Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Equities Rule 7.31(x) To Clarify That When There Is an Early Scheduled Close, the 3:45 p.m. ET Time Specified in the Rule Is Adjusted to 15 Minutes Before the Early Scheduled Close, 69901-69903 [2012-28259]
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Federal Register / Vol. 77, No. 225 / Wednesday, November 21, 2012 / Notices
before the meeting, if possible, so that
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to allow necessary time during the
meeting for such statements. In view of
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rescheduling would result in major
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Thirty-five hard copies of each
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Dated: November 15, 2012.
Andrew L. Bates,
Advisory Committee Management Officer.
SECURITIES AND EXCHANGE
COMMISSION
[FR Doc. 2012–28307 Filed 11–20–12; 8:45 am]
69901
[Release No. 34–68239; File No. SR–
NYSEARCA–2012–125]
BILLING CODE 7590–01–P
OVERSEAS PRIVATE INVESTMENT
CORPORATION
Sunshine Act Meeting Notice;
December 6, 2012 Board of Directors
Meeting
Thursday, December 6,
2012, 10 a.m. (OPEN Portion) 10:15 a.m.
(CLOSED Portion)
TIME AND DATE:
Offices of the Corporation,
Twelfth Floor Board Room, 1100 New
York Avenue NW., Washington, DC.
PLACE:
Meeting OPEN to the Public
from 10 a.m. to 10:15 a.m. Closed
portion will commence at 10:15 a.m.
(approx.)
STATUS:
Matters To Be Considered
1. President’s Report
2. Minutes of the Open Session of the
September 13, 2012 Board of Directors
Meeting
Further Matters To Be Considered
(Closed to the Public 10:15 a.m.)
1. Finance Project—Nigeria
2. Finance Project –Africa
3. Finance Project—Russia
4. Minutes of the Closed Session of
the September 13, 2012 Board of
Directors Meeting
5. Reports
6. Pending Major Projects
Written summaries of the projects to
be presented have be posted on OPIC’s
web site.
CONTACT PERSON FOR INFORMATION:
Information on the meeting may be
obtained from Connie M. Downs at (202)
336–8438.
Dated: November 19, 2012.
Connie M. Downs,
Corporate Secretary, Overseas Private
Investment Corporation.
[FR Doc. 2012–28416 Filed 11–19–12; 4:15 pm]
BILLING CODE 3210–01–P
PO 00000
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Amending NYSE Arca
Equities Rule 7.31(x) To Clarify That
When There Is an Early Scheduled
Close, the 3:45 p.m. ET Time Specified
in the Rule Is Adjusted to 15 Minutes
Before the Early Scheduled Close
November 15, 2012
Pursuant to Section 19(b)(1) 1 of the
Securities Exchange Act of 1934 (the
‘‘Act’’) 2 and Rule 19b–4 thereunder,3
notice is hereby given that, on
November 6, 2012, NYSE Arca, Inc. (the
‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 prepared by the selfregulatory organization. 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
NYSE Arca Equities Rule 7.31(x) to
clarify that when there is an early
scheduled close, the 3:45 p.m. ET time
specified in the rule is adjusted to 15
minutes before the early scheduled
close. The text of the proposed rule
change is available on the Exchange’s
Web site at www.nyse.com, at the
principal office of the Exchange, 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
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.
1 15
U.S.C. 78s(b)(1).
U.S.C. 78a.
3 17 CFR 240.19b–4.
2 15
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69902
Federal Register / Vol. 77, No. 225 / Wednesday, November 21, 2012 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
NYSE Arca Equities Rule 7.31(x) to
clarify that when there is an early
scheduled close, the 3:45 p.m. ET time
specified in the rule is adjusted to 15
minutes before the early scheduled
close.
NYSE Arca Equities Rule 7.31(x)
defines the Exchange’s Primary Only
Order (‘‘PO Order’’), which is a market
or limit order to be routed to the
primary market. The rule currently
provides that PO Orders routed to the
New York Stock Exchange LLC
(‘‘NYSE’’) or NYSE MKT LLC (‘‘NYSE
MKT’’) that are designated as Market on
Close (‘‘MOC’’) or Limit on Close
(‘‘LOC’’) may not be electronically
cancelled or reduced in size after 3:45
p.m. ET and that any electronic
submissions after 3:45 p.m. ET will be
automatically rejected.
The 3:45 p.m. ET time specified in
NYSE Arca Equities Rule 7.31(x) is
based on NYSE Rule 123C and NYSE
MKT Rule 123C—Equities requirements
governing the entry and cancellation of
MOC and LOC Orders after 3:45 p.m.
ET. In the case of an early scheduled
close, NYSE and NYSE MKT use a time
based on 15 minutes before the early
scheduled close instead of the 3:45 p.m.
time specified in the rule.4
The Exchange proposes to clarify
NYSE Arca Equities Rule 7.31(x) to
similarly provide that in the case of an
early scheduled close, the 3:45 p.m. ET
time would instead be 15 minutes
before the early scheduled close. In
addition, because the rules of NYSE
MKT regarding the designation ‘‘DNS’’
are the same as the rules of the NYSE,
the Exchange proposes to further clarify
the rule to add references to NYSE MKT
in addition to the existing references to
NYSE when discussing routing PO
Orders to the NYSE.
srobinson on DSK4SPTVN1PROD with
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) 5 of the
Securities Exchange Act of 1934 (the
‘‘Act’’), in general, and furthers the
4 The Exchange notes that the NYSE and NYSE
MKT have filed rule proposals to amend their
respective rules to clarify that when the scheduled
close of trading is before 4:00 p.m., the times
specified in NYSE Rule 123C and NYSE MKT Rule
123C—Equities shall be adjusted based on the early
closing time, and specifically, that references to
3:45 p.m. shall mean 15 minutes before the early
scheduled close. See SR–NYSE–2012–62 and SR–
NYSEMKT–2012–63.
5 15 U.S.C. 78f(b).
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Jkt 229001
objectives of Section 6(b)(5),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, and it is not designed to
permit unfair discrimination among
customers, brokers, or dealers. In
particular, the Exchange believes that
the proposed rule change to clarify that
the 3:45 p.m. ET time specified in NYSE
Arca Equities Rule 7.31(x) is adjusted in
the case of an early scheduled close
removes impediments to and perfects
the mechanism of a free and open
market and national market system
because it provides transparency in
Exchange rules of how times are
adjusted in NYSE Arca Equities Rule
7.31(x) in the case of an early scheduled
close.
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 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 Exchange has filed the proposed
rule change pursuant to Section
19(b)(3)(A)(iii) of the Act 7 and Rule
19b–4(f)(6) thereunder.8 Because the
proposed rule change does not: (i)
Significantly affect the protection of
investors or the public interest; (ii)
impose any significant burden on
competition; and (iii) become operative
prior to 30 days from the date on which
it was filed, or such shorter time as the
Commission may designate, if
consistent with the protection of
investors and the public interest, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
6 15
U.S.C. 78f(b)(5).
U.S.C. 78s(b)(3)(A)(iii).
8 17 CFR 240.19b–4(f)(6).
7 15
PO 00000
Frm 00114
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of the Act and Rule 19b–4(f)(6)(iii)
thereunder.
A proposed rule change filed under
Rule 19b–4(f)(6) 9 normally does not
become operative prior to 30 days after
the date of the filing. However, pursuant
to Rule 19b4(f)(6)(iii),10 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. NYSE Arca
believes that because the proposed rule
change proposes to clarify NYSE Arca
Equities Rule 7.31(x), the public will
benefit from immediate implementation
of the rule due to the additional
transparency to the rule. NYSE Arca
also believes that adding clarity to its
rules before the next early scheduled
close, November 23, 2012, could reduce
any potential confusion regarding how
NYSE Arca treats the routing of PO
Orders designated as MOC or LOC
orders on that day. The Commission
believes that adding clarity to NYSE
Arca’s rules before the next early
scheduled close on November 23, 2012
could reduce potential confusion.
Therefore, the Commission believes that
waiver of the operative delay is
consistent with investor protection and
the public interest. As a result, the
Commission is hereby waiving the 30day operative delay.11
At any time within 60 days of the
filing of such 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
9 17
CFR 240.19b–4(f)(6).
CFR 240.19b–4(f)(6)(iii).
11 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).
10 17
E:\FR\FM\21NON1.SGM
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Federal Register / Vol. 77, No. 225 / Wednesday, November 21, 2012 / Notices
Number SR–NYSEARCA–2012–125 on
the subject line.
SECURITIES AND EXCHANGE
COMMISSION
Paper Comments
[Release No. 34–68241; File No. SR–CBOE–
2012–107]
• 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–NYSE–2012–125. 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 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 offices 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–NYSE–
2012–125, and should be submitted on
or before December 12, 2012.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Kevin M. O’Neill,
Deputy Secretary.
[FR Doc. 2012–28259 Filed 11–20–12; 8:45 am]
November 15, 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 November
2, 2012, Chicago Board Options
Exchange, Incorporated (the ‘‘Exchange’’
or ‘‘CBOE’’) 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
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 its
Fees Schedule. 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.
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 the
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8011–01–P
srobinson on DSK4SPTVN1PROD with
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change To Amend the Fees
Schedule
1. Purpose
On April 5, 2007, CBOE established
an Order Router Subsidy Program
(‘‘ORS Program’’ or ‘‘Program’’) in
1 15
12 17
CFR 200.30–3(a)(12).
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16:56 Nov 20, 2012
2 17
Jkt 229001
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b-4.
Frm 00115
Fmt 4703
Sfmt 4703
69903
which CBOE may enter into subsidy
arrangements with CBOE Trading
Permit Holders (each, a ‘‘Participating
TPH’’) that provide certain order routing
functionalities to other CBOE TPHs and/
or use such functionalities themselves.3
The Exchange later extended this
program to enable CBOE to establish
such subsidy arrangements with brokerdealers that are not CBOE TPHs (each a
‘‘Participating Non-CBOE TPH’’) and to
permit Participating TPHs and NonCBOE TPH’s [sic] to receive subsidy
payments for providing order routing
functionality to broker-dealers who are
not CBOE TPHs.4 (The term
‘‘Participant’’ as used in this filing refers
to either a Participating TPH or a
Participating Non-CBOE TPH). To
qualify for the subsidy arrangement, a
Participant’s order routing functionality
has to: (i) Enable the electronic routing
of orders to all of the U.S. options
exchanges, including CBOE; (ii) provide
current consolidated market data from
the U.S. options exchanges; and (iii) be
capable of interfacing with CBOE’s API
to access current CBOE trade engine
functionality. The routing system also
needs to cause CBOE to be the default
destination exchange for individually
executed marketable orders if CBOE is
at the national best bid or offer
(‘‘NBBO’’), regardless of size or time, but
allow any user to manually override
CBOE as the default destination on an
order-by-order basis. The order routing
functionality is required to incorporate
a function allowing orders at a specified
price to be sent to multiple exchanges
with a single click (a ‘‘sweep function’’)
and the sweep function would need to
be configured to cause an order to be
sent to CBOE for up to the full size
quoted by CBOE if CBOE is at the
NBBO. Any CBOE TPH or broker-dealer
that is not a CBOE TPH is permitted to
avail itself of this arrangement, provided
that its order routing functionality
incorporates the features described
above and satisfies CBOE that it appears
to be robust and reliable. The
Participant is solely responsible for
implementing and operating its system.
Participants will receive a payment
from CBOE for every executed contract
for orders routed to CBOE through that
participating CBOE TPH or Non-CBOE
TPH’s system to subsidize their costs
3 See Securities Exchange Act Release No. 55629
(April 13, 2007) 72 FR 19992
(April 20, 2007) (SR–CBOE–2007–34).
Additionally, the description of the current program
was clarified in SR–CBOE–2008–27. See Securities
Exchange Act Release No. 57498 (March 14, 2008),
73 FR 15018 (March 20, 2008) (SR–CBOE–2008–27).
4 See Securities Exchange Act Release No. 63631
(January 3, 2011) 76 FR 1203 (January 7, 2011) (SR–
CBOE–2010–117).
E:\FR\FM\21NON1.SGM
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]]>Agencies
[Federal Register Volume 77, Number 225 (Wednesday, November 21, 2012)]
[Notices]
[Pages 69901-69903]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-28259]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-68239; File No. SR-NYSEARCA-2012-125]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca
Equities Rule 7.31(x) To Clarify That When There Is an Early Scheduled
Close, the 3:45 p.m. ET Time Specified in the Rule Is Adjusted to 15
Minutes Before the Early Scheduled Close
November 15, 2012
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on November 6, 2012, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') 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 prepared by the self-regulatory
organization. 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\ 15 U.S.C. 78a.
\3\ 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 NYSE Arca Equities Rule 7.31(x) to
clarify that when there is an early scheduled close, the 3:45 p.m. ET
time specified in the rule is adjusted to 15 minutes before the early
scheduled close. The text of the proposed rule change is available on
the Exchange's Web site at www.nyse.com, at the principal office of the
Exchange, 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 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.
[[Page 69902]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend NYSE Arca Equities Rule 7.31(x) to
clarify that when there is an early scheduled close, the 3:45 p.m. ET
time specified in the rule is adjusted to 15 minutes before the early
scheduled close.
NYSE Arca Equities Rule 7.31(x) defines the Exchange's Primary Only
Order (``PO Order''), which is a market or limit order to be routed to
the primary market. The rule currently provides that PO Orders routed
to the New York Stock Exchange LLC (``NYSE'') or NYSE MKT LLC (``NYSE
MKT'') that are designated as Market on Close (``MOC'') or Limit on
Close (``LOC'') may not be electronically cancelled or reduced in size
after 3:45 p.m. ET and that any electronic submissions after 3:45 p.m.
ET will be automatically rejected.
The 3:45 p.m. ET time specified in NYSE Arca Equities Rule 7.31(x)
is based on NYSE Rule 123C and NYSE MKT Rule 123C--Equities
requirements governing the entry and cancellation of MOC and LOC Orders
after 3:45 p.m. ET. In the case of an early scheduled close, NYSE and
NYSE MKT use a time based on 15 minutes before the early scheduled
close instead of the 3:45 p.m. time specified in the rule.\4\
---------------------------------------------------------------------------
\4\ The Exchange notes that the NYSE and NYSE MKT have filed
rule proposals to amend their respective rules to clarify that when
the scheduled close of trading is before 4:00 p.m., the times
specified in NYSE Rule 123C and NYSE MKT Rule 123C--Equities shall
be adjusted based on the early closing time, and specifically, that
references to 3:45 p.m. shall mean 15 minutes before the early
scheduled close. See SR-NYSE-2012-62 and SR-NYSEMKT-2012-63.
---------------------------------------------------------------------------
The Exchange proposes to clarify NYSE Arca Equities Rule 7.31(x) to
similarly provide that in the case of an early scheduled close, the
3:45 p.m. ET time would instead be 15 minutes before the early
scheduled close. In addition, because the rules of NYSE MKT regarding
the designation ``DNS'' are the same as the rules of the NYSE, the
Exchange proposes to further clarify the rule to add references to NYSE
MKT in addition to the existing references to NYSE when discussing
routing PO Orders to the NYSE.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) \5\ of the
Securities Exchange Act of 1934 (the ``Act''), in general, and furthers
the objectives of Section 6(b)(5),\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, and it is not designed to
permit unfair discrimination among customers, brokers, or dealers. In
particular, the Exchange believes that the proposed rule change to
clarify that the 3:45 p.m. ET time specified in NYSE Arca Equities Rule
7.31(x) is adjusted in the case of an early scheduled close removes
impediments to and perfects the mechanism of a free and open market and
national market system because it provides transparency in Exchange
rules of how times are adjusted in NYSE Arca Equities Rule 7.31(x) in
the case of an early scheduled close.
---------------------------------------------------------------------------
\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 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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \7\ and Rule 19b-4(f)(6) thereunder.\8\
Because the proposed rule change does not: (i) Significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, or such shorter time as
the Commission may designate, if 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 and Rule 19b-
4(f)(6)(iii) thereunder.
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\7\ 15 U.S.C. 78s(b)(3)(A)(iii).
\8\ 17 CFR 240.19b-4(f)(6).
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A proposed rule change filed under Rule 19b-4(f)(6) \9\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\10\ 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. NYSE Arca believes that
because the proposed rule change proposes to clarify NYSE Arca Equities
Rule 7.31(x), the public will benefit from immediate implementation of
the rule due to the additional transparency to the rule. NYSE Arca also
believes that adding clarity to its rules before the next early
scheduled close, November 23, 2012, could reduce any potential
confusion regarding how NYSE Arca treats the routing of PO Orders
designated as MOC or LOC orders on that day. The Commission believes
that adding clarity to NYSE Arca's rules before the next early
scheduled close on November 23, 2012 could reduce potential confusion.
Therefore, the Commission believes that waiver of the operative delay
is consistent with investor protection and the public interest. As a
result, the Commission is hereby waiving the 30-day operative
delay.\11\
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\9\ 17 CFR 240.19b-4(f)(6).
\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ 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).
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At any time within 60 days of the filing of such 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 rule-comments@sec.gov. Please include
File
[[Page 69903]]
Number SR-NYSEARCA-2012-125 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-NYSE-2012-125. 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 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 offices 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-NYSE-2012-125, and should be submitted on or before
December 12, 2012.
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\12\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-28259 Filed 11-20-12; 8:45 am]
BILLING CODE 8011-01-P
