31334 Federal Register / Vol. 74, No. 124 / Tuesday, June 30, 2009 / Notices 

5 ‘‘Demonstrated customer interest’’ includes 

interest expressed by institutional, corporate or 

individual customers or their brokers. MarketMakers trading for their own account may not be 

considered when determining customer interest 

under this provision. 

6See Securities Exchange Act Release No. 57410 

(March 3, 2008), 73 FR 12483 (March 7, 2008) (SR– 

CBOE–2007–96). 

7See Securities Exchange Act Release No. 54123, 

supra note 4. 

8The Report was submitted under separate cover 

and seeks confidential treatment under the Freedom 

of Information Act. 

9 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

formation. 15 U.S.C. 78c(f). 

10 15 U.S.C. 78f(b)(5). 

11 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3 17 CFR 240.19b–4(f)(6). 

previous day’s closing price of the 

underlying security at the time of initial 

listing. Subsequently, the Exchange may 

list up to 60 additional strike prices that 

are within thirty percent (30%) of the 

previous day’s close, or more than 30% 

away from the previous day’s close 

provided demonstrated customer 

interest exists for such series.5

The Exchange has also adopted a 

delisting policy with respect to QOS in 

ETF options.6 On a monthly basis, the 

Exchange reviews series that are outside 

a range of five (5) strikes above and five 

(5) strikes below the current price of the 

underlying ETF, and delists series with 

no open interest in both the put and the 

call series having either: (i) A strike 

price higher than the highest strike price 

with open interest in the put and/or call 

series for a given expiration month; or 

(ii) a strike price lower than the lowest 

strike price with open interest in the put 

and/or call series for a given expiration 

month. Notwithstanding the foregoing, 

the delisting policy also provides that 

customer requests to add strikes and/or 

maintain strikes in QOS in ETF options 

in series eligible for delisting shall be 

granted by the Exchange. 

The Exchange also may list Quarterly 

Option Series based on an underlying 

index pursuant to similar provisions in 

Rule 24.9. There are two noteworthy 

distinctions between the rules for listing 

QOS based on an ETF versus QOS based 

on an index. First, whereas the initial 

listing of QOS based on an underlying 

ETF is restricted to strike prices within 

$5 from the previous day’s closing price 

of the underlying security, the initial 

listing of strikes for QOS based on an 

underlying index is restricted to: (i) A 

price that is within thirty percent (30%) 

of the previous day’s close, and (ii) no 

more than five strikes above and five 

strikes below the value of the 

underlying index. Second, whereas the 

Exchange may list up to 60 additional 

strike prices for each QOS based on an 

ETF, there is no firm cap on the 

additional listing of strikes for QOS 

based on an underlying index; rather, 

additional strike prices may be listed 

provided the new listings do not result 

in more than five strike prices on the 

same side of the underlying index value 

as the new listings. To date, the 

Exchange has not listed any Quarterly 

Option Series based on an underlying 

index. 

In support of its proposal to 

permanently establish the QOS 

Program, and as required by the terms 

of the Pilot Program,7 the Exchange 

submitted to the Commission a report 

detailing the Exchange’s experience 

with the QOS Program (the ‘‘Report’’).8

In addition to the Report, the Exchange 

represented that it has not experienced 

any capacity-related problems with 

respect to Quarterly Option Series, and 

that it has the necessary systems 

capacity to continue to support the 

option series listed under the QOS 

Program. Finally, the Exchange stated 

its belief that there is sufficient investor 

interest in, and demand for, the QOS 

Program to warrant its permanent 

approval. 

After careful review, the Commission 

finds that the proposal is consistent 

with the Act and the rules and 

regulations thereunder applicable to a 

national securities exchange,9 and, in 

particular, the requirements of Section 

6(b)(5) of the Act,10 which requires, 

among other things, that the rules of a 

national securities exchange be 

designed 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 Commission finds that the QOS 

Program, as evidenced by the Report, 

has furthered the public interest by 

offering investors an alternative means 

of managing their risk exposures and 

carrying out their investment objectives. 

The Commission notes CBOE’s 

representation that there is sufficient 

investor interest in the QOS Program to 

warrant its permanent approval. The 

Commission further notes CBOE’s 

representations that it has not 

experienced any capacity-related 

problems with respect to Quarterly 

Option Series, and that the Exchange 

has the necessary system capacity to 

continue to support the option series 

listed under the QOS Program. 

Accordingly, the Commission finds that 

the proposed QOS Program strikes a 

reasonable balance between the 

Exchange’s desire to offer a wider array 

of investment opportunities and the 

need to avoid the unnecessary 

proliferation of option series that could 

compromise systems capacity. The 

Commission expects CBOE to continue 

to monitor the trading and quotation 

volume associated with the QOS 

Program, and the effect the QOS 

Program has on the capacity of the 

Exchange’s, OPRA’s, and vendors’ 

systems. In addition, the Commission 

expects the Exchange, consistent with 

its QOS delisting policy, to continue to 

monitor for option series with little or 

no open interest and trading activity 

and to act promptly to delist such 

options in order to mitigate the number 

of options series with no open interest. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act, that the 

proposed rule change (SR–CBOE–2009– 

029) be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–15350 Filed 6–29–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60165; File No. SR–BX– 

2009–029] 

Self-Regulatory Organizations; 

NASDAQ OMX BX, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Establish a 

Flash and Cancel Order 

June 23, 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 June 17, 

2009, 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 has designated the proposed 

rule change, as amended, as constituting 

a rule change under Rule 19b–4(f)(6) 

under the Act,3 which renders the 

proposal effective upon filing with the 

Commission. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change, 

as amended, from interested persons. 


sroberts on PROD1PC70 with NOTICES6
Federal Register / Vol. 74, No. 124 / Tuesday, June 30, 2009 / Notices 31335 

4 17 CFR 240.19b–4(f)(6). 

5 15 U.S.C. 78f. 

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

7Securities Exchange Act Release No. 54422 

(September 11, 2006), 71 FR 54537 (September 15, 

2006) (SR–CBOE–2004–21); Securities Exchange 

Act Release No. 59359 (February 4, 2009), 74 FR 

6927 (February 11, 2009) (SR–CBOE–2008–123). 

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

9 17 CFR 240.19b–4(f)(6). 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes a rule change 

to establish a Flash and Cancel order. 

The Exchange has filed this proposal 

under Exchange Act Rule 19b–4(f)(6) 4

and, as such, the proposal is 

immediately effective. 

The text of the proposed rule change 

is available from the principal office of 

the Exchange, at the Commission’s 

Public Reference Room and also on the 

Exchange’s Internet Web site at http://

nasdaqtrader.com/

Trader.aspx?id=Boston_

Stock_Exchange. 

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 

Nasdaq OMX BX is proposing to 

establish a new voluntary Flash and 

Cancel Order type. A Flash and Cancel 

Order will provide an optional precancellation display period for market 

and marketable limit orders so 

designated. Under the proposal, market 

and marketable limit orders designated 

as Flash and Cancel Orders will, after 

first executing to the maximum extent 

possible in Nasdaq OMX BX’s book, 

have their unexecuted portions 

displayed for potential execution at the 

NBBO such that a trade-through will not 

occur, to Nasdaq OMX BX market 

participants and market data vendors for 

a period of time determined by Nasdaq 

OMX BX which will not exceed one-half 

of one second. If any unfilled balance 

remains after such display, such 

marketable unfilled balance shall be 

cancelled back to the entering party, and 

such non-marketable unfilled balance 

shall be placed on the book for potential 

execution. As with other Nasdaq OMX 

BX order types, the attributes of the 

Flash and Cancel Order may be 

combined with all Nasdaq OMX BX 

order types. Nasdaq OMX BX will 

provide an electronic method to 

distinguish the Flash Order during the 

flash period from the System’s protected 

quote under Regulation NMS. 

Nasdaq OMX BX notes that flash and 

cancel order functionality is already in 

use by other markets that such 

functionality can be expected to provide 

Nasdaq OMX BX system users with 

greater control over their trading. Except 

for the behavior of the Flash and Cancel 

Order described here, nothing in the 

proposal will modify or alter any 

existing rule or process related to order 

priority, order execution, trade-through 

protection or locked or crossed markets. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the provisions of Section 6 of the Act,5

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

the Act,6 in particular, in that the 

proposal 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 regulating, clearing, settling, 

processing information with respect to, 

and facilitating transactions in 

securities, 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. 

Nasdaq OMX BX notes that similar 

functionality has already been found to 

be consistent with the Act by the 

Commission.7

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange 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, as amended. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received from 

Members, Participants or Others 

Written comments on the proposed 

rule change were neither solicited nor 

received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change does not: (i) Significantly affect 

the protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 8 and Rule 19b– 

4(f)(6) thereunder.9

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–BX–2009–029 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–2009–029. 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 


sroberts on PROD1PC70 with NOTICES6
31336 Federal Register / Vol. 74, No. 124 / Tuesday, June 30, 2009 / Notices 

10 17 CFR 200.30–3(a)(12). 

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 publicly available. All 

submissions should refer to File 

Number SR–BX–2009–029 and should 

be submitted on or before July 21, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–15351 Filed 6–29–09; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF STATE 

[Public Notice: 6679] 

Notice of Request for Public Comment 

and Submission to OMB of Proposed 

Collection of Information 

Title: 30-Day Notice of Proposed 

Information Collection: DS–3077, 

Request for Entry into Children’s 

Passport Issuance Alert Program, OMB 

1405–0169. 

ACTION: Notice of request for public 

comment and submission to OMB of 

proposed collection of information. 

SUMMARY: The Department of State has 

submitted the following information 

collection request to the Office of 

Management and Budget (OMB) for 

approval in accordance with the 

Paperwork Reduction Act of 1995. 

• Title of Information Collection: 

Request for Entry into Children’s 

Passport Issuance Alert Program. 

• OMB Control Number: 1405–0169. 

• Type of Request: Revision. 

• Originating Office: CA/OCS/PRI. 

• Form Number: DS–3077. 

• Respondents: Concerned parents or 

their agents, institutions, or courts. 

• Estimated Number of Respondents: 

4,420. 

• Estimated Number of Responses: 

4,420. 

• Average Hours Per Response: 30 

minutes. 

• Total Estimated Burden: 2,210 hrs. 

• Frequency: On occasion. 

• Obligation to Respond: Voluntary. 

DATES: Submit comments to the Office 

of Management and Budget (OMB) for 

up to 30 days from June 30, 2009. 

ADDRESSES: Direct comments and 

questions to Katherine Astrich, the 

Department of State Desk Officer in the 

Office of Information and Regulatory 

Affairs at the Office of Management and 

Budget (OMB), who may be reached at 

202–395–4718. You may submit 

comments by any of the following 

methods: 

• E-mail: kastrich@omb.eop.gov. You 

must include the DS form number, 

information collection title, and OMB 

control number in the subject line of 

your message. 

• Mail (paper, disk, or CD–ROM 

submissions): Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, 725 17th 

Street, NW., Washington, DC 20503. 

• Fax: 202–395–5806. 

FOR FURTHER INFORMATION CONTACT: You 

may obtain copies of the proposed 

information collection and supporting 

documents from Derek A Rivers, Bureau 

of Consular Affairs, Overseas Citizens 

Services (CA/OCS/PRI), U.S. 

Department of State, SA–29, 4th Floor, 

Washington, DC 20520, who may be 

reached on (202) 736–9082 or 

ASKPRI@state.gov. 

SUPPLEMENTARY INFORMATION: We are 

soliciting public comments to permit 

the Department to: 

• Evaluate whether the proposed 

information collection is necessary to 

properly perform our functions. 

• Evaluate the accuracy of our 

estimate of the burden of the proposed 

collection, including the validity of the 

methodology and assumptions used. 

• Enhance the quality, utility, and 

clarity of the information to be 

collected. 

• Minimize the reporting burden on 

those who are to respond. 

Abstract of Proposed Collection 

The information requested will be 

used to support entry of a minor’s (an 

unmarried person under 18) name into 

the Children’s Passport Issuance Alert 

Program (CPIAP). CPIAP provides a 

mechanism for parents or other persons 

with legal custody of a minor to obtain 

information regarding whether the 

Department has received a passport 

application for the minor. This program 

was developed as a means to prevent 

international abduction of a minor or to 

help prevent other travel of a minor 

without the consent of a parent or legal 

guardian. If a minor’s name and other 

identifying information has been 

entered into the CPIAP, when the 

Department receives an application for 

a new, replacement, or renewed 

passport for the minor, the application 

will be placed on hold for up to 60 days 

and Passport Services will attempt to 

notify the requestor of receipt of the 

application. Form DS–3077 will be 

primarily submitted by a parent or legal 

guardian of a minor. 

Methodology 

The completed form DS–3077 may be 

submitted to Passport Services by email, fax, or mail. 

Dated: June 18, 2009. 

Mary Ellen Hickey, 

Managing Director, Bureau of Consular 

Affairs, Department of State. 

[FR Doc. E9–15440 Filed 6–29–09; 8:45 am] 

BILLING CODE 4710–06–P 

DEPARTMENT OF TRANSPORTATION 

Federal Highway Administration 

Environmental Impact Statement: 

Hunterdon County, NJ 

AGENCY: Federal Highway 

Administration (FHWA), DOT. 

ACTION: Cancellation of the notice of 

intent. 

SUMMARY: This notice rescinds the 

previous Notice of Intent (NOI) 

published on November 24, 2006 (71 FR 

67955) to prepare an Environmental 

Impact Statement (EIS) for a proposed 

South Branch Parkway project in 

Hunterdon County, New Jersey. 

FOR FURTHER INFORMATION CONTACT: 

Roger S. Lall, Director of Engineering, 

Federal Highway Administration, New 

Jersey Division Office, 840 Bear Tavern 

Road, Suite 310, West Trenton, New 

Jersey 08628; Telephone: (609) 637– 

4200 or Elkins Green, Director, Division 

of Environmental Resources, New Jersey 

Department of Transportation, 1035 

Parkway Avenue, Trenton, New Jersey 

08625; Telephone: (609) 530–8075. 

SUPPLEMENTARY INFORMATION: The 

FHWA, in cooperation with the New 

Jersey Department of Transportation 

(NJDOT), is rescinding the NOI to 

prepare an EIS for a project that had 

been proposed to construct the South 

Branch Parkway in Raritan Township, 

Hunterdon County, New Jersey, Federal 

Project No. HPP–0037(130). 

The proposed action included the 

construction of a limited access 

highway on new location for a distance 

of approximately 3.7 miles; extending 

from a proposed intersection at 


sroberts on PROD1PC70 with NOTICES6