52832 Federal Register / Vol. 74, No. 197 / Wednesday, October 14, 2009 / Notices 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4(f)(6). 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

Written comments regarding the 

above information should be directed to 

the following persons: (i) Desk Officer 

for the Securities and Exchange 

Commission, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, Room 10102, 

New Executive Office Building, 

Washington, DC 20503 or send an email to Shagufta_Ahmed@omb.eop.gov; 

and (ii) Charles Boucher, Director/CIO, 

Securities and Exchange Commission, 

C/O Shirley Martinson, 6432 General 

Green Way, Alexandria, Virginia 22312; 

or send an e-mail to: PRA_Mailbox 

@sec.gov. Comments must be submitted 

to OMB within 30 days of this notice. 

Dated: October 7, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–24633 Filed 10–13–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Submission for OMB Review; 

Comment Request 

Upon Written Request; Copies Available 

From: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: 

Form T–3; OMB Control No. 3235–0105; 

SEC File No. 270–123. 

Notice is hereby given that pursuant 

to the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501 et seq.) the Securities 

and Exchange Commission 

(‘‘Commission’’) has submitted to the 

Office of Management and Budget this 

request for extension of the previously 

approved collections of information 

discussed below. 

Form T–3 (17 CFR 269.3) is an 

application for qualification of an 

indenture under the Trust Indenture Act 

of 1939 (15 U.S.C. 77aaa et seq.). The 

information provided by Form T–3 is 

used by the staff to decide whether to 

qualify an indenture relating to 

securities offered to the public in an 

offering registered under the Securities 

Act of 1933 (15 U.S.C. 77a et seq.). Form 

T–3 is filed on occasion. The 

information required by Form T–3 is 

mandatory. This information is publicly 

available on EDGAR. Form T–3 takes 

approximately 43 hours per response to 

prepare and is filed by approximately 78 

respondents. We estimate that 25% of 

the 43 hours per response (11 hours) is 

prepared by the filer for a total annual 

reporting burden of 858 hours (11 hours 

per response × 78 responses). 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a currently valid 

control number. 

Written comments regarding the 

above information should be directed to 

the following persons: (i) Desk Officer 

for the Securities and Exchange 

Commission, Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, Room 10102, 

New Executive Office Building, 

Washington, DC 20503 or send an email to Shagufta_Ahmed@omb.eop.gov; 

and (ii) Charles Boucher, Director/CIO, 

Securities and Exchange Commission, 

C/O Shirley Martinson, 6432 General 

Green Way, Alexandria, Virginia 22312; 

or send an e-mail to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: October 6, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–24632 Filed 10–13–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60793; File No. SR–BX– 

2009–059] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Modify 

Potential Payment Amounts Available 

Under Rule 4626 

October 6, 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 

September 25, 2009, NASDAQ OMX 

BX, Inc. (the ‘‘Exchange’’ or ‘‘BX’’) 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 Exchange has designated the 

proposed rule change as constituting a 

non-controversial rule change under 

Rule 19b–4(f)(6) under the Act,3 which 

renders the proposal effective upon 

filing with the Commission. 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 the Substance 

of the Proposed Rule Change 

The Exchange is filing with the 

Commission a proposed rule change to 

modify potential payment amounts 

available under Rule 4626. BX will 

implement the proposed rule change 

effective November 1, 2009. The text of 

the proposed rule change is below. 

Proposed new language is italicized and 

proposed deletions are in brackets. 

* * * * * 

4626. Limitation of Liability 

(a) No Change. 

(b) The Exchange, subject to the 

express limits set forth below, may 

compensate users of the NASDAQ OMX 

BX Equities Market for losses directly 

resulting from the System’s actual 

failure to correctly process an order, 

Quote/Order, message, or other data, 

provided the NASDAQ OMX BX 

Equities Market has acknowledged 

receipt of the order, Quote/Order, 

message, or data. 

[(1) For one or more claims made by 

a single market participant related to the 

use of the NASDAQ OMX BX Equities 

Market on a single trading day, the 

Exchange’s liability shall not exceed the 

larger of $100,000, or the amount of any 

recovery obtained by the Exchange 

under any applicable insurance policy.] 

[(2) For the aggregate of all claims 

made by all market participants related 

to the use of the NASDAQ OMX BX 

Equities Market on a single trading day, 

the Exchange’s liability shall not exceed 

the larger of $250,000, or the amount of 

the recovery obtained by the Exchange 

under any applicable insurance policy.] 

[(3)] (1) For the aggregate of all claims 

made by all market participants related 

to the use of the NASDAQ OMX BX 

Equities Market during a single calendar 

month, the Exchange’s liability shall not 

exceed the larger of $500,000, or the 

amount of the recovery obtained by the 

Exchange under any applicable 

insurance policy. 

[(4)] (2) In the event all of the claims 

arising out of the use of the NASDAQ 

OMX BX Equities Market cannot be 

fully satisfied because in the aggregate 

they exceed the maximum amount of 

liability provided for in this Rule, then 

the maximum amount will be 

proportionally allocated among all such 

claims arising [on a single trading day, 

or] during a single calendar month [, as 

applicable]. 

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Federal Register / Vol. 74, No. 197 / Wednesday, October 14, 2009 / Notices 52833 

4See NYSE Arca Equities Rule 13.2. and ISE Rule 

705. 

5 15 U.S.C. 78f. 

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

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

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

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. BX has satisfied this requirement. 

(5) All claims for compensation 

pursuant to this Rule shall be in writing 

and must be submitted no later than [the 

opening of trading] 12:00 p.m. ET on the 

next business day following the day on 

which the use of the NASDAQ OMX BX 

Equities Market gave rise to such claims. 

Nothing in this rule shall obligate the 

Exchange to seek recovery under any 

applicable insurance policy. 

* * * * * 

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. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Currently, BX provides a limited 

exception to its general limitation of 

liability rules that allows for the 

payment of claims to users for order 

processing failures in the NASDAQ 

OMX BX Equities Market. BX proposes 

to modify its process for allocating such 

payments and extend the time period 

for users to submit such claims. Under 

the proposal, BX will eliminate the 

$100,000 and $250,000 daily caps on 

liability and consider all such claims on 

a monthly basis subject to the already 

existing $500,000 monthly liability cap. 

If the total amount of all claims from all 

users in calendar month exceeds the 

$500,000 monthly liability cap, the 

$500,000 maximum monthly dollar 

amount will be proportionally allocated 

among all such claims as set forth in the 

current rule. 

BX is also proposing to extend, until 

12 noon ET on the next business day 

following the day on which the use of 

the Nasdaq OMX BX Equities Market 

gives rise to a claim, the time period 

during which claims seeking 

compensation must be submitted. 

As BX analyzes total eligible liability 

claims on a per-month look-back basis, 

the proposal, in effect, would allow BX 

an increased capability to compensate a 

market participant(s) up to the monthly 

cap of $500,000 even though the losses 

occurred on a single day or were across 

multiple days for a single participant. 

The expansion of time to make such 

compensation claims likewise increases 

the ability of market participants to 

submit claims in a timely manner. 

Finally, BX notes that other market 

centers have rules in place to provide 

limited compensation for system 

malfunctions.4

2. Statutory Basis 

BX believes that the proposed rule 

change is consistent with the provisions 

of Section 6 of the Act,5 in general, and 

with Sections 6(b)(5) of the Act,6 in 

particular, in that the proposal 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 

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. As BX analyzes total 

eligible liability claims on a per-month 

look-back basis, the proposal, in effect, 

would allow BX an increased capability 

to compensate a market participant(s) 

up to the monthly cap of $500,000 even 

though the losses occurred on a single 

day or were across multiple days for a 

single participant. The expansion of 

time to make such compensation claims 

likewise increases the ability of market 

participants to submit claims in a timely 

manner. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange 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 

Because the foregoing 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 for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 7 and Rule 19b– 

4(f)(6) 8 thereunder. 

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–2009–059 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–2009–059. 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 

mstockstill on DSKH9S0YB1PROD with NOTICES

52834 Federal Register / Vol. 74, No. 197 / Wednesday, October 14, 2009 / Notices 

9 17 CFR 200.30–3(a)(12). 

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

2See Securities Exchange Act Release No. 56458 

(September 18, 2007), 72 FR 54309 (September 24, 

2007) (SR–CBOE–2007–107) for a description of the 

Temporary Membership status under Rule 3.19.02. 

3See Securities Exchange Act Release No. 58178 

(July 17, 2008), 73 FR 42634 (July 22, 2008) (SR– 

CBOE–2008–40) for a description of the Interim 

Trading Permits under Rule 3.27. 

4Rule 3.27(b) defines the clearing firm floating 

monthly rate as the floating monthly rate that a 

Clearing Member designates, in connection with 

transferable membership leases that the Clearing 

Member assisted in facilitating, for leases that 

utilize that monthly rate. 

5The concepts of an indicative lease rate and of 

a clearing firm floating month rate were previously 

utilized in the CBOE rule filings that set and 

adjusted the Temporary Member access fee. Both 

concepts are also codified in Rule 3.27(b) in relation 

to ITPs. 

6See Securities Exchange Act Release No. 57293 

(February 8, 2008), 73 FR 8729 (February 14, 2008) 

(SR–CBOE–2008–12), which established the 

original Temporary Member access fee, for detail 

regarding the rationale in support of the original 

Temporary Member access fee and the process used 

to set that fee, which is also applicable to this 

proposed change to the Temporary Member access 

fee as well. 

7See Securities Exchange Act Release No. 58200 

(July 21, 2008), 73 FR 43805 (July 28, 2008) (SR– 

CBOE–2008–77), which established the original ITP 

access fee, for detail regarding the rationale in 

support of the original ITP access fee and the 

process used to set that fee, which is also applicable 

to this proposed change to the ITP access fee as 

well. 

8 15 U.S.C. 78s(b)(3)(A)(ii). 

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–2009–059 and should 

be submitted on or before November 4, 

2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–24615 Filed 10–13–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Release No. 34–60796; File No. SR–CBOE– 

2009–072] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to Temporary 

Membership Status and Interim 

Trading Permit Access Fees 

October 7, 2009. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 notice is hereby given that on 

September 30, 2009, the Chicago Board 

Options Exchange, Incorporated 

(‘‘CBOE’’ or 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 CBOE. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested parties. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

CBOE proposes to adjust (i) the 

monthly access fee for persons granted 

temporary CBOE membership status 

(‘‘Temporary Members’’) pursuant to 

Interpretation and Policy .02 under 

CBOE Rule 3.19 (‘‘Rule 3.19.02’’) and 

(ii) the monthly access fee for Interim 

Trading Permit (‘‘ITP’’) holders under 

CBOE Rule 3.27. The text of the 

proposed rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.org/Legal/), at the Exchange’s 

Office of the Secretary, and at the 

Commission’s Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

CBOE 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 CBOE 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 current access fee for Temporary 

Members under Rule 3.19.02 2 and the 

current access fee for ITP holders under 

Rule 3.27 3 are both $11,287 per month. 

Both access fees are currently set at the 

indicative lease rate (as defined below) 

for September 2009. The Exchange 

proposes to adjust both access fees 

effective at the beginning of October 

2009 to be equal to the indicative lease 

rate for October 2009 (which is 

$11,900). Specifically, the Exchange 

proposes to revise both the Temporary 

Member access fee and the ITP access 

fee to be $11,900 per month 

commencing on October 1, 2009. 

The indicative lease rate is defined 

under Rule 3.27(b) as the highest 

clearing firm floating monthly rate 4 of 

the CBOE Clearing Members that assist 

in facilitating at least 10% of the CBOE 

transferable membership leases.5 The 

Exchange determined the indicative 

lease rate for October 2009 by polling 

each of these Clearing Members and 

obtaining the clearing firm floating 

monthly rate designated by each of 

these Clearing Members for that month. 

The Exchange used the same process 

to set the proposed Temporary Member 

and ITP access fees that it used to set 

the current Temporary Member and ITP 

access fees. The only difference is that 

the Exchange used clearing firm floating 

monthly rate information for the month 

of October 2009 to set the proposed 

access fees (instead of clearing firm 

floating monthly rate information for the 

month of September 2009 as was used 

to set the current access fees) in order 

to take into account changes in clearing 

firm floating monthly rates for the 

month of October 2009. 

The Exchange believes that the 

process used to set the proposed 

Temporary Member access fee and the 

proposed Temporary Member access fee 

itself are appropriate for the same 

reasons set forth in CBOE rule filing SR– 

CBOE–2008–12 with respect to the 

original Temporary Member access fee.6

Similarly, the Exchange believes that 

the process used to set the proposed ITP 

access fee and the proposed ITP access 

fee itself are appropriate for the same 

reasons set forth in CBOE rule filing SR– 

CBOE–2008–77 with respect to the 

original ITP access fee.7

Each of the proposed access fees will 

remain in effect until such time either 

that the Exchange submits a further rule 

filing pursuant to Section 19(b)(3)(A)(ii) 

of the Act 8 to modify the applicable 

access fee or the applicable status (i.e., 

the Temporary Membership status or 

the ITP status) is terminated. 

Accordingly, the Exchange may, and 

likely will, further adjust the proposed 

access fees in the future if the Exchange 

determines that it would be appropriate 

to do so taking into consideration lease 

mstockstill on DSKH9S0YB1PROD with NOTICES