Federal Register / Vol. 75, No. 233 / Monday, December 6, 2010 / Notices 75715 

11 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 34– 

61106 (December 3, 2009), 74 FR 65193 (December 

9, 2009); Securities Exchange Act Release No. 34– 

61479 (February 3, 2010), 75 FR 6772 (February 10, 

2010). 

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

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A)(iii). 

8 17 CFR 240.19b–4(f)(6). 

you wish to make available publicly. All 

submissions should refer to File 

Number SR–CBOE–2010–102 and 

should be submitted on or before 

December 27, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–30428 Filed 12–3–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63393; File No. SR– 

NYSEAmex–2010–107] 

Self-Regulatory Organizations; NYSE 

Amex LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending Option 

Trading Rules in Order To Extend the 

Penny Pilot in Options Classes in 

Certain Issues Through December 31, 

2011 

November 30, 2010. 

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 

24, 2010, NYSE Amex LLC (the 

‘‘Exchange’’ or ‘‘NYSE Amex’’) 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 substantially 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 its 

option trading rules in order to extend 

the Penny Pilot in options classes in 

certain issues (‘‘Pilot Program’’) 

previously approved by the Securities 

and Exchange Commission 

(‘‘Commission’’) through December 31, 

2011. The text of the proposed rule 

change is available at the Exchange, 

http://www.nyse.com, 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 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. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange hereby proposes to 

extend the time period of the Pilot 

Program 4 which is currently scheduled 

to expire on December 31, 2010, through 

December 31, 2011, and to provide 

revised dates for adding replacement 

issues to the Pilot. The Exchange 

proposes that the semi-annual dates to 

replace issues that have been delisted be 

revised to the second trading day 

following January 1, 2011 and July 1, 

2011. The Exchange also wishes to 

clarify that the replacement issues will 

be selected based on trading activity for 

the six month period beginning June 1, 

2010 and ending November 30, 2010 for 

the January 2011 replacement, and the 

six month period beginning December 1, 

2010 and ending May 31, 2011 for the 

July 2011 replacements. This filing does 

not propose any substantive changes to 

the Pilot Program: all classes currently 

participating will remain the same and 

all minimum increments will remain 

unchanged. The Exchange believes the 

benefits to public customers and other 

market participants who will be able to 

express their true prices to buy and sell 

options have been demonstrated to 

outweigh the increase in quote traffic. 

The Exchange agrees to [sic] reports 

that will analyze the impact of the Pilot 

Program on market quality and options 

systems capacity. The reports will 

analyze the impact of the Pilot Program 

on market quality and options systems 

capacity. These reports will include, but 

are not limited to: (1) Data and written 

analysis on the number of quotations 

generated for options selected for the 

Pilot Program; (2) an assessment of the 

quotation spreads for the options 

selected for the Pilot Program; (3) an 

assessment of the impact of the Pilot 

Program on the capacity of the NYSE 

Amex’s automated systems; (4) any 

capacity problems or other problems 

that arose related to the operation of the 

Pilot Program and how the Exchange 

addressed them; and (5) an assessment 

of trade through complaints that were 

sent by the Exchange during the 

operation of the Pilot Program and how 

they were addressed. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 5 of 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, 

and to remove impediments to and 

perfect the mechanisms of a free and 

open market and a national market 

system. The Exchange believes that the 

Pilot Program promotes just and 

equitable principles of trade by enabling 

public customers and other market 

participants to express their true prices 

to buy and sell options. 

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 


jdjones on DSK8KYBLC1PROD with NOTICES
75716 Federal Register / Vol. 75, No. 233 / Monday, December 6, 2010 / Notices 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Penny Pilot Program has been in effect on 

BOX since January 26, 2007. See Securities 

Exchange Act Release No. 55155 (Jan. 23, 2007), 72 

FR 4741 (Feb. 1, 2007) (SR–BSE–2006–49). The 

Penny Pilot Program was later extended through 

September 27, 2007. See Securities Exchange Act 

Release No. 56149 (July 26, 2007), 72 FR 42450 

(Aug. 2, 2007) (SR–BSE–2007–38). A subsequent 

rule filing by the Exchange on September 27, 2007 

initiated a two-phased expansion of the Penny Pilot 

Program. See Securities Exchange Act Release No. 

56566 (Sept. 27, 2007), 72 FR 56400 (Oct. 3, 2007) 

(S–aRBSE–2007–40). See also Securities Exchange 

Act Release No. 57566 (March 26, 2008), 73 FR 

18013 (April 2, 2008) (SR–BSE–2008–20). The 

Penny Pilot Program was then extended and 

expanded a number of times and is set to expire on 

December 31, 2010. See Securities Exchange Act 

Release Nos. 59629 (March 26, 2009), 74 FR 15021 

(April 2, 2009) (SR–BX–2009–017); 60213 (July 1, 

2009), 74 FR 32998 (July 9, 2009) (SR–BX–2009– 

032); 60886 (Oct. 27, 2009), 74 FR 56897 (Nov. 3, 

2009) (SR–BX–2009–067); 60950 (Nov. 6, 2009), 74 

FR 58666 (Nov. 6, 2009) (SR–BX–2009–069); 61456 

(Feb. 1, 2010), 75 FR 6235 (Feb. 8, 2010) (SR–BX– 

2010–011); 62039 (May 5, 2010), 75 FR 26313 (May 

11, 2010) (SR–BX–2010–032) and 62615 (July 30, 

2010), 75 FR 47875 (Aug. 9, 2010) (SR–BX–2010– 

052). The extension of the effective date is the only 

change to the Penny Pilot Program being proposed 

at this time. 

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. 

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 rule-comments

@sec.gov. Please include File Number 

SR–NYSEAmex–2010–107 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-2010–107. 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 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 

Number SR–NYSEAmex–2010–107 and 

should be submitted on or before 

December 27, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–30431 Filed 12–3–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63397; File No. SR–BX– 

2010–084] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change as Modified by 

Amendment No. 1 To Extend, Through 

December 31, 2011, the Pilot Program 

That Permits Certain Classes To Be 

Quoted in Penny Increments on BOX 

November 30, 2010. 

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 November 

24, 2010, NASDAQ OMX BX, Inc. (the 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the self-regulatory 

organization. On November 30, 2010, 

the Exchange submitted Amendment 

No. 1 to the proposed rule change. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Chapter V, Section 33 (Penny Pilot 

Program) of the Rules of the Boston 

Options Exchange Group, LLC (‘‘BOX’’) 

to extend, through December 31, 2011, 

the pilot program that permits certain 

classes to be quoted in penny 

increments on BOX (‘‘Penny Pilot 

Program’’). The text of the proposed rule 

change is available from the principal 

office of the Exchange, at the 

Commission’s Public Reference Room, 

on the Commission’s Web site at http:// 

www.sec.gov, and also on the 

Exchange’s Internet Web site at http://

nasdaqomxbx.cchwallstreet.com/

NASDAQOMXBX/Filings/. 

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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to extend the 

effective time period of the Penny Pilot 

Program on BOX that is currently 

scheduled to expire on December 31, 

2010, for an additional year, through 

December 31, 2011.3 The Penny Pilot 

Program permits certain classes to be 


jdjones on DSK8KYBLC1PROD with NOTICES