22886 Federal Register / Vol. 75, No. 83 / Friday, April 30, 2010 / Notices 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 52014 

(July 12, 2005) 70 FR 41244 (July 18, 2005). 

4See e.g., Securities Exchange Act Release Nos. 

44521 (July 6, 2001), 66 FR 36809 (July 13, 2001) 

(order approving OLPP); 58205 (July 22, 2008), 73 

FR 43798 (July 28, 2008) (order granting permanent 

approval to amendment no. 1 to the OLPP); 58630 

(September 24, 2008) 73 FR 57166 (October 1, 2008) 

(order granting permanent approval to amendment 

no. 2 to the OLPP); and 60531 (August 19, 2009), 

74 FR 43173 (August 26, 2009) (order approving 

amendment no. 3 to the OLPP). 

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

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

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–10031 Filed 4–29–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61978; File No. SR– 

NYSEAmex–2010–39] 

Self-Regulatory Organizations; NYSE 

Amex LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending Rule 903 and 

Adopting Rule 903A 

April 23, 2010. 

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 16, 

2010, NYSE Amex LLC (‘‘NYSE Amex’’ 

or the ‘‘Exchange’’) 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 Exchange proposes to amend 

Rule 903 and adopt Rule 903A to apply 

uniform objective standards to the range 

of options series exercise (or strike) 

prices available for trading on the 

Exchange, and to amend Rule 903 

Commentary .03 to delineate the timing 

for adding new Long Term Equity 

Option Series. The text of the proposed 

rule change is attached as Exhibit 5 to 

the 19b–4 form. A copy of this filing is 

available on the Exchange’s Web site at 

http://www.nyse.com, at the Exchange’s 

principal office, at the Commission’s 

Public Reference Room, and on the 

Commission’s Web site at http:// 

www.sec.gov. 

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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The purpose of this filing is to amend 

Rule 903 and adopt Rule 903A to apply 

uniform objective standards to the range 

of options series exercise (or strike) 

prices available for trading on the 

Exchange, and to amend Rule 903 

Commentary .03 to delineate the timing 

for adding new Long Term Equity 

Option Series. The Exchange is also 

proposing to remove provisions in 

Commentary .03 related to Short Term 

Option Series and place those 

provisions in new Commentary .10. 

Commentary .10 will only contain 

provisions previously approved by the 

Commission.3

The Options Listing Procedures Plan 

(‘‘OLPP’’) was approved by the 

Securities and Exchange Commission 

(the ‘‘Commission’’) on July 6, 2001 and 

has been amended several times.4 The 

OLPP provides procedures for: (i) 

Listing and trading new option classes; 

(ii) selecting new options series; (iii) 

petitioning The Options Clearing 

Corporation (‘‘OCC’’) to review the 

eligibility, pursuant to the exchanges’ 

listing standards, of a selected option 

class without delaying the trading of 

that option class; (iv) determining 

operational details for option contracts 

adjusted pursuant to OCC By-Laws; (v) 

admitting new sponsors; and (vi) losing 

eligibility to participate in the OLPP. 

This current filing is primarily 

concerned with codifying certain 

provisions of the OLPP pertaining to 

selecting new option series and certain 

strike setting parameters that have been 

adopted under the OLPP. The Exchange 

believes that it is helpful to codify select 

provisions into NYSE Amex’s rules so 

that all applicable rules governing series 

selection and applicable strike setting 

parameters are located in a single place. 

In addition, the Exchange understands 

that other Sponsor Exchanges to the 

OLPP will be submitting similar filings 

to codify portions of the OLPP in their 

respective rulebooks. Below the 

Exchange briefly describes the 

provisions of the OLPP that the 

Exchange is proposing to codify into 

NYSE Amex’s rules. 

OLPP Amendments Pertaining to 

LEAPS 

Amendments 1 and 2 to the OLPP 

adopted provisions governing the listing 

of Long-Term Equity Option Series 

(‘‘LEAPS’’). Amendment 1 provided for 

a uniform time frame for the 

introduction of new LEAPS on equity 

option classes, options on exchange 

traded funds (‘‘ETFs’’), or options on 

Trust Issued Receipts (‘‘TIRs’’). 

Amendment 2 provided for a uniform 

minimum volume threshold per 

underlying class to qualify for the 

introduction of a new expiration year of 

LEAPs on equity, ETF and TIR classes. 

The Exchange is proposing to codify the 

changes made to the OLPP by 

Amendments 1 and 2 by amending Rule 

903 Commentary .03. 

Strike Setting Parameters 

Amendment 3 to the OLPP adopted 

uniform objective standards to the range 

of options series exercise (or strike) 

prices available for trading on Sponsor 

Exchanges to the OLPP as a quote 

mitigation strategy. The Exchange is 

proposing to codify the changes made to 

the OLPP by Amendment 3 by inserting 

a reference in Rule 903 and by adopting 

new Rule 903A, Select Provisions of 

Options Listing Procedures Plan. The 

Exchange is proposing to create a new 

rule that can be easily amended in the 

future if other amendments to the OLPP 

are made which similarly warrant being 

codified into NYSE Amex’s rules. 

2. Statutory Basis 

The Exchange believes 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 

promote just and equitable principles of 

trade, to prevent fraudulent and 

manipulative acts, to remove 

impediments to and to perfect the 

mechanism for a free and open market 

and a national market system and, in 

general, to protect investors and the 


wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1
Federal Register / Vol. 75, No. 83 / Friday, April 30, 2010 / Notices 22887 

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

8 17 CFR 240.19b–4(f)(6). 

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

10 17 CFR 240.19b–4(f)(6)(iii). 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 the 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. 11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Chapter XII, Intermarket Linkage Rules, 

Section 4, Temporary Rule Governing Phase-Out of 

P and P/A Orders. 

4See Securities Exchange Act Release No. 57545 

(March 21, 2008), 73 FR 16394 (March 27, 2008). 

On July 28, 2000, the Commission approved a 

national market system plan for the purpose of 

creating and operating an intermarket options 

market linkage (‘‘Linkage’’) proposed by the then 

American Stock Exchange LLC, now NYSE Amex 

LLC (‘‘NYSE Amex’’), Chicago Board Options 

Exchange, Inc. (‘‘CBOE’’), and International 

Securities Exchange LLC (‘‘ISE’’). See Securities 

Exchange Act Release No. 43086 (July 28, 2000), 65 

FR 48023, (August 4, 2000). Subsequently, 

Philadelphia Stock Exchange, Inc., now NASDAQ 

OMX PHLX, Inc. (‘‘Phlx’’), Pacific Exchange, Inc., 

now NYSE Arca, Inc. (‘‘NYSE Arca’’) and Boston 

Stock Exchange, Inc., now NASDAQ OMX BX, Inc. 

(‘‘BSX’’) joined the Linkage Plan. See Securities 

Exchange Act Release Nos. 43573 (November 16, 

2000), 65 FR 70851, (November 28, 2000); 43574 

(November 16, 2000), 65 FR 70850, (November 28, 

2000); and 49198 (February 5, 2004), 69 FR 7029, 

(February 12, 2004). The Exchange was added as a 

Participant to the Linkage Plan. Linkage was 

governed by the Options Linkage Authority under 

the conditions set forth under the Plan for the 

Purpose of Creating and Operating an Intermarket 

Option Linkage approved by the Commission. 

public interest. The Exchange believes 

that codifying certain provisions of the 

OLPP, as amended, serves to foster 

investor protection. 

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 has filed the proposed 

rule change pursuant to Section 

19(b)(3)(A)(iii) of the Act 7 and Rule 

19b–4(f)(6) thereunder.8 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 9 and Rule 

19b–4(f)(6)(iii) thereunder.10

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–NYSEAmex–2010–39 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–NYSEAmex–2010–39. 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 Web site viewing and 

printing 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– 

NYSEAmex–2010–39 and should be 

submitted on or before May 21, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–10081 Filed 4–29–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61981; File No. SR– 

NASDAQ–2010–051] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Concerning 

Intermarket Option Linkage 

April 26, 2010. 

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 20, 

2010, The NASDAQ Stock Market LLC 

(‘‘Nasdaq’’ or the ‘‘Exchange’’) 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 Nasdaq. 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 is filing with the 

Commission a proposed rule change to 

delete its Temporary Rule Governing 

Phase-Out of P and P/A Orders 3 and 

amend several references in the rules to 

the Plan for the Purpose of Creating and 

Operating an Intermarket Linkage 

(‘‘Linkage Plan’’).4 In addition, the 

Exchange also proposes to amend its 

fees in Rule 7050, NASDAQ Options 

Market, to discontinue its current pilot 

program (the ‘‘pilot’’) relating to options 


wwoods2 on DSK1DXX6B1PROD with NOTICES_PART 1