62614 Federal Register / Vol. 75, No. 196 / Tuesday, October 12, 2010 / Notices 

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 Nos. 34– 

61349 (January 14, 2010), 75 FR 3511 (January 21, 

2010) (SR–CBOE–2010–004) and 34–60910 (October 

30, 2009), 74 FR 57718 (November 9, 2009) (SR– 

CBOE–2010–083). In both cases, the Commission 

waived the 30-day operative delay period. 

6 15 U.S.C. 78s(b)(1). 

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

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

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

10 17 CFR 240.19b–4(f)(6). In addition, Rule 

19b–4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of the Exchange’s 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 Commission 

has waived the five-day pre-filing requirement in 

this case. 

11See, e.g., NASDAQ Stock Market Rule 4617 and 

NASDAQ OMX PHLX Rule 101. 

12For the purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. See 15 U.S.C. 78(c)(f). 

Dated: October 6, 2010. 

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. 2010–25677 Filed 10–7–10; 11:15 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63035; File No. SR–CBOE– 

2010–090] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Modify Trading Hours 

for CBSX 

October 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 

September 29, 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 Exchange filed the 

proposal as a ‘‘non-controversial’’ 

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 

The Exchange proposes for the CBOE 

Stock Exchange (‘‘CBSX’’) to modify its 

CBSX Extended Trading Hours to 

permit trading to open at 7:30 a.m. 

Central Time and continue until 

3:45 p.m. Central Time. The text of the 

proposed rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.org/legal), 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 

CBOE 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 

Currently, CBSX is open for trading 

from 8 a.m. until 3:30 p.m. (all times 

Central unless otherwise denoted), with 

the time period from 8:30 a.m. until 

3 p.m. designated as CBSX Regular 

Trading Hours and the time periods 

from 8 a.m. until 8:30 a.m. and 3 p.m. 

until 3:30 p.m. designated as CBSX 

Extended Trading Hours. The Exchange 

has, in the past, made similar changes 

to extend CBSX trading hours.5 CBSX 

proposes to extend its hours of business 

to open for trading at 7:30 a.m. and 

close trading at 3:45 p.m. This change 

would not affect CBSX Regular Trading 

Hours; the new trading periods 

(7:30 a.m. until 8 a.m. and 3:30 p.m. 

until 3:45 p.m.) would merely extend 

the CBSX Extended Trading Hours. 

The Exchange represents that the 

modified opening and closing times will 

have no implications for CBSX systems. 

The Exchange represents that CBSX 

traders will have been notified of the 

time change via circular prior to the rule 

change taking effect. Lastly, the 

Exchange represents that appropriate 

surveillance will be in place for the new 

trading hours. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with the Act 6

and the rules and regulations 

thereunder and, in particular, the 

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

Specifically, the Exchange believes the 

proposed rule change is consistent with 

the Section 6(b)(5) 8 requirements that 

the rules of an exchange be designed to 

promote just and equitable principles of 

trade, to prevent fraudulent and 

manipulative acts, to remove 

impediments to and to perfect the 

mechanism for a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest. Permitting trading 

earlier in the morning and until later in 

the day will permit investors greater 

opportunity to participate in the market, 

thereby removing an impediment to 

trading. 

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 

The Exchange neither solicited nor 

received comments on the proposal. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing 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, 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

The Exchange has requested that the 

Commission waive the 30-day operative 

delay. The Commission believes that 

waiving the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because such waiver will permit market 

participants to trade on CBSX in 

extended trading hours that are 

available on other exchanges.11

Accordingly, the Commission 

designates the proposed rule change 

operative upon filing with the 

Commission.12

At any time within 60 days of the 

filing of the proposed rule change, the 


srobinson on DSKHWCL6B1PROD with NOTICES
Federal Register / Vol. 75, No. 196 / Tuesday, October 12, 2010 / Notices 62615 

13 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4Each unit represents an equal, fractional, 

undivided ownership interest in the net assets of 

the Trust attributable to the particular class of units. 

5Commodity-Based Trust Shares are securities 

issued by a trust that represent investors’ discrete 

identifiable and undivided beneficial ownership 

interest in the commodities deposited into the 

Trust. 

6See Securities Exchange Act Release No. 58956 

(November 14, 2008), 73 FR 71074 (November 24, 

2008) (SR–NYSEArca–2008–124) (approving listing 

on the Exchange of the iShares Silver Trust). 

7See Securities Exchange Act Release No. 53521 

(March 20, 2006), 71 FR 14967 (March 24, 2006) 

(SR–Amex–2005–72) (approving listing on the 

American Stock Exchange LLC of the iShares Silver 

Trust). 

8See Securities Exchange Act Release No. 59781 

(April 17, 2009), 74 FR 18771 (April 24, 2009) (SR– 

NYSEArca–2009–28) (approving listing on the 

Exchange of the ETFS Silver Trust). 

9See Securities Exchange Act Release No. 59895 

(May 8, 2009), 74 FR 22993 (May 15, 2009) (SR– 

NYSEArca–2009–40) (approving listing on the 

Exchange of the ETFS Gold Trust). 

10See Securities Exchange Act Release No. 61496 

(February 4, 2010) 75 FR 6758 (February 10, 2010) 

(NYSEArca–2009–113) (approving listing on the 

Exchange of Sprott Physical Gold Trust); Securities 

Exchange Act Release No. 56224 (August 8, 2007), 

72 FR 45850 (August 15, 2007) (SR–NYSEArca– 

2007–76) (approving listing on the Exchange of the 

streetTRACKS Gold Trust); Securities Exchange Act 

Release No. 56041 (July 11, 2007), 72 FR 39114 

(July 17, 2007) (SR–NYSEArca–2007–43) 

(approving listing on the Exchange of iShares 

COMEX Gold Trust). 

Commission summarily may 

temporarily suspend 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–2010–090 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–2010–090. 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 website 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 

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 

Number SR–CBOE–2010–090 and 

should be submitted on or before 

November 2, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–25453 Filed 10–8–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63043; File No. SR– 

NYSEArca–2010–84] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and Order 

Granting Accelerated Approval of a 

Proposed Rule Change To List and 

Trade Shares of the Sprott Physical 

Silver Trust 

October 5, 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 

September 22, 2010, NYSE Arca, Inc. 

(the ‘‘Exchange’’ or ‘‘NYSE Arca’’) 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 selfregulatory organization. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons and is 

approving the proposed rule change on 

an accelerated basis. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to list and 

trade units 4 of the Sprott Physical 

Silver Trust (the ‘‘Trust’’) under NYSE 

Arca Equities Rule 8.201. The text of the 

proposed rule change is available at the 

Exchange, the Commission’s Public 

Reference Room, and http:// 

www.nyse.com. 

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 

The Exchange proposes to list and 

trade units (‘‘Units’’) of the Trust under 

NYSE Arca Equities Rule 8.201. Under 

NYSE Arca Equities Rule 8.201, the 

Exchange may propose to list and/or 

trade pursuant to unlisted trading 

privileges (‘‘UTP’’) ‘‘Commodity-Based 

Trust Shares.’’ 5 The Commission has 

approved listing of the iShares Silver 

Trust on the Exchange 6 and, previously, 

listing of the iShares Silver Trust on the 

American Stock Exchange LLC (now 

known as ‘‘NYSE Amex LLC’’).7 Further, 

the Commission has also approved 

listing on the Exchange under NYSE 

Arca Equities Rule 8.201 shares of ETFS 

Silver Trust 8 and ETFS Gold Trust.9

The Commission also has previously 

approved listing on the Exchange of 

shares of the Sprott Physical Gold Trust, 

streetTRACKS Gold Trust, and iShares 

COMEX Gold Trust.10 Prior to their 

listing on the Exchange, the 

Commission approved listing of the 


srobinson on DSKHWCL6B1PROD with NOTICES