9320 Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices 

14This estimate is based on the following 

calculations: (100,000 transaction requests × 

0.0025¢ = $250); ($250 × 52 weeks = $13,000). 

15This estimate is based on the following 

calculation: (680 fund groups × $43,000 = 

$29,240,000). 

16This estimate is based on the following 

estimate: ($100,000 × 22 new fund groups = 

$2,200,000). 

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

2 17 CFR 240.19b–4. 

intermediaries have had to develop and 

maintain information sharing, 

monitoring, and order execution 

systems (collectively ‘‘information 

sharing systems’’). 

In general, the staff estimates that the 

typical charges involved in operating 

and maintaining information sharing 

systems average 25 cents for every 100 

account transactions requested. The 

Commission staff estimates that, on 

average, each fund group requests 

information for 100,000 transactions 

each week, incurring costs of $250 

weekly, or $13,000 a year.14 In addition, 

the Commission staff estimates that 

funds pay access fees to use these 

information sharing systems (or 

comparable internal costs) of 

approximately $30,000 each year. The 

Commission staff therefore estimates 

that a fund group would typically incur 

approximately $43,000 in costs each 

year related to the operation and 

maintenance of information sharing 

systems required by rule 22c–2. The 

Commission staff has previously 

estimated that there are approximately 

680 fund groups currently active, and 

therefore estimates that all fund groups 

incur a total of $29,240,000 in ongoing 

costs each year related to maintaining 

and operating information sharing 

systems.15

Commission staff estimates that it 

requires approximately $100,000 to 

purchase or develop and implement 

such an information sharing system for 

the first time. Commission staff has 

previously estimated that approximately 

22 funds or fund groups are formed each 

year managed by new advisers, and 

therefore estimates that all these funds 

would incur total costs of approximately 

$2,200,000.16

Responses provided to the 

Commission will be accorded the same 

level of confidentiality accorded to 

other responses provided to the 

Commission in the context of its 

examination and oversight program. 

Responses provided in the context of 

the Commission’s examination and 

oversight program are generally kept 

confidential. Complying with the 

information collections of rule 22c–2 is 

mandatory for funds that redeem their 

shares within 7 days of purchase. 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. 

Please direct general comments 

regarding the above information to the 

following persons: (i) Desk Officer for 

the Securities and Exchange 

Commission, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503 

or send an e-mail 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, 

VA 22312; or send an e-mail to: 

PRA_Mailbox@sec.gov. Comments must 

be submitted to OMB within 30 days of 

this notice. 

Dated: February 25, 2009. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4425 Filed 3–2–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

In the Matter of Cincinnati Microwave, 

Inc., Core Technologies Pennsylvania, 

Inc., First Central Financial Corp., 

Imark Technologies, Inc. (n/k/a Pharm 

Control Ltd.), Molten Metal 

Technology, Inc., MRS Technology, 

Inc., Sun Television & Appliances, Inc., 

and Telegroup, Inc.; File No. 500–1; 

Order of Suspension of Trading 

February 27, 2009. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Cincinnati 

Microwave, Inc. because it has not filed 

any periodic reports since the period 

ended September 29, 1996. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Core 

Technologies Pennsylvania, Inc. 

because it has not filed any periodic 

reports since the period ended 

September 30, 1998, except for a Form 

10–Q it filed for the period ended 

September 30, 2008. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of First Central 

Financial Corp. because it has not filed 

any periodic reports since the period 

ended June 30, 1997. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Imark 

Technologies, Inc. (n/k/a Pharm Control 

Ltd.) because it has not filed any 

periodic reports since the period ended 

March 31, 1998. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Molten 

Metal Technology, Inc. because it has 

not filed any periodic reports since the 

period ended September 30, 1997. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of MRS 

Technology, Inc. because it has not filed 

any periodic reports since the period 

ended September 30, 1998. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Sun 

Television & Appliances, Inc. because it 

has not filed any periodic reports since 

the period ended November 28, 1998. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Telegroup, 

Inc. because it has not filed any periodic 

reports since the period ended 

September 30, 1998. 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of the above-listed 

companies. 

Therefore, it is ordered, pursuant to 

Section 12(k) of the Securities Exchange 

Act of 1934, that trading in the 

securities of the above-listed companies 

is suspended for the period from 9:30 

a.m. EST on February 27, 2009, through 

11:59 p.m. EDT on March 12, 2009. 

By the Commission. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–4594 Filed 2–27–09; 4:15 pm] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59448; File No. SR–CBOE– 

2009–011] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Related to the Simple 

Auction Liaison (SAL) 

February 25, 2009. 

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

Securities Exchange Act of 1934 (the 

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

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices 9321 

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

4 17 CFR 240.19b–4(f)(6). 

5With respect to SAL eligibility, the Exchange 

designates the eligible order size, eligible order 

type, eligible order origin code (i.e., public 

customer orders, non-Member Maker broker-dealer 

orders, and Market Maker broker-dealer orders), and 

classes in which SAL is activated. 

6HAL is a feature within the Hybrid System that 

provides automated order handing in designated 

classes trading on Hybrid for qualifying electronic 

orders that are not automatically executed by the 

Hybrid System. In Hybrid 3.0 Classes that are 

singly-listed, HAL automatically processes upon 

receipt, eligible limit orders that would improve the 

Exchange’s disseminated quotations except when 

the disseminated quotation is represented by a 

manual quote in which case the order will 

automatically route to the electronic book instead 

of being processed by HAL and the manual quote 

will be cancelled. 

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

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

notice is hereby given that on February 

20, 2009, the Chicago Board Options 

Exchange, Incorporated (‘‘Exchange’’ or 

‘‘CBOE’’) 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 proposal as a ‘‘noncontroversial’’ proposed rule change 

pursuant to Section 19(b)(3)(A)(iii) of 

the Act 3 and Rule 19b–4(f)(6) 

thereunder.4 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 modify 

Rule 6.13A, Simple Auction Liaison 

(SAL), so that SAL will be available 

when the size of the agency order is 

larger than the disseminated MarketMaker quotation size on the opposite 

side of the market in Hybrid 3.0 classes. 

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. 

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 

self-regulatory organization 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 those 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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

SAL is a feature within CBOE’s 

Hybrid System that auctions marketable 

orders for price improvement over the 

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

Currently, SAL automatically initiates 

an auction process for any SAL-eligible 

order 5 that is eligible for automatic 

execution by the Hybrid System (an 

‘‘agency order’’) pursuant to Rule 6.13, 

CBOE Hybrid System’s Automatic 

Execution Feature, except when the 

Exchange’s disseminated quotation on 

the opposite side of the market from the 

agency order does not contain sufficient 

Market-Maker quotation size to satisfy 

the entire Agency Order. Prior to 

commencing the auction, SAL stops the 

agency order at the NBBO against 

Market-Maker quotations displayed at 

the NBBO on the opposite side of the 

market as the agency order. For 

example, if an otherwise eligible agency 

order for 120 contracts is entered and 

the disseminated quotation size is 100, 

SAL will not initiate an auction process. 

On the other hand, if an eligible agency 

order for 100 contracts is entered and 

the disseminated quotation size is 100, 

SAL will stop the entire agency order at 

the NBBO against the disseminated 

quotation size of 100 while SAL 

initiates an auction for price 

improvement over the NBBO. 

In order to offer additional 

opportunities for price improvement in 

Hybrid 3.0 classes that are singly-listed 

(which currently only includes options 

on the Standard and Poor’s 500 Index, 

SPX), we propose to modify the process 

so that SAL will operate in instances 

where the agency order size exceeds the 

disseminated Market-Maker quotation 

size. In such instances, the order would 

be stopped to the extent of the 

disseminated Market-Maker quotation 

size. To the extent an order exceeds the 

disseminated Market-Maker quotation 

size, a stop is not necessary and will not 

be applied. Thus, using our example 

above, if an eligible agency order for 120 

contracts is entered in a Hybrid 3.0 class 

and the disseminated quotation size is 

100, SAL will partially stop the agency 

order at the NBBO against the 

disseminated quotation size of 100 (the 

remaining 20 contracts will not be 

stopped) while SAL initiates an auction 

for price improvement over the NBBO 

for the entire 120 contract order. After 

expiration of the SAL auction, the order 

will execute to the extent possible in 

accordance with the matching algorithm 

in effect for SAL executions in the 

Hybrid 3.0 class. If there is any 

remainder and the order is a market 

order, the remainder would trade with 

the book at the next price level(s). If 

there is any remainder that is not 

executable and the order is a limit order, 

and if the Hybrid Agency Liaison 

(‘‘HAL’’) is activated for the class 

pursuant to Rule 6.14, that remainder 

will HAL.6 If HAL is not active, any 

remainder of the limit order will book. 

The Exchange believes this change 

would allow for additional 

opportunities for price improvement to 

orders that would otherwise not be 

eligible for SAL. All other provisions of 

the SAL rule would apply unchanged. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Act 7 in general and furthers 

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

Act 8 in particular in that it is designed 

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. In particular, the 

Exchange believes that the proposed 

change would give additional 

opportunities to provide orders 

executions at improved prices. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE 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 

The Exchange neither solicited nor 

received comments on the proposal. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing rule 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 if consistent 

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9322 Federal Register / Vol. 74, No. 40 / Tuesday, March 3, 2009 / Notices 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). The Commission notes 

that CBOE has satisfied this 5-day requirement. 

11 17 CFR 200.30–3(a)(12). 

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

with the protection of investors and the 

public interest, provided that the selfregulatory organization has given 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, the proposed rule change 

has become effective pursuant to 

Section 19(b)(3)(A) of the Act 9 and Rule 

19b–4(f)(6) thereunder.10 At any time 

within 60 days of the filing of such 

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–CBOE–2009–011 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–CBOE–2009–011. 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 

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 CBOE. 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–CBOE–2009–011 and 

should be submitted on or before March 

24, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4428 Filed 3–2–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59441; File No. 10–191] 

C2 Options Exchange, Incorporated; 

Notice of Filing of Application for 

Registration as a National Securities 

Exchange Under Section 6 of the 

Securities Exchange Act of 1934 

February 24, 2009. 

On January 21, 2009, C2 Options 

Exchange, Incorporated (‘‘C2’’) 

submitted to the Securities and 

Exchange Commission (‘‘Commission’’) 

a Form 1 application under the 

Securities Exchange Act of 1934 

(‘‘Exchange Act’’), seeking registration 

as a national securities exchange under 

Section 6 of the Exchange Act. The 

Commission is publishing this notice to 

solicit comments on C2’s Form 1. The 

Commission will take these comments 

into consideration in making its 

determination about whether to grant 

C2’s request to be registered as a 

national securities exchange. The 

Commission shall grant such 

registration if it finds that the 

requirements of the Exchange Act and 

the rules and regulations thereunder 

with respect to C2 are satisfied.1

C2’s Form 1 provides detailed 

information on its proposed structure 

and how it proposes to satisfy the 

requirements of the Exchange Act. In 

particular, C2 would be owned by its 

parent company, the Chicago Board 

Options Exchange, Incorporated 

(‘‘CBOE’’), but would operate as a 

separate self-regulatory organization 

under its own exchange license. The 

incorporator of C2 would appoint C2’s 

initial Board of Directors, which would 

be comprised of the same individuals 

who are then serving as the board of 

directors of CBOE. As specified in the 

proposed Certificate of Incorporation, 

shortly after trading commences, C2 

would undertake a petition process by 

which Trading Permit Holders could 

elect Representative Directors to the 

Board. 

Access to C2 would be available 

through trading permits. All CBOE 

members in good standing would be 

eligible to receive a C2 trading permit 

upon completion of a streamlined 

application process, while non-CBOE 

members could apply for a C2 trading 

permit in a manner similar to the 

current process for firms applying for 

membership on CBOE. 

C2 would operate an all-electronic 

marketplace for the trading of listed 

options and would not maintain a 

physical trading floor. Liquidity on C2 

would be derived from orders to buy 

and orders to sell submitted 

electronically by trading permit holders 

or their sponsored participants from 

remote locations, as well as from market 

makers, which would have certain 

affirmative and negative market making 

obligations. 

C2’s Form 1 is available at the 

Commission’s Public Reference Room 

and http://www.sec.gov. Interested 

persons are invited to submit written 

data, views, and arguments concerning 

C2’s Form 1, including whether C2’s 

application is consistent with the 

Exchange Act. Among other things, the 

Commission requests comments on C2’s 

proposed governance and Board 

composition. Comments may be 

submitted by any of the following 

methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/other.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number 10–191 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number 10–191. This file number 

mstockstill on PROD1PC66 with NOTICES