Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Notices 9461 

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

16 17 CFR 240.19b–4(f)(6). 

17 17 CFR 240.19b–4(f)(6)(iii). 

18For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78c(f). 

19 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6). 

efficient regulatory compliance for Dual 

Members. 

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 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 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The Exchange believes that the 

proposal qualifies for immediate 

effectiveness upon filing as a noncontroversial rule change in accordance 

with Section 19(b)(3)(A) of the Act 15

and Rule 19b–4(f)(6) 16 thereunder. The 

Exchange asserts that the proposed rule 

change (i) Will not significantly affect 

the protection of investors or the public 

interest, (ii) will not impose any 

significant burden on competition, and 

(iii) by its terms, will not become 

operative for 30 days after the date of 

this filing, or such shorter time as the 

Commission may designate, if 

consistent with the protection of 

investors and the public interest. In 

addition, the Exchange provided the 

Commission with 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. 

A proposed rule change filed under 

Rule 19b–4(f)(6) normally does not 

become operative prior to 30 days after 

the date of the filing. However, pursuant 

to Rule19b–4(f)(6)(iii),17 the 

Commission may designate a shorter 

time if such action is consistent with the 

protection of investors and the public 

interest. The Exchange has asked the 

Commission to waive the 30-day 

operative delay so that the proposal may 

become operative immediately upon 

filing. The Exchange believes the waiver 

of this period will allow it to conform 

its rule to the FINRA NYSE 

Incorporated Rule without delay and 

ensure that there is no regulatory gap 

among those rules. The Commission has 

determined that waiving the 30-day 

operative delay of the Exchange’s 

proposal is consistent with the 

protection of investors and the public 

interest because such waiver will allow 

the Exchange to promptly conform its 

rules to the FINRA NYSE Incorporated 

Rule and ensure elimination of any 

potential regulatory gap.18 Therefore, 

the Commission designates the proposal 

as operative upon filing. At any time 

within 60 days of the filing of the 

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–NYSE–2009–14 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Securities and 

Exchange Commission, 100 F Street, 

NE., Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSE–2009–14. 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 20549–1090. Copies of the filing will 

also be available for inspection and 

copying at the NYSE’s principal office 

and on its Internet Web site at http:// 

www.nyse.com. 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–NYSE– 

2009–14 and should be submitted on or 

before March 25, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4557 Filed 3–3–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59454; File No. SR– 

NYSEALTR–2009–17] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Alternext U.S. LLC To Delete Certain 

Rules Governing the Trading of Listed 

Options 

February 25, 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 

23, 2009, NYSE Alternext US LLC (the 

‘‘Exchange’’ or ‘‘NYSE Alternext’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been prepared by the Exchange. The 

Exchange filed the proposed rule change 

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

Act 3 and Rule 19b–4(f)(6) thereunder,4

which renders it 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 

The Exchange proposes to delete old 

rules governing the trading of listed 

9462 Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Notices 

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

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to submit to 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. 

9The implementation of the new trading system 

and opening of the new Options Trading Floor are 

currently scheduled for March 2, 2009, pending 

approval of SR–NYSEALTR–2008–14. 

10For purposes only of waiving the operative date 

of this proposal, the Commission has considered 

the proposed rule’s impact on efficiency, 

competition, and capital formation. See 15 U.S.C. 

78c(f). 

options which are being replaced by 

rules identified in a separate filing, SRNYSEALTR–2008–14, which proposes 

new Section 900NY. The old rules will 

no longer apply upon a) the 

implementation of a new trading 

platform for options, NYSE Amex 

System (‘‘System’’) and b) relocation of 

the Trading Floor to 11 Wall Street, New 

York, NY. The text of the proposed rule 

change is available on the Exchange’s 

Web site at http://www.nyse.com, at the 

Exchange’s principal office, 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 

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 

In a separate filing, SR–NYSEALTR– 

2008–14, the Exchange has proposed 

rules to introduce a modern electronic 

trading platform to support options 

trading, and in addition, proposes to 

update and reorganize open outcry 

trading at the time of the migration to 

the new platform and the move to a new 

Options Trading Floor at 11 Wall Street, 

New York, NY. The new rule set is 

proposed as Section 900NY. 

Rule Section 900NY will replace 

certain existing NYSE Alternext Rules. 

These are, under General Rules, Rule 1, 

Hours of Business; Rule 2, Visitors; Rule 

21, Appointment of the Senior 

Supervisory Officer, Senior Floor 

Officials, Exchange Officials and Floor 

Officials; Rule 21, Authority of Floor 

Officials; Rule 27A, Allocation of 

Options; Rule 170, Registration and 

Functions of Specialists; Rule 171, 

Specialist Financial Requirements; Rule 

172, Relief and Temporary Specialists; 

Rule 173, Relief and Temporary 

Specialist Financial Requirements; Rule 

174, Disclosures by Specialists 

Prohibited; Rule 175, Specialist 

Prohibitions. Under Trading of Options 

Contracts, the superseded Rules are, in 

Section 1, Rule 900, Applicability 

Definitions and References; in Section 2, 

Rule 918, Trading Rotations, Halts, and 

Suspensions; in Section 3, Rule 933, 

Automatic Execution of Options Orders; 

Rule 934, Limitation on Orders; Rule 

936, Cancellation and Adjustment of 

Equity Options Transactions; in Section 

4, Rule 941, Operation of the Linkage; 

Rule 942, Order Protection; Rule 943, 

Locked Markets; Rule 944, Limitation 

on Principal Order Access. 

Additionally, Section 900NY will 

replace, in Section 5—Floor Rules 

Applicable to Options, Rule 950, Rules 

of General Applicability; Rule 951, 

Premium Bids and Offers; Rule 952, 

Minimum Price Variations; Rule 953, 

Acceptance of Bid or Offer; Rule 954, 

Units of Trading; Rule 955, Floor 

Reports of Exchange Options 

Transactions; Rule 956, Open Orders on 

‘‘Ex Date’’; Rule 957, Accounts, Orders 

and Records of Registered Traders, 

Designated NYSE Alternext Remote 

Traders, Specialists and Associated 

Persons; Rule 958, Options Transactions 

of Registered Traders; Rule 958A, 

Application of the Firm Quote Rule, 

Rule 959, Accommodation Transactions; 

in Section 9, Rule 992, Exchange 

Options Market Data System; in Section 

11—Stock Index Options, Rule 918C, 

Trading Rotations, Halts and 

Suspensions; and in ANTE Rules, all 

Rules (Rule 900 –ANTE through Rule 

997–ANTE). 

This filing seeks to remove these 

replaced Rules from the NYSE Alternext 

US LLC Rulebook upon implementation 

of the new NYSE Amex Options trading 

system and the opening of the new 

Trading Floor at 11 Wall Street. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 5 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’), in general, and furthers the 

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

particular in that it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, and to remove 

impediments to and perfect the 

mechanisms of a free and open market 

and a national market system. 

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 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 

No written comments were solicited 

or received with respect to 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: 

(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 with the 

protection of investors and the public 

interest, it has become effective 

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

Act 7 and Rule 19b–4(f)(6) thereunder.8

The Exchange has requested that the 

Commission waive the 30-day operative 

delay to the extent that such action is 

necessary to make the proposed rule 

change operative upon implementation 

of the new NYSE Amex Options trading 

system and the opening of the new 

Options Trading Floor at 11 Wall 

Street.9 The Commission hereby grants 

the Exchange’s request and believes that 

such action is consistent with the 

protection of investors and the public 

interest.10 If the Commission approves 

SR–NYSEALTR–2008–14, it will be 

necessary for this proposed rule change 

to become operative simultaneously 

with the operative date of the new rules 

proposed in SR–NYSEALTR–2008–14. 

Otherwise, the Exchange would have 

conflicting rules on its books. Therefore, 

the Commission waives any part of the 

30-day period in connection with this 

filing that is necessary to make the two 

filings operative simultaneously. The 

Federal Register / Vol. 74, No. 41 / Wednesday, March 4, 2009 / Notices 9463 

11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

Commission notes, however, that its 

action in this matter is without 

prejudice to any action it may take with 

respect to SR–NYSEALTR–2008–14. 

At any time within 60 days of the 

filing of the 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–NYSEALTR–2009–17 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–NYSEALTR–2009–17. 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 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 Number SR– 

NYSEALTR–2009–17 and should be 

submitted on or before March 25, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–4562 Filed 3–3–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59453; File No. SR– 

NYSEArca–2009–09] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Arca, Inc. To Adopt a Policy Relating 

to its Treatment of Trade Reports That 

it Determines To Be Inconsistent With 

the Prevailing Market 

February 25, 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 

9, 2009, NYSE Arca, Inc. (‘‘NYSE Arca’’ 

or ‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘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 this proposal eligible for 

immediate effectiveness pursuant to 

Exchange Act Rule 19b–4(f)(6). The 

Commission is publishing this notice to 

solicit comments on the proposal from 

interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

NYSE Arca, Inc. (the ‘‘Exchange’’), 

through its wholly-owned subsidiary 

NYSE Arca Equities, Inc. (‘‘NYSE Arca 

Equities’’), proposes to adopt a policy 

relating to its treatment of trade reports 

that it determines to be inconsistent 

with the prevailing market. 

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 III 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 

Trades in listed securities 

occasionally occur at prices that deviate 

significantly from prevailing market 

prices and those trades sometimes 

establish a high, low or last sale price 

for a security that does not reflect the 

true market for the security. 

The Consolidated Tape Association 

(‘‘CTA’’) offers each Participant in the 

CTA Plan the discretion to append an 

indicator (an ‘‘Aberrant Report 

Indicator’’) to a trade report to indicate 

that the market believes that the trade 

price in a trade executed on that market 

does not accurately reflect the 

prevailing market for the security. The 

CTA recommends that data recipients 

should exclude the price of any trade to 

which the Aberrant Report Indicator has 

been appended from any calculation of 

the high, low and last sale prices for the 

security. 

During the course of surveillance by 

the Exchange or as a result of 

notification by another market, listed 

company or market participant, the 

Exchange may become aware of trade 

prices that do not accurately reflect the 

prevailing market for a security. In such 

a case, the Exchange proposes to adopt 

as policies that it: 

• May determine to append an 

Aberrant Report Indicator to any trade 

report with respect to any trade 

executed on the Exchange that the 

Exchange determines to be inconsistent 

with the prevailing market; and 

• Shall discourage vendors and other 

data recipients from using prices to 

which the Exchange has appended the 

Aberrant Report Indicator in any 

calculation of the high, low or last sale 

price of a security. 

The Exchange will urge vendors to 

disclose the exclusion from high, low or 

last sale price data of any aberrant 

trades excluded from high, low or last 

sale price information they disseminate 

and to provide to data users an 

explanation of the parameters used in 

the Exchange’s aberrant trade policy. 

Upon initial adoption of the Aberrant 

Report Indicator, the Exchange will also