Federal Register / Vol. 78, No. 6 / Wednesday, January 9, 2013 / Notices 1889 

12 15 U.S.C. 78s(b)(3)(A)(ii). 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

TOPO Plus Orders, PHLX Orders and 

PHLX Depth of Market data feed or to 

utilize any specific pricing alternative if 

they do choose to purchase TOPO, 

TOPO Plus Orders, PHLX Orders and 

PHLX Depth of Market data feed. Phlx 

is not required to make TOPO, TOPO 

Plus Orders, PHLX Orders and PHLX 

Depth of Market data feed available or 

to offer specific pricing alternatives for 

potential purchases. Phlx can 

discontinue offering a pricing 

alternative (as it has in the past) and 

firms can discontinue their use at any 

time and for any reason (as they often 

do), including due to their assessment of 

the reasonableness of fees charged. Phlx 

continues to establish and revise pricing 

policies aimed at increasing fairness and 

equitable allocation of fees among 

Subscribers. If the market deems the 

proposed fees to be unfair or 

inequitable, firms can diminish or 

discontinue their use of this data. 

Phlx believes that periodically it must 

adjust TOPO, TOPO Plus Orders, PHLX 

Orders and PHLX Depth of Market data 

feed Enterprise Data Subscriber fees to 

reflect market forces. Given that this fee 

change represents the first Professional 

and Non-Professional Subscriber price 

change to TOPO, TOPO Plus Orders, 

PHLX Orders and PHLX Depth of 

Market data products, Phlx believes it is 

an appropriate time to adjust these fees 

to more accurately reflect the 

investments made to enhance this 

product through capacity upgrades and 

data sets added. This also reflects that 

the market for TOPO, TOPO Plus 

Orders, PHLX Orders and PHLX Depth 

of Market data feed information is 

highly competitive and continually 

evolves as products develop and 

change. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Phlx 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. 

To the contrary, the market for options 

orders and executions is already highly 

competitive and Phlx’s proposal is itself 

pro-competitive in several ways. First, 

TOPO, TOPO Plus Orders, PHLX Orders 

and PHLX Depth of Market data feed 

offer a comprehensive, competitive 

alternative to the consolidated data 

OPRA feed for users and situations 

where consolidated data is unnecessary. 

Second, Phlx believes that offering 

TOPO, TOPO Plus Orders, PHLX Orders 

and PHLX Depth of Market data feed 

will help attract new Subscribers and 

new order flow to the Phlx market, 

thereby improving execution quality 

and Phlx’s ability to compete in the 

market for options order flow and 

executions. 

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.12 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 

Number SR–Phlx–2012–145 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. 

All submissions should refer to File 

Number SR-Phlx-2012–145. 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 

10:00 a.m. and 3:00 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 Number SR-Phlx2012–145 and should be submitted on 

or before January 30, 2013. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2013–00255 Filed 1–8–13; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–68573; File No. SR–C2– 

2012–043] 

Self-Regulatory Organizations; C2 

Options Exchange, Incorporated; 

Notice of Filing and Immediate 

Effectiveness of a Proposed Rule 

Change, as Modified by Amendment 

No. 1 Thereto, To Adopt a HAL System 

January 3, 2013. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on December 

21, 2012, C2 Options Exchange, 

Incorporated (the ‘‘Exchange’’ or ‘‘C2’’) 

filed with the Securities and Exchange 

Commission (the ‘‘Commission’’) the 

proposed rule change as described in 

Items I, II, and III below, which Items 

have been prepared by the Exchange. 

On January 2, 2013, the Exchange 

submitted Amendment No. 1 to the 


srobinson on DSK4SPTVN1PROD with 
1890 Federal Register / Vol. 78, No. 6 / Wednesday, January 9, 2013 / Notices 

3 In Amendment No. 1, the Exchange modified 

the description of the proposed rule change to 

reflect the proposed rule text that provides that 

HAL will be open to all Trading Permit Holders. 

proposed rule change.3 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 proposes to adopt a 

HAL system. The text of the proposed 

rule change is provided in Exhibit 5. 

The text of the proposed rule change is 

also available on the Exchange’s Web 

site (http://www.c2exchange.com/ 

Legal/), at the Exchange’s Office of the 

Secretary, and at the Commission. 

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 Exchange proposes to adopt a 

rule that governs the operation of its 

new HAL system (‘‘HAL’’). HAL is a 

feature within the C2 System that 

provides automated order handling in 

designated classes for qualifying 

electronic orders that are not 

automatically executed by the System. 

Regarding HAL eligibility, the Exchange 

shall designate eligible order size, 

eligible order type, eligible order origin 

code (i.e., public customer orders, nonMarket Maker broker-dealer orders, and 

Market Maker broker-dealer orders), and 

classes in which HAL shall be activated. 

HAL shall automatically process upon 

receipt: (i) An eligible order that is 

marketable against the Exchange’s 

disseminated quotation while that 

quotation is not the national best bid or 

offer (‘‘NBBO’’), unless the Exchange’s 

quotation contains resting orders and 

does not contain sufficient MarketMaker quotation interest to satisfy the 

entire order; (ii) an eligible order that 

would improve the Exchange’s 

disseminated quotation and that is 

marketable against quotations 

disseminated by other exchanges that 

are participants in the Options Order 

Protection and Locked/Crossed Market 

Plan (the ‘‘Linkage Plan’’); or (iii) an 

order submitted to HAL as a result of 

the price check parameters of Rule 6.17. 

For order handling and responses 

regarding HAL, orders that are received 

by HAL pursuant to the paragraph above 

shall immediately upon receipt be 

electronically exposed at the NBBO 

price. The exposure shall be for a period 

of time determined by the Exchange on 

a class-by-class basis, which period of 

time shall not exceed one second. All 

Trading Permit Holders (‘‘TPHs’’) may 

submit responses to the exposure 

message during the exposure period. 

Responses (i) must be priced equal to or 

better than the Exchange’s best bid/ 

offer; (ii) must be limited to the size of 

the order being exposed; and (iii) may 

be cancelled and/or replaced any time 

during the exposure period. 

Regarding the allocation of exposed 

orders, any responses priced at the 

prevailing NBBO or better shall 

immediately trade against the order (on 

a first come, first served basis). At the 

conclusion of the exposure period, the 

Exchange will evaluate all remaining 

responses as well as the disseminated 

best bid/offer on other exchanges and 

execute any remaining portion of the 

exposed order to the fullest extent 

possible at the best price(s) by first 

executing against responses (pursuant to 

the matching algorithm in effect for the 

class except that the participation 

entitlement and market turner status 

shall not apply to responses), and, 

second, routing Immediate-or-Cancel 

(‘‘IOC’’) Intermarket Sweep Orders 

(‘‘ISOs’’) to other exchanges. Any 

portion of a routed IOC ISO that returns 

unfilled shall trade against the 

Exchange’s best bid/offer unless another 

exchange is quoting at a better price in 

which case new IOC ISOs shall be 

generated and routed to trade against 

such better prices. Any executions at the 

Exchange’s best bid/offer will first trade 

against interest that was resting at the 

price at the time the exposed order was 

received, and any remaining balance 

will trade against all new interest at that 

price (in both cases pursuant to the 

matching algorithm for that class). All 

executions on the Exchange pursuant to 

this paragraph shall comply with Rule 

6.81. Executions will be subject to price 

check parameters set forth in Rule 6.17 

when such price check functionality is 

enabled. 

Regarding the early termination of the 

exposure period, in addition to the 

receipt of a response to trade the entire 

exposed order at the NBBO or better, the 

exposure period will also terminate 

early under the following 

circumstances: (i) If during the exposure 

period the Exchange receives an 

unrelated order (or quote) on the 

opposite side of the market from the 

exposed order that could trade against 

the exposed order at the prevailing 

NBBO price or better, then the orders 

will trade at the prevailing NBBO price 

unless the unrelated order is a customer 

order in which case the orders will trade 

at the midpoint of the unrelated order’s 

limit price and the prevailing NBBO. 

The exposure period shall not terminate 

if a quantity remains on the exposed 

order after such trade; (ii) If during the 

exposure period the Exchange receives 

an unrelated order on the same side of 

the market as the exposed order that is 

priced equal to or better than the 

exposed order, then the exposure period 

shall terminate and the exposed order 

shall be processed in accordance with 

paragraph (c) (which regards allocation 

of exposed orders); (iii) If during the 

exposure of an order that is marketable 

against the Exchange’s best bid/offer at 

the time the order was exposed 

(‘‘Exchange Initial BBO’’), Market-Maker 

interest at the Exchange Initial BBO 

decrements to a contract size equal to 

the size of the exposed order, then the 

exposure period shall terminate and the 

exposed order shall be processed in 

accordance with paragraph (c) (which 

regards allocation of exposed orders). 

The purpose of the proposed change 

is to provide C2 TPHs with the 

opportunity to improve their prices and 

‘‘step up’’ to meet the NBBO in order to 

interact with orders sent to the 

Exchange. This will allow the market 

participant sending an order to C2 to 

increase its chances of receiving an 

execution at C2 (the market participant’s 

chosen venue) instead of having the 

order be routed to another exchange. 

This ‘‘step up’’ process allows market 

participants to take into account factors 

beyond just disseminated prices, such 

as execution costs, system reliability, 

and quality of service, when 

determining the exchange to which to 

route an order. A market participant that 

prefers C2 due to some combination of 

these other factors will know that, even 

if C2 is not displaying a price that is the 

NBBO, the market participant may still 

receive an execution at C2 because a C2 

TPH may ‘‘step up’’ to match the NBBO. 

Further, HAL and the ‘‘step up’’ 

process enable C2 TPHs to add liquidity 

that is available to interact with orders 

sent to the Exchange. Indeed, when a C2 

TPH ‘‘steps up’’ to match the NBBO that 

is displayed on another exchange, more 


srobinson on DSK4SPTVN1PROD with 
Federal Register / Vol. 78, No. 6 / Wednesday, January 9, 2013 / Notices 1891 

4See CBOE Rule 6.14A. 

5See Securities Exchange Act Release No. 60551 

(August 20, 2009), 74 FR 43196 (August 26, 2009) 

(SR–CBOE–2009–040). 

6For example, in adopting the Order Protection 

Rule (Rule 611) under Regulation NMS in 2005, the 

Commission stated: ‘‘The Order Protection Rule 

generally requires that trading centers match the 

best quoted prices, cancel orders without an 

execution, or route orders to the trading centers 

quoting the best prices.’’ See Securities Exchange 

Act Release No. 51808 (June 9, 2005), 70 FR 37496 

(June 29, 2005), at 37525 (S7–10–04). 

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

8 15 U.S.C. 78f(b)(5). 

9On CBOE HAL, only Market-Makers with an 

appointment in the relevant option class and 

Trading Permit Holders acting as agent for orders 

resting at the top of CBOE’s book in the relevant 

option series opposite the order submitted to CBOE 

HAL may submit responses to the exposure message 

during the exposure period (unless CBOE 

determines, on a class-by-class basis, to allow all 

TPHs to submit responses to the exposure message). 

contracts may be executed at this NBBO 

price here on C2 than are available at 

that same price on the other exchange. 

C2’s proposed HAL and the ‘‘step up’’ 

process are not novel concepts. C2’s 

proposed HAL is nearly identical to the 

Hybrid Agency Liaison (‘‘CBOE HAL’’) 

offered on the Chicago Board Options 

Exchange, Incorporated (‘‘CBOE’’), 

which provides the same manner of 

‘‘step up’’ process. There are a couple of 

differences between CBOE HAL and the 

proposed C2 HAL. First, CBOE HAL 

operates on CBOE’s Hybrid Trading 

System, which combines both open 

outcry and electronic trading, whereas 

the proposed C2 HAL would be entirely 

electronic (as C2 is an all-electronic 

exchange). The proposed C2 HAL rule 

does not incorporate the minimal CBOE 

HAL language regarding Hybrid.4

Second, on CBOE HAL, only MarketMakers with an appointment in the 

relevant option class and TPHs acting as 

agent for orders resting at the top of 

CBOE’s book in the relevant option 

series opposite the order submitted to 

CBOE HAL may submit responses to the 

exposure message during the exposure 

period (unless CBOE determines, on a 

class-by-class basis, to allow all TPHs to 

submit responses to the exposure 

message). C2 has determined that, on its 

proposed C2 HAL, all TPHs may submit 

responses to the exposure message 

during the exposure period. As such, 

Interpretation and Policy .01 to CBOE 

Rule 6.14A (the CBOE rule regarding 

HAL), which prohibits the 

redistribution of exposure messages to 

market participants not eligible to 

respond to such messages (except in 

classes in which CBOE allows all TPHs 

to respond to such messages) does not 

apply to the proposed C2 HAL, as all C2 

TPHs are permitted to respond to all 

exposure messages. Despite these 

differences, the proposed C2 HAL 

would otherwise operate in an identical 

manner to the CBOE HAL, which has 

been approved by the Securities and 

Exchange Commission (the 

‘‘Commission’’).5

The Exchange believes that the 

Commission has always been clear that 

honoring better prices on other markets 

can be accomplished by matching those 

better prices.6 The proposed HAL and a 

‘‘step up’’ process would allow C2 TPHs 

to do just that. And if a C2 market 

participant wants to ensure that an 

order does not go through the proposed 

HAL process, that market participant 

can submit an Immediate-or-Cancel 

order (which is not exposed to HAL). 

The Exchange also proposes to adopt 

Interpretation and Policy .01 to new 

Rule 6.18, which will state that the 

Exchange may determine, on a class-byclass basis, to not route ISOs to other 

exchanges on behalf of non-public 

customer orders that are exposed 

pursuant to this Rule. In such cases, any 

unexecuted balance of such non-public 

customer orders shall be cancelled at 

the conclusion of the exposure period. 

Under the Linkage Plan, the Exchange is 

not obligated to route orders to another 

exchange; the Linkage Plan only 

requires that C2 not trade through a 

better price at another exchange. In 

certain circumstances, particularly with 

orders of non-public customer market 

participants, the Exchange may elect not 

to route an order to another exchange in 

order to not incur the costs associated 

with routing such order. 

The Exchange also proposes to adopt 

Interpretation and Policy .02 to new 

Rule 6.18, which will state that all 

pronouncements regarding 

determinations by the Exchange 

pursuant to Rule 6.18 and the 

Interpretations and Policies thereunder 

will be announced to Trading Permit 

Holders via Regulatory Circular. This 

method of notification will allow the 

Exchange to promptly inform TPHs of 

any new or modification to any 

determinations made by the Exchange. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the Act 

and the rules and regulations 

thereunder applicable to the Exchange 

and, in particular, the requirements of 

Section 6(b) of the Act.7 Specifically, 

the Exchange believes the proposed rule 

change is consistent with the Section 

6(b)(5) 8 requirements that the rules of 

an exchange be designed to promote just 

and equitable principles of trade, to 

prevent fraudulent and manipulative 

acts, 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. 

Adopting HAL, a ‘‘step up’’ program, 

on C2 will provide TPHs with the 

opportunity to improve their prices to 

match the NBBO in order to interact 

with orders sent to the Exchange. This 

will allow the market participant 

sending an order to C2 to increase its 

chances of receiving an execution at C2 

(the market participant’s chosen venue) 

instead of having the order be routed to 

another exchange. This ‘‘step up’’ 

process allows market participants to 

take into account factors beyond just 

disseminated prices, such as execution 

costs, system reliability, and quality of 

service, when determining the exchange 

to which to route an order. A market 

participant that prefers C2 due to some 

combination of these other factors will 

know that, even if C2 is not displaying 

a price that is the NBBO, the market 

participant may still receive an 

execution at C2 because a C2 TPH may 

‘‘step up’’ to match the NBBO. 

Therefore, the fact that HAL allows a 

market participant who elects to send an 

order to C2 to have a greater likelihood 

of achieving execution at this chosen 

venue without the risk of paying a lower 

price removes an impediment to and 

perfects the mechanism for a free and 

open national market system. 

Further, HAL and the ‘‘step up’’ 

process enable C2 TPHs to add liquidity 

that is available to interact with orders 

sent to the Exchange. Indeed, when a C2 

TPH ‘‘steps up’’ to match the NBBO that 

is displayed on another exchange, more 

contracts may be executed at this NBBO 

price here on C2 than are available at 

that same price on the other exchange. 

This increased liquidity benefits all 

market participants on C2, thereby 

perfecting the mechanism for a free and 

open national market system and 

protecting investors and the public 

interest. 

C2’s proposed HAL is nearly identical 

to CBOE HAL, which provides the same 

manner of ‘‘step up’’ process. The only 

differences between CBOE HAL and the 

proposed C2 HAL are that (1) CBOE 

HAL operates on CBOE’s Hybrid 

Trading System, which combines both 

open outcry and electronic trading, 

whereas the proposed C2 HAL would be 

entirely electronic (as C2 is an allelectronic exchange), and (2) the 

proposed C2 HAL will be open to all C2 

TPHs.9 Despite these differences, the 

proposed C2 HAL would otherwise 

operate in an identical manner to the 

CBOE HAL, which has been approved 


srobinson on DSK4SPTVN1PROD with 
1892 Federal Register / Vol. 78, No. 6 / Wednesday, January 9, 2013 / Notices 

10See Securities Exchange Act Release No. 60551 

(August 20, 2009), 74 FR 43196 (August 26, 2009) 

(SR–CBOE–2009–040). 

11For example, in adopting the Order Protection 

Rule (Rule 611) under Regulation NMS in 2005, the 

Commission stated: ‘‘The Order Protection Rule 

generally requires that trading centers match the 

best quoted prices, cancel orders without an 

execution, or route orders to the trading centers 

quoting the best prices.’’ See Securities Exchange 

Act Release No. 51808 (June 9, 2005), 70 FR 37496 

(June 29, 2005), at 37525 (S7–10–04). 

12 15 U.S.C. 78s(b)(3)(A). 

13 17 CFR 240.19b–4(f)(6). 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

by the Commission.10 As such, C2 

merely desires to adopt a mechanism 

that is nearly identical to one that 

already exists on CBOE. Permitting C2 

to operate on an even playing field 

relative to other exchanges removes 

impediments to and to perfects the 

mechanism for a free and open market 

and a national market system. 

The Commission has always been 

clear that honoring better prices on 

other markets can be accomplished by 

matching those better prices.11 The 

proposed HAL and a ‘‘step up’’ process 

would allow C2 TPHs to do just that. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

C2 does not believe that the proposed 

rule change will impose any burden on 

competition that is not necessary or 

appropriate in furtherance of the 

purposes of the Act. The proposed C2 

HAL is open to all market participants. 

The ‘‘step-up’’ feature of the proposed 

C2 HAL allows for price improvement. 

When such price improvement is 

achieved via this ‘‘stepping up’’ to meet 

(or beat) the best quoted price at another 

exchange, market participants are able 

to receive the best quoted price while 

still achieving execution on C2, the 

exchange to which they elected to send 

their orders. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

The Exchange neither solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: 

A. significantly affect the protection 

of investors or the public interest; 

B. impose any significant burden on 

competition; and 

C. 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 12 and Rule 19b–4(f)(6) 13

thereunder. 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. 

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–C2–2012–043 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–C2–2012–043. 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 NW., 

Washington, DC 20549, on official 

business days between the hours of 

10:00 a.m. and 3:00 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 Number SR–C2– 

2012–043, and should be submitted on 

or before January 30, 2013. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Kevin M. O’Neill, 

Deputy Secretary. 

[FR Doc. 2013–00200 Filed 1–8–13; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–68488; File No. SR– 

NYSEArca–2012–142] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change To List and Trade the 

Guggenheim Enhanced Total Return 

ETF Under NYSE Arca Equities Rule 

8.600 

December 20, 2012. 

Correction 

In notice document 2012–31120 

appearing on pages 76326–76332 in the 

issue of December 27, 2012, the File No. 

is corrected to read as set forth above. 

[FR Doc. C1–2012–31120 Filed 1–8–13; 8:45 am] 

BILLING CODE 1505–01–D 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–68575; File No. SR–BOX– 

2012–024] 

Self-Regulatory Organizations; BOX 

Options Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

a Proposed Rule Change To Amend 

the Fee Schedule for Trading on BOX 

January 3, 2013. 

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 December 

21, 2012, BOX Options Exchange LLC 

(the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I, II, and 

III below, which Items have been 

prepared by the Exchange. The 

Exchange filed the proposed rule change 

pursuant to Section 19(b)(3)(A)(ii) of the 


srobinson on DSK4SPTVN1PROD with