ 15 U.S.C. 78a.
\3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Chicago Board Options Exchange, Incorporated (``CBOE'' or
``Exchange'')
[[Page 12589]]
proposes to amend its Fees Schedule to make permanent its dividend,
merger and short stock interest strategies fee cap program. 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 those 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
The Exchange proposes to make permanent the pilot program for caps
on market-maker, firm, and broker-dealer transaction fees associated
with dividend, merger and short stock interest strategies, as described
in Footnote 13 of the CBOE Fees Schedule (``Strategy Fee Cap''). Under
this program, market-maker, firm and broker-dealer transaction fees are
capped at $1,000 for all (i) dividend strategies,\4\ (ii) merger
strategies \5\ and (iii) short stock interest strategies \6\ executed
on the same trading day in the same options class. In addition, such
transaction fees for these strategies are further capped at $25,000 per
month per initiating member or firm. The Strategy Fee Cap pilot program
is due to expire on March 1, 2010.
---------------------------------------------------------------------------
\4\ A dividend strategy is defined as transactions done to
achieve a dividend arbitrage involving the purchase, sale and
exercise of in-the-money options of the same class, executed prior
to the date on which the underlying stock goes ex-dividend.
\5\ A merger strategy is defined as transactions done to achieve
a merger arbitrage involving the purchase, sale and exercise of
options of the same class and expiration date, each executed prior
to the date on which shareholders of record are required to elect
their respective form of consideration, i.e., cash or stock.
\6\ A short stock interest strategy is defined as transactions
done to achieve a short stock interest arbitrage involving the
purchase, sale and exercise of in-the-money options of the same
class.
---------------------------------------------------------------------------
Other than requesting permanent approval of the pilot program, no
other changes to the Strategy Fee Cap are being proposed at this
time.\7\
---------------------------------------------------------------------------
\7\ The Strategy Fee Cap pilot program is similar to fee cap
pilot programs at other exchanges that were recently made permanent.
See Securities Exchange Act Release No. 59566 (March 12, 2009), 74
FR 11793 (March 19, 2009) (SR-PHLX-2009-18); and Securities Exchange
Act Release No. 59478 (February 27, 2009), 74 FR 9857 (March 6,
2009) (SR-NYSEALTR-2009-19).
---------------------------------------------------------------------------
(b) Statutory Basis
The Exchange believes the proposed rule change is consistent with
Section 6(b) of the Securities Exchange Act of 1934 (``Act''),\8\ in
general, and furthers the objectives of Section 6(b)(4) \9\ 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 Exchange believes
permanent approval of the Strategy Fee Cap pilot program would benefit
market participants who trade these strategies by lowering their fees
and allow the Exchange to remain competitive with other exchanges that
offer similar fee cap programs.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 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 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
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \10\ and subparagraph (f)(2) of Rule 19b-4 \11\
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.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 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-2010-025 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-CBOE-2010-025. 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 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 publicly available. All
submissions should refer to File Number SR-CBOE-2010-025 and should be
submitted on or before April 6, 2010.
[[Page 12590]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-5658 Filed 3-15-10; 8:45 am]
BILLING CODE 8011-01-P
