Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Fee Schedule for the CBOE Stock Exchange, 61549-61550 [2010-24894]

Download as PDF Federal Register / Vol. 75, No. 192 / Tuesday, October 5, 2010 / Notices 30-day operative delay 15 is consistent with the protection of investors and the public interest. Therefore, the Commission designates the proposal operative upon filing. 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–2010–126 on the subject line. mstockstill on DSKH9S0YB1PROD with 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–Phlx–2010–126. 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 15 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). VerDate Mar<15>2010 18:36 Oct 04, 2010 Jkt 223001 3 p.m. Copies of such 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–2010–126 and should be submitted on or before October 26, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.16 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–24896 Filed 10–4–10; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–63000; File No. SR–CBOE– 2010–089] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Fee Schedule for the CBOE Stock Exchange September 28, 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 22, 2010, the Chicago Board Options Exchange, Incorporated (the ‘‘Exchange’’ or ‘‘CBOE’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III 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 modify the Fees Schedule for its CBOE Stock Exchange (‘‘CBSX’’). The text of the proposed rule change is available on the Exchange’s Web site (https:// www.cboe.org/legal), at the Exchange’s principal office, and at the Commission’s Public Reference Room. 16 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 PO 00000 Frm 00139 Fmt 4703 Sfmt 4703 61549 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 On August 23, 2010, the Commission published an immediately effective rule filing to modify the transaction fees for 24 securities currently traded on CBSX (the following symbols: BAC, C, DXD, EMC, EWJ, F, FAX, FAZ, GE, INTC, MOT, MSFT, MU, NOK, Q, QID, S, SIRI, SKF, T, TWM, UNG, UWM, XLF).3 On September 9, 2010, the Commission published an immediately effective rule filing to modify the transaction fees for 51 more securities currently traded on CBSX (the following symbols: AA, AMAT, AMD, BGZ, BP, BSX, CMCSA, COCO, CSCO, CX, DELL, DUK, EBAY, EEM, EWT, FAS, FLEX, HBAN, IYR, MDT, MGM, IYR, MDT, MGM, NLY, NVDA, NWSA, ORCL, PFE, QCOM, QQQQ, SBUX, SH, SLV, SMH, SSO, SYMC, TBT, TSM, TXN, UCO, USO, VALE, VWO, WFC, XHB, XLB, XLK, XLP, XLU, XLV, XLY, XRX, YHOO).4 The Exchange now proposes to add 50 more securities to that list of securities (the following symbols: ARNA, ATML, BKC, BRCD, CIM, DOW, DRYS, EFA, EWZ, FITB, FXI, GBG, GDX, GLD, GLW, HPQ, IDIX, IWM, JPM, KEY, LVLT, LVS, MFE, MO, MRVL, ONNN, PBR, PCBC, QLD, RF, RFMD, RIMM, RRI, RSCR, SDS, SNDK, SPLS, SPY, TEVA, TLT, TNA, TZA, UYG, VXX, VZ, X, XLE, XLI, XOM, XRT). For those securities already approved for the new transaction fees as well as those that would be added by this proposed rule change, assuming their prices do not drop below $1, the takers of liquidity will receive a $0.0014 per share rebate, and makers of liquidity 3 See Securities Exchange Act Release No. 34– 62758 (August 23, 2010), 75 FR 166 (August 27, 2010) (SR–CBOE–2010–075). 4 See Securities Exchange Act Release No. 34– 62878 (September 9, 2010), 75 FR 179 (September 16, 2010) (SR–CBOE–2010–079). E:\FR\FM\05OCN1.SGM 05OCN1 61550 Federal Register / Vol. 75, No. 192 / Tuesday, October 5, 2010 / Notices will incur a $0.0018 charge. The new pricing strategy is designed to incent order routing behavior that selects CBSX as the first destination. By offering customers a significant rebate to ‘‘remove’’ liquidity, the Exchange will offer overall economic benefits far above those received at other markets. The proposed rule change also moves the list of securities subject to these rates from the chart of rates into footnotes, as the expanded list had made the chart cumbersome. The changes will take effect on October 1, 2010. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 (‘‘Act’’),5 in general, and furthers the objectives of Section 6(b)(4) 6 of the Act in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among CBOE members and other persons using its facilities. 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 No written comments were solicited or received with respect to the proposed rule change. mstockstill on DSKH9S0YB1PROD with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change is designated by the Exchange as establishing or changing a due, fee, or other charge, thereby qualifying for effectiveness on filing pursuant to Section 19(b)(3)(A)(ii) 7 of the Act and subparagraph (f)(2) of Rule 19b–4 8 thereunder. 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. 5 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). 7 15 U.S.C. 78s(b)(3)(A)(ii). 8 17 CFR 240.19b–4(f)(2). 6 15 VerDate Mar<15>2010 18:36 Oct 04, 2010 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: For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. 2010–24894 Filed 10–4–10; 8:45 am] BILLING CODE 8010–01–P Electronic Comments SOCIAL SECURITY ADMINISTRATION • 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–2010–089 on the subject line. Agency Information Collection Activities: Comment Request The Social Security Administration (SSA) publishes a list of information collection packages requiring clearance by the Office of Management and Budget (OMB) in compliance with Public Law (Pub. L.) 104–13, the Paperwork Reduction Act of 1995, Paper Comments effective October 1, 1995. This notice • Send paper comments in triplicate includes revisions of OMB-approved to Elizabeth M. Murphy, Secretary, information collections. Securities and Exchange Commission, SSA is soliciting comments on the accuracy of the agency’s burden 100 F Street, NE., Washington, DC estimate; the need for the information; 20549–1090. its practical utility; ways to enhance its All submissions should refer to File quality, utility, and clarity; and ways to Number SR–CBOE–2010–089. This file minimize burden on respondents, number should be included on the including the use of automated subject line if e-mail is used. To help the collection techniques or other forms of Commission process and review your information technology. Mail, e-mail, or comments more efficiently, please use fax your comments and only one method. The Commission will recommendations on the information post all comments on the Commission’s collection(s) to the OMB Desk Officer Internet Web site (https://www.sec.gov/ and SSA Reports Clearance Officer to rules/sro.shtml). Copies of the the following addresses or fax numbers. submission, all subsequent (OMB), Office of Management and amendments, all written statements Budget, Attn: Desk Officer for SSA, with respect to the proposed rule Fax: 202–395–6974, E-mail address: OIRA_Submission@omb.eop.gov. change that are filed with the (SSA), Social Security Administration, Commission, and all written DCBFM, Attn: Reports Clearance communications relating to the Officer, 1333 Annex Building, 6401 proposed rule change between the Security Blvd., Baltimore, MD 21235, Commission and any person, other than Fax: 410–965–6400, E-mail address: those that may be withheld from the OPLM.RCO@ssa.gov. public in accordance with the SSA has submitted the information provisions of 5 U.S.C. 552, will be collections listed below to OMB for available for website viewing and clearance. Your comments on the printing in the Commission’s Public information collections would be most Reference Room, 100 F Street, NE, useful if OMB and SSA receive them Washington, DC 20549, on official within 30 days from the date of this business days between the hours of 10 publication. To be sure we consider a.m. and 3 p.m. Copies of such filing your comments, we must receive them also will be available for inspection and no later than November 4, 2010. You copying at the principal office of the can obtain a copy of the OMB clearance CBOE. All comments received will be packages by calling the SSA Reports posted without change; the Commission Clearance Officer at 410–965–8783 or by does not edit personal identifying writing to the above e-mail address. information from submissions. You 1. Request for Corrections of Earnings should submit only information that Record—20 CFR 404.820 and 20 CFR you wish to make available publicly. All 422.125—0960–0029. Individuals submissions should refer to File alleging inaccurate earnings records that Number SR–CBOE–2010–089 and SSA maintains for them use Form SSA– 7008 to provide the information SSA should be submitted on or before October 26, 2010. 9 17 Jkt 223001 PO 00000 Frm 00140 Fmt 4703 Sfmt 4703 E:\FR\FM\05OCN1.SGM CFR 200.30–3(a)(12). 05OCN1

Agencies

[Federal Register Volume 75, Number 192 (Tuesday, October 5, 2010)]
[Notices]
[Pages 61549-61550]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-24894]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63000; File No. SR-CBOE-2010-089]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change To Modify the Fee Schedule for the CBOE Stock 
Exchange

September 28, 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 22, 2010, the Chicago Board Options Exchange, 
Incorporated (the ``Exchange'' or ``CBOE'') filed with the Securities 
and Exchange Commission (the ``Commission'') the proposed rule change 
as described in Items I, II, and III 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to modify the Fees Schedule for its CBOE 
Stock Exchange (``CBSX''). The text of the proposed rule change is 
available on the Exchange's Web site (https://www.cboe.org/legal), 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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    On August 23, 2010, the Commission published an immediately 
effective rule filing to modify the transaction fees for 24 securities 
currently traded on CBSX (the following symbols: BAC, C, DXD, EMC, EWJ, 
F, FAX, FAZ, GE, INTC, MOT, MSFT, MU, NOK, Q, QID, S, SIRI, SKF, T, 
TWM, UNG, UWM, XLF).\3\ On September 9, 2010, the Commission published 
an immediately effective rule filing to modify the transaction fees for 
51 more securities currently traded on CBSX (the following symbols: AA, 
AMAT, AMD, BGZ, BP, BSX, CMCSA, COCO, CSCO, CX, DELL, DUK, EBAY, EEM, 
EWT, FAS, FLEX, HBAN, IYR, MDT, MGM, IYR, MDT, MGM, NLY, NVDA, NWSA, 
ORCL, PFE, QCOM, QQQQ, SBUX, SH, SLV, SMH, SSO, SYMC, TBT, TSM, TXN, 
UCO, USO, VALE, VWO, WFC, XHB, XLB, XLK, XLP, XLU, XLV, XLY, XRX, 
YHOO).\4\ The Exchange now proposes to add 50 more securities to that 
list of securities (the following symbols: ARNA, ATML, BKC, BRCD, CIM, 
DOW, DRYS, EFA, EWZ, FITB, FXI, GBG, GDX, GLD, GLW, HPQ, IDIX, IWM, 
JPM, KEY, LVLT, LVS, MFE, MO, MRVL, ONNN, PBR, PCBC, QLD, RF, RFMD, 
RIMM, RRI, RSCR, SDS, SNDK, SPLS, SPY, TEVA, TLT, TNA, TZA, UYG, VXX, 
VZ, X, XLE, XLI, XOM, XRT).
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 34-62758 (August 23, 
2010), 75 FR 166 (August 27, 2010) (SR-CBOE-2010-075).
    \4\ See Securities Exchange Act Release No. 34-62878 (September 
9, 2010), 75 FR 179 (September 16, 2010) (SR-CBOE-2010-079).
---------------------------------------------------------------------------

    For those securities already approved for the new transaction fees 
as well as those that would be added by this proposed rule change, 
assuming their prices do not drop below $1, the takers of liquidity 
will receive a $0.0014 per share rebate, and makers of liquidity

[[Page 61550]]

will incur a $0.0018 charge. The new pricing strategy is designed to 
incent order routing behavior that selects CBSX as the first 
destination. By offering customers a significant rebate to ``remove'' 
liquidity, the Exchange will offer overall economic benefits far above 
those received at other markets.
    The proposed rule change also moves the list of securities subject 
to these rates from the chart of rates into footnotes, as the expanded 
list had made the chart cumbersome. The changes will take effect on 
October 1, 2010.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the 
Securities Exchange Act of 1934 (``Act''),\5\ in general, and furthers 
the objectives of Section 6(b)(4) \6\ of the Act in particular, in that 
it is designed to provide for the equitable allocation of reasonable 
dues, fees, and other charges among CBOE members and other persons 
using its facilities.

B. Self-Regulatory Organization's Statement on Burden on Competition
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

    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

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The proposed rule change is designated by the Exchange as 
establishing or changing a due, fee, or other charge, thereby 
qualifying for effectiveness on filing pursuant to Section 
19(b)(3)(A)(ii) \7\ of the Act and subparagraph (f)(2) of Rule 19b-4 
\8\ thereunder.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    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 rule-comments@sec.gov. Please include 
File Number SR-CBOE-2010-089 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-CBOE-2010-089. 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 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 such filing also will be available for 
inspection and copying at the principal office of the CBOE. 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-2010-089 and should be 
submitted on or before October 26, 2010.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-24894 Filed 10-4-10; 8:45 am]
BILLING CODE 8010-01-P
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