23316 Federal Register / Vol. 77, No. 75 / Wednesday, April 18, 2012 / Notices 

20 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 3 17 CFR 240.19b–4(f)(6). 

4See BOX Trading Rules, Chapter XII, Section 

5(a), providing in pertinent part, ‘‘[o]nly orders that 

are specifically designated by Options Participants 

as eligible for routing will be routed to an Away 

Exchange (‘‘Eligible Orders). 

5See Chapter V, Section 16(b)(iii), providing that 

where an order is received which is executable 

against the NBBO and there is not a quote on BOX 

that is equal to the NBBO, that the order is exposed 

on the BOX Book at the NBBO for a period of one 

second. If the order is not executed during the one 

second exposure period, then the order is either 

routed or cancelled. 

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– 

2012–27 and should be submitted on or 

before May 9, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.20

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–9285 Filed 4–17–12; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–66792; File No. SR–BX– 

2012–025] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of a 

Proposed Rule Change To Amend 

Chapter V, Section 16 of the BOX 

Trading Rules 

April 12, 2012. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 1 and Rule 19b–4 thereunder,2

notice is hereby given that on April 3, 

2012, NASDAQ OMX BX, Inc. (the 

‘‘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 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 Substance of 

the Proposed Rule Change 

NASDAQ OMX BX, Inc. (the 

‘‘Exchange’’) proposes to amend Chapter 

V, Section 16 of the rules of the Boston 

Options Exchange (‘‘BOX’’) to address 

how BOX processes inbound orders 

when the BOX best price on the same 

side of the market locks, or is locked by 

the opposite side national best bid or 

offer (‘‘NBBO’’). 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/, and on the 

Commission’s Web site at http:// 

www.sec.gov. 

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 

The purpose of the proposed rule 

change is to amend Chapter V, Section 

16 of the BOX Rules to address how 

inbound orders are processed when the 

BOX best price on the same side of the 

market locks, or is locked by the 

opposite side national best bid or offer 

(‘‘NBBO’’). Currently, Chapter V, 

Section 16(b) sets forth that inbound 

orders on BOX are filtered prior to their 

entry on the BOX Book to ensure such 

orders will not Trade-Through the 

NBBO in accordance with the Options 

Order Protection and Locked/Crossed 

Market Plan (the ‘‘Plan’’). The rule 

provides that all of the filtering rules 

described are independent of whether 

the NBBO is locked or crossed, except 

where the BOX best price on the same 

side of the market as the inbound order 

has crossed, or is crossed by the 

opposite side NBBO, the order will be 

routed, if eligible, or rejected 

immediately. The Exchange proposes to 

amend the rule so that, in addition, 

where the BOX best price on the same 

side of the market as the inbound order 

has locked, or is locked by, the opposite 

side NBBO, the order will also be 

routed, if eligible, or rejected 

immediately. As such, the BOX trading 

engine is systemically either routing to 

an Away Exchange 4 or immediately 

rejecting such an order. Immediately 

rejecting such an order, which is not 

eligible for routing, prevents that order 

from being exposed,5 and thereby 

removes the potential that such order 

could join the pre-existing locked 

market. 

The following two examples illustrate 

how the proposed rule change would 

apply to inbound orders when the BOX 

best price on the same side of the 

market locks the opposite side NBBO 

and the orders are not designated as 

Eligible Orders: Example 1: When the 

NBBO is $6.65 × $6.60 and the BOX best 

price is $6.60 × $6.80, BOX receives a 

public customer order to buy at $6.60. 

Such an order is rejected by the trading 

engine back to the order sender. 

Example 2: When the NBBO is × $4.00 

× $4.00 and the BOX best price is $4.00 

×$4.05, BOX receives a public customer 

order to buy at $4.00. Such an order is 

rejected by the trading engine. In the 

above examples, if the order was an 

Eligible Order, then the order will be 

routed to an Away Exchange. 

The BOX NBBO filtering process set 

forth in Chapter V, Section 16 continues 

to be designed in a manner to prevent 

a sell order from being executed on BOX 

at a price inferior to the best bid 

available at any Away Exchange; 

similarly, any order to buy would not be 

executed on BOX at a price worse than 

the best offer available at any Away 

Exchange. Finally, Section (b)(i) is being 

amended to reflect that the term ISO is 

defined in subsection (h) of Chapter XII 

mstockstill on DSK4VPTVN1PROD with NOTICES

Federal Register / Vol. 77, No. 75 / Wednesday, April 18, 2012 / Notices 23317 

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

7 15 U.S.C. 78f(b)(5). 

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

9 17 CFR 240.19b–4(f)(6). Pursuant to Rule 19b– 

4(f)(6)(iii) under the Act, the Exchange is required 

to give the Commission written 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. The Exchange 

has satisfied this requirement. 10 17 CFR 200.30–3(a)(12). 

and not (g) as currently reflected in 

Section 16(b)(i). 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 6 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 7

in particular, in that it is designed to 

perfect the mechanisms of a free and 

open market and the national market 

system, protect investors and the public 

interest and promote just and equitable 

principles of trade by proposing the rule 

change to address how BOX processes 

inbound orders when the BOX best 

price on the same side of the market 

locks, or is locked by the opposite side 

national best bid or offer (‘‘NBBO’’). 

The Plan provides a framework for 

order protection and addressing locked 

and crossed markets. As discussed 

above, the proposed rule change 

provides that where the BOX best price 

on the same side of the market as an 

inbound order has crossed or locked, or 

is crossed by, or locked by the opposite 

side NBBO, the order will be routed, if 

eligible, or rejected immediately. The 

Exchange believes handling the order as 

described above is consistent with the 

objectives of the Plan and assists BOX 

Options Participant in that it 

systemically removes the potential that 

such an order could join a pre-existing 

locked market. As such, the Exchange 

believes the proposed rule change is 

consistent with the Plan, necessary and 

appropriate in the public interest, for 

the protection of investors and the 

maintenance of fair and orderly markets, 

to remove impediments to, and perfect 

the mechanisms of, a national market 

system. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe 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 

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 for 30 days after the date of 

the filing, or such shorter time as the 

Commission may designate, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 8 and Rule 19b–4(f)(6) 

thereunder.9

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 

change 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 

Number SR–BX–2012–025 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–2012–025. 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 (PREAMB). 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–BX– 

2012–025 and should be submitted on 

or before May 9, 2012. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2012–9284 Filed 4–17–12; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF STATE 

[Public Notice 7849] 

60-Day Notice of Proposed Information 

Collection: DS–3032 Choice of 

Address and Agent for Immigrant Visa 

Applicants, 1405–0126 

ACTION: Notice of request for public 

comments. 

SUMMARY: The Department of State is 

seeking Office of Management and 

Budget (OMB) approval for the 

information collection described below. 

The purpose of this notice is to allow 60 

days for public comment in the Federal 

Register preceding submission to OMB. 

We are conducting this process in 

accordance with the Paperwork 

Reduction Act of 1995. 

• Title of Information Collection: 

Choice of Address and Agent for 

Immigrant Visa Applicants. 

• OMB Control Number: 1405–0126. 

• Type of Request: Extension. 

• Originating Office: CA/VO/L/R. 

• Form Number: DS–3032. 

• Respondents: Immigrant Visa 

Applicants. 

• Estimated Number of Respondents: 

330,000. 

mstockstill on DSK4VPTVN1PROD with NOTICES