[Federal Register Volume 75, Number 187 (Tuesday, September 28, 2010)]
[Notices]
[Pages 59773-59777]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-24343]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62977; File No. SR-CBOE-2010-084]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Proposed Rule Change Regarding Registration and 
Qualification Requirements

September 22, 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 September 10, 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 and II 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend its rules regarding qualification 
and registration of individual Trading Permit Holders and associated 
persons. The text of the rule proposal is available on the Exchange's 
Web site (http://www.cboe.org/legal), at the Exchange's Office of the 
Secretary, on the Commission's Web site (http://www.sec.gov), 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
    CBOE is proposing to amend its rules regarding qualification, 
registration and continuing education of individual Trading Permit 
Holders and individual associated persons.\3\ Specifically, in response 
to a request by the Division of Trading and Markets of the U.S. 
Securities and Exchange Commission and in light of recent market 
events, the Exchange is proposing to expand its registration and 
qualification requirements to include additional

[[Page 59774]]

types of individual Trading Permit Holders and individual associated 
persons. The revised requirements apply to both CBOE and CBOE Stock 
Exchange (``CBSX'') Trading Permit Holders and their associated 
persons. CBOE is also proposing to clarify that certain requirements 
throughout Rule 3.6A, including proposed Rule 3.6A(a), 3.6A(b) and 
Interpretation and Policy .03 to 3.6A, apply to both Trading Permit 
Holders and TPH organizations.\4\ The Exchange believes the proposed 
rule changes are consistent with Rule 15b7-1,\5\ promulgated under the 
Securities Exchange Act of 1934, as amended (``Exchange Act''),\6\ 
which provides: ``No registered broker or dealer shall effect any 
transaction in * * * any security unless any natural person associated 
with such broker or dealer who effects or is involved in effecting such 
transaction is registered or approved in accordance with the standards 
of training, experience, competence, and other qualification standards 
* * * established by the rules of any national securities exchange * * 
*''
---------------------------------------------------------------------------

    \3\ CBOE Rule 1.1(qq) provides ``The term `Associated Person' or 
`Person Associated with a Trading Permit Holder' means any partner, 
officer, director or branch manager of a Trading Permit Holder (or 
any person occupying a similar status or performing similar 
functions), any person directly or indirectly controlling, 
controlled by, or under common control with a Trading Permit Holder, 
or any employee of a Trading Permit Holder.'' This filing refers 
specifically to the classification of ``individual associated 
persons'' as an organization could fall within the scope of CBOE 
Rule 1.1(qq) and it is not CBOE's intention to require registration 
by an organization.
    \4\ Section 1.1 of CBOE's By-Laws provides: ``The term `Trading 
Permit Holder' means any individual, corporation, partnership, 
limited liability company or other entity authorized by the Rules 
that holds a Trading Permit. If a Trading Permit Holder is an 
individual, the Trading Permit Holder may also be referred to as an 
`individual Trading Permit Holder.' If a Trading Permit Holder is 
not an individual, the Trading Permit Holder may also be referred to 
as a `TPH organization.' A Trading Permit Holder is a `member' 
solely for purposes of the Act; however, one's status as a Trading 
Permit Holder does not confer on that Person any ownership interest 
in the Exchange.''
    \5\ 17 CFR 240.15b7-1.
    \6\ 15 U.S.C. 78a et seq.
---------------------------------------------------------------------------

    CBOE Rule 3.6A establishes the qualification and registration 
requirements for associated persons of TPH organizations. This rule 
currently establishes registration requirements for a Financial/
Operations Principal for each Trading Permit Holder and TPH 
organization subject to the Exchange Act Rule 15c3-1.\7\ Rule 3.6A also 
references the registration requirements set forth in Chapter IX of the 
Exchange's Rulebook for associated persons of TPH organizations that 
conduct a public customer business.
---------------------------------------------------------------------------

    \7\ 17 CFR 240.15c3-1.
---------------------------------------------------------------------------

    The Exchange is proposing to require additional Trading Permit 
Holders and associated persons to submit the appropriate application 
for registration online through the Central Registration Depository 
system (``Web CRD''), which is operated by the Financial Industry 
Regulatory Authority, Incorporated (``FINRA''), successfully complete 
any qualification examination(s) as prescribed by the Exchange and 
submit any required registration and examination fees. Specifically, 
the Exchange is proposing to move the existing Rule 3.6A(a), governing 
registration requirements for Financial and Operations Principals to 
3.6A(b). CBOE is proposing to add Rule 3.6A(a)(1) that will require 
registration and qualification by individual Trading Permit Holders and 
individual associated persons engaged or to be engaged in the 
securities business of a Trading Permit Holder or TPH organization.\8\
---------------------------------------------------------------------------

    \8\ An individual with an indirect ownership interest in a 
Trading Permit Holder or TPH organization, that is engaged in the 
securities business of such Trading Permit Holder or TPH 
organization, is required to register under proposed Rule 
3.6A(a)(1).
---------------------------------------------------------------------------

    CBOE is also proposing to adopt Interpretation and Policy .06 to 
define what it means to be ``engaged in the securities business of a 
Trading Permit Holder or TPH organization'' for purposes of this rule. 
Specifically, an individual Trading Permit Holder or individual 
associated person shall be considered to be a person engaged in the 
securities business of a Trading Permit Holder or TPH organization if 
(i) the individual Trading Permit Holder or associated person conducts 
proprietary trading, acts as a market-maker, effects transactions on 
behalf of a broker-dealer account, supervises or monitors proprietary 
trading, market-making or brokerage activities on behalf of the broker-
dealer, supervises or conducts training for those engaged in 
proprietary trading, market-making or brokerage activities on behalf of 
a broker-dealer account; or (ii) the individual Trading Permit Holder 
or associated person engages in the management of any individual 
Trading Permit Holder or individual associated person identified in (i) 
above as an officer, partner or director.\9\
---------------------------------------------------------------------------

    \9\ With the exception of its application to sole proprietors 
(as registration of sole proprietors at CBOE is required under 
proposed subparagraph (a) of Interpretation and Policy .06 to Rule 
3.6A), this requirement is consistent with FINRA's registration 
requirement for Principals (as defined in NASD Rule 1021). CBOE is 
declining to adopt the term ``Principal'' in the Exchange Rulebook 
to avoid confusion with existing terms, such as ``Option 
Principal.''
---------------------------------------------------------------------------

    Web CRD has been enhanced by FINRA to allow for general 
registration of applicable Trading Permit Holders and associated 
persons. CBOE will require that all applicable Trading Permit Holders 
and individual associated persons that are not already registered in 
Web CRD, that are required to register under proposed Rule 3.6A, to 
register within 60 days of the approval date of this filing by the U.S. 
Securities and Exchange Commission. CBOE is currently working with the 
Division of Trading and Markets of the U.S. Securities and Exchange 
Commission to identify a reasonable time period for which compliance 
with the additional examination requirements will be required. The 
availability of the appropriate category on Web CRD for any new 
qualification examinations recognized by the Exchange may be subject to 
the timing for any required systems development on Web CRD.
    CBOE is considering various alternatives for an appropriate 
qualification examination(s) for Trading Permit Holders and associated 
persons required to register under proposed Rule 3.6A(a). These 
alternatives include, but are not limited to, the successful completion 
of CBOE's Trading Permit Holder Qualification Examination or the 
development of a new qualification examination.\10\ The Exchange will 
notify its Trading Permit Holders and TPH organizations via regulatory 
circular what qualification examination(s) will be acceptable for 
compliance with the requirements proposed in Rule 3.6A(a)(1). 
Individual Trading Permit Holders or individual associated persons 
acting in the capacity of a sole proprietor, officer, partner, director 
or Chief Compliance Officer will be subject to heightened qualification 
requirements. In addition, an individual Trading Permit Holder or 
individual associated person that is engaged in the supervision or 
monitoring of proprietary trading, market-making or brokerage 
activities and/or that is engaged in the supervision or training of 
those engaged in proprietary trading, market-making or brokerage 
activities with respect to

[[Page 59775]]

those activities will be subject to heightened qualification 
requirements. The Exchange believes that the heightened qualification 
requirements should enhance the supervisory structure for Trading 
Permit Holders and TPH organizations that do not conduct a public 
customer business.
---------------------------------------------------------------------------

    \10\ CBOE has represented to Commission staff that it intends to 
develop, within six months of the approval date of this filing, the 
appropriate qualification examination(s) for the individual Trading 
Permit Holders and associated persons that will be required to 
register following the approval of this filing. Once the development 
of an examination(s) has been completed, the implementation and 
effective date will be subject to approval by the Commission and any 
necessary systems development schedules to implement the 
examination. If the Exchange does not complete development of the 
examination(s) within six months of the approval date of this 
filing, the Exchange will establish a deadline for qualification 
based on the existing categories of registration and qualification 
examinations available on Web CRD, until such time as the 
development and implementation of an alternative examination(s) has 
been completed. The referenced categories of registration available 
on Web CRD include, but may not be limited to, the General 
Securities Representative (GS) and General Securities Principal 
(GP), as applicable to the type of business activities conducted. 
The accompanying qualification examination for the General 
Securities Representative is the Series 7 and the accompanying 
qualification examination for the General Securities Principal is 
the Series 24.
---------------------------------------------------------------------------

    The Exchange is also proposing to add Rule 3.6A(a)(2) to identify 
several categories of persons that are exempt from these additional 
registration requirements. The categories of individual Trading Permit 
Holders and associated persons that are exempt from the registration 
requirements set forth in Rule 3.6A(a)(1) include (i) Individual 
associated persons functioning solely and exclusively in a clerical or 
ministerial capacity; (ii) individual Trading Permit Holders and 
individual associated persons that are not actively engaged in the 
securities business, (iii) individual Trading Permit Holders and 
individual associated persons functioning solely and exclusively to 
meet a Trading Permit Holder's or TPH organization's need for nominal 
corporate officers or for capital participation; and (iv) individual 
associated persons whose functions are solely and exclusively related 
to transactions in commodities, transactions in security futures and/or 
effecting transactions on the floor of another national securities 
exchange and who are registered as floor members with such exchange. 
The Exchange believes these registration exemptions are appropriate 
because CBOE would not consider individuals that fall into the 
exemptions to be actively engaged in securities business unless they 
are registered as floor members on another national securities 
exchange, in which case, they are already registered as floor members 
and not required to register at CBOE.\11\ CBOE believes incorporating 
these exemptions into the rule provides additional clarity to 
individual Trading Permit Holders and individual associated persons as 
to who will or will not be required to register under the proposed 
rule. Any applicable FINRA registration requirements would continue to 
apply to Trading Permit Holders and TPH organizations that are also 
members of FINRA.
---------------------------------------------------------------------------

    \11\ The Commission notes that these firms must comply with 
Section 15(b)(8) of the Act.
---------------------------------------------------------------------------

    The Exchange is proposing to move the existing Rule 3.6A(b), 
referencing the types of associated persons required to register under 
Chapter IX of CBOE's Rules, to Rule 3.6A(d). CBOE is also proposing to 
clarify the language in this section to make it clear that individual 
associated persons, including Registered Options Principals and 
Registered Representatives, are also subject to the registration 
requirements set forth in Chapter IX of CBOE's Rules. Chapter IX is 
generally applicable to TPH organizations that conduct a public 
customer business.
    The Exchange is also proposing to adopt Rule 3.6A(c) to require the 
designation of a Chief Compliance Officer by Trading Permit Holders and 
TPH organizations that are registered broker-dealers, which designation 
shall be updated on Schedule A of Form BD. Under the proposed rule, the 
Chief Compliance Officer shall be required to register and pass the 
appropriate qualification examination as prescribed by the 
Exchange.\12\ This is consistent with FINRA Rule 3130 requiring 
designation of at least one Chief Compliance Officer on Schedule A of 
Form BD. In addition, NASD Rule 1022 requires registration by each 
person designated as Chief Compliance Officer on Schedule A of Form BD. 
CBOE is also proposing to implement a limited exemption from the 
requirement to pass the appropriate qualification examination by a 
Chief Compliance Officer. Specifically, a person that has been 
designated as a Chief Compliance Officer on Schedule A of Form BD for 
at least two years immediately prior to January 1, 2002, and who has 
not been subject within the last ten years to any statutory 
disqualification as defined in Section 3(a)(39) of the Act; a 
suspension; or the imposition of a $5,000 or more fine for a 
violation(s) of any provision of any securities law or regulation, or 
any agreement with, rule or standard of conduct of any securities 
governmental agency, securities self-regulatory organization, or as 
imposed by any such self-regulatory organization in connection with a 
disciplinary proceeding, shall be required to register in the category 
of registration appropriate to the function to be performed as 
prescribed by the Exchange, but shall be exempt from the requirement to 
pass the heightened qualification examination as prescribed by the 
Exchange.
---------------------------------------------------------------------------

    \12\ The appropriate qualification examination for a Chief 
Compliance Officer is the Series 14 (Compliance Official). CBOE is 
working with FINRA to establish this category of registration and 
make the accompanying qualification examination available at CBOE on 
Web CRD.
---------------------------------------------------------------------------

    The Exchange is proposing to adopt Rule 3.6A(e) to set forth the 
requirements for examinations where there is a lapse in registration. 
Specifically, an individual Trading Permit Holder or individual 
associated person shall be required to pass the appropriate 
qualification examination for the category of registration if the 
individual Trading Permit Holder's or individual associated person's 
registration has been revoked by the Exchange as a disciplinary 
sanction or whose most recent registration has been terminated for a 
period of two or more years.
    The Exchange is proposing to move the language in the existing 
Interpretation and Policy .01 to Interpretation and Policy .02. The 
Exchange is proposing to add language to Interpretation and Policy .01 
requiring each individual Trading Permit Holder or individual 
associated person subject to the registration requirements in Rule 3.6A 
to electronically file a Uniform Application for Securities Industry 
Registration through Web CRD.
    The Exchange is also proposing to move the existing Interpretation 
and Policies .02 and .03 to Interpretation and Policies .03 and .04, 
respectively. The Exchange is also proposing to modify the proposed 
Interpretation and Policies .02, .03 and .04 to remove the existing 
references to those with ``an associated person status'' enumerated 
under paragraph (a) or (b) of the current Rule 3.6A and extend the 
applicability to all individual Trading Permit Holders or individual 
associated persons subject to the registration requirements in Rule 
3.6A.
    The Exchange is also proposing to adopt Interpretation and Policy 
.05 to Rule 3.6A. This will enable the Exchange to waive the 
qualification examination requirement where good cause is shown. 
Similar rules are in place at the New York Stock Exchange, Inc. 
(``NYSE'') and FINRA.\13\ In determining whether a waiver shall be 
granted, the Exchange shall consider, among other things, previous 
industry employment, training and/or the successful completion of 
similar qualification examinations of other self-regulatory 
organizations.
---------------------------------------------------------------------------

    \13\ See NASD Rule 1070--Qualification Examinations and Waiver 
of Requirements and NYSE Rule 345--Employees--Registration, 
Approval, Records.
---------------------------------------------------------------------------

    In addition, the Exchange is proposing to add Interpretation and 
Policy .07 that will require registration and successful completion of 
a heightened qualification examination by at least two individuals that 
are each an officer, partner or director of each Trading Permit Holder 
or TPH organization that is a registered broker-dealer and has trading 
privileges on the Exchange.\14\ However, please note that

[[Page 59776]]

all individuals who engage in supervisory functions of the Trading 
Permit Holder's or TPH organization's securities business shall be 
required to register and pass the appropriate heightened qualification 
examination(s) relevant to the particular category of registration. 
Trading Permit Holders that are sole proprietors are exempt from this 
requirement. In addition, the Exchange may waive the requirement to 
have two officers, partners and/or directors registered if a Trading 
Permit Holder or TPH organization conclusively demonstrates that only 
one officer, partner or director should be required to register. For 
example, a TPH organization could conclusively demonstrate that only 
one individual is required to register if such TPH organization is 
owned by one individual (such as a single member limited liability 
company), such individual acts as the only trader on behalf of the TPH 
organization, and the TPH organization employs only one other 
individual who functions only in a clerical capacity. The ability to 
waive this registration requirement is consistent with similar FINRA 
rules regarding principal registration.\15\
---------------------------------------------------------------------------

    \14\ With the exception of its application to sole proprietors, 
this requirement is consistent with the registration requirement set 
forth in NASD Rule 1021 addressing registration of two Principals 
(as defined in NASD Rule 1021).
    \15\ See NASD Rule 1021(e).
---------------------------------------------------------------------------

    CBOE is also proposing to allow a Trading Permit Holder or TPH 
organization that conducts proprietary trading only and has 25 or fewer 
registered persons to have only one officer or partner registered under 
this section rather than two. This exception is similar to that of 
several other exchanges and reflects that such Trading Permit Holders 
or TPH organizations do not necessitate the same level of supervisory 
structure as those Trading Permit Holders or TPH organizations that 
have customers or are larger in size. For purposes of this 
Interpretation and Policy .07 to Rule 3.6A, a Trading Permit Holder or 
TPH organization shall be considered to conduct only proprietary 
trading if it has the following characteristics: (i) the Trading Permit 
Holder or TPH organization is not required by Section 15(b)(8) of the 
Exchange Act to become a FINRA member but is a member of another 
registered securities exchange not registered solely under Section 6(g) 
of the Exchange Act; (ii) all funds used or proposed to be used by the 
Trading Permit Holder or TPH organization are the Trading Permit 
Holder's or TPH organization's own capital, traded through the Trading 
Permit Holder's or TPH organization's own accounts; (iii) the Trading 
Permit Holder or TPH organization does not, and will not, have 
customers; and (iv) all persons registered on behalf of the Trading 
Permit Holder or TPH organization acting or to be acting in the 
capacity of a trader must be owners of, employees of, or contractors to 
the Trading Permit Holder or TPH organization. The description of what 
constitutes proprietary trading for purposes of this Interpretation and 
Policy .07 to Rule 3.6A is appropriate in that it provides additional 
clarity for Trading Permit Holders and individual associated persons to 
evaluate whether two individuals are required to register.
    In conjunction with the additional registration requirements, the 
Exchange is proposing to delete a reference in Interpretation and 
Policy .01 to Rule 9.3A that excludes those people whose activities are 
limited solely to the transaction of business on the Floor with Trading 
Permit Holders or registered broker-dealers from the definition of 
``registered person'' for purposes of Rule 9.3A. The changes proposed 
to Interpretation and Policy .04 of Rule 3.6A would subject individual 
Trading Permit Holders and individual associated persons whose 
activities are limited solely to the transaction of business on the 
Floor with Trading Permit Holders or registered broker dealers to the 
continuing education requirements set forth in Rule 9.3A or any other 
continuing education requirements as prescribed by the Exchange.
    This filing also proposes to make several technical and/or non-
substantive changes. First, the Exchange is proposing to modify the 
title of Rule 3.6A to delete the term ``Certain'' and to clarify that 
the registration requirements set forth in Rule 3.6A also apply to 
specified Trading Permit Holders. The Exchange is also proposing to 
make a technical change to proposed Rule 3.6A(b) that will replace the 
reference to the ``Department of Financial and Sales Practice 
Compliance'' with the ``Exchange'' because the Exchange no longer has a 
department by that name. In addition, the Exchange is proposing to 
replace the two references in this section to ``in a form and manner 
prescribed by the Exchange'' with ``as prescribed by the Exchange'' for 
consistency throughout Rule 3.6A. The Exchange is also proposing to 
amend several references in CBOE Rules 3.6A, 9.2 and 9.3. Specifically, 
these rules currently reference ``NASD's Web CRD System.'' Since NASD 
is now known as FINRA, CBOE is proposing to change this reference to 
``Web CRD.'' The Exchange is proposing to clarify Rule 9.3(c) relating 
to amended Form U-5 to provide ``the facts or circumstances giving rise 
to the need for the amendment'' rather than ``facts and circumstances 
giving rise to the amendment.'' Finally, CBOE is proposing to replace 
language relating to ``said termination notice'' in Rule 9.3(b) and 
``notice'' in Rule 9.3(c) with ``Form U-5'' for specificity.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
Section 6(b) of the Act,\16\ in general, and furthers the objectives of 
Section 6(b)(5) of the Act,\17\ which requires, among other things, 
that the Exchange's rules be designed to remove impediments to and 
perfect the mechanism of a free and open market and a national market 
system, and protect investors and the public interest. Specifically, 
the enhanced registration and qualification requirements will provide 
additional protection to investors and further promote the public 
interest.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78f(b).
    \17\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    In addition, the Exchange believes that the proposed rule change is 
consistent with Section 6(c) of the Act,\18\ in general, and furthers 
the objectives of Section 6(c)(3)(B) of the Act,\19\ which provides, 
among other things, that a national securities exchange may bar a 
natural person from becoming associated with a member if such natural 
person does not meet the standards of training, experience and 
competence as prescribed by the rules of the national securities 
exchange. The Exchange also believes that the proposed rule change 
furthers the objectives of Section 6(c)(3)(C) of the Act,\20\ which 
provides, among other things, that a national securities exchange may 
bar any person from becoming associated with a member if such person 
does not agree to supply the exchange with such information with 
respect to its dealings with the member as may be specified by the 
rules of the exchange and to permit the examination of its books and 
records to verify the accuracy of any information so supplied.
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78f(c).
    \19\ 15 U.S.C. 78f(c)(3)(B).
    \20\ 15 U.S.C. 78f(c)(3)(C).
---------------------------------------------------------------------------

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.

[[Page 59777]]

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    The Exchange neither solicited nor received comments on the 
proposal.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Within 45 days of the date of publication of this notice in the 
Federal Register or within such longer period up to 90 days (i) as the 
Commission may designate if it finds such longer period to be 
appropriate and publishes its reasons for so finding or (ii) as to 
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove the proposed rule change, or
    (B) Institute proceedings to determine whether the proposed rule 
change should be disapproved.

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

    <bullet> Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
    <bullet> Send an e-mail to <a href="/cdn-cgi/l/email-protection#a3d1d6cfc68ec0cccecec6cdd7d0e3d0c6c08dc4ccd5"><span class="__cf_email__" data-cfemail="ea989f868fc7898587878f849e99aa998f89c48d859c">[email protected]</span></a>. Please include 
File No. SR-CBOE-2010-084 on the subject line.

Paper Comments

    <bullet> 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 No. SR-CBOE-2010-084. 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 Web site (http://www.sec.gov/rules/sro.shtml). Copies 
of the submission,\21\ 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 such filing also will be available for inspection and 
copying at the principal office of CBOE. 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 No. SR-CBOE-2010-084 and should be submitted on or 
before October 19, 2010.
---------------------------------------------------------------------------

    \21\ The text of the proposed rule change is available on the 
Commission's Web site at http://www.sec.gov.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\22\
---------------------------------------------------------------------------

    \22\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-24343 Filed 9-27-10; 8:45 am]
BILLING CODE 8010-01-P


</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>