Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices 32989 

14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3A P/A order is an order for the principal account 

of a specialist (or equivalent entity on another 

participant exchange that is authorized to represent 

public customer orders), reflecting the terms of a 

related unexecuted Public Customer order for 

which the specialist is acting as agent. See 

Exchange Rule 1083(k)(i). 

4A Principal Order is an order for the principal 

account of an Eligible Market Maker and is not a 

P/A Order. See Exchange Rule 1083(k)(ii). 

5See Securities Exchange Act Release Nos. 44482 

(July [sic] 27, 2001), 66 FR 35470 (July 5, 2001) 

(Amendment to Plan to Conform to the 

Requirements of Securities Exchange Act Rule 

11Acl–7); 43573 (November 16, 2000), 65 FR 70851 

(November 28, 2000) (Notice [sic] of Phlx Joining 

the Plan); and 43086 (July 28, 2000), 65 FR 48023 

(August 4, 2000) (Approval of the Plan). 

6See Securities Exchange Act Release No. 58144 

(July 11, 2008), 73 FR 41394 (July 18, 2008) (SR– 

Phlx–2008–49). 

7 In May 2009, the Exchange increased its 

transaction fees for P/A Orders from $0.15 per 

option contract to $0.30 per option contract, and for 

P Orders from $0.25 per option contract to $0.45 per 

contract. The fee increase was made part of the 

current pilot program, which is scheduled to expire 

July 31, 2009. See Securities Exchange Act Release 

No. 59891 (May 8, 2009), 74 FR 22990 (May 15, 

2009) (SR–Phlx–2009–24). 

8 15 U.S.C. 78f(b). 

9 15 U.S.C. 78f(b)(4). 

10 15 U.S.C. 78s(b)(3)(A). 11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the self-regulatory organization 

to submit to the Commission written 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. The 

Exchange has satisfied this requirement. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.14

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–16172 Filed 7–8–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60210; File No. SR–Phlx– 

2009–53] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX, Inc.; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to the 

Extension of a Pilot Program Relating 

to Fees Applicable to ‘‘P’’ and ‘‘P/A’’ 

Orders 

July 1, 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 29, 

2009, NASDAQ OMX PHLX, Inc. 

(‘‘Phlx’’ or the ‘‘Exchange’’) 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 Exchange proposes to extend for 

a one-year period until July 31, 2010, a 

pilot program relating to transaction fees 

applicable to the execution of Principal 

Acting as Agent Orders (‘‘P/A Orders’’) 3

and Principal Orders (‘‘P Orders’’) 4 sent 

to the Exchange via the Intermarket 

Option Linkage (‘‘Linkage’’) under the 

Plan for the Purpose of Creating and 

Operating an Intermarket Option 

Linkage (the ‘‘Plan’’).5 The current pilot 

plan is scheduled to expire July 31, 

2009.6

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http:// 

nasdaqomxphlx.cchwallstreet.com/ 

NASDAQOMXPHLX/Filings/, at the 

principal office of the Exchange, 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 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 

The purpose of the proposed rule 

change is to extend the current pilot 

program for one year, through July 31, 

2010. No substantive changes are being 

made to the pilot as it currently operates 

other than to extend the pilot through 

July 31, 2010. 

Currently, the Exchange charges $0.45 

per option contract for P Orders sent to 

the Exchange and $0.30 per option 

contract for P/A Orders.7

By extending the current pilot 

program, the Exchange should remain 

competitive with other exchanges that 

charge fees for P Orders and P/A Orders. 

Consistent with current practice, the 

Exchange will charge the clearing 

member organization of the sender of P 

Orders and P/A Orders. Also, consistent 

with current practice, the Exchange will 

not charge for the execution of 

Satisfaction Orders sent through 

Linkage. 

2. Statutory Basis 

The Exchange believes the proposed 

rule change is consistent with Section 

6(b) of the Act,8 in general, and furthers 

the objectives of Section 6(b)(4) 9 of the 

Act in particular, in that it is designed 

to provide for the equitable allocation of 

reasonable dues, fees, and other charges 

among Exchange members and other 

persons using its facilities. The 

Exchange believes that its proposal to 

extend the pilot program relating to 

transaction fees for Linkage P and P/A 

Orders provides for the equitable 

allocation of reasonable dues, fees, and 

other charges among its members by 

charging the same fees to all such 

members using the Exchange’s facilities 

for transaction services relating to 

Linkage P Orders, and by charging the 

same fees to all such members using the 

Exchange’s facilities for transaction 

services relating to Linkage P/A Orders. 

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 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing proposed rule 

change: (i) Does not significantly affect 

the protection of investors or the public 

interest; (ii) does not impose any 

significant burden on competition; and 

(iii) by its terms, does not become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, if 

consistent with the protection of 

investors and the public interest, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 10 and Rule 

19b–4(f)(6) thereunder.11

At any time within 60 days of the 

filing of the proposed rule change, the 


rmajette on DSK29S0YB1 with NOTICES
32990 Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices 

12 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78a. 

3 17 CFR 240.19b–4. 

4See Securities Exchange Act Release No. 34– 

55162 (January 24, 2007), 72 FR 4738 (February 1, 

2007); Securities Exchange Act Release No. 34– 

56567 (September 27, 2007), 72 FR 56396 (October 

7, 2007). 

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

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–Phlx–2009–53 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–Phlx–2009–53. 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 

Number SR–Phlx–2009–53 and should 

be submitted on or before July 30, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.12

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–16178 Filed 7–8–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60225; File No. SR– 

NYSEAmex–2009–35] 

Self-Regulatory Organizations; NYSE 

Amex LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Amending Rule 960NY– 

Trading Differentials 

July 1, 2009. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),2 and Rule 19b–4 thereunder,3

notice is hereby given that on June 29, 

2009, NYSE Amex LLC (‘‘NYSE Amex’’ 

or the ‘‘Exchange’’) 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 the self-regulatory organization. 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 proposes to amend its 

option trading rules in order to extend 

the Penny Pilot in options classes in 

certain issues (‘‘Pilot Program’’) 

previously approved by the Securities 

and Exchange Commission 

(‘‘Commission’’) through October 31, 

2009. The text of the proposed rule 

change is attached as Exhibit 5 to the 

19b–4 form. A copy of this filing is 

available on the Exchange’s Web site at 

http://www.nyse.com, 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 

The Exchange hereby proposes to 

extend the time period of the Pilot 

Program 4 which is currently scheduled 

to expire on July 3, 2009 through 

October 31, 2009. This filing does not 

propose any substantive changes to the 

Pilot Program: All classes currently 

participating will remain the same and 

all minimum increments will remain 

unchanged. The Exchange believes the 

benefits to public customers and other 

market participants who will be able to 

express their true prices to buy and sell 

options have been demonstrated to 

outweigh the increase in quote traffic. 

The Exchange agrees to submit a 

report to the Commission that includes 

data and written analysis of information 

collected from May 1, 2009 through 

August 31, 2009 which will be 

submitted by the close of September 

2009. The report will analyze the impact 

of the Pilot Program on market quality 

and options systems capacity. This 

report will include, but is not limited to: 

(1) Data and written analysis on the 

number of quotations generated for 

options selected for the Pilot Program; 

(2) an assessment of the quotation 

spreads for the options selected for the 

Pilot Program; (3) an assessment of the 

impact of the Pilot Program on the 

capacity of the NYSE Amex’s automated 

systems; (4) any capacity problems or 

other problems that arose related to the 

operation of the Pilot Program and how 

the Exchange addressed them; and (5) 

an assessment of trade through 

complaints that were sent by the 

Exchange during the operation of the 

Pilot Program and how they were 

addressed. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) 5 of the 

Securities Exchange Act of 1934 (the 

‘‘Act’’), in general, and furthers the 


rmajette on DSK29S0YB1 with NOTICES