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, 47453-47455 [2012-19360]
Download as PDF
Federal Register / Vol. 77, No. 153 / Wednesday, August 8, 2012 / Notices
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 12 and Rule 19b–4(f)(6)(iii)
thereunder.13
A proposed rule change filed under
Rule 19b–4(f)(6) 14 normally does not
become operative for 30 days after the
date of filing. However, pursuant to
Rule 19b–4(f)(6)(iii) 15 the Commission
may designate a shorter time if such
action is consistent with the protection
of investors and the public interest. The
Exchange has asked the Commission to
waive the 30-day operative delay so that
the proposal may become operative
immediately upon filing.
The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest, as it
will allow the pilot program to continue
uninterrupted, thereby avoiding the
investor confusion that could result
from a temporary interruption in the
pilot program. For this reason, the
Commission designates the proposed
rule change to be operative upon
filing.16
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
12 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.
14 17 CFR 240.19b–4(f)(6).
15 17 CFR 240.19b–4(f)(6)(iii).
16 For purposes only of waiving the 30-day
operative delay, the Commission has also
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
wreier-aviles on DSK7SPTVN1PROD with NOTICES
13 17
VerDate Mar<15>2010
15:11 Aug 07, 2012
Jkt 226001
• Send an Email to rulecomments@sec.gov. Please include File
No. SR–NSX–2012–11 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–NSX–2012–11. 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 Commissions
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
printing in the Commission’s Public
Reference Room. 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–NSX–
2012–11 and should be submitted by
August 29, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.17
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–19358 Filed 8–7–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–67580; File No. SR–CBOE–
2012–073]
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
August 2, 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 July 26,
2012, 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 comment 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 for its CBOE Stock
Exchange (‘‘CBSX’’). The text of the
proposed rule change is available on the
Exchange’s Web site (https://
www.cboe.com/AboutCBOE/
CBOELegalRegulatoryHome.aspx), at
the Exchange’s Office of the Secretary,
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.
1 15
17 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00096
Fmt 4703
Sfmt 4703
47453
2 17
E:\FR\FM\08AUN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
08AUN1
47454
Federal Register / Vol. 77, No. 153 / Wednesday, August 8, 2012 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
CBSX proposes to amend its Fees
Schedule regarding transactions in
securities priced $1 or greater.
Currently, the highest Maker fee tier is
for Makers who add 15 million or more
shares of liquidity in one day, with the
fee for such Makers being $0.0015 per
share. The Exchange proposes to add a
higher Maker tier, for those Makers who
add 25 million or more shares of
liquidity in one day. Such Makers will
be assessed a lower fee of $0.0014 per
share. Makers who add 15,000,000—
24,999,999 shares of liquidity in one
day will still be assessed the $0.0015
per share fee.
As before, the different rates for
different Maker tiers apply to all
transactions in securities priced $1 or
greater made by the same market
participant in any day in which such
participant adds the established amount
of shares or more of liquidity that is
determined for each tier. Market
participants who share a trading
acronym or MPID may aggregate their
trading activity for purposes of these
rates. Qualification for these rates will
require that a market participant
appropriately indicate his trading
acronym and/or MPID in the
appropriate field on the order.
The Exchange proposes this higher
tier with accompanying lower fee in
order to incentivize market participants
to add more liquidity to CBSX. The
proposed change is to take effect on
August 1, 2012.
wreier-aviles on DSK7SPTVN1PROD with NOTICES
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the Act
and the rules and regulations
thereunder applicable to the Exchange
and, in particular, the requirements of
Section 6(b) of the Act.3 Specifically,
the Exchange believes the proposed rule
change is consistent with Section 6(b)(4)
of the Act,4 which provides that
Exchange rules may provide for the
equitable allocation of reasonable dues,
fees, and other charges among its
Trading Permit Holders and other
persons using its facilities. The
proposed new Maker fee of $0.0014 per
share for Makers who add 25 million or
more shares of liquidity in one day is
reasonable because the amount is lower
3 15
4 15
U.S.C. 78f(b).
U.S.C. 78(b)(4).
VerDate Mar<15>2010
15:11 Aug 07, 2012
than Makers who add that amount of
shares in one day currently pay.
The reduced fee tier is equitable and
not unfairly discriminatory because it
will encourage market participants to
trade on CBSX and bring greater
liquidity to CBSX, which will benefit all
market participants. By encouraging
market participants to hit a threshold of
executing greater amounts of shares a
day (at which point such market
participants would receive the
corresponding lower Maker fees for all
shares executed by the market
participant that day), the Exchange
incentivizes market participants who
may be able to meet that threshold to
add more volume and liquidity to the
CBSX marketplace. This increased
volume and liquidity would benefit all
CBSX market participants, including
those who do not trade at the higher
levels, by providing them with more
opportunities for execution. Orders that
provide liquidity increase the likelihood
that CBSX market participants seeking
to access liquidity will have their orders
filled. If the lower rates did not exist for
market participants who execute
increased amounts of shares a day, even
those market participants who do not
hit those thresholds would not receive
the benefit of this added volume and
liquidity. As such, the Exchange
believes that it is reasonable and
equitable to use pricing incentives, such
as lower fees for creating large amounts
of liquidity, to encourage market
participants to increase their
participation in the market.
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
The Exchange neither solicited nor
received comments on the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A) 5 of the Act and paragraph (f)
of Rule 19b–4 6 thereunder. At any time
within 60 days of the filing of the
proposed rule change, the Commission
5 15
6 17
Jkt 226001
PO 00000
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f).
Frm 00097
Fmt 4703
Sfmt 4703
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–2012–073 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–2012–073. 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
10:00 a.m. and 3:00 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–
E:\FR\FM\08AUN1.SGM
08AUN1
Federal Register / Vol. 77, No. 153 / Wednesday, August 8, 2012 / Notices
2012–073 and should be submitted on
or before August 29, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–19360 Filed 8–7–12; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–67582; File No. SR–
NASDAQ–2012–092]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change Relating to
Options on the MSCI EM and MSCI
EAFE Indexes
August 2, 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 July 24,
2012, The NASDAQ Stock Market LLC
(‘‘NASDAQ’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the Exchange. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
wreier-aviles on DSK7SPTVN1PROD with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The NASDAQ Stock Market LLC
(‘‘NASDAQ’’ or ‘‘Exchange’’) proposes
to amend the rules of The NASDAQ
Options Market LLC (‘‘NOM’’) at
Sections 2, 3, 5, 10, 11 and 13 of
Chapter XIV, entitled ‘‘Index Rules’’ to
list and trade options on the MSCI EM
Index based upon the Full Value MSCI
Emerging Markets (‘‘EM’’) Index (‘‘MSCI
EM Index’’) and the MSCI EAFE
(Europe, Australasia, and the Far East)
Index based upon the Full Value MSCI
EAFE Index (‘‘MSCI EAFE Index’’).3
The text of the proposed rule change
is available on the Exchange’s Web site
at https://www.nasdaq.
cchwallstreet.com, at the principal
office of the Exchange, and at the
Commission’s Public Reference Room.
7 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 NASDAQ has entered into a license agreement
with MSCI Inc. to list these products.
VerDate Mar<15>2010
15:11 Aug 07, 2012
Jkt 226001
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. 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 the proposed rule
change is to amend Sections 2
(Definitions), 3 (Designation of A BroadBased Index), 5 (Position Limits for
Broad-Based Index Options), 10
(Trading Sessions) and 11 (Terms of
Index Options Contracts) of Chapter
XIV, entitled ‘‘Index Rules’’ to list and
trade P.M.-cash-settled, European-style
options, on the MSCI EM and MSCI
EAFE Indexes. The Exchange also
proposes to amend Section 13
(Disclaimers) of Chapter XIV to add
detailed information pertaining to the
indexes as required by the licensor
including, but not limited to, liability
and other representations on the part of
MSCI Inc.
The MSCI EM Index is a free floatadjusted market capitalization index 4
that is designed to measure equity
market performance of emerging
markets. The MSCI EM Index consists of
component securities from the following
twenty-one (21) emerging market
countries: Brazil, Chile, China,
Colombia, Czech Republic, Egypt,
Hungary, India, Indonesia, Korea,
Malaysia, Mexico, Morocco, Peru,
Philippines, Poland, Russia, South
Africa, Taiwan, Thailand, and Turkey.
The MSCI EAFE Index is a free floatadjusted market capitalization index
that is designed to measure the equity
market performance of developed
markets, excluding the U.S. and Canada.
The MSCI EAFE Index consists of
component securities from the following
twenty-two (22) developed market
countries: Australia, Austria, Belgium,
Denmark, Finland, France, Germany,
Greece, Hong Kong, Ireland, Israel, Italy,
4 The
free float adjusted market capitalization is
used to calculate the weights of the securities in the
indices. MSCI defines the free float of a security as
the proportion of shares outstanding that is deemed
to be available for purchase in the public equity
markets by international investors.
PO 00000
Frm 00098
Fmt 4703
Sfmt 4703
47455
Japan, the Netherlands, New Zealand,
Norway, Portugal, Singapore, Spain,
Sweden, Switzerland, and the United
Kingdom.
Index Design and Composition
The MSCI EM Index is designed to
measure equity market performance in
the global emerging markets. The index
is maintained by MSCI Inc. (‘‘MSCI’’).5
The index was launched on December
31, 1987. The MSCI EAFE Index is
designed to measure international
equity performance. It consists of
component securities from countries
that represent developed markets
outside of North America: Europe,
Australasia and the Far East. The Index,
similar to the MSCI EM Index, is
maintained by MSCI. The Index was
launched on December 31, 1969.
The MSCI EM Index and the MSCI
EAFE Index are reviewed on a semiannual basis. The index review is based
on MSCI’s Global Investable Markets
Indices Methodology. A description of
the methodology is available at https://
www.msci.com/eqb/methodology/
meth_docs/MSCI_May12_
IndexCalcMethodology.pdf. The MSCI
EM Index consists of large and midcap
components from countries classified by
MSCI as ‘‘emerging markets.’’ The MSCI
EAFE Index consists of large and
midcap components from countries
classified by MSCI as developed and
excludes North America.
Index Calculation and Index
Maintenance
The base index value of the MSCI EM
Index was 100 as of December 31, 1987.
The base index value of the MSCI EAFE
Index was 100 as of December 31, 1969.
On June 1, 2012, the index value of the
MSCI EM Index was 893.86. On June 1,
2012, the index value of the MSCI EAFE
Index was 1312.34. The MSCI EM Index
and the MSCI EAFE Index are
calculated in U.S. Dollars on a real time
basis from the open of the first market
on which the components are traded to
the closing of the last market on which
the components are traded. The
methodology used to calculate the value
of the MSCI EM Index and the MSCI
EAFE Index is similar to the
methodology used to calculate the value
of other well-known marketcapitalization weighted indexes.6 The
level of the MSCI EM and EAFE Indexes
reflect the free float-adjusted market
5 MSCI is a provider of investment decision
support tools.
6 Additional information about the methodology
for calculating the MSCI EM and the MSCI EAFE
Indexes can be found at: https://www.msci.com/eqb/
methodology/meth_docs/MSCI_May12_
IndexCalcMethodology.pdf.
E:\FR\FM\08AUN1.SGM
08AUN1
Agencies
[Federal Register Volume 77, Number 153 (Wednesday, August 8, 2012)]
[Notices]
[Pages 47453-47455]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-19360]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-67580; File No. SR-CBOE-2012-073]
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
August 2, 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 July 26, 2012, 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 comment
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 for its CBOE Stock
Exchange (``CBSX''). The text of the proposed rule change is available
on the Exchange's Web site (https://www.cboe.com/AboutCBOE/CBOELegalRegulatoryHome.aspx), at the Exchange's Office of the
Secretary, 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.
[[Page 47454]]
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
CBSX proposes to amend its Fees Schedule regarding transactions in
securities priced $1 or greater. Currently, the highest Maker fee tier
is for Makers who add 15 million or more shares of liquidity in one
day, with the fee for such Makers being $0.0015 per share. The Exchange
proposes to add a higher Maker tier, for those Makers who add 25
million or more shares of liquidity in one day. Such Makers will be
assessed a lower fee of $0.0014 per share. Makers who add 15,000,000--
24,999,999 shares of liquidity in one day will still be assessed the
$0.0015 per share fee.
As before, the different rates for different Maker tiers apply to
all transactions in securities priced $1 or greater made by the same
market participant in any day in which such participant adds the
established amount of shares or more of liquidity that is determined
for each tier. Market participants who share a trading acronym or MPID
may aggregate their trading activity for purposes of these rates.
Qualification for these rates will require that a market participant
appropriately indicate his trading acronym and/or MPID in the
appropriate field on the order.
The Exchange proposes this higher tier with accompanying lower fee
in order to incentivize market participants to add more liquidity to
CBSX. The proposed change is to take effect on August 1, 2012.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Act and the rules and regulations thereunder applicable to the
Exchange and, in particular, the requirements of Section 6(b) of the
Act.\3\ Specifically, the Exchange believes the proposed rule change is
consistent with Section 6(b)(4) of the Act,\4\ which provides that
Exchange rules may provide for the equitable allocation of reasonable
dues, fees, and other charges among its Trading Permit Holders and
other persons using its facilities. The proposed new Maker fee of
$0.0014 per share for Makers who add 25 million or more shares of
liquidity in one day is reasonable because the amount is lower than
Makers who add that amount of shares in one day currently pay.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f(b).
\4\ 15 U.S.C. 78(b)(4).
---------------------------------------------------------------------------
The reduced fee tier is equitable and not unfairly discriminatory
because it will encourage market participants to trade on CBSX and
bring greater liquidity to CBSX, which will benefit all market
participants. By encouraging market participants to hit a threshold of
executing greater amounts of shares a day (at which point such market
participants would receive the corresponding lower Maker fees for all
shares executed by the market participant that day), the Exchange
incentivizes market participants who may be able to meet that threshold
to add more volume and liquidity to the CBSX marketplace. This
increased volume and liquidity would benefit all CBSX market
participants, including those who do not trade at the higher levels, by
providing them with more opportunities for execution. Orders that
provide liquidity increase the likelihood that CBSX market participants
seeking to access liquidity will have their orders filled. If the lower
rates did not exist for market participants who execute increased
amounts of shares a day, even those market participants who do not hit
those thresholds would not receive the benefit of this added volume and
liquidity. As such, the Exchange believes that it is reasonable and
equitable to use pricing incentives, such as lower fees for creating
large amounts of liquidity, to encourage market participants to
increase their participation in the market.
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
The Exchange neither solicited nor received comments on the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) \5\ of the Act and paragraph (f) of Rule 19b-4 \6\
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.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 CFR 240.19b-4(f).
---------------------------------------------------------------------------
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-CBOE-2012-073 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-2012-073. 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
10:00 a.m. and 3:00 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-
[[Page 47455]]
2012-073 and should be submitted on or before August 29, 2012.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
---------------------------------------------------------------------------
\7\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-19360 Filed 8-7-12; 8:45 am]
BILLING CODE 8011-01-P