34608 Federal Register / Vol. 74, No. 135 / Thursday, July 16, 2009 / Notices 

18For 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). 

19 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3The Commission notes that the proposed 

regulatory fees are as follows: 

Initial Regulatory Review Fee: This fee is charged 

to any CBSX Trading Permit Holder applicant that 

applies for a CBSX Trading Permit that, if approved, 

would result in CBOE serving as the Trading Permit 

Holder’s designated examining authority. The 

amount of the fee is $2,500. 

Monthly Regulatory Fee: This fee is charged to 

any CBSX Trading Permit Holder for whom CBOE 

acts as the Trading Permit Holder’s designated 

examining authority. The amount of the fee is 

$2,500 per month. 

4The Commission notes that the proposed 

inactivity fee is as follows: 

This fee is charged to any CBSX Trading Permit 

Holder that trades less than an average of 50,000 

shares per day over a calendar month period. This 

fee will be calculated monthly. The amount of this 

fee is $5,000 per month. 

the compliance period will resume at 

the same stage and receive the 

remaining balance of its compliance 

period if they remain non-compliant 

with these standards. For these reasons, 

the Commission designates that the 

proposed rule change become operative 

immediately upon filing.18

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission may summarily abrogate 

the 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 Exchange 

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–2009–64 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–2009–64. 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, on official business days between 

the hours of 10 am and 3 pm. 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–NYSE– 

2009–64 and should be submitted on or 

before August 6, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.19

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–16859 Filed 7–15–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60264; File No. SR–CBOE– 

2009–045] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change To Amend Its CBOE 

Stock Exchange (‘‘CBSX’’) Fees 

Schedule To Establish Regulatory and 

Inactivity Fees 

July 8, 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 July 1, 

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 Exchange proposes to amend its 

CBOE Stock Exchange (‘‘CBSX’’) Fees 

Schedule to establish regulatory and 

inactivity fees. The text of the proposed 

rule change is available on the 

Exchange’s Web site (http:// 

www.cboe.org/legal), at the Exchange’s 

Office of the Secretary, and at the 

Commission. 

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 the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend its 

CBSX Fees Schedule to impose new 

CBSX regulatory fees 3 and an inactivity 

fee. 4 Currently, CBOE charges no fee to 

CBSX Trading Permit Holders who 

either apply for CBOE to act as their 

designated examining authority or for 

whom CBOE acts as the designated 

examining authority. However, 

processing these applications and acting 

as the regulatory authority can be costly 

and time-intensive, so it is necessary 

that CBOE be compensated for these 

expenses so that CBOE can pay the costs 

associated with them. The proposed 

Inactivity Fee will ensure that Trading 

Permit Holders are sufficiently active on 

CBSX (CBSX is only authorized to issue 

100 CBSX Trading Permits). The 

Exchange believes the regulatory fees 

are reasonable in that they help offset 

costs incurred in connection with CBSX 

regulation. The Exchange also believes 

the inactivity fee is appropriate since 

CBSX is only permitted to issue a finite 

number of Trading Permits and when 


erowe on DSK5CLS3C1PROD with NOTICES
Federal Register / Vol. 74, No. 135 / Thursday, July 16, 2009 / Notices 34609 

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

6 15 U.S.C. 78f(b)(4). 

7 15 U.S.C. 78s(b)(3)(A)(ii). 

8 17 C.F.R. 240.19b–4(f)(2). 9 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. 

4The NYSE, a New York limited liability 

company, is an indirect wholly-owned subsidiary of 

NYSE Euronext. 

5See Section 3.4 of the ‘‘Amended and Restated 

Bylaws of NYSE Euronext.’’ The provisions of any 

other internal policy documents of the Corporation 

containing substantially equivalent language will be 

modified to conform with the proposed Bylaw and 

Director Independence Policy changes. 

permits are occupied by users that don’t 

engage in meaningful trading on CBSX, 

it could be at the expense of a potential 

permit holder that might be willing to 

add meaningful liquidity to the CBSX 

marketplace. 

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6(b) of the 

Securities Exchange Act of 1934 

(‘‘Act’’), 5 in general, and furthers the 

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

in particular, in that it is designed to 

provide for the equitable allocation of 

reasonable dues, fees, and other charges 

among CBOE members and other 

persons using its facilities. 

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 

The proposed rule change is 

designated by the Exchange as 

establishing or changing a due, fee, or 

other charge, thereby qualifying for 

effectiveness on filing pursuant to 

Section 19(b)(3)(A)(ii) 7 of the Act and 

subparagraph (f)(2) of Rule 19b–4 8

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 proposal 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 

No. SR–CBOE–2009–045 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 No. 

SR–CBOE–2009–045. 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 CBOE. 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 No. 

SR–CBOE–2009–045 and should be 

submitted on or before August 6, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Elizabeth M. Murphy, 

Secretary. 

[FR Doc. E9–16858 Filed 7–15–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60261; File No. SR–NYSE– 

2009–60] 

Self-Regulatory Organizations; Notice 

of Filing of Proposed Rule Change by 

New York Stock Exchange LLC in 

Connection With the Proposal of NYSE 

Euronext To Require That at Least 

Three-Fourths of Its Directors Satisfy 

Independence Requirements 

July 8, 2009. 

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

Securities Exchange Act of 1934 (the 

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

notice is hereby given that, on June 23, 

2009, New York Stock Exchange LLC 

(‘‘NYSE’’ 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 selfregulatory 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 is submitting this rule 

filing in connection with the proposal of 

its ultimate parent, NYSE Euronext (the 

‘‘Corporation’’),4 to amend its bylaws 

and Director Independence Policy to 

require that at least three-fourths of the 

members of its Board of Directors shall 

satisfy the independence requirements 

for directors of the Corporation. 

Currently the bylaws and Director 

Independence Policy require that all 

members of the Board of Directors, other 

than the Chief Executive Officer and the 

Deputy Chief Executive Officer, shall 

satisfy the independence requirements.5

The text of the proposed rule change is 

attached hereto as Exhibit 5 [sic], and is 

available on the Exchange’s Web site at 

http://www.nyse.com, at the Exchange’s 

principal office, and at the Public 

Reference Room of the Commission. 


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