Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the BOX Trading Rules Regarding the Short Term Option Series Program, 20684-20686 [2012-8173]

Download as PDF 20684 Federal Register / Vol. 77, No. 66 / Thursday, April 5, 2012 / Notices and, in general, protect investors and the public interest. 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 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 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 13 and subparagraph (f)(2) of Rule 19b–4 14 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–CBOE–2012–030 on the subject line. Tkelley on DSK3SPTVN1PROD with NOTICES 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–2012–030. This file number should be included on the 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 the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–CBOE– 2012–030 and should be submitted on or before April 26, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.15 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–8172 Filed 4–4–12; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–66705; File No. SR–BX– 2012–024] Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the BOX Trading Rules Regarding the Short Term Option Series Program March 30, 2012. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that, on March 29, 2012, NASDAQ OMX BX, Inc. (the ‘‘Exchange’’) filed with the Securities 15 17 13 15 14 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(2). VerDate Mar<15>2010 16:20 Apr 04, 2012 Jkt 226001 PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the Trading Rules of the Boston Options Exchange Group, LLC (‘‘BOX’’) regarding the Short Term Option Series Program. The text of the proposed rule change is available from the principal office of the Exchange, on the Exchange’s Internet Web site at https:// nasdaqomxbx.cchwallstreet.com/ NASDAQOMXBX/Filings/, 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 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 The purpose of this proposed rule change is to amend Supplementary Material .07 to Chapter IV, Section 6 (Series of Options Open for Trading) and Supplementary Material .02 to Chapter XIV, Section 10 (Terms of Index Options Contracts) to expand the Short Term Option Series Program (‘‘Weeklys Program’’).3 Specifically, the Exchange proposes to amend the BOX Rules to allow BOX to open short term option series that are opened by other securities exchanges in option classes selected by other exchanges under their respective short term option rules. Currently, BOX may select up to 30 currently listed option classes on which short term option series may be opened 3 The Exchange adopted the Weeklys Program on July 15, 2010. See Securities Exchange Act Release No. 62505 (July 15, 2010), 75 FR 42792 (July 22, 2010) (SR–BX–2010–047). E:\FR\FM\05APN1.SGM 05APN1 Tkelley on DSK3SPTVN1PROD with NOTICES Federal Register / Vol. 77, No. 66 / Thursday, April 5, 2012 / Notices in the Weeklys Program. BOX may also match any option classes that are selected by other securities exchanges that employ a similar program under their respective rules. For each option class eligible for participation in the Weeklys Program, BOX may open up to 30 short term option series for each expiration date in that class. This proposal seeks to allow BOX to open short term option series that are opened by other securities exchanges in option classes selected by other exchanges under their respective short term option rules. This change is being proposed notwithstanding the current cap of 30 series per class under the Weeklys Program. This is a competitive filing and is based on approved filings and existing rules of The NASDAQ Stock Market LLC for the NASDAQ Options Market (‘‘NOM’’) and NASDAQ OMX PHLX, Inc. (‘‘PHLX’’).4 BOX is competitively disadvantaged since it operates a substantially similar Weeklys Program as NOM and PHLX but is limited to listing a maximum of 30 series per options class that participates in its Weeklys Program (whereas PHLX and NOM are not similarly restricted). The Exchange is not proposing any changes to the Weeklys Program other than the ability to open short term option series that are opened by other securities exchanges in option classes selected by other exchanges under their respective short term option rules. BOX notes that the Weeklys Program has been well-received by market participants, in particular by retail investors. BOX believes that the current proposed revision to the Weeklys Program will permit BOX to meet increased customer demand and provide market participants with the ability to hedge in a greater number of option classes and series. With regard to the impact of this proposal on system capacity, BOX has analyzed its capacity and represents that it and the Options Price Reporting Authority (‘‘OPRA’’) have the necessary systems capacity to handle the potential additional traffic associated with trading of an expanded number of series for the classes that participate in the Weeklys Program. The proposed increase to the number of series per classes eligible to participate in the Weeklys Program is required for competitive purposes as well as to ensure consistency and uniformity among the competing 4 See Securities Exchange Act Release Nos. 65775 (November 17, 2011), 76 FR 72473 (November 23, 2011) (SR–NASDAQ–2011–138) and 65776 (November 17, 2011), 76 FR 72482 (November 23, 2011) (SR–PHLX–2011–131). VerDate Mar<15>2010 16:20 Apr 04, 2012 Jkt 226001 options exchanges that have adopted similar Weeklys Programs. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Securities Exchange Act of 1934 5 (the ‘‘Act’’) in general, and furthers the objectives of Section 6(b)(5) of the Act 6 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general to protect investors and the public interest. The Exchange believes that expanding the current short term options program will result in a continuing benefit to investors by giving them more flexibility to closely tailor their investment decisions and hedging decisions in greater number of securities. The Exchange believes that expanding the current program would provide the investing public and other market participants increased opportunities because an expanded program would provide market participants additional opportunities to hedge their investment thus allowing these investors to better manage their risk exposure. While the expansion of the Weeklys Program will generate additional quote traffic, the Exchange does not believe that this increased traffic will become unmanageable since the proposal remains limited to a fixed number of classes. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition not necessary or appropriate in furtherance of the purposes of the Act. In this regard and as indicated above, the Exchange notes that the rule change is being proposed as a competitive response to existing NOM and PHLX rules. The Exchange believes this proposed rule change is necessary to permit fair competition among the options exchanges with respect to their short term options programs. 5 15 6 15 PO 00000 U.S.C. 78f(b). U.S.C. 78f(b)(5). Frm 00076 Fmt 4703 Sfmt 4703 20685 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not significantly affect the protection of investors or the public interest, does not impose any significant burden on competition, and, by its terms, does not 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 19(b)(3)(A) of the Act 7 and Rule 19b– 4(f)(6) thereunder.8 The Exchange has requested that the Commission waive the 30-day operative delay. The Commission believes that waiver of the operative delay is consistent with the protection of investors and the public interest because the proposal is substantially similar to those of other exchanges that have been approved by the Commission that permit an exchange to open short term option series that are opened by other securities exchanges to participate in such exchange’s respective short term option series program.9 Therefore, the Commission designates the proposal operative upon filing.10 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. 7 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). In addition, Rule 19b– 4(f)(6)(iii) requires the Exchange to give the Commission written notice of the Exchange’s intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has satisfied this requirement. 9 See supra note 4. 10 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 8 17 E:\FR\FM\05APN1.SGM 05APN1 20686 Federal Register / Vol. 77, No. 66 / Thursday, April 5, 2012 / Notices Comments may be submitted by any of the following methods: DEPARTMENT OF STATE [Public Notice 7841] 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–BX–2012–024 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. Tkelley on DSK3SPTVN1PROD with NOTICES All submissions should refer to File Number SR–BX–2012–024. This file number should be included on the 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 the filing also will be available for inspection and copying at the principal office of the Exchange. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–BX– 2012–024 and should be submitted on or before April 26, 2012. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Kevin M. O’Neill, Deputy Secretary. [FR Doc. 2012–8173 Filed 4–4–12; 8:45 am] BILLING CODE 8011–01–P 11 17 CFR 200.30–3(a)(12). VerDate Mar<15>2010 16:20 Apr 04, 2012 Jkt 226001 60-Day Notice of Proposed Information Collections: Two DDTC Brokering Collections Notice of request for public comments. ACTION: The Department of State is seeking Office of Management and Budget (OMB) approval for the information collections described below. The purpose of this notice is to allow 60 days for public comment in the Federal Register preceding submission to OMB. We are conducting this process in accordance with the Paperwork Reduction Act of 1995. These collections were published for public comment on December 19, 2011 (see 76 FR 78578). On that occasion, public comment was sought in the context of the proposed rule regarding the revision of part 129 of the International Traffic in Arms Regulations, which covers brokering of defense articles and services, and is the regulatory basis for these collections. The Department of State is now seeking OMB approval of the current collections, without reference to the changes in the proposed rule. The revised collections will be submitted for OMB review and approval in conjunction with the brokering final rule. • Title of Information Collection: Brokering Prior Approval (License). • OMB Control Number: 1405–0142. • Type of Request: Extension of Currently Approved Collection. • Originating Office: Bureau of Political-Military Affairs, Directorate of Defense Trade Controls, PM/DDTC. • Form Number: None. • Respondents: Business and Nonprofit Organizations. • Estimated Number of Respondents: 1,515. • Estimated Number of Responses: 150. • Average Hours per Response: 2 hours. • Total Estimated Burden: 300 hours. • Frequency: On Occasion. • Obligation to Respond: Required to Obtain Benefits. • Title of Information Collection: Annual Brokering Report. • OMB Control Number: 1405–0141. • Type of Request: Extension of Currently Approved Collection. • Originating Office: Bureau of Political-Military Affairs, Directorate of Defense Trade Controls, PM/DDTC. • Form Number: None. SUMMARY: PO 00000 Frm 00077 Fmt 4703 Sfmt 4703 • Respondents: Business and Nonprofit Organizations. • Estimated Number of Respondents: 1,515. • Estimated Number of Responses: 1,515. • Average Hours per Response: 2 hours. • Total Estimated Burden: 3,030 hours. • Frequency: Annually. • Obligation to Respond: Mandatory. DATES: The Department will accept comments from the public up to 60 days from April 5, 2012. ADDRESSES: Comments and questions should be directed to Nicholas Memos, Office of Defense Trade Controls Policy, Department of State, who may be reached via the following methods: • Web: Persons with access to the Internet may view and comment on this notice by going to the Federal regulations Web site at www.regulations.gov. You can search for the document by: selecting ‘‘Notice’’ under Document Type, entering the Public Notice number as the ‘‘Keyword or ID’’, checking the ‘‘Open for Comment’’ box, and then click ‘‘Search.’’ If necessary, use the ‘‘Narrow by Agency’’ option on the Results page. • Email: memosni@state.gov. • Mail: Nicholas Memos, SA–1, 12th Floor, Directorate of Defense Trade Controls, Bureau of Political-Military Affairs, U.S. Department of State, Washington, DC 20522–0112. You must include the information collection title in the subject lines of your message/letter. FOR FURTHER INFORMATION CONTACT: Direct requests for additional information regarding the collection listed in this notice to Nicholas Memos, PM/DDTC, SA–1, 12th Floor, Directorate of Defense Trade Controls, Bureau of Political-Military Affairs, U.S. Department of State, Washington, DC 20522–0112, who may be reached via phone at (202) 663–2829, or via email at memosni@state.gov. SUPPLEMENTARY INFORMATION: We are soliciting public comments to permit the Department to: • Evaluate whether the proposed collection of information is necessary for the proper performance of our functions. • Evaluate the accuracy of our estimate of the burden of the proposed collection, including the validity of the methodology and assumptions used. • Enhance the quality, utility, and clarity of the information to be collected. • Minimize the reporting burden on those who are to respond, including the E:\FR\FM\05APN1.SGM 05APN1

Agencies

[Federal Register Volume 77, Number 66 (Thursday, April 5, 2012)]
[Notices]
[Pages 20684-20686]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-8173]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-66705; File No. SR-BX-2012-024]


Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of 
Filing and Immediate Effectiveness of a Proposed Rule Change To Amend 
the BOX Trading Rules Regarding the Short Term Option Series Program

March 30, 2012.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that, on March 29, 2012, NASDAQ OMX BX, Inc. (the ``Exchange'') filed 
with the Securities and Exchange Commission (the ``Commission'') the 
proposed rule change as described in Items I and II below, which Items 
have been prepared by the Exchange. The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the Trading Rules of the Boston 
Options Exchange Group, LLC (``BOX'') regarding the Short Term Option 
Series Program. The text of the proposed rule change is available from 
the principal office of the Exchange, on the Exchange's Internet Web 
site at https://nasdaqomxbx.cchwallstreet.com/NASDAQOMXBX/Filings/, 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 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
    The purpose of this proposed rule change is to amend Supplementary 
Material .07 to Chapter IV, Section 6 (Series of Options Open for 
Trading) and Supplementary Material .02 to Chapter XIV, Section 10 
(Terms of Index Options Contracts) to expand the Short Term Option 
Series Program (``Weeklys Program'').\3\ Specifically, the Exchange 
proposes to amend the BOX Rules to allow BOX to open short term option 
series that are opened by other securities exchanges in option classes 
selected by other exchanges under their respective short term option 
rules.
---------------------------------------------------------------------------

    \3\ The Exchange adopted the Weeklys Program on July 15, 2010. 
See Securities Exchange Act Release No. 62505 (July 15, 2010), 75 FR 
42792 (July 22, 2010) (SR-BX-2010-047).
---------------------------------------------------------------------------

    Currently, BOX may select up to 30 currently listed option classes 
on which short term option series may be opened

[[Page 20685]]

in the Weeklys Program. BOX may also match any option classes that are 
selected by other securities exchanges that employ a similar program 
under their respective rules. For each option class eligible for 
participation in the Weeklys Program, BOX may open up to 30 short term 
option series for each expiration date in that class.
    This proposal seeks to allow BOX to open short term option series 
that are opened by other securities exchanges in option classes 
selected by other exchanges under their respective short term option 
rules. This change is being proposed notwithstanding the current cap of 
30 series per class under the Weeklys Program. This is a competitive 
filing and is based on approved filings and existing rules of The 
NASDAQ Stock Market LLC for the NASDAQ Options Market (``NOM'') and 
NASDAQ OMX PHLX, Inc. (``PHLX'').\4\
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release Nos. 65775 (November 17, 
2011), 76 FR 72473 (November 23, 2011) (SR-NASDAQ-2011-138) and 
65776 (November 17, 2011), 76 FR 72482 (November 23, 2011) (SR-PHLX-
2011-131).
---------------------------------------------------------------------------

    BOX is competitively disadvantaged since it operates a 
substantially similar Weeklys Program as NOM and PHLX but is limited to 
listing a maximum of 30 series per options class that participates in 
its Weeklys Program (whereas PHLX and NOM are not similarly 
restricted).
    The Exchange is not proposing any changes to the Weeklys Program 
other than the ability to open short term option series that are opened 
by other securities exchanges in option classes selected by other 
exchanges under their respective short term option rules.
    BOX notes that the Weeklys Program has been well-received by market 
participants, in particular by retail investors. BOX believes that the 
current proposed revision to the Weeklys Program will permit BOX to 
meet increased customer demand and provide market participants with the 
ability to hedge in a greater number of option classes and series.
    With regard to the impact of this proposal on system capacity, BOX 
has analyzed its capacity and represents that it and the Options Price 
Reporting Authority (``OPRA'') have the necessary systems capacity to 
handle the potential additional traffic associated with trading of an 
expanded number of series for the classes that participate in the 
Weeklys Program.
    The proposed increase to the number of series per classes eligible 
to participate in the Weeklys Program is required for competitive 
purposes as well as to ensure consistency and uniformity among the 
competing options exchanges that have adopted similar Weeklys Programs.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Securities Exchange Act of 1934 \5\ (the 
``Act'') in general, and furthers the objectives of Section 6(b)(5) of 
the Act \6\ in particular, in that it is designed to prevent fraudulent 
and manipulative acts and practices, to promote just and equitable 
principles of trade, to foster cooperation and coordination with 
persons engaged in facilitating transactions in securities, to remove 
impediments to and perfect the mechanism of a free and open market and 
a national market system, and, in general to protect investors and the 
public interest. The Exchange believes that expanding the current short 
term options program will result in a continuing benefit to investors 
by giving them more flexibility to closely tailor their investment 
decisions and hedging decisions in greater number of securities. The 
Exchange believes that expanding the current program would provide the 
investing public and other market participants increased opportunities 
because an expanded program would provide market participants 
additional opportunities to hedge their investment thus allowing these 
investors to better manage their risk exposure. While the expansion of 
the Weeklys Program will generate additional quote traffic, the 
Exchange does not believe that this increased traffic will become 
unmanageable since the proposal remains limited to a fixed number of 
classes.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition not necessary or appropriate in 
furtherance of the purposes of the Act. In this regard and as indicated 
above, the Exchange notes that the rule change is being proposed as a 
competitive response to existing NOM and PHLX rules. The Exchange 
believes this proposed rule change is necessary to permit fair 
competition among the options exchanges with respect to their short 
term options programs.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the foregoing proposed rule change does not significantly 
affect the protection of investors or the public interest, does not 
impose any significant burden on competition, and, by its terms, does 
not 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 19(b)(3)(A) of the Act \7\ and Rule 19b-
4(f)(6) thereunder.\8\
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii) 
requires the Exchange to give the Commission written notice of the 
Exchange's intent to file the proposed rule change, along with a 
brief description and text of the proposed rule change, at least 
five business days prior to the date of filing of the proposed rule 
change, or such shorter time as designated by the Commission. The 
Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day 
operative delay. The Commission believes that waiver of the operative 
delay is consistent with the protection of investors and the public 
interest because the proposal is substantially similar to those of 
other exchanges that have been approved by the Commission that permit 
an exchange to open short term option series that are opened by other 
securities exchanges to participate in such exchange's respective short 
term option series program.\9\ Therefore, the Commission designates the 
proposal operative upon filing.\10\
---------------------------------------------------------------------------

    \9\ See supra note 4.
    \10\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission summarily may temporarily suspend such rule 
change if it appears to the Commission that such action is necessary or 
appropriate in the public interest, for the protection of investors, or 
otherwise in furtherance of the purposes of the Act.

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.

[[Page 20686]]

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-BX-2012-024 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-BX-2012-024. This file 
number should be included on the 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 the filing also will be available for 
inspection and copying at the principal office of the Exchange. All 
comments received will be posted without change; the Commission does 
not edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly. All 
submissions should refer to File Number SR-BX-2012-024 and should be 
submitted on or before April 26, 2012.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
Kevin M. O'Neill,
Deputy Secretary.
---------------------------------------------------------------------------

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

[FR Doc. 2012-8173 Filed 4-4-12; 8:45 am]
BILLING CODE 8011-01-P
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