Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices 32987 

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

2 17 CFR 240.19b–4. 

3See e.g., Exchange Rule 1080(b)(i)(A) which 

defines customer order as [sic] ‘‘* * * is any order 

entered on behalf of a public customer, and does 

not include any order entered for the account of a 

broker-dealer, or any account in which a brokerdealer or an associated person of a broker-dealer has 

any direct or indirect interest.’’ 

4The Exchange previously referred to the 

electronic order delivery, routing, execution and 

reporting system as AUTOM. This system provided 

for the automatic entry and routing of equity option 

and index option orders to the Exchange trading 

floor. See Exchange Rule 1080. The Exchange filed 

a rule change which replaced the terms AUTOM 

and AUTO–X with the Phlx XL System, such that 

references to both terms refer to Phlx XL. See 

Securities Exchange Act Release No. 59995 (May 

28, 2009), 74 FR 26750 (June 3, 2009) (SR–Phlx– 

2009–32). Therefore, in light of the rule change 

references to AUTOM have been replaced with the 

Continued 

Document description Accession No. 

December 10, 2007, WCS 

request for modification to 

Order ................................. ML073550638 

November 2004 Letter to 

WCS re: SNM exemption 

request .............................. ML043020621 

November 2001 Letter to 

WCS re: SNM exemption 

request .............................. ML030130085 

If you do not have access to ADAMS 

or if there are problems in accessing the 

documents located in ADAMS, contact 

the NRC’s Public Document Room (PDR) 

Reference staff at 1–800–397–4209, 301– 

415–4737, or by e-mail to pdr@nrc.gov. 

These documents may also be viewed 

electronically on the public computers 

located at the NRC’s PDR, O 1 F21, One 

White Flint North, 11555 Rockville 

Pike, Rockville, MD 20852. The PDR 

reproduction contractor will copy 

documents for a fee. 

Dated at Rockville, Maryland, this 30th day 

of June 2009. 

For the Nuclear Regulatory Commission. 

Patrice M. Bubar, 

Deputy Director, Environmental Protection 

and Performance Assessment Directorate, 

Division of Waste Management and 

Environmental Protection, Office of Federal 

and State Materials and Environmental 

Management Programs. 

[FR Doc. E9–16143 Filed 7–8–09; 8:45 am] 

BILLING CODE 7590–01–P 

POSTAL SERVICE 

Sunshine Act Meeting 

Board Votes To Close July 15, 2009, 

Meeting 

At its closed session meeting on June 

23, 2009, the Board of Governors of the 

United States Postal Service voted 

unanimously to close to public 

observation its meeting to be held on 

July 15, 2009, in Washington, DC via 

teleconference. The Board determined 

that no earlier public notice was 

possible. 

ITEMS CONSIDERED: 

1. Financial Matters. 

2. Strategic Issues. 

3. Pricing. 

4. Personnel Matters and 

Compensation Issues. 

5. Governors’ Executive Session— 

discussion of prior agenda items and 

Board Governance. 

GENERAL COUNSEL CERTIFICATION: The 

General Counsel of the United States 

Postal Service has certified that the 

meeting is properly closed under the 

Government in the Sunshine Act. 

CONTACT PERSON FOR MORE INFORMATION: 

Requests for information about the 

meeting should be addressed to the 

Secretary of the Board, Julie S. Moore, 

at (202) 268–4800. 

Julie S. Moore, 

Secretary. 

[FR Doc. E9–16373 Filed 7–7–09; 4:15 pm] 

BILLING CODE 7710–12– P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60188; File No. SR–Phlx– 

2009–48] 

Self-Regulatory Organizations; 

NASDAQ OMX PHLX, Inc.; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to the 

Cancellation Fee 

June 29, 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 19, 

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, 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 aggregate 

options orders within a specified time 

period for the purpose of assessing the 

Cancellation Fee. In addition, the 

Exchange purposes several technical 

amendments to delete obsolete language 

and further clarify the Fee Schedule. 

While changes to the Exchange’s fee 

schedule pursuant to this proposal are 

effective upon filing, the Exchange has 

designated this proposal to be effective 

on July 1, 2009. 

The text of the proposed rule change 

is available on the Exchange’s Web site 

at http://www.nasdaqtrader.com/ 

micro.aspx?id=PHLXRulefilings, 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 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 

The purpose of the proposed rule 

change is to amend the manner in 

which the Cancellation Fee is assessed 

on members. In order to calculate the 

Cancellation Fee, the Exchange 

proposes to aggregate and count as one 

executed customer 3 option order all 

customer orders from the same member 

organization that are executed in the 

same series on the same side of the 

market at the same price within a 300 

second period. The Exchange believes 

the level of cancelled orders remains 

high. Some customers are seeking to 

avoid the fee by executing large 

quantities of small orders in out-of-themoney options to offset their 

cancellation activity in more actively 

traded options. The Exchange believes 

this modification to the calculation of 

the Cancellation Fee is necessary for the 

Exchange to recover costs associated 

with system congestion. 

Currently, the Exchange assesses a 

Cancellation Fee of $ 2.10 per order on 

member organizations for each 

cancelled electronically 4 delivered 


rmajette on DSK29S0YB1 with NOTICES
32988 Federal Register / Vol. 74, No. 130 / Thursday, July 9, 2009 / Notices 

words electronically delivered in describing the 

Cancellation Fee. 

5A cancel-replacement order is a contingency 

order consisting of two or more parts which require 

the immediate cancellation of a previously received 

order prior to the replacement of a new order with 

new terms and conditions. If the previously placed 

order is already filled partially or in its entirety the 

replacement order is automatically canceled or 

reduced by such number. See Exchange Rule 

1066(c)(7). 

6See Securities Exchange Act Release Nos. 53226 

(February 3, 2006), 71 FR 7602 (February 13, 

2006)(SR–Phlx–2005–92); and 53670 (April 18, 

2006), 71 FR 21087 (April 24, 2006) (SR–Phlx– 

2006–21). See also Securities Exchange Act Release 

No. 60046 (June 4, 2009), 74 FR 28083 (June 12, 

2009) (SR–Phlx–2009–44). 

7A Complex Order is composed of two or more 

option components and is priced as a single order 

(a ‘‘Complex Order Strategy’’) on a net debit or net 

credit basis. 

8An Immediate-or-Cancel (IOC) order is a limit 

order that is to be executed in whole or in part upon 

receipt. Any portion not so executed shall be 

cancelled. 

9See Securities Exchange Act Release No. 59545 

(March 9, 2009); 74 FR 11158 (March 16, 2009) (SR– 

Phlx–2009–20). 

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

11 15 U.S.C. 78f(b)(4). 

12 15 U.S.C. 78s(b)(3)(A)(ii). 

13 17 CFR 240.19b–4(f)(2). 

customer order in excess of the number 

of customer orders executed on the 

Exchange by that member organization 

in a given month. The Exchange 

calculates the Cancellation Fee by 

aggregating all customer orders and 

cancels received by the Exchange and 

totaling those orders by member 

organization. At least 500 customer 

cancellations must be made in a given 

month by a member organization in 

order for a member organization to be 

assessed the Cancellation Fee. The 

Cancellation Fee is not assessed in a 

month in which fewer than 500 

electronically delivered customer orders 

are cancelled. Simple cancels and 

cancel-replacement orders are the types 

of orders that are counted when 

calculating the number of electronically 

delivered orders.5 The following order 

activity is exempt from the Cancellation 

Fee: (i) Pre-market cancellations; 6 (ii) 

Complex Orders 7 that are submitted 

electronically; (iii) unfilled Immediateor-Cancel 8 customer orders; and (iv) 

cancelled customer orders that 

improved the Exchange’s prevailing bid 

or offer (PBBO) market at the time the 

customer orders were received by the 

Exchange. 

Additionally, the Exchange proposes 

to amend the Fee Schedule at endnote 

5 to replace the current language: ‘‘Firm 

Proprietary Options Transaction Charge 

applies to firm proprietary orders (‘‘F’’ 

account type) in all products’’ to state 

instead that it applies to ‘‘* * * equity 

option products.’’ The language in the 

Fee Schedule was amended by a 

previous rule change 9 and was 

inadvertently omitted from the 

corresponding endnote. The Exchange 

also proposes to make a technical 

amendment to the Fee Schedule to 

replace all references to AUTOM with 

the words ‘‘electronically delivered.’’ As 

previously stated herein, the Exchange 

has modified Rule 1080 to replace the 

terms AUTOM and AUTO–X with the 

Phlx XL System, such that references to 

both terms refer to Phlx XL. Therefore, 

in light of the rule change the Exchange 

proposes to replace references to 

AUTOM with the words ‘‘electronically 

delivered’’ to correspond with Exchange 

Rule 1080. 

2. Statutory Basis 

The Exchange believes that its 

proposal to amend its schedule of fees 

is consistent with Section 6(b) of the 

Act 10 in general, and furthers the 

objectives of Section 6(b)(4) of the Act 11

in particular, in that it is an equitable 

allocation of reasonable fees and other 

charges among Exchange members. The 

Exchange believes that the proposed 

amendments to the Cancellation Fee 

will continue to fairly allocate costs 

among members according to system 

use as well as ease system congestion. 

Additionally, the proposed technical 

amendments will clarify the Fee 

Schedule. 

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 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 either 

solicited or received. 

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)(ii) of the Act 12 and 

paragraph (f)(2) of Rule 19b–4 13

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 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–2009–48 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–2009–48. 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–2009–48 and should 

be submitted on or before July 30, 2009. 


rmajette on DSK29S0YB1 with NOTICES
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