Self-Regulatory Organizations; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change by The NASDAQ Stock Market LLC To Clarify the Applicable Time Period of Trading Pauses on Trading Days With an Early Scheduled Close, 36128-36130 [2010-15247]
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emcdonald on DSK2BSOYB1PROD with NOTICES
36128
Federal Register / Vol. 75, No. 121 / Thursday, June 24, 2010 / Notices
Act of 1974 (ERISA) contains three
separate sets of provisions—in Title I
(Labor provisions), Title II (Internal
Revenue Code provisions), and Title IV
(PBGC provisions)—requiring
administrators of employee benefit
pension and welfare plans (collectively
referred to as employee benefit plans) to
file returns or reports annually with the
federal government.
Since enactment of ERISA, PBGC, the
Department of Labor (DOL), and the
Internal Revenue Service (IRS)
(collectively, the Agencies), have
worked together (under DOL’s
leadership) to produce the Form 5500
Annual Return/Report, through which
the regulated public can satisfy the
combined reporting/filing requirements
applicable to employee benefit plans.
The Form 5500 Series is the primary
source of information concerning the
operation, funding, assets and
investments of pension and other
employee benefit plans. In addition to
being an important disclosure document
for plan participants and beneficiaries,
the Form 5500 is a compliance and
research tool for the Agencies, and a
source of information for use by other
federal agencies, Congress, and the
private sector in assessing employee
benefit, tax, and economic trends and
policies.
On November 16, 2007, the Agencies
adopted revisions to the Form 5500
Annual Return/Report in order to
update and streamline the annual
reporting process in conjunction with
establishing a wholly electronic
processing system for the receipt of the
Form 5500 Annual Return/Reports and
to conform the forms and instructions to
the provisions of the Pension Protection
Act of 2006 (PPA).
OMB has approved PBGC’s annual
reporting and disclosure collection of
information (2008–2010 Forms and
Instructions) under control number
1212–0057 (expires September 30,
2010). PBGC intends to request that
OMB extend approval of this collection
of information for three years, without
change. An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless it displays a currently valid OMB
control number.
PBGC estimates that it will receive
30,300 Form 5500 and Form 5500–SF
filings per year under this collection of
information. PBGC further estimates
that the total annual burden of this
collection of information is 1,200 hours
and $1,250,000.
PBGC is soliciting public comments
to—
• Evaluate whether the proposed
collection of information is necessary
VerDate Mar<15>2010
16:47 Jun 23, 2010
Jkt 220001
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility;
• Evaluate the accuracy of the
agency’s estimate of the burden of the
proposed collection of information,
including the validity of the
methodologies and assumptions used;
• Enhance the quality, utility, and
clarity of the information to be
collected; and
• Minimize the burden of the
collection of information on those who
are to respond, including through the
use of appropriate automated,
electronic, mechanical, or other
technological collection techniques or
other forms of information technology.
Issued in Washington, DC, this 21st day of
June 2010.
John H. Hanley,
Director, Legislative and Regulatory
Department, Pension Benefit Guaranty
Corporation.
[FR Doc. 2010–15339 Filed 6–23–10; 8:45 am]
BILLING CODE 7709–01–P
SECURITIES AND EXCHANGE
COMMISSION
[File No. 500–1]
Green Energy Resources, Inc.; Order
of Suspension of Trading
June 22, 2010.
It appears to the Securities and
Exchange Commission that there is a
lack of current and accurate information
concerning the securities of Green
Energy Resources, Inc. (‘‘Green Energy’’)
because of questions regarding the
accuracy of statements by Green Energy
in press releases concerning, among
other things, the company’s
involvement in the Gulf of Mexico oil
spill cleanup effort.
The Commission is of the opinion that
the public interest and the protection of
investors require a suspension of trading
in the securities of Green Energy.
Therefore, it is ordered, pursuant to
Section 12(k) of the Securities Exchange
Act of 1934, that trading in the
securities of the above-listed company is
suspended for the period from 9:30 a.m.
EDT June 22, 2010 through 11:59 p.m.
EDT, on July 6, 2010.
By the Commission.
Elizabeth M. Murphy,
Secretary.
Fmt 4703
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of a Proposed Rule Change by The
NASDAQ Stock Market LLC To Clarify
the Applicable Time Period of Trading
Pauses on Trading Days With an Early
Scheduled Close
June 17, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on June 14,
2010, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Exchange has
designated the proposed rule change as
constituting a non-controversial rule
change under Rule 19b-4(f)(6) under the
Act,3 which renders the proposal
effective upon filing with the
Commission. 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 the Substance
of the Proposed Rule Change
The Exchange is filing with the
Commission a proposed rule change to
clarify the applicable time period of
trading pauses on trading days with an
early scheduled close.
The text of the proposed rule change
is below. Proposed new language is
underlined and proposed deletions are
in brackets.4
*
*
*
*
*
4120. Trading Halts
(a) Authority To Initiate Trading Halts
or Pauses
In circumstances in which Nasdaq
deems it necessary to protect investors
and the public interest, Nasdaq,
pursuant to the procedures set forth in
paragraph (c):
(1)–(10) No Change.
(11) shall, between 9:45 a.m. and 3:35
p.m., or in the case of an early
scheduled close, 25 minutes before the
close of trading, immediately pause
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 17 CFR 240.19b–4(f)(6).
4 Changes are marked to the rule text that appears
in the electronic manual of NASDAQ found at
https://nasdaqomx.cchwallstreet.com.
2 17
BILLING CODE 8010–01–P
Frm 00071
[Release No. 34–62314; File No. SR–
NASDAQ–2010–072]
1 15
[FR Doc. 2010–15425 Filed 6–22–10; 4:15 pm]
PO 00000
SECURITIES AND EXCHANGE
COMMISSION
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24JNN1
Federal Register / Vol. 75, No. 121 / Thursday, June 24, 2010 / Notices
trading for 5 minutes in any Nasdaqlisted security when the price of such
security moves 10 percent or more
within a 5-minute period. At the end of
the trading pause, Nasdaq will re-open
the security using the Halt Cross process
set forth in Nasdaq Rule 4753. In the
event of a significant imbalance at the
end of a trading pause, Nasdaq may
delay the re-opening of a security.
Nasdaq will issue a notification if it
cannot resume trading for a reason other
than a significant imbalance.
Price moves under this paragraph will
be calculated by changes in each
consolidated last-sale price
disseminated by a network processor
over a five minute rolling period
measured continuously. Only regular
way in-sequence transactions qualify for
use in calculations of price moves.
Nasdaq can exclude a transaction price
from use if it concludes that the
transaction price resulted from an
erroneous trade.
If a trading pause is triggered under
this paragraph, Nasdaq shall
immediately notify the single plan
processor responsible for consolidation
of information for the security pursuant
to Rule 603 of Regulation NMS under
the Securities Exchange Act of 1934.
If a primary listing market issues an
individual stock trading pause, Nasdaq
will pause trading in that security until
trading has resumed on the primary
listing market or notice has been
received from the primary listing market
that trading may resume. If the primary
listing market does not reopen within 10
minutes of notification of a trading
pause, Nasdaq may resume trading the
security.
The provisions of this paragraph shall
only apply to securities in the Standard
& Poor’s 500 Index.
The provisions of this paragraph shall
be in effect during a pilot set to end on
December 10, 2010.
(b)–(c) No Change.
*
*
*
*
*
(b) Not applicable.
(c) Not applicable.
emcdonald on DSK2BSOYB1PROD with NOTICES
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
Exchange 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. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
VerDate Mar<15>2010
16:47 Jun 23, 2010
Jkt 220001
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
1. Purpose
Nasdaq proposes to clarify the
applicable time period of trading pauses
on trading days with an early scheduled
close. Under the proposal, trading
pauses on days with an early scheduled
close would be initiated no later than 25
minutes before that close. On trading
days with an early scheduled close, the
proposal will ensure a minimum pausefree time period before the close exactly
the same as that applicable on trading
days with a regular 4 p.m. close.
2. Statutory Basis
NASDAQ believes that the proposed
rule change is consistent with the
provisions of Section 6 of the Act,5 in
general, and with Sections 6(b)(5) of the
Act,6 in particular, in that the proposal
is designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
regulating, clearing, settling, processing
information with respect to, and
facilitating transactions in securities, to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system, and, in
general, to protect investors and the
public interest. The Exchange believes
that the proposed rule meets these
requirements in that it promotes
uniformity regarding pause periods on
all trading days.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange 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.
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 neither solicited nor
received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
5 15
6 15
PO 00000
U.S.C. 78f.
U.S.C. 78f(b)(5).
Frm 00072
Fmt 4703
Sfmt 4703
36129
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 7 and Rule 19b–
4(f)(6) thereunder.8 The Exchange has
asked the Commission to waive the 30day operative delay so that the proposal
may become operative upon filing. The
Commission notes that the proposed
rule change clarifies how the Exchange
handles Trading Pauses in the case of an
early scheduled closing of the Exchange
which is the same way the other listing
markets will handle Trading Pauses
during an early scheduled closing, and
how indications will be published
during all Trading Pauses. The proposed
rule change does not raise any new
substantive issues. For these reasons,
the Commission believes that the waiver
of the 30-day operative delay is
consistent with the protection of
investors and the public interest.9
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–NASDAQ–2010–072 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.
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
9 For purposes only of waiving the 30-day
operative delay of this proposal, the Commission
has considered the proposed rule’s impact on
efficiency, competition and capital formation. 15
U.S.C. 78c(f).
8 17
E:\FR\FM\24JNN1.SGM
24JNN1
36130
Federal Register / Vol. 75, No. 121 / Thursday, June 24, 2010 / Notices
All submissions should refer to File
Number SR–NASDAQ–2010–072. 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 NASDAQ. 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–NASDAQ–2010–072 and
should be submitted on or before July
15, 2010.
For the Commission, by the Division of
Trading & Markets, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–15247 Filed 6–23–10; 8:45 am]
BILLING CODE 8010–01–P
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on June 2,
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 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 the Substance
of the Proposed Rule Change
The Exchange proposes to amend
Commentary .01 to Rule 5.32, Terms of
FLEX Options, to permit certain FLEX
Options to trade under the FLEX
Trading Procedures for a limited time.
The text of the proposed rule change is
attached at Exhibit 5 to the 19b–4 form.
A copy of this filing is available on the
Exchange’s Web site at https://
www.nyse.com, on the Commission’s
Web site at https://www.sec.gov, at the
Exchange’s principal office, 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,
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
[Release No. 34–62321; File No. SR–
NYSEArca–2010–46]
emcdonald on DSK2BSOYB1PROD with NOTICES
SECURITIES AND EXCHANGE
COMMISSION
1. Purpose
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending Commentary
.01 to Rule 5.32 To Permit Certain
FLEX Options To Trade Under the
FLEX Trading Procedures for a Limited
Time on a Closing Only Basis
June 17, 2010.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
10 17
CFR 200.30–3(a)(12).
1 15 U.S.C.78s(b)(1).
VerDate Mar<15>2010
16:47 Jun 23, 2010
The purpose of this filing is to allow
certain FLEX options, which are
identical in all terms to a Non-FLEX
option, to trade using FLEX Trading
Procedures for the balance of the trading
day on which the Non-FLEX Option is
added as an intra-day add.
The Exchange recently adopted rule
changes to allow FLEX options to expire
within two business days of a thirdFriday-of-the-month expiration,
including expiration Friday (‘‘expiration
4 See Exchange Act Release No. 60549, SR–
NYSE–Arca–2009–75 (August 20, 2009), 74 FR
44415 (August 28, 2009).
2 15
U.S.C. 78a.
3 17 CFR 240.19b–4.
Jkt 220001
PO 00000
Frm 00073
Fmt 4703
FLEX’’).4 Such FLEX Options could
have either an American Style exercise
or a European Style exercise. The same
rule change also allowed for FLEX Index
Options to expire on or within two
business days of a third-Friday-of-themonth expiration, provided they only
have an exercise settlement value on the
expiration date determined by reference
to the reported level of the index as
derived from the opening prices of the
component securities (‘‘a.m.
settlement’’).
The rule change provided that
expiration FLEX options will be
permitted before (but not after) NonFLEX Options with identical terms are
listed. Once and if an option series is
listed for trading as a Non-FLEX Option
series, (i) all existing open positions
established under the FLEX Trading
procedures shall be fully fungible with
transactions in the respective Non-FLEX
Options series, and (ii) any further
trading in the series would be as NonFLEX Options subject to the Non-FLEX
trading procedures and rules.
The Options Clearing Corporation
(‘‘OCC’’) became concerned that, in
certain circumstances, in the event a
Non-FLEX Option is listed with
identical terms to an existing FLEX
option, OCC could not net the positions
in the contracts until the next business
day. If the Non-FLEX Option were listed
intra-day, and the holder of a position
in the FLEX option attempted to close
the position using the Non-FLEX
Option, the holder would be technically
long in one contract and short in the
other contract. This would expose the
holder to assignment risk until the next
day despite having offsetting positions.
The limited circumstances are:
• The Non-Flex Option is listed intraday.
• The FLEX contract is for American
style exercise.
• All other terms are identical and the
contracts are otherwise fungible.
The risk does not occur in expiration
Friday FLEX option positions during the
five days prior to expiration, as no new
Non-FLEX Option series may be listed
within five days of expiration. It also
does not exist for FLEX option positions
that will be identical to Non-FLEX
series to be added after expiration, as
those new series are added ‘‘overnight’’
and OCC will convert the FLEX position
to the Non-FLEX Options series at the
time the Non-FLEX series is created.
Further, it does not exist for FLEX Index
Options listed on NYSE Arca, as NonFLEX Index options currently traded on
Sfmt 4703
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]]>Agencies
[Federal Register Volume 75, Number 121 (Thursday, June 24, 2010)]
[Notices]
[Pages 36128-36130]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-15247]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62314; File No. SR-NASDAQ-2010-072]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of a Proposed Rule Change by The NASDAQ Stock Market LLC
To Clarify the Applicable Time Period of Trading Pauses on Trading Days
With an Early Scheduled Close
June 17, 2010.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on June 14, 2010, The NASDAQ Stock Market LLC (``Nasdaq'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Exchange. The Exchange
has designated the proposed rule change as constituting a non-
controversial rule change under Rule 19b-4(f)(6) under the Act,\3\
which renders the proposal effective upon filing with the Commission.
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.
\3\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change
The Exchange is filing with the Commission a proposed rule change
to clarify the applicable time period of trading pauses on trading days
with an early scheduled close.
The text of the proposed rule change is below. Proposed new
language is underlined and proposed deletions are in brackets.\4\
---------------------------------------------------------------------------
\4\ Changes are marked to the rule text that appears in the
electronic manual of NASDAQ found at https://nasdaqomx.cchwallstreet.com.
---------------------------------------------------------------------------
* * * * *
4120. Trading Halts
(a) Authority To Initiate Trading Halts or Pauses
In circumstances in which Nasdaq deems it necessary to protect
investors and the public interest, Nasdaq, pursuant to the procedures
set forth in paragraph (c):
(1)-(10) No Change.
(11) shall, between 9:45 a.m. and 3:35 p.m., or in the case of an
early scheduled close, 25 minutes before the close of trading,
immediately pause
[[Page 36129]]
trading for 5 minutes in any Nasdaq-listed security when the price of
such security moves 10 percent or more within a 5-minute period. At the
end of the trading pause, Nasdaq will re-open the security using the
Halt Cross process set forth in Nasdaq Rule 4753. In the event of a
significant imbalance at the end of a trading pause, Nasdaq may delay
the re-opening of a security.
Nasdaq will issue a notification if it cannot resume trading for a
reason other than a significant imbalance.
Price moves under this paragraph will be calculated by changes in
each consolidated last-sale price disseminated by a network processor
over a five minute rolling period measured continuously. Only regular
way in-sequence transactions qualify for use in calculations of price
moves. Nasdaq can exclude a transaction price from use if it concludes
that the transaction price resulted from an erroneous trade.
If a trading pause is triggered under this paragraph, Nasdaq shall
immediately notify the single plan processor responsible for
consolidation of information for the security pursuant to Rule 603 of
Regulation NMS under the Securities Exchange Act of 1934.
If a primary listing market issues an individual stock trading
pause, Nasdaq will pause trading in that security until trading has
resumed on the primary listing market or notice has been received from
the primary listing market that trading may resume. If the primary
listing market does not reopen within 10 minutes of notification of a
trading pause, Nasdaq may resume trading the security.
The provisions of this paragraph shall only apply to securities in
the Standard & Poor's 500 Index.
The provisions of this paragraph shall be in effect during a pilot
set to end on December 10, 2010.
(b)-(c) No Change.
* * * * *
(b) Not applicable.
(c) Not applicable.
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 Exchange 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. The Exchange 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
1. Purpose
Nasdaq proposes to clarify the applicable time period of trading
pauses on trading days with an early scheduled close. Under the
proposal, trading pauses on days with an early scheduled close would be
initiated no later than 25 minutes before that close. On trading days
with an early scheduled close, the proposal will ensure a minimum
pause-free time period before the close exactly the same as that
applicable on trading days with a regular 4 p.m. close.
2. Statutory Basis
NASDAQ believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\5\ in general, and with
Sections 6(b)(5) of the Act,\6\ in particular, in that the proposal is
designed to prevent fraudulent and manipulative acts and practices, to
promote just and equitable principles of trade, to foster cooperation
and coordination with persons engaged in regulating, clearing,
settling, processing information with respect to, and facilitating
transactions in securities, to remove impediments to and perfect the
mechanism of a free and open market and a national market system, and,
in general, to protect investors and the public interest. The Exchange
believes that the proposed rule meets these requirements in that it
promotes uniformity regarding pause periods on all trading days.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f.
\6\ 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
result in 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
Written comments on the proposed rule change were neither solicited
nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b-
4(f)(6) thereunder.\8\ The Exchange has asked the Commission to waive
the 30-day operative delay so that the proposal may become operative
upon filing. The Commission notes that the proposed rule change
clarifies how the Exchange handles Trading Pauses in the case of an
early scheduled closing of the Exchange which is the same way the other
listing markets will handle Trading Pauses during an early scheduled
closing, and how indications will be published during all Trading
Pauses. The proposed rule change does not raise any new substantive
issues. For these reasons, the Commission believes that the waiver of
the 30-day operative delay is consistent with the protection of
investors and the public interest.\9\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6).
\9\ For purposes only of waiving the 30-day operative delay of
this proposal, the Commission has considered the proposed rule's
impact on efficiency, competition and capital formation. 15 U.S.C.
78c(f).
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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-NASDAQ-2010-072 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.
[[Page 36130]]
All submissions should refer to File Number SR-NASDAQ-2010-072. 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 NASDAQ.
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-NASDAQ-2010-072 and
should be submitted on or before July 15, 2010.
For the Commission, by the Division of Trading & Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-15247 Filed 6-23-10; 8:45 am]
BILLING CODE 8010-01-P
