Federal Register / Vol. 74, No. 172 / Tuesday, September 8, 2009 / Notices 46267 

13 15 U.S.C. 78s(b)(3)(a)(iii). 

14 17 CFR 240.19b–4(f)(3). 

15 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.1919b–4. 

3Changes are marked to the rule text that appears 

in the electronic manual of Nasdaq found at http:// 

nasdaqomx.cchwallstreet.com. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

Written comments were neither 

solicited nor received. 

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)(iii) of the Act 13 and 

subparagraph (f)(3) of Rule 19b–4 

thereunder.14 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–BX–2009–049 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–BX–2009–049. 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 inspection and copying 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 publicly available. All 

submissions should refer to File 

Number SR–BX–2009–049 and should 

be submitted on or before September 29, 

2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–21667 Filed 9–4–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60611; File No. SR– 

NASDAQ–2009–077] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing of Proposed Rule Change To 

Modify the Procedures Followed When 

a Listed Company Falls Below Certain 

Listing Requirements 

September 2, 2009. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 1919b–4 

thereunder,2 notice is hereby given that 

on August 17, 2009, The NASDAQ 

Stock Market LLC (‘‘Nasdaq’’) 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 Nasdaq. 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 

Nasdaq proposes to modify the 

procedures followed when a listed 

company falls below certain listing 

requirements. Nasdaq will implement 

the proposed rule upon approval. 

The text of the proposed rule change 

is below. Proposed new language is in 

italics; proposed deletions are in 

brackets.3

5810. Notification of Deficiency by the 

Listing Qualifications Department 

When the Listing Qualifications 

Department determines that a Company 

does not meet a listing standard set forth 

in the Rule 5000 Series, it will 

immediately notify the Company of the 

deficiency. As explained in more detail 

below, deficiency notifications are of 

four types: 

(1)–(4) No change. 

Notifications of deficiencies that 

allow for submission of a compliance 

plan or an automatic cure or compliance 

period may result, after review of the 

compliance plan or expiration of the 

cure or compliance period, in issuance 

of a Staff Delisting Determination or a 

Public Reprimand Letter. 

(a)–(b) No change. 

IM–5810–1. No change. 

(c) Types of Deficiencies and 

Notifications. 

The type of deficiency at issue 

determines whether the Company will 

be immediately suspended and delisted, 

or whether it may submit a compliance 

plan for review or is entitled to an 

automatic cure or compliance period 

before a Staff Delisting Determination is 

issued. In the case of a deficiency not 

specified below, Staff will issue the 

Company a Staff Delisting 

Determination or a Public Reprimand 

Letter. 

(1) No change. 

(2) Deficiencies for which a Company 

may Submit a Plan of Compliance for 

Staff Review. 

(A) Unless the Company is currently 

under review by an Adjudicatory Body 

for a Staff Delisting Determination, the 

Listing Qualifications Department may 

accept and review a plan to regain 

compliance when a Company is 

deficient with respect to one of the 

standards listed in subsections (i) 

through (iv) below. In accordance with 

Rule 5810(c)(2)(C), plans provided 

pursuant to subsections (i) through (iii) 

below must be provided generally 

within [15] 45 calendar days, and in 

accordance with Rule 5810(c)(2)(F), 

plans provided pursuant to subsection 

(iv) must be provided generally within 

60 calendar days. 

(i)–(iv) No change. 

IM–5810–2. No change. 


jlentini on DSKJ8SOYB1PROD with NOTICES
46268 Federal Register / Vol. 74, No. 172 / Tuesday, September 8, 2009 / Notices 

4Nasdaq is also proposing to eliminate certain 

abbreviations that are used inconsistently and 

utilize defined terms, as appropriate, in Rules 5810 

and 5840, and to remove authority in Rule 

5810(c)(2)(C) that is duplicated in Rule 

5810(c)(2)(B). 

5Rule 5810(b)(3)(A). 

6Rule 5810(b)(3)(C). NASDAQ recently changed 

the period to regain compliance with the market 

value of listed securities requirement from 30 to 90 

days. Securities Exchange Act Release No. 59291 

(January 23, 2009), 74 FR 5197 (January 29, 2009) 

(SR–NASDAQ–2009–002). 

7Rule 5810(b)(3)(D). 

(B) Staff Alternatives Upon Review of 

Plan Staff may request such additional 

information from the Company as is 

necessary to make a determination, as 

described below. In cases other than 

filing delinquencies, which are 

governed by Rule 5810(c)(2)(F) below, 

upon review of a plan of compliance, 

Staff may either: 

(i) Grant an extension of time to 

regain compliance not greater than [105] 

180 calendar days from the date of 

Staff’s initial notification, unless the 

Company is currently under review by 

an Adjudicatory Body for a Staff 

Delisting Determination. If Staff grants 

an extension, it will inform the 

Company in writing of the basis for 

granting the extension and the terms of 

the extension; 

(ii)–(iii) No change. 

(C) Timeline for Submission of 

Compliance Plans 

Except for deficiencies from the 

standards of Rule 5250(c)(1) or (2), 

Staff’s notification of deficiencies that 

allow for compliance plan review will 

inform the Company that it has [15] 45 

calendar days to submit a plan to regain 

compliance with Nasdaq’s listing 

standard(s). [Within the restrictions of 

paragraph (B),] Staff may extend this 

deadline for up to an additional 5 

calendar days upon good cause shown 

and may request such additional 

information from the Company as is 

necessary to make a determination 

regarding whether to grant such an 

extension.[, and upon receipt of the 

Company’s plan, may request additional 

information from the Company to help 

it determine the Company’s ability to 

regain compliance.] 

(D)–(F) No change. 

(3) Deficiencies for which the Rules 

Provide a Specified Cure or Compliance 

Period 

With respect to deficiencies related to 

the standards listed in (A)–(E) below, 

Staff’s notification will inform the 

Company of the applicable cure or 

compliance period provided by these 

Rules and discussed below. If the 

Company does not regain compliance 

within the specified cure or compliance 

period, the Listing Qualifications 

Department will immediately issue a 

Staff Delisting Determination letter. 

(A)–(B) No change. 

(C) Market Value of Listed Securities 

[(MVLS)] 

A failure to meet the continued listing 

requirements for [MVLS] Market Value 

of Listed Securities shall be determined 

to exist only if the deficiency continues 

for a period of [10] 30 consecutive 

business days. Upon such failure, the 

Company shall be notified promptly and 

shall have a period of [90] 180 calendar 

days from such notification to achieve 

compliance [with the applicable 

continued listing standard]. Compliance 

can be achieved by meeting the 

applicable standard for a minimum of 

10 consecutive business days during the 

[90] 180 day compliance period. 

(D) Market Value of Publicly Held 

Shares [(MVPHS)] 

A failure to meet the continued listing 

requirement for Market Value of 

Publicly Held Shares shall be 

determined to exist only if the 

deficiency continues for a period of 30 

consecutive business days. Upon such 

failure, the Company shall be notified 

promptly and shall have a period of [90] 

180 calendar days from such 

notification to achieve compliance. [ 

]Compliance can be achieved by 

meeting the applicable standard for a 

minimum of 10 consecutive business 

days during the [90] 180 day 

compliance period. 

(E)–(F) No change. 

(4) No change. 

(d) No change. 

* * * * * 

5840. Adjudicatory Process: General 

Information 

(a)–(d) No change. 

(e) Computation and Adjustment of 

Time 

(1) No change. 

(2) When Staff determines whether a 

deficiency has occurred with respect to 

[bid price, market value of listed 

securities] the Bid Price, Market Value 

of Listed Securities or [market value of 

publicly held shares] Market Value of 

Publicly Held Shares requirements, the 

first trading day that the [bid price or 

market value] Bid Price or Market Value 

is below required standards is included 

in computing the total number of 

consecutive trading days of default. 

Similarly, when Staff determines 

whether a Company has regained 

compliance with the [bid price, MVLS 

or MVPHS] Bid Price, Market Value of 

Listed Securities, or Market Value of 

Publicly Held Shares requirements, the 

first trading day that the [bid price or 

market value] Bid Price or Market Value 

is at or above required standards is 

included in computing the total number 

of consecutive trading days. 

(3)–(4) No change. 

(f)–(k) No change. 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

Nasdaq 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. Nasdaq 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 

Nasdaq is proposing to modify certain 

of the listing rules that provide the 

compliance periods associated with 

Nasdaq’s continued listing rules to make 

them more consistent and, in some 

cases, to provide additional time to 

companies to regain compliance. In 

addition, Nasdaq is proposing to modify 

the time available to a company to 

provide a plan to regain compliance 

with certain listing requirements and 

the length of the extension that Nasdaq 

staff can allow a company to regain 

compliance.4

Price Related Criteria 

Under Nasdaq rules, if a company’s 

security has a closing bid price below $1 

for 30 consecutive trading days, it no 

longer meets the bid price requirement 

and is automatically provided 180 

calendar days to regain compliance.5

However, under other requirements that 

are derived, in part, from the company’s 

price, the company may be found noncompliant based on fewer days below 

the applicable threshold or have less 

time to regain compliance. Specifically, 

under the current rules related to market 

value of listed securities, a company is 

non-compliant after being below the 

standard for 10 consecutive trading days 

and, thereafter, is provided only 90 

calendar days to regain compliance.6

Similarly, while the rules for market 

value of publicly held shares provide 

that a company is not deficient until it 

is below the standard for 30 consecutive 

trading days, the company is only 

provided with 90 calendar days to 

regain compliance.7 Because 


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Federal Register / Vol. 74, No. 172 / Tuesday, September 8, 2009 / Notices 46269 

8Nasdaq could apply its authority described in 

Rule 5100 to delist a security during a compliance 

period if the market value of listed securities or 

market value of publicly held shares was so low 

that delisting is necessary to maintain the quality 

of and public confidence in the market, to prevent 

fraudulent and manipulative acts and practices, and 

to protect investors and the public interest. 

9Proposed Rules 5810(c)(3)(C) and 5810(c)(3)(D). 

10An appeal to the Hearings Panel stays the 

securities delisting. Rule 5815(a)(1). The company 

can submit a plan to regain compliance and request 

that the Hearings Panel grant an exception to the 

listing standards for a limited time period. Rule 

5815(a)(5). Based on its review of that plan, the 

Hearings Panel can grant the company a maximum 

of 180 days from the date of the staff’s delisting 

determination to regain compliance. Rule 

5815(c)(1)(A). 

11Rule 5820(a) provides that an appeal to the 

Nasdaq Listing and Hearings Review Council does 

not operate to stay a Hearings Panel’s decision to 

delist a company. In order for a Panel decision to 

be stayed, the Listing Council must call the matter 

for review pursuant to Rule 5820(b) and 

affirmatively determine to stay the Panel’s decision. 

12When the Listing Council calls a matter for 

review it provides the company with a deadline to 

submit a written submission. Rule 5820(b). The 

Listing Council’s review is based on the written 

record, including that submission. Rule 5820(e)(1). 

13Rule 5820(d)(1). 

14Rule 5810(c)(2) and IM–5810–2 provide the 

procedures governing deficiencies for which a 

company may submit a plan of compliance to 

Nasdaq staff. Nasdaq has posted frequently asked 

questions at http://www.nasdaq.com/about/faqslisting-information-questions.stm#continued, which 

discuss the information a company should consider 

in preparing its plan of compliance. 

15 It is anticipated that this authority would be 

used to address cases where the company could not 

timely submit its plan due to events outside the 

control of the company, such as when severe 

weather interferes with the company’s ability to 

provide the necessary information before the 

deadline. 

16Nasdaq staff will determine whether to allow 

the company additional time, and if so how much 

time to allow, based on a review of the company’s 

plan of compliance. 

17Proposed Rule 5810(c)(2)(B)(i). 

18See footnote 10, supra. 

19See footnotes 11–13, supra. 

20For example, if a security is below the market 

value of listed securities requirement for 7 

consecutive trading days when the proposed rule is 

approved, the company would not be notified that 

it is deficient unless and until the security remains 

below the requirement for another 23 consecutive 

trading days, such that it remained below for a total 

of 30 consecutive trading days. 

21For example, if a company had been notified 

that its security was below either the market value 

of listed securities or market value of publicly held 

shares requirement 30 days before the proposed 

rule is approved, such that it had 60 days remaining 

in its compliance period, that compliance period 

would be extended by 90 days so that the company 

would have 150 days remaining in the compliance 

period. 

compliance with each of these rules is 

directly related to the price of an 

issuer’s security, Nasdaq believes that 

the length of time to trigger noncompliance, and the amount of time 

afforded as a compliance period, should 

be consistent with each other and with 

the periods applicable under the bid 

price rules. Therefore Nasdaq proposes 

to extend the period that a company 

would need to be below the minimum 

market value of listed securities 

requirement before being considered 

non-compliant from 10 to 30 

consecutive trading days. In addition to 

providing consistency among the pricerelated tests, Nasdaq believes that this 

longer period will prevent a short-term 

market-wide decline from causing a 

company to become non-compliant. 

Nasdaq also proposes to extend from 90 

to 180 days the compliance period in 

which companies that are noncompliant with the market value of 

listed securities and market value of 

publicly held shares requirements can 

regain compliance.8 Nasdaq believes 

that the existing 90-day time frames do 

not provide sufficient time for a 

company to regain compliance. For 

example, if a company chooses to issue 

additional shares to evidence 

compliance, 90 calendar days is often an 

insufficient time to allow a company to 

obtain any necessary shareholder 

approval, register the shares, and 

demonstrate compliance for 10 business 

days. 

As revised, the maximum amount of 

time that could be afforded to a 

company that failed to meet the market 

value of listed securities or market value 

of publicly held shares requirements 

would be 18 months. A company could 

only receive an extension up to this 18- 

month maximum length if: (i) It failed 

to comply during the automatic 180-day 

compliance period; 9 (ii) the company 

appealed to a Hearings Panel; 10 and (iii) 

the Nasdaq Listing and Hearing Review 

Council determined to call the matter 

for review, stay the company’s 

delisting,11 and, after reviewing the 

company’s compliance plan,12 provide 

the company with the maximum 360- 

day period from the date of the Staff 

Delisting Determination to regain 

compliance.13

Requirements with Respect to 

Compliance Plans 

Nasdaq also proposes to modify the 

periods applicable in cases where a 

company can provide staff with a plan 

to regain compliance, such as when a 

company fails to meet the minimum 

requirements for stockholders’ equity, 

the number of publicly held shares, or 

the number of shareholders.14

Currently, companies are provided 15 

calendar days to submit a plan to regain 

compliance and, following a review of 

the plan, staff can grant the company a 

period of up to 105 calendar days from 

the initial notification of noncompliance for the company to regain 

compliance. Nasdaq’s experience has 

been that 15 days is often insufficient 

for a company to formulate a 

meaningful plan, especially given 

current market and economic 

conditions, and accordingly proposes to 

increase from 15 to 45 the number of 

calendar days a company has to present 

its plan. Staff would be permitted to 

grant up to a 5-day extension of this 

period upon good cause shown.15

Further, Nasdaq proposes to increase 

from 105 to 180 the number of calendar 

days for which staff can grant an 

extension of time from its initial 

notification of non-compliance.16

Nasdaq believes that this additional 

time will better allow companies to 

implement a plan to regain compliance. 

As revised, the maximum amount of 

time that could be afforded to a 

company that failed to meet a listing 

requirement that allows the submission 

of a plan to regain compliance would be 

18 months. A company could only 

receive an extension up to this 18- 

month maximum length if: (i) After 

reviewing the company’s compliance 

plan, Nasdaq staff granted the company 

the maximum 180-day period to regain 

compliance; 17 (ii) the company failed to 

comply within the time allowed by staff 

and appealed to a Hearings Panel;18 and 

(iii) the Nasdaq Listing and Hearing 

Review Council determined to call the 

matter for review, stay the company’s 

delisting, and, after reviewing the 

company’s compliance plan, provide 

the company with the maximum 360- 

day period from the date of the Staff 

Delisting Determination to regain 

compliance.19

Implementation 

Any company that had not yet been 

notified that is was non-compliant with 

the market value of listed securities 

requirement upon Commission approval 

of the proposed rule change would not 

be notified until they were below the 

requirement for 30 consecutive trading 

days.20 Any company that had already 

been notified that it was non-compliant 

with either the market value of listed 

securities requirement or the market 

value of publicly held shares 

requirement and that was still in the 90 

calendar day compliance period for 

such failure would have their 

compliance period extended until 180 

calendar days from the date they were 

originally notified of the deficiency.21

No additional time would be provided 

to a company that has received a Staff 

Delisting Determination for failure to 


jlentini on DSKJ8SOYB1PROD with NOTICES
46270 Federal Register / Vol. 74, No. 172 / Tuesday, September 8, 2009 / Notices 

22For example, if a company had been notified 

that its security was below either the market value 

of listed securities or market value of publicly held 

shares requirement 95 days before the proposed 

rule is approved, the company would not receive 

any additional time as a result of the proposed rule 

change. Such companies would continue through 

the Hearings and Appeals process, however, and 

could receive additional time as provided for in 

Rules 5815(c)(1)(A) and 5820(d)(1). 

23Rule 5810(c)(2)(B)(i). 

24The proposal to allow a company additional 

time at the end of its extension based on staff’s 

further review of the company is consistent with 

Nasdaq’s current practice of potentially allowing a 

company additional time if it was not initially 

granted the full 105 days allowed by current Rule 

5810(c)(2)(B)(i). 

25Such companies would continue through the 

Hearings and Appeals process, however, and could 

receive additional time as provided for in Rules 

5815(c)(1)(A) and 5820(d)(1). 

26 15 U.S.C. 78f. 

27 15 U.S.C. 78f(b)(5). 

28 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

meet either of those requirements before 

the proposed rule change is approved.22

With respect to the proposed changes 

to the compliance plan process, if a 

company has not yet submitted its plan 

of compliance when the proposed rule 

change is approved, the deadline to 

submit that plan would be extended 

until 45 days from the date of staff’s 

notification of the deficiency. If the 

company had submitted its plan of 

compliance when the proposed rule 

change is approved, but staff has not yet 

made a determination with respect to 

whether to grant additional time, staff 

would be permitted to grant the 

company up to 180 days from staff’s 

notification of the deficiency to regain 

compliance. If the company has already 

received an extension of time to regain 

compliance from staff when the 

proposed rule change is approved,23 at 

the end of that exception staff could, 

based on a review of the company at the 

time, grant additional time for the 

company to regain compliance, up to 

180 days from staff’s original 

notification of the deficiency.24 No 

additional time would be provided to a 

company that had already received a 

Staff Delisting Determination at the time 

the proposed rule change is approved.25

2. Statutory Basis 

Nasdaq believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,26 in 

general and with Sections 6(b)(5) of the 

Act,27 in particular, which requires, 

among other things, that a national 

securities exchange’s rules must be 

designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, and, in general, to protect 

investors and the public interest. 

Nasdaq believes that the proposed rule 

change is consistent with these 

requirements in that it would enhance 

consistency within Nasdaq’s rules and 

between Nasdaq and other markets, 

thereby reducing investor confusion and 

facilitating capital formation, while 

permitting reasonable periods of time 

for companies to address instances of 

non-compliance with Nasdaq rules. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Nasdaq does not believe that the 

proposed rule change will result in any 

burden on competition that is not 

necessary or appropriate in furtherance 

of the purposes of the Act, as amended. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the self-regulatory 

organization consents, the Commission 

will: 

A. By order approve such proposed 

rule change, or 

B. Institute proceedings to determine 

whether the proposed rule change 

should be 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–NASDAQ–2009–077 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–NASDAQ–2009–077. 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 inspection and copying 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 publicly available. All 

submissions should refer to File 

Number SR–NASDAQ–2009–077 and 

should be submitted on or before 

September 29, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.28

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–21644 Filed 9–4–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60609; File No. SR–BX– 

2009–056] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

Fee Schedule of the Boston Options 

Exchange Facility 

September 1, 2009. 

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

Securities Exchange Act of 1934 (‘‘Act’’ 

or ‘‘Exchange Act’’) 1 and Rule 19b–4 

thereunder,2 notice is hereby given that 

on August 31, 2009, NASDAQ OMX BX, 

Inc. (the ‘‘Exchange’’) filed with the 


jlentini on DSKJ8SOYB1PROD with NOTICES