Federal Register / Vol. 75, No. 25 / Monday, February 8, 2010 / Notices 6239 

10 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3The Penny Pilot was established in March 2008 

and in October 2009 was expanded and extended 

through December 31, 2010. See Securities 

Exchange Act Release Nos. 57579 (March 28, 2008), 

73 FR 18587 (April 4, 2008)(SR–NASDAQ–2008– 

026)(notice of filing and immediate effectiveness 

establishing Penny Pilot); 60874 (October 23, 

2009)(SR–NASDAQ–2009–091)(notice of filing and 

immediate effectiveness expanding and extending 

Penny Pilot); and 60965 (November 9, 2009)(SR– 

NASDAQ–2009–097)(notice of filing and immediate 

effectiveness adding seventy-five classes to Penny 

Pilot). 

4See Chapter VI, Section 5 regarding the Penny 

Pilot. 

5See Securities Exchange Act Release No. 60874 

(October 23, 2009), 74 FR 56682 (November 2, 

2009)(SR–NASDAQ–2009–091)(notice of filing and 

immediate effectiveness). 

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–2010–02 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–ISE–2010–02. 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 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– 

2010–02 and should be submitted on or 

before March 1, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–2587 Filed 2–5–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61455; File No. SR– 

NASDAQ–2010–013] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

a Proposed Rule Change To Add 

Seventy-Five Options Classes to the 

Penny Pilot Program 

February 1, 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 January 

25, 2010, The NASDAQ Stock Market 

LLC (‘‘Nasdaq’’) filed with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) the proposed rule 

change as described in Items I, II and III 

below, which Items have been prepared 

by Nasdaq. 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 

Nasdaq is filing with the Securities 

and Exchange Commission (‘‘SEC’’ or 

‘‘Commission’’) a proposal for the 

NASDAQ Options Market (‘‘NOM’’ or 

‘‘Exchange’’) to designate seventy-five 

options classes to be added to the Penny 

Pilot Program (‘‘Penny Pilot’’ or ‘‘Pilot’’) 

on February 1, 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 from Nasdaq’s Web site at 

http://nasdaq.cchwallstreet.com/ 

Filings/, at Nasdaq’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, 

Nasdaq 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. Nasdaq 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 purpose of this filing is to 

identify the next seventy-five options 

classes to be added to the Penny Pilot 

effective February 1, 2010. 

In the Exchange’s immediately 

effective filing to extend and expand the 

Penny Pilot through December 31, 

2010,5 the Exchange proposed 

expanding the Pilot four times on a 

quarterly basis. Each such quarterly 

expansion would be of the next seventyfive 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; however, the month 

immediately preceding the addition of 

options to the Penny Pilot will 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 

February 1, 2010, based on ADVs for the 

six months ending December 31, 2009. 

Nat’l ranking Symbol Company name Nat’l ranking Symbol Company name 

131 ......................................... ABT Abbott Laboratories 192 ....................................... LEAP Leap Wireless International 

Inc. 

169 ......................................... AEM Agnico-Eagle Mines Ltd 205 ....................................... LLY Eli Lilly & Co. 

151 ......................................... AET Aetna Inc 162 ....................................... LO Lorillard Inc. 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES

6240 Federal Register / Vol. 75, No. 25 / Monday, February 8, 2010 / Notices 

6 15 U.S.C. 78f(b). 

7 15 U.S.C. 78f(b)(5). 

8 15 U.S.C. 78s(b)(3)(A)(i). 

9 17 CFR 240.19b–4(f)(1). 

Nat’l ranking Symbol Company name Nat’l ranking Symbol Company name 

156 ......................................... AFL Aflac Inc 152 ....................................... LOW Lowe’s Cos Inc. 

181 ......................................... AKAM Akamai Technologies Inc 176 ....................................... M Macy’s Inc. 

178 ......................................... AMAT Applied Materials Inc 155 ....................................... MCO Moody’s Corp. 

117 ......................................... AMR AMR Corp 217 ....................................... MET MetLife Inc. 

166 ......................................... ANF Abercrombie & Fitch Co 187 ....................................... MMM 3M Co. 

172 ......................................... APC Anadarko Petroleum Corp 140 ....................................... MU Micron Technology Inc. 

209 ......................................... ATVI Activision Blizzard Inc 177 ....................................... NUE Nucor Corp. 

145 ......................................... BBD Banco Bradesco SA 157 ....................................... OXY Occidental Petroleum Corp. 

190 ......................................... BCRX BioCryst Pharmaceuticals 

Inc 

158 ....................................... PARD Poniard Pharmaceuticals 

Inc. 

218 ......................................... BK Bank of New York Mellon 

Corp/The 

150 ....................................... PEP PepsiCo Inc/NC. 

194 ......................................... BRCM Broadcom Corp 141 ....................................... PM Philip Morris International 

Inc. 

184 ......................................... BTU Peabody Energy Corp 185 ....................................... PNC PNC Financial Services 

Group Inc. 

144 ......................................... BX Blackstone Group LP 216 ....................................... QID ProShares UltraShort QQQ. 

200 ......................................... CAL Continental Airlines Inc 149 ....................................... SHLD Sears Holdings Corp. 

211 ......................................... CF CF Industries Holdings Inc 175 ....................................... SLM SLM Corp. 

142 ......................................... CMCSA Comcast Corp 212 ....................................... SLW Silver Wheaton Corp. 

203 ......................................... CSX CSX Corp 215 ....................................... SQNM Sequenom Inc. 

143 ......................................... CVS CVS Caremark Corp 153 ....................................... STEC STEC Inc. 

174 ......................................... CX Cemex SAB de CV 219 ....................................... STX Seagate Technology. 

183 ......................................... DD EI du Pont de Nemours & 

Co 

202 ....................................... SU Suncor Energy Inc. 

146 ......................................... ERTS Electronic Arts Inc 207 ....................................... TCK Teck Resources Ltd. 

121 ......................................... EWJ iShares MSCI Japan Index 

Fund 

196 ....................................... TEVA Teva Pharmaceutical Industries Ltd. 

186 ......................................... FDX FedEx Corp 135 ....................................... TLT iShares Barclays 20+ Year 

Treasury Bond Fund. 

118 ......................................... FNM Federal National Mortgage 

Association 

214 ....................................... TZA Direxion Daily Small Cap 

Bear 3X Shares. 

182 ......................................... FRE Federal Home Loan Mortgage Corp 168 ....................................... UAUA UAL Corp. 

179 ......................................... GILD Gilead Sciences Inc 154 ....................................... URE ProShares Ultra Real Estate. 

198 ......................................... GLW Corning Inc 180 ....................................... UTX United Technologies Corp. 

170 ......................................... HBC HSBC Holdings PLC 204 ....................................... WFR MEMC Electronic Materials 

Inc. 

197 ......................................... HES Hess Corp 115 ....................................... WFT Weatherford International 

Ltd. 

161 ......................................... HL Hecla Mining Co 165 ....................................... WLP WellPoint Inc. 

193 ......................................... HOG Harley-Davidson Inc 191 ....................................... XLB Materials Select Sector 

SPDR Fund. 

206 ......................................... HON Honeywell International Inc 173 ....................................... XRX Xerox Corp. 

210 ......................................... JOYG Joy Global Inc 148 ....................................... XTO XTO Energy Inc. 

213 ......................................... JWN Nordstrom Inc 130 ....................................... YRCW YRC Worldwide Inc.

137 ......................................... KFT Kraft Foods Inc ..............................................

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 6 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 7

in particular, in that it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, and to remove 

impediments to and perfect the 

mechanisms of a free and open market 

and a national market system, by 

identifying the options classes to be 

added to the Penny Pilot in a manner 

consistent with prior approvals and 

filings. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Nasdaq does not believe that the 

proposed rule change will result in 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 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Pursuant to Section 19(b)(3)(A)(i) of 

the Act 8 and Rule 19b–4(f)(1) 

thereunder,9 Nasdaq has designated this 

proposal as one constituting a stated 

policy, practice, or interpretation with 

respect to the meaning, administration, 

or enforcement of an existing rule. 

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, 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES

Federal Register / Vol. 75, No. 25 / Monday, February 8, 2010 / Notices 6241 

10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Nasdaq interprets the requirement to disclose 

information through the news media to be satisfied 

by the issuance of a press release. 

4 17 CFR 243.100–103. Regulation FD permits a 

company to disclose material information using a 

method (or combination of methods) of disclosure 

that is reasonably designed to provide broad, nonexclusionary distribution of the information to the 

public. 

5Exchange Act Release No. 46901 (November 25, 

2002), 67 FR 72011 (December 3, 2002). 

6Exchange Act Release No. 49424 (March 16, 

2004), 69 FR 15594 (March 25, 2004). 

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–NASDAQ–2010–013 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–NASDAQ–2010–013. 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 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 No. 

SR–NASDAQ–2010–013 and should be 

submitted on or before March 1, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–2584 Filed 2–5–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61461; File No. SR– 

NASDAQ–2010–006] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing of Proposed Rule Change To 

Modify the Press Release 

Requirements for Listed Companies 

February 1, 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 January 

13, 2010, The NASDAQ Stock Market 

LLC (‘‘Nasdaq’’) 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 Nasdaq. 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 the Substance 

of the Proposed Rule Change 

Nasdaq proposes to modify certain of 

the press release requirements for listed 

companies. Nasdaq will implement the 

proposed rule upon approval. The text 

of the proposed rule change is available 

from Nasdaq’s Web site at http:// 

nasdaq.cchwallstreet.com, at Nasdaq’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, 

Nasdaq 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. Nasdaq 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 

There are a number of Nasdaq rules 

related to the issuer compliance process 

that require a company to disclose 

information in a press release or through 

the news media.3 These rules generally 

were adopted to address inconsistent 

issuer disclosure practices and reflected 

the view, prevalent at that time, that 

issuing a press release was the only way 

to assure wide dissemination of an 

important event. However, in 2002, after 

the Commission adopted Regulation 

FD,4 Nasdaq amended its rules to allow 

listed companies to provide disclosure 

of material news via any Regulation FD 

compliant means.5 Since that time 

Nasdaq has had the opportunity to 

observe market reaction to news 

disclosed in ways other than via a press 

release. Nasdaq’s experience since 

adopting this rule indicates that there is 

broad acceptance of Regulation FD 

compliant methods of disclosure, such 

as through the use of a Form 8–K. 

In addition, the Commission has 

substantially modified its rules 

regarding the disclosure of information 

on a Form 8–K.6 As a result Nasdaq’s 

requirements in some instances are 

duplicative of the Form 8–K 

requirements and Nasdaq sees 

companies forced to make multiple 

disclosures regarding the same event. 

Nasdaq believes that investors have 

come to rely upon Form 8–K disclosure 

and notes that Form 8–K disclosures are 

readily available to investors and the 

information reported on them is widely 

reported on by the news media. As 

such, to the extent information is 

reported on a Form 8–K, Nasdaq 

believes that duplicate disclosure 

through a press release is unnecessary 

and an extra burden on listed 

companies. 

Given the foregoing, Nasdaq believes 

it is appropriate to modify the following 

rules to permit disclosure either through 

a press release or by filing a Form 8–K 

where required by Commission rules: 

WReier-Aviles on DSKGBLS3C1PROD with NOTICES