Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Pilot Program Related to Individual Securities Circuit Breakers, 78310-78312 [2010-31475]
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Federal Register / Vol. 75, No. 240 / Wednesday, December 15, 2010 / Notices
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 7 and Rule 19b–
4(f)(6) thereunder.8
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.9 However, Rule 19b–
4(f)(6) 10 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has requested that the
Commission waive the 30-day operative
delay.
The Commission has considered the
Exchange’s request to waive the 30-day
operative delay. The Commission
believes that waiving the 30-day
operative delay is consistent with the
protection of investors and the public
interest, as it will allow the pilot
program to continue uninterrupted,
thereby avoiding the investor confusion
that could result from a temporary
interruption in the pilot program.11
Therefore, the Commission designates
the proposed rule change to be 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. If the
Commission takes such action, the
Commission shall institute proceedings
7 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.
9 17 CFR 240.19b–4(f)(6)(iii).
10 Id.
11 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).
hsrobinson on DSK69SOYB1PROD with NOTICES
8 17
VerDate Mar<15>2010
19:10 Dec 14, 2010
Jkt 223001
to determine whether the proposed rule
change should be approved or
disapproved.
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–NYSE–2010–81 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–NYSE–2010–81. 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–NYSE–
2010–81 and should be submitted on or
before January 5, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–31477 Filed 12–14–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63498; File No. SR–CHX–
2010–24]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To Extend
the Pilot Program Related to Individual
Securities Circuit Breakers
December 9, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’), 1 and Rule 19b–4 2 thereunder,
notice is hereby given that on December
7, 2010, Chicago Stock Exchange, Inc.
(‘‘CHX’’ or the ‘‘Exchange’’) 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 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
CHX proposes to amend its rules to
extend the pilot program relating to
individual securities circuit breakers.
The text of this proposed rule change is
available on the Exchange’s Web site at
(https://www.chx.com) and in 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
CHX included statements concerning
the purpose of and basis for the
proposed rule changes and discussed
any comments it received regarding the
proposal. The text of these statements
may be examined at the places specified
in Item IV below. The CHX has prepared
summaries, set forth in sections A, B
and C below, of the most significant
aspects of such statements.
1 15
12 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00108
Fmt 4703
Sfmt 4703
2 17
E:\FR\FM\15DEN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
15DEN1
Federal Register / Vol. 75, No. 240 / Wednesday, December 15, 2010 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
In June, 2010, CHX obtained
Commission approval to amend Article
20, Rule 2 to create circuit breakers in
individual securities on a pilot basis to
end on December 10, 2010.3 Shortly
thereafter, in September, the
Commission approved another
amendment to Article 20, Rule 2 to add
securities included in the Russell 1000®
Index (‘‘Russell 1000’’) and certain
specified Exchange Traded Products
(‘‘ETP’’) to the pilot rule.4 The proposed
rule change merely extends the duration
of the pilot program until April 11,
2011. Extending the pilot for an
additional four months will allow the
Commission more time to consider the
impact of the pilot program.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b)(5) of the
Securities Exchange Act of 1934 (the
‘‘Act’’), which requires the rules of an
exchange to promote just and equitable
principles of trade, to remove
impediments to and perfect the
mechanism of a free and open market
and a national market system and, in
general, to protect investors and the
public interest. The proposed rule
change also is designed to support the
principles of Section 11A(a)(1) of the
Act in that it seeks to assure fair
competition among brokers and dealers
and among exchange markets. The
Exchange believes that the proposed
rule meets these requirements in that it
promotes uniformity across markets
concerning decisions to pause trading in
a security when there are significant
price movements.
hsrobinson on DSK69SOYB1PROD with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange 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
Written comments were neither
solicited nor received.
3 See Securities Exchange Act Release No. 62214
(June 10, 2010), 75 FR 34183 (June 16, 2010)
approving SR–CHX–2010–10.
4 See Securities Exchange Act Release No. 62884
(September 10, 2010), 75 FR 56618 (September 16,
2010) approving SR–CHX–2010–14.
VerDate Mar<15>2010
19:10 Dec 14, 2010
Jkt 223001
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 5 and Rule 19b–
4(f)(6) thereunder.6
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.7 However, Rule 19b–
4(f)(6) 8 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has requested that the
Commission waive the 30-day operative
delay.
The Commission has considered the
Exchange’s request to waive the 30-day
operative delay. The Commission
believes that waiving the 30-day
operative delay is consistent with the
protection of investors and the public
interest, as it will allow the pilot
program to continue uninterrupted,
thereby avoiding the investor confusion
that could result from a temporary
interruption in the pilot program.9
Therefore, the Commission designates
the proposed rule change to be 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. If the
Commission takes such action, the
Commission shall institute proceedings
5 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.
7 17 CFR 240.19b–4(f)(6)(iii).
8 Id.
9 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).
6 17
PO 00000
Frm 00109
Fmt 4703
Sfmt 4703
78311
to determine whether the proposed rule
change should be approved or
disapproved.
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–CHX–2010–24 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–CHX–2010–24. 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–CHX–
E:\FR\FM\15DEN1.SGM
15DEN1
78312
Federal Register / Vol. 75, No. 240 / Wednesday, December 15, 2010 / Notices
2010–24 and should be submitted on or
before January 5, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–31475 Filed 12–14–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63499; File No. SR–BX–
2010–087]
Self-Regulatory Organizations;
NASDAQ OMX BX; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Clarify Quote
Management Procedures
December 9, 2010.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 2 thereunder,
notice is hereby given that on December
6, 2010, NASDAQ OMX BX (‘‘BX’’ or
‘‘Exchange’’) 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 proposed rule change as
constituting a non-controversial rule
change under Rule 19b–4(f)(6) under the
Act,3 which renders the proposal
effective upon filing with the
Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
hsrobinson on DSK69SOYB1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing with the
Commission a proposed rule change to
clarify quote management procedures.
The text of the proposed rule change
is below. Proposed new language is in
italics and proposed deletions are in
brackets.4
*
*
*
*
*
4613. Market Maker Obligations
A member registered as an Equities
Market Maker shall engage in a course
of dealings for its own account to assist
in the maintenance, insofar as
10 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 17 CFR 240.19b–4(f)(6).
4 Changes are marked to the rule text that appears
in the electronic manual of NASDAQ found at
https://nasdaqomx.cchwallstreet.com.
VerDate Mar<15>2010
19:10 Dec 14, 2010
Jkt 223001
reasonably practicable, of fair and
orderly markets in accordance with this
Rule.
(a) Quotation Requirements and
Obligations
(1) No Change.
(2) Pricing Obligations. For NMS
stocks (as defined in Rule 600 under
Regulation NMS) an Equities Market
Maker shall adhere to the pricing
obligations established by this Rule
during Regular Market Hours.
(A)–(E) No Change.
(F) [Quotation Creation and
Adjustment. For each Issue in which an
Equities Market Maker is registered, the
System shall automatically create a
quotation for display to comply with
this Rule. System-created compliant
displayed quotations will thereafter be
allowed to rest and not be further
adjusted by the System unless the
relationship between the quotation and
its related National Best Bid or National
Best Offer, as appropriate, shrinks to the
greater of: (a) 4 percentage points, or (b)
one-quarter the applicable percentage
necessary to trigger an individual stock
trading pause as described in NASDAQ
OMX BX Rule 4120(a)(11), or expands
to within that same percentage less
0.5%, whereupon the System will
immediately re-adjust and display the
Equities Market Maker’s quote to the
appropriate Designated Percentage set
forth in section (D) above. As the
System allows for multiple attributable
quotations by a Equities Market Maker
in an issue, quotations originally
entered by Equities Market Makers shall
be allowed to move freely towards or
away from the National Best Bid or
National Best Offer, as appropriate, for
potential execution.] Reserved.
(G) [Quotation Refresh After
Execution. In the event of an execution
against a System-created compliant
quotation, the Equities Market Maker
shall have its quote refreshed by the
System on the executed side of the
market at the applicable Designated
Percentage away from the then National
Best Bid (Offer) (or if no National Best
Bid (Offer), the last reported sale).]
Reserved.
(H)–(K) No Change.
(b)–(e) No Change.
*
*
*
*
*
4752. Opening Process; Opening and
Closing Price
(a) Trading Prior To Normal Market
Hours. The system shall process all
eligible Quotes/Orders at 8 a.m.:
(1) At 8 a.m., the system shall add in
time priority all eligible Orders in
accordance with each order’s defined
characteristics.
PO 00000
Frm 00110
Fmt 4703
Sfmt 4703
(2) Quoting Market Participants must
enter quotations in compliance with
Rule 4613 at 9:25 a.m. until market
open, and at all times thereafter during
Regular Market Hours. [may instruct the
Exchange to open their Quotes at 9:25
a.m. at price of $0.01 (bid) and $999,999
(offer) and a size of one round lot in
order to provide a two-sided quotation.
In all other cases, the quote of a
participant shall be at the price and size
entered by the participant]
(3) No Change.
(b) No Change.
*
*
*
*
*
(b) Not applicable.
(c) Not applicable.
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Recently, the Exchange adopted rules
enhancing market maker quotation
obligations. In connection with the
implementation with these new
standards, the Exchange proposes to
clarify quote management procedures.
Under the proposal, market makers
themselves will be responsible for
maintaining quotations at prices that
comply with the new minimum
standards set forth in Rule 4613. The
Exchange will provide no automated
system to create or adjust market maker
quotes to ensure compliance, and the
responsibility to maintain required
quote prices will be responsibility of the
market maker. In addition, the Exchange
is removing and updating language from
Rule 4752 to make explicit the
requirement to comply with minimum
quote prices.
The Exchange believes that the
proposal will enhance compliance with
the new market maker quotation
standards.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
E:\FR\FM\15DEN1.SGM
15DEN1
]]>Agencies
[Federal Register Volume 75, Number 240 (Wednesday, December 15, 2010)]
[Notices]
[Pages 78310-78312]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-31475]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63498; File No. SR-CHX-2010-24]
Self-Regulatory Organizations; Chicago Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Extend the Pilot Program Related to Individual Securities Circuit
Breakers
December 9, 2010.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''), \1\ and Rule 19b-4 \2\ thereunder, notice is hereby given
that on December 7, 2010, Chicago Stock Exchange, Inc. (``CHX'' or the
``Exchange'') 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 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
CHX proposes to amend its rules to extend the pilot program
relating to individual securities circuit breakers. The text of this
proposed rule change is available on the Exchange's Web site at (https://www.chx.com) and in 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 CHX included statements
concerning the purpose of and basis for the proposed rule changes and
discussed any comments it received regarding the proposal. The text of
these statements may be examined at the places specified in Item IV
below. The CHX has prepared summaries, set forth in sections A, B and C
below, of the most significant aspects of such statements.
[[Page 78311]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
In June, 2010, CHX obtained Commission approval to amend Article
20, Rule 2 to create circuit breakers in individual securities on a
pilot basis to end on December 10, 2010.\3\ Shortly thereafter, in
September, the Commission approved another amendment to Article 20,
Rule 2 to add securities included in the Russell 1000[supreg] Index
(``Russell 1000'') and certain specified Exchange Traded Products
(``ETP'') to the pilot rule.\4\ The proposed rule change merely extends
the duration of the pilot program until April 11, 2011. Extending the
pilot for an additional four months will allow the Commission more time
to consider the impact of the pilot program.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 62214 (June 10,
2010), 75 FR 34183 (June 16, 2010) approving SR-CHX-2010-10.
\4\ See Securities Exchange Act Release No. 62884 (September 10,
2010), 75 FR 56618 (September 16, 2010) approving SR-CHX-2010-14.
---------------------------------------------------------------------------
2. Statutory Basis
The proposed rule change is consistent with Section 6(b)(5) of the
Securities Exchange Act of 1934 (the ``Act''), which requires the rules
of an exchange to promote just and equitable principles of trade, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system and, in general, to protect
investors and the public interest. The proposed rule change also is
designed to support the principles of Section 11A(a)(1) of the Act in
that it seeks to assure fair competition among brokers and dealers and
among exchange markets. The Exchange believes that the proposed rule
meets these requirements in that it promotes uniformity across markets
concerning decisions to pause trading in a security when there are
significant price movements.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange 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
Written comments were neither solicited nor 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 \5\ and Rule 19b-
4(f)(6) thereunder.\6\
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 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.
---------------------------------------------------------------------------
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.\7\
However, Rule 19b-4(f)(6) \8\ permits the Commission to designate a
shorter time if such action is consistent with the protection of
investors and the public interest. The Exchange has requested that the
Commission waive the 30-day operative delay.
---------------------------------------------------------------------------
\7\ 17 CFR 240.19b-4(f)(6)(iii).
\8\ Id.
---------------------------------------------------------------------------
The Commission has considered the Exchange's request to waive the
30-day operative delay. The Commission believes that waiving the 30-day
operative delay is consistent with the protection of investors and the
public interest, as it will allow the pilot program to continue
uninterrupted, thereby avoiding the investor confusion that could
result from a temporary interruption in the pilot program.\9\
Therefore, the Commission designates the proposed rule change to be
operative upon filing.
---------------------------------------------------------------------------
\9\ 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).
---------------------------------------------------------------------------
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. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule change should be approved or
disapproved.
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-CHX-2010-24 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-CHX-2010-24. 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-CHX-
[[Page 78312]]
2010-24 and should be submitted on or before January 5, 2011.
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\10\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
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pursuant to delegated authority.\10\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-31475 Filed 12-14-10; 8:45 am]
BILLING CODE 8011-01-P
