11982 Federal Register / Vol. 74, No. 53 / Friday, March 20, 2009 / Notices 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(2). 

5 15 U.S.C. 78s(b)(3)(A)(ii). 

6 17 CFR 240.19b–4(f)(2). 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552(b)(c)(5), (7) and (10) and 17 

CFR 200.402(a)(5), (7) and (10) permit 

consideration of the scheduled matter at 

the closed meeting. 

Commissioner Aguilar, as duty 

officer, determined that Commission 

business required the above change and 

that no earlier notice thereof was 

possible. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. For further 

information and to ascertain what, if 

any, matters have been added, deleted 

or postponed, please contact the Office 

of the Secretary at (202) 551–5400. 

Dated: March 17, 2009. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–6192 Filed 3–18–09; 4:15 pm] 

BILLING CODE 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59576; File No. SR–ISE– 

2009–07] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to Options Fee 

Changes 

March 13, 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 

20, 2009, the International Securities 

Exchange, LLC (the ‘‘Exchange’’ or the 

‘‘ISE’’) 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 the selfregulatory organization. The Exchange 

has designated this proposal as one 

establishing or changing a due, fee, or 

other charge imposed by ISE under 

Section 19(b)(3)(A)(ii) of the Act 3 and 

Rule 19b–4(f)(2) thereunder,4 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 

The ISE is proposing to amend its 

Schedule of Fees to adopt three fee 

changes. The text of the proposed rule 

change is available on the Exchange’s 

Web site (http://www.ise.com), at the 

principal office of the Exchange, 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 these statements may be examined at 

the places specified in Item IV below. 

The self-regulatory organization 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 this proposed rule 

change is to adopt three fee changes. 

These changes will be operative on 

March 2, 2009. 

Customer orders for Complex Orders 

that take liquidity from the complex 

order book: ISE currently charges $0.18 

per contract to members for customer 

orders that take liquidity from the 

complex order book. This fee does not 

apply until a member executes, on a 

monthly basis, 15,000 spread contracts 

that take liquidity from the complex 

order book. Once a member executes 

15,000 spread contracts that take 

liquidity from the complex order book, 

this fee is assessed on all of the 

incremental spread contracts that take 

liquidity from the complex order book 

executed by the member during the 

month. ISE proposes to increase this fee 

to $0.20 per contract to align it with fees 

for similar types of proprietary trading. 

Customer orders entered in response 

to special order broadcasts: ISE 

currently charges $0.18 per contract for 

transactions that result from customer 

orders that are entered as responses to 

special order broadcasts. Special order 

broadcasts are sent to members when 

certain types of orders are entered, such 

as facilitation orders, solicitation orders, 

block orders, and Price Improvement 

Mechanism orders. ISE similarly 

proposes to increase this fee to $0.20 per 

contract to align it with firm proprietary 

trading fees. 

Non-ISE Market Maker (FARMM) fee 

discount for special orders: ISE 

currently charges a transaction fee of 

$0.45 per contract for FARMM orders. 

FARMM orders are orders that are sent 

to the Exchange by an Electronic Access 

Member on behalf of non-ISE market 

makers. In order to encourage FARMMs 

to execute orders in our Facilitation and 

Solicitation Mechanisms, ISE currently 

charges FARMMs a discounted 

transaction fee of $0.19 per contract. ISE 

proposes to adjust the current discount 

by increasing the discounted fee to 

$0.20 per contract. FARMM orders that 

respond to the Exchange’s Facilitation 

and Solicitation auctions will be 

charged the standard fee of $0.45 per 

contract. 

2. Statutory Basis 

The basis under the Securities 

Exchange Act of 1934 (the ‘‘Exchange 

Act’’) for this proposed rule change is 

the requirement under Section 6(b)(4) 

that an exchange have an equitable 

allocation of reasonable dues, fees and 

other charges among its members and 

other persons using its facilities. The 

Exchange believes the proposed fee 

increases are reasonable and will result 

in a more equitable distribution among 

market participants of the costs 

associated with the type of orders to 

which these fees apply. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The proposed rule change does not 

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 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing proposed rule change 

has been designated as a fee change 

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

Act 5 and Rule 19b–4(f)(2) 6 thereunder, 

because it establishes or changes a due, 

fee, or other charge imposed by the 

Federal Register / Vol. 74, No. 53 / Friday, March 20, 2009 / Notices 11983 

7 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

Exchange. Accordingly, the proposal 

will take effect upon filing with the 

Commission. 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–ISE–2009–07 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–ISE–2009–07. 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 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–2009–07 and should be 

submitted on or before April 10, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–6086 Filed 3–19–09; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59571; File No. SR– 

BSECC–2009–02] 

Self-Regulatory Organizations; Boston 

Stock Exchange Clearing Corporation; 

Notice of Filing of Proposed Rule 

Change To Amend the Articles of 

Organization and By-Laws of Boston 

Stock Exchange Clearing Corporation 

March 12, 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 

20, 2009, Boston Stock Exchange 

Clearing Corporation (‘‘BSECC’’) 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 BSECC. 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 

BSECC is filing this proposed rule 

change with regard to proposed changes 

to its Articles of Organization and ByLaws to increase its authorized shares 

and to reflect a transfer in ownership of 

five percent of BSECC’s shares. BSECC 

is also proposing to amend its Articles 

of Organization and By-Laws to change 

its name to the Nasdaq Clearing 

Corporation and to make other 

miscellaneous changes. The proposed 

rule change will be implemented as 

soon as practicable following approval 

by the Commission. The text of the 

proposed rule change is available from 

the Commission’s public reference room 

and at http:// 

nasdaqomxbx.cchwallstreet.com. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

BSECC 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. BSECC 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 

On August 29, 2008, The NASDAQ 

OMX Group, Inc. (‘‘NASDAQ OMX’’) 

completed its acquisition of Boston 

Stock Exchange, Incorporated (recently 

renamed NASDAQ OMX BX, Inc.) and 

several of its wholly owned 

subsidiaries, including BSECC. As a 

result, BSECC has become an indirect 

wholly owned subsidiary of NASDAQ 

OMX. On January 5, 2009, OMX AB, 

which is another indirect wholly owned 

subsidiary of NASDAQ OMX, entered 

into agreements with Fortis Bank Global 

Clearing N.V. (‘‘Fortis’’) and European 

Multilateral Clearing Facility N.V. 

(‘‘EMCF’’), pursuant to which, among 

other things, OMX AB (i) has acquired 

a 22% equity stake in EMCF and (ii) has 

agreed to acquire a 5% equity stake in 

BSECC from NASDAQ OMX BX, Inc. 

and in turn to transfer this stake to 

EMCF. 

The Articles of BSECC provide that: 

All of the authorized shares of Common 

Stock of [BSECC] shall be issued and 

outstanding, and shall be held by Boston 

Stock Exchange, Incorporated, a Delaware 

corporation. Boston Stock Exchange, 

Incorporated may not transfer or assign any 

shares of stock of BSECC, in whole or in part, 

to any entity, unless such transfer or 

assignment shall be filed with and approved 

by the U.S. Securities and Exchange 

Commission under Section 19 of the 

Securities Exchange Act of 1934, as 

amended, and the rules promulgated 

thereunder. 

Accordingly, in order to complete the 

transfer of shares of BSECC 

contemplated by the agreements, BSECC 

must amend the Articles to specify an 

additional stockholder in BSECC and 

must obtain Commission approval for 

the transfer of stock. In addition, BSECC 

is proposing to amend the Articles and 

its By-Laws to change its name to