Federal Register / Vol. 75, No. 228 / Monday, November 29, 2010 / Notices 73155 

9 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 No. 63026 

(October 1, 2010), 75 FR 62167 (‘‘Notice’’). 

4Credit Options include Credit Default Options 

and Credit Default Basket Options. Credit Default 

Options are cash-settled binary options that are 

automatically exercised upon the occurrence of 

specified credit events or expire worthless. See 

CBOE Rule 29.1(b); Securities Exchange Act Release 

No. 55871 (June 6, 2007), 72 FR 32372 (June 12, 

2007) (SR–CBOE–2006–84) (order approving 

CBOE’s proposed rules to list and trade Credit 

Default Options). Credit Default Basket Options are 

cash-settled binary options based on a basket of at 

least two reference entities. See CBOE Rule 29.1(h); 

Securities Exchange Act Release No. 56275 (August 

17, 2007), 72 FR 47097 (August 22, 2007) (SR– 

CBOE–2007–26) (order approving CBOE’s proposed 

rules to list and trade Credit Default Basket 

Options). 

5The Exchange has represented that it will not 

list more than one Credit Default Option contract 

with a cash settlement amount arrived at in 

different ways. See Notice at note 8 and 

accompanying text. 

6See CBOE Rules 29.2 and 29.2A. 7 In approving this proposed rule change, the 

Commission notes that it has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

8 15 U.S.C. 78f(b)(5). 

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 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 No. SR–BATS– 

2010–033 and should be submitted on 

or before December 20, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–29895 Filed 11–26–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63352; File No. SR–CBOE– 

2010–046] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Order Granting Approval 

of Proposed Rule Change To Amend 

Certain Rules Pertaining to Credit 

Options 

November 19, 2010. 

I. Introduction 

On September 20, 2010, the Chicago 

Board Options Exchange, Incorporated 

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

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

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

of 1934 (‘‘Act’’) 1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

amend its rules relating to Credit 

Options. The proposed rule change was 

published for comment in the Federal 

Register on October 7, 2010.3 The 

Commission received no comments on 

the proposal. This order approves the 

proposed rule change. 

II. Description of the Proposal 

The Exchange proposes to amend its 

rules governing Credit Options 4 to make 

three substantive changes. First, CBOE 

proposes to permit the Exchange to fix 

the exercise settlement value for Credit 

Default Options, on a class-by-class 

basis, at $1 or $100, or at a value 

between those two points. Currently, the 

exercise settlement value is fixed at 

$100. Since the cash settlement amount 

for Credit Default Options is the product 

of the exercise settlement value 

multiplied by a contract multiplier that 

may be fixed by the Exchange on a 

class-by-class basis within a range of 

1 to 1,000, this change will enable the 

Exchange to list a Credit Default Option 

contact with a cash settlement amount 

that could be arrived at in different 

ways.5 Second, the proposal would 

permit the Exchange to establish the 

minimum price variation (‘‘MPV’’) for all 

Credit Options, which is currently 

$0.05, on a class-by-class basis, at an 

increment no less than $0.01, which 

would permit more pricing points, such 

as when lower exercise settlement 

values are designated. Third, the 

proposal would give the Exchange 

authority to list Credit Options that 

contemplate only a single credit event. 

Currently, CBOE rules for Credit 

Options enumerate several potential 

credit events, the occurrence of any one 

of which could allow the Credit Option 

to be exercised. For example, a failureto-pay default will always be a 

designated credit event for each class, 

and the Exchange may, on a class-byclass basis, specify other events of 

default or a restructuring.6 The 

Exchange proposes to amend its rules to 

permit it to list Credit Options 

designating a single credit event, such 

as a failure-to-pay default, another event 

of default, or a restructuring. The 

Exchange also proposes to make a 

technical, non-substantive change to 

one of its rules governing Credit 

Options, Rule 29.3. 

III. Discussion and Commission’s 

Findings 

After careful consideration, the 

Commission finds that the proposed 

rule change is consistent with the 

requirements of the Act and the rules 

and regulations thereunder applicable to 

a national securities exchange.7 In 

particular, the Commission finds that 

the proposed rule change is consistent 

with the requirements of Section 6(b)(5) 

of the Act,8 which requires, among other 

things, that the Exchange’s rules be 

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 

regulating, clearing, settling, processing 

information with respect to, and 

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. 

The Commission believes that the 

proposal to authorize the Exchange to 

list Credit Options that contemplate 

only a single credit event is consistent 

with the Act. In addition, the 

Commission believes that the proposal 

to allow the Exchange flexibility to fix 

the exercise settlement value for Credit 

Default Options within a range of $1 to 

$100 is consistent with the Act. With 

this change, the Exchange could list a 

contract with a cash settlement value of 

$10,000 with a multiplier of 1,000 and 

an exercise settlement amount of $10, or 

with a multiplier of 100 and an exercise 

settlement amount of $100. There could 

be concerns if the Exchange were to 

seek to list Credit Default Options 

having the same cash settlement value 

but with different combinations of 

multiplier and cash settlement amount. 

mstockstill on DSKH9S0YB1PROD with NOTICES

73156 Federal Register / Vol. 75, No. 228 / Monday, November 29, 2010 / Notices 

9See supra note 5. 

10The Commission also notes that the CBOE 

currently has the flexibility to set the exercise 

settlement value for binary options listed on the 

Exchange on a class-by-class basis. See CBOE Rule 

22.1(e). See also Notice at note 9 and accompanying 

text. 

11See Notice. The Commission also notes that the 

Exchange has the discretion to establish the MPV 

on a class-by-class basis for binary options at an 

increment no less than $0.01. See CBOE Rule 

22.13(b). 

12 15 U.S.C. 78s(b)(2). 

13 17 CFR 200.30–3(a)(12). 

This could fragment the market and 

dilute the liquidity of economically 

identical products. The Exchange has 

represented, however, that it will not 

list more than one Credit Default Option 

contract with a cash settlement value 

that has been arrived at in multiple 

ways.9 The Commission’s approval of 

this aspect of the proposal incorporates 

that representation.10

Finally, the Commission believes that 

the proposal to use an MPV of as little 

as $0.01 for all Credit Options is 

consistent with the Act. With exercise 

settlement values as low as $1, the 

ability to set the MPV at $0.01 would 

make available 100 price points for 

quoting bids and offers in the range of 

$0 to $1, as opposed to only 20 price 

points under the current MPV of $0.05. 

The CBOE has represented that it has 

analyzed its capacity and believes that 

it and the Options Price Reporting 

Authority have the necessary systems 

capacity to handle the additional traffic 

associated with the ability to designate 

$0.01 as the MPV for Credit Options; 

and that the Exchange believes that the 

change will not lead to a proliferation of 

quotes and thus do not have multiple 

series with different strike prices, 

because Credit Options do not have 

strike prices.11

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,12 that the 

proposed rule change (SR–CBOE–2010– 

046), be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–29893 Filed 11–26–10; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Data Collection Available for Public 

Comments and Recommendations 

ACTION: Notice and request for 

comments. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995, this 

notice announces the Small Business 

Administration’s intentions to request 

approval on a new and/or currently 

approved information collection. 

DATES: Submit comments on or before 

January 28, 2011. 

ADDRESSES: Send all comments 

regarding whether this information 

collection is necessary for the proper 

performance of the function of the 

agency, whether the burden estimates 

are accurate, and if there are ways to 

minimize the estimated burden and 

enhance the quality of the collection, to 

Dean Koppel, Assistant Administrator, 

Office of Policy and Research, Small 

Business Administration, 409 3rd Street, 

6th Floor, Washington, DC 20416. 

FOR FURTHER INFORMATION CONTACT: 

Dean Koppel, Assistant Administrator, 

Office of Policy and Research, 202–205– 

7332, dean.koppel@sba.gov Curtis B. 

Rich, Management Analyst, 202–205– 

7030 curtis.rich@sba.gov. 

SUPPLEMENTARY INFORMATION: A small 

business determined to be non 

responsible for award of a specific 

prime Government contract by a 

Government contracting office has the 

right to appeal that decision through the 

Small Business Administration (SBA). 

The information contained on this form, 

as well as, other information developed 

by SBA, is used in the evaluation 

process. 

Title: ‘‘SBA Application for Certificate 

of Competency.’’ 

Description of Respondents: Prime 

Government Contractors. 

Form Number: 1531. 

Annual Responses: 275. 

Annual Burden: 2,200. 

Jacqueline White, 

Chief, Administrative Information Branch. 

[FR Doc. 2010–29946 Filed 11–26–10; 8:45 am] 

BILLING CODE 8025–01–P 

DEPARTMENT OF STATE 

[Public Notice: 4728] 

The Amended Designation of Lashkare-Tayyiba (LT, LeT), aka Lashkar-eToiba, aka Lashkar-i-Taiba, aka al 

Mansoorian, aka al Mansooreen, aka 

Army of the Pure, aka Army of the 

Righteous, aka Army of the Pure and 

Righteous as a Foreign Terrorist 

Organization pursuant to Section 

219(b) of the Immigration and 

Nationality Act 

Based upon a review of the 

administrative record assembled in this 

matter, and in consultation with the 

Attorney General and the Secretary of 

the Treasury, the Secretary of State has 

concluded that there is a sufficient 

factual basis to find that Lashkar-eTayyiba, also known under the aliases 

listed above, uses or has used additional 

aliases, namely, Falah-I–Insaniat 

Foundation, FiF, Falah-e-Insaniat 

Foundation, Falah-e-Insaniyat, Falah-iInsaniyat, Falah Insania, Welfare of 

Humanity, Humaniatarian Welfare 

Foundation, Human Welfare 

Foundation. 

Therefore, effective upon the date of 

publication in the Federal Register, the 

Secretary of State hereby amends the 

2003 redesignation of Lashkar-e-Tayyiba 

as a foreign terrorist organization, 

pursuant to § 219(b) of the INA (8 U.S.C. 

1189(b)), to include the following new 

aliases and other possible 

transliterations thereof: Falah-I–Insaniat 

Foundation, FiF, Falah-e-Insaniat 

Foundation, Falah-e-Insaniyat, Falah-iInsaniyat, Falah Insania, Welfare of 

Humanity, Humaniatarian Welfare 

Foundation, Human Welfare 

Foundation. 

Dated: September 28, 2010. 

Hillary Rodham Clinton, 

Secretary of State. 

[FR Doc. 2010–29807 Filed 11–26–10; 8:45 am] 

BILLING CODE 4710–10–P 

DEPARTMENT OF STATE 

[Public Notice 7249] 

Bureau of Western Hemisphere Affairs; 

Executive Order 11423, as Amended; 

Notice of Receipt of Application for a 

Presidential Permit To Renovate and 

Expand the San Ysidro Land Port of 

Entry on the U.S.-Mexico Border at San 

Diego, CA and Tijuana, Baja CA, 

Mexico 

AGENCY: Department of State. 

ACTION: Notice. 

SUMMARY: The Department of State 

hereby gives notice that, on November 

10, 2010, it received an application for 

a Presidential Permit to authorize the 

renovation and expansion of the San 

Ysidro border crossing facility on the 

U.S.-Mexico border at San Diego, 

California and Tijuana, Baja California, 

Mexico. The General Services 

Administration (GSA) filed this 

application and is acting as the project’s 

sponsor. The Department of State’s 

jurisdiction over this application is 

based upon Executive Order 11423 of 

August 16, 1968, as amended. As 

provided in E.O. 11423, the Department 

is circulating this application to relevant 

federal and state agencies for review and 

mstockstill on DSKH9S0YB1PROD with NOTICES