Federal Register / Vol. 75, No. 44 / Monday, March 8, 2010 / Notices 10535 

11 15 U.S.C. 78s(b)(3)(A)(iii). 

12 17 CFR 240.19b–4(f)(6). 

13 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 has satisfied this requirement. 

14 17 CFR 240.19b–4(f)(6)(iii). 

15For 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). 16 15 U.S.C. 78s(b)(3)(C). 

17 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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 11 and Rule 

19b–4(f)(6) thereunder.12 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 

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. 

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative prior to 30 days after 

the date of the filing.13 However, 

pursuant to Rule 19b4(f)(6)(iii), the 

Commission may 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),14 which would make the 

rule change operative immediately. The 

Exchange believes that waiver of the 

operative delay is appropriate because 

the proposed rule change is merely a 

clarification of the operative date of 

previously approved amendments to the 

Exchange’s rules. 

The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because it merely clarifies the operative 

date of a previously approved rule 

change. Accordingly, the Commission 

designates the proposed rule change, as 

amended, as operative upon filing with 

the Commission.15

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.16

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–NYSE–2010–12 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–NYSE–2010–12. 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 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–NYSE–2010–12 and should 

be submitted on or before March 29, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–4784 Filed 3–5–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61614; File No. SR– 

NYSEAmex–2010–17] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC as Modified by Amendment 

No. 1 Thereto Clarifying the 

Implementation Date of the 

Amendments to NYSE Amex Equities 

Rule 123C To Modify the Procedures 

for Its Closing Process and Make 

Conforming Changes to NYSE Amex 

Equities Rules 13 and 15 

March 1, 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 February 

25, 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 prepared by the Exchange. On 

March 1, 2010, the Exchange filed 

Amendment No. 1 to the proposed rule 

change. The Commission is publishing 

this notice to solicit comments on the 

proposed rule change, as amended, from 

interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to clarify the 

implementation date of the amendments 

to NYSE Amex Equities Rule 123C 

(Market On The Close Policy And 

Expiration Procedures) to modify the 

procedures for its closing process; and 

make conforming changes to NYSE 

Amex Equities Rules 13 (‘‘Definitions of 

Orders’’) and 15 (‘‘Pre-Opening 

Indications’’). The text of the proposed 

rule change is available at the Exchange, 

the Commission’s Public Reference 

Room, and http://www.nyse.com. 


srobinson on DSKHWCL6B1PROD with NOTICES
10536 Federal Register / Vol. 75, No. 44 / Monday, March 8, 2010 / Notices 

3 Included in these amendments were conforming 

changes related to the information disseminated 

prior to the opening transaction are also proposed 

in this filing. 

4See Securities Exchange Release No. 61244 

(December 28, 2009), 75 FR 479 (January 5, 2010) 

(SR–NYSEAmex–2009–81). 

5See SR–NYSE–2010–12. 

6See definition of d-Quotes NYSE Amex Equities 

Rule 70, Supplementary Material .25. 

7See definition of e-Quotes NYSE Amex Equities 

Rule 70(a). 

8See Securities Exchange Release No. 59360 

(February 4, 2009), 74 FR 6936 (February 11, 2009) 

(SR–NYSEALTR–2009–06) (Establishing a single 

print for the closing transaction). See also, 

Securities Exchange Release No. 60151 (June 19, 

2009), 74 FR 30653 (June 29,2009) (SR– 

NYSEAmex–2009–29) (Inclusion of d-Quotes and 

all other e-Quotes containing pegging instructions 

eligible to participate in the closing transaction 

NYSE Amex Order Imbalance Information 

datafeed). 9 In the NYSE Amex Equities Rules and for the 

purposes of this discussion, the terms ‘‘market-onclose’’ and ‘‘limit-on-close’’ are used interchangeably 

with ‘‘market-at-the-close’’ and ‘‘limit-at-the-close’’. 10 15 U.S.C. 78f(b)(5). 

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 

NYSE Amex LLC (‘‘NYSE Amex’’ or 

the ‘‘Exchange’’) submits this filing to 

clarify the implementation date of 

amendments to NYSE Amex Equities 

Rule 123C (Market On The Close Policy 

And Expiration Procedures) to modify 

the procedures for its closing process; 

and make conforming changes to NYSE 

Amex Equities Rules 13 (‘‘Definitions of 

Orders’’) and 15 (‘‘Pre-Opening 

Indications’’) approved by the Securities 

and Exchange Commission on December 

23, 2009 (‘‘Close 3 Modifications’’).4

The Exchange notes that similar 

changes are proposed to the rules of its 

affiliate, New York Stock Exchange LLC 

(‘‘NYSE’’).5

Background 

In 2009, NYSE Amex implemented 

changes designed to streamline and 

improve the efficiency of its closing 

process, which included establishing a 

single print for the closing transactions, 

activating systemic compliance filters 

for market at-the-close (‘‘MOC’’) and 

limit at-the-close (‘‘LOC’’) orders and 

enhancing the transparency of its 

informational data feed for imbalances 

by including d-Quotes 6 and all other eQuotes 7 containing pegging instructions 

eligible to participate in the closing 

transaction in the NYSE Amex Order 

Imbalance Information datafeed.8

In addition, on December 23, 2009, 

the SEC approved the Exchanges filing 

to implement Close Modifications 

designed to further streamline the 

closing process, enhance transparency 

on the close and allow for greater 

customer participation when there is an 

imbalance in a security prior to the 

closing transaction. Pursuant to the 

Close Modifications, NYSE Amex 

amended NYSE Amex Equities Rule 

123C to: (i) Extend the time for the entry 

of MOC/LOC orders 9 from 3:40 p.m. to 

3:45 p.m.; (ii) amend the procedures for 

the entry of MOC/LOC orders in 

response to imbalance publications and 

regulatory trading halts; (iii) change to 

the cancellation time for MOC/LOC 

orders to 3:58 p.m.; (iv) require only one 

mandatory imbalance publication; (v) 

rescind the provisions governing 

Expiration Friday Auxiliary Procedures 

for the Opening and Due Diligence 

Requirements; (vi) modify the 

dissemination of Order Imbalance 

Information pursuant to NYSE Amex 

Equities Rule 123C(6) to commence at 

3:45 p.m.; (vii) include additional 

information in both the pre-opening and 

pre-closing Order Imbalance 

Information data feeds; (viii) amend 

NYSE Amex Equities Rule 13 to create 

a conditional-instruction limit order 

type called the Closing Offset Order 

(‘‘CO order’’), which may only be used 

to offset an existing imbalance of orders 

on the close; (ix) delete the ‘‘At the 

Close’’ order type from NYSE Amex 

Equities Rule 13 and replace it with the 

specific definitions of MOC/LOC orders; 

and (x) codify the hierarchy of 

allocation of interest in the closing 

transaction in NYSE Amex Equities 

Rule 123(C). 

Implementation of Closing 

Modifications 

The Exchange has not made operative 

the amendments described above. Based 

on feedback from the member firm 

community, NYSE Amex has delayed 

the implementation of the Closing 

Modifications to March 1, 2010. The 

Exchange believes that commencing 

operation of the Closing Modifications 

on March 1, 2010, will provide 

participants with additional time to 

ensure that member firms community 

will be systemically ready for to comply 

with the new provisions of the Rule. 

The Exchange anticipates that the 

Close Modifications will be operative in 

all securities effective March 1, 2010; 

however, should conditions arise to 

delay the implementation of the Close 

Modifications, the Exchange will 

provide information to its constituents 

about changes to the start date via its 

Trader Update Notices that are sent via 

e-mail to subscribers and posted on the 

Exchange’s Web site. 

Deletion of Erroneously Included Text 

The Exchange further proposes to 

delete NYSE Amex Equities Rule 

123C(5)(d). Specifically, NYSE Amex 

Equities Rule 123C(5)(d) is duplicative 

rule text. It addresses the publication of 

the Order Imbalance Information data 

feed in the event of an early close. NYSE 

Amex Equities Rule 123C(5)(d) is the 

exact same language as NYSE Amex 

Equities Rule 123C(6)(a)(v) (‘‘Publication 

of Order Imbalance Information Data 

Feed’’). The paragraph was inadvertently 

copied into the wrong section and 

should therefore be deleted. 

2. Statutory Basis 

The basis under the Act for this 

proposed rule change is the requirement 

under Section 6(b)(5) 10 that an 

Exchange have rules that are designed to 

promote just and equitable principles of 

trade, 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 

instant proposal is in keeping with these 

principles in that it provides 

transparency to market participants by 

explaining the anticipated operation 

date of the Close Modifications and the 

locations where market participants. 

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. 


srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 75, No. 44 / Monday, March 8, 2010 / Notices 10537 

11 15 U.S.C. 78s(b)(3)(A)(iii). 

12 17 CFR 240.19b–4(f)(6). 

13 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. 

14 17 CFR 240.19b–4(f)(6)(iii). 

15For 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). 16 15 U.S.C. 78s(b)(3)(C). 

17 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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 11 and Rule 

19b–4(f)(6) thereunder.12 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 

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. 

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative prior to 30 days after 

the date of the filing.13 However, 

pursuant to Rule 19b4(f)(6)(iii), the 

Commission may 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),14 which would make the 

rule change operative immediately. The 

Exchange believes that waiver of the 

operative delay is appropriate because 

the proposed rule change is merely a 

clarification of the operative date of 

previously approved amendments to the 

Exchange’s rules. 

The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because it merely clarifies the operative 

date of a previously approved rule 

change. Accordingly, the Commission 

designates the proposed rule change, as 

amended, as operative upon filing with 

the Commission.15

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.16

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–2010–17 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–2010–17. 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 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–NYSEAmex–2010–17 and 

should be submitted on or before March 

29, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–4785 Filed 3–5–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61619; File No. SR– 

NYSEAmex–2010–20] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC To Amend Its Price List 

March 1, 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 February 

26, 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, 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 

2010 Price List to specify that 

executions of Closing Offset (‘‘CO’’) 

orders will be free of charge. The text of 

the proposed rule change is available at 

the Exchange, the Commission’s Public 

Reference Room, and http://

www.nyse.com. 

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, 


srobinson on DSKHWCL6B1PROD with NOTICES