Federal Register / Vol. 75, No. 105 / Wednesday, June 2, 2010 / Notices 30889 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6). 

5See Securities Exchange Act Release No. 59824 

(April 27, 2009), 74 FR 20518 (May 4, 2009) (SR– 

CBOE–2009–018). 

6 If the Exchange is not open for business on a 

Friday, the Short Term Opening Date will be the 

first business day immediately prior to that Friday. 

Similarly if the Exchange is not open for business 

on a Friday, the Short Term Option Expiration Date 

will be the first business day immediately prior to 

that Friday. 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(5). 

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 such 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 

publicly available. All submissions 

should refer to File Number SR– 

NASDAQ–2010–063 and should be 

submitted on or before June 23, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–13158 Filed 6–1–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62170; File No. SR–CBOE– 

2010–048] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Permit CBOE To Open 

Short Term Option Series on 

Thursdays 

May 25, 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 May 19, 

2010, the Chicago Board Options 

Exchange, Incorporated (‘‘Exchange’’ or 

‘‘CBOE’’) 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 Exchange. The 

Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change 

pursuant to Section 19(b)(3)(A)(iii) of 

the Act 3 and Rule 19b–4(f)(6) 

thereunder.4 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 

CBOE proposes to modify its rules to 

permit the Exchange, on any Thursday 

or Friday, to open Short Term Option 

Series that expire on the Friday of the 

following business week. The Exchange 

is not proposing any rule text changes. 

The rule proposal is available on the 

Exchange’s Web site (http:// 

www.cboe.org/legal), at the Exchange’s 

Office of the Secretary and at the 

Commission. 

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 Securities and Exchange 

Commission previously approved 

CBOE’s proposed rule change to 

permanently establish the Short Term 

Option Series Pilot Program 

(‘‘Program’’).5 The Program allows CBOE 

to list and trade equity and index option 

series that expire one week after being 

opened for trading. Specifically, Rules 

5.5(d) and 24.9 provide that, after an 

option class has been approved for 

listing and trading on the Exchange, the 

Exchange may open for trading on any 

Friday that is a business day series of 

options on that class that expire on the 

next Friday that is a business day.6

Under the Program, CBOE may select up 

to five approved option classes on 

which Short Term Options Series may 

be opened. The Exchange has selected 

the following four option classes to 

participate in the Program: S&P 500 

Index options (SPX), S&P 100 Index 

American-style options (OEX), MiniS&P 500 Index options (XSP), and S&P 

100 Index European-style options 

(XEO). 

The purpose of this filing is to permit 

the Exchange to open Short Term 

Option Series on any Thursday (or 

Friday) that expire on the Friday of the 

following business week. In support of 

this modification, the Exchange states 

that it has received requests to begin 

certain Short Term Options on 

Thursday so that market participants 

may have an opportunity to ‘‘roll’’ 

expiring positions; that is, trade out of 

an expiring Short Term Option Series 

and re-establish a new position in Short 

Term Option Series expiring one week 

later. Since the last trading day for 

A.M.-settled Short Term Options on 

indexes is generally a Thursday, and 

new A.M.-settled Short Term Option 

Series on indexes are generally listed on 

Friday, new and expiring A.M.-settled 

Short Term Option Series on indexes 

are never available concurrently. 

As a result, it is impossible to 

implement a position roll in A.M.- 

settled Short Term Options on indexes. 

The Exchange has been advised that 

opening A.M.-settled Short Term 

Options on indexes just one day earlier, 

and providing an opportunity to roll, 

would enhance the value A.M.-settled 

Short Term Options on indexes as a risk 

management tool. 

In order to avoid investor confusion, 

the Exchange is proposing to permit the 

listing of all Short Term Option series 

(equity and index) on any Thursday or 

Friday. As proposed, the rule changes 

give the Exchange the flexibility to list 

Short Term Option series on any 

Thursday or Friday, and do not restrict 

listing to a particular day. 

2. Statutory Basis 

The Exchange believes this rule 

proposal is consistent with the Act and 

the rules and regulations under the Act 

applicable to a national securities 

exchange and, in particular, the 

requirements of Section 6(b) of the Act.7

Specifically, the Exchange believes that 

the proposed rule change is consistent 

with the Section 6(b)(5) Act 8

requirements that the rules of an 

exchange be designed to promote just 

and equitable principles of trade, to 

prevent fraudulent and manipulative 

acts and, in general, to protect investors 

and the public interest. In particular, the 


sroberts on DSKD5P82C1PROD with NOTICES
30890 Federal Register / Vol. 75, No. 105 / Wednesday, June 2, 2010 / Notices 

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

10 17 CFR 240.19b–4(f)(6). Rule 19b–4(f)(6)(iii) 

requires the self-regulatory organization to submit 

to the Commission written notice of its 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 this requirement. 11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

proposed rule change will benefit 

market participants by allowing them to 

more closely manage their risk 

exposures and carry out their 

investment objectives. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

CBOE does not believe that the 

proposed rule change will impose any 

burden on competition 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 

Because the foregoing proposed rule 

does not (i) significantly affect the 

protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 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, 

provided that the self-regulatory 

organization has given the Commission 

written notice of its intent to file 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 proposed rule change 

has become effective pursuant to 

Section 19(b)(3)(A) of the Act 9 and Rule 

19b–4(f)(6) thereunder.10 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 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–CBOE–2010–048 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–CBOE–2010–048. 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–CBOE– 

2010–048 and should be submitted on 

or before June 23, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–13160 Filed 6–1–10; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–62159; File No. SR–NYSE– 

2010–36] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change To Amend the 

Exchange Price List 

May 24, 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 May 7, 

2010, New York Stock Exchange LLC 

(‘‘NYSE’’ or ‘‘Exchange’’) 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 proposes to amend its 

2010 Price List to delete references to 

two fees that are no longer applicable. 

The text of the proposed rule change is 

available on the Exchange’s Web site at 

http://www.nyse.com, on the 

Commission’s Web site at http:// 

www.sec.gov, 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 NYSE 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 

1. Purpose 

The Exchange’s 2010 Price List 

includes (i) a fee of $5,000 payable in 

connection with a new application for 

NYSE membership by a limited liability 


sroberts on DSKD5P82C1PROD with NOTICES