16888 Federal Register / Vol. 77, No. 56 / Thursday, March 22, 2012 / Notices 

28 15 U.S.C. 78f(b). 

29 15 U.S.C. 78f(b)(5). 

30 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

This is true for both surveillance system 

processing and manual processes that 

support the ISE’s surveillance program. 

Finally, the Exchange has the 

necessary systems capacity to support 

new options series that will result from 

the introduction of options on the ISE 

Max SPY, including Leaps. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

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

the rules and regulations thereunder, 

and, in particular, the requirements of 

Section 6(b) of the Act.28 In particular, 

the Exchange believes the proposed rule 

change is consistent with Section 

6(b)(5) 29 requirements that the rules of 

an exchange [sic] designed to promote 

just and equitable principles of trade, to 

remove impediments to and to perfect 

the mechanism for a free and open 

market and a national market system, 

and in general, to protect investors and 

the public interest. The Exchange 

believes that p.m.-settlement for the 

subject index option in the manner 

proposed does not raise any meaningful 

regulatory concerns. Further, the 

Exchange believes that the proposal will 

not adversely impact fair and orderly 

markets on expiration Fridays for the 

underlying stocks comprising SPY. As 

discussed in Section (a) of Item 3 of this 

filing (the purpose section), the 

handling of orders at the close on the 

stock markets has matured considerably 

since concerns were initially raised in 

the late 1980s. Additionally, the 

proposed rule change would provide 

Members and investors with additional 

opportunities to trade S&P 500® options 

with a p.m.-settlement feature in an 

exchange environment and subject to 

transparent exchange-based rules, and 

that [sic] investors would also benefit 

from the opportunity to trade in 

association with this product on 

Expiration Fridays thereby removing 

impediments to a free and open market 

consistent with the Act. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

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 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 45 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 or disapprove 

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 email to rulecomments@sec.gov. Please include File 

Number SR–ISE–2012–22 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–ISE–2012–22. This file 

number should be included on the 

subject line if email 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 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–ISE– 

2012–22 and should be submitted on or 

before April 12, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.30

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–6863 Filed 3–21–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66610; File No. SR–Phlx– 

2012–29] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Delete 

Certain Select Symbols From the 

Rebates and Fees for Adding and 

Removing Liquidity in Select Symbols 

March 15, 2012. 

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 March 2, 

2012, NASDAQ OMX PHLX LLC 

(‘‘Phlx’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘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 

Section I of the Exchange’s Fee 

Schedule titled ‘‘Rebates and Fees for 

Adding and Removing Liquidity in 


tkelley on DSK3SPTVN1PROD with NOTICES
Federal Register / Vol. 77, No. 56 / Thursday, March 22, 2012 / Notices 16889 

3The term ‘‘Select Symbols’’ refers to the symbols 

which are subject to the Rebates and Fees for 

Adding and Removing Liquidity in Section I of the 

Exchange’s Fee Schedule. 

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

5 15 U.S.C. 78f(b)(4). 

6Section II, entitled ‘‘Equity Options Fees.’’ 

includes options overlying equities, ETFs, ETNs, 

indexes and HOLDRs which are Multiply Listed. 

7 15 U.S.C. 78s(b)(3)(A)(ii). 8 17 CFR 200.30–3(a)(12). 

Select Symbols,’’ specifically to remove 

various Select Symbols.3

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://nasdaqtrader.com/ 

micro.aspx?id=PHLXfilings, at the 

principal office of the Exchange, 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, 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of the proposed rule 

change is to amend the list of Select 

Symbols in Section I of the Exchange’s 

Fee Schedule, entitled ‘‘Rebates and 

Fees for Adding and Removing 

Liquidity in Select Symbols,’’ in order 

to remove certain delisted symbols from 

the list of Select Symbols. 

The Select Symbols in Section I are 

subject to the rebates and fees in that 

section. The Exchange is proposing to 

delete the following symbols from the 

list of Select Symbols in Section I of the 

Fee Schedule: American Airlines 

(‘‘AMR’’) and Eastman Kodak (‘‘EK’’) 

(collectively ‘‘Proposed Deleted 

Symbols’’). AMR was delisted on 

November 30, 2011 and EK was delisted 

on January 19, 2012 and therefore these 

symbols are not subject to the rebates 

and fees in Section I of the Fee 

Schedule. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its Fee Schedule is 

consistent with Section 6(b) of the Act 4

in general, and furthers the objectives of 

Section 6(b)(4) of the Act 5 in particular, 

in that it is an equitable allocation of 

reasonable fees and other charges among 

Exchange members and other persons 

using its facilities. 

The Exchange believes that it is 

reasonable to remove the Proposed 

Deleted Symbols from the list of Select 

Symbols because these symbols have 

been delisted and no longer trade on the 

Exchange. The Exchange believes that it 

is equitable and not unfairly 

discriminatory to remove the Proposed 

Deleted Symbols from the list of Select 

Symbols because all members, 

uniformly, would not be assessed either 

the rebates or the fees pursuant to either 

Section I or II 6 of the Fee Schedule with 

respect to the Proposed Deleted 

Symbols. 

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. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or 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)(ii) of the Act.7 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 email to rulecomments@sec.gov. Please include File 

No. SR–Phlx–2012–29 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 

No. SR–Phlx–2012–29. This file number 

should be included on the subject line 

if email 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 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 

available publicly. All submissions 

should refer to File No. SR–Phlx–2012– 

29 and should be submitted on or before 

April 12, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–6862 Filed 3–21–12; 8:45 am] 

BILLING CODE 8011–01–P 


tkelley on DSK3SPTVN1PROD with NOTICES