6772 Federal Register / Vol. 75, No. 27 / Wednesday, February 10, 2010 / Notices 

16 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Penny Pilot was extended and expanded on 

November 2, 2009, adding 75 classes to the Pilot on 

that date. See Exchange Act Release No. 61106 

(December 3, 2009) 74 FR–65193 (December 9, 

2009). 

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

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

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

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 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–Phlx–2010–10 and should 

be submitted on or before March 3, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–2866 Filed 2–9–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61479; File No. SR– 

NYSEAmex–2010–08] 

Self-Regulatory Organizations; NYSE 

Amex LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending Rule 960NY 

Trading Differentials 

February 3, 2010. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on January 

29, 2010, NYSE Amex LLC (‘‘NYSE 

Amex’’ or 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 self-regulatory 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 its 

option trading rules to designate SPY 

(SPDR S&P 500 ETF Trust) and IWM 

(iShares Russell 2000 Index Fund) as 

eligible to quote and trade all options 

contracts in one cent increments 

effective February 1, 2010. The text of 

the proposed rule change is attached as 

Exhibit 5 to the 19b–4 form. A copy of 

this filing is available on the Exchange’s 

Web site at http://www.nyse.com, at the 

Exchange’s principal office, at the 

Commission’s Public Reference Room, 

and on the Commission’s Web site at 

http://www.sec.gov. 

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 these statements may be examined at 

the places specified in Item IV below. 

The self-regulatory organization 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 

1. Purpose 

The Exchange proposes to designate 

two Penny Pilot Program 3 issues as 

eligible to quote and trade all options 

contracts in one cent increments, 

regardless of premium value. 

Specifically, the Exchange proposes to 

so designate SPY (SPDR S&P 500 ETF 

Trust) and IWM (iShares Russell 2000 

Index Fund). In selecting these issues, 

the Exchange considered, among other 

things, that these symbols are (a) among 

the most actively traded issues 

nationally, with a wide array of investor 

interest, (b) have more series trading at 

a premium between $3 and $10, and (c) 

are trading at prices that are neither 

extremely low nor high, but are 

generally trading between $15—$50. 

Furthermore, the Exchange proposes 

to designate SPY and IWM as eligible to 

quote and trade all options contracts in 

one cent increments as of February 1, 

2010. This date corresponds with the 

second phase-in date for additional 

classes in the pilot. The Exchange 

believes that issues that meet these 

criteria benefit the most from the ability 

to quote and trade all options in penny 

increments. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) 4 of the Securities Exchange Act of 

1934 (the ‘‘Act’’), in general, and furthers 

the objectives of Section 6(b)(5) 5 in 

particular in that it is designed to 

promote just and equitable principles of 

trade, to prevent fraudulent and 

manipulative acts, to remove 

impediments to and to perfect the 

mechanism for a free and open market 

and a national market system and, in 

general, by allowing all SPY and IWM 

option series to quote in penny 

intervals. 

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 

Because the foregoing 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 6 and Rule 19b–4(f)(6)(iii) 

thereunder. 

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 


sroberts on DSKD5P82C1PROD with NOTICES
Federal Register / Vol. 75, No. 27 / Wednesday, February 10, 2010 / Notices 6773 

7 17 CFR 240.19b–4(f)(6)(iii). In addition, Rule 

19b–4(f)(6)(iii) requires the self-regulatory 

organization to give the Commission notice of its 

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. 

NYSE Amex has satisfied this requirement. 8 17 CFR 240.19b–4(f)(6)(iii). 

9See Securities Exchange Act Release No. 61061 

(November 24, 2009), 74 FR 62857 (December 1, 

2009) (granting partial approval of NYSEArca– 

2009–44). 10For purposes only of waiving the operative 

delay for this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release Nos. 61223 

(December 22, 2009), 74 FR 69161; 61222 

(December 22, 2009), 74 FR 69182; and 61228 

(December 22, 2009), 74 FR 69180. 

4 15 U.S.C. 78s(b)(1). 

5 17 CFR 240.19b–4. 

become operative for 30 days after the 

date of filing.7 However, Rule 19b– 

4(f)(6)(iii) permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange requested that the 

Commission waive the 30-day operative 

delay, as specified in Rule 19b– 

4(f)(6)(iii),8 which would make the rule 

change effective and operative upon 

filing. 

The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because the proposal is based on a 

recent Commission-approved proposal 

submitted by another options exchange 9

and therefore does not raise any novel 

regulatory issues. Further, waiving the 

operative delay will allow the Exchange 

to commence quoting all series of IWM 

and SPY in increments of $0.01 effective 

February 1, 2010, contemporaneously 

with other options exchanges. 

Accordingly, the Commission 

designates the proposed rule change as 

operative upon filing with the 

Commission.10

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

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 (http://www.sec.gov/ 

rules/sro.shtml); or 

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

Number SR–NYSEAmex–2010–08 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–NYSEAmex–2010–08. 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, 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 NYSE’s principal office 

and on its Web site at http:// 

www.nyse.com. 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– 

NYSEAmex–2010–08 and should be 

submitted on or before March 3, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–2863 Filed 2–9–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61483; File Nos. SR– 

CBOE–2010–007; SR–ISE–2009–106; SR– 

NYSEAmex–2009–86; and SR–NYSEArca– 

2009–110] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated, International Securities 

Exchange, LLC, NYSE Amex LLC, and 

NYSE Arca, Inc.; Order Granting 

Approval of Proposed Rule Changes 

and Notice of Filing and Order 

Granting Accelerated Approval of a 

Proposed Rule Change Relating to 

Listing and Trading Options on the 

ETFS Gold Trust and the ETFS Silver 

Trust 

February 3, 2010. 

Three options exchanges filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) proposed 

rule changes pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’) 1 and Rule 19b–4 2

thereunder to list and trade options on 

shares of the ETFS Gold Trust and the 

ETFS Silver Trust (collectively ‘‘ETFS 

Options’’). Specifically, NYSE Amex 

LLC (‘‘NYSE Amex’’) and NYSE Arca, 

Inc. (‘‘NYSE Arca’’) both submitted their 

proposals on December 4, 2009 and the 

International Securities Exchange, LLC 

(‘‘ISE’’) submitted its proposal on 

December 10, 2009. Each proposed rule 

change was published for comment in 

the Federal Register on December 30, 

2009 for a 21-day comment period.3 No 

comments were received on the 

proposed rule changes. This order 

approves the proposed rule changes. 

In addition, on January 27, 2010, the 

Chicago Board Options Exchange, 

Incorporated (‘‘CBOE’’ or the 

‘‘Exchange’’) filed with the Commission 

the proposed rule change as described 

in Items I and II below, which items 

have been prepared by the CBOE. The 

proposal submitted by the CBOE is 

substantively identical to the proposals 

of NYSE Amex, NYSE Arca, and ISE. 

Pursuant to Section 19(b)(1) of the Act 4

and Rule 19b–4 5 thereunder, the 

Commission is publishing this notice to 

solicit comments on the CBOE proposed 

rule change from interested persons and 


sroberts on DSKD5P82C1PROD with NOTICES