Self-Regulatory Organizations; Notice of Filing of Proposed Rule Change by NYSE Arca, Inc. To Amend the Bylaws of NYSE Euronext To Adopt a Majority Voting Standard in Uncontested Elections of Directors, 39595 [C1-2010-16106]
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Federal Register / Vol. 75, No. 131 / Friday, July 9, 2010 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010–16682 Filed 7–8–10; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34-62377; File No. SRNYSEArca-2010-55]
Self-Regulatory Organizations; Notice
of Filing of Proposed Rule Change by
NYSE Arca, Inc. To Amend the Bylaws
of NYSE Euronext To Adopt a Majority
Voting Standard in Uncontested
Elections of Directors
Correction
In notice document 2010–16106
beginning on page 38576 in the issue of
July 2, 2010, make the following
correction:
On page 38579, in the final line of the
first paragraph, ‘‘June 23, 2010’’ should
read ‘‘July 23, 2010’’.
[FR Doc. C1–2010–16106 Filed 7–8–10; 8:45 am]
BILLING CODE 1505–01–D
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62444; File No. SR–ISE–
2010–72]
Self-Regulatory Organizations; Notice
of Filing and Immediate Effectiveness
of a Proposed Rule Change by the
International Securities Exchange, LLC
To Expand and Permanently Establish
Its Short Term Option Series Program
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
July 2, 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 July 1,
2010, the International Securities
Exchange, LLC (the ‘‘Exchange’’ or the
‘‘ISE’’) filed with the Securities and
Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Exchange has
filed the proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to Section 19(b)(3)(A)(iii) of
the Act 3 and Rule 19b–4(f)(6)
thereunder.4 The Commission is
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
1 15
VerDate Mar<15>2010
16:52 Jul 08, 2010
Jkt 220001
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 its
rules to regarding the Short Term
Option Series Program. The text of the
proposed rule change is available on the
Exchange’s Web site https://
www.ise.com, at the principal office of
the Exchange, on the Commission’s Web
site at https://www.sec.gov, 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
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
self-regulatory organization 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
On July 12, 2005, the Commission
approved the Short Term Option Series
Program (the ‘‘Program’’) on a pilot basis
that allows ISE to list and trade Short
Term Option Series.5 The Program was
subsequently extended 6 and the current
Program is set to expire on July 12,
2010.7 The Commission has also
approved permanent establishment of
the Program in 2009 on behalf of the
Chicago Board Options Exchange
(‘‘CBOE’’).8 Thereafter, CBOE amended
its rules to permit opening Short Term
Options Series not just on Friday but
also on Thursday.9
The Purpose of this proposed rule
change is to amend ISE rules to (1) make
the Program permanent, (2) increase to
5 See Securities Exchange Act Release No. 52012
(July 12, 2005), 70 FR 41246 (July 18, 2005).
6 See Securities Exchange Act Release Nos. 54117
(July 12, 2006), 71 FR 40564 (July 17, 2006); 56047
(July 11, 2007), 72 FR 39106 (July 17, 2007); and
58020 (June 25, 2008), 73 FR 38000 (July 2, 2008).
7 See Securities Exchange Act Release No. 60281
(July 10, 2009), 74 FR 34811 (July 17, 2009).
8 See Securities Exchange Act Release No. 59824
(April 27, 2009), 74 FR 20518 (May 4, 2009).
9 See Securities Exchange Act Release No. 62170
(May 25, 2010), 75 FR 30889 (June 2, 2010).
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39595
twenty the number of series the
Exchange may open for each expiration
date in a class, and (3) permit the
Exchange to open a Short Term Options
Series for trading on any Thursday or
Friday. The Exchange’s proposal is
based on the short term options program
currently in place at the CBOE.10 The
Exchange also proposes to make nonsubstantive changes to reorganize the
rule text related to the Program so that
applicable terms are located within a
single section. These non-substantive
changes do not change the substance of
the Program.
Under the terms of the Program
currently in place, after an option class
has been approved for listing and
trading on the Exchange, ISE may open
for trading on any Friday that is a
business day (‘‘Short Term Option
Opening Date’’) series of options on that
class that expire on the next Friday that
is a business day (‘‘Short Term Option
Expiration Date’’). If the Exchange is not
open for business on a Friday, the Short
Term Option Opening Date is the first
business day immediately prior to that
Friday. Similarly, if the Exchange is not
open for business on a Friday, the Short
Term Option Expiration Date is the first
business day immediately prior to that
Friday. Further, the Exchange can select
up to five options classes on which
Short Term Option Series may be
opened on any Short Term Option
Series Opening Date. The Exchange is
also allowed to list Short Term Option
Series on any option class that is
selected by other securities exchanges
that employ a similar program under
their respective rules. Further, for each
option class eligible for participation in
the Program, the Exchange may open up
to five Short Term Option Series for
each expiration date in that class. The
strike price of each Short Term Option
Series is fixed at a price per share, with
at least two strike prices above and two
strike prices below the value of the
underlying security at about the time
that Short Term Option Series is opened
for trading on the Exchange.
As noted above, pursuant to
Commission approval, CBOE has made
its short term options program
permanent. On the basis of the CBOE’s
approval, the Exchange proposes to also
make permanent its short term options
series program.
Additionally, the Exchange also
proposes to amend its rules such that
after an options class has been approved
for listing and trading on the Exchange,
the Exchange may open for trading on
any Thursday or Friday that is a
business day series of options on that
10 See
E:\FR\FM\09JYN1.SGM
CBOE Rules 5.5 and 24.9.
09JYN1
]]>Agencies
[Federal Register Volume 75, Number 131 (Friday, July 9, 2010)]
[Notices]
[Page 39595]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: C1-2010-16106]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62377; File No. SR-NYSEArca-2010-55]
Self-Regulatory Organizations; Notice of Filing of Proposed Rule
Change by NYSE Arca, Inc. To Amend the Bylaws of NYSE Euronext To Adopt
a Majority Voting Standard in Uncontested Elections of Directors
Correction
In notice document 2010-16106 beginning on page 38576 in the issue
of July 2, 2010, make the following correction:
On page 38579, in the final line of the first paragraph, ``June 23,
2010'' should read ``July 23, 2010''.
[FR Doc. C1-2010-16106 Filed 7-8-10; 8:45 am]
BILLING CODE 1505-01-D
