Self-Regulatory Organization; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change by OneChicago Amending Position Limits, 39083-39084 [2010-16429]
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Federal Register / Vol. 75, No. 129 / Wednesday, July 7, 2010 / Notices
cprice-sewell on DSK8KYBLC1PROD with NOTICES
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
The Commission notes that ETF
trades constituted a substantial majority
of the trades that were cancelled on May
6, and the proposed amendments would
bring certain ETFs within the scope of
the trading pause pilot for the first time.
The Commission solicits comment
regarding the inclusion of ETFs within
the trading pause pilot. The
Commission requests comment in
particular on the implications of
including in the trading pause pilot
ETFs on broad-based indices that also
underlie options and futures products.
What are the potential benefits and risks
of including those ETFs in the pilot
under circumstances where other
products based on the same index may
not be subject to any trading pause, or
may be subject to a different type of
trading pause? Are existing mechanisms
available in the markets for those other
products sufficient to address any crossmarket linkage concerns? What are the
potential effects on price discovery and
trading behavior in the different
markets?
Similarly, the Commission solicits
comments on the potential benefits and
risks of excluding such ETFs from the
pilot, particularly under circumstances
where the securities underlying the ETF
are included in the pilot. If there are
trading pauses for the component
securities of an index but not for an ETF
based on that index, what consequences
might that have for the ETF or for other
products based on that index? If there
are trading pauses in an ETF but not in
the stocks that underlie that ETF, what
consequences might that have for the
underlying stocks or other products?
What are the potential effects on price
discovery for the ETF, the underlying
stocks and other products?
Are there other market-based
characteristics or metrics that should be
considered for purposes of determining
which ETFs should be included in the
trading pause pilot, or for re-calibrating
particular features of the trading pause?
In addition, the Commission solicits
comments regarding the operation of the
trading pause pilot to date with respect
to stocks in the S&P 500.
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
VerDate Mar<15>2010
15:28 Jul 06, 2010
Jkt 220001
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NASDAQ–2010–079 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–NASDAQ–2010–079. 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 offices 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–NASDAQ–2010–079, and
should be submitted on or before July
19, 2010.8
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–16408 Filed 7–6–10; 8:45 am]
BILLING CODE 8010–01–P
8 The Commission believes that a 10-day
comment period is reasonable, given the urgency of
the matter. It will provide adequate time for
comment.
9 17 CFR 200.30–3(a)(12).
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39083
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62398; File No. SR–OC–
2010–02]
Self-Regulatory Organization; Notice of
Filing and Immediate Effectiveness of
a Proposed Rule Change by
OneChicago Amending Position Limits
June 28, 2010.
Pursuant to Section 19(b)(7) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–7 under the Act 2
notice is hereby given that on June 18,
2010, OneChicago, LLC (‘‘OneChicago’’
or ‘‘OCX’’) filed with the Securities and
Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change 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.
OneChicago also has filed the proposed
rule change with the Commodity
Futures Trading Commission (‘‘CFTC’’)
under Section 5c(c) of the Commodity
Exchange Act 3 on June 4, 2010.
I. Self-Regulatory Organization’s
Description of the Proposed Rule
Change
OneChicago is proposing to amend
the position limits for eighteen security
futures products, as set forth in Exhibit
4 to the Submission, because the
speculative position limits for these
products were greater than 25% of the
outstanding number of shares available
for delivery. The requirement is found
in Appendix B to Part 38 in the
guidance to Core Principle 5 of section
5(d) of the Commodity Exchange Act
(CEA). Accordingly, OneChicago has
filed the reduction notice consistent
with Core Principle 5.
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.
OneChicago has prepared summaries,
set forth in Sections A, B, and C below,
of the most significant aspects of such
statements.
1 15
U.S.C. 78s(b)(7).
CFR 240.19b–7.
3 7 U.S.C. 7a–2(c).
2 17
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07JYN1
39084
Federal Register / Vol. 75, No. 129 / Wednesday, July 7, 2010 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of this proposed rule
change is to conform the speculative
position limits for certain security
futures products to the requirements of
the CEA. This change will achieve that
result.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b)(5) of the
Act 4 in that it is designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, to protect investors
and the public interest, and to remove
impediments to and perfect the
mechanism for a free and open market
and a national market system.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
OneChicago does not believe that the
proposed rule change will have an
impact on competition.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
Comments on the OneChicago
proposed rule change have not been
solicited and none have been received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become
effective pursuant to Section 19(b)(7) of
the Act.5 Within 60 days of the date of
effectiveness of the proposed rule
change, the Commission, after
consultation with the CFTC, may
summarily abrogate the proposed rule
change and require that the proposed
rule change be refiled in accordance
with the provisions of Section 19(b)(1)
of the Act.6
cprice-sewell on DSK8KYBLC1PROD with NOTICES
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
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–OC–2010–02 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.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62418; File No. SR–EDGX–
2010–05]
Self-Regulatory Organizations; EDGX
Exchange, Inc.; Notice of Filing of
Proposed Rule Change To Amend
EDGX Rule 11.14, Entitled ‘‘Trading
Halts Due to Extraordinary Volatility.’’
June 30, 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 30,
2010, EDGX Exchange, Inc. (the
‘‘Exchange’’ or ‘‘EDGX’’) filed with the
All submissions should refer to File
Securities and Exchange Commission
Number SR–OC–2010–02. This file
(‘‘Commission’’) the proposed rule
number should be included on the
change as described in Items I, II, and
subject line if e-mail is used. To help the III below, which Items have been
Commission process and review your
prepared by the Exchange. The
comments more efficiently, please use
Commission is publishing this notice to
only one method. The Commission will solicit comments on the proposed rule
post all comments on the Commission’s change from interested persons.
Internet Web site (https://www.sec.gov/
I. Self-Regulatory Organization’s
rules/sro.shtml). Copies of the
Statement of the Terms of Substance of
submission, all subsequent
the Proposed Rule Change
amendments, all written statements
The Exchange is proposing to amend
with respect to the proposed rule
EDGX Rule 11.14, entitled ‘‘Trading
change that are filed with the
Halts Due to Extraordinary Volatility’’ to
Commission, and all written
add additional securities to the pilot
communications relating to the
rule. The text of the proposed rule
proposed rule change between the
change is available at the Exchange’s
Commission and any person, other than Web site at https://www.directedge.com,
those that may be withheld from the
at the principal office of the Exchange,
public in accordance with the
and at the Commission’s Public
provisions of 5 U.S.C. 552, will be
Reference Room.
available for Web site viewing and
II. Self-Regulatory Organization’s
printing in the Commission’s Public
Statement of the Purpose of, and
Reference Room, 100 F Street, NE.,
Statutory Basis for, the Proposed Rule
Washington, DC 20549, on official
Change
business days between the hours of 10
In its filing with the Commission, the
a.m. and 3 p.m. Copies of such filing
also will be available for inspection and Exchange included statements
concerning the purpose of and basis for
copying at the principal office of the
the proposed rule change and discussed
OneChicago. All comments received
any comments it received on the
will be posted without change; the
proposed rule change. The text of these
Commission does not edit personal
statements may be examined at the
identifying information from
places specified in Item IV below. The
submissions. You should submit only
Exchange has prepared summaries, set
information that you wish to make
forth in Sections A, B, and C below, of
available publicly. All submissions
the most significant parts of such
should refer to File Number SR–OC–
statements.
2010–02 and should be submitted on or
A. Self-Regulatory Organization’s
before August 6, 2010.
Statement of the Purpose of, and
For the Commission, by the Division of
Statutory Basis for, the Proposed Rule
Trading and Markets, pursuant to delegated
Change
7
authority.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–16429 Filed 7–6–10; 8:45 am]
BILLING CODE 8010–01–P
U.S.C. 78f(b)(5).
5 15 U.S.C. 78s(b)(7).
6 15 U.S.C. 78s(b)(1).
1. Purpose
The Exchange proposes to amend
EDGX Rule 11.14 to add securities
included in the Russell 1000® Index
4 15
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15:28 Jul 06, 2010
1 15
7 17
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PO 00000
CFR 200.30–3(a)(73).
Frm 00110
Fmt 4703
Sfmt 4703
2 17
E:\FR\FM\07JYN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
07JYN1
Agencies
[Federal Register Volume 75, Number 129 (Wednesday, July 7, 2010)]
[Notices]
[Pages 39083-39084]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16429]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62398; File No. SR-OC-2010-02]
Self-Regulatory Organization; Notice of Filing and Immediate
Effectiveness of a Proposed Rule Change by OneChicago Amending Position
Limits
June 28, 2010.
Pursuant to Section 19(b)(7) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-7 under the Act \2\ notice is hereby given
that on June 18, 2010, OneChicago, LLC (``OneChicago'' or ``OCX'')
filed with the Securities and Exchange Commission (``SEC'' or
``Commission'') the proposed rule change 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.
OneChicago also has filed the proposed rule change with the Commodity
Futures Trading Commission (``CFTC'') under Section 5c(c) of the
Commodity Exchange Act \3\ on June 4, 2010.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(7).
\2\ 17 CFR 240.19b-7.
\3\ 7 U.S.C. 7a-2(c).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Description of the Proposed Rule
Change
OneChicago is proposing to amend the position limits for eighteen
security futures products, as set forth in Exhibit 4 to the Submission,
because the speculative position limits for these products were greater
than 25% of the outstanding number of shares available for delivery.
The requirement is found in Appendix B to Part 38 in the guidance to
Core Principle 5 of section 5(d) of the Commodity Exchange Act (CEA).
Accordingly, OneChicago has filed the reduction notice consistent with
Core Principle 5.
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. OneChicago has prepared summaries, set forth in Sections
A, B, and C below, of the most significant aspects of such statements.
[[Page 39084]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of this proposed rule change is to conform the
speculative position limits for certain security futures products to
the requirements of the CEA. This change will achieve that result.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b)(5) of the
Act \4\ in that it is designed to prevent fraudulent and manipulative
acts and practices, to promote just and equitable principles of trade,
to protect investors and the public interest, and to remove impediments
to and perfect the mechanism for a free and open market and a national
market system.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
OneChicago does not believe that the proposed rule change will have
an impact on competition.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
Comments on the OneChicago proposed rule change have not been
solicited and none have been received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change has become effective pursuant to Section
19(b)(7) of the Act.\5\ Within 60 days of the date of effectiveness of
the proposed rule change, the Commission, after consultation with the
CFTC, may summarily abrogate the proposed rule change and require that
the proposed rule change be refiled in accordance with the provisions
of Section 19(b)(1) of the Act.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(7).
\6\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------
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-OC-2010-02 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-OC-2010-02. 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 OneChicago. 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-OC-2010-02 and should be
submitted on or before August 6, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(73).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-16429 Filed 7-6-10; 8:45 am]
BILLING CODE 8010-01-P