9012 Federal Register / Vol. 74, No. 38 / Friday, February 27, 2009 / Notices 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 59211 

(January 7, 2009), 74 FR 1734 (January 13, 2009). 

4See Securities Exchange Act Release No. 58932 

(November 12, 2008), 73 FR 69696 (November 19, 

2008) (SR–FINRA–2008–032) (changing the term 

‘‘Registered Options and Security Futures 

Principal’’ to ‘‘Registered Options Principal’’). See 

also Securities Exchange Act Release No. 58129 

(July 9, 2008), 73 FR 40895 (SR–ISE–2008–21); 

Securities Exchange Act Release No. 57738 (April 

29, 2008), 73 FR 25805 (May 7, 2008) (SR–Amex– 

2007–129); and Securities Exchange Act Release 

No. 56971 (December 14, 2007), 72 FR 72804 

(December 21, 2007) (SR–CBOE–2007–106) 

(approving elimination of the positions and titles of 

Senior Registered Options Principal and 

Compliance Registered Options Principal). 

5See Securities Exchange Act Release No. 58980 

(November 19, 2008), 73 FR 72091 (November 26, 

2008) (SR–CBOE–2008–61). See also Securities 

Exchange Act Release No. 58932 (November 12, 

2008), 73 FR 69696 (November 19, 2008) (SR– 

FINRA–2008–032) (approving change clarifying 

confirmation disclosure requirements). 

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

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

Dated: February 23, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4184 Filed 2–26–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Proposed Collection; Comment 

Request 

Upon written request, copies available 

from: Securities and Exchange 

Commission, Office of Investor 

Education and Advocacy, 

Washington, DC 20549–0213. 

Extension: Form F–10; OMB Control No. 

3235–0380; SEC File No. 270–334. 

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’’) is soliciting comments 

on the collection of information 

summarized below. The Commission 

plans to submit this existing collection 

of information to the Office of 

Management Budget for extension and 

approval. 

Form F–10 (17 CFR 239.40) is a 

registration statement under the 

Securities Act of 1933 (15 U.S.C. 77a et 

seq.) that is used by certain Canadian 

‘‘substantial issuers’’ (those issuers with 

at least 36 calendar months of reporting 

history with a securities commission in 

Canada and a market value of common 

stock of at least C$360 million and an 

aggregate market value of common stock 

held by non-affiliates of at least C$75 

million). The purpose of the information 

collection is to facilitate cross-border 

offerings by specified Canadian issuers. 

We estimate that Form F–10 takes 25 

hours per response and is filed by 75 

respondents. We further estimate that 

25% of the 25 hours per response (6.25 

hours) is prepared by the issuer for an 

annual reporting burden of 469 hours 

(6.25 hours per response × 78 

responses). 

Written comments are invited on: (a) 

Whether this proposed collections of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information will have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden imposed by the collection 

of information; (c) ways to enhance the 

quality, utility, and clarity of the 

information collected; and (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology. Consideration will be given 

to comments and suggestions submitted 

in writing within 60 days of this 

publication. 

Please direct your written comments 

to 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. 

Dated: February 23, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4185 Filed 2–26–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59434; File No. SR–BSE– 

2008–56] 

Self-Regulatory Organizations; Boston 

Stock Exchange, Inc.; Order Granting 

Approval of Proposed Rule Change 

Relating to BOX Rules Governing 

Doing Business With the Public 

February 23, 2009. 

On December 9, 2008, the Boston 

Stock Exchange, Inc. (‘‘BSE’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) a proposed rule change 

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

Securities Exchange Act of 1934 

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

The proposed rule change was 

published for comment in the Federal 

Register on January 13, 2009.3 The 

Commission received no comments on 

the proposed rule change. This order 

approves the proposed rule change. 

I. Description of the Proposed Rule 

Change 

The Exchange proposed to amend 

Chapter XI of the Boston Options 

Exchange (‘‘BOX’’) Rules by replacing 

the term ‘‘Registered Options and 

Security Futures Principal’’ (‘‘ROSFP’’) 

with ‘‘Registered Options Principal’’ 

(‘‘ROP’’). Although ROP was recently 

changed to ROSFP in the BOX Rules, 

the Exchange believes that the change 

from ROP to ROSFP may have created 

confusion among BOX participants, and 

that reverting to ROP will alleviate this 

confusion. Furthermore, the Exchange 

believes that reverting to ROP will 

provide consistency with the rules of 

other options exchanges, most of which 

use ROP rather than ROSFP.4 The 

Exchange notes that the reversion to 

ROP does not affect the qualifications 

required to transact options business 

with the public. 

The Exchange also proposed 

amending Chapter XI, Section 13 of the 

BOX Rules to clarify that an options 

confirmation need not disclose the 

exchange or exchanges on which an 

options transaction is executed. The 

rule will continue to require that written 

confirmations contain a description of 

each transaction in the options contract, 

the underlying security, the type of 

option, the option expiration month, 

exercise price, number of option 

contracts, premium, commissions, date 

of transaction and settlement date, and 

shall indicate whether the transaction is 

a purchase or sale and whether a 

principal or agency transaction. The 

confirmation shall also distinguish by 

appropriate symbols between Exchange 

transactions and other transactions in 

options contracts. This change will 

maintain consistency with other 

exchanges which have recently filed 

similar rule proposals.5

Lastly, the Exchange proposed 

elimination of the definition of ‘‘closing 

purchase transaction’’ as defined in 

Chapter I, Section 1 of the BOX Rules. 

The term ‘‘closing purchase transaction’’ 

does not appear in any other provision 

of the BOX Rules. Therefore, the 

definition is unnecessary. 

II. Discussion and Findings 

After careful review of the proposed 

rule change, the Commission finds that 

the proposed rule change is consistent 

with the requirements of Section 6(b) of 

the Act,6 in general, and Section 6(b)(5) 

of the Act,7 in particular, in that it is 

designed to promote just and equitable 

principles of trade, facilitate 

transactions in securities, remove 


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Federal Register / Vol. 74, No. 38 / Friday, February 27, 2009 / Notices 9013 

8 In approving this proposal, the Commission has 

considered the proposed rule change’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 17c(f). 

9 15 U.S.C. 78s(b)(2). 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 58817 

(October 20, 2008), 73 FR 63744 (October 27, 2008). 

The ORF is $.0045 per contract and is assessed to 

each member for all options transactions executed 

by the member that are cleared by The Options 

Clearing Corporation (‘‘OCC’’) in the customer range 

(i.e., that clear in a customer account at OCC), 

excluding Options Intermarket Linkage Plan 

(‘‘Linkage’’) orders. The ORF is imposed upon all 

such transactions executed by a member, even if 

such transactions do not take place on the 

Exchange. The ORF is collected indirectly from 

members through their clearing firms by OCC on 

behalf of the Exchange. 

4See Securities Exchange Act Release No. 59182 

(December 30, 2008), 74 FR 730 (January 7, 2009), 

and Securities Exchange Act Release No. 59355 

(February 3, 2009), 74 FR 6677 (February 10, 2009). 

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

6 15 U.S.C. 78f(b)(4). 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and 

protect investors and the public 

interest.8 The Commission believes that 

the proposal is consistent with Section 

6(b)(5) of the Exchange Act because the 

proposed rule change will clarify the 

use of certain terms consistent with 

their use by other self-regulatory 

organizations, and also will clarify the 

Exchange’s options confirmation 

procedure rules. 

III. Conclusion 

It is therefore ordered, pursuant to 

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

proposed rule change (SR–BSE–2008– 

56) be, and hereby is, approved.9

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4183 Filed 2–26–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59427; File No. SR–CBOE– 

2009–008] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to the Options 

Regulatory Fee 

February 20, 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 February 

18, 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 CBOE. 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 

Chicago Board Options Exchange, 

Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) 

proposes to amend its Fees Schedule 

relating to the Options Regulatory Fee. 

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. 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 

(a) Purpose 

In October 2008, the Exchange filed a 

proposed rule change to eliminate 

Registered Representative Fees and 

establish a transaction-based ‘‘Options 

Regulatory Fee’’ (‘‘ORF’’).3 The ORF was 

to be effective January 1, 2009. In 

December 2008 and January 2009, the 

Exchange filed proposed rule changes 

waiving the ORF for January and 

February, to allow additional time for 

the Exchange, the Options Clearing 

Corporation (‘‘OCC’’) and firms to put in 

place appropriate procedures to 

implement the fee.4

The Exchange has reevaluated the 

current amount of the ORF in light of 

the waiver of the ORF for the first two 

months of 2009 and recent volume 

levels. The Exchange has determined 

that it would experience a regulatory 

revenue shortfall for 2009 if the ORF 

remained at $.0045 per contract. To 

avoid a regulatory revenue shortfall for 

2009, the Exchange proposes to change 

the ORF from $.0045 per contract to 

$.006 per contract. The amount of the 

ORF will be one-cent in the case of a 

one-contract trade, i.e., there is a 

minimum one-cent charge per trade. 

The Exchange represents that the 

proposed new ORF rate would generate 

approximately the same amount of 

revenue for calendar year 2009 that 

would have been generated by the 

current ORF if the ORF had not been 

waived for two months. 

As stated in its rule filing establishing 

the ORF, the Exchange will monitor the 

amount of revenue collected from the 

ORF to ensure that it, in combination 

with its other regulatory fees and fines, 

does not exceed regulatory costs. The 

Exchange expects to monitor regulatory 

costs and revenues at a minimum on an 

annual basis. If the Exchange 

determines regulatory revenues exceed 

regulatory costs, the Exchange would 

adjust the ORF by submitting a fee 

change filing to the Commission. The 

Exchange will notify members of 

adjustments to the ORF via regulatory 

circular. 

The Exchange also proposes to delete 

references to Registered Representative 

fees from Section 12 of the Fees 

Schedule. All of the proposed rule 

changes will become operative on 

March 1, 2009. 

(b) Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Securities Exchange Act of 

1934 (‘‘Act’’) 5, in general, and furthers 

the objectives of Section 6(b)(4) 6 of the 

Act in particular, in that it is designed 

to provide for the equitable allocation of 

reasonable dues, fees, and other charges 

among its members and other persons 

using its facilities. The Exchange 

believes the revised ORF is reasonable 

because it relates to the recovery of the 

costs of supervising and regulating 

members and it is expected to generate 

approximately the same amount of 

revenue for calendar year 2009 that 

would have been generated by the 

current ORF if the ORF had not been 

waived for the first two months of 2009. 


rwilkins on PROD1PC63 with NOTICES2