Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule, 2772-2773 [2012-897]

Download as PDF 2772 Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices SECURITIES AND EXCHANGE COMMISSION [Release No. 34–66140; File No. SR–C2– 2012–002] Self-Regulatory Organizations; C2 Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Fees Schedule January 11, 2012. 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 January 6, 2012, the C2 Options Exchange, Incorporated (the ‘‘Exchange’’ or ‘‘C2’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been substantially 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 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. 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. mstockstill on DSK4VPTVN1PROD with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose On September 2, 2011, the Commission approved a proposed rule change filed by the Exchange to permit on a pilot basis the listing and trading on C2 of Standard & Poor’s 500 Index 1 15 2 17 U.S.C. 78s(b)(1). CFR 240.19b–4. VerDate Mar<15>2010 16:21 Jan 18, 2012 Jkt 226001 (‘‘S&P 500’’) options with third-Fridayof-the-month (‘‘Expiration Friday’’) expiration dates for which the exercise settlement value will be based on the index value derived from the closing prices of component securities (‘‘SPXPM’’).3 On September 28, 2011, the Exchange filed an immediatelyeffective rule change to adopt fees associated with the anticipated trading of SPXPM (the ‘‘Initial SPXPM Fees Filing’’).4 In the Initial SPXPM Fees Filing, the Exchange adopted an SPXPM Tier Appointment Fee of $4,000 which would be charged to any Market-Maker Permit holder that has an appointment (registration) in SPXPM at any time during a calendar month, but the Exchange also waived that fee through November 30, 2011. On November 23, the Exchange extended that waiver through December 31, 2011.5 The Exchange had intended to extend that waiver through February 29, 2012, but unintentionally did not do so. The Exchange hereby proposes continuing that waiver through February 2012. The SPXPM Tier Appointment Fee for January 2012, which would have been billed at the end of the month, will not be billed. The purpose of this waiver extension is to allow more time for the SPXPM market to develop and allow and encourage Market-Makers to join in and elect for an SPXPM Tier Appointment. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Act,6 in general, and furthers the objectives of Section 6(b)(4) 7 of the Act in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among C2 Trading Permit Holders and other persons using Exchange facilities. Continuing the waiver of the SPXPM Tier Appointment Fee is reasonable because it will allow Market-Makers with an SPXPM Tier Appointment to avoid paying the Tier Appointment Fee for another month [sic],8 and is equitable and not unfairly discriminatory because all MarketMakers with an SPXPM Tier 3 See Securities Exchange Act Release No. 34– 65256 (September 2, 2011), 76 FR 55969 (September 9, 2011) (SR–C2–2011–008). 4 See Securities Exchange Act Release No. 34– 65471 (October 3, 2011), 76 FR 62491 (October 7, 2011) (SR–C2–2011–026). 5 See Securities Exchange Act Release No. 34– 65874 (December 2, 2011), 76 FR 76785 (December 8, 2011) (SR–C2–2011–037). 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(4). 8 The Commission notes that C2 has proposed to extend the waiver for an additional two months, not one month as the Exchange stated. PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 Appointment will be able to avoid paying the SPXPM Tier Appointment Fee through February 29, 2012. B. Self-Regulatory Organization’s Statement on Burden on Competition C2 does not believe that the proposed rule change will impose any burden on competition 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. 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 email to rulecomments@sec.gov. Please include File Number SR–C2–2012–002 on the subject line. Paper Comments • Send paper comments in triplicate to Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–C2–2012–002. This file number should be included on the 9 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). 10 17 E:\FR\FM\19JAN1.SGM 19JAN1 Federal Register / Vol. 77, No. 12 / Thursday, January 19, 2012 / Notices subject line if email 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 C2. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–C2–2012–002 and should be submitted on or before February 9, 2012. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.11 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–897 Filed 1–18–12; 8:45 am] BILLING CODE 8011–01–P DEPARTMENT OF TRANSPORTATION Office of the Secretary of Transportation [Docket No. DOT–OST–2011–0129] Proposed Information Collection Request; Notice of New Requirements and Procedures for Grant Payment Request Submission Department of Transportation (DOT). ACTION: Notice with request for comments. mstockstill on DSK4VPTVN1PROD with NOTICES AGENCY: The Department of Transportation (DOT), Office of the Secretary (OST) will be submitting the following information collection request to the Office of Management and Budget SUMMARY: 11 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 16:21 Jan 18, 2012 Jkt 226001 (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995. The information collection was previously published in the Federal Register on November 10, 2011, allowing for a 60-day public comment period. DATES: Comments must be submitted on or before February 21, 2012. ADDRESSES: Direct comments to the Department of Transportation Desk Officer in the Office of Information and Regulatory Affairs at the Office of Management and Budget (OMB). You may submit comments by the following methods: • Email: oira_submission@omb.eop.gov. You must include the information collection title and OMB control number in the subject line of your message. • Fax: (202) 395–5806. Attn: Desk Officer for Department of Transportation\OST. You may obtain copies of the proposed information collection and supporting documents from U.S. Department of Transportation, Office of Financial Management, B–30, room W93–431, 1200 New Jersey Avenue SE., Washington, DC 20590–0001, (202) 366– 1306, DOTElectronicInvoicing@dot.gov. SUPPLEMENTARY INFORMATION: Title: Notice of Requirements and Procedures for Grant Payment Request Submission. Type of Request: New information collection. Background: This notice sets forth requirements and procedures for grantees that receive payments from DOT OAs,1 with the exception of DOT grant recipients requesting payment electronically through the National Highway Traffic Safety Administration’s Grant Tracking System (GTS), the Federal Highway Administration’s Rapid Approval State Payment System (RASPS), or Federal Transit Administration (FTA) grant recipients requesting payment through the Electronic Clearing House Operation System (ECHO–Web). FOR FURTHER INFORMATION CONTACT: 1 The DOT OAs are: Office of the Secretary of Transportation (OST), Federal Aviation Administration (FAA), Federal Highway Administration (FHWA), Federal Motor Carrier Safety Administration (FMCSA), Federal Railroad Administration (FRA), Federal Transit Administration (FTA), Maritime Administration (MARAD), National Highway Traffic Safety Administration (NHTSA), Office of Inspector General (OIG), Pipeline and Hazardous Materials Safety Administration (PHMSA), Research and Innovative Technology Administration (RITA), Saint Lawrence Seaway Development Corporation (SLSDC) and Surface Transportation Board (STB). PO 00000 Frm 00090 Fmt 4703 Sfmt 9990 2773 The Proposed Procedures Provide That • Grantees will now be required to have electronic Internet access to register in the Delphi eInvoicing system. • Grantees will be required to submit payment requests electronically and DOT OAs must process payment requests electronically. • The identities of system users must be verified prior to receiving access to the Delphi eInvoicing system. Users must complete a user request form and provide the following information: Full name, work address, work phone number, work email address, home address and home phone number. Once completed, this form must be presented to a Notary Public for verification. Once notarized, the prospective grantee user will return the form to receive their login credentials. • DOT Office of Financial Management officials may allow exceptions to the requirement that grantees register and submit payment requests through the Delphi eInvoicing system under limited circumstances. Recipients may apply for an exemption by submitting an electronic Waiver Request Form to the DOT Office of Financial Management. The exceptions will be considered on a case by case basis via Waiver Request Form. Affected Public: DOT Grant Recipients. Estimated Number of Respondents: 11,000. Estimated Number of Responses: 11,000. Annual Estimated Total Annual Burden Hours: 22,000 (est. 2 hours to complete process × 11,000 recipients). Frequency of Collection: One time. Comments: Comments are invited on: Whether the proposed collection of information is necessary for the proper performance of the functions of the Department, including whether the information will have practical utility; the accuracy of the Department’s estimate of the burden of the proposed information collection; ways to enhance the quality, utility and clarity of the information to be collected; and ways to minimize the burden of the collection of information on respondents. Issued in Washington, DC, on January 12, 2012. Patricia Lawton, Paperwork Reduction Act Clearance Officer, Department of Transportation. [FR Doc. 2012–944 Filed 1–18–12; 8:45 am] BILLING CODE 4910–9X–P E:\FR\FM\19JAN1.SGM 19JAN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 77, Number 12 (Thursday, January 19, 2012)]
[Notices]
[Pages 2772-2773]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-897]



[[Page 2772]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-66140; File No. SR-C2-2012-002]


Self-Regulatory Organizations; C2 Options Exchange, Incorporated; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
To Amend the Fees Schedule

January 11, 2012.
    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 January 6, 2012, the C2 Options Exchange, Incorporated (the 
``Exchange'' or ``C2'') filed with the Securities and Exchange 
Commission (the ``Commission'') the proposed rule change as described 
in Items I, II, and III below, which Items have been substantially 
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 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.

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
    On September 2, 2011, the Commission approved a proposed rule 
change filed by the Exchange to permit on a pilot basis the listing and 
trading on C2 of Standard & Poor's 500 Index (``S&P 500'') options with 
third-Friday-of-the-month (``Expiration Friday'') expiration dates for 
which the exercise settlement value will be based on the index value 
derived from the closing prices of component securities (``SPXPM'').\3\ 
On September 28, 2011, the Exchange filed an immediately-effective rule 
change to adopt fees associated with the anticipated trading of SPXPM 
(the ``Initial SPXPM Fees Filing'').\4\ In the Initial SPXPM Fees 
Filing, the Exchange adopted an SPXPM Tier Appointment Fee of $4,000 
which would be charged to any Market-Maker Permit holder that has an 
appointment (registration) in SPXPM at any time during a calendar 
month, but the Exchange also waived that fee through November 30, 2011. 
On November 23, the Exchange extended that waiver through December 31, 
2011.\5\ The Exchange had intended to extend that waiver through 
February 29, 2012, but unintentionally did not do so. The Exchange 
hereby proposes continuing that waiver through February 2012. The SPXPM 
Tier Appointment Fee for January 2012, which would have been billed at 
the end of the month, will not be billed. The purpose of this waiver 
extension is to allow more time for the SPXPM market to develop and 
allow and encourage Market-Makers to join in and elect for an SPXPM 
Tier Appointment.
---------------------------------------------------------------------------

    \3\ See Securities Exchange Act Release No. 34-65256 (September 
2, 2011), 76 FR 55969 (September 9, 2011) (SR-C2-2011-008).
    \4\ See Securities Exchange Act Release No. 34-65471 (October 3, 
2011), 76 FR 62491 (October 7, 2011) (SR-C2-2011-026).
    \5\ See Securities Exchange Act Release No. 34-65874 (December 
2, 2011), 76 FR 76785 (December 8, 2011) (SR-C2-2011-037).
---------------------------------------------------------------------------

2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the 
Act,\6\ in general, and furthers the objectives of Section 6(b)(4) \7\ 
of the Act in particular, in that it is designed to provide for the 
equitable allocation of reasonable dues, fees, and other charges among 
C2 Trading Permit Holders and other persons using Exchange facilities. 
Continuing the waiver of the SPXPM Tier Appointment Fee is reasonable 
because it will allow Market-Makers with an SPXPM Tier Appointment to 
avoid paying the Tier Appointment Fee for another month [sic],\8\ and 
is equitable and not unfairly discriminatory because all Market-Makers 
with an SPXPM Tier Appointment will be able to avoid paying the SPXPM 
Tier Appointment Fee through February 29, 2012.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(4).
    \8\ The Commission notes that C2 has proposed to extend the 
waiver for an additional two months, not one month as the Exchange 
stated.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    C2 does not believe that the proposed rule change will impose any 
burden on competition 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 email to rule-comments@sec.gov. Please include 
File Number SR-C2-2012-002 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-C2-2012-002. This file 
number should be included on the

[[Page 2773]]

subject line if email 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 C2. All comments received will be posted 
without change; the Commission does not edit personal identifying 
information from submissions. You should submit only information that 
you wish to make available publicly. All submissions should refer to 
File Number SR-C2-2012-002 and should be submitted on or before 
February 9, 2012.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-897 Filed 1-18-12; 8:45 am]
BILLING CODE 8011-01-P

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