6428 Federal Register / Vol. 75, No. 26 / Tuesday, February 9, 2010 / Notices 

9 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3An ROT is a regular member or a foreign 

currency options participant of the Exchange 

located on the trading floor who has received 

permission from the Exchange to trade in options 

for his own account. 

4 In addition to the fees for QQQQ, IWN and C 

options, Non-Streaming ROTs will be assessed the 

fees applicable to Standard and Poor’s Depositary 

Receipts/SPDRs (‘‘SPY’’). See SR–Phlx–2009–116. 

5An SQT is an Exchange Registered Options 

Trader (‘‘ROT’’) who has received permission from 

the Exchange to generate and submit option 

quotations electronically through an electronic 

interface with AUTOM via an Exchange approved 

proprietary electronic quoting device in eligible 

options to which such SQT is assigned. See 

Exchange Rule 1014(b)(ii)(A). 

6An RSQT is an ROT that is a member or member 

organization with no physical trading floor 

presence who has received permission from the 

Exchange to generate and submit option quotations 

electronically through AUTOM in eligible options 

to which such RSQT has been assigned. An RSQT 

may only submit such quotations electronically 

from off the floor of the Exchange. See Exchange 

Rule 1014(b)(ii)(B). 

7 ‘‘Directed Order’’ means any customer order 

(other than a stop or stop-limit order as defined in 

Rule 1066) to buy or sell which has been directed 

to a particular specialist, RSQT, or SQT by an Order 

Flow Provider, as defined below. To qualify as a 

Directed Order, an order must be delivered to the 

Exchange via AUTOM. 

8For the purposes of this fee, a Directed Customer 

is an order from a customer directed to a Directed 

Participant for execution. A Directed Participant is 

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 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 Number SR–Phlx– 

2010–18 and should be submitted on or 

before March 2, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–2787 Filed 2–8–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–61480; File No. SR–Phlx– 

2010–14] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NASDAQ 

OMX PHLX, Inc. Relating to 

Transaction Fees and Rebates for 

Options 

February 3, 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 

26, 2010, NASDAQ OMX PHLX, Inc. 

(‘‘Phlx’’ or ‘‘Exchange’’) 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 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 the 

Exchange’s Fee Schedule by adopting, 

on a pilot basis, per contract transaction 

fees for options overlying the 

PowerShares QQQ Trust (‘‘QQQQ’’)®; 

Ishares Russell 2000 (‘‘IWM’’) and 

Citigroup Inc. (‘‘C’’). The fees would 

apply to: (i) Transaction sides that 

remove liquidity from the Exchange’s 

disseminated market, and (ii) Firm and 

broker-dealer quotes and orders that are 

included in the Exchange’s 

disseminated market. 

Additionally, the Exchange proposes 

to offer a transaction rebate to certain 

liquidity providers, as described more 

fully below. 

While changes to the Exchange’s fee 

schedule pursuant to this proposal are 

effective upon filing, the Exchange has 

designated this proposal to be operative 

for trades settling on or after February 

1, 2010. The proposed changes to the fee 

schedule will be effective on a pilot 

basis, scheduled to expire March 2, 

2010. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http:// 

nasdaqomxphlx.cchwallstreet.com/ 

NASDAQOMXPHLX/Filings/, at the 

principal office of the Exchange, at the 

Commission’s Public Reference Room, 

and on the Commission’s Web site at 

http://www.sec.gov. 

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 

Exchange 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 

Exchange 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 the proposed rule 

change is to increase liquidity and to 

attract order flow in QQQQ, IWM and 

C options on the Exchange. 

Transaction Charges for Removing 

Liquidity 

The Exchange proposes to assess a 

per-contract transaction charge in 

QQQQ, IWM and C options on six 

different categories of market 

participants that submit orders and/or 

quotes that remove, or ‘‘take,’’ liquidity 

from the Exchange. The per-contract 

transaction charge would depend on the 

category of market participant 

submitting an order or quote to the 

Exchange that removes liquidity. 

The proposed amendments to the 

Exchange’s Fee Schedule would break 

down market participants by the 

following six categories: (i) Specialists, 

Registered Options Traders (‘‘ROTs’’) 3

that do not submit electronic quotations 

(‘‘Non-Streaming ROTs’’),4 Streaming 

Quote Traders (‘‘SQTs’’),5 and Remote 

Streaming Quote Traders (‘‘RSQTs’’),6

(ii) customers that submit orders that are 

not Directed Orders 7 (‘‘Non-Directed 

Customers’’); (iii) customers that submit 

Directed Orders (‘‘Directed 

Customers’’); 8 (iv) specialists, SQTs and 


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Federal Register / Vol. 75, No. 26 / Tuesday, February 9, 2010 / Notices 6429 

a Specialist, SQT, or RSQT that executes an order 

directed to it for execution. 

9See Exchange Rule 1080(l), ‘‘ * * * The term 

‘Directed Specialist, RSQT, or SQT’ means a 

specialist, RSQT, or SQT that receives a Directed 

Order.’’ A Directed Participant has a higher quoting 

requirement as compared with a specialist, SQT or 

RSQT who is not acting as a Directed Participant. 

See Exchange Rule 1014. 

10See proposed rule change SR–Phlx–2009–104. 

11See Securities Exchange Act Release No. 61337 

(January 12, 2010), 75 FR 2905 (January 19, 2010) 

(SR–Phlx–2009–104.) 

12An ‘‘Eligible MAP’’ is defined in the Exchange’s 

Fee Schedule in the Market Access Provider 

Subsidy. 

13See Securities Exchange Act Release No. 59537 

(March 9, 2009), 74 FR 11151 (March 16, 2009) (SR– 

Phlx–2009–19). 

14See Securities Exchange Act Release No. 59841 

(April 29, 2009), 74 FR 21035 (May 6, 2009) (SR– 

Phlx–2009–38). 

15With respect to electronic auctions, it is 

systemically difficult to determine which 

participant(s) would qualify for a rebate, therefore 

the Exchange has determined not to apply the 

rebate to transactions resulting from electronic 

auctions. 

16COLA is the automated Complex Order Live 

Auction process. A COLA may take place upon 

identification of the existence of a COLA-eligible 

order either: (1) Following a COOP, or (2) during 

normal trading if the Phlx XL system receives a 

Complex Order that improves the cPBBO. See 

Exchange Rule 1080. 

17Market Exhaust occurs when there are no Phlx 

XL II participant (specialist, SQT or RSQT) 

quotations in the Exchange’s disseminated market 

for a particular series and an initiating order in the 

series is received. In such a circumstance, the Phlx 

XL II system, using Market Exhaust, will initiate a 

Market Exhaust auction for the initiating order. 

Under Market Exhaust, any order volume that is 

routed to away markets will be marked as an 

Intermarket Sweep Order or ‘‘ISO.’’ See Exchange 

Rule 1082. 

18See Exchange Rule 1017. 

19See Securities Exchange Act Release No. 60578 

(August 27, 2009), 74 FR 45666 (September 3, 2009) 

(SR–Phlx–2009–72). 

20See Securities Exchange Act Release No. 60188 

(June 29, 2009), 74 FR 32986 (July 9, 2009) (SR– 

Phlx–2009–48). 

21See Securities Exchange Act Release No. 60210 

(July 1, 2009), 74 FR 32989 (July 9, 2009) (SR–Phlx– 

2009–53). This pilot is scheduled to expire on July 

31, 2010. The Exchange understands that certain 

exchanges continue to utilize Linkage to send P/A 

Orders. 

22The Options Floor Broker Management System 

(‘‘FBMS’’) is a component of the Exchange’s system 

designed to enable Floor Brokers and/or their 

employees to enter, route and report transactions 

stemming from options orders received on the 

Exchange. The Options Floor Broker Management 

System also is designed to establish an electronic 

audit trail for options orders represented and 

executed by Floor Brokers on the Exchange, such 

that the audit trial provides an accurate, timesequenced record of electronic and other orders, 

quotations and transactions on the Exchange, 

beginning with the receipt of an order by the 

Exchange, and further documenting the life of the 

order through the process of execution, partial 

execution, or cancellation of that order. AUTOM is 

the Exchange’s electronic order delivery and 

reporting system, which provides for the automatic 

entry and routing of Exchange-listed equity options, 

index options and U.S. dollar-settled foreign 

currency options orders to the Exchange trading 

floor. See Exchange Rule 1080, Commentary .06. 

RSQTs that receive Directed Orders 

(‘‘Directed Participants’’ or ‘‘Directed 

Specialists, RSQTs, or SQTs’’ 9); (v) 

Firms; and (vi) broker-dealers. 

The per-contract transaction charges 

to be assessed on participants who 

submit proprietary quotes and/or orders 

that remove liquidity in QQQQ, IWM 

and C options from the Exchange in 

QQQQ, IWM and C options are, by 

category: 

Category Charge 

(per contract) 

Specialist, ROT, SQT, 

RSQT ............................ $0.40 

Non-Directed Customer .... 0.40 

Directed Customer ............ 0.25 

Directed Participants ........ 0.30 

Firms ................................. 0.45 

Broker-Dealers .................. 0.45 

Transaction Charges for Adding 

Liquidity 

The Exchange proposes to assess a 

transaction charge of $0.35 per contract 

to Firms and $0.45 per contract to 

broker-dealers. 

Rebates 

In order to promote and encourage 

liquidity in QQQQ, IWM and C options, 

the Exchange proposes to amend its fee 

schedule to include a per-contract 

rebate relating to transaction charges for 

orders or quotations that add liquidity 

in QQQQ, IWM and C options. The 

amount of the rebate would depend on 

the category of participant whose order 

or quote was executed as part of the 

PHLX Best Bid and Offer. Specifically, 

the per-contract rebates are, by category: 

Category Rebate 

(per contract) 

Specialist, ROT, SQT, 

RSQT ............................ $0.20 

Non-Directed Customer .... 0.05 

Directed Customer ............ 0.20 

Directed Participants ........ 0.25 

Firms ................................. N/A 

Broker-Dealers .................. N/A 

Applicability of Other Fees 

• The $900,000 monthly cap that is 

currently applicable to ROTs and 

specialists transacting equity options 

will not be applicable to the fees 

described herein.10

• The $85,000 Firm Related Equity 

Option Cap will not be applicable to the 

fees described herein.11

• The Exchange pays a per-contract 

Market Access Provider (‘‘MAP’’) 

Subsidy to any Exchange member 

organization that qualifies as an Eligible 

MAP.12 The MAP Subsidy will not 

apply to electronic transactions in 

QQQQ, IWM and C.13

• Payment for Order Flow fees 14 will 

not be collected on transactions in 

QQQQ, IWM and C options. 

• All electronic auctions will be free 

to Non-Directed Customers, Directed 

Customers, Directed Participants, 

Specialists, SQTs and RSQTs.15

Electronic auctions include, without 

limitation, the Complex Order Live 

Auction (‘‘COLA’’),16 and Quote and 

Market Exhaust auctions.17 Firms and 

broker-dealers will be assessed the 

appropriate charge for removing 

liquidity. 

• The fees described herein will not 

apply to contracts executed during the 

Exchange’s opening process.18 Firms 

and broker-dealers will be assessed the 

appropriate charge for removing 

liquidity. 

• The Exchange pays an Options 

Floor Broker Subsidy to member 

organizations with Exchange registered 

Floor Brokers for eligible contracts that 

are entered into the Exchange’s Options 

Floor Broker Management System. The 

Options Floor Broker Subsidy will be 

applicable to the transactions described 

herein.19

• The Exchange assesses a 

Cancellation Fee of $2.10 per order on 

member organizations for each 

cancelled electronically delivered 

customer order in excess of the number 

of customer orders executed on the 

Exchange by that member organization 

in a given month.20 The Cancellation 

Fee will continue to apply. 

• Transaction fees for Linkage ‘‘P’’ and 

‘‘P/A’’ Orders would be applicable to the 

transaction listed herein.21

• Regular Equity Option transaction 

fees will apply to Complex Orders that 

are electronically executed against a 

contra-side order with the same 

Complex Order Strategy. 

• Single contra-side orders that are 

executed against the individual 

components of Complex Orders will be 

charged under the proposed Fee 

Schedule. The individual components 

of such a Complex Order will not be 

charged. 

• QQQQ, IWM and C transactions 

executed via open outcry will be subject 

to the standard equity options fee 

schedule. However, if one side of the 

transaction is executed using the 

Options Floor Broker Management 

System 22 and any other side of the trade 

was the result of an electronically 

submitted order or a quote, then the fees 

proposed herein will apply to the FBMS 

contracts and contracts that are 

executed electronically on all sides of 

the transaction. 


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6430 Federal Register / Vol. 75, No. 26 / Tuesday, February 9, 2010 / Notices 

23See SR–Phlx–2009–116. 

24 15 U.S.C. 78f(b). 

25 15 U.S.C. 78f(b)(4). 

26NYSE Amex currently charges different rates to 

different market participants in assessing its firm 

facilitation fee. See Securities Exchange Act Release 

No. 60378 (July 23, 2009), 74 FR 38245 (July 31, 

2009) (SR–NYSEAmex–2009–38). 

27A P/A order is an order for the principal 

account of a specialist (or equivalent entity on 

another participant exchange that is authorized to 

represent public customer orders), reflecting the 

terms of a related unexecuted Public Customer 

order for which the specialist is acting as agent. 

28A Principal Order is an order for the principal 

account of an Eligible Market Maker and is not a 

P/A Order. 

29See Securities Exchange Act Release No. 60210 

(July 1, 2009), 74 FR 32989 (July 9, 2009) (SR–Phlx– 

2009–53). 

The Effect of Current Fees Applicable to 

SPY 

The proposed fees for options 

overlying QQQQ, IWM and C currently 

apply to options overlying SPY.23 The 

Exchange began charging the same fees 

for SPY beginning with trades settling 

on or after January 4, 2010 on a pilot 

basis, scheduled to expire March 2, 

2009 (the ‘‘pilot’’). As stated above, the 

proposed fees for QQQQ, IWM and C 

options will be made part of the pilot. 

Prior to the implementation of the 

pilot respecting SPY options, the 

percentage of customer orders in SPY 

options executed on the Exchange that 

were Directed Customer orders was 

83.6%. Since the implementation of the 

pilot in SPY options, 93.8% are now 

Directed Customer orders. This change 

suggests that charging different rates for 

Directed and Non-Directed Customer 

orders creates an incentive for member 

organizations to direct customer order 

flow to an Exchange specialist, SQT or 

RSQT. The economic benefit of 

directing order flow to Exchange 

specialists, SQTs and RSQTs, coupled 

with the incentive based pricing for 

providing liquidity, have resulted in 

narrower spreads and increased size in 

the Exchange’s disseminated market in 

SPY options. Furthermore, the 

Exchange’s disseminated size in SPY 

options represents a higher percentage 

of the National Best Bid/Offer (‘‘NBBO’’) 

in SPY options since the 

implementation of the pilot. Because of 

this, the Exchange has routed fewer 

customer orders to away markets, 

thereby providing customers with faster 

and more efficient executions at the 

NBBO on the Exchange, and reducing 

the number of instances in which the 

liquidity disseminated by away markets 

might be executed before such routed 

orders arrive. 

The Exchange expects that this 

pricing model will affect its markets for 

options overlying QQQQ, IWM and C in 

the same way it has affected its markets 

for SPY options. The economic 

incentives to direct orders to Exchange 

Directed Participants, and the 

concomitant narrowed spreads, 

increased liquidity, more frequent 

NBBO pricing, and overall market 

efficiencies experienced by the 

Exchange in SPY options should also be 

realized in QQQQ, IWM and C options. 

The proposal benefits customers, the 

investing public and the options 

markets on the Exchange in particular, 

and on the options markets as a whole. 

The Exchange is also proposing to 

make a minor modification to the Fee 

Schedule to remove all plural references 

in the categories. 

The proposed changes to the fee 

schedule will be effective for 

transactions settling on or after February 

1, 2010, and will be effective for a pilot 

period scheduled to expire March 2, 

2010. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its schedule of fees 

is consistent with Section 6(b) of the 

Act 24 in general, and furthers the 

objectives of Section 6(b)(4) of the Act 25

in particular, in that it is an equitable 

allocation of reasonable fees and other 

charges among Exchange members. The 

impact of the amendments upon the net 

fees paid by a particular market 

participant will depend on a number of 

variables, including its monthly 

volumes, the order types it uses, and the 

prices of its quotes and orders (i.e., its 

propensity to add or remove liquidity). 

Specifically, the Exchange believes 

that its proposal to charge a different fee 

and to pay a different rebate for NonDirected Customers relative to Directed 

Customers is an equitable allocation of 

reasonable fees and other charges among 

Exchange members, and is consistent 

with the current fee schedule and 

industry fee assessments of member 

firms that allow for different rates to be 

charged for different order types 

originated by dissimilarly classified 

market participants.26

The Exchange notes that orders routed 

to the Exchange as Principal Acting as 

Agent Orders (‘‘P/A Orders’’) 27 via the 

Intermarket Option Linkage (‘‘Linkage’’) 

under the Plan for the Purpose of 

Creating and Operating an Intermarket 

Option Linkage (the ‘‘Plan’’) accounted 

for most of the Non-Directed order flow 

the Exchange received in the symbols 

affected under the instant proposal. The 

participating U.S. options exchanges 

determined to withdraw from the Plan 

and, on June 17, 2008, the Exchange 

filed an executed copy of the Options 

Order Protection and Locked/Crossed 

Market Plan (‘‘New Plan’’), joining all 

other approved options markets in 

adopting the New Plan. The concept of 

P/A orders routed through a central 

Linkage ‘‘hub’’ does not exist under the 

New Plan. P/A Orders were routed to 

remove liquidity from the Exchange 

under the Plan; orders routed from away 

markets to remove liquidity are now 

routed directly to the Exchange, in large 

part as Non-Directed Customer orders. 

The Exchange assessed transaction fees 

applicable to the execution of P/A 

Orders, but did not assess transaction 

fees on customer orders sent to the 

Exchange outside the Linkage. The 

Exchange also charged different percontract transaction fees for P/A Orders 

and Principal Orders (‘‘P Orders’’) 28 sent 

to remove liquidity from the Exchange. 

The Exchange charged $0.45 per option 

contract for P Orders sent to the 

Exchange and $.30 per contract for P/A 

Orders,29 while charging nothing for 

customer orders submitted to the 

Exchange outside the Linkage. The 

Exchange believes that Non-Directed 

Customers now ‘‘stand in the shoes’’ of 

what were previously P/A Orders, and 

the proposed transaction charges 

applicable to Non-Directed Customers 

are similar to the charges that applied to 

P/A Orders. Thus, these proposed fees 

are not unfairly discriminatory relative 

to the proposed fees for Directed 

Customers, based upon the precedent of 

charging for P/A Orders but not for 

customer orders sent outside the 

Linkage. 

Order flow providers that control 

customer order flow and route customer 

orders to exchanges are responsible to 

obtain the best pricing available for their 

customers. An order flow provider has 

the ability to enter into arrangements 

whereby they may receive consideration 

for directing the customer order to a 

specific market maker (specialists, SQTs 

and/or RSQTs). Under the proposal, a 

Directed Customer would be charged a 

lower per-contract transaction fee, and 

would receive a higher rebate, based on 

such an arrangement. 

The Exchange operates in a highly 

competitive market in which market 

participants can readily direct order 

flow to competing venues if they deem 

fee levels at a particular exchange to be 

excessive or unfair. The Exchange 

believes that the fees it charges for 

options overlying QQQQ, IWM and C 

remain competitive with fees charged by 

other venues, provides incentives that 

improve execution quality and therefore 

continue to be reasonable and equitably 

allocated to those members that opt to 


Cprice-sewell on DSK2BSOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 26 / Tuesday, February 9, 2010 / Notices 6431 

30 15 U.S.C. 78s(b)(3)(A)(ii). 

31 17 CFR 240.19b–4(f)(2). 32 17 CFR 200.30–3(a)(12). 

send order flow to the Exchange rather 

alternative options exchanges. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange 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 either 

solicited or received. 

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)(A)(ii) of the Act 30 and 

paragraph (f)(2) of Rule 19b–4 31

thereunder. 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–Phlx–2010–14 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–Phlx–2010–14. 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–Phlx– 

2010–14 and should be submitted on or 

before March 2, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.32

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–2786 Filed 2–8–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting 

Notice is hereby given, pursuant to 

the provisions of the Government in the 

Sunshine Act, Public Law 94–409, that 

the Securities and Exchange 

Commission will hold a Closed Meeting 

on Thursday, February 11, 2010 at 2 

p.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the Closed Meeting. Certain 

staff members who have an interest in 

the matters also may be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, one or 

more of the exemptions set forth in 5 

U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) 

and 17 CFR 200.402(a)(3), (5), (7), 9(ii) 

and (10), permit consideration of the 

scheduled matters at the Closed 

Meeting. 

Commissioner Paredes, as duty 

officer, voted to consider the items 

listed for the Closed Meeting in a closed 

session. 

The subject matter of the Closed 

Meeting scheduled for Thursday, 

February 11, 2010 will be: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings; 

An adjudicatory matter; and 

Other matters relating to enforcement 

proceedings. 

At times, changes in Commission 

priorities require alterations in the 

scheduling of meeting items. 

For further information and to 

ascertain what, if any, matters have been 

added, deleted or postponed, please 

contact: The Office of the Secretary at 

(202) 551–5400. 

Dated: February 4, 2010. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–2972 Filed 2–5–10; 4:15 pm] 

BILLING CODE 8011–01–P 

DEPARTMENT OF TRANSPORTATION 

Office of the Secretary 

Notice of Applications for Certificates 

of Public Convenience and Necessity 

and Foreign Air Carrier Permits Filed 

Under Subpart B (formerly Subpart Q) 

During the Week Ending January 9, 

2010. 

The following Applications for 

Certificates of Public Convenience and 

Necessity and Foreign Air Carrier 

Permits were filed under Subpart B 

(formerly Subpart Q) of the Department 

of Transportation’s Procedural 

Regulations (See 14 CFR 301.201 et. 

seq.). The due date for Answers, 

Conforming Applications, or Motions to 

Modify Scope are set forth below for 

each application. Following the Answer 

period DOT may process the application 

by expedited procedures. Such 

procedures may consist of the adoption 

of a show-cause order, a tentative order, 

or in appropriate cases a final order 

without further proceedings. 

Docket Number: DOT–OST–2010– 

0001. 

Date Filed: January 4, 2010. 

Due Date for Answers, Conforming 

Applications, or Motion to Modify 

Scope: January 25, 2010. 

Description: Application of Craig Air 

Center, Inc. requesting authority to 


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