Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to a Fee Waiver, 79058-79060 [2010-31683]
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79058
Federal Register / Vol. 75, No. 242 / Friday, December 17, 2010 / Notices
practices, promote just and equitable
principles of trade, foster cooperation
and coordination with persons engaged
in regulating, clearing, settling,
processing information with respect to,
and facilitating transactions in
securities, remove impediments to and
perfect the mechanism of a free and
open market and a national market
system, and, in general, protect
investors and the public interest.
NASDAQ believes that the proposed
rule change is consistent with these
requirements because exempting
member firms that are entirely
withdrawing as a market maker in a
Qualified Security from the thirty-day
written notice requirement of Rule
7018(i)(3) eliminates an inconsistency
in the current rules concerning the
notice a market maker is required to
provide NASDAQ when it determines to
withdraw from making a market in
Qualified Securities. NASDAQ believes
a member firm should be able withdraw
from making a market in any security
under the terms of Rule 4620(a) and not
be subject to an additional notice
requirement that was designed to apply
to member firms that would continue to
participate as a registered market maker
in the security. Further, NASDAQ does
not believe that compelling a member
firm wishing to withdraw as a market
maker in a Qualified Security to
participate as a market maker and DLP
in that security during the thirty-day
notice period is beneficial to the
member firm or the quality of the
market in the Qualified Security.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
NASDAQ does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act, as amended.
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.
emcdonald on DSK2BSOYB1PROD with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change 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, it has
become effective pursuant to Section
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16:45 Dec 16, 2010
Jkt 223001
19(b)(3)(A)10 of the Act and Rule 19b–
4(f)(6) thereunder.11 At any time within
60 days of the filing of the proposed rule
change, the Commission may summarily
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.
NASDAQ has asked that the
Commission waive the 30-day preoperative waiting period contained in
Rule 19b–4(f)(6)(iii).12 NASDAQ has
requested such waiver to quickly cure
an unintended inconsistency in the
notice requirements for withdrawing as
a market maker in certain securities.
Based on NASDAQ’s representations
that the proposed rule change is noncontroversial and that no novel issues
are presented in this proposed rule
change, the Commission sees no reason
to delay implementation of the
proposed rule change. The Commission
believes it is consistent with the
protection of investors and the public
interest to waive the 30-day operative
delay, and hereby grants such waiver.13
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–NASDAQ–2010–164 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–NASDAQ–2010–164. 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
10 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
12 17 CFR 240.19b–4(f)(6)(iii).
13 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule change’s impact on efficiency,
competition, and capital formation. 15 U.S.C. 78c(f).
11 17
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Fmt 4703
Sfmt 4703
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
3 p.m. Copies of such filing also will be
available for inspection and copying at
the principal offices 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–NASDAQ–2010–164, and
should be submitted on or before
January 7, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–31682 Filed 12–16–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63531; File No. SR–ISE–
2010–109]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to a Fee Waiver
December 10, 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 November
30, 2010, the International Securities
Exchange, LLC (the ‘‘Exchange’’ or the
‘‘ISE’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change, as described
in Items I and II below, which items
have been prepared by the selfregulatory organization. The
Commission is publishing this notice to
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\17DEN1.SGM
17DEN1
Federal Register / Vol. 75, No. 242 / Friday, December 17, 2010 / Notices
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 ISE is proposing to amend its
Schedule of Fees regarding its
Competitive Market Maker (‘‘CMM’’)
Inactivity Fee. The text of the proposed
rule change is available on the
Exchange’s Web site (https://
www.ise.com), at the principal office of
the Exchange, 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 these statements may be examined at
the places specified in Item IV below.
The self-regulatory organization has
prepared summaries, set forth in
sections A, B and C below, of the most
significant aspects of such statements.
emcdonald on DSK2BSOYB1PROD with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
ISE proposes to amend its Schedule of
Fees regarding its CMM Inactivity Fee.
ISE currently charges the owner 3 of a
CMM membership an Inactivity Fee of
$25,000 a month per trading right if the
owner does not (i) itself operate the
CMM membership, (ii) lease the CMM
Trading Right to another member which
operates the CMM membership, or (iii)
avail itself to one of the exemptions
specifically authorized in the Notes to
the CMM Inactivity Fee on the Schedule
of Fees. Pursuant to ISE Rules, however,
a CMM Member may not operate more
than 10 CMM Trading Rights.4 A CMM
that has more than 10 trading rights
must lease the additional trading rights
or else be subject to the CMM Inactivity
Fee.
The Exchange has developed an
enhanced technology trading platform
and will migrate from its current trading
system to the new trading system over
3 The Note to the CMM Inactivity Fee on the
Schedule of Fees provides that the fee applies to the
owner of the CMM membership, unless the inactive
CMM membership is subject to a lease that was
approved by the Exchange prior to the effective date
of the fee, in which case the fee would apply to the
lessee.
4 See ISE Rule 303(b).
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16:45 Dec 16, 2010
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time (the ‘‘Transition Period’’). The
Exchange believes that during the
Transition Period it would be
impractical for a firm to become a new
market maker on the Exchange due to
the level of financial and technical
resources that a new market maker
would be required to commit. As a
result, CMMs who are actively seeking
to lease their trading rights during the
Transition Period are unlikely to find a
firm that would be willing to commit
such resources. Therefore, ISE proposes
to waive its current CMM Inactivity Fee
until the new trading system has been
completely rolled out.5 This proposed
fee waiver would only apply to trading
rights in excess of the 10 trading rights
that a CMM is permitted to operate
provided that CMM Member owns more
than 10 trading rights.
2. Basis
The basis under the Securities
Exchange Act of 1934 (the ‘‘Exchange
Act’’) for this proposed rule change is
the requirement under Section 6(b)(4)6
that an exchange have an equitable
allocation of reasonable dues, fees and
other charges among its members and
other persons using its facilities. In
particular, the proposed fee waiver is
simply a recognition of the fact that it
would be impractical for a new firm to
become a member of the Exchange
during the Transition Period, and thus,
serves to effectively maintain low fees
during this time.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
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 has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
5 The Exchange has been working with its
members to assure a smooth transition to the new
trading platform and will continue to do so up to
the launch of the new technology and during the
Transition Period.
6 15 U.S.C. 78f(b)(4).
PO 00000
Frm 00095
Fmt 4703
Sfmt 4703
79059
19(b)(3)(A)(ii) of the Act.7 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. If the Commission
takes such action, the Commission shall
institute proceedings to determine
whether the proposed rule 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
No. SR–ISE–2010–109 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–ISE–2010–109. 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 Commissions
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 such filing
also will be available for inspection and
7 15
E:\FR\FM\17DEN1.SGM
U.S.C. 78s(b)(3)(A)(ii).
17DEN1
79060
Federal Register / Vol. 75, No. 242 / Friday, December 17, 2010 / Notices
copying at the principal office of the
ISE. 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–ISE–2010–109 and should
be submitted by January 7, 2011.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.8
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010–31683 Filed 12–16–10; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–63532; File No. SR–NYSE–
2010–77]
Self-Regulatory Organizations; Notice
of Filing of Proposed Rule Change, as
Modified by Amendment No. 1, by New
York Stock Exchange LLC in
Connection with the Proposal of NYSE
Euronext to Eliminate the Requirement
of an 80% Supermajority Vote to
Amend or Repeal Section 3.1 of its
Bylaws
December 13, 2010.
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that on November
30, 2010, New York Stock Exchange
LLC (‘‘NYSE’’ 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 self-regulatory
organization. On December 3, 2010, the
Exchange filed Amendment No. 1 to the
proposed rule change. The Commission
is publishing this notice to solicit
comments on the proposed rule change
from interested persons.
emcdonald on DSK2BSOYB1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is submitting this rule
filing in connection with the proposal of
its ultimate parent, NYSE Euronext (the
‘‘Corporation’’),4 to amend its bylaws
(the ‘‘Bylaws’’) to eliminate the
8 17
CFR 200.30–3(a)(12).
U.S.C.78s(b)(1).
2 15 U.S.C. 78a.
3 17 CFR 240.19b–4.
4 The NYSE, a New York limited liability
company, is an indirect wholly-owned subsidiary of
NYSE Euronext.
1 15
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16:45 Dec 16, 2010
Jkt 223001
requirement that the affirmative vote of
the holders of not less than 80% of the
votes entitled to be cast by the holders
of the outstanding capital stock of the
Corporation entitled to vote generally in
the election of directors is necessary for
the stockholders to amend or repeal
Article III, Section 3.1 of the Bylaws.
The text of the proposed rule change is
available at the Exchange, the
Commission’s Public Reference Room,
and the Exchange’s website at
www.nyse.com.
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
The Exchange is submitting this rule
filing in connection with the proposal of
the Corporation, which is the ultimate
parent company of the Exchange, to
amend its Bylaws to eliminate the
requirement that the affirmative vote of
the holders of not less than 80% of the
votes entitled to be cast by the holders
of the outstanding capital stock of the
Corporation entitled to vote generally in
the election of directors is necessary for
the stockholders to amend or repeal
Article III, Section 3.1 of the Bylaws
relating to the general powers of the
Board of Directors of the Corporation
(‘‘Board’’). Section 3.1 also provides that
the number of Directors on the Board
shall be fixed and changed from time to
time exclusively by the Board pursuant
to a resolution adopted by two-thirds of
the directors then in office. Elimination
of this 80% ‘‘supermajority’’ voting
provision as it relates to Section 3.1 will
have the effect that only a majority of
the same number of votes entitled to be
cast will be required to amend or repeal
this section of the Bylaws.
Background
In connection with its 2010 Annual
Meeting, the Corporation received a
stockholder proposal to eliminate the
PO 00000
Frm 00096
Fmt 4703
Sfmt 4703
supermajority voting requirements
necessary to amend certain provisions
of the Corporation’s certificate of
incorporation (‘‘Certificate’’) and Bylaws.
Following receipt of that proposal, the
Corporation began discussions with its
regulators regarding the possibility of
amending its Certificate and Bylaws to
implement the proposal. While
recognizing the interest of stockholders
in simple majority voting to amend
these basic governing documents, the
Corporation was also cognizant of the
fact that, at the time of the merger
between Euronext and NYSE Group that
created the Corporation, both European
and U.S regulators were concerned
about insuring a balance of U.S. and
European perspectives in the
governance of the newly formed entity.
The regulators and the respective boards
of directors viewed the combination of
Euronext and NYSE Group as a ‘‘merger
of equals,’’ and balanced representation
between American and European
representatives on the Board was the
primary means by which the principle
of equality was to be implemented. The
regulatory authorities approved
supermajority voting to amend the
governance provisions in the Certificate
and Bylaws considered to be most
important in maintaining this balance.
Following further discussions
between the Corporation and its
regulators, the regulators have indicated
that they would not oppose a change to
a simple majority provision for certain
of the provisions currently subject to an
80% voting requirement, including
Article III, Section 3.1 of the Bylaws.
Section 3.1 reads as follows:
‘‘General Powers. The business and
affairs of the Corporation shall be
managed by or under the direction of
the Board of Directors. The number of
directors on the Board of Directors shall
be fixed and changed from time to time
exclusively by the Board of Directors
pursuant to a resolution adopted by
two-thirds of the directors then in office.
In addition to the powers and
authorities expressly conferred upon
them by these Bylaws, the Board of
Directors may exercise all such powers
of the Corporation and do all such
lawful acts and things as are not by
statute or by the Certificate of
Incorporation or by these Bylaws
required to be exercised or done by the
stockholders. A director need not be a
stockholder.’’
The purpose of this proposed rule
change is to implement the decision of
the Board to remove the 80%
supermajority voting requirement with
respect to the aforementioned Bylaw
provision.
E:\FR\FM\17DEN1.SGM
17DEN1
]]>Agencies
[Federal Register Volume 75, Number 242 (Friday, December 17, 2010)]
[Notices]
[Pages 79058-79060]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-31683]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-63531; File No. SR-ISE-2010-109]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to a Fee Waiver
December 10, 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 November 30, 2010, the International Securities Exchange, LLC
(the ``Exchange'' or the ``ISE'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change, as
described in Items I and II below, which items have been prepared by
the self-regulatory organization. The Commission is publishing this
notice to
[[Page 79059]]
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 ISE is proposing to amend its Schedule of Fees regarding its
Competitive Market Maker (``CMM'') Inactivity Fee. The text of the
proposed rule change is available on the Exchange's Web site (https://www.ise.com), at the principal office of the Exchange, 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 these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
has prepared summaries, set forth in sections A, B and C below, of the
most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
ISE proposes to amend its Schedule of Fees regarding its CMM
Inactivity Fee. ISE currently charges the owner \3\ of a CMM membership
an Inactivity Fee of $25,000 a month per trading right if the owner
does not (i) itself operate the CMM membership, (ii) lease the CMM
Trading Right to another member which operates the CMM membership, or
(iii) avail itself to one of the exemptions specifically authorized in
the Notes to the CMM Inactivity Fee on the Schedule of Fees. Pursuant
to ISE Rules, however, a CMM Member may not operate more than 10 CMM
Trading Rights.\4\ A CMM that has more than 10 trading rights must
lease the additional trading rights or else be subject to the CMM
Inactivity Fee.
---------------------------------------------------------------------------
\3\ The Note to the CMM Inactivity Fee on the Schedule of Fees
provides that the fee applies to the owner of the CMM membership,
unless the inactive CMM membership is subject to a lease that was
approved by the Exchange prior to the effective date of the fee, in
which case the fee would apply to the lessee.
\4\ See ISE Rule 303(b).
---------------------------------------------------------------------------
The Exchange has developed an enhanced technology trading platform
and will migrate from its current trading system to the new trading
system over time (the ``Transition Period''). The Exchange believes
that during the Transition Period it would be impractical for a firm to
become a new market maker on the Exchange due to the level of financial
and technical resources that a new market maker would be required to
commit. As a result, CMMs who are actively seeking to lease their
trading rights during the Transition Period are unlikely to find a firm
that would be willing to commit such resources. Therefore, ISE proposes
to waive its current CMM Inactivity Fee until the new trading system
has been completely rolled out.\5\ This proposed fee waiver would only
apply to trading rights in excess of the 10 trading rights that a CMM
is permitted to operate provided that CMM Member owns more than 10
trading rights.
---------------------------------------------------------------------------
\5\ The Exchange has been working with its members to assure a
smooth transition to the new trading platform and will continue to
do so up to the launch of the new technology and during the
Transition Period.
---------------------------------------------------------------------------
2. Basis
The basis under the Securities Exchange Act of 1934 (the ``Exchange
Act'') for this proposed rule change is the requirement under Section
6(b)(4)\6\ that an exchange have an equitable allocation of reasonable
dues, fees and other charges among its members and other persons using
its facilities. In particular, the proposed fee waiver is simply a
recognition of the fact that it would be impractical for a new firm to
become a member of the Exchange during the Transition Period, and thus,
serves to effectively maintain low fees during this time.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not 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 has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\7\ 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. If the Commission takes such action, the Commission shall
institute proceedings to determine whether the proposed rule should be
approved or disapproved.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------
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 No. SR-ISE-2010-109 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-ISE-2010-109. 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 Commissions 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 such filing also will be available for inspection and
[[Page 79060]]
copying at the principal office of the ISE. 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-ISE-2010-109 and should be submitted by
January 7, 2011.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-31683 Filed 12-16-10; 8:45 am]
BILLING CODE 8011-01-P
