Federal Register / Vol. 75, No. 90 / Tuesday, May 11, 2010 / Notices 26299 

2 527 clearing brokers + 2426 introducing brokers 

= 2953. 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Exchange Act Release No. 60711 (September 

23, 2009), 74 FR 49419 (September 28, 2009) (order 

approving SR–NYSEArca–2009–44). 

information obligations of Rule 605. 

Each of these respondents is required to 

respond to the collection of information 

on a monthly basis. 

The Commission staff estimates that, 

on average, Rule 605 causes respondents 

to spend 6 hours per month in 

additional time to collect the data 

necessary to generate the reports, or 72 

hours per year. With an estimated 408 

market centers subject to Rule 605, the 

total data collection cost to comply with 

the monthly reporting requirement is 

estimated to be 29,376 hours per year. 

Rule 606 of Regulation NMS (‘‘Rule 

606’’), formerly known as Rule 11Ac1– 

6, requires broker-dealers to prepare and 

disseminate quarterly order routing 

reports. Much of the information needed 

to generate these reports already should 

be collected by broker-dealers in 

connection with their periodic 

evaluations of their order routing 

practices. Broker-dealers must conduct 

such evaluations to fulfill the duty of 

best execution that they owe their 

customers. 

The collection of information 

obligations of Rule 606 applies to 

broker-dealers that route non-directed 

customer orders in covered securities. 

The Commission estimates that out of 

the currently 5178 broker-dealers that 

are subject to the collection of 

information obligations of Rule 606, 

clearing brokers bear a substantial 

portion of the burden of complying with 

the reporting and recordkeeping 

requirements of Rule 606 on behalf of 

small to mid-sized introducing firms. 

There currently are approximately 527 

clearing brokers. In addition, there are 

approximately 2426 introducing brokers 

that receive funds or securities from 

their customers. Because at least some 

of these firms also may have greater 

involvement in determining where 

customer orders are routed for 

execution, they have been included, 

along with clearing brokers, in 

estimating the total burden of Rule 606. 

The Commission staff estimates that 

each firm significantly involved in order 

routing practices incurs an average 

burden of 40 hours to prepare and 

disseminate a quarterly report required 

by Rule 606, or a burden of 160 hours 

per year. With an estimated 2953 2

broker-dealers significantly involved in 

order routing practices, the total burden 

per year to comply with the quarterly 

reporting requirement in Rule 606 is 

estimated to be 472,480 hours. 

Rule 606 requires broker-dealers to 

respond to individual customer requests 

for information on orders handled by 

the broker-dealer for that customer. 

Clearing brokers generally bear the 

burden of responding to these requests. 

The Commission staff estimates that an 

average clearing broker incurs an annual 

burden of 400 hours (2000 responses x 

0.2 hours/response) to prepare, 

disseminate, and retain responses to 

customers required by Rule 606. With 

an estimated 527 clearing brokers 

subject to Rule 606, the total burden per 

year to comply with the customer 

response requirement in Rule 606 is 

estimated to be 210,800 hours. 

The collection of information 

obligations imposed by Rule 605 and 

Rule 606 are mandatory. The response 

will be available to the public and will 

not be kept confidential. Persons should 

note that an agency may not conduct or 

sponsor, and a person is not required to 

comply with, a collection of information 

unless it displays a currently valid OMB 

control number. 

Comments should be directed to: (i) 

Desk Officer for the Securities and 

Exchange Commission, Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, 

Room 10102, New Executive Office 

Building, Washington, DC 20503, or by 

sending an e-mail to: 

Shagufta_Ahmed@omb.eop.gov; and (ii) 

Charles Boucher, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o Shirley 

Martinson, 6432 General Green Way, 

Alexandria, Virginia 22312, or send an 

e-mail to PRA_Mailbox@sec.gov. 

Comments must be submitted to OMB 

within 30 days of this notice. 

May 5, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–11099 Filed 5–10–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62031; File No. SR– 

NYSEArca–2010–39] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Arca, Inc. Adding 75 Options Classes 

to the Penny Pilot Program 

May 4, 2010. 

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 April 28, 

2010, NYSE Arca, Inc. (‘‘NYSE Arca’’ 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 designate 

75 options classes to be added to the 

Penny Pilot Program for Options 

(‘‘Penny Pilot’’ or ‘‘Pilot’’) on May 3, 

2010. There are no changes to the rule 

text. 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

NYSE Arca 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 Pilot 

through December 31, 2010.4 In that 

filing, the Exchange had proposed 

expanding the 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 


emcdonald on DSK2BSOYB1PROD with NOTICES
26300 Federal Register / Vol. 75, No. 90 / Tuesday, May 11, 2010 / Notices 

5 Index products would be included in the 

expansion if the underlying index level was under 

200. 

6 15 U.S.C. 78s(b)(3)(A)(i). 

7 17 CFR 240.19b–4(f)(1). 

used for the purpose of the six month 

analysis.5

NYSE Arca proposes adding the 

following 75 options classes to the 

Penny Pilot on May 3, 2010, based on 

national average daily volume from 

October 1, 2009 through March 31, 

2010: 

Nat’l 

Ranking Symbol Security name 

153 ...... XLV ..... Health Care Select Sector SPDR Fund. 

155 ...... CIEN ... Ciena Corp. 

157 ...... AMLN .. Amylin Pharmaceuticals 

Inc. 

158 ...... CTIC .... Cell Therapeutics Inc. 

159 ...... MDT .... Medtronic Inc. 

162 ...... TIVO .... TiVo Inc. 

163 ...... MNKD MannKind Corp. 

171 ...... MDVN Medivation Inc. 

176 ...... BRKB .. Berkshire Hathaway Inc. 

178 ...... APOL .. Apollo Group Inc. 

181 ...... BSX ..... Boston Scientific Corp. 

185 ...... XLY ..... Consumer Discretionary 

Sel. Sec. SPDR Fund. 

188 ...... CLF ..... Cliffs Natural Resources 

Inc. 

190 ...... ZION ... Zions Bancorporation. 

194 ...... IOC ...... InterOil Corp. 

197 ...... ITMN ... InterMune Inc. 

204 ...... GME .... GameStop Corp. 

209 ...... XLK ..... Technology Select Sector SPDR Fund. 

210 ...... AKS ..... AK Steel Holding Corp. 

212 ...... GRMN Garmin Ltd. 

213 ...... MRVL .. Marvell Technology 

Group Ltd. 

215 ...... XLP ..... Consumer Staples Select Sector SPDR 

Fund. 

216 ...... UNP .... Union Pacific Corp. 

220 ...... DTV ..... DIRECTV. 

223 ...... WMB ... Williams Cos Inc/The. 

225 ...... MEE .... Massey Energy Co. 

227 ...... CELG .. Celgene Corp. 

229 ...... GMCR Green Mountain Coffee 

Roasters Inc. 

231 ...... WDC ... Western Digital Corp. 

234 ...... DAL ..... Delta Air Lines Inc. 

235 ...... FXE ..... CurrencyShares Euro 

Trust. 

237 ...... COST .. Costco Wholesale Corp. 

239 ...... MJN ..... Mead Johnson Nutrition 

Co. 

240 ...... ALL ...... Allstate Corp/The. 

241 ...... SII ........ Smith International Inc. 

242 ...... RTN ..... Raytheon Co. 

243 ...... DVN .... Devon Energy Corp. 

244 ...... MT ....... ArcelorMittal. 

247 ...... JCP ..... JC Penney Co Inc. 

248 ...... ACL ..... Alcon Inc. 

249 ...... STP ..... Suntech Power Holdings 

Co Ltd. 

250 ...... TLB ..... Talbots Inc. 

251 ...... SYMC .. Symantec Corp. 

253 ...... AMED .. Amedisys Inc. 

255 ...... TM ....... Toyota Motor Corp. 

257 ...... HK ....... Petrohawk Energy Corp. 

258 ...... ENER .. Energy Conversion Devices Inc. 

Nat’l 

Ranking Symbol Security name 

259 ...... STT ..... State Street Corp. 

260 ...... BHP ..... BHP Billiton Ltd. 

261 ...... NFLX ... NetFlix Inc. 

262 ...... LDK ..... LDK Solar Co Ltd. 

263 ...... SPG .... Simon Property Group 

Inc. 

264 ...... TIF ....... Tiffany & Co. 

265 ...... BUCY .. Bucyrus International 

Inc. 

266 ...... WAG ... Walgreen Co. 

268 ...... IP ......... International Paper Co. 

271 ...... XME .... SPDR S&P Metals & 

Mining ETF. 

272 ...... KGC .... Kinross Gold Corp. 

273 ...... EP ....... El Paso Corp. 

274 ...... SEED .. Origin Agritech Ltd. 

275 ...... WIN ..... Windstream Corp. 

279 ...... DHI ...... DR Horton Inc. 

280 ...... ADBE .. Adobe Systems Inc. 

281 ...... PCX ..... Patriot Coal Corp. 

282 ...... SPWRA SunPower Corp. 

284 ...... LCC ..... US Airways Group Inc. 

285 ...... PRU .... Prudential Financial Inc. 

286 ...... LEN ..... Lennar Corp. 

287 ...... EWT .... iShares MSCI Taiwan 

Index Fund. 

288 ...... KBH ..... KB Home. 

289 ...... CREE .. Cree Inc. 

290 ...... SIRI ..... Sirius XM Radio Inc. 

291 ...... MMR ... McMoRan Exploration 

Co. 

292 ...... CENX .. Century Aluminum Co. 

293 ...... GFI ...... Gold Fields Ltd. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with and 

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

of the Act, in that it 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, by 

identifying the options classes to be 

added to the Pilot in a manner 

consistent with prior approvals and 

filings. 

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 proposed rule change is effective 

upon filing pursuant to Section 

19(b)(3)(A)(i) 6 of the Act and Rule 19b– 

4(f)(1) 7 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 rulecomments@sec.gov. Please include File 

Number SR–NYSEArca–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–NYSEArca–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 


emcdonald on DSK2BSOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 90 / Tuesday, May 11, 2010 / Notices 26301 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The rules of BATS Options, including rules 

applicable to BATS Options’ participation in the 

Penny Pilot, were approved on January 26, 2010. 

See Securities Exchange Act Release No. 61419 

(January 26, 2010), 75 FR 5157 (February 1, 2010) 

(SR–BATS–2009–031). BATS Options commenced 

operations on February 26, 2010. This proposal 

represents the first expansion of classes subject to 

the Penny Pilot since BATS Options commenced 

operations. 

4See Rule 21.5 regarding the Penny Pilot. 

5See Securities Exchange Act Release No. 61097 

(December 2, 2009), 74 FR 64788 (December 8, 

2009) (SR–BATS–2009–031) (Notice of Filing of 

Proposed Rule Change to Establish Rules Governing 

the Trading of Options on the BATS Options 

Exchange. 

available for Web site viewing and 

copying in the Commission’s Public 

Reference Section, 100 F Street, NE., 

Washington, DC 20549–1090 on official 

business days between the hours of 10 

a.m. and 3 p.m. Copies of the filing will 

also be available for inspection and 

copying at NYSE 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–2010–39 and 

should be submitted on or before June 

1, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–11093 Filed 5–10–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62033; File No. SR–BATS– 

2010–009] 

Self-Regulatory Organizations; BATS 

Exchange, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change to Add Seventy-Five 

Options Classes to the Penny Pilot 

Program 

May 4, 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 30, 

2010, BATS Exchange, Inc. (the 

‘‘Exchange’’ or ‘‘BATS’’) 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 Exchange. 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 proposal for the BATS 

Exchange Options Market (‘‘BATS 

Options’’) to designate seventy-five 

options classes to be added to the Penny 

Pilot Program (‘‘Penny Pilot’’) on May 3, 

2010.3 The Exchange is not proposing to 

amend any rule text, but simply 

administering or enforcing an existing 

rule.4

The text of the proposed rule change 

is available at the Exchange’s Web site 

at http://www.batstrading.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 

Exchange 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 

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 this filing is to 

identify the next seventy-five options 

classes to be added to the Penny Pilot 

effective May 3, 2010. In the Exchange’s 

filing to adopt rules to govern BATS 

Options,5 the Exchange proposed 

commencing operations for BATS 

Options by trading all options classes 

that were, as of such date, traded by 

other options exchanges pursuant to the 

Penny Pilot and then expanding the 

Penny Pilot on a quarterly basis, 75 

classes at a time, through August 2010. 

Each such quarterly expansion would be 

of the seventy-five most actively traded 

multiply listed options classes based on 

the national average daily volume 

(‘‘ADV’’) 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 the addition of 

options to the Penny Pilot would not be 

used for the purpose of the six month 

analysis. Index option products would 

be included in the quarterly expansions 

if the underlying index levels were 

under 200. 

The Exchange is identifying, in the 

chart below, seventy-five options classes 

that it will add to the Penny Pilot on 

May 3, 2010, based on ADVs for the six 

months ending March 31, 2010. 

Nat’l ranking Symbol Security name Nat’l ranking Symbol Security name 

153 ............ 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. 


emcdonald on DSK2BSOYB1PROD with NOTICES