Federal Register / Vol. 74, No. 58 / Friday, March 27, 2009 / Notices 13505 

16 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4 15 U.S.C. 78s(b)(3)(A). 

5 17 CFR 240.19b–4(f)(6). 

6See CBOE Rule 8.7(b)(iv)(C)(ii). 

7See CBOE Bid/Ask Circular 09–02 (January 7, 

2009) establishing modified bid/ask differentials 

pursuant to CBOE Rule 8.7(b)(iv). 

8A Trading Official is an Exchange Employee that 

has been designated as such by the Chief Executive 

Officer, or the Chief Regulatory Officer, pursuant to 

Rule 6.1(b)(34). 

9 15 U.S.C. 78f (b). 

10 15 U.S.C. 78f (b)(5). 

Arca’s principal office. 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– 

NYSEArca–2009–23 and should be 

submitted on or before April 17, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–6825 Filed 3–26–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59617; File No. SR– 

NYSEArca–2009–19] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Amending Rule 6.37A— 

Obligations of Market Makers-OX 

March 20, 2009. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’) 2 and Rule 19b–4 thereunder,3

notice is hereby given that on March 16, 

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

the ‘‘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 self-regulatory organization. 

NYSE Arca filed the proposed rule 

change as a ‘‘non-controversial’’ 

proposal pursuant to Section 19(b)(3)(A) 

of the Act 4 and Rule 19b–4(f)(6) 

thereunder,5 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 Exchange proposes to amend 

Exchange Rule 6.37A—Obligations of 

Market Makers-OX. The text of the 

proposed rule change is attached as 

Exhibit 5. A copy of this filing 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 

The purpose of the proposed rule 

change is to adopt a provision which 

will allow the Exchange to establish 

different quote differentials other than 

what is provided for in Rule 6.37A(b)(5). 

The proposed rule language is 

substantially similar to what has been 

approved for, and is presently in place 

at, the Chicago Board Options Exchange 

(‘‘CBOE’’).6

Pursuant to Rule 6.37A(b), Market 

Makers on NYSE Arca are required to 

submit electronic quotations within 

certain bid/ask differentials. Subsection 

(5) of this rule states that following an 

Auction, options traded on NYSE Arca 

may be quoted with a difference not to 

exceed $5 between the bid and offer. 

NYSE Arca now proposes to add a 

provision that will allow the Exchange 

to establish different bid/ask 

differentials for certain series. 

Situations may arise where the $5 

differential provided for in Rule 

6.37A(b)(5) is overly restrictive; this has 

shown to be the case when extreme 

market fluctuations, coupled with 

increased volatility in an underlying 

security makes it extremely difficult to 

accurately calculate the price of given 

options series. To address these 

concerns, the CBOE has established 

modified bid/ask differentials in certain 

options series, pursuant to CBOE Rule 

8.7(b)(iv).7 This proposed rule change 

seeks only to allow the Exchange to 

offer NYSE Arca Market Makers the 

same quote relief that is offered to 

Market Makers on the CBOE. 

The Exchange envisions establishing 

quote differentials wider than $5 in very 

limited situations. In addition, if the 

Exchange were to establish modified 

bid/ask differentials it would do so with 

the contingency that the disseminated 

markets in affected series would remain 

competitive and remain narrower than 

the relief granted, whenever possible. 

The CBOE rule states that it is ‘‘the 

Exchange’’ that may establish bid/ask 

differences other than what is provided 

for in their rules. NYSE Arca proposes 

that the decision to establish different 

quote differentials will be made by two 

Trading Officials.8 In the case of NYSE 

Arca, two Trading Officials will 

collectively make the determination on 

behalf of the Exchange. This is the only 

difference between the CBOE rule text 

and the proposed rule text for NYSE 

Arca. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act 9 in general, and 

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

of the Act 10 in particular, because 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 mechanism of a free and 

open market and a national market 

system. The Exchange believes that the 

proposed rule change is appropriate in 

that it creates a mechanism whereas 

Market Makers will be able to provide 

two side quotations even in situations 

where it is difficult to accurately 

calculate the price of given options 

series. 

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. 

mstockstill on PROD1PC66 with NOTICES

13506 Federal Register / Vol. 74, No. 58 / Friday, March 27, 2009 / Notices 

11 15 U.S.C. 78s(b)(3)(A)(iii). 

12 17 CFR 240.19b–4(f)(6). 

13 15 U.S.C. 78s(b)(3)(A). 

14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of the Exchange’s 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 the pre-filing requirement. 15 17 CFR 200.30–3(a)(12). 

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 has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 11 and Rule 

19b–4(f)(6) thereunder.12 Because the 

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 

prior to 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, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 13 and Rule 19b–4(f)(6)(iii) 

thereunder.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–NYSEArca–2009–19 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–NYSEArca–2009–19. 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–NYSEArca–2009–19 and 

should be submitted on or before April 

17, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–6831 Filed 3–26–09; 8:45 am] 

BILLING CODE 8010–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration # 11677 and # 11678] 

Oregon Disaster Number OR–00029 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Amendment 2. 

SUMMARY: This is an amendment of the 

Presidential declaration of a major 

disaster for Public Assistance Only for 

the State of Oregon (FEMA–1824–DR), 

dated 03/02/2009. 

Incident: Severe Winter Storm, 

Record and Near Record Snow, 

Landslides, and Mudslides. 

Incident Period: 12/20/2008 through 

12/26/2008. 

Effective Date: 03/18/2009. 

Physical Loan Application Deadline 

Date: 05/01/2009. 

Economic Injury (EIDL) Loan 

Application Deadline Date: 12/02/2009. 

ADDRESSES: Submit completed loan 

applications to: U.S. Small Business 

Administration, Processing and 

Disbursement Center, 14925 Kingsport 

Road, Fort Worth, TX 76155. 

FOR FURTHER INFORMATION CONTACT: A. 

Escobar, Office of Disaster Assistance, 

U.S. Small Business Administration, 

409 3rd Street, SW., Suite 6050, 

Washington, DC 20416. 

SUPPLEMENTARY INFORMATION: The notice 

of the President’s major disaster 

declaration for Private Non-Profit 

organizations in the State of OREGON, 

dated 03/02/2009, is hereby amended to 

include the following areas as adversely 

affected by the disaster. 

Primary Counties: Tillamook. 

All other information in the original 

declaration remains unchanged. 

(Catalog of Federal Domestic Assistance 

Numbers 59002 and 59008) 

Roger B. Garland, 

Acting Associate Administrator for Disaster 

Assistance. 

[FR Doc. E9–6849 Filed 3–26–09; 8:45 am] 

BILLING CODE 8025–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

[Summary Notice No. PE–2009–13] 

Petition for Exemption; Summary of 

Petition Received 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of petition for exemption 

received. 

SUMMARY: This notice contains a 

summary of a petition seeking relief 

from specified requirements of a special 

condition. The purpose of this notice is 

to improve the public’s awareness of, 

and participation in, this aspect of 

FAA’s regulatory activities. Neither 

publication of this notice nor the 

inclusion or omission of information in 

the summary is intended to affect the 

legal status of the petition or its final 

disposition. 

DATES: Comments on this petition must 

identify the petition docket number 

mstockstill on PROD1PC66 with NOTICES