[Federal Register Volume 75, Number 90 (Tuesday, May 11, 2010)]
[Notices]
[Pages 26310-26311]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-11135]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62042; File No. SR-ISE-2010-42]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change To Add 75 Options Classes to the Penny Pilot Program
May 5, 2010.
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 April 29, 2010, the International Securities Exchange, LLC (the
``Exchange'' or the ``ISE'') filed with the Securities and Exchange
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\ 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 ISE proposes to designate 75 options classes to be added to the
pilot program to quote and to trade certain options in pennies (the
``Penny Pilot'') on May 3, 2010.
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 these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
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
Purpose--ISE 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 Penny Pilot through December
31, 2010.\3\ In that filing, the Exchange had proposed expanding the
Penny 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 used for the purpose of the six month analysis.\4\
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\3\ See Securities Exchange Act Release No. 60865 (October 22,
2009), 74 FR 55880 (October 29, 2009) (SR-ISE-2009-82). The
Commission notes that this proposed rule change was submitted
pursuant to Section 19(b)(3)(A)(iii) of the Act and was, therefore,
effective upon filing. The Commission does not approve proposed rule
changes submitted pursuant to this section of the Act.
\4\ Index products would be included in the expansion if the
underlying index level was under 200.
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ISE proposes to add the following 75 options classes to the Penny
Pilot on May 3, 2010, based on national average daily volume for the
six months ending March 31, 2010:
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Nat'l ranking Symbol Security name Nat'l ranking Symbol Security name
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153............ XLV Health Care Select 247........... JCP JC Penney Co Inc.
Sector SPDR Fund.
155............ CIEN Ciena Corp. 248........... ACL Alcon Inc.
157............ AMLN Amylin 249........... STP Suntech Power
Pharmaceuticals Inc. Holdings Co Ltd.
158............ CTIC Cell Therapeutics 250........... TLB Talbots Inc.
Inc.
159............ MDT Medtronic Inc. 251........... SYMC Symantec Corp.
162............ TIVO TiVo Inc. 253........... AMED Amedisys Inc.
163............ MNKD MannKind Corp. 255........... TM Toyota Motor Corp.
171............ MDVN Medivation Inc. 257........... HK Petrohawk Energy
Corp.
176............ BRKB Berkshire Hathaway 258........... ENER Energy Conversion
Inc. Devices Inc.
178............ APOL Apollo Group Inc. 259........... STT State Street Corp.
181............ BSX Boston Scientific 260........... BHP BHP Billiton Ltd.
Corp.
185............ XLY Consumer 261........... NFLX NetFlix Inc.
Discretionary Sel.
Sec. SPDR Fund.
188............ CLF Cliffs Natural 262........... LDK LDK Solar Co Ltd.
Resources Inc.
190............ ZION Zions Bancorporation. 263........... SPG Simon Property
Group Inc.
194............ IOC InterOil Corp. 264........... TIF Tiffany & Co.
197............ ITMN InterMune Inc. 265........... BUCY Bucyrus
International Inc.
[[Page 26311]]
204............ GME GameStop Corp. 266........... WAG Walgreen Co.
209............ XLK Technology Select 268........... IP International Paper
Sector SPDR Fund. Co.
210............ AKS AK Steel Holding 271........... XME SPDR S&P Metals &
Corp. Mining ETF.
212............ GRMN Garmin Ltd. 272........... KGC Kinross Gold Corp.
213............ MRVL Marvell Technology 273........... EP El Paso Corp.
Group Ltd.
215............ XLP Consumer Staples 274........... SEED Origin Agritech
Select Sector SPDR Ltd.
Fund.
216............ UNP Union Pacific Corp. 275........... WIN Windstream Corp.
220............ DTV DIRECTV. 279........... DHI DR Horton Inc.
223............ WMB Williams Cos Inc/The. 280........... ADBE Adobe Systems Inc.
225............ MEE Massey Energy Co. 281........... PCX Patriot Coal Corp.
227............ CELG Celgene Corp. 282........... SPWRA SunPower Corp.
229............ GMCR Green Mountain Coffee 284........... LCC US Airways Group
Roasters Inc. Inc.
231............ WDC Western Digital Corp. 285........... PRU Prudential
Financial Inc.
234............ DAL Delta Air Lines Inc. 286........... LEN Lennar Corp.
235............ FXE CurrencyShares Euro 287........... EWT iShares MSCI Taiwan
Trust. Index Fund.
237............ COST Costco Wholesale 288........... KBH KB Home.
Corp.
239............ MJN Mead Johnson 289........... CREE Cree Inc.
Nutrition Co.
240............ ALL Allstate Corp/The. 290........... SIRI Sirius XM Radio
Inc.
241............ SII Smith International 291........... MMR McMoRan Exploration
Inc. Co.
242............ RTN Raytheon Co. 292........... CENX Century Aluminum
Co.
243............ DVN Devon Energy Corp. 293........... GFI Gold Fields Ltd.
244............ MT ArcelorMittal.
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(b) Basis--The basis under the Securities Exchange Act of 1934
(the ``Exchange Act'') for this proposed rule change is found in
Section 6(b)(5), in that the proposed rule change 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. In particular, the proposed rule change identifies the
options classes to be added to the Penny Pilot in a manner consistent
with prior approvals and filings.
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not 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
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.
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) \5\ of the Exchange Act and Rule 19b-4(f)(1) \6\
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.
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\5\ 15 U.S.C. 78s(b)(3)(A)(i).
\6\ 17 CFR 240.19b-4(f)(1).
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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 [email protected]. Please include
File No. SR-ISE-2010-42 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-ISE-2010-42. 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 Commissions 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 Web site viewing and copying in
the Commission's Public Reference Room. Copies of such filing also will
be available for inspection and copying at the principal office of the
ISE. 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-ISE-
2010-42 and should be submitted by June 1, 2010.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
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\7\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-11135 Filed 5-10-10; 8:45 am]
BILLING CODE 8010-01-P