18416 Federal Register / Vol. 74, No. 76 / Wednesday, April 22, 2009 / Notices 

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

14 17 CFR 240.19b–4(f)(2). 15 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Premium Products is defined in the Schedule of 

Fees as the products enumerated therein. 

safeguarding of funds or securities in 

DTC’s custody and control or for which 

it is responsible because it allows for a 

more efficient processing of P&I 

withdrawals and SPP returns. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

DTC does not believe that the 

proposed rule change will have any 

impact or impose any burden on 

competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

DTC has not solicited or received 

written comments relating to the 

proposed rule change. DTC will notify 

the Commission of any written 

comments it receives. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(iii) of the Act 13 and Rule 

19b–4(f)(4) 14 thereunder because it 

effects a change in an existing service of 

a registered clearing agency that does 

not adversely affect the safeguarding of 

securities and funds in the custody or 

control of the clearing agency or for 

which it is responsible and does not 

significantly affect the respective rights 

or obligations of the clearing agency or 

persons using the service. 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 rulecomment@sec.gov. Please include File 

No. SR–DTC–2009–08 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 No. 

SR–DTC–2009–08. 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. to 3 p.m. 

Copies of such filing also will be 

available for inspection and copying at 

DTC’s principal office and on DTC’s 

Web site at http://www.dtc.org/impNtc/ 

mor/index.html. 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 No. SR–DTC–2009– 

08 and should be submitted on or before 

May 13, 2009. 

For the Commission by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–9239 Filed 4–21–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59777; File No. SR–ISE– 

2009–20] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to Fee Changes 

April 16, 2009. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that on April 14, 

2009, the International Securities 

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

‘‘ISE’’) 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 self-regulatory 

organization. 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 establish fees for 

transactions in options on 3 Premium 

Products.3 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. 


dwashington3 on PROD1PC60 with NOTICES
Federal Register / Vol. 74, No. 76 / Wednesday, April 22, 2009 / Notices 18417 

4The MSCI Emerging Markets IndexSM is a 

service mark of Morgan Stanley Capital 

International Inc. (‘‘MSCI’’) and has been licensed 

for use by Direxion Shares ETF Trust. All other 

trademarks and service marks are the property of 

their respective owners. The Direxion Emerging 

Markets Bull 3x Shares (‘‘EDC’’) and the Direxion 

Emerging Markets Bear 3x Shares (‘‘EDZ’’) are not 

sponsored, endorsed, issued, sold or promoted by 

MSCI, any of its affiliates, any of its information 

providers or any other third party involved in, or 

related to, compiling, computing or creating the 

MSCI Emerging Markets Index. MSCI has not 

licensed or authorized ISE to (i) engage in the 

creation, listing, provision of a market for trading, 

marketing, and promotion of options on EDC and 

EDZ or (ii) to use and refer to any of their 

trademarks or service marks in connection with the 

listing, provision of a market for trading, marketing, 

and promotion of options on EDC and EDZ or with 

making disclosures concerning options on EDC and 

EDZ under any applicable Federal or State laws, 

rules or regulations. MSCI does not sponsor, 

endorse, or promote such activity by ISE and is not 

affiliated in any manner with ISE. 

5These fees will be charged only to Exchange 

members. Under a pilot program that is set to expire 

on July 31, 2009, these fees will also be charged to 

Linkage Principal Orders (‘‘Linkage P Orders’’) and 

Linkage Principal Acting as Agent Orders (‘‘Linkage 

P/A Orders’’). The amount of the execution fee 

charged by the Exchange for Linkage P Orders and 

Linkage P/A Orders is $0.27 per contract side and 

$0.18 per contract side, respectively. See Securities 

Exchange Act Release No. 58143 (July 11, 2008), 73 

FR 41388 (July 18, 2008) (SR–ISE–2008–52). 

6Public Customer Order is defined in Exchange 

Rule 100(a)(39) as an order for the account of a 

Public Customer. Public Customer is defined in 

Exchange Rule 100(a)(38) as a person or entity that 

is not a broker or dealer in securities. 

7The Exchange applies a sliding scale, between 

$0.01 and $0.18 per contract side, based on the 

number of contracts an ISE market maker trades in 

a month. 

8The amount of the execution fee for non-ISE 

Market Maker transactions executed in the 

Exchange’s Facilitation and Solicitation 

Mechanisms is $0.20 per contract. 

9FTZ was previously delisted and no longer 

trades on the Exchange. Pursuant to SR–ISE–2008– 

07, filed on January 14, 2008, the Exchange 

removed FTZ from its Customer (Premium 

Products) line item and from its Payment for Order 

Flow line item on its fee schedule. In that filing, 

the Exchange, however, inadvertently failed to 

remove FTZ from its surcharge fee line item on its 

fee schedule. 

10 15 U.S.C. 78f. 

11 15 U.S.C. 78f(b)(4). 

12 15 U.S.C. 78s(b)(3)(A). 

13 17 CFR 240.19b–4(f)(2). 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange is proposing to amend 

its Schedule of Fees to establish fees for 

transactions in options on the ProShares 

Ultra Silver ETF (‘‘AGQ’’), the Direxion 

Emerging Markets Bull 3x Shares 

(‘‘EDC’’) and the Direxion Emerging 

Markets Bear 3x Shares (‘‘EDZ’’).4 The 

Exchange represents that AGQ, EDC and 

EDZ are eligible for options trading 

because they constitute ‘‘ExchangeTraded Fund Shares,’’ as defined by ISE 

Rule 502(h). 

All of the applicable fees covered by 

this filing are identical to fees charged 

by the Exchange for all other Premium 

Products. Specifically, the Exchange is 

proposing to adopt an execution fee for 

all transactions in options on AGQ, EDC 

and EDZ.5 The amount of the execution 

fee for products covered by this filing 

shall be $0.18 per contract for all Public 

Customer Orders 6 and $0.20 per 

contract for all Firm Proprietary orders. 

The amount of the execution fee for all 

ISE Market Maker transactions shall be 

equal to the execution fee currently 

charged by the Exchange for ISE Market 

Maker transactions in equity options.7

Finally, the amount of the execution fee 

for all non-ISE Market Maker 

transactions shall be $0.45 per contract.8

Further, since options on AGQ, EDC and 

EDZ are multiply-listed, the Exchange’s 

Payment for Order Flow fee shall apply 

to all these products. The Exchange 

believes the proposed rule change will 

further the Exchange’s goal of 

introducing new products to the 

marketplace that are competitively 

priced. 

Further, as a matter of housekeeping, 

the Exchange proposes to remove FTZ 

from the surcharge fee line item on its 

Schedule of fees.9

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the objectives of Section 6 of the Act,10

in general, and furthers the objectives of 

Section 6(b)(4),11 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. 

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 rule change has become 

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

the Act 12 and Rule 19b–4(f)(2)13

thereunder. 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 proposal 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 

No. SR–ISE–2009–20 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 No. 

SR–ISE–2009–20. 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 changes 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 ISE. All 

comments received will be posted 

without change; the Commission does 


dwashington3 on PROD1PC60 with NOTICES
18418 Federal Register / Vol. 74, No. 76 / Wednesday, April 22, 2009 / Notices 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Commission notes that on April 2, 2009, 

substantially similar filings also were submitted by 

Boston Stock Exchange Clearing Corporation 

(‘‘BSECC’’) (SR–BSECC–2009–003) and Stock 

Clearing Corporation of Philadelphia (‘‘SCCP’’) (SR– 

SCCP–2009–02), the clearing corporation 

subsidiaries of NASDAQ OMX Group, Inc. 

(‘‘NASDAQ OMX’’). 

4BX, the NASDAQ Exchange, Phlx, BSECC, and 

SCCP have each submitted its respective filing 

pursuant to Section 19(b)(3)(A)(iii) of the Act, 15 

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

5Securities Exchange Act Release No. 59460 

(February 26, 2009), 74 FR 9841 (March 6, 2009) 

(SR–NASDAQ–2009–010, SR–BX–2009–009, SR– 

Phlx–2009–14); Securities Exchange Act Release 

No. 59496 (March 3, 2009), 74 FR 10626 (March 11, 

2009) (SR–BSECC–2009–01); Securities Exchange 

Act Release No. 59494 (March 3, 2009), 74 FR 

10642 (March 11, 2009) (SR–SCCP–2009–01). 

6 15 U.S.C. 78f. 

7 15 U.S.C. 78f(b)(1), (b)(5). 

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 No. 

SR–ISE–2009–20 and should be 

submitted on or before May 13, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–9203 Filed 4–21–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–59773; File Nos. SR–BX– 

2009–019, SR–NASDAQ–2009–032, SR– 

Phlx–2009–31] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; the NASDAQ 

Stock Market LLC; NASDAQ OMX 

PHLX, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Changes To Amend the 

Certificate of Incorporation of the 

NASDAQ OMX Group, Inc. 

April 15, 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 April 2, 

2009, NASDAQ OMX BX, Inc. (‘‘BX’’), 

the NASDAQ Stock Market LLC 

(‘‘NASDAQ Exchange’’) and NASDAQ 

OMX PHLX, Inc. (‘‘Phlx’’) (collectively, 

the ‘‘NASDAQ OMX Exchange 

Subsidiaries’’) 3 filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

changes as described in Items I, II, and 

III below, which Items have been 

substantially prepared by the NASDAQ 

OMX Exchange Subsidiaries. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

changes from interested persons. 

I. Self-Regulatory Organizations’ 

Statement of the Terms of Substance of 

the Proposed Rule Changes 

The NASDAQ OMX Exchange 

Subsidiaries are filing the proposed rule 

changes with regard to proposed 

changes to the Restated Certificate of 

Incorporation (the ‘‘Certificate’’) of their 

parent corporation, NASDAQ OMX. The 

proposed rule changes will be 

implemented as soon as practicable 

following filing with the Commission. 

The text of the proposed rule changes is 

available at http:// 

www.cchwallstreet.com/nasdaqomx/, 

http://www.nasdaqtrader.com/ 

Trader.aspx?id=BSEIERules2009, and 

http://www.nasdaqtrader.com/ 

Micro.aspx?id=PhlxApproved

Rulefilings, respectively, and at the 

respective NASDAQ OMX Exchange 

Subsidiary’s principal office, and at the 

Commission’s Public Reference Room. 

II. Self-Regulatory Organizations’ 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Changes 

In their filings with the Commission, 

each of the NASDAQ OMX Exchange 

Subsidiaries included statements 

concerning the purpose of and basis for 

its proposed rule change and discussed 

any comments it received on its 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. Each 

of the NASDAQ OMX Exchange 

Subsidiaries has prepared summaries, 

set forth in Sections A, B, and C below, 

of the most significant aspects of such 

statements. 

A. Self-Regulatory Organizations’ 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Changes 

1. Purpose 

NASDAQ OMX is proposing to make 

amendments to its Certificate. As 

provided in Articles XI and XII of the 

NASDAQ OMX By-Laws, proposed 

amendments to the Certificate are to be 

reviewed by the Board of Directors of 

each self-regulatory subsidiary of 

NASDAQ OMX, and if any such 

proposed amendment must, under 

Section 19 of the Act and the rules 

promulgated thereunder, be filed with, 

or filed with and approved by, the 

Commission before such amendment 

may be effective, then such amendment 

shall not be effective until filed with, or 

filed with and approved by, the 

Commission, as the case may be. The 

governing boards of BX, the NASDAQ 

Exchange, Phlx, BSECC, and SCCP have 

each reviewed the proposed change and 

determined that it should be filed with 

the Commission.4 The changes to the 

Certificate are limited in scope, and 

under Delaware law, they do not require 

approval by the stockholders of 

NASDAQ OMX. 

Specifically, NASDAQ OMX is 

proposing to restate, without 

amendment, its Certificate. The 

Certificate is composed of a previous 

Restated Certificate of Incorporation 

adopted in 2003, and numerous 

subsequent amendments, which, under 

Delaware law, are adopted as 

freestanding documents. However, 

Delaware law allows the various 

documents comprising a certificate of 

incorporation to be consolidated into a 

single restated certificate upon approval 

of a corporation’s board of directors. 

The change will assist interested 

persons, including NASDAQ OMX 

stockholders and Commission staff, in 

reading the Certificate without having to 

review multiple documents. The 

restated Certificate reflects the deletion 

of both the Certificate of Designations, 

Preferences and Rights of Series D 

Preferred Stock and the Certificate of 

Elimination that was recently filed with 

respect to it.5 Since the latter 

component of the Certificate cancels the 

former, they are both deleted from the 

restated Certificate. 

2. Statutory Basis 

The NASDAQ OMX Exchange 

Subsidiaries believe that their respective 

proposed rule changes are consistent 

with the provisions of Section 6 of the 

Act,6 in general, and with Sections 

6(b)(1) and (b)(5) of the Act,7 in 

particular, in that the proposal enables 

the NASDAQ OMX Exchange 

Subsidiaries to be so organized as to 

have the capacity to be able to carry out 

the purposes of the Act and to comply 

with and enforce compliance by 

members and persons associated with 

members with provisions of the Act, the 

rules and regulations thereunder, and 

self-regulatory organization rules, and 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 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, to 

remove impediments to and perfect the 


dwashington3 on PROD1PC60 with NOTICES