70060 Federal Register / Vol. 75, No. 220 / Tuesday, November 16, 2010 / Notices 

10On October 1, 2010, UAL Corporation 

announced that as a result of a merger between UAL 

Corporation and Continental Airlines, Inc. that it 

would change its name and underlying symbol. 

UAL Corporation is now known as United 

Continental Holding, Inc. 

11 15 U.S.C. 78f(b)(4). 

12See supra note 8. 

13 15 U.S.C. 78s(b)(3)(A)(ii). 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Securities Exchange Act Release No. 61820 

(Apr. 1, 2010), 75 FR 17805. 

4The exact language of the proposal can be seen 

at http://www.theocc.com/component/docs/legal/ 

rules_and_bylaws/sr_OCC_10_05.pdf. 

‘‘UAL’’ to reflect a recent corporate 

action.10

The Exchange has designated this 

proposal to be operative on November 1, 

2010. 

2. Statutory Basis 

The basis under the Exchange Act for 

this proposed rule change is the 

requirement under Section 6(b)(4) 11

that an exchange have an equitable 

allocation of reasonable dues, fees and 

other charges among its members and 

other persons using its facilities. The 

impact of the proposal upon the net fees 

paid by a particular market participant 

will depend on a number of variables, 

most important of which will be its 

propensity to add or remove liquidity in 

options overlying the Select Symbols. 

The Exchange operates in a highly 

competitive market in which market 

participants can readily direct order 

flow to another exchange if they deem 

fee levels at a particular exchange to be 

excessive. The Exchange believes that 

the proposed fees are within the range 

assessed by other exchanges 12 and 

therefore continue to be reasonable and 

equitably allocated to those members 

that opt to direct orders to the Exchange 

rather than to a competing exchange. 

The Exchange’s maker/taker fees, which 

are currently applicable to each market 

participant, will continue to apply to 

the Select Symbols. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

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 has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

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.13 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. 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–ISE–2010–106 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–ISE–2010–106. 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 website 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–ISE–2010–106, and should 

be submitted on or before December 7, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28747 Filed 11–15–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63278; File No. SR–OCC– 

2010–05] 

Self-Regulatory Organizations; The 

Options Clearing Corporation; Order 

Granting Approval of a Proposed Rule 

Change Relating to Cash-Settled 

Foreign Currency Options With OneCent Exercise Prices 

November 8, 2010. 

I. Introduction 

On March 16, 2010, The Options 

Clearing Corporation (‘‘OCC’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) a proposed 

rule change pursuant to Section 19(b)(1) 

of the Securities Exchange Act of 1934 

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

clarify that cash-settled foreign currency 

options traded on national securities 

exchanges will be treated and cleared as 

securities options notwithstanding that 

they may have a nominal exercise price 

such as one cent. The proposed rule 

change was published for comment in 

the Federal Register on April 7, 2010.3

No comment letters were received on 

the proposal. This order approves the 

proposal. 

II. Description of the Proposal 

OCC will add a sentence to the 

Introduction to Article XXII of its ByLaws to make clear that cash-settled 

foreign currency options traded on 

national securities exchanges will be 

treated and cleared as securities options 

notwithstanding that they may have a 

nominal exercise price such as one 

cent.4

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Federal Register / Vol. 75, No. 220 / Tuesday, November 16, 2010 / Notices 70061 

5 15 U.S.C. 78q–1(b)(3)(F). 

6 15 U.S.C. 78q–1. 

7 15 U.S.C. 78s(b)(2). 

8 In approving the proposed rule change, the 

Commission considered the proposal’s impact on 

efficiency, competition and capital formation. 

15 U.S.C. 78c(f). 

9 17 CFR 200.30–3(a)(12). 

In its capacity as a ‘‘derivatives 

clearing organization’’ registered as such 

with the Commodities Futures Trading 

Commission, OCC also filed this 

proposed rule change with the CFTC for 

prior approval pursuant to provisions of 

the Commodity Exchange Act (‘‘CEA’’) 

in order to foreclose any potential 

argument that the clearing by OCC of 

such options as securities options 

constitutes a violation of the CEA. The 

products involved here are essentially 

the same as cash-settled foreign 

currency options that OCC currently 

clears except for the low strike price. 

III. Discussion 

Section 17A(b)(3)(F) of the Act 5

requires, among other things, that the 

rules of a clearing agency be designed to 

promote the prompt and accurate 

clearance and settlement of securities 

transactions and derivative transactions. 

OCC’s clarification of its By-Laws with 

respect to cash-settled foreign currency 

options with nominal exercise prices 

should help reduce the likelihood of 

confusion as to OCC’s treatment of such 

products, and accordingly should help 

to promote the prompt and accurate 

clearance and settlement of securities 

transactions. 

IV. Conclusion 

On the basis of the foregoing, the 

Commission finds that the proposed 

rule change is consistent with the 

requirements of the Act and in 

particular Section 17A of the Act 6 and 

the rules and regulations thereunder. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,7 that the 

proposed rule change (File No. SR– 

OCC–2010–05) be and hereby is 

approved.8

For the Commission by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–28746 Filed 11–15–10; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Dealer Floor Plan Pilot Program 

Meeting 

AGENCY: U.S. Small Business 

Administration (SBA). 

ACTION: Notice of open meeting. 

SUMMARY: The SBA is issuing this notice 

to announce the location, date, time, 

and agenda for a meeting regarding the 

Dealer Floor Plan Pilot Program 

established in the Small Business Jobs 

Act of 2010. The meeting will be open 

to the public. 

DATES: The Dealer Floor Plan Pilot 

Program meeting will be held on 

November 16, 2010 from approximately 

9 a.m. to 12 p.m. Eastern Standard 

Time. 

ADDRESSES: The meeting will be held in 

the Eisenhower Conference Room at 

SBA Headquarters located at 409 Third 

Street, SW., Second Floor, Washington, 

DC 20416. 

SUPPLEMENTARY INFORMATION: The SBA 

is holding an open meeting to discuss 

the Dealer Floor Plan Pilot Program 

established in the Small Business Jobs 

Act of 2010 (Pub. L. 111–240). The 

purpose of the meeting is to obtain 

feedback from the public on their 

experiences with floor plan financing 

programs and SBA’s previous Dealer 

Floor Plan Pilot Initiative that expired 

on September 30, 2010. In particular, 

SBA would like to obtain comments 

from the public relating to their 

experiences with the following issues: 

Advance rates, curtailment policies, 

collateral monitoring procedures, and 

fees typically charged to administer this 

type of financing. 

FOR FURTHER INFORMATION CONTACT: The 

Dealer Floor Plan Pilot Program meeting 

is open to the public; however, seating 

is limited so advance notice of 

attendance is requested. Written 

comments may be submitted at the 

meeting or provided to SBA in advance 

of the meeting. To register, submit 

written comments, or for further 

information, please contact Patrick 

Kelley, Senior Advisor to the Associate 

Administrator, Office of Capital Access, 

U.S. Small Business Administration, 

phone (202) 205–0067, fax (202) 292– 

3844, or e-mail Patrick.kelley@sba.gov. 

If you are unable to attend the meeting 

in person, you may participate by 

telephone by calling (866) 740–1260 and 

using access code 3710104. 

Additionally, if you need 

accommodations because of a disability 

or require additional information, please 

contact Patrick Kelley, Senior Advisor 

to the Associate Administrator, Office of 

Capital Access, by November 15, 2010 at 

phone (202) 205–0067, fax (202) 292– 

3844, or e-mail Patrick.kelley@sba.gov. 

Grady B. Hedgespeth, 

Director, Office of Financial Assistance. 

[FR Doc. 2010–28715 Filed 11–15–10; 8:45 am] 

BILLING CODE 8025–01–P 

DEPARTMENT OF STATE 

[Public Notice: 7225] 

Bureau of Educational and Cultural 

Affairs (ECA) Request for Grant 

Proposals: The Future Leaders 

Exchange (FLEX) Program: Host 

Family and School Placement and 

Monitoring 

Announcement Type: New Grant. 

Funding Opportunity Number: ECA/ 

PE/C/PY–11–04. 

Catalog of Federal Domestic 

Assistance Number: 19.415. 

Application Deadline: January 5, 

2011. 

Executive Summary: The Future 

Leaders Exchange (FLEX) program seeks 

to promote mutual understanding 

between the United States and the 

countries of Eurasia by providing 

secondary school students from the 

region the opportunity to live in 

American society for an academic year. 

In turn, these students will expose U.S. 

citizens to the culture, traditions, and 

lifestyles of people in Eurasia. 

Organizations are invited to submit 

proposals to identify host schools; vet, 

select, and monitor host families; and 

place and monitor a portion of the 

students participating in the FLEX 

program during the 2011–12 academic 

year. Pending the availability of funds, 

an FY 2011 grant will provide the 

monies required to recruit and screen 

host families; secure school placements; 

conduct student and host family 

orientations; provide cultural and 

educational enrichment activities; 

handle all counseling and programmatic 

issues; and evaluate program 

implementation. 

I. Funding Opportunity Description 

Authority 

Overall grant making authority for 

this program is contained in the Mutual 

Educational and Cultural Exchange Act 

of 1961, Public Law 87–256, as 

amended, also known as the FulbrightHays Act. The purpose of the Act is ‘‘to 

enable the Government of the United 

States to increase mutual understanding 

between the people of the United States 

and the people of other countries * * *; 

to strengthen the ties which unite us 

with other nations by demonstrating the 

educational and cultural interests, 

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