Document ID: SEC-2012-1342-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2012-08-15T04:00Z

[Federal Register Volume 77, Number 158 (Wednesday, August 15, 2012)]
[Notices]
[Page 49044]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-19983]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67632; File No. SR-NYSEArca-2012-64]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of 
Designation of a Longer Period for Commission Action on Proposed Rule 
Change To List and Trade Option Contracts Overlying 10 Shares of a 
Security

August 9, 2012.
    On June 15, 2012, NYSE Arca, Inc. (``Exchange'') filed with the 
Securities and Exchange Commission (``Commission''), pursuant to 
Section 19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ 
and Rule 19b-4 thereunder,\2\ a proposed rule change to list and trade 
option contracts overlying 10 shares of a security. The proposed rule 
change was published for comment in the Federal Register on July 3, 
2012.\3\ The Commission received two comment letters on this 
proposal.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 67283 (June 27, 
2012), 77 FR 39535.
    \4\ See letters to Elizabeth M. Murphy, Secretary, Commission, 
from Christopher Nagy, President, KOR Trading LLC, dated July 10, 
2012 and Edward T. Tilly, President and Chief Operating Officer, 
Chicago Board Options Exchange, Incorporated, dated July 24, 2012.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is August 17, 2012. The Commission is 
extending this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider this proposed rule change, which would 
allow the listing of a new type of options product, the comment letters 
that have been submitted in connection with this proposed rule change, 
and any response to the comment letters submitted by the Exchange.
    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\6\ designates October 1, 2012 as the date by which the Commission 
should either approve or disapprove, or institute proceedings to 
determine whether to disapprove, the proposed rule change (File No. SR-
NYSEArca-2012-64).
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\7\
---------------------------------------------------------------------------

    \7\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-19983 Filed 8-14-12; 8:45 am]
BILLING CODE 8011-01-P