Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Related to the Complex Order Book, 57100-57102 [2010-23297]
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57100
Federal Register / Vol. 75, No. 180 / Friday, September 17, 2010 / Notices
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (1) Significantly affect
the protection of investors or the public
interest; (2) impose any significant
burden on competition; and (3) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate if
consistent with the protection of
investors and the public interest, it has
become effective pursuant to Section
19(b)(3)(A) of the Act 11 and Rule 19b–
4(f)(6) thereunder.12
A proposed rule change filed under
Rule 19b–4(f)(6) normally may not
become operative prior to 30 days after
the date of filing.13 However, Rule 19b–
4(f)(6) 14 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. Phlx
has requested that the Commission
waive the 30-day operative delay.
The Commission has considered
Phlx’s request to waive the 30-day
operative delay. Because, however, the
Commission does not believe,
practically speaking, that a pilot should
retroactively commence, the
Commission is only waiving the
operative delay as of the date of this
notice for the reasons discussed
below.15 The Commission believes that
waiving the 30-day operative delay to
allow the commencement of the pilot as
of the date of issuance of this notice of
the proposed rule change is consistent
with the protection of investors and the
public interest. The Commission notes
that the proposed rule change is
11 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). When filing a proposed
rule change pursuant to Rule 19b–4(f)(6) under the
Act, an exchange is required to give the
Commission written notice of its intent to file the
proposed rule change, along with a brief description
and text of the proposed rule change, at least five
business days prior to the date of filing of the
proposed rule change, or such shorter time as
designated by the Commission. The Commission
notes that the Exchange has satisfied this
requirement.
13 17 CFR 240.19b–4(f)(6)(iii).
14 Id.
15 The Commission also notes that waiving the
operative date as of the date of this notice is
consistent with approval of CBOE’s pilot, which
allowed implementation as of the date of the
Commission’s approval order, and Amex’s pilot,
where the pilot was operative upon the date of issue
of the notice.
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
12 17
VerDate Mar<15>2010
14:46 Sep 16, 2010
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substantially similar to a pilot that was
previously approved by the Commission
and is currently in existence for
CBOE,16 and to a pilot program that is
currently in existence on NYSE Amex.17
The Commission notes that these pilots
were subject to full notice and comment
in the Federal Register. The
Commission received no comments on
the NYSE Amex proposal, and only
received comments that supported the
CBOE proposal.18 Further, the
Exchange’s proposal does not raise any
new or novel issues that were not
already considered in connection with
the CBOE and NYSE Amex proposals.
For these reasons, consistent with
investor protection and the public
interest, the Commission designates this
pilot to be operative upon the date of
issuance of this notice.19
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend 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–Phlx–2010–123 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–Phlx–2010–123. 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
16 See
supra note 4.
17 Id.
18 Id.
19 For the purposes only of waiving the operative
date of this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
PO 00000
Frm 00122
Fmt 4703
Sfmt 4703
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 the 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
available publicly. All submissions
should refer to File Number SR–Phlx–
2010–123 and should be submitted on
or before October 8, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.20
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–23298 Filed 9–16–10; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–62897; File No. SR–CBOE–
2010–083]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Related to the Complex
Order Book
September 13, 2010.
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
September 9, 2010, the Chicago Board
Options Exchange, Incorporated
(‘‘Exchange’’ or ‘‘CBOE’’) filed with the
Securities and Exchange Commission
(the ‘‘Commission’’) the proposed rule
change as described in Items I and II
20 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\17SEN1.SGM
17SEN1
Federal Register / Vol. 75, No. 180 / Friday, September 17, 2010 / Notices
below, which Items have been prepared
by the Exchange. The Exchange filed the
proposal as a ‘‘non-controversial’’
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 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
CBOE Rule 6.53C, Complex Orders on
the Hybrid System, to incorporate a
provision related to option classes in
which the electronic complex order
book (‘‘COB’’) is activated. 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, 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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
CBOE Rule 6.53C governs the
operation of the Exchange’s electronic
COB system. The purpose of this
proposed rule change is to incorporate
a provision to provide the Exchange
with additional flexibility to determine
the applicable matching algorithm 5 for
option classes in which COB is
activated. Currently, Rule 6.53C(c)(ii)(2)
specifies that the allocation of complex
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
3 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
5 The matching algorithms include price-time,
pro-rata, and the ultimate matching algorithm
(‘‘UMA’’) base priorities and a combination of
various optional priority overlays pertaining to
public customer priority, Market-Maker
participation entitlements, small order preference,
and market turner. See Rules 6.45A, Priority and
Allocation of Equity Option Trades on the CBOE
Hybrid System, and 6.45B, Priority and Allocation
of Trades in Index Options and Options on ETFs
on the CBOE Hybrid System.
4 17
VerDate Mar<15>2010
14:46 Sep 16, 2010
Jkt 220001
57101
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
orders within COB shall be pursuant to
the rules of trading priority otherwise
applicable to incoming electronic orders
in the individual component legs, and
Rule 6.53C(iii)(3) specifies that the
allocation of complex orders among
market participants that submit orders
or quotes to trade against the COB shall
be pursuant to paragraph (c) of Rule
6.45A or Rule 6.45B, as applicable.
This filing proposes to provide the
Exchange with additional flexibility
regarding the allocation to permit the
matching algorithm in effect for COB to
be different from the matching
algorithm in effect for the option class.
Specifically, we are proposing that the
Exchange may determine on a class-byclass basis which electronic matching
algorithm shall apply to COB
executions. Pursuant to Rule 6.53C.01,
all pronouncements regarding COB
matching algorithm determinations by
the Exchange will be announced to
CBOE Trading Permit Holders via
Regulatory Circular.
The matching algorithm applied to
COB for each option class will continue
to be pursuant to Rule 6.45A or 6.45B,
as applicable. Thus, the Exchange is not
creating any new algorithms for COB,
but is amending Rule 6.53C to provide
the flexibility to choose an algorithm
from among the existing algorithms to
be applied to COB rather than simply
defaulting to the algorithm in effect for
an option class. All other aspects of
COB pursuant to Rule 6.53C shall apply
unchanged.
Because the foregoing rule 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 if consistent
with the protection of investors and the
public interest, provided that the selfregulatory organization has given the
Commission written notice of its intent
to file the proposed rule change at least
five business days prior to the date of
filing of the proposed rule change or
such shorter time as designated by the
Commission, the proposed rule change
has become effective pursuant to
Section 19(b)(3)(A) of the Act 7 and Rule
19b–4(f)(6) thereunder.8 At any time
within 60 days of the filing of such
proposed rule change, the Commission
summarily may temporarily suspend
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.
2. Statutory Basis
IV. Solicitation of Comments
The basis under the Act for this
proposed rule change is the requirement
under Section 6(b)(5) 6 that an exchange
have rules that are designed to promote
just and equitable principles of trade,
and to remove impediments to and
perfect the mechanism for a free and
open market and a national market
system, and, in general, to protect
investors and the public interest. In
particular, the Exchange believes the
proposed change would provide more
flexibility for the Exchange to designate
the matching algorithm for COB in a
manner that is consistent with existing
CBOE rules.
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:
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 not necessary or
appropriate in furtherance of the
purposes of the Act.
6 15
PO 00000
U.S.C. 78f(b)(5).
Frm 00123
Fmt 4703
Sfmt 4703
The Exchange neither solicited nor
received comments on the proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
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–2010–083 on the
subject line.
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization
submit to the Commission written notice of its
intent to file the proposed rule change, along with
a brief description and text of the proposed rule
change, at least five business days prior to the filing
of the proposed rule change, or such shorter time
as designated by the Commission. The Commission
notes that the Exchange has satisfied this
requirement.
8 17
E:\FR\FM\17SEN1.SGM
17SEN1
57102
Federal Register / Vol. 75, No. 180 / Friday, September 17, 2010 / Notices
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–2010–083. 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 website (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 website 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 the 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
available publicly. All submissions
should refer to File Number SR–CBOE–
2010–083 and should be submitted on
or before October 8, 2010.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–23297 Filed 9–16–10; 8:45 am]
BILLING CODE 8010–01–P
SOCIAL SECURITY ADMINISTRATION
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
[Docket No. SSA–2010–0058]
Occupational Information Development
Advisory Panel Meeting; Correction
Social Security Administration.
Notice; correction.
AGENCY:
ACTION:
The Social Security
Administration published a document
in the Federal Register of September 13,
SUMMARY:
9 17
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
14:46 Sep 16, 2010
Jkt 220001
2010, announcing an upcoming panel
teleconference meeting of the
Occupational Information Development
Advisory Panel. The document
contained an incorrect timeframe for the
meeting.
FOR FURTHER INFORMATION CONTACT: The
panel staff by any one of these three
methods:
• Mail: Occupational Information
Development Advisory Panel, Social
Security Administration, 6401 Security
Boulevard, Operations Building, 3–E–
26, Baltimore, Maryland 21235.
• Fax: (410) 597–0825.
• E-mail: OIDAP@ssa.gov.
Correction
In the Federal Register of September
13, 2010, in FR Doc. 2010–22711, on
page 55625, in the second column,
correct the DATES caption to read:
DATES: September 29, 2010, 10 a.m.–12
p.m. (EDT). Call-in number (866) 283–
9791, Conference ID: 1482323, Leader/
Host: Debra Tidwell-Peters.
Deborah Tidwell,
Designated Federal Officer.
[FR Doc. 2010–23206 Filed 9–16–10; 8:45 am]
BILLING CODE 4710–05–P
DEPARTMENT OF STATE
Department of State.
Notice; FACA Committee
meeting announcement.
AGENCY:
[Public Notice 7174]
ACTION:
Culturally Significant Objects Imported
for Exhibition Determinations: ‘‘Titian
and the Golden Age of Venetian
Painting: Masterpieces from the
National Galleries of Scotland’’
Notice is hereby given of the
following determinations: Pursuant to
the authority vested in me by the Act of
October 19, 1965 (79 Stat. 985; 22 U.S.C.
2459), Executive Order 12047 of March
27, 1978, the Foreign Affairs Reform and
Restructuring Act of 1998 (112 Stat.
2681, et seq.; 22 U.S.C. 6501 note, et
seq.), Delegation of Authority No. 234 of
October 1, 1999, and Delegation of
Authority No. 236–3 of August 28, 2000,
I hereby determine that the objects to be
included in the exhibition ‘‘Titian and
the Golden Age of Venetian Painting:
Masterpieces from the National
Galleries of Scotland,’’ imported from
abroad for temporary exhibition within
the United States, are of cultural
significance. The objects are imported
pursuant to loan agreements with the
foreign owners or custodians. I also
determine that the exhibition or display
of the exhibit objects at the High
Museum of Art, Atlanta, GA, from on or
about October 16, 2010, until on or
about January 2, 2011; at the
SUMMARY:
Fmt 4703
[FR Doc. 2010–23284 Filed 9–16–10; 8:45 am]
Advisory Committee on International
Postal and Delivery Services
DEPARTMENT OF STATE
Frm 00124
Dated: September 9, 2010.
Ann Stock,
Assistant Secretary, Bureau of Educational
and Cultural Affairs, Department of State.
[Public Notice 7112]
BILLING CODE 4191–02–P
PO 00000
Minneapolis Institute of Arts,
Minneapolis, MN, from on or about
February 6, 2011 to on or about May 1,
2011; at the Museum of Fine Arts,
Houston, TX, from on or about May 21,
2011, to on or about August 14, 2011,
and at possible additional exhibitions or
venues yet to be determined, is in the
national interest. Public Notice of these
Determinations is ordered to be
published in the Federal Register.
FOR FURTHER INFORMATION CONTACT: For
further information, including a list of
the exhibit objects, contact Carol B.
Epstein, Attorney-Adviser, Office of the
Legal Adviser, U.S. Department of State
(telephone: 202/632–6473). The address
is U.S. Department of State, SA–5, L/PD,
Fifth Floor, Washington, DC 20522–
0505.
Sfmt 4703
As required by the Federal
Advisory Committee Act, Public Law
92–463, the Department of State gives
notice of a meeting of the Advisory
Committee on International Postal and
Delivery Services. This Committee has
been formed in fulfillment of the
provisions of the 2006 Postal
Accountability and Enhancement Act
(Pub. L. 109–435) and in accordance
with the Federal Advisory Committee
Act.
DATE: October 19, 2010 from 2 p.m. to
about 5 p.m. (open to the public).
Location: The American Institute of
Architects (Boardroom), 1735 New York
Ave., NW., Washington, DC 20006.
Meeting agenda: The agenda of the
meeting will include a review of the
results of the April 2010 UPU Postal
Operations Council, the major issues to
arise at the November 2010 UPU
Council of Administration and other
subjects related to international postal
and delivery services of interest to
Advisory Committee members and the
public.
Public input: Any member of the
public interested in providing public
input to the meeting should contact Ms.
SUMMARY:
E:\FR\FM\17SEN1.SGM
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]]>Agencies
[Federal Register Volume 75, Number 180 (Friday, September 17, 2010)]
[Notices]
[Pages 57100-57102]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-23297]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62897; File No. SR-CBOE-2010-083]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Related to the Complex Order Book
September 13, 2010.
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 September 9, 2010, the Chicago Board Options Exchange,
Incorporated (``Exchange'' or ``CBOE'') filed with the Securities and
Exchange Commission (the ``Commission'') the proposed rule change as
described in Items I and II
[[Page 57101]]
below, which Items have been prepared by the Exchange. The Exchange
filed the proposal as a ``non-controversial'' 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 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\ 15 U.S.C. 78s(b)(3)(A)(iii).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend CBOE Rule 6.53C, Complex Orders on
the Hybrid System, to incorporate a provision related to option classes
in which the electronic complex order book (``COB'') is activated. 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, 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
CBOE Rule 6.53C governs the operation of the Exchange's electronic
COB system. The purpose of this proposed rule change is to incorporate
a provision to provide the Exchange with additional flexibility to
determine the applicable matching algorithm \5\ for option classes in
which COB is activated. Currently, Rule 6.53C(c)(ii)(2) specifies that
the allocation of complex orders within COB shall be pursuant to the
rules of trading priority otherwise applicable to incoming electronic
orders in the individual component legs, and Rule 6.53C(iii)(3)
specifies that the allocation of complex orders among market
participants that submit orders or quotes to trade against the COB
shall be pursuant to paragraph (c) of Rule 6.45A or Rule 6.45B, as
applicable.
---------------------------------------------------------------------------
\5\ The matching algorithms include price-time, pro-rata, and
the ultimate matching algorithm (``UMA'') base priorities and a
combination of various optional priority overlays pertaining to
public customer priority, Market-Maker participation entitlements,
small order preference, and market turner. See Rules 6.45A, Priority
and Allocation of Equity Option Trades on the CBOE Hybrid System,
and 6.45B, Priority and Allocation of Trades in Index Options and
Options on ETFs on the CBOE Hybrid System.
---------------------------------------------------------------------------
This filing proposes to provide the Exchange with additional
flexibility regarding the allocation to permit the matching algorithm
in effect for COB to be different from the matching algorithm in effect
for the option class. Specifically, we are proposing that the Exchange
may determine on a class-by-class basis which electronic matching
algorithm shall apply to COB executions. Pursuant to Rule 6.53C.01, all
pronouncements regarding COB matching algorithm determinations by the
Exchange will be announced to CBOE Trading Permit Holders via
Regulatory Circular.
The matching algorithm applied to COB for each option class will
continue to be pursuant to Rule 6.45A or 6.45B, as applicable. Thus,
the Exchange is not creating any new algorithms for COB, but is
amending Rule 6.53C to provide the flexibility to choose an algorithm
from among the existing algorithms to be applied to COB rather than
simply defaulting to the algorithm in effect for an option class. All
other aspects of COB pursuant to Rule 6.53C shall apply unchanged.
2. Statutory Basis
The basis under the Act for this proposed rule change is the
requirement under Section 6(b)(5) \6\ that an exchange have rules that
are designed to promote just and equitable principles of trade, and to
remove impediments to and perfect the mechanism for a free and open
market and a national market system, and, in general, to protect
investors and the public interest. In particular, the Exchange believes
the proposed change would provide more flexibility for the Exchange to
designate the matching algorithm for COB in a manner that is consistent
with existing CBOE rules.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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 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
The Exchange neither solicited nor received comments on the
proposal.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule 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 if consistent with the protection of investors
and the public interest, provided that the self-regulatory organization
has given the Commission written notice of its intent to file the
proposed rule change at least five business days prior to the date of
filing of the proposed rule change or such shorter time as designated
by the Commission, the proposed rule change has become effective
pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b-4(f)(6)
thereunder.\8\ At any time within 60 days of the filing of such
proposed rule change, the Commission summarily may temporarily suspend
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.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization submit to the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the filing of the proposed rule
change, or such shorter time as designated by the Commission. The
Commission notes that the Exchange has satisfied this requirement.
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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-2010-083 on the subject line.
[[Page 57102]]
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-2010-083. 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 website (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 website 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 the 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 available publicly. All submissions
should refer to File Number SR-CBOE-2010-083 and should be submitted on
or before October 8, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-23297 Filed 9-16-10; 8:45 am]
BILLING CODE 8010-01-P
