67416 Federal Register / Vol. 75, No. 211 / Tuesday, November 2, 2010 / Notices 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6) 

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

6 15 U.S.C. 78f(b)(5). 

7 15 U.S.C. 78s(b)(3)(A). 

8 17 CFR 210.19b–4(f)(3). 

identifying information from 

submissions. You should submit only 

information that you wish to make 

available publicly. All submissions 

should refer to File Number SR– 

NASDAQ–2010–135 and should be 

submitted on or before November 23, 

2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–27664 Filed 11–1–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63195; File No. SR–BX– 

2010–070] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change Making Clerical 

and Grammatical Corrections to 

Chapter VII, Section 1 (Exercise of 

Options Contracts) of the Boston 

Options Exchange Group, LLC Rules 

October 27, 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 October 

20, 2010, NASDAQ OMX BX, Inc. (the 

‘‘Exchange’’) 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 the Exchange. The 

Exchange filed the proposed rule change 

pursuant to Section 19(b)(3)(A)(i) of the 

Act 3 and Rule 19b–4(f)(3) thereunder,4

which renders the proposal effective 

upon filing with the Commission. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of the Substance 

of the Proposed Rule Change 

NASDAQ OMX BX, Inc. proposes to 

amend the Rules of the Boston Options 

Exchange Group, LLC (‘‘BOX’’) to make 

a clerical correction to Chapter VII, 

Section 1 (Exercise of Options 

Contracts) of the BOX Rules. The 

Exchange shall implement this rule 

proposal immediately. The text of the 

proposed rule change is available on the 

Exchange’s Web site at http:// 

nasdaqomxphlx.cchwallstreet.com/ 

NASDAQOMXBX/Filings/, at the 

principal office of the Exchange, on the 

Commission’s Web site at http:// 

www.sec.gov, 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 

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 Exchange is proposing to make a 

clerical correction to the rule text of 

Chapter VII, Section 1 (Exercise of 

Options Contracts) of the BOX Rules. 

The Exchange proposes to correct 

inadvertent typographical and 

grammatical errors. 

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with the 

requirements of Section 6(b) of the Act,5

in general, and Section 6(b)(5) of the 

Act,6 in particular, in that it is designed 

to promote just and equitable principles 

of trade, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, to 

prevent fraudulent and manipulative 

acts, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system and, in general, to protect 

investors and the public interest. The 

proposed rule change will allow the 

Exchange to correct inadvertent 

typographical and grammatical errors. 

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 Regarding the 

Proposed Rule Change Received From 

Members, Participants or Others 

The Exchange has neither solicited 

nor received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

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

Act 7and Rule 19b–4(f)(3) thereunder,8

the Exchange has designated this 

proposal as one that is concerned solely 

with the administration of the selfregulatory organization. Accordingly, 

the Exchange believes that its proposal 

should become immediately effective. 

At any time within 60 days of the filing 

of the proposed rule change, the 

Commission summarily may 

temporarily suspend the rule change if 

it appears to the Commission that the 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or would otherwise further 

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–BX–2010–070 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–BX–2010–070. 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, all 

subsequent amendments, all written 

statements with respect to the proposed 

rule change that are filed with the 


hsrobinson on DSK69SOYB1PROD with NOTICES
Federal Register / Vol. 75, No. 211 / Tuesday, November 2, 2010 / Notices 67417 

9 17 CFR 200.30–3(a)(12). 

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). 

5The Exchange would also have the authority to 

determine whether to change the trading platform 

on which the group of series trades and change the 

eligible categories of Market-Maker participants for 

the group. 

6Specifically, the group of series could be 

designated to trade on the Hybrid Trading System 

without a DPM or LMM provided the following 

conditions, as applicable, are satisfied: (1) There are 

at least four (4) Market-Makers quoting in the group 

of series; (2) Each Market-Maker with an 

appointment in the group of series is subject to the 

continuous quoting obligations imposed by CBOE 

Rule 8.7(d); and (3) In the event the Exchange 

activates request-for-quote (‘‘RFQ’’) functionality 

(which has not been activated for any class traded 

on the Exchange), each Market-Maker would have 

an obligation to respond to that percentage of RFQs 

as determined by the Exchange for the group of 

series subject to certain requirements specified in 

Rule 8.14(b)3. 

7To the extent that the Exchange would 

determine to designate SPX end-of-week series for 

trading on the Hybrid Trading System without a 

DPM or LMM, certain conditions set forth in Rule 

8.14(b) would have to be satisfied, as applicable. Id. 

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 

publicly available. All submissions 

should refer to File Number SR–BX– 

2010–070 and should be submitted on 

or before November 23, 2010. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 2010–27670 Filed 11–1–10; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–63186; File No. SR–CBOE– 

2010–095] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Related to Hybrid 3.0 

Classes 

October 27, 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 October 

25, 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, II, and 

III below, which Items have been 

prepared by the Exchange. The 

Exchange filed the proposal as a ‘‘noncontroversial’’ 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 is proposing to amend 

its rules that relate to the designation of 

index options and options on exchangetraded funds (‘‘ETFs’’) for trading on 

CBOE’s Hybrid Trading System and 

Hybrid 3.0 Platform and eligible 

categories of Market-Maker participants. 

The text of the proposed rule change is 

available on the Exchange’s Web site 

(http://www.cboe.org/Legal,) at the 

Exchange’s Office of the Secretary 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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange is proposing to amend 

its rules that relate to the designation of 

index options and options on ETFs for 

trading on the Hybrid Trading System 

and Hybrid 3.0 Platform. The ‘‘Hybrid 

Trading System’’ refers to the 

Exchange’s trading platform that allows 

Market-Makers to submit electronic 

quotes in their appointed classes. The 

‘‘Hybrid 3.0 Platform’’ is an electronic 

trading platform on the Hybrid Trading 

System that allows one or more quoters 

to submit electronic quotes which 

represent the aggregate Market-Maker 

quoting interest in the series for the 

trading crowd. 

Currently, the particular trading 

platform on which such an option 

contract is traded and the eligible 

categories of Market-Maker participants 

for those options are designated by the 

Exchange on a class-by-class basis 

pursuant to Rule 8.14, Index Hybrid 

Trading System Classes: Market-Maker 

Participants. The Exchange is now 

proposing to amend this rule as it 

relates to classes designated for trading 

on the Hybrid 3.0 Platform. Specifically, 

the Exchange is proposing to provide 

that, for each Hybrid 3.0 class, the 

Exchange may determine to authorize a 

group of series of the class for trading 

on the Hybrid Trading System and, if 

that authorization is granted, the 

Exchange would determine the eligible 

categories of Market-Maker participants 

for that group of series.5 The Exchange 

would assign a Designated Primary 

Market-Maker (‘‘DPM’’) or Lead MarketMaker (‘‘LMM’’) to the group of series. 

Alternatively, the Exchange could 

determine to designate the group of 

series for trading without a DPM or 

LMM provided certain conditions set 

forth in Rule 8.14(b) are satisfied with 

respect to the group of series.6

EXAMPLE (for illustrative purposes only): 

Currently options on the Standard & Poor’s 

500 Index (symbol SPX) are the only class of 

options traded on the Hybrid 3.0 Platform. 

Pursuant to the proposed rule change, the 

Exchange could determine to designate all 

end-of-week option series in the SPX option 

class for trading on the Hybrid Trading 

System without a DPM or LMM.7 All other 

series of the SPX option class could continue 

to be designated for trading on the Hybrid 3.0 

Platform with two rotating LMMs. 

When selecting series to trade on the 

Hybrid Trading Platform, the Exchange 

intends to generally select series with 

common expirations or classifications, 

e.g., end-of-week series or end-of-month 

series, short term option series, or series 

that expire on a particular expiration 

date. The Exchange notes that an 

individual series would only trade on 

one trading platform at a given time, not 

both. What trading platform an 

individual series trades on is controlled 

by CBOE in how the series is set up in 


hsrobinson on DSK69SOYB1PROD with NOTICES