Document headings vary by document type but may contain
                    the following: the agency or agencies that issued and signed a document
the number of the CFR title and the number of each part
                      the document amends, proposes to amend, or is directly
                      related to
the agency docket number / agency internal file number
the RIN which identifies each regulatory action listed in
                      the Unified Agenda of Federal Regulatory and Deregulatory
                      Actions See the
                    Document Drafting Handbook
                    for more details.
 Securities and Exchange Commission [Release No. 34–62042; File No. SR–ISE–2010–42]
 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 29, 2010, the International Securities Exchange, LLC (the “Exchange” or the “ISE”) filed with the Securities and Exchange 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 proposes to designate 75 options classes to be added to the pilot program to quote and to trade certain options in pennies (the “Penny Pilot”) on May 3, 2010. 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 *Purpose*
                    —ISE proposes to identify the next 75 options classes to be added to the Penny Pilot effective May 3, 2010. The Exchange recently received approval to extend and expand the Penny Pilot through December 31, 2010.[3]
                    
                     In that filing, the Exchange had proposed expanding the Penny Pilot on a quarterly basis to add the next 75 most actively traded multiply listed options classes based on national average daily volume for the six months prior to selection, closing under $200 per share on the Expiration Friday prior to expansion, except that the month immediately preceding their addition to the Penny Pilot will not be used for the purpose of the six month analysis.[4] ISE proposes to add the following 75 options classes to the Penny Pilot on May 3, 2010, based on national average daily volume for the six months ending March 31, 2010: Nat'l ranking
Symbol
Security name
Nat'l ranking
Symbol
Security name153
XLV
Health Care Select Sector SPDR Fund.
247
JCP
JC Penney Co Inc.155
CIEN
Ciena Corp.
248
ACL
Alcon Inc.157
AMLN
Amylin Pharmaceuticals Inc.
249
STP
Suntech Power Holdings Co Ltd.158
CTIC
Cell Therapeutics Inc.
250
TLB
Talbots Inc.159
MDT
Medtronic Inc.
251
SYMC
Symantec Corp.162
TIVO
TiVo Inc.
253
AMED
Amedisys Inc.163
MNKD
MannKind Corp.
255
TM
Toyota Motor Corp.171
MDVN
Medivation Inc.
257
HK
Petrohawk Energy Corp.176
BRKB
Berkshire Hathaway Inc.
258
ENER
Energy Conversion Devices Inc.178
APOL
Apollo Group Inc.
259
STT
State Street Corp.181
BSX
Boston Scientific Corp.
260
BHP
BHP Billiton Ltd.185
XLY
Consumer Discretionary Sel. Sec. SPDR Fund.
261
NFLX
NetFlix Inc.188
CLF
Cliffs Natural Resources Inc.
262
LDK
LDK Solar Co Ltd.190
ZION
Zions Bancorporation.
263
SPG
Simon Property Group Inc.194
IOC
InterOil Corp.
264
TIF
Tiffany & Co.197
ITMN
InterMune Inc.
265
BUCY
Bucyrus International Inc.( print page 26311)204
GME
GameStop Corp.
266
WAG
Walgreen Co.209
XLK
Technology Select Sector SPDR Fund.
268
IP
International Paper Co.210
AKS
AK Steel Holding Corp.
271
XME
SPDR S&P Metals & Mining ETF.212
GRMN
Garmin Ltd.
272
KGC
Kinross Gold Corp.213
MRVL
Marvell Technology Group Ltd.
273
EP
El Paso Corp.215
XLP
Consumer Staples Select Sector SPDR Fund.
274
SEED
Origin Agritech Ltd.216
UNP
Union Pacific Corp.
275
WIN
Windstream Corp.220
DTV
DIRECTV.
279
DHI
DR Horton Inc.223
WMB
Williams Cos Inc/The.
280
ADBE
Adobe Systems Inc.225
MEE
Massey Energy Co.
281
PCX
Patriot Coal Corp.227
CELG
Celgene Corp.
282
SPWRA
SunPower Corp.229
GMCR
Green Mountain Coffee Roasters Inc.
284
LCC
US Airways Group Inc.231
WDC
Western Digital Corp.
285
PRU
Prudential Financial Inc.234
DAL
Delta Air Lines Inc.
286
LEN
Lennar Corp.235
FXE
CurrencyShares Euro Trust.
287
EWT
iShares MSCI Taiwan Index Fund.237
COST
Costco Wholesale Corp.
288
KBH
KB Home.239
MJN
Mead Johnson Nutrition Co.
289
CREE
Cree Inc.240
ALL
Allstate Corp/The.
290
SIRI
Sirius XM Radio Inc.241
SII
Smith International Inc.
291
MMR
McMoRan Exploration Co.242
RTN
Raytheon Co.
292
CENX
Century Aluminum Co.243
DVN
Devon Energy Corp.
293
GFI
Gold Fields Ltd.244
MT
ArcelorMittal.
 (b) 
                    *Basis*
                    —The basis under the Securities Exchange Act of 1934 (the “Exchange Act”) for this proposed rule change is found in Section 6(b)(5), in that the proposed rule change is designed to promote just and equitable principles of trade, remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest. In particular, the proposed rule change identifies the options classes to be added to the Penny Pilot in a manner consistent with prior approvals and filings. 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 written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change is effective upon filing pursuant to Section 19(b)(3)(A)(i) [5]
                    
                     of the Exchange Act and Rule 19b-4(f)(1) [6]
                    
                     thereunder, in that it constitutes a stated policy, practice or interpretation with respect to the meaning, administration or enforcement of an existing rule of the Exchange. 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*rule-comments@sec.gov.*
                     Please include File No. SR–ISE–2010–42 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–2010–42. 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 Commissions 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 copying in the Commission's Public Reference Room. Copies of such filing also will be available for inspection and copying at the principal office of the ISE. 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–2010–42 and should be submitted by June 1, 2010. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.[7] Florence E. Harmon, Deputy Secretary.


# Footnotes

1.
    
                         15 U.S.C. 78s(b)(1). Back to Citation
 2.
    
                         17 CFR 240.19b–4. Back to Citation
 3.
    
                         
                        *See*
                         Securities Exchange Act Release No. 60865 (October 22, 2009), 74 FR 55880 (October 29, 2009) (SR–ISE–2009–82). The Commission notes that this proposed rule change was submitted pursuant to Section 19(b)(3)(A)(iii) of the Act and was, therefore, effective upon filing. The Commission does not approve proposed rule changes submitted pursuant to this section of the Act. Back to Citation
 4.
    
                         Index products would be included in the expansion if the underlying index level was under 200. Back to Citation
 5.
    
                         15 U.S.C. 78s(b)(3)(A)(i). Back to Citation
 6.
    
                         17 CFR 240.19b–4(f)(1). Back to Citation
 7.
    
                             17 CFR 200.30–3(a)(12). Back to Citation


[FR Doc. 2010–11135 Filed 5–10–10; 8:45 am] BILLING CODE 8010–01–P