32664 Federal Register / Vol. 74, No. 129 / Wednesday, July 8, 2009 / Notices 

11 17 CFR 240.19b–4(f)(6). 12 In addition, Rule 19b–4(f)(6)(iii) requires the 

self-regulatory organization to give the Commission 

notice of its intent to file the proposed rule change, 

along with a brief description and text of the 

proposed rule change, at least five business days 

prior to the date of filing of the proposed rule 

change, or such shorter time as designated by the 

Commission. NYSE has satisfied this requirement. 13 17 CFR 240.19b–4(f)(6). 14 17 CFR 240.19b–4(f)(6)(iii). 15For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

and capital formation. 15 U.S.C. 78c(f). 16 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

thereunder 11 because the foregoing 

proposed rule: (i) Does not significantly 

affect the protection of investors or the 

public interest; (ii) does not impose any 

significant burden on competition; and 

(iii) does not become operative for 30 

days after the date of filing, or such 

shorter time as the Commission may 

designate if consistent with the 

protection of investors and the public 

interest.12

A proposed rule change filed 

pursuant to Rule 19b–4(f)(6) under the 

Act 13 normally does not become 

operative for 30 days after the date of its 

filing. However, Rule 19b–4(f)(6)(iii) 14

permits the Commission to designate a 

shorter time if such action is consistent 

with the protection of investors and the 

public interest. The NYSE has requested 

that the Commission waive the 30-day 

operative delay. The Commission 

believes that waiving the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest because it would allow the 

Moratorium to continue without 

interruption while awaiting the 

completion of the rule filing process 

with respect to SR–NYSE–2009–08. 

Therefore, the Commission designates 

that the proposed rule change become 

operative immediately.15

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–NYSE–2009–62 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–2009–62. 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 the filing will also be available 

for inspection and copying at the 

principal office of the self-regulatory 

organization. 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–NYSE– 

2009–62 and should be submitted on or 

before July 29, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.16

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–15994 Filed 7–7–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60187; File No. SR–CBOE– 

2009–040] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing of a 

Proposed Rule Change Regarding a 

New Options Market Linkage Structure 

June 29, 2009. 

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 June 24, 

2009, the Chicago Board Options 

Exchange, Incorporated (the ‘‘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 

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 filing proposes to adopt certain 

new order handling rules in connection 

with a new options industry linkage 

structure. The text of the proposed rule 

change is available on the Exchange’s 

Web site (http://www.cboe.org/legal), at 

the Exchange’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, 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 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

This filing proposes to adopt rules to 

facilitate the Exchange’s transition to a 

new intermarket linkage structure. Since 

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Federal Register / Vol. 74, No. 129 / Wednesday, July 8, 2009 / Notices 32665 

3CBOE Rules 6.45A(d) and 6.45B(d) allow the 

Exchange to temporarily disseminate a lock 

between Exchange Market-Makers. This lock is firm 

for all buy and sell orders. 

4As classes migrate to the New Plan on CBOE, 

the Exchange will be able to utilize HAL2 for those 

classes (i.e. HAL2 will only be available for classes 

trading pursuant to the New Plan). 

5Unless the Exchange’s quotation contains 

resting orders and does not contain sufficient 

Market-Maker quotation interest to satisfy the entire 

order. 

2000, the Exchange has been a 

participant in the Plan for the Purpose 

of Creating and Operating an 

Intermarket Option Linkage (the ‘‘Old 

Plan’’). That plan achieved intermarket 

order protection via a spoke-and-hub 

connectivity structure between options 

exchanges. The Options Clearing 

Corporation acted as the hub and 

provided connectivity between 

exchanges. This connectivity, which did 

not require the transmission of orders to 

an exchange through a member of that 

exchange, allowed for the sending of 

three order types: P/A orders (which are 

for the principal account of a marketmaker on behalf of a non-broker-dealer 

customer), P Orders (orders for the 

proprietary account of a market-maker), 

and Satisfaction Orders (orders 

reflecting the terms of a non-brokerdealer customer order resting on an 

exchange that was traded-through by 

another market). 

The Participants of the Old Plan have 

established a new plan to provide a 

more modern framework for options 

market order protection and locked/ 

crossed markets. The new plan is called 

the Options Order Protection and 

Locked/Crossed Market Plan (the ‘‘Plan’’ 

or ‘‘New Plan’’). The New Plan does not 

route orders through a hub. Instead it 

requires Participants to access betterpriced quotations on another market 

through a member of that market and 

via the transmission of a new ordertype: The Intermarket Sweep Order 

(‘‘ISO’’). The New Plan’s order 

protection provisions are modeled after 

Regulation NMS Rule 611. 

As described below, this filing adopts 

rules that correspond to the order 

protection provisions of the New Plan 

(these rules will generally be uniform 

with the rules of the other Participants). 

It also modifies certain Exchange order 

handling rules to facilitate 

implementation of the New Plan. 

New Plan Rules 

The filing proposes to eliminate all of 

the language in the rules relating to the 

Old Plan (Rules 6.80 through 6.85) and 

replace that language with rules 

mirroring the terms of the New Plan. 

The new Section E of Chapter 6 would 

contain a rule providing applicable 

definitions (Rule 6.80), a rule governing 

order protection (Rule 6.81), a rule 

governing locked and crossed markets 

(Rule 6.82), and a temporary rule 

regarding the transition from the Old 

Plan framework to the New Plan (Rule 

6.83). 

Revised Rule 6.81 provides that 

members shall not effect trade-throughs. 

It also lists the various exceptions to 

trade-through liability. These are: (1) If 

an Eligible Exchange repeatedly fails to 

respond within one second to incoming 

orders attempting to access its Protected 

Quotations (provided certain 

notification, assessment, and 

documentation requirements are met); 

(2) a transaction effected during a 

trading rotation; (3) a transaction during 

a Crossed Market; (4) the execution of 

an order identified as an ISO, or an 

execution effected on the Exchange 

while it simultaneously routs an ISO to 

execute against the full displayed size of 

any better-priced Protected Quotation; 

(5) the Eligible Exchange displaying the 

Protected Quotation that was traded 

through had displayed, within one 

second prior to execution of the TradeThrough, a Best bid or Best offer, as 

applicable, for the options series with a 

price that was equal or inferior to the 

price of the Trade-Through transaction; 

(6) the Protected Quotation traded 

through was being disseminated from an 

Eligible Exchange whose Quotations 

were Non-Firm with respect to such 

options series; (7) the execution of a 

Complex Trade; (8) the execution of an 

order for which, at the time of receipt 

of the order, a Member had guaranteed 

an execution at no worse than a 

specified price, where (i) the stopped 

order was for the account of a Customer, 

(ii) the Customer agreed to the specified 

price on an order-by-order basis, and 

(iii) the price of the Trade-Through was, 

for a stopped buy (sell) order, lower 

(higher) than the national Best Bid 

(Offer) in the options series at the time 

of execution; (9) the execution of an 

order that was stopped at a price that 

did not Trade-Through an Eligible 

Exchange at the time of the stop; and 

(10) the execution of an order at a price 

that was not based, directly or 

indirectly, on the quoted price of the 

options series at the time of execution 

and for which the material terms were 

not reasonably determinable at the time 

the commitment to execute the order 

was made. 

Proposed Rule 6.82 provides that 

members shall reasonably avoid (and 

shall not engage in a pattern of) locking 

and crossing Protected Quotations. The 

Rule contains the following exceptions: 

(1) The locking or crossing quotation 

was displayed at a time when the 

Exchange was experiencing a failure, 

material delay, or malfunction of its 

systems or equipment; (2) The locking 

or crossing quotation was displayed at 

a time when there is a Crossed Market; 

(3) The Member simultaneously routed 

an ISO to execute against the full 

displayed size of any locked or crossed 

Protected Bid or Protected Offer; and (4) 

The locking quotation is permissible 

pursuant to Rules 6.45A(d) and 

6.45B(d).3

Temporary Rule 6.83 provides that 

during the transition to the New Plan, 

the Exchange will continue to receive 

and execute (and may send) P/A and P 

orders if the Exchange is the NBBO. 

Once all Participants have completely 

migrated to the New Plan structure, this 

Rule would cease to be necessary. In 

connection with the transition, CBOE 

intends to access other Participants via 

the use of P/A and P orders on a 

temporary basis pursuant to exemptive 

relief we are requesting from the 

Commission until the Exchange’s rollout of the new functionality is complete 

(once ISO outbound routing is available 

for a class, the Exchange will cease 

using P and P/A orders as well as ‘‘old’’ 

HAL functionality for that class). The 

Exchange anticipates that the migration 

to the New Plan functionality will take 

several weeks. The Exchange will keep 

members informed of the rollout 

schedule via circular and will identify 

on a class-by-class basis which classes 

are trading pursuant to the temporary 

rule and utilizing ‘‘old’’ HAL as well as 

which classes are trading pursuant to 

the ‘‘new’’ linkage rules and HAL2. 

HAL2 

The Exchange proposes to adopt a 

new Hybrid Agency Liaison System 

(‘‘HAL2’’) in proposed Rule 6.14A. The 

Exchange will determine the eligible 

order size, eligible order type, eligible 

order origin code (i.e., public customer 

orders, non-Market Maker broker-dealer 

orders, and Market Maker broker-dealer 

orders), and classes for HAL2.4 When 

the Exchange receives a qualifying order 

that is marketable against the NBBO 

and/or the Exchange’s BBO,5 HAL2 will 

‘‘flash’’ the order at the NBBO price to 

allow CBOE Market-Makers appointed 

in that class as well as all members 

acting as agent for orders at the top of 

the Exchange’s book in the relevant 

series (and other members if allowed by 

the Exchange) to step-up to the NBBO 

price. The duration of the flash period 

shall not exceed 1 second. The first 

responder to indicate an interest to trade 

at the NBBO price will trade against the 

flashed order up to the size of the 

response (the flash period will continue 

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32666 Federal Register / Vol. 74, No. 129 / Wednesday, July 8, 2009 / Notices 

6 If the unrelated order was smaller than the 

exposed order, then the flash would continue for 

the unexecuted balance of the exposed order. 

for any unexecuted balance). 

Responders will also be allowed to 

respond at prices worse than the NBBO 

but equal to or better than the 

Exchange’s BBO. At the end of the 

response period (if no responders have 

matched the NBBO price or if there is 

a remainder on the flashed order) the 

HAL2 system will ascertain the best 

available price(s) between all pending 

responses and the best disseminated 

prices on other exchanges, and then 

execute the flashed order at the best 

price(s) by trading it against flash 

responses first and transmitting ISOs to 

other exchanges second. 

For example, CBOE’s best offer is 1.22 

for 200 contracts, and the NBBO is 1.19 

for 10 contracts with one other market 

disseminating a 1.20 offer for 20 

contracts. An order to buy 100 contracts 

at 1.22 is received. The order will be 

flashed at 1.19. Market-Maker A 

immediately submits a response to trade 

10 contracts at 1.19. As a result 10 

contracts trade against Market-Maker A 

at 1.19 (leaving 90 contracts on the 

order). During the remaining flash 

period Market-Maker B submits a 

response to trade 20 contracts at 1.21. 

As soon as the flash period concludes 

(assuming the away market prices have 

not changed), the system will 

simultaneously: Route an ISO to buy 10 

contracts at 1.19 to the NBBO market, 

route an ISO to buy 20 contracts at 1.20 

to the market displaying the 1.20 offer, 

execute 20 at 1.21 against Market-Maker 

B, and execute the remaining 40 against 

the Exchange’s 1.22 offer using the 

matching algorithm in effect for the 

class. 

If any portion of an order that is 

routed away returns unfilled, the 

Exchange will deem it a ‘‘new’’ order for 

processing purposes and trade it against 

the best bid/offer on the Exchange 

unless another exchange is quoting a 

better price in which case the Exchange 

will attempt to access such better price 

with a new ISO order. Any executions 

at the Exchange’s best bid/offer will be 

handled in two batches: First against all 

interest resting at that price at the time 

the flashed order was received, and 

second against any interest that joined 

at that price after the flash process 

commenced (in both cases the matching 

algorithm in effect for that class will be 

used). The Exchange also notes that 

order senders can bypass HAL2 

processing by submitting Immediate or 

Cancel Orders. 

Paragraph (d) of proposed Rule 6.14A 

lists the circumstances in which a flash 

period would terminate early. Those 

are: (1) If the Exchange receives an 

unrelated order on the same side of the 

market as the flashed order that is 

priced equal to or better than the flashed 

order; (2) if, in the case of an exposed 

order that is marketable against the 

Exchange’s BBO, Market-Maker interest 

at the BBO decrements to a size that 

would be equal to or smaller than the 

size of the exposed order; and (3) if an 

unrelated order or quote on the opposite 

side of the market from the exposed 

order is received that could trade 

against the exposed order at the 

prevailing NBBO or better in which case 

the orders would trade at the NBBO 

unless the unrelated order is a customer 

order in which case the orders would 

trade at the midpoint of the unrelated 

order’s limit price and the NBBO (e.g. 

the NBBO/flash price for a buy order is 

1.15, during the exposure period a 

customer limit order to sell at 1.13 is 

received, the orders will be matched to 

the greatest extent possible at 1.14 

providing price improvement to both 

orders).6

Lastly, Interpretation and Policy .01 to 

Rule 6.14A provides that the Exchange 

will limit redistribution of exposed 

order messages to third parties. 

Essentially, the purpose of this 

provision is to provide the Exchange 

with flexibility to restrict members from 

passing on or redistributing flash 

messages to others. Of course, the 

provisions of Exchange Rule 4.1 (Just 

and Equitable Principles of Trade) and 

4.18 (Prevention of the Misuse of 

Material, Nonpublic Information) apply 

to all HAL2 trading. 

Price Check Parameter 

A new price check parameter is also 

being adopted in connection with the 

new HAL2 process (this new parameter 

is in Rule 6.13(vi)). For classes in which 

HAL2 is activated, the Exchange will 

not automatically execute orders that 

are marketable if the NBBO width is not 

within an acceptable price range 

established by the Exchange (APR), or if 

an execution would follow an initial 

partial execution and occur at a price 

that is not within an acceptable tick 

distance from the initial execution as 

established by the Exchange (ATD). If an 

execution is suspended because of the 

APR, the order will route to PAR for 

handling. If an execution is suspended 

because of the ATD, the order will be 

exposed pursuant to the HAL2 process 

using the ATD as the exposure price. If 

a quantity remains after the HAL2 

process, the balance will route to PAR 

(in this regard, the HAL2 processing for 

these orders is different that normal 

HAL2 processing). The Exchange notes 

that users may bypass this processing by 

submitting orders with an immediate or 

cancel designation. 

New Order Routing Rule 

The Exchange proposes to adopt new 

Rule 6.14B which would govern the 

Exchange’s process for routing sweep 

orders to other markets. The Exchange 

intends to contract with one or more 

routing brokers that are not affiliated 

with the Exchange to route sweep orders 

to other exchanges. Any such contract 

will restrict the use of any confidential 

and proprietary information that the 

routing broker receives to legitimate 

business purposes necessary for routing 

orders at the direction of the Exchange. 

Routing services would be available to 

members only and are optional. 

Members that do not want orders routed 

can use the Immediate or Cancel 

designation to avoid routing. 

The rule also provides that (1) the 

Exchange shall establish and maintain 

procedures and internal controls 

reasonably designed to adequately 

restrict the flow of confidential and 

proprietary information between the 

Exchange and the routing broker, and 

any other entity, including any affiliate 

of the routing broker, and, if the routing 

broker or any of its affiliates engages in 

any other business activities other than 

providing routing services to the 

Exchange, between the segment of the 

routing broker or affiliate that provides 

the other business activities and the 

segment of the routing broker that 

provides the routing services; (2) the 

Exchange may not use a routing broker 

for which the Exchange or any affiliate 

of the Exchange is the designated 

examining authority; (3) the Exchange 

will provide its Routing Services in 

compliance with the provisions of the 

Act and the rules thereunder, including, 

but not limited to, the requirements in 

Section 6(b)(4) and (5) of the Act that 

the rules of a national securities 

exchange provide for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members and 

issuers and other persons using its 

facilities, and not be designed to permit 

unfair discrimination between 

customers, issuers, brokers, or dealers; 

(4) the Exchange will determine the 

logic that provides when, how, and 

where orders are routed away to other 

exchanges; (5) the routing broker cannot 

change the terms of an order or the 

routing instructions, nor does the 

routing broker have any discretion about 

where to route an order; and, (6) any bid 

or offer entered on the Exchange routed 

to another exchange via a routing broker 

that results in an execution shall be 

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Federal Register / Vol. 74, No. 129 / Wednesday, July 8, 2009 / Notices 32667 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(5). 9 17 CFR 200.30–3(a)(12). 

binding on the member that entered 

such bid/offer. 

New Order Types 

The filing proposes to adopt several 

new order types that would be added to 

Rule 6.53: (1) AIM Sweep Order. An 

AIM sweep order (AIM ISO) is the 

transmission of two orders for crossing 

pursuant to Rule 6.74A without regard 

for better priced Protected Bids/Offers 

because the member transmitting the 

AIM ISO to the Exchange has, 

simultaneously with the routing of the 

AIM ISO, routed one or more ISOs, as 

necessary, to execute against the full 

displayed size of any Protected Bid/ 

Offer that is superior to the starting AIM 

auction price and has swept all interest 

in the Exchange’s book priced better 

than the proposed auction starting price 

(with any execution(s) resulting from 

such sweeps shall accrue to the AIM 

Agency Order); (2) Sweep and AIM 

Order. A sweep and AIM order is the 

transmission of two orders for crossing 

pursuant to Rule 6.74A with an auction 

starting price that does not need to be 

within the Exchange’s best bid and offer 

and where the Exchange will ‘‘sweep’’ 

all Protected Bids/Offers by routing one 

or more ISOs, as necessary, to execute 

against the full displayed size of any 

Protected Bid/Offer that is superior to 

the starting AIM auction price, as well 

as sweep all interest in the Exchange’s 

book priced better than the proposed 

auction starting price concurrent with 

the commencement of the AIM auction 

with any execution(s) resulting from 

such sweeps accruing to the AIM 

Agency Order; and, (3) CBOE-Only 

Order. A CBOE-only order is an order to 

buy or sell that is to be executed in 

whole or in part on the Exchange 

without routing the order to another 

market center and that is to be cancelled 

if routing would be required under the 

Exchange’s Rules. 

Other Changes 

In connection with the new linkage 

structure and the adoption of the rules 

described above, the Exchange is also 

making minor changes to other 

Exchange rules including adding 

reference to HAL2 to Rule 6.2B, 

eliminating The ‘‘Removal of Unreliable 

Quotes’’ provision of Rule 6.13, 

eliminating references in the Exchanges 

crossing mechanisms (6.74A and 6.74B) 

to the block trade exemption of the Old 

Plan, and deletion of Rule 8.52 relating 

to the now defunct Pilot Program for 

Away Market Maker Access. 

Implementation 

The Exchange represents that the 

proposed rules will not become 

operative until the Exchange has 

withdrawn from the Old Plan. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Act7 in general and furthers 

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

Act8 in particular in that, by making the 

linkage process more efficient and 

offering users greater control over order 

routing, it is designed to promote just 

and equitable principles of trade, serve 

to remove impediments to and perfect 

the mechanism of a free and open 

market and a national market system. 

Moreover, the Exchange believes that 

adopting rules that implement the Plan 

will facilitate the trading of options in 

a national market system by establishing 

more efficient protection against tradethroughs. 

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 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 such proposed 

rule change, or 

(B) Institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

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–2009–040 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–2009–040. 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 the filing will also be available 

for inspection and copying at the 

principal office of the self-regulatory 

organization. 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–CBOE– 

2009–040 and should be submitted on 

or before July 29, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–15992 Filed 7–7–09; 8:45 am] 

BILLING CODE 8010–01–P 

mstockstill on DSKH9S0YB1PROD with NOTICES