Federal Register / Vol. 74, No. 115 / Wednesday, June 17, 2009 / Notices 28749 

9 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2The ORF was established in October 2008 as a 

replacement of Registered Representative (’’RR’’) 

fees. See Securities Exchange Act Release No. 58817 

(October 20, 2008), 73 FR 63744 (October 27, 2008) 

(‘‘Original Filing’’). The ORF was to be effective 

January 1, 2009. In December 2008 and January 

2009, the Exchange filed proposed rule changes 

waiving the ORF for January and February, to allow 

additional time for the Exchange, OCC and firms to 

put in place appropriate procedures to implement 

the fee. See Securities Exchange Act Release No. 

59182 (December 30, 2008), 74 FR 730 (January 7, 

2009), and Securities Exchange Act Release No. 

59355 (February 3, 2009), 74 FR 6677 (February 10, 

2009). To avoid a regulatory revenue shortfall for 

2009 due to the waivers of the fee, the Exchange 

increased the ORF for 2009 from $.0045 per 

contract to $.006 per contract. See Securities 

Exchange Act Release No. 59427 (February 20, 

2009), 74 FR 9013 (February 27, 2009). 

3Original Filing at 63745. 

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

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number SR–NYSE–2009–56 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–NYSE–2009–56. 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, on official business days between 

the hours of 10 a.m. and 3 p.m. Copies 

of such filing will also 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–NYSE– 

2009–56 and should be submitted on or 

before July 8, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–14171 Filed 6–16–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60093; File No. SR–CBOE– 

2009–036] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to the Options 

Regulatory Fee 

June 10, 2009. 

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

Securities Exchange Act of 1934,1 notice 

is hereby given that on June 4, 2009, 

Chicago Board Options Exchange, 

Incorporated 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 CBOE. 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 

Chicago Board Options Exchange, 

Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) 

proposes to amend its Fees Schedule 

relating to the Options Regulatory Fee. 

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, 

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. 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, Proposed Rule 

Change 

1. Purpose 

The Exchange charges an Options 

Regulatory Fee (‘‘ORF’’) of $.006 per 

contract to each member for all options 

transactions executed by the member 

that are cleared by The Options Clearing 

Corporation (‘‘OCC’’) in the customer 

range, excluding Options Intermarket 

Linkage Plan (‘‘Linkage’’) orders. The 

ORF is imposed upon all such 

transactions executed by a member, 

even if such transactions do not take 

place on the Exchange. The ORF is 

collected indirectly from members 

through their clearing firms by OCC on 

behalf of the Exchange. There is a 

minimum one-cent charge per trade.2

The Exchange has reevaluated the 

current amount of the ORF in light of 

better than expected trading volume so 

far in 2009. The Exchange stated in the 

Original Filing that the ORF is set at a 

rate that the Exchange anticipates will 

approximately replace the amount of 

revenue that would be lost from the 

elimination of RR Fees.3 The Exchange 

has determined that the ORF would 

generate revenue in excess of the 

amount of annual revenue the Exchange 

used to receive from RR fees if the ORF 

remained at $.006 per contract for all of 

2009. Accordingly, the Exchange 

proposes to reduce the ORF from $.006 

per contract to $.004 per contract. The 

fee change would become operative on 

August 1, 2009, in order to give 

members time to implement the revised 

fee. 

The Exchange will continue to 

monitor the amount of revenue raised 

by the ORF to ensure that it is meeting 

its revenue benchmarks and may make 

other adjustments to the fee in the 

future as necessary. The Exchange 

anticipates providing notice of any ORF 

changes as far in advance of the 

effective date of the new rate as 

possible. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Securities Exchange Act of 

1934 (‘‘Act’’),4 in general, and furthers 


dwashington3 on PROD1PC60 with NOTICES
28750 Federal Register / Vol. 74, No. 115 / Wednesday, June 17, 2009 / Notices 

5 15 U.S.C. 78f(b)(4). 

6 15 U.S.C. 78s(b)(3)(A). 

7 17 CFR 240.19b–4(f)(2). 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 17 CFR 249.220f. 

4Securities Exchange Act Release No. 58620 

(September 23, 2008), 73 FR 58300 (October 6, 

2008). This disclosure is required in Item 16G of the 

Form 20–F. 

the objectives of Section 6(b)(4) 5 of the 

Act in particular, in that it is designed 

to provide for the equitable allocation of 

reasonable dues, fees, and other charges 

among its members and other persons 

using its facilities. The Exchange 

believes the revised ORF is reasonable 

because it is expected to approximately 

equal the annual revenue the Exchange 

used to receive from RR Fees. 

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 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 

The foregoing rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 6 and subparagraph (f)(2) of 

Rule 19b–4 7 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 proposal 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 

No. SR–CBOE–2009–036 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 No. 

SR-CBOE–2009–036. 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 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 No. SRCBOE–2009–036 and should be 

submitted on or before July 8, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–14172 Filed 6–16–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60094; File No. SR– 

NASDAQ–2009–049] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change to the NASDAQ 

Listing Rules To Reflect Changes to 

the Rules of the Commission 

June 10, 2009. 

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 May 20, 

2009, The NASDAQ Stock Market LLC 

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

Exchange Commission (‘‘Commission’’) 

the proposed rule change as described 

in Items I and II 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 proposes a rule change to 

modify Nasdaq’s Listing Rules to reflect 

recent changes to Commission rules. 

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. The text of these 

statements may be examined at the 

places specified in Item IV below, and 

is set forth in Sections A, B, and C 

below. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Nasdaq proposes to conform its rules 

to reflect two recent changes to the rules 

of the Commission. On September 23, 

2008, the Commission adopted changes 

to Form 20–F 3 that, beginning with the 

report filed for the first fiscal year ended 

on or after December 15, 2008, requires 

companies that file an annual report on 

Form 20–F to discuss significant 

differences in their corporate 

governance practices compared to the 

corporate governance practices 

applicable to domestic companies under 

the relevant exchange’s listing 

standards.4 In contrast, Nasdaq Rule 

5615(a)(3) allows foreign private issuers 

to disclose their non-conforming 

corporate governance practices in their 

annual reports or registration statements 

filed with the Commission or on their 

Web sites. As a consequence, Nasdaq’s 

requirements regarding annual report 


dwashington3 on PROD1PC60 with NOTICES