Proposed Collection; Comment Request, 68797-68798 [2011-28720]
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Federal Register / Vol. 76, No. 215 / Monday, November 7, 2011 / Notices
effective transaction reporting plan
contemplated by Rule 601 of Regulation
NMS, the date of the Commission’s
suspension of unlisted trading
privileges in the security on the
exchange, and any other pertinent
information. Rule 12f–1 further requires
a national securities exchange seeking to
reinstate its ability to extend unlisted
trading privileges to a security to
indicate that it has provided a copy of
such application to the issuer of the
security, as well as to any other national
securities exchange on which the
security is listed or admitted to unlisted
trading privileges.
The information required by Rule
12f–1 enables the Commission to make
the necessary findings under the Act
prior to granting applications to
reinstate unlisted trading privileges.
This information is also made available
to members of the public who may wish
to comment upon the applications.
Without the Rule, the Commission
would be unable to fulfill these
statutory responsibilities.
There are currently 15 national
securities exchanges subject to Rule
12f–1. The burden of complying with
Rule 12f–1 arises when a potential
respondent seeks to reinstate its ability
to extend unlisted trading privileges to
any security for which unlisted trading
privileges have been suspended by the
Commission, pursuant to Section
12(f)(2)(A) of the Act. The staff estimates
that each application would require
approximately one hour to complete.
Thus each potential respondent would
incur on average one burden hour in
complying with the Rule.
The Commission staff estimates that
there could be as many as 15 responses
annually and that each respondent’s
related cost of compliance with Rule
12f–1 would be $168.00, or, the cost of
one hour of professional work of a
paralegal needed to complete the
application. The total annual related
reporting cost for all potential
respondents, therefore, is $2,520 (15
responses × $168.00 per response).
Compliance with Rule 12f–1 is
mandatory. Rule 12f–1 does not have a
record retention requirement per se.
However, responses made pursuant to
Rule 12f–1 are subject to the
recordkeeping requirements of Rules
17a–3 and 17a–4 of the Act. Information
received in response to Rule 12f–1 shall
not be kept confidential; the information
collected is public information.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
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17:50 Nov 04, 2011
Jkt 226001
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid Office of Management and
Budget (OMB) control number.
Please direct your written comments
to: Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, Virginia 22312 or send an
email to: PRA_Mailbox@sec.gov.
Dated: November 1, 2011.
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2011–28719 Filed 11–4–11; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
Upon Written Request, Copies Available
from: U.S. Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Rule 12f–3; OMB Control No. 3235–0249;
SEC File No. 270–141.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit the existing collection
of information to the Office of
Management and Budget for extension
and approval for Rule 12f–3 (17 CFR
240.12f–3)—Termination or Suspension
of Unlisted Trading Privileges
Rule 12f–3 (the ‘‘Rule’’), which was
originally adopted in 1934 pursuant to
Sections 12(f) and 23(a) of the Securities
Exchange Act of 1934 (15 U.S.C. 78a et
PO 00000
Frm 00081
Fmt 4703
Sfmt 4703
68797
seq.) (‘‘Act’’), as modified in 1995,
prescribes the information which must
be included in applications for and
notices of termination or suspension of
unlisted trading privileges for a security
as contemplated in Section 12(f)(4) of
the Act. An application must provide,
among other things, the name of the
applicant; a brief statement of the
applicant’s interest in the question of
termination or suspension of such
unlisted trading privileges; the title of
the security; the name of the issuer;
certain information regarding the size of
the class of security and its recent
trading history; and a statement
indicating that the applicant has
provided a copy of such application to
the exchange from which the
suspension or termination of unlisted
trading privileges are sought, and to any
other exchange on which the security is
listed or admitted to unlisted trading
privileges.
The information required to be
included in applications submitted
pursuant to Rule 12f–3, is intended to
provide the Commission with sufficient
information to make the necessary
findings under the Act to terminate or
suspend by order the unlisted trading
privileges granted a security on a
national securities exchange. Without
the Rule, the Commission would be
unable to fulfill these statutory
responsibilities.
The burden of complying with Rule
12f–3 arises when a potential
respondent, having a demonstrable bona
fide interest in the question of
termination or suspension of the
unlisted trading privileges of a security,
determines to seek such termination or
suspension. The staff estimates that
each such application to terminate or
suspend unlisted trading privileges
requires approximately one hour to
complete. Thus each potential
respondent would incur on average one
burden hour in complying with the
Rule.
The Commission staff estimates that
there could be as many as 15 responses
annually and that each respondent’s
related cost of compliance with Rule
12f–3 would be $168.00, or, the cost of
one hour of professional work of a
paralegal needed to complete the
application. The total annual related
reporting cost for all potential
respondents, therefore, is $2,520 (15
responses x $168.00/response).
Compliance with the application
requirements of Rule 12f–3 is
mandatory, though the filing of such
applications is undertaken voluntarily.
Rule 12f–3 does not have a record
retention requirement per se. However,
responses made pursuant to Rule 12f–3
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68798
Federal Register / Vol. 76, No. 215 / Monday, November 7, 2011 / Notices
are subject to the recordkeeping
requirements of Rules 17a–3 and 17a–4
of the Act. Information received in
response to Rule 12f–3 shall not be kept
confidential; the information collected
is public information.
Written comments are invited on: (a)
Whether the proposed collection of
information is necessary for the proper
performance of the functions of the
Commission, including whether the
information shall have practical utility;
(b) the accuracy of the Commission’s
estimates of the burden of the proposed
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information on respondents; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
The Commission may not conduct or
sponsor a collection of information
unless it displays a currently valid
control number. No person shall be
subject to any penalty for failing to
comply with a collection of information
subject to the PRA that does not display
a valid Office of Management and
Budget (OMB) control number.
Please direct your written comments
to: Thomas Bayer, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Remi PavlikSimon, 6432 General Green Way,
Alexandria, Virginia 22312 or send an
email to: PRA_Mailbox@sec.gov.
Dated: November 1, 2011.
Kevin M. O’Neill,
Deputy Secretary.
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
mstockstill on DSK4VPTVN1PROD with NOTICES
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Adopt a Market-Maker
Trade Prevention Order on CBOE
Stock Exchange
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 October
28, 2011, the Chicago Board Options
1 15
2 17
U.S.C. 78s(b)(1).
CFR 240.19b–4.
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17:50 Nov 04, 2011
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to adopt a
Market-Maker Trade Prevention Order
on CBOE Stock Exchange (‘‘CBSX’’).
The text of the proposed rule change is
available on the Exchange’s Web site
(https://www.cboe.org/legal), at the
Exchange’s Office of the Secretary, and
at the Commission.
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
Statutory Basis for, Proposed Rule
Change
[FR Doc. 2011–28720 Filed 11–4–11; 8:45 am]
November 1, 2011.
Exchange, Incorporated (the ‘‘Exchange’’
or ‘‘CBOE’’) 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 filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
Section 19(b)(3)(A)(iii) of the Act 3 and
Rule 19b–4(f)(6) thereunder.4 The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
1. Purpose
The Exchange proposes to adopt a
Market-Maker Trade Prevention
(‘‘MMTP’’) Order. The proposed MMTP
Order is an immediate-or-cancel order
containing a designation that prevents
incoming orders for a Market-Maker
from executing against resting quotes
and orders for the same Market-Maker.
The MMTP Order type designation is
intended to prevent a Market-Maker
from trading on both sides of the same
transaction. Orders would be marked
with the MMTP designation on an
order-by-order basis. An incoming
MMTP Order cannot interact with
interest resting on the book from the
same Market-Maker. An MMTP Order
3 15
4 17
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PO 00000
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
Frm 00082
Fmt 4703
Sfmt 4703
that would trade against a resting quote
or order for the same Market-Maker will
be cancelled, as will the resting quote or
order. The MMTP Order will trade
against other tradable orders and quotes
entered by or on behalf of another
market participant (other than those
entered by or on behalf of the same
Market-Maker) in accordance with the
execution process described in
Exchange Rule 52.1 (Matching
Algorithm/Priority). When available, the
MMTP Order type will be available for
use by all Market-Makers in all
appointments.
For example, assume the Exchange’s
best bid and offer is $1.00–$1.20, 1000
shares on each side. A Market-Maker
marks an order to buy 1000 shares at
$1.20 with the MMTP distinction,
making it an MMTP Order. The MMTP
Order is submitted to the Exchange and
it would trade with a resting quote from
the same Market-Maker for 1000 shares
offered at $1.20, then both the order to
buy and the resting offer quote would be
canceled. However, if the resting offer
quote from the same Market-Maker was
for only 600 shares, then 600 shares
from the order to buy would be canceled
(as would the resting quote), but the
other 400 shares could trade with the
resting offer interest of the other market
participants.
At this time, the Exchange intends to
identify an incoming MMTP Order as
being for the same Market-Maker if the
MMTP Order and resting quote or order
share any of the following: (1) User
acronym, (2) login ID, or (3) sub-account
code. Each Market-Maker is assigned its
own acronym (sometimes multiple
acronyms). However, a Market-Maker
may have multiple different login IDs or
sub-account codes. A login ID is the
session through which a Market-Maker
routes orders to the Exchange. A
Market-Maker may elect to use different
login IDs to route different types of
communications to the Exchange. For
example, a Market-Maker may choose to
use login ID #1 for all orders it sends to
the Exchange and login ID #2 for all
quotes it sends to the Exchange. Or the
Market-Maker may be much more
specific, and use different login IDs for
different types of orders and quotes. A
sub-account code is simply a field on
each order or quote that lists the
account into which a trade clears at the
Options Clearing Corporation (‘‘OCC’’).
A Market-Maker may have different subaccount codes for each trader it
employs, so that the Market-Maker may
track each trader’s activity. Finally,
Market-Makers sometimes use different
acronyms but clear into the same
accounts (thereby using the same subaccounts codes).
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]]>Agencies
[Federal Register Volume 76, Number 215 (Monday, November 7, 2011)]
[Notices]
[Pages 68797-68798]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-28720]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Proposed Collection; Comment Request
Upon Written Request, Copies Available from: U.S. Securities and
Exchange Commission, Office of Investor Education and Advocacy,
Washington, DC 20549-0213.
Extension:
Rule 12f-3; OMB Control No. 3235-0249; SEC File No. 270-141.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the collection of
information summarized below. The Commission plans to submit the
existing collection of information to the Office of Management and
Budget for extension and approval for Rule 12f-3 (17 CFR 240.12f-3)--
Termination or Suspension of Unlisted Trading Privileges
Rule 12f-3 (the ``Rule''), which was originally adopted in 1934
pursuant to Sections 12(f) and 23(a) of the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) (``Act''), as modified in 1995, prescribes
the information which must be included in applications for and notices
of termination or suspension of unlisted trading privileges for a
security as contemplated in Section 12(f)(4) of the Act. An application
must provide, among other things, the name of the applicant; a brief
statement of the applicant's interest in the question of termination or
suspension of such unlisted trading privileges; the title of the
security; the name of the issuer; certain information regarding the
size of the class of security and its recent trading history; and a
statement indicating that the applicant has provided a copy of such
application to the exchange from which the suspension or termination of
unlisted trading privileges are sought, and to any other exchange on
which the security is listed or admitted to unlisted trading
privileges.
The information required to be included in applications submitted
pursuant to Rule 12f-3, is intended to provide the Commission with
sufficient information to make the necessary findings under the Act to
terminate or suspend by order the unlisted trading privileges granted a
security on a national securities exchange. Without the Rule, the
Commission would be unable to fulfill these statutory responsibilities.
The burden of complying with Rule 12f-3 arises when a potential
respondent, having a demonstrable bona fide interest in the question of
termination or suspension of the unlisted trading privileges of a
security, determines to seek such termination or suspension. The staff
estimates that each such application to terminate or suspend unlisted
trading privileges requires approximately one hour to complete. Thus
each potential respondent would incur on average one burden hour in
complying with the Rule.
The Commission staff estimates that there could be as many as 15
responses annually and that each respondent's related cost of
compliance with Rule 12f-3 would be $168.00, or, the cost of one hour
of professional work of a paralegal needed to complete the application.
The total annual related reporting cost for all potential respondents,
therefore, is $2,520 (15 responses x $168.00/response).
Compliance with the application requirements of Rule 12f-3 is
mandatory, though the filing of such applications is undertaken
voluntarily. Rule 12f-3 does not have a record retention requirement
per se. However, responses made pursuant to Rule 12f-3
[[Page 68798]]
are subject to the recordkeeping requirements of Rules 17a-3 and 17a-4
of the Act. Information received in response to Rule 12f-3 shall not be
kept confidential; the information collected is public information.
Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information
shall have practical utility; (b) the accuracy of the Commission's
estimates of the burden of the proposed collection of information; (c)
ways to enhance the quality, utility, and clarity of the information on
respondents; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Consideration will be given to comments and suggestions submitted in
writing within 60 days of this publication.
The Commission may not conduct or sponsor a collection of
information unless it displays a currently valid control number. No
person shall be subject to any penalty for failing to comply with a
collection of information subject to the PRA that does not display a
valid Office of Management and Budget (OMB) control number.
Please direct your written comments to: Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 6432 General Green Way, Alexandria, Virginia 22312 or
send an email to: PRA_Mailbox@sec.gov.
Dated: November 1, 2011.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2011-28720 Filed 11-4-11; 8:45 am]
BILLING CODE 8011-01-P
