33506 Federal Register / Vol. 74, No. 132 / Monday, July 13, 2009 / Notices 

15 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 55301 

(February 15, 2007), 72 FR 8238 (February 23, 2007) 

(SR–Phlx-2007–08) (notice of filing and immediate 

effectiveness). The QOS Program has since been 

extended and is currently scheduled to expire on 

July 10, 2009. See Securities Exchange Act Release 

No. 58039 (June 26, 2008), 73 FR 38284 (July 3, 

2008) (SR–Phlx–2009–44) (notice of filing and 

immediate effectiveness). 

4Rule 1101A(b)(v) extends the QOS Program to 

Index Options (the ‘‘Index QOS Program’’). 

5The Exchange is making minor changes to 

Commentary .08 to Phlx Rule 1012 and Rule 

1101A(b)(v) to conform the Exchange’s rules to 

those of other exchanges such as, for example, 

CBOE Rules 5.5(e)(2) and 24.9(a)(2), regarding P.M. 

settlement and listing series in the fourth quarter of 

the next calendar year. 

Securities and Exchange Commission, 

100 F Street, NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–NASDAQ–2009–063. 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 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–NASDAQ–2009–063 and 

should be submitted on or before 

August 3, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.15

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–16451 Filed 7–10–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60249; File No. SR–Phlx– 

2009–50] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of a Proposed Rule Change by 

NASDAQ OMX PHLX, Inc. Relating to 

Permanent Approval of the Exchange’s 

Quarterly Option Series Pilot Program 

July 6, 2009. 

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

Securities Exchange Act of 1934 

(‘‘Act’’) 1, and Rule 19b–4 2 thereunder, 

notice is hereby given that on June 26, 

2009, NASDAQ OMX PHLX, Inc. 

(‘‘Phlx’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘SEC’’ or ‘‘Commission’’) the proposed 

rule change as described in Items I and 

II below, which Items have been 

prepared by Phlx. 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 

Phlx rules to amend its Rules 1012 

(Series of Options Open for Trading) 

and 1101A (Terms of Option Contracts), 

to make permanent the Exchange’s 

Quarterly Option Series Pilot Program 

(‘‘QOS Program’’). 

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, 

Phlx 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. Phlx 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 purpose of the proposed rule 

change is to make the QOS Program 

permanent. 

On July 9, 2007, the Exchange filed 

SR–Phlx-2007–08 with the Commission 

to establish the QOS Program.3 The 

QOS Program allows Phlx to list and 

trade options that expire at the close of 

business on the last business day of a 

calendar quarter (‘‘Quarterly Option 

Series’’ or ‘‘QOS’’). Under the QOS 

Program, Phlx may select up to five (5) 

currently listed option classes that are 

either Index Options and exchange 

traded fund (‘‘ETF’’) options on which 

Quarterly Option Series may be opened. 

In addition, Phlx may also list Quarterly 

Option Series on any options classes 

that are selected by other securities 

exchanges that employ a similar 

program under their respective rules.4

The Exchange may list series that 

expire at the end of the next consecutive 

four (4) calendar quarters, as well as the 

fourth quarter of the next calendar year. 

All Quarterly Option Series are P.M. 

settled.5

If an option is selected for 

participation in the QOS Program, the 

strike price of each Quarterly Option 

Series is fixed at a price per share, with 

at least two strike prices above and two 

strike prices below the approximate 

value of the underlying security at about 

the time the Quarterly Options Series is 

opened for trading on the Exchange. 

Phlx will list strikes prices for a 

Quarterly Option series that are within 

$5 from the closing price of the 

underlying on the preceding day. 

The Exchange may open for trading 

additional Quarterly Options Series of 

the same class when the Exchange 

deems it necessary to maintain an 

orderly market, to meet customer 

demand or when the market price of the 

underlying security moves substantially 

from the initial exercise price or prices. 

To the extent that any additional strike 

prices are listed by the Exchange, such 

additional strike prices shall be within 

thirty percent (30%) above or below the 

closing price of the underlying ETF on 

the preceding day. The Exchange may 

also open additional strike prices of 

Quarterly Option Series in ETF options 

that are more than 30% above or below 

the current price of the underlying ETF 

provided that demonstrated customer 

interest exists for such series, as 

expressed by institutional, corporate or 

individual customers or their brokers. 

Market-Makers trading for their own 

account shall not be considered when 

determining customer interest under 

this provision. The opening of the new 

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Federal Register / Vol. 74, No. 132 / Monday, July 13, 2009 / Notices 33507 

6See Securities Exchange Act Release No. 57583 

(March 31, 2008), 73 FR 18589 (April 4, 2008) (SR– 

Phlx–2008–23)(notice of filing and immediate 

effectiveness). 

7 Id. 

8See Securities Exchange Act Release No. 58943 

(November 13, 2008), 73 FR 70398 (November 20, 

2008) (SR–Phlx–2008–78) (notice of filing and 

immediate effectiveness). 

9The Index QOS Program found in Rule 1101A(v) 

is similar to the QOS Program in Rule 1012, but has 

several differences. Principal among them are, first, 

that the strike price of each QOS will be fixed with 

at least two, but not more than five, strike prices 

above and two, but not more than five, strike prices 

below the value of the underlying security at about 

the time that a QOS is opened for trading on the 

Exchange. Second, that the exercise price of each 

QOS opened for trading on the Exchange shall be 

reasonably related to the current index value of the 

underlying index to which such series relates at or 

about the time such series of options is first opened 

for trading on the Exchange (the term ‘‘reasonably 

related to the current index value of the underlying 

index’’ means that the exercise price is within thirty 

percent (30%) of the current index value). Third, 

that the Exchange may open additional strike prices 

of QOS that are below the value of the underlying 

index provided that the total number of strike 

prices below the value of the underlying index is 

no more than five. And fourth, there is no delisting 

policy in the Index QOS Program. 

10The requirements for the Report were recently 

set forth in Securities Exchange Act Release No. 

57583 (March 31, 2008), 73 FR 18589 (April 4, 

2008) (SR–Phlx–2008–23). 

11 15 U.S.C. 78f(b). 

12 15 U.S.C. 78f(b)(5). 

13 15 U.S.C. 78s(b)(3)(A). 

14 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6) requires a self-regulatory organization to give 

the Commission written notice of its intent to file 

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. Phlx has satisfied this requirement. 

15See Securities Exchange Act Release No. 60164 

(June 23, 2009), 74 FR 31333 (June 30, 2009) (SR– 

CBOE–2009–029) (approving the quarterly options 

series program on a permanent basis). 

Quarterly Options Series shall not affect 

the series of options of the same class 

previously opened. In addition to the 

initial listed series, the Exchange may 

list up to sixty (60) additional series per 

expiration month for each Quarterly 

Options Series in ETF options.6

The interval between strike prices on 

Quarterly Options Series shall be the 

same as the interval for strike prices for 

series in that same options class that 

expire in accordance with the normal 

monthly expiration cycle. By definition, 

Quarterly Option Series on an option 

class can never expire in the same week 

in which monthly option series on the 

same class expires. And, the Exchange 

will not list a Short Term Option Series 

on an options class the expiration of 

which coincides with that of a Quarterly 

Options Series on the same options 

class. 

The Exchange has adopted a delisting 

policy with respect to QOS in ETF 

options.7 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 a: (i) Strike higher 

than the highest strike price with open 

interest in the put and/or call series for 

a given expiration month; and (ii) strike 

lower than the lowest strike price with 

open interest in the put and/or call 

series for a given expiration month. 

Notwithstanding the delisting policy, 

customer requests to add strikes and/or 

maintain strikes in QOS in ETF options 

in series eligible for delisting shall be 

granted. 

Further, in connection with the 

delisting policy, if the Exchange 

identifies series for delisting, the 

Exchange shall notify other options 

exchanges with similar delisting 

policies regarding eligible series for 

listing, and shall work with such other 

exchanges to develop a uniform list of 

series to be delisted, so as to ensure 

uniform series delisting of multiply 

listed options classes. 

During the last quarter of 2008 (and 

for the new expiration month added 

after December Quarterly Option Series 

expiration), the Exchange was permitted 

to list up to one hundred (100) 

additional series per expiration month 

for each Quarterly Options Series in 

ETF options.8

The Exchange has selected the 

following five ETF option classes to 

participate in the QOS Program: 

DIAMONDS Trust (DIA) options, 

Standard and Poor’s Depositary 

Receipts/SPDRs (SPY) options, iShares 

Russell 2000 Index Fund (IWM) options, 

PowerShares QQQ Trust (QQQQ) 

options and Energy Select SPDR (XLE) 

options. Phlx believes the QOS Program 

has been successful and well received 

by its members and the investing public 

for the nearly three years that it has 

been in operation as a pilot.9

In support of approving the QOS 

Program on a permanent basis, the 

Exchange has submitted to the 

Commission a Quarterly Option 

Program Report (‘‘Report’’) detailing the 

Exchange’s experience with the QOS 

Program.10 Specifically, the Report 

contains data and written analysis 

regarding the five (5) ETF option classes 

included in the QOS Program. The 

Report was submitted under separate 

cover and seeks confidential treatment 

under the Freedom of Information Act. 

The Exchange believes there is 

sufficient investor interest and demand 

in the QOS Program to warrant its 

permanent approval. The Exchange 

believes that, for the nearly three years 

that the QOS Program has been in 

operation, it has provided investors 

with additional means of managing their 

risk exposures and carrying out their 

investment objectives. Furthermore, the 

Exchange has not experienced any 

capacity-related problems with respect 

to Quarterly Option Series. The 

Exchange also represents that it has the 

necessary system capacity to continue to 

support the option series listed under 

the QOS Program. 

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act 11 in general, and furthers the 

objectives of Section 6(b)(5) of the Act 12

in particular, in that it is designed 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, by 

making permanent the Exchange’s 

Quarterly Option Series Pilot Program. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Phlx 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. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments 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 after the date of 

the filing, 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 19(b)(3)(A) 

of the Act 13 and Rule 19b–4(f)(6) 

thereunder.14

The Exchange requests that the 

Commission waive the 30-day operative 

delay so that the Exchange can 

permanently establish a Quarterly 

Options Series Program that is 

consistent with those of other options 

exchanges.15 In addition, the 

Commission notes that the Exchange’s 

QOS Program currently is scheduled to 

expire on July 10, 2009. The 

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33508 Federal Register / Vol. 74, No. 132 / Monday, July 13, 2009 / Notices 

16For purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

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

Commission therefore has determined 

that waiving the 30-day operative delay 

of the Exchange’s proposal is consistent 

with the protection of investors and the 

public interest because such waiver will 

enable the Exchange to permanently 

establish the QOS program without 

disruption.16 Therefore, the 

Commission designates the proposal 

operative upon filing. 

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–Phlx-2009–50 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–2009–50. 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 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–2009–50 and should 

be submitted on or before August 3, 

2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–16452 Filed 7–10–09; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF TRANSPORTATION 

National Highway Traffic Safety 

Administration 

Reports, Forms and Record Keeping 

Requirements; Agency Information 

Collection Activity Under OMB Review 

AGENCY: National Highway Traffic 

Safety Administration, DOT. 

ACTION: Notice. 

SUMMARY: In compliance with the 

Paperwork Reduction Act of 1995 (44 

U.S.C. 3501 et seq.), this notice 

announces that the Information 

Collection Request (ICR) abstracted 

below has been forwarded to the Office 

of Management and Budget (OMB) for 

review and comment. The ICR describes 

the nature of the information collections 

and their expected burden. The Federal 

Register Notice with a 60-day comment 

period was published on February 19, 

2009 [FR Doc. 2009–0037, Vol. 74, No. 

32, Pages 7737–7738]. 

DATES: Comments must be submitted on 

or before August 12, 2009. 

FOR FURTHER INFORMATION CONTACT: 

Charlene Doyle, Contracting Officer’s 

Technical Representative, Office of 

Regulatory Analysis and Evaluation, 

National Highway Traffic Safety 

Administration, 1200 New Jersey Ave., 

SE., NVS–431, Washington, DC 20590. 

Ms. Doyle’s phone number is 202–366– 

1276 and her e-mail address is 

charlene.doyle@dot.gov. 

SUPPLEMENTARY INFORMATION: 

National Highway Traffic Safety 

Administration 

Title: An In-Depth Examination of 

Pedestrian Involved Hit and Run Traffic 

Crashes. 

OMB Number: 2127–New. 

Type of Request: Request for public 

comment on proposed collection of 

information. 

Abstract: The National Highway 

Traffic Safety Administration (NHTSA) 

was established to reduce the mounting 

number of deaths, injuries and 

economic losses resulting from motor 

vehicle crashes on the Nation’s 

highways. As part of this statutory 

mandate, NHTSA is authorized to 

conduct research as a foundation for the 

development of motor vehicle standards 

and traffic safety programs. Between 

1998 and 2007, of the more than 48,000 

pedestrian deaths recorded within the 

United States, over 9,000 (19 percent) 

were caused by hit-and-run drivers. The 

data collected in this survey of drivers, 

along with police crash and court data 

from 10 counties, will be used to 

identify areas for targeting 

improvements, identify scenarios in 

which hit-and-run collisions are more 

likely to occur, and assist in the 

selection of cost-effective 

countermeasures to reduce the 

incidence of pedestrian hit-and-run 

crashes. 

Affected Public: Individuals. 

Estimated Total Annual Burden: 855 

hours. 

ADDRESSES: Send comments, within 30 

days, to the Office of Information and 

Regulatory Affairs, Office of 

Management and Budget, 725–17th 

Street, NW., Washington, DC 20503, 

Attention NHTSA Desk Officer. 

Comments are invited on: Whether 

the proposed collection of information 

is necessary for the proper performance 

of the functions of the Department, 

including whether the information will 

have practical utility; the accuracy of 

the Department’s estimate of the burden 

of the proposed information collection; 

ways to enhance the quality, utility and 

clarity of the information to be 

collected; and ways to minimize the 

burden of the collection of information 

on respondents, including the use of 

automated collection techniques or 

other forms of information technology. 

A comment to OMB is most effective if 

OMB receives it within 30 days of 

publication. 

mstockstill on DSKH9S0YB1PROD with NOTICES