Federal Register / Vol. 74, No. 137 / Monday, July 20, 2009 / Notices 35217 

13 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. 

4 15 U.S.C. 78s(b)(3)(A). 

5 17 CFR 240.19b–4(f)(6). 

6A Cabinet Trade is also known as an 

Accommodation Transaction. 

7See Securities Exchange Act Release No. 59472 

(February 27, 2009), 74 FR 9843 (March 6, 2009) 

(order approving NYSEALTR–2008–14, as 

amended). 

8See Securities Exchange Act Release No. 59454 

(February 25, 2009), 74 FR 9461 (March 4, 2009) 

(notice of filing and immediate effectiveness of 

NYSEALTR–2009–17). 

9NYSE Amex proposes to adopt new rules related 

to the transfer of options positions as part of a 

separate rule filing. 

10Certain option issues on NYSE Amex are traded 

pursuant to a Penny Pilot Program scheduled to run 

through July 3, 2009. 

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

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

All submissions should refer to File 

Number SR–CBOE–2009–049. 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 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 

Number SR–CBOE–2009–049 and 

should be submitted on or before 

August 10, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–17134 Filed 7–17–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60296; File No. SR– 

NYSEAmex–2009–37] 

Self-Regulatory Organizations; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change by NYSE 

Amex LLC Adopting Rule 968NY– 

Cabinet Trades 

July 13, 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 30, 

2009, NYSE Amex (‘‘NYSE Amex’’ or 

the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the self-regulatory organization. The 

Exchange filed the proposed rule change 

pursuant to Section 19(b)(3)(A) of the 

Act 4 and Rule 19b–4(f)(6) thereunder,5

which renders it effective upon filing 

with the Commission. 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 adopt Rule 

968NY–Cabinet Trades. 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 

NYSE Amex proposes to adopt new 

Rule 968NY which will govern cabinet 

trading.6 The proposed rule is 

substantially similar to NYSE Arca Rule 

6.80. 

On March 2, 2009 NYSE Amex 

(f/k/a NYSE Alternext US LLC, f/k/a 

The American Stock Exchange LLC 

(collectively ‘‘Amex’’)) adopted a new 

rule set governing the trading of 

options.7 Much of the new rule set was 

based on the rules of NYSE Arca Inc. 

(‘‘NYSE Arca’’). In conjunction with the 

filing of the new rule set, the Exchange 

filed a separate proposal deleting many 

out-of-date and/or obsolete rules.8

Included as part of this filing was the 

deletion of former Amex Rule 959– 

Accommodation [sic] Transactions, 

which contained provisions governing 

both cabinet trading and position 

transfers. However, when filing the new 

rule set the Exchange inadvertently 

failed to include new rules governing 

cabinet trading. 

The Exchange now proposes to add a 

new rule governing the trading of 

cabinet orders.9 A brief description of 

the rules change is shown below. 

Cabinet Trading 

A cabinet order is a limit order in a 

non-Penny Pilot issue, which has been 

priced at $1.00.10 Cabinet orders serve 

as a way for market participants to 

liquidate a worthless, or near worthless 

position, at a minimal cost. 

Prior to the adoption of the present 

NYSE Amex trading system, all cabinet 

trading on the Amex was done on a 

manual basis. Therefore, previous Rule 

Amex 959(a) dealt only with cabinet 

trading in open outcry. The Exchange 

now proposes to adopt new Rule 968NY 

which will govern both manual and 

electronic cabinet trading. This 

proposed rule is similar in all material 

respects to NYSE Arca Rule 6.80, which 

also governs both manual and electronic 

cabinet trading. 

2. Statutory Basis 

The Exchange believes that for these 

reasons the proposed rule change 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, because it is designed to 

prevent fraudulent and manipulative 

acts and practices, to promote just and 

equitable principles of trade, to foster 

cooperation and coordination with 

persons engaged in facilitating 

transactions in securities, and to remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system. This 

proposal adds a new rule governing the 


erowe on DSK5CLS3C1PROD with NOTICES
35218 Federal Register / Vol. 74, No. 137 / Monday, July 20, 2009 / Notices 

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

14 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. 

15See supra notes 7 and 8 and accompanying 

text. 

16For purposes only of waiving the 30-day 

operative delay of this proposal, 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). 

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

2 15 U.S.C. 78s(b)(3)(A)(ii). 

3 17 CFR 240.19b–4(f)(2). 

trading of cabinet orders, based on 

NYSE Arca Rule 6.80. 

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 

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 

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 

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 13 and Rule 19b–4(f)(6) 

thereunder.14

The Exchange has requested the 

Commission to waive the 30-day 

operative delay because the proposal 

will afford market participants on the 

Exchange the same opportunity to 

execute cabinet trades as is afforded to 

market participants on other exchanges. 

The Commission notes that the 

Exchange deleted its former rule on 

cabinet trading in March of this year 

and inadvertently failed to include a 

new rule on cabinet trading in its new 

rule set governing options trading.15 The 

Commission believes waiving the 30- 

day operative delay to provide NYSE 

Amex market participants the ability to 

immediately engage in cabinet trading, 

as necessary, is consistent with the 

protection of investors and the public 

interest.16 Accordingly, the Commission 

designates the proposed rule change 

operative upon filing with the 

Commission. 

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–NYSEAmex–2009–37 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–NYSEAmex–2009–37. 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 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– 

NYSEAmex–2009–37 and should be 

submitted on or before August 10, 2009. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.17

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E9–17135 Filed 7–17–09; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–60298; File No. SR–FICC– 

2008–07] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to Fee 

Schedules 

July 13, 2009. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 notice is hereby given that on 

December 31, 2009, the Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) and on 

January 12, 2009, May 11, 2009, and 

June 24, 2009, amended the proposed 

rule change as described in Items I, II, 

and III below, which Items have been 

prepared primarily by FICC. FICC filed 

the proposed rule change pursuant to 

Section 19(b)(3)(A)(ii) of the Act 2 and 

Rule 19b–4(f)(2) thereunder 3 so that the 

proposal was effective upon filing with 

the Commission. 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 proposed rule change will amend 

FICC’s Government Securities Division’s 

(‘‘GSD’’) and Mortgage Backed 

Securities Division’s (‘‘MBSD’s’’) fees. 


erowe on DSK5CLS3C1PROD with NOTICES