Sunshine Act Meeting, 18247-18248 [2010-8324]

Download as PDF Federal Register / Vol. 75, No. 68 / Friday, April 9, 2010 / Notices amendment, and to grant temporary effectiveness to the proposed amendment through August 9, 2010. I. Description and Purpose of the Amendment The current participants to the JointSRO Plan are the American Stock Exchange LLC (n/k/a NYSE Amex, Inc.), BATS Exchange, Inc., Boston Stock Exchange, Inc. (n/k/a NASDAQ OMX BX, Inc.), Chicago Board Options Exchange, Incorporated, Chicago Stock Exchange, Inc., Cincinnati Stock Exchange, Inc. (n/k/a National Stock ExchangeSM), International Securities Exchange, LLC, The NASDAQ Stock Market LLC, National Association of Securities Dealers, Inc. (n/k/a Financial Industry Regulatory Authority, Inc.), New York Stock Exchange, Inc. (n/k/a New York Stock Exchange LLC), Pacific Exchange, Inc. (n/k/a NYSE Arca, Inc.), and Philadelphia Stock Exchange, Inc. (n/k/a NASDAQ OMX PHLX, Inc.). The proposed amendment would add EDGA and EDGX as participants to the JointSRO Plan. Each of EDGA and EDGX has submitted a signed copy of the JointSRO Plan to the Commission in accordance with the procedures set forth in the Plan regarding new participants. Section III(b) of the JointSRO Plan provides that a national securities exchange or national securities association may become a party to the Plan by: (i) executing a copy of the Plan, as then in effect (with the only changes being the addition of the new participant’s name in Section 11(a) of the Plan and the new participant’s single-digit code in Section VI(a)(1) of the Plan) and (ii) submitting such executed plan to the Commission for approval. srobinson on DSKHWCL6B1PROD with NOTICES II. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed JointSRO Plan amendment 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 4–518 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. VerDate Nov<24>2008 17:07 Apr 08, 2010 Jkt 220001 All submissions should refer to File Number 4–518. 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 plan amendment that are filed with the Commission, and all written communications relating to the proposed plan amendment 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 submission 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 4–518 and should be submitted on or before May 10, 2010. III. Commission’s Findings and Order Granting Accelerated Approval of Proposed Plan Amendment The Commission finds that the proposed Joint-SRO Plan amendment is consistent with the requirements of the Act and the rules and regulations thereunder.4 Specifically, the Commission believes that the proposed amendment, which permits EDGA and EDGX to become participants to the Joint-SRO Plan, is consistent with the requirements of Section 11A of the Act, and Rule 608 of Regulation NMS. The Plan establishes appropriate procedures for market centers to follow in making their monthly reports required pursuant to Rule 605 of Regulation NMS, available to the public in a uniform, readily accessible, and usable electronic format. The proposed amendment to include EDGA and EDGX as participants in the Joint-SRO Plan will contribute to the maintenance of fair and orderly markets and remove impediments to 4 In approving this proposed Joint-SRO Plan amendment, the Commission has considered the proposal’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). PO 00000 Frm 00104 Fmt 4703 Sfmt 4703 18247 and perfect the mechanisms of a national market system by facilitating the uniform public disclosure of order execution information by all market centers. The Commission finds good cause to grant temporary effectiveness to the proposed Joint-SRO Plan amendment, for 120 days, until August 9, 2010. The Commission believes that it is necessary and appropriate in the public interest, for the maintenance of fair and orderly markets, to remove impediments to, and perfect mechanisms of, a national market system to allow EDGA and EDGX to become participants in the Joint-SRO Plan. On March 12, 2010, the Commission granted the application of EDGA and EDGX for registration as national securities exchanges.5 One of the conditions to operations of EDGA and EDGX is participation in national market system plans, including the Joint-SRO Plan.6 As a Plan participant, each of EDGA and EDGX would have timely information on the Plan procedures as they are formulated and modified by the participants. The Commission finds, therefore, that granting temporary effectiveness of the proposed Joint-SRO Plan amendment is appropriate and consistent with Section 11A of the Act.7 IV. Conclusion It is therefore ordered, pursuant to Section 11A of the Act 8 and Rule 608 of Regulation NMS,9 that the proposed Joint-SRO Plan amendment is approved for 120 days, through August 9, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–8152 Filed 4–8–10; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold an Open Meeting on April 14, 2010 at 10 a.m., in the Auditorium, Room L–002. 5 See Securities Exchange Act Release No. 61698 (March 12, 2010), 75 FR 13151 (March 22, 2010). 6 Id. 7 15 U.S.C. 78k–1. 8 15 U.S.C. 78k–1. 9 17 CFR 242.608. 10 17 CFR 200.30–3(a)(29). E:\FR\FM\09APN1.SGM 09APN1 18248 Federal Register / Vol. 75, No. 68 / Friday, April 9, 2010 / Notices The subject matter of the Open Meeting will be: Item 1: The Commission will consider whether to propose a large trader reporting requirement, pursuant to Section 13(h) of the Securities Exchange Act of 1934, which would require large traders to identify themselves to the Commission and require broker-dealers to maintain certain related transaction records. Item 2: The Commission will consider whether to propose rule amendments regarding (a) prohibiting unfairly discriminatory terms that inhibit efficient access to quotations in a listed option on exchanges, and (b) placing limits on fees for the execution of an order against any quotation in an options series that is the best bid or best offer of an exchange. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: April 7, 2010. Elizabeth M. Murphy, Secretary. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION srobinson on DSKHWCL6B1PROD with NOTICES Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Public Law 94–409, that the Securities and Exchange Commission will hold a Closed Meeting on Wednesday, April 14, 2010 at 3 p.m. Commissioners, Counsel to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the Closed Meeting. Certain staff members who have an interest in the matters also may be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR 200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Walter, as duty officer, voted to consider the items listed for the Closed Meeting in a closed session. Jkt 220001 Dated: April 6, 2010. Elizabeth M. Murphy, Secretary. [FR Doc. 2010–8209 Filed 4–7–10; 11:15 am] A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change BILLING CODE 8011–01–P 1. Purpose SECURITIES AND EXCHANGE COMMISSION [Release No. 34–61831; File No. SR– NYSEArca–2010–20] April 2, 2010. Sunshine Act Meeting 17:07 Apr 08, 2010 Web site at https://www.nyse.com, at the Exchange’s principal office and at the Commission’s Public Reference Room. Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of Proposed Rule Change by NYSE Arca, Inc. Amending Commentary .05 to Rule 6.4 Series of Options for Trading [FR Doc. 2010–8324 Filed 4–7–10; 4:15 pm] VerDate Nov<24>2008 The subject matter of the Closed Meeting scheduled for Wednesday, April 14, 2010 will be: Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings; An adjudicatory matter; Litigation matters; and Other matters relating to enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. 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 March 31, 2010 NYSE Arca, Inc. (‘‘NYSE Arca’’ or the ‘‘Exchange’’) 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 Exchange. 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 Rule 6.4–Series of Options for Trading by adopting new provisions governing strike price intervals. The text of the proposed rule change is attached as Exhibit 5 to the 19b–4 form. A copy of this filing is available on the Exchange’s 1 15 2 17 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00105 Fmt 4703 Sfmt 4703 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. The purpose of the proposed rule change is to (i) add a provision to Rule 6.4 codifying the strike price intervals presently used by NYSE Arca for listed options, and (ii) create a provision that will allow for $5 strike price intervals of options on Exchange Traded Funds Shares (‘‘ETFs’’) where the strike price is over $200. Options traded on NYSE Arca are listed at strike price intervals of $2.50 or greater where the strike price is less than $25.00, $5.00 or greater where the strike price is greater than $25.00, and $10.00 or greater where the strike price is greater than $200.00. This listing convention for strike price intervals is the same as is presently in place at other U.S. option exchanges.3 The Exchange now proposes to adopt new Rule 6.4(f) in order to codify these standards that are presently in use at NYSE Arca. Commentary .05 to Rule 6.4–Series of Options Open for Trading states that strike price intervals of options on Exchanged-Traded Fund Shares will be $1 or greater where the strike price of the underlying asset is $200 or less. Most underlying ETF options trade for less than $200 per share; therefore most series are priced at $1 strike price intervals. However, some higher priced ETFs do have listed options series with strike prices over $200.4 NYSE Arca does not have a provision that allows ETF options to list and trade at $5 strike 3 See International Securities Exchange (‘‘ISE’’) Rule 504(d) and NYSE Amex Rule 903 Commentary .05. 4 As an example, ETF options trading under the symbols ILF, FXI, MDY and EEM all have listed strike prices greater than $200. E:\FR\FM\09APN1.SGM 09APN1

Agencies

[Federal Register Volume 75, Number 68 (Friday, April 9, 2010)]
[Notices]
[Pages 18247-18248]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-8324]


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

SECURITIES AND EXCHANGE COMMISSION


Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the 
Government in the Sunshine Act, Public Law 94-409, that the Securities 
and Exchange Commission will hold an Open Meeting on April 14, 2010 at 
10 a.m., in the Auditorium, Room L-002.

[[Page 18248]]

    The subject matter of the Open Meeting will be:

Item 1: The Commission will consider whether to propose a large trader 
reporting requirement, pursuant to Section 13(h) of the Securities 
Exchange Act of 1934, which would require large traders to identify 
themselves to the Commission and require broker-dealers to maintain 
certain related transaction records.
Item 2: The Commission will consider whether to propose rule amendments 
regarding (a) prohibiting unfairly discriminatory terms that inhibit 
efficient access to quotations in a listed option on exchanges, and (b) 
placing limits on fees for the execution of an order against any 
quotation in an options series that is the best bid or best offer of an 
exchange.

    At times, changes in Commission priorities require alterations in 
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have 
been added, deleted or postponed, please contact:
    The Office of the Secretary at (202) 551-5400.

    Dated: April 7, 2010.
Elizabeth M. Murphy,
Secretary.
 [FR Doc. 2010-8324 Filed 4-7-10; 4:15 pm]
BILLING CODE 8011-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.