Federal Register / Vol. 76, No. 41 / Wednesday, March 2, 2011 / Notices 11551 

6 15 U.S.C. 78s(b)(3)(A)(ii). 

7 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3Equity options transaction charges for 

Specialists, Registered Options Traders, Streaming 

Quote Traders, Remote Streaming Quote Traders, 

Firms and Broker-Dealers are capped at $1,000 for 

dividend, merger and short stock interest strategies 

executed on the same trading day in the same 

options class when such members are trading in 

their own proprietary accounts. Equity option 

transaction charges for dividend, merger and short 

stock interest strategies combined are capped at 

$25,000 per member organization per month when 

such members are trading in their own proprietary 

accounts. 

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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act.6 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. If the Commission 

takes such action, the Commission shall 

institute proceedings to determine 

whether the proposed rule should be 

approved or disapproved. 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–Phlx–2011–24 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–Phlx–2011–24. This file 

number should be included on the 

subject line if e-mail 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 (http://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 a.m. and 

3 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–Phlx–2011–24, and should 

be submitted on or before March 23, 

2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Cathy H. Ahn, 

Deputy Secretary. 

[FR Doc. 2011–4689 Filed 3–1–11; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63957; File No. SR–Phlx– 

2011–20] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NASDAQ 

OMX PHLX LLC Relating to Dividend 

and Merger Strategies 

February 24, 2011. 

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 February 

14, 2011, NASDAQ OMX PHLX LLC 

(‘‘Phlx’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘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 

Fee Schedule to clarify the definitions 

of dividend and merger strategies in 

Section II of its Fee Schedule titled, 

‘‘Equity Options Fees.’’ 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://nasdaqtrader.com/ 

micro.aspx?id=PHLXfilings, 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 

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 the proposed rule 

change is to clarify the definitions of 

dividend and merger strategies in 

Section II of the Fee Schedule titled 

‘‘Equity Options Fees,’’ so that the 

applicability of equity option 

transaction charges and caps 3 are clear 

to members. 

The Exchange provides a definition of 

a dividend strategy in Section II of its 

Fee Schedule. The Exchange defines a 

dividend strategy, along with other 

strategies, to provide members with 

information necessary to calculate the 

combined fee cap on equity option 

transaction charges for dividend, merger 

and short stock interest strategies. The 

Exchange defines a dividend strategy as 

follows ‘‘* * *transactions done to 

achieve a dividend arbitrage involving 

the purchase, sale and exercise of inthe-money options of the same class, 

executed prior to the date on which the 

underlying stock goes ex-dividend.’’ 


emcdonald on DSK2BSOYB1PROD with NOTICES
11552 Federal Register / Vol. 76, No. 41 / Wednesday, March 2, 2011 / Notices 

4 15 U.S.C. 78f(b). 

5 15 U.S.C. 78f(b)(4). 

6 15 U.S.C. 78s(b)(3)(A)(ii). 

The Exchange proposes to amend this 

dividend strategy definition to provide 

clarity with respect to the text ‘‘prior to 

the date.’’ The Exchange proposes to 

amend the definition to state, 

‘‘transactions done to achieve a dividend 

arbitrage involving the purchase, sale 

and exercise of in-the-money options of 

the same class, executed immediately 

prior to the date on which the 

underlying stock goes ex-dividend.’’ The 

Exchange believes that this language 

would clarify the timing of such a 

dividend strategy. The Exchange is 

proposing to make clear that such 

transactions must occur immediately 

prior to the date on which the 

underlying stock goes ex-dividend to 

meet the definition of a dividend 

strategy. The Exchange would interpret 

the proposed term ‘‘immediately’’ to 

mean the first business day prior to the 

date on which the underlying stock goes 

ex-dividend. 

Similarly, the Exchange provides a 

definition of a merger strategy in 

Section II of its Fee Schedule. The 

Exchange defines a merger strategy, 

along with other strategies, to provide 

members with information necessary to 

calculate the combined fee cap on 

equity option transaction charges for 

dividend, merger and short stock 

interest strategies. The Exchange defines 

a merger strategy as follows ‘‘* * *as 

transactions done to achieve a merger 

arbitrage involving the purchase, sale 

and exercise of options of the same class 

and expiration date, executed prior to 

the date on which shareholders of 

record are required to elect their 

respective form of consideration, i.e., 

cash or stock.’’ 

The Exchange proposes to amend this 

merger strategy definition to provide 

clarity with respect to the text ‘‘prior to 

the date.’’ The Exchange proposes to 

amend the definition to state, 

‘‘transactions done to achieve a merger 

arbitrage involving the purchase, sale 

and exercise of options of the same class 

and expiration date, executed 

immediately prior to the date on which 

shareholders of record are required to 

elect their respective form of 

consideration, i.e., cash or stock.’’ The 

Exchange believes that this language 

would clarify the timing of such a 

merger strategy. The Exchange is 

proposing to make clear that such 

transactions must occur immediately 

prior to the date on which the 

shareholders of record are required to 

elect their respective form of 

consideration to meet the definition of 

a merger strategy. The Exchange would 

interpret the proposed term 

‘‘immediately’’ to mean the first business 

day prior to the date on which 

shareholders of record are required to 

elect their respective form of 

consideration. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its Fee Schedule is 

consistent with Section 6(b) of the Act 4

in general, and furthers the objectives of 

Section 6(b)(4) of the Act 5 in particular, 

in that it is an equitable allocation of 

reasonable fees and other charges among 

Exchange members and other persons 

using its facilities. 

The Exchange believes that it is 

reasonable to amend the definitions of 

dividend and merger strategies to 

provide members with a definition that 

is clear and unambiguous. In addition, 

the Exchange believes that the amended 

definitions would provide members 

clear guidance on the applicability of 

the equity option transaction charges 

and the available caps. 

The Exchange believes that the 

proposed amendments are equitable 

because the proposed new definitions 

would apply equally to all members 

transacting dividend or merger 

strategies. The Exchange would 

uniformly apply the definitions to all 

members who transacted such dividend 

and/or merger strategies when assessing 

equity option transaction charges and 

applying caps. 

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. 

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 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(ii) of the Act.6 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. If the Commission 

takes such action, the Commission shall 

institute proceedings to determine 

whether the proposed rule should be 

approved or disapproved. 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–Phlx–2011–20 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–Phlx–2011–20. This file 

number should be included on the 

subject line if e-mail 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 

(http://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 a.m. and 

3 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–Phlx–2011–20, and should 


emcdonald on DSK2BSOYB1PROD with NOTICES
Federal Register / Vol. 76, No. 41 / Wednesday, March 2, 2011 / Notices 11553 

7 17 CFR 200.30–3(a)(12). 

be submitted on or before March 23, 

2011. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Cathy H. Ahn, 

Deputy Secretary. 

[FR Doc. 2011–4688 Filed 3–1–11; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #12479 and #12480] 

New York Disaster #NY–00102 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a Notice of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of New York (FEMA–1957– 

DR), dated 02/18/2011. 

Incident: Severe Winter Storm and 

Snowstorm. 

Incident Period: 12/26/2010 through 

12/27/2010. 

Effective Date: 02/18/2011. 

Physical Loan Application Deadline 

Date: 04/19/2011. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 11/18/2011. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: M. 

Mitravich, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street, SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

President’s major disaster declaration on 

02/18/2011, Private Non-Profit 

organizations that provide essential 

services of governmental nature may file 

disaster loan applications at the address 

listed above or other locally announced 

locations. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: Nassau, Suffolk. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Non-Profit Organizations With 

Credit Available Elsewhere ....... 3.250 

Non-Profit Organizations Without 

Credit Available Elsewhere ....... 3.000 

Percent 

For Economic Injury: 

Non-Profit Organizations Without 

Credit Available Elsewhere ....... 3.000 

The number assigned to this disaster 

for physical damage is 12479B and for 

economic injury is 12480B. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

James E. Rivera, 

Associate Administrator for Disaster 

Assistance. 

[FR Doc. 2011–4561 Filed 3–1–11; 8:45 am] 

BILLING CODE 8025–01–P 

OFFICE OF THE UNITED STATES 

TRADE REPRESENTATIVE 

[Docket No. WTO/DS420] 

WTO Dispute Settlement Proceeding 

Regarding United States—Anti 

Dumping Measures on CorrosionResistant Carbon Steel Flat Products 

From Korea 

AGENCY: Office of the United States 

Trade Representative. 

ACTION: Notice; request for comments. 

SUMMARY: The Office of the United 

States Trade Representative (‘‘USTR’’) is 

providing notice that on January 31, 

2011, the Republic of Korea requested 

consultations with the United States 

under the Marrakesh Agreement 

Establishing the World Trade 

Organization (‘‘WTO Agreement’’) 

concerning antidumping measures 

regarding corrosion-resistant carbon 

steel flat products from Korea. That 

request may be found at http:// 

www.wto.org contained in a document 

designated as WT/DS420/1. USTR 

invites written comments from the 

public concerning the issues raised in 

this dispute. 

DATES: Although USTR will accept any 

comments received during the course of 

the dispute settlement proceedings, 

comments should be submitted on or 

before April 1, 2011, to be assured of 

timely consideration by USTR. 

ADDRESSES: Public comments should be 

submitted electronically to http:// 

www.regulations.gov, docket number 

USTR–2011–0001. If you are unable to 

provide submissions by http:// 

www.regulations.gov, please contact 

Sandy McKinzy at (202) 395–9483 to 

arrange for an alternative method of 

transmission. If (as explained below) the 

comment contains confidential 

information, then the comment should 

be submitted by fax only to Sandy 

McKinzy at (202) 395–3640. 

FOR FURTHER INFORMATION CONTACT: 

Leigh Bacon, Associate General 

Counsel, Office of the United States 

Trade Representative, 600 17th Street, 

NW., Washington, DC 20508, (202) 395– 

5859. 

SUPPLEMENTARY INFORMATION: USTR is 

providing notice that consultations have 

been requested pursuant to the WTO 

Understanding on Rules and Procedures 

Governing the Settlement of Disputes 

(‘‘DSU’’). If such consultations should 

fail to resolve the matter and a dispute 

settlement panel is established pursuant 

to the DSU, such panel, which would 

hold its meetings in Geneva, 

Switzerland, would be expected to issue 

a report on its findings and 

recommendations within nine months 

after it is established. 

Major Issues Raised by Korea 

On January 31, 2011, Korea requested 

consultations concerning antidumping 

measures regarding corrosion-resistant 

carbon steel flat products from Korea. 

Korea challenges what it describes as 

the ‘‘use of the practice of zeroing 

negative dumping margins in 

administrative reviews, sunset reviews, 

and liquidations of antidumping duties 

with and without reviews, concerning 

the case of corrosion-resistant carbon 

steel flat products from Korea,’’ as well 

as ‘‘the imposition of cash deposit 

requirements and the final assessment 

of antidumping duties pursuant thereto’’ 

and ‘‘the ongoing conduct reflected by 

the use of the zeroing methodology in 

successive proceedings in that case.’’ 

Korea also states that it would like to 

raise the following ‘‘matters’’: (1) The 

Tariff Act of 1930, in particular, sections 

731, 751, 752, 771(35)(A) and (B), and 

777A(c) and (d); (2) the Statement of 

Administrative Action that 

accompanied the Uruguay Round 

Agreements Act, H.R. Doc. No. 103–316, 

vol. I; (3) implementing regulations of 

the Department of Commerce, 19 CFR 

section 351, in particular, sections 

351.212(b) and (c), 351.218, and 

351.414; (4) the Import Administration 

Antidumping Manual (1997 edition), 

including the computer program(s) to 

which it refers; (5) the Department of 

Commerce Policy Bulletin 98.3, 

‘‘Policies Regarding the Conduct of Fiveyear (‘Sunset’) Reviews of Antidumping 

and Countervailing Duty Orders’’ 

(‘‘Sunset Policy Bulletin’’), 63 FR 18871 

(16 April 1998); (6) ‘‘the general 

procedures and methodology employed 

by the United States for determining 

dumping margins in administrative 

reviews, sunset reviews, and duty 

assessment determinations’’; and (7) ‘‘the 

general procedures and methodology 


emcdonald on DSK2BSOYB1PROD with NOTICES