Federal Register / Vol. 73, No. 196 / Wednesday, October 8, 2008 / Notices 59007 

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

4 17 CFR 19b–4(f)(2). 

5 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3A Firm ID is a 3–5 character identification code. 

ISE establishes a unique Firm ID for each ISE 

member firm. 

Exchange believes increasing its 

cancellation fees is reasonable and 

equitable in that it will allow the 

Exchange to recoup some of the costs of 

administering and processing cancelled 

orders. 

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 3 and Rule 19b–4(f)(2) 4

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 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–ISE–2008–70 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–ISE–2008–70. 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. and 3 p.m. 

Copies of the 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–2008–70 and should be 

submitted on or before October 29, 

2008. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.5

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–23760 Filed 10–7–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58701; File No. SR–ISE– 

2008–74] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to a New Order Type 

October 1, 2008. 

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 

September 29, 2008, 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 selfregulatory 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 allow for the use 

of attributable orders. The text of the 

proposed rule amendment is as follows, 

with deletions in [brackets] and 

additions in italics: 

Rule 715. Types of Orders 

(a)–(g) No Change. 

(f) Attributable Order. An Attributable 

Order is a market or limit order which 

displays the user firm ID for purposes of 

electronic trading on the Exchange. Use 

of Attributable Orders is voluntary. 

Attributable Orders may not be 

available for all Exchange systems. The 

Exchange will issue a Regulatory 

Information Circular specifying the 

systems and the class of securities for 

which the Attributable Order type shall 

be available. 

* * * * * 

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 

(a) Purpose—The Exchange proposes 

to modify Rule 715 (Types of Orders) to 

allow for the submission of attributable 

orders. These market or limit orders 

allow users to voluntarily display their 

firm IDs on the orders.3 The NASDAQ 

Options Market, LLC (‘‘NOM’’) currently 

allows its participants to submit 

attributable orders (See NOM Chapter 

VI, Section (1)(d)(1)). The Chicago Board 


jlentini on PROD1PC65 with NOTICES
59008 Federal Register / Vol. 73, No. 196 / Wednesday, October 8, 2008 / Notices 

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

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

6 17 C.F.R. 240.19b–4(f)(6). 

7 Id. 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

Options Exchange also recently adopted 

the use of attributable orders (See CBOE 

Rule 6.53(o)). As proposed, the 

Exchange may limit the systems/ 

processes and the class of securities for 

which attributable orders will be 

available. Prior to turning on this 

functionality, ISE will issue a regulatory 

circular specifying the systems and the 

options classes for which the 

attributable order type will be available. 

This proposal is responsive to requests 

by Exchange users who believe that 

enhanced executions may be obtained if 

Firm ID is allowed on orders (on a 

voluntary basis). 

(b) Basis—The Exchange believes the 

proposed rule change is consistent with 

the Securities Exchange Act of 1934 (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.4 Specifically, the Exchange 

believes the proposed rule change is 

consistent with Section 6(b)(5) of the 

Act’s5 requirements that the rules of a 

national securities 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 

proposed rule change will allow for 

greater customization by providing 

users with an additional order type. 

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 

This proposed rule change does not 

significantly affect the protection of 

investors or the public interest, does not 

impose any significant burden on 

competition, and, by its terms, does not 

become operative for 30 days after the 

date of the filing, or such shorter time 

as the Commission may designate if 

consistent with the protection of 

investors and the public interest. The 

Exchange provided the Commission 

with 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 

the proposed rule change as required by 

Rule 19b–4(f)(6).6 For the foregoing 

reasons, the Exchange believes the 

proposed rule filing qualifies for 

immediate effectiveness as a ‘‘noncontroversial’’ rule change under 

paragraph (f)(6) of Rule 19b–4 of the 

Act.7

The Exchange believes the proposed 

rule change is non-controversial in that 

it is similar to the rules of the CBOE and 

the NOM. Further, the Exchange 

believes the proposed rule change may 

assist investors by allowing market 

participants the benefits of attributable 

orders. The Exchange also believes that 

the proposed rule change does not raise 

any new, unique or substantive issues, 

and is beneficial for competitive 

purposes and to promote a free and 

open market for the benefit of investors. 

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–ISE–2008–74 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–ISE–2008–74. 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. and 3 p.m. 

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–2008–74 and should be 

submitted on or before October 29, 

2008. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–23764 Filed 10–7–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–58710; File No. SR–ISE– 

2008–63] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Order Approving Proposed Rule 

Change Relating to the Price 

Improvement Mechanism 

October 1, 2008. 

I. Introduction 

On July 31, 2008, the International 

Securities Exchange, LLC (‘‘Exchange’’ 

or ‘‘ISE’’) filed with the Securities and 

Exchange Commission (‘‘Commission’’), 

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

Securities Exchange Act of 1934 

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


jlentini on PROD1PC65 with NOTICES