Federal Register / Vol. 74, No. 172 / Tuesday, September 8, 2009 / Notices 46287 

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 SR–BOX–2009–057. 

5Terms not otherwise defined herein shall have 

the meaning proscribed in the Options Order 

Protection and Locked/Crossed Market Plan, or the 

BOX Rules, respectively. 

6A recent proposal submitted by the Exchange for 

immediate effectiveness previously removed the 

following three (3) exchange-traded fund share 

classes from the Liquidity Make or Take pricing 

structure: (1) Standard & Poor’s Depositary 

Receipts® (SPY); (2) Powershares® QQQ Trust 

Series 1 (QQQQ); and (3) iShares Russell 2000® 

Index Fund (IWM). See Securities Exchange Act 

Release No. 60221 (July 1, 2009), 74 FR 32996 (July 

9, 2009) (SR–BX–2009–033). These three classes 

remain subject only to ‘‘standard’’ fees. 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(4). 

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 will also 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–BX–2009–058 and should be 

submitted on or before September 29, 

2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–21642 Filed 9–4–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60596; File No. SR–BX– 

2009–057] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Order Granting Accelerated 

Approval of Proposed Rule Change To 

Amend the Fee Schedule of the Boston 

Options Exchange Group, LLC 

August 31, 2009. 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 2 and Rule 19b-4 thereunder,3

notice is hereby given that on August 

31, 2009, NASDAQ OMX BX, Inc. (‘‘BX’’ 

or ‘‘Exchange’’) 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 self-regulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons and 

grant accelerated approval of the 

proposed rule change. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange is proposing an 

amendment to the Fee Schedule of the 

Boston Options Exchange Group, LLC 

(‘‘BOX’’). The text of the proposed rule 

change is available from the principal 

office of the Exchange, at the 

Commission’s Public Reference Room 

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 III below, 

and the most significant aspects of such 

statements are set forth in Sections A, B, 

and C below. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange recently submitted a 

proposed rule change 4 with the 

Commission which eliminated the 

Liquidity Make or Take Pricing 

Structure on BOX, except for inbound P 

and P/A Order executions.5 Instead of 

the fees and credits that had previously 

been applied under the Liquidity Make 

or Take Pricing Structure ‘‘standard’’ 

transaction fees now apply to all classes 

listed for trading on BOX that are 

included in the Penny Pilot Program, as 

referenced in Chapter V, Section 33 of 

the BOX Rules (‘‘Penny Pilot Classes’’).6

Executions on BOX resulting from 

inbound P and P/A Orders sent via the 

OCC Hub are subject to the same billing 

treatment as other executions on BOX. 

In conjunction with the above 

referenced rule change the Exchange is 

now proposing to remove Section 7 of 

the Fee Schedule in its entirety and the 

application of the Liquidity Make or 

Take Pricing to inbound P and P/A 

Orders sent to and executed on BOX in 

these Penny Pilot Classes. As a result 

the Liquidity Make or Take Pricing 

Structure will no longer exist on BOX. 

Standard P and P/A fees, as set forth in 

Section 4 of the BOX Fee Schedule, 

shall instead apply to inbound P and P/ 

A Orders in all Penny Pilot Classes. In 

addition, the current Section 8 of the 

Fee Schedule will be renumbered as 

new Section 7. If approved, this 

proposal will conform inbound P and P/ 

A fees with the fees charged to BOX 

Options Participants for the transactions 

in the same Penny Pilot Classes. 

For example, an inbound P or P/A 

Order, routed to BOX from an away 

market executes against an order resting 

on the BOX Book. The inbound P or P/ 

A Order is the remover of the liquidity. 

Prior to this proposal, such a transaction 

may have been subject to the fees set 

forth in the Liquidity Make or Take 

Pricing Structure, resulting in the 

applicable ‘‘take’’ fee (currently $0.45) 

of Section 7 of the Fee Schedule. Under 

this proposal, the standard $0.20 

inbound P and P/A Order fee would 

apply. 

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with the 

requirements of Section 6(b) of the Act,7

in general, and Section 6(b)(4) of the 

Act,8 in particular, in that it provides for 

the equitable allocation of reasonable 

dues, fees, and other charges among its 

members and issuers and other persons 

using its facilities for the purpose of 

executing inbound P and P/A Orders 

that are routed to BOX from other 

market centers. In particular, this 

proposed fee change will treat inbound 

P and P/A Orders the same as other 

orders in Penny Pilot Classes and 

amend pricing for executions on BOX so 

as to better compete with the current 

pricing in place on other exchanges. 

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 not 

necessary or appropriate in furtherance 

of the purposes of the Act. 


jlentini on DSKJ8SOYB1PROD with NOTICES
46288 Federal Register / Vol. 74, No. 172 / Tuesday, September 8, 2009 / Notices 

9 In approving this 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). 

10 15 U.S.C. 78f(b)(4). 

11 15 U.S.C. 78s(b)(2)(B). 

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

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants or Others 

The Exchange has neither solicited 

nor received comments on the proposed 

rule change. 

III. 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 (www.sec.gov/rules/ 

sro.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–BX–2009–057 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–2009–057. 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 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–BX–2009–057 and should 

be submitted on or before September 29, 

2009. 

IV. Commission’s Findings and Order 

Granting Accelerated Approval of the 

Proposed Rule Change 

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.9 In 

particular, the Commission finds that 

the proposed rule change is consistent 

with Section 6(b)(4) of the Act,10 which 

requires that the rules of an exchange 

provide for the equitable allocation of 

reasonable dues, fees and other charges 

among its members and other persons 

using its facilities. 

The Commission finds good cause for 

approving this proposal before the 30th 

day after the publication of notice 

thereof in the Federal Register pursuant 

to 19(b)(2)(B).11 The proposal conforms 

the Exchange’s fees charged for P Order 

and P/A Order executions in Penny 

Pilot Classes with the fees charged for 

other executions to BOX Participants in 

such Penny Pilot Classes. An 

accelerated approval will allow the 

Exchange to immediately implement a 

lower fee for market participants 

executing P Orders and P/A Orders on 

the Exchange. 

V. Conclusion 

It is therefore ordered, pursuant to 

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

proposed rule change (SR–BX–2009– 

057) be, and it hereby is, approved on 

an accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–21587 Filed 9–4–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60591; File No. SR–BX– 

2009–048] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

of Proposed Rule Change To Amend 

the Grandfathered Rules of the 

Exchange 

August 31, 2009. 

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 August 

17, 2009, 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 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 the 

Grandfathered Rules of the Exchange. 

This proposal seeks to incorporate 

certain provisions of the former 

Constitution of the Boston Stock 

Exchange into the Grandfathered Rules. 

The text of the proposed rule change is 

available from the principal office of the 

Exchange, at the Commission’s Public 

Reference Room 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 

Exchange 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 

Exchange has prepared summaries, set 

forth in Sections A, B, and C below, of 

the most significant aspects of such 

statements. 


jlentini on DSKJ8SOYB1PROD with NOTICES