Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the CBOE Stock Exchange Fees Schedule, 27730-27732 [2011-11583]
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Federal Register / Vol. 76, No. 92 / Thursday, May 12, 2011 / Notices
investigative firms; (2) clarify the
Exchange’s discretionary authority to
deny listing to or delist companies
Electronic Comments
based on regulatory concerns; (3) add
• Use the Commission’s Internet
provisions relating to the internal
comment form (https://www.sec.gov/
structure and experience of those
rules/sro.shtml); or
charged with oversight of the listing
• Send an e-mail to ruleprogram; (4) describe market oversight
comments@sec.gov. Please include File
activities for BX Venture Market-listed
Number SR–BX–2010–059 on the
securities; (5) detail the use of market
subject line.
center identifiers to distinguish
companies listed on the BX Venture
Paper Comments
Market; (6) add restrictions on ticker
• Send paper comments in triplicate
symbol length; and (7) clarify the
to Elizabeth M. Murphy, Secretary,
consolidation of BX Venture Market
Securities and Exchange Commission,
data with over-the-counter information
100 F Street, NE., Washington, DC
for the same securities. These
20549–1090.
amendments clarify aspects of the
All submissions should refer to File
proposal, are responsive to commenters’
Number SR–BX–2010–059. This file
concerns about investor protection and
number should be included on the
brand confusion, and strengthen the
subject line if e-mail is used. To help the listing standards of the BX Venture
Commission process and review your
Market. Accordingly, the Commission
comments more efficiently, please use
also finds good cause, pursuant to
only one method. The Commission will Section 19(b)(2) of the Act,244 for
post all comments on the Commission’s approving the proposed rule change, as
Internet Web site (https://www.sec.gov/
modified by Amendment No. 2, prior to
rules/sro.shtml). Copies of the
the 30th day after the date of
submission, all subsequent
publication of notice in the Federal
amendments, all written statements
Register.
with respect to the proposed rule
VI. Conclusion
change that are filed with the
Commission, and all written
It is therefore ordered, pursuant to
communications relating to the
Section 19(b)(2) of the Act,245 that the
proposed rule change between the
proposed rule change (SR–BX–2010–
Commission and any person, other than 059), as modified by Amendment Nos.
those that may be withheld from the
1 and 2, be, and hereby is, approved on
public in accordance with the
an accelerated basis.
provisions of 5 U.S.C. 552, will be
It is further ordered that operation of
available for Web site viewing and
the BX Venture Market is conditioned
printing in the Commission’s Public
on the satisfaction of the requirements
Reference Room, 100 F Street, NE.,
below:
Washington, DC 20549, on official
A. Market Data Display. BX must
business days between the hours of 10
update its global market data policy
a.m. and 3 p.m. Copies of such filing
document and must enter into amended
also will be available for inspection and data distribution agreements to require
copying at the principal office of the
data vendors to prominently identify the
Exchange. All comments received will
listing market for BX Venture Marketbe posted without change; the
listed securities before the market
Commission does not edit personal
begins operations. In addition, BX must
identifying information from
represent in a letter to the staff in the
submissions. You should submit only
Commission’s Division of Trading and
information that you wish to make
Markets that such policy document and
publicly available. All submissions
agreements have been amended and that
should refer to File Number SR–BX–
the provisions in such documents that
2010–059 and should be submitted on
require data vendors to prominently
or before June 2, 2011.
identify or display the listing market for
BX-listed securities will be effective
V. Accelerated Approval of Proposed
with respect to all vendors that
Rule Change, as Modified by
distribute BX-listed securities data at
Amendment No. 2
the time the BX Venture Market begins
Amendment No. 2 revised the
operations.
proposed rule change, as modified by
B. Regulatory Services Agreement.
Amendment No. 1, to, among other
Before the BX Venture Market begins
things: (1) Explain the process of
operations, BX and FINRA must enter
reviewing companies for initial listing,
into a regulatory services agreement
including conducting background
244 15 U.S.C. 78s(b)(2).
checks on companies and associated
245 15 U.S.C. 78s(b)(2).
individuals, and the use of third-party
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
may be submitted by any of the
following methods:
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relating to regulatory activities to be
conducted by FINRA as described
above.
C. Examination by the Commission.
BX must have, and represent in a letter
to the staff in the Commission’s Office
of Compliance Inspections and
Examinations that it and FINRA have,
adequate regulatory procedures and
programs in place to effectively regulate
the BX Venture Market and its listing
program, and adequate procedures and
programs in place to effectively process
trades and maintain the confidentiality,
integrity, and availability of the
Exchange’s systems, before the BX
Venture Market begins operations.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.246
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–11610 Filed 5–11–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–64414; File No. SR–CBOE–
2011–045]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the CBOE
Stock Exchange Fees Schedule
May 5, 2011.
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 April 29,
2011, the Chicago Board Options
Exchange, Incorporated (‘‘Exchange’’ or
‘‘CBOE’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change as described
in Items I, II, and III below, which Items
have been prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend the
CBOE Stock Exchange (‘‘CBSX’’) Fees
Schedule. The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.cboe.org/legal), at
the Exchange’s Office of the Secretary,
and at the Commission.
246 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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Federal Register / Vol. 76, No. 92 / Thursday, May 12, 2011 / Notices
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
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
1. Purpose
This filing proposes to make changes
to the CBSX Fees Schedule. The first
change is to eliminate the symbol ‘‘Q’’
from the stocks listed in footnote 3
which are subject to certain transaction
fees. The symbol ‘‘Q’’ is being deleted
because the stock is no longer available
for trading on CBSX.
The Exchange also proposes to
eliminate transaction fees and rebates
for NBBO Step-Up Trades. Such trades
were only available through CBSX’s
‘‘flash’’ process. The Commission
approved the deletion of CBSX’s ‘‘flash’’
rule on April 6, 2011.3 As such, the
Exchange proposes to delete these nowobsolete fees from the Fees Schedule.
CBSX further proposes to modify the
transaction fees for a cross trade that is
the stock component of a qualified
contingent trade. Currently, the fee is
$.0010 per share, with a maximum rate
of $20 per trade. The Exchange proposes
increasing the fee to $.0012 per share
and increasing the maximum rate to $25
per trade. CBSX proposes these
increases in order to better recoup costs
associated with such trades.
These changes will take effect on May
2, 2011.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the
Securities Exchange Act of 1934
(‘‘Act’’),4 in general, and furthers the
objectives of Section 6(b)(4) 5 of the Act
in particular, in that it is designed to
provide for the equitable allocation of
reasonable dues, fees, and other charges
among persons using Exchange
3 See Securities Exchange Act Release No. 64200
(April 6, 2011), 76 FR 20406 (April 12, 2011) (SR–
CBOE–2011–036).
4 15 U.S.C. 78f(b).
5 15 U.S.C. 78f(b)(4).
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facilities. CBSX proposes eliminating
obsolete references to the symbol ‘‘Q’’
and the fees that were only applicable
to the now-nonexistent ‘‘flash’’ process
from its Fees Schedule in order to avoid
investor confusion. The evasion of
confusion is consistent with the
objectives of Section 6(b)(5) 6 of the Act
of ensuring that the rules of the
Exchange are designed to perfect the
mechanism of a free and open market
and to protect investors and the public
interest. CBSX proposes increasing
transaction fees for a cross trade that is
the stock component of a qualified
contingent trade to provide for the
equitable allocation of such fees in
accordance of Section 6(b)(4) 7 of the
Act. The fee will be same regardless of
user, therefore ensuring that such fees
are allocated equitably and are not
designed to permit unfair
discrimination between customers,
issuers, brokers, or dealers.8
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition not necessary or
appropriate in furtherance of the
purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change is
designated by the Exchange as
establishing or changing a due, fee, or
other charge, thereby qualifying for
effectiveness on filing pursuant to
Section 19(b)(3)(A) of the Act 9 and
subparagraph (f)(2) of Rule 19b–4 10
thereunder. At any time within 60 days
of the filing of the proposed rule change,
the Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act.
6 15
U.S.C. 78f(b)(5).
supra note 5.
8 This sentence was revised at the request of the
Exchange. See e-mail from Jeff Dritz, Attorney,
CBOE, to Steve Kuan, Special Counsel, Division of
Trading and Markets, Commission, on May 5, 2011.
9 15 U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(2).
7 See
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27731
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–CBOE–2011–045 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Elizabeth M. Murphy, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–CBOE–2011–045. 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 such filing
also will be available for inspection and
copying at the principal office of the
Exchange. All comments received will
be posted without change; the
Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
should refer to File Number SR–CBOE–
2011–045 and should be submitted on
or before June 2, 2011.
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27732
Federal Register / Vol. 76, No. 92 / Thursday, May 12, 2011 / Notices
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.11
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011–11583 Filed 5–11–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–64415; File No. SR–Phlx–
2011–56]
Self-Regulatory Organizations; The
NASDAQ OMX PHLX LLC; Notice of
Filing of Proposed Rule Change To
Establish a Qualified Contingent Cross
Order for Execution on the Floor of the
Exchange
May 5, 2011.
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 May 4,
2011, NASDAQ OMX PHLX LLC (‘‘Phlx’’
or ‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is filing with the
Commission a proposal to amend PHLX
Rule 1064(e) to establish a Floor
Qualified Contingent Cross Order
(‘‘Floor QCC Order’’). The Floor QCC
Order will facilitate the execution of
stock/option Qualified Contingent
Trades that satisfy the requirements of
the trade through exemption in
connection with Rule 611(d) of
Regulation NMS (‘‘QCT Trade
Exemption’’).3
The text of the proposed rule change
is available on the Exchange’s Web site
at https://
nasdaqomxphlx.cchwallstreet.com/
NASDAQOMXPHLX/Filings/, at the
principal office of the Exchange, and at
the Commission’s Public Reference
Room.
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 See Securities Exchange Act Release No. 54389
(August 31, 2006), 71 FR 52829 (September 7,
2006); Securities Exchange Act Release No. 57620
(April 4, 2008), 73 FR 19271 (April 9, 2008).
1 15
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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
On February 24, 2011, the
Commission issued an order approving
SR–ISE–2010–073, a proposal by the ISE
to establish a Qualified Contingent
Cross (‘‘ISE QCC Proposal’’). The ISE
QCC Proposal was controversial,
attracting opposition from multiple
exchanges including PHLX. In its
comment letter on the ISE QCC
Proposal, PHLX asserted that the QCC
Proposal deviated from ‘‘long-held
principles in the options market by
permitting the crossing of orders
without requiring prior exposure’’ and
that the ISE QCC Proposal failed
adequately to protect customers with
orders resting on the ISE limit order
book.4
The Commission, in a thorough and
thoughtful decision, concluded that the
QCC Proposal—including the lack of
prior order exposure—is consistent with
the Act. With respect to order exposure,
the Commission stated:
While the Commission believes that
order exposure is generally beneficial to
options markets in that it provides an
incentive to options market makers to
provide liquidity and therefore plays an
important role in ensuring competition
and price discovery in the options
markets, it also has recognized that
contingent trades can be ‘‘useful trading
tools for investors and other market
participants, particularly those who
trade the securities of issuers involved
in mergers, different classes of shares of
the same issuer, convertible securities,
and equity derivatives such as options
[italics added]’’ and that ‘‘[t]hose who
engage in contingent trades can benefit
the market as a whole by studying the
4 See Letter, dated August 13, 2010, from Thomas
Wittman, President, NASDAQ OMX PHLX to
Elizabeth Murphy, Secretary, U.S. Securities and
Exchange Commission.
PO 00000
Frm 00100
Fmt 4703
Sfmt 4703
relationships between the prices of such
securities and executing contingent
trades when they believe such
relationships are out of line with what
they believe to be fair value.’’ As such,
the Commission stated that transactions
that meet the specified requirements of
the NMS QCT Exemption could be of
benefit to the market as a whole,
contributing to the efficient functioning
of the securities markets and the price
discovery process.5
The Approval Order succinctly sets
forth the material elements of ISE’s
Qualified Contingent Cross:
Thus, as modified, an ISE member effecting
a trade pursuant to the NMS QCT Exemption
could cross the options leg of the trade on
ISE as a QCC Order immediately upon entry,
without exposure, only if there are no
Priority Customer orders on the Exchange’s
limit order book at the same price and if the
order: (i) Is for at least 1,000 contracts; (ii)
meets the six requirements of the NMS QCT
Exemption; and (iii) is executed at a price at
or between the NBBO (‘‘Modified QCC
Order’’). In the Notice, ISE stated that the
modifications to the Original QCC Order (i.e.,
to prevent the execution of a QCC if there is
a Priority Customer on its book and to
increase the minimum size of a QCC Order)
remove the appearance that such orders are
trading ahead of Priority Customer orders or
that the QCC Order could be used to
disadvantage retail customers (citations
omitted).6
The Exchange believes that the
Commission, having considered and
addressed all arguments in favor and in
opposition to the QCC, has established
binding precedent under which other
exchanges can establish a QCC Order
that is also consistent with the Act.
In keeping with that precedent, PHLX
hereby proposes to add PHLX Rule
1064(e) to establish a Floor QCC Order
based on the precedent of ISE’s QCC
Order.7 Specifically, PHLX proposes to
amend Rule 1064 to provide that a
PHLX member effectuating a trade on
the floor of the Exchange pursuant to
the Regulation NMS Qualified
Contingent Trade Exemption to Rule
611(a) (‘‘QCT Exemption’’) can cross the
options leg’s of the trade on PHLX as a
Floor QCC Order immediately upon
entry and without order exposure if no
Customer Orders 8 exist on the
5 Approval Order at p. 28 (citing to Regulation
NMS QCT Exemption).
6 Id. at p. 18.
7 PHLX previously established an electronic QCC
Order set forth in PHLX Rule 1080(o). See
Securities Exchange Act Release No. 64249 (April
7, 2011), 76 FR 20773 (April 13, 2011) (SR–Phlx–
2011–047).
8 PHLX will reject QCC Orders that attempt to
execute when any Customer orders are resting on
the Exchange limit order book at the same price. ISE
QCC Orders will be cancelled only when they
encounter resting orders of Priority Customers. The
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]]>Agencies
[Federal Register Volume 76, Number 92 (Thursday, May 12, 2011)]
[Notices]
[Pages 27730-27732]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-11583]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-64414; File No. SR-CBOE-2011-045]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change To Amend the CBOE Stock Exchange Fees Schedule
May 5, 2011.
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 April 29, 2011, the Chicago Board Options Exchange,
Incorporated (``Exchange'' or ``CBOE'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change as
described in Items I, II, and III below, which Items have been prepared
by the Exchange. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the CBOE Stock Exchange (``CBSX'')
Fees Schedule. The text of the proposed rule change is available on the
Exchange's Web site (https://www.cboe.org/legal), at the Exchange's
Office of the Secretary, and at the Commission.
[[Page 27731]]
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
This filing proposes to make changes to the CBSX Fees Schedule. The
first change is to eliminate the symbol ``Q'' from the stocks listed in
footnote 3 which are subject to certain transaction fees. The symbol
``Q'' is being deleted because the stock is no longer available for
trading on CBSX.
The Exchange also proposes to eliminate transaction fees and
rebates for NBBO Step-Up Trades. Such trades were only available
through CBSX's ``flash'' process. The Commission approved the deletion
of CBSX's ``flash'' rule on April 6, 2011.\3\ As such, the Exchange
proposes to delete these now-obsolete fees from the Fees Schedule.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 64200 (April 6,
2011), 76 FR 20406 (April 12, 2011) (SR-CBOE-2011-036).
---------------------------------------------------------------------------
CBSX further proposes to modify the transaction fees for a cross
trade that is the stock component of a qualified contingent trade.
Currently, the fee is $.0010 per share, with a maximum rate of $20 per
trade. The Exchange proposes increasing the fee to $.0012 per share and
increasing the maximum rate to $25 per trade. CBSX proposes these
increases in order to better recoup costs associated with such trades.
These changes will take effect on May 2, 2011.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (``Act''),\4\ in general, and furthers
the objectives of Section 6(b)(4) \5\ of the Act in particular, in that
it is designed to provide for the equitable allocation of reasonable
dues, fees, and other charges among persons using Exchange facilities.
CBSX proposes eliminating obsolete references to the symbol ``Q'' and
the fees that were only applicable to the now-nonexistent ``flash''
process from its Fees Schedule in order to avoid investor confusion.
The evasion of confusion is consistent with the objectives of Section
6(b)(5) \6\ of the Act of ensuring that the rules of the Exchange are
designed to perfect the mechanism of a free and open market and to
protect investors and the public interest. CBSX proposes increasing
transaction fees for a cross trade that is the stock component of a
qualified contingent trade to provide for the equitable allocation of
such fees in accordance of Section 6(b)(4) \7\ of the Act. The fee will
be same regardless of user, therefore ensuring that such fees are
allocated equitably and are not designed to permit unfair
discrimination between customers, issuers, brokers, or dealers.\8\
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78f(b).
\5\ 15 U.S.C. 78f(b)(4).
\6\ 15 U.S.C. 78f(b)(5).
\7\ See supra note 5.
\8\ This sentence was revised at the request of the Exchange.
See e-mail from Jeff Dritz, Attorney, CBOE, to Steve Kuan, Special
Counsel, Division of Trading and Markets, Commission, on May 5,
2011.
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CBOE does not believe that the proposed rule change will impose any
burden on competition not necessary or appropriate in furtherance of
the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change is designated by the Exchange as
establishing or changing a due, fee, or other charge, thereby
qualifying for effectiveness on filing pursuant to Section 19(b)(3)(A)
of the Act \9\ and subparagraph (f)(2) of Rule 19b-4 \10\ thereunder.
At any time within 60 days of the filing of the proposed rule change,
the Commission summarily may temporarily suspend such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-CBOE-2011-045 on the subject line.
Paper Comments
Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-CBOE-2011-045. 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 such filing also will be available for
inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-CBOE-2011-045 and should be
submitted on or before June 2, 2011.
[[Page 27732]]
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
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\11\ 17 CFR 200.30-3(a)(12).
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Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-11583 Filed 5-11-11; 8:45 am]
BILLING CODE 8011-01-P
