Document ID: SEC-2010-0692-0001
Agency: sec
Document Type: Notice
Title: Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Posted Date: 2010-05-11T04:00Z

[Federal Register: May 11, 2010 (Volume 75, Number 90)]
[Notices]               
[Page 26299-26301]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11my10-135]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62031; File No. SR-NYSEArca-2010-39]

 
Self-Regulatory Organizations; Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by NYSE Arca, Inc. Adding 75 
Options Classes to the Penny Pilot Program

May 4, 2010.
    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 April 28, 2010, NYSE Arca, Inc. (``NYSE Arca'' 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 self-regulatory 
organization. The Commission is publishing this notice to solicit 
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to designate 75 options classes to be added 
to the Penny Pilot Program for Options (``Penny Pilot'' or ``Pilot'') 
on May 3, 2010. There are no changes to the rule text. 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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    NYSE Arca proposes to identify the next 75 options classes to be 
added to the Penny Pilot effective May 3, 2010. The Exchange recently 
received approval to extend and expand the Pilot through December 31, 
2010.\4\ In that filing, the Exchange had proposed expanding the Pilot 
on a quarterly basis to add the next 75 most actively traded multiply 
listed options classes based on national average daily volume for the 
six months prior to selection, closing under $200 per share on the 
Expiration Friday prior to expansion, except that the month immediately 
preceding their addition to the Penny Pilot will not be

[[Page 26300]]

used for the purpose of the six month analysis.\5\
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    \4\ See Exchange Act Release No. 60711 (September 23, 2009), 74 
FR 49419 (September 28, 2009) (order approving SR-NYSEArca-2009-44).
    \5\ Index products would be included in the expansion if the 
underlying index level was under 200.
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    NYSE Arca proposes adding the following 75 options classes to the 
Penny Pilot on May 3, 2010, based on national average daily volume from 
October 1, 2009 through March 31, 2010:

------------------------------------------------------------------------
    Nat'l Ranking              Symbol                Security name
------------------------------------------------------------------------
153..................  XLV..................  Health Care Select Sector
                                               SPDR Fund.
155..................  CIEN.................  Ciena Corp.
157..................  AMLN.................  Amylin Pharmaceuticals
                                               Inc.
158..................  CTIC.................  Cell Therapeutics Inc.
159..................  MDT..................  Medtronic Inc.
162..................  TIVO.................  TiVo Inc.
163..................  MNKD.................  MannKind Corp.
171..................  MDVN.................  Medivation Inc.
176..................  BRKB.................  Berkshire Hathaway Inc.
178..................  APOL.................  Apollo Group Inc.
181..................  BSX..................  Boston Scientific Corp.
185..................  XLY..................  Consumer Discretionary
                                               Sel. Sec. SPDR Fund.
188..................  CLF..................  Cliffs Natural Resources
                                               Inc.
190..................  ZION.................  Zions Bancorporation.
194..................  IOC..................  InterOil Corp.
197..................  ITMN.................  InterMune Inc.
204..................  GME..................  GameStop Corp.
209..................  XLK..................  Technology Select Sector
                                               SPDR Fund.
210..................  AKS..................  AK Steel Holding Corp.
212..................  GRMN.................  Garmin Ltd.
213..................  MRVL.................  Marvell Technology Group
                                               Ltd.
215..................  XLP..................  Consumer Staples Select
                                               Sector SPDR Fund.
216..................  UNP..................  Union Pacific Corp.
220..................  DTV..................  DIRECTV.
223..................  WMB..................  Williams Cos Inc/The.
225..................  MEE..................  Massey Energy Co.
227..................  CELG.................  Celgene Corp.
229..................  GMCR.................  Green Mountain Coffee
                                               Roasters Inc.
231..................  WDC..................  Western Digital Corp.
234..................  DAL..................  Delta Air Lines Inc.
235..................  FXE..................  CurrencyShares Euro Trust.
237..................  COST.................  Costco Wholesale Corp.
239..................  MJN..................  Mead Johnson Nutrition Co.
240..................  ALL..................  Allstate Corp/The.
241..................  SII..................  Smith International Inc.
242..................  RTN..................  Raytheon Co.
243..................  DVN..................  Devon Energy Corp.
244..................  MT...................  ArcelorMittal.
247..................  JCP..................  JC Penney Co Inc.
248..................  ACL..................  Alcon Inc.
249..................  STP..................  Suntech Power Holdings Co
                                               Ltd.
250..................  TLB..................  Talbots Inc.
251..................  SYMC.................  Symantec Corp.
253..................  AMED.................  Amedisys Inc.
255..................  TM...................  Toyota Motor Corp.
257..................  HK...................  Petrohawk Energy Corp.
258..................  ENER.................  Energy Conversion Devices
                                               Inc.
259..................  STT..................  State Street Corp.
260..................  BHP..................  BHP Billiton Ltd.
261..................  NFLX.................  NetFlix Inc.
262..................  LDK..................  LDK Solar Co Ltd.
263..................  SPG..................  Simon Property Group Inc.
264..................  TIF..................  Tiffany & Co.
265..................  BUCY.................  Bucyrus International Inc.
266..................  WAG..................  Walgreen Co.
268..................  IP...................  International Paper Co.
271..................  XME..................  SPDR S&P Metals & Mining
                                               ETF.
272..................  KGC..................  Kinross Gold Corp.
273..................  EP...................  El Paso Corp.
274..................  SEED.................  Origin Agritech Ltd.
275..................  WIN..................  Windstream Corp.
279..................  DHI..................  DR Horton Inc.
280..................  ADBE.................  Adobe Systems Inc.
281..................  PCX..................  Patriot Coal Corp.
282..................  SPWRA................  SunPower Corp.
284..................  LCC..................  US Airways Group Inc.
285..................  PRU..................  Prudential Financial Inc.
286..................  LEN..................  Lennar Corp.
287..................  EWT..................  iShares MSCI Taiwan Index
                                               Fund.
288..................  KBH..................  KB Home.
289..................  CREE.................  Cree Inc.
290..................  SIRI.................  Sirius XM Radio Inc.
291..................  MMR..................  McMoRan Exploration Co.
292..................  CENX.................  Century Aluminum Co.
293..................  GFI..................  Gold Fields Ltd.
------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
and furthers the objectives of Section 6(b)(5) of the Act, in that it 
is designed to promote just and equitable principles of trade, remove 
impediments to and perfect the mechanisms of a free and open market and 
a national market system and, in general, to protect investors and the 
public interest, by identifying the options classes to be added to the 
Pilot in a manner consistent with prior approvals and filings.

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

    The proposed rule change is effective upon filing pursuant to 
Section 19(b)(3)(A)(i) \6\ of the Act and Rule 19b-4(f)(1) \7\ 
thereunder, in that it constitutes a stated policy, practice, or 
interpretation with respect to the meaning, administration, or 
enforcement of an existing rule of the Exchange. 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.
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    \6\ 15 U.S.C. 78s(b)(3)(A)(i).
    \7\ 17 CFR 240.19b-4(f)(1).
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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 rule-comments@sec.gov. Please include 
File Number SR-NYSEArca-2010-39 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-NYSEArca-2010-39. 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

[[Page 26301]]

available for Web site viewing and copying in the Commission's Public 
Reference Section, 100 F Street, NE., Washington, DC 20549-1090 on 
official business days between the hours of 10 a.m. and 3 p.m. Copies 
of the filing will also be available for inspection and copying at NYSE 
Arca's principal office. 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-NYSEArca-2010-39 and should be submitted on or before June 1, 2010.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-11093 Filed 5-10-10; 8:45 am]
BILLING CODE 8010-01-P