27856 Federal Register / Vol. 74, No. 111 / Thursday, June 11, 2009 / Notices 

9 15 U.S.C. 78f(b)(5). 

10 15 U.S.C. 78k–1(a)(1). 

11 17 CFR 200.30–3(a)(12). 

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

a customer may choose to route an order 

to NYBX in order to include more 

flexible instructions in the order. For 

example, an order entered in the NYBX 

Facility can include a minimum 

triggering volume (‘‘MTV’’) instruction, 

which would require that the Book have 

sufficient contra-side liquidity before 

the order in NYBX attempts to execute. 

No execution of an NYBX order will be 

attempted if the MTV is not met. 

The Exchange believes that the 

proposed d-Quote functionality is 

similar to how orders in the NYBX 

Facility are treated, in that orders in that 

facility do not require the Exchange 

contra-side liquidity to be at the 

Exchange BBO before the NYBX order is 

triggered for execution. Therefore, the 

benefit from this proposed d-Quote 

functionality is already available in 

another form to customers via the NYBX 

Facility. By modernizing d-Quote 

functionality, the Exchange is therefore 

not only replacing functionality that 

was previously eliminated, but is also 

providing customers who elect to use a 

Floor broker with functionality that is 

already available in another format, 

thereby meeting the diverse needs of all 

customers. 

2. Statutory Basis 

The statutory basis for the proposed 

rule change is Section 6(b)(5) of the 

Act 9 which requires the rules of an 

exchange to promote just and equitable 

principles of trade, 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 also is designed to support the 

principles of Section 11A(a)(1) 10 of the 

Act in that it seeks to assure fair 

competition among brokers and dealers 

and among exchange markets and the 

practicability of brokers executing 

investor’s orders in the best market. The 

Exchange believes that permitting dQuotes to consider all available contraside liquidity when determining 

whether the discretionary size range of 

the d-Quote has been met meets such 

goals because it ensures that customer 

orders eligible to trade will execute 

against willing contra-side liquidity. 

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 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 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

as the Commission may designate up to 

90 days of such date 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 the proposed 

rule change, or 

(B) Institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

The Exchange has requested 

accelerated approval of this proposed 

rule change prior to the 30th day after 

the date of publication of the notice in 

the Federal Register. The Commission 

is considering granting accelerated 

approval of the proposed rule change at 

the end of a 21-day comment period. 

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–NYSE–2009–55 on the 

subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Elizabeth M. Murphy, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSE–2009–55. 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 NYSE. 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–NYSE–2009–55 and should 

be submitted on or before July 2, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–13721 Filed 6–10–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60048; File No. SR–CBOE– 

2009–035] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to Temporary 

Membership Status and Interim 

Trading Permit Access Fees 

June 4, 2009. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 notice is hereby given that on 

May 29, 2009, the Chicago Board 

Options Exchange, Incorporated 

(‘‘CBOE’’ or 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 CBOE. The 

Commission is publishing this notice to 


jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 74, No. 111 / Thursday, June 11, 2009 / Notices 27857 

2See Securities Exchange Act Release No. 56458 

(September 18, 2007), 72 FR 54309 (September 24, 

2007) (SR–CBOE–2007–107) for a description of the 

Temporary Membership status under Rule 3.19.02. 

3See Securities Exchange Act Release No. 58178 

(July 17, 2008), 73 FR 42634 (July 22, 2008) (SR– 

CBOE–2008–40) for a description of the Interim 

Trading Permits under Rule 3.27. 

4Rule 3.27(b) defines the clearing firm floating 

monthly rate as the floating monthly rate that a 

Clearing Member designates, in connection with 

transferable membership leases that the Clearing 

Member assisted in facilitating, for leases that 

utilize that monthly rate. 

5The concepts of an indicative lease rate and of 

a clearing firm floating month rate were previously 

utilized in the CBOE rule filings that set and 

adjusted the Temporary Member access fee. Both 

concepts are also codified in Rule 3.27(b) in relation 

to ITPs. 

6See Securities Exchange Act Release No. 57293 

(February 8, 2008), 73 FR 8729 (February 14, 2008) 

(SR–CBOE–2008–12), which established the 

original Temporary Member access fee, for detail 

regarding the rationale in support of the original 

Temporary Member access fee and the process used 

to set that fee, which is also applicable to this 

proposed change to the Temporary Member access 

fee as well. 

7See Securities Exchange Act Release No. 58200 

(July 21, 2008), 73 FR 43805 (July 28, 2008) (SR– 

CBOE–2008–77), which established the original ITP 

access fee, for detail regarding the rationale in 

support of the original ITP access fee and the 

process used to set that fee, which is also applicable 

to this proposed change to the ITP access fee as 

well. 

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

9 15 U.S.C. 78f(b). 

10 15 U.S.C. 78f(b)(4). 

11 15 U.S.C. 78s(b)(3)(A). 

12 17 CFR 240.19b–4(f)(2). 

solicit comments on the proposed rule 

change from interested parties. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

CBOE proposes to adjust (i) the 

monthly access fee for persons granted 

temporary CBOE membership status 

(‘‘Temporary Members’’) pursuant to 

Interpretation and Policy .02 under 

CBOE Rule 3.19 (‘‘Rule 3.19.02’’) and 

(ii) the monthly access fee for Interim 

Trading Permit (‘‘ITP’’) holders under 

CBOE Rule 3.27. 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’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, 

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 these statements 

may be examined at the places specified 

in Item IV below. The CBOE 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 current access fee for Temporary 

Members under Rule 3.19.02 2 and the 

current access fee for ITP holders under 

Rule 3.27 3 are both $9,014 per month. 

Both access fees are currently set at the 

indicative lease rate (as defined below) 

for May 2009. The Exchange proposes to 

adjust both access fees effective at the 

beginning of June 2009 to be equal to 

the indicative lease rate for June 2009 

(which is $10,171). Specifically, the 

Exchange proposes to revise both the 

Temporary Member access fee and the 

ITP access fee to be $10,171 per month 

commencing on June 1, 2009. 

The indicative lease rate is defined 

under Rule 3.27(b) as the highest 

clearing firm floating monthly rate 4 of 

the CBOE Clearing Members that assist 

in facilitating at least 10% of the CBOE 

transferable membership leases.5 The 

Exchange determined the indicative 

lease rate for June 2009 by polling each 

of these Clearing Members and 

obtaining the clearing firm floating 

monthly rate designated by each of 

these Clearing Members for that month. 

The Exchange used the same process 

to set the proposed Temporary Member 

and ITP access fees that it used to set 

the current Temporary Member and ITP 

access fees. The only difference is that 

the Exchange used clearing firm floating 

monthly rate information for the month 

of June 2009 to set the proposed access 

fees (instead of clearing firm floating 

monthly rate information for the month 

of May 2009 as was used to set the 

current access fees) in order to take into 

account changes in clearing firm 

floating monthly rates for the month of 

June 2009. 

The Exchange believes that the 

process used to set the proposed 

Temporary Member access fee and the 

proposed Temporary Member access fee 

itself are appropriate for the same 

reasons set forth in CBOE rule filing SR– 

CBOE–2008–12 with respect to the 

original Temporary Member access fee.6

Similarly, the Exchange believes that 

the process used to set the proposed ITP 

access fee and the proposed ITP access 

fee itself are appropriate for the same 

reasons set forth in CBOE rule filing SR– 

CBOE–2008–77 with respect to the 

original ITP access fee.7

Each of the proposed access fees will 

remain in effect until such time either 

that the Exchange submits a further rule 

filing pursuant to Section 19(b)(3)(A)(ii) 

of the Act 8 to modify the applicable 

access fee or the applicable status (i.e., 

the Temporary Membership status or 

the ITP status) is terminated. 

Accordingly, the Exchange may, and 

likely will, further adjust the proposed 

access fees in the future if the Exchange 

determines that it would be appropriate 

to do so taking into consideration lease 

rates for transferable CBOE 

memberships prevailing at that time. 

The procedural provisions of the 

CBOE Fee Schedule related to the 

assessment of each proposed access fee 

are not proposed to be changed and will 

remain the same as the current 

procedural provisions relating to the 

assessment of that access fee. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,9 in general, and 

furthers the objectives of Section 6(b)(4) 

of the Act,10 in particular, in that it is 

designed to provide for the equitable 

allocation of reasonable dues, fees, and 

other charges among persons using its 

facilities. 

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 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 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing rule change 

establishes or changes a due, fee, or 

other charge imposed by the Exchange, 

it has become effective pursuant to 

Section 19(b)(3)(A) of the Act 11 and 

subparagraph (f)(2) of Rule 19b–4 12

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, 


jlentini on PROD1PC65 with NOTICES
27858 Federal Register / Vol. 74, No. 111 / Thursday, June 11, 2009 / Notices 

13 17 CFR 200.30–3(a)(12). 

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–2009–035 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–2009–035. 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–CBOE–2009–035 and should be 

submitted on or before July 2, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–13722 Filed 6–10–09; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF STATE 

[Public Notice 6658] 

Title: Meetings of the United StatesChile Environment Affairs Council and 

Joint Commission for Environmental 

Cooperation 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of State and 

the Office of the United States Trade 

Representative (USTR) are providing 

notice that, as set forth in Chapter 19 

(Environment) of the United StatesChile Free Trade Agreement (FTA) and 

the United States-Chile Environmental 

Cooperation Agreement (ECA), the two 

governments intend to hold the fifth 

meeting of the Environment Affairs 

Council (the ‘‘Council’’) and the third 

meeting of the Joint Commission for 

Environmental Cooperation (the 

‘‘Commission’’) in Washington, DC on 

July 1st, 2009. A public information 

session will be held for on July 1st, at 

3 p.m., in room 1107 at the U.S. 

Department of State, 2201 C Street, NW., 

Washington, DC 20520. If you would 

like to attend the session, please send 

the following information to Robert 

Wing at the fax number or e-mail 

address listed below under ADDRESSES: 

(1) Your name, (2) your date of birth, 

and (3) the number of a valid 

identification card that a government 

has issued to you. 

The purpose of the Council and 

Commission meeting is detailed below 

under SUPPLEMENTARY INFORMATION. 

The meeting agenda will include an 

overview of Chapter 19 and review of its 

implementation, progress report on 

projects outlined in the FTA’s 

Environment Chapter, a discussion of 

the roles and activities of the Trade and 

Environment Policy Advisory 

Committee and the public advisory 

committee that advises the Chilean 

government on trade and environment 

policy issues, an overview of progress of 

implementing selected projects under 

the 2007–2008 Work Program pursuant 

to the United States-Chile ECA and the 

presentation of a new ECA Work 

Program. The Department of State and 

USTR invite interested agencies, 

organizations, and members of the 

public to submit written comments or 

suggestions regarding agenda items and 

to attend the public session. 

In preparing comments, we encourage 

submitters to refer to: 

• The FTA’s Environment Chapter 

including Annex 19.3, and the Final 

Environment Review of the FTA, 

available at: http://www.ustr.gov/ 

Trade_Agreements/Bilateral/Chile_FTA/ 

Section_Index.html. 

• The ECA, available at: http:// 

www.state.gov/g/oes/rls/or/22185.htm. 

DATES: To be assured of timely 

consideration, comments are requested 

no later than June 25, 2009. 

ADDRESSES: Written comments or 

suggestions should be submitted to 

both: (1) Robert Wing, U.S. Department 

of State, Bureau of Oceans, 

Environment, and Science, Office of 

Environmental Policy by electronic mail 

at wingRD@state.gov with the subject 

line ‘‘US-Chile EAC Meeting’’ or by fax 

to (202) 647–5947; and (2) Mara M. 

Burr, Deputy Assistant United States 

Trade Representative for Environment 

and Natural Resources, Office of the 

United States Trade Representative by 

electronic mail at mburr@ustr.eop.gov 

with the subject line ‘‘US-Chile EAC 

Meetings’’ or by fax to (202) 395–9517. 

FOR FURTHER INFORMATION CONTACT: 

Robert Wing, Telephone (202) 647–9266 

or Mara M. Burr, Telephone (202) 395– 

7320. 

SUPPLEMENTARY INFORMATION: The 

United States-Chile FTA entered into 

force on January 4, 2004. Article 3 of 

Chapter 19 (Environment) of the FTA 

establishes an Environment Affairs 

Council, which is required to meet at 

least once a year to discuss the 

implementation of, and progress under, 

Chapter 19. Chapter 19 requires that 

meetings of the Council include a public 

session. Under Chapter 19, the two 

governments agreed to undertake eight 

specific cooperative activities set out in 

Annex 19.3 of the Chapter and to 

negotiate a United States-Chile 

Environmental Cooperation Agreement 

to further environmental cooperative 

activities. The ECA entered into force on 

May 1, 2004 and sets out a framework 

for environmental cooperative activities 

between the two governments. Article II 

of the ECA establishes the United 

States-Chile Joint Commission for 

Environmental Cooperation, with 

responsibilities that include developing 

and periodically reviewing a Work 

Program. The Commission is required to 

meet at least every two years. The first 

meetings of the Council and the 

Commission were held on July 22, 2004, 

in Santiago, Chile, and the third meeting 


jlentini on PROD1PC65 with NOTICES