Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Related to the Penny Pilot Program, 77019-77021 [2010-31049]
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mstockstill on DSKH9S0YB1PROD with NOTICES
Federal Register / Vol. 75, No. 237 / Friday, December 10, 2010 / Notices
Based on the above evaluation, the
NRC staff finds that the 10 CFR
51.22(c)(25)(i) provision is met.
(b) 10 CFR 51.22(c)(25)(ii)—There is
no significant change in the types or
significant increase in the amounts of
any effluents that may be released
offsite.
The proposed exemption, which
would change the method of monitoring
thermal performance of the HSMs,
would not involve any changes to
effluents. Therefore, there is no
significant change in the types or
increase in the amounts of effluents that
may be released offsite.
(c) 10 CFR 51.22(c)(25)(iii)—There is
no significant increase in individual or
cumulative public or occupational
radiation exposure.
The proposed exemption, which
would change the method of monitoring
thermal performance of the HSMs,
would not involve any changes to
public or occupational radiation
exposures. Therefore, there is no
significant increase in individual or
cumulative public or occupational
radiation exposure.
(d) 10 CFR 51.22(c)(25)(iv)—There is
no significant construction impact.
The proposed exemption, which
would change the method of monitoring
thermal performance of the HSMs,
would not involve any construction
activities. Therefore, there is no
significant construction impact.
(e) 10 CFR 51.22(c)(25)(v)—There is
no significant increase in the potential
for or consequences from radiological
accidents.
The proposed exemption, which
would change the method of monitoring
thermal performance of the HSMs,
would not involve any changes to the
design, safety limits, or safety analysis
assumptions associated with the cask
system and would not create any new
accident precursors. Therefore, there is
no significant increase in the potential
for or consequences from radiological
accidents.
As this exemption request meets all of
the provisions in 10 CFR 51.22(c)(25)(i)–
(v), and the exemption request is of a
type listed in 10 CFR 51.22(c)(25)(vi),
this action meets the eligibility criteria
for the categorical exclusion set forth in
10 CFR 51.22(c)(25). The NRC has found
that granting exemptions that meet the
provisions in 10 CFR 51.22(c)(25) is a
category of actions that does not result
in any significant effect, either
individually or cumulatively, on the
human environment.
The proposed exemption would allow
NextEra to discontinue the daily visual
inspection of the HSM air vents to
ensure they are not blocked and instead
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18:39 Dec 09, 2010
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use a daily temperature measurement
program as an alternate method of
monitoring HSM thermal performance.
This proposed change to the method of
monitoring HSM thermal performance
does not involve security matters and
would not impact the common defense
and security of the United States.
Given the above considerations, this
exemption will not endanger life or
property or the common defense and
security.
Otherwise in the Public Interest
In its exemption request, NextEra
noted that it currently complies with TS
5.2.5.b in CoC 72–1030, Amendment
No. 0, by using cameras to perform the
visual surveillance of the HSM vents
remotely. However, during adverse
winter weather conditions, snow and
ice obstruct the camera lenses and
prevent viewing the HSM vents. As a
result, personnel must conduct local
inspections of the HSM vents and use a
ladder to access the top vents for
inspection, which can pose a safety
hazard to the personnel conducting
these inspections during adverse winter
weather conditions. The licensee states
that the purpose of the exemption
request is to eliminate the potential for
injuries that could occur to personnel
when accessing the HSM vents to
perform visual inspections under
adverse winter weather conditions.
The exemption, by removing the
requirement for the daily visual
inspection of the HSM vents and thus
reducing the potential for unnecessary
falls or injuries to personnel conducting
the inspections during adverse winter
weather conditions, is consistent with
NRC’s mission to protect public health
and safety. Therefore, the exemption is
in the public interest.
4.0
Conclusion
Based on the foregoing
considerations, the NRC has determined
that, pursuant to 10 CFR 72.7, the
exemption is authorized by law, will not
endanger life or property or the common
defense and security, and is otherwise
in the public interest. Therefore, the
NRC hereby grants NextEra an
exemption from the requirements in 10
CFR 72.212(b)(2)(i)(A), 10 CFR
72.212(b)(7), and 10 CFR 72.214 for the
Seabrook Station ISFSI, subject to the
following conditions:
(1) The exemption pertains only to the
visual inspection requirement in TS
5.2.5.b in CoC 72–1030, Amendment
No. 0, and NextEra must implement the
daily temperature measurement
program, as proposed in TS 5.2.5.c in
Amendment No. 1 to CoC 72–1030, as
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Sfmt 4703
77019
an alternate method of monitoring HSM
thermal performance.
(2) If comments arise during the
rulemaking concurrence process or if
the NRC receives significant adverse
comments during the public comment
period for the future proposed rule and
direct final rule for Amendment No. 1
to CoC 72–1030, and as a result of such
comments, changes to the HSM thermal
monitoring program in TS 5.2.5.c are
required, NextEra will then be required
to address those changes in a manner
deemed satisfactory to NRC staff.
The NRC has determined that this
action meets the eligibility criteria for
categorical exclusion set forth in 10 CFR
51.22(c)(25)(vi)(C). Therefore, pursuant
to 10 CFR 51.22(b), no environmental
impact statement or environmental
assessment need be prepared in
connection with the granting of this
exemption.
This exemption is effective upon
issuance.
Dated at Rockville, Maryland, this 2nd day
of December 2010.
For the Nuclear Regulatory Commission.
Douglas W. Weaver,
Deputy Director, Division of Spent Fuel
Storage and Transportation, Office of Nuclear
Material Safety and Safeguards.
[FR Doc. 2010–31080 Filed 12–9–10; 8:45 am]
BILLING CODE 7590–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63431; File No. SR–C2–
2010–009]
Self-Regulatory Organizations; C2
Options Exchange, Incorporated;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change Related to the Penny Pilot
Program
December 3, 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 December
2, 2010, the C2 Options Exchange,
Incorporated (‘‘Exchange’’ or ‘‘C2’’) 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 Exchange. The
Exchange has designated the proposal as
a ‘‘non-controversial’’ proposed rule
change pursuant to Section
19(b)(3)(A)(iii) of the Act 3 and Rule
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
2 17
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77020
Federal Register / Vol. 75, No. 237 / Friday, December 10, 2010 / Notices
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 is proposing to amend
its rules relating to the Penny Pilot
Program. The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.cboe.org/legal/
crclc2rulefiling.aspx), at the Exchange’s
Office of the Secretary, 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 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.
mstockstill on DSKH9S0YB1PROD with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
Rule 6.4—Minimum Increments for Bids
and Offers to ensure that the C2 rule
language regarding the Penny Pilot
Program tracks that of the language of
Chicago Board Options Exchange,
Incorporated (‘‘CBOE’’) regarding
CBOE’s Penny Pilot Program, as relevant
to C2. CBOE recently proposed a rule
change to amend its Rule 6.42 to extend
CBOE’s Penny Pilot Program’s
expiration date.5 C2 hereby amends its
Rule 6.4 to further clarify and ensure
that the C2 Penny Pilot Program mirrors
that of CBOE, as applicable.
CBOE’s Penny Pilot Program is
scheduled to expire on December 31,
2010. CBOE proposed to extend the
Penny Pilot Program until December 31,
2011.6 C2 desires to clarify that C2 also
wants to include December 31, 2011 as
the expiration date for the C2 Penny
Pilot Program. Extending the Pilot
Program will allow for further analysis
of the Pilot Program and a
4 17
CFR 240.19b–4(f)(6).
Securities Exchange Act Release No. 34–
63386 (November 29, 2010).
6 Id.
5 See
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determination of how the Pilot Program
should be structured in the future.
During this extension of the Pilot
Program, C2 may replace any option
class which is currently included in the
Pilot Program and which is delisted
with the next most actively-traded,
multiple-listed option class that is not
yet participating in the Pilot Program
(‘‘replacement class’’). Any replacement
class would be determined based on
national average daily volume in the
preceding six months, and would be
added on the second trading day
following January 1, 2011 and July 1,
2011.7 C2 will announce any
replacement classes by circular.
C2 is specifically authorized to act
jointly with the other options exchanges
participating in the Penny Pilot Program
in identifying any replacement class. C2
will submit to the SEC semi-annual
reports that will analyze the impact of
the Penny Pilot on market quality and
systems capacity. This report will
include, but is not limited to the
following: (1) Data and analysis of the
number of quotations generated for
options included in the report; (2) an
assessment of the quotation spreads for
the options included in the report; (3)
an assessment of the impact of the Pilot
Program on its automated systems; (4)
data reflecting the size and depth of
markets; and (5) any capacity problems
or other problems that arose related to
the operation of the Pilot Program and
how the Exchange addressed them.
2. Statutory Basis
The Exchange believes the rule
proposal is consistent with the
Securities Exchange Act of 1934 (the
‘‘Act’’) and the rules and regulations
under the Act applicable to a national
securities exchange and, in particular,
the requirements of Section 6(b) of the
Act.8 Specifically, the Exchange
believes that the proposed rule change
is consistent with the Section 6(b)(5)
Act 9 requirements that the rules of an
exchange be designed to promote just
and equitable principles of trade, to
prevent fraudulent and manipulative
acts and, in general, to protect investors
and the public interest. In particular, the
proposed rule change allows for an
extension of the Penny Pilot Program for
the benefit of market participants.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
C2 does not believe that the proposed
rule change will impose 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
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 proposed rule
change: (1) Does not significantly affect
the protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) by its terms does not become
operative for 30 days after the date of
this filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 10 and
Rule 19b–4(f)(6) thereunder.11
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–C2–2010–009 on the
subject line.
10 15
7 The
month immediately preceding their
addition to the Pilot Program, i.e., December or
June, would not be used for purposes of the six
month analysis. For example, a replacement class
to be added on the second trading day following
January 1 would be identified based on OCC
volume data from June 1 through November 30.
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(5).
PO 00000
Frm 00071
Fmt 4703
Sfmt 4703
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 to
provide the Commission with 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. C2
has satisfied this requirement.
11 17
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Federal Register / Vol. 75, No. 237 / Friday, December 10, 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.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63436; File No. SR–Phlx–
2010–166]
Self-Regulatory Organizations;
NASDAQ OMX PHLX, LLC; Notice of
All submissions should refer to File
Filing and Immediate Effectiveness of
Number SR–C2–2010–009. This file
Proposed Rule Change Relating to the
number should be included on the
subject line if e-mail is used. To help the Options Regulatory Fee
Commission process and review your
December 6, 2010.
comments more efficiently, please use
Pursuant to Section 19(b)(1) of the
only one method. The Commission will
Securities Exchange Act of 1934
post all comments on the Commission’s (‘‘Act’’) 1 and Rule 19b–4 thereunder,2
Internet Web site https://www.sec.gov/
notice is hereby given that on November
rules/sro.shtml. Copies of the
24, 2010, NASDAQ OMX PHLX, Inc.
submission, all subsequent
[sic] (‘‘Phlx’’ or ‘‘Exchange’’) filed with
amendments, all written statements
the Securities and Exchange
with respect to the proposed rule
Commission (‘‘SEC’’ or ‘‘Commission’’)
change that are filed with the
the proposed rule change as described
Commission, and all written
in Items I, II, and III below, which Items
communications relating to the
have been prepared by the Exchange.
proposed rule change between the
The Commission is publishing this
Commission and any person, other than notice to solicit comments on the
proposed rule change from interested
those that may be withheld from the
persons.
public in accordance with the
provisions of 5 U.S.C. 552, will be
I. Self-Regulatory Organization’s
available for Web site viewing and
Statement of the Terms of Substance of
printing in the Commission’s Public
the Proposed Rule Change
Reference Room, 100 F Street, NE.,
The Exchange proposes to increase its
Washington, DC 20549, on official
Options Regulatory Fee.
business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also
While changes to the Fee Schedule
will be available for inspection and
pursuant to this proposal are effective
copying at the principal office of the
upon filing, the Exchange has
Exchange. All comments received will
designated these changes to be operative
be posted without change; the
on January 3, 2011.
Commission does not edit personal
The text of the proposed rule change
identifying information from
is available on the Exchange’s Web site
submissions. You should submit only
at https://www.nasdaqtrader.com/
information that you wish to make
micro.aspx?id=PHLXRulefilings, at the
available publicly. All submissions
principal office of the Exchange, at the
should refer to File Number SR–C2–
Commission’s Public Reference Room,
2010–009 and should be submitted on
and on the Commission’s Web site at
or before January 3, 2011.
https://www.sec.gov.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–31049 Filed 12–9–10; 8:45 am]
mstockstill on DSKH9S0YB1PROD with NOTICES
BILLING CODE 8011–01–P
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.
1 15
12 17
CFR 200.30–3(a)(12).
VerDate Mar<15>2010
18:39 Dec 09, 2010
2 17
Jkt 223001
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00072
Fmt 4703
Sfmt 4703
77021
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to amend the Options
Regulatory Fee (‘‘ORF’’) to increase the
current $0.0030 per contract fee to each
member for all options transactions
executed or cleared by the member that
are cleared by The Options Clearing
Corporation (‘‘OCC’’) in the customer
range (i.e., that clear in the customer
account of the member’s clearing firm at
OCC). The Exchange proposes instead to
assess a $0.0035 per contract ORF. The
Exchange monitors the amount of
revenue collected from the ORF to
ensure that it, in combination with its
other regulatory fees and fines, does not
exceed regulatory costs. The purpose of
the proposed rule change is to recoup
increased regulatory expenses while
also ensuring that the ORF would not
exceed costs.
The ORF is imposed upon all
transactions executed by a member,
even if such transactions do not take
place on the Exchange.3 The ORF also
includes options transactions that are
not executed by an Exchange member
but are ultimately cleared by an
Exchange member.4 The ORF is not
charged for member options
transactions because members incur the
costs of owning memberships and
through their memberships are charged
transaction fees, dues and other fees that
are not applicable to non-members. The
dues and fees paid by members go into
the general funds of the Exchange, a
portion of which is used to help pay the
costs of regulation. The ORF is collected
indirectly from members through their
3 The ORF applies to all ‘‘C’’ account origin code
orders executed by a member on the Exchange.
Exchange rules require each member to record the
appropriate account origin code on all orders at the
time of entry in order to allow the Exchange to
properly prioritize and route orders and assess
transaction fees pursuant to the rules of the
Exchange and report resulting transactions to the
OCC. See Exchange Rule 1063, Responsibilities of
Floor Brokers, and Options Floor Procedure Advice
F–4, Orders Executed as Spreads, Straddles,
Combinations or Synthetics and Other Order Ticket
Marking Requirements. The Exchange represents
that it has surveillances in place to verify that
members mark orders with the correct account
origin code.
4 In the case where one member both executes a
transaction and clears the transaction, the ORF is
assessed to the member only once on the execution.
In the case where one member executes a
transaction and a different member clears the
transaction, the ORF is assessed only to the member
who executes the transaction and is not assessed to
the member who clears the transaction. In the case
where a non-member executes a transaction and a
member clears the transaction, the ORF is assessed
to the member who clears the transaction.
E:\FR\FM\10DEN1.SGM
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]]>Agencies
[Federal Register Volume 75, Number 237 (Friday, December 10, 2010)]
[Notices]
[Pages 77019-77021]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-31049]
=======================================================================
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63431; File No. SR-C2-2010-009]
Self-Regulatory Organizations; C2 Options Exchange, Incorporated;
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change
Related to the Penny Pilot Program
December 3, 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 December 2, 2010, the C2 Options Exchange, Incorporated
(``Exchange'' or ``C2'') 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
Exchange. The Exchange has designated the proposal as a ``non-
controversial'' proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \3\ and Rule
[[Page 77020]]
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 is proposing to amend its rules relating to the Penny
Pilot Program. The text of the proposed rule change is available on the
Exchange's Web site (https://www.cboe.org/legal/crclc2rulefiling.aspx),
at the Exchange's Office of the Secretary, 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 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
The Exchange proposes to amend Rule 6.4--Minimum Increments for
Bids and Offers to ensure that the C2 rule language regarding the Penny
Pilot Program tracks that of the language of Chicago Board Options
Exchange, Incorporated (``CBOE'') regarding CBOE's Penny Pilot Program,
as relevant to C2. CBOE recently proposed a rule change to amend its
Rule 6.42 to extend CBOE's Penny Pilot Program's expiration date.\5\ C2
hereby amends its Rule 6.4 to further clarify and ensure that the C2
Penny Pilot Program mirrors that of CBOE, as applicable.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 34-63386 (November
29, 2010).
---------------------------------------------------------------------------
CBOE's Penny Pilot Program is scheduled to expire on December 31,
2010. CBOE proposed to extend the Penny Pilot Program until December
31, 2011.\6\ C2 desires to clarify that C2 also wants to include
December 31, 2011 as the expiration date for the C2 Penny Pilot
Program. Extending the Pilot Program will allow for further analysis of
the Pilot Program and a determination of how the Pilot Program should
be structured in the future.
---------------------------------------------------------------------------
\6\ Id.
---------------------------------------------------------------------------
During this extension of the Pilot Program, C2 may replace any
option class which is currently included in the Pilot Program and which
is delisted with the next most actively-traded, multiple-listed option
class that is not yet participating in the Pilot Program (``replacement
class''). Any replacement class would be determined based on national
average daily volume in the preceding six months, and would be added on
the second trading day following January 1, 2011 and July 1, 2011.\7\
C2 will announce any replacement classes by circular.
---------------------------------------------------------------------------
\7\ The month immediately preceding their addition to the Pilot
Program, i.e., December or June, would not be used for purposes of
the six month analysis. For example, a replacement class to be added
on the second trading day following January 1 would be identified
based on OCC volume data from June 1 through November 30.
---------------------------------------------------------------------------
C2 is specifically authorized to act jointly with the other options
exchanges participating in the Penny Pilot Program in identifying any
replacement class. C2 will submit to the SEC semi-annual reports that
will analyze the impact of the Penny Pilot on market quality and
systems capacity. This report will include, but is not limited to the
following: (1) Data and analysis of the number of quotations generated
for options included in the report; (2) an assessment of the quotation
spreads for the options included in the report; (3) an assessment of
the impact of the Pilot Program on its automated systems; (4) data
reflecting the size and depth of markets; and (5) any capacity problems
or other problems that arose related to the operation of the Pilot
Program and how the Exchange addressed them.
2. Statutory Basis
The Exchange believes the rule proposal is consistent with the
Securities Exchange Act of 1934 (the ``Act'') and the rules and
regulations under the Act applicable to a national securities exchange
and, in particular, the requirements of Section 6(b) of the Act.\8\
Specifically, the Exchange believes that the proposed rule change is
consistent with the Section 6(b)(5) Act \9\ requirements that the rules
of an exchange be designed to promote just and equitable principles of
trade, to prevent fraudulent and manipulative acts and, in general, to
protect investors and the public interest. In particular, the proposed
rule change allows for an extension of the Penny Pilot Program for the
benefit of market participants.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
C2 does not believe that the proposed rule change will impose 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
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 proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6)
thereunder.\11\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to provide the Commission
with 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. C2 has satisfied this requirement.
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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-C2-2010-009 on the subject line.
[[Page 77021]]
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-C2-2010-009. 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 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-C2-2010-009 and should be submitted on
or before January 3, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-31049 Filed 12-9-10; 8:45 am]
BILLING CODE 8011-01-P
