[Federal Register Volume 75, Number 149 (Wednesday, August 4, 2010)]
[Notices]
[Pages 47054-47056]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-19220]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62594; File No. SR-ISE-2010-79]
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
July 29, 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 July 23, 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 and II
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 theTerms 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 August 2, 2010. The text of the proposed rule
change is available on the Exchange's Web site (http://www.ise.com), at
the principal office of the Exchange, 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 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
1. Purpose
ISE proposes to identify the next 75 options classes to be added to
the Penny Pilot effective August 2, 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 August 2, 2010, based on national average daily volume from
January 1, 2010 through June 30, 2010:
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Nat'l ranking Symbol Security name Nat'l ranking Symbol Security name
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199............................... MBI................. MBIA Inc................. 316................. CB Chubb Corp
205............................... MA.................. Mastercard Inc........... 320................. ADM Archer-Daniels-Midland Co
224............................... ATPG................ ATP Oil & Gas Corp/United 322................. HSY Hershey Co/The
States.
226............................... YUM................. Yum! Brands Inc.......... 323................. TXT Textron Inc
232............................... RCL................. Royal Caribbean Cruises 324................. GGP General Growth Properties
Ltd. Inc
238............................... BPOP................ Popular Inc.............. 325................. NOV National Oilwell Varco
Inc
248............................... EK.................. Eastman Kodak Co......... 326................. TWX Time Warner Inc
252............................... CNX................. Consol Energy Inc........ 327................. XOP SPDR S&P Oil & Gas
Exploration & Production
ETF
260............................... DCTH................ Delcath Systems Inc...... 328................. MYL Mylan Inc/PA
274............................... MTG................. MGIC Investment Corp..... 329................. TSO Tesoro Corp
277............................... PXP................. Plains Exploration & 330................. CI CIGNA Corp
Production Co.
[[Page 47055]]
278............................... GPS................. Gap Inc/The.............. 331................. ESI ITT Educational Services
Inc
280............................... TSL................. Trina Solar Ltd.......... 332................. NKE NIKE Inc
282............................... EWW................. iShares MSCI Mexico 335................. FIS Fidelity National
Investable Market Index Information Services Inc
Fund.
283............................... CRM................. Salesforce.com Inc....... 336................. SUN Sunoco Inc
286............................... SWN................. Southwestern Energy Co... 338................. BBBY Bed Bath & Beyond Inc
287............................... HBAN................ Huntington Bancshares Inc/ 340................. APWR A-Power Energy Generation
OH. Systems Ltd
288............................... EOG................. EOG Resources Inc........ 341................. FWLT Foster Wheeler AG
290............................... APA................. Apache Corp.............. 342................. LNC Lincoln National Corp
291............................... VVUS................ Vivus Inc................ 343................. RSH RadioShack Corp
292............................... JDSU................ JDS Uniphase Corp........ 344................. TYC Tyco International Ltd
293............................... ACI................. Arch Coal Inc............ 345................. CL Colgate-Palmolive Co
294............................... NE.................. Noble Corp............... 346................. FXP ProShares UltraShort FTSE/
Xinhua China 25
296............................... BAX................. Baxter International Inc. 347................. NTAP NetApp Inc
297............................... ADSK................ Autodesk Inc............. 348................. SO Southern Co
299............................... KRE................. SPDR KBW Regional Banking 349................. PHM Pulte Group Inc
ETF.
300............................... XL.................. XL Group Plc............. 350................. HOT Starwood Hotels & Resorts
Worldwide Inc
302............................... WLT................. Walter Energy Inc........ 351................. QLD ProShares Ultra QQQ
303............................... IBN................. ICICI Bank Ltd........... 352................. VRSN VeriSign Inc
305............................... EWY................. iShares MSCI South Korea 353................. PCL Plum Creek Timber Co Inc
Index Fund.
306............................... WHR................. Whirlpool Corp........... 354................. NBR Nabors Industries Ltd
307............................... BHI................. Baker Hughes Inc......... 355................. ESRX Express Scripts Inc
308............................... KMP................. Kinder Morgan Energy 356................. ACAS American Capital Ltd
Partners LP.
309............................... MRO................. Marathon Oil Corp........ 357................. XLNX Xilinx Inc
310............................... AGO................. Assured Guaranty Ltd..... 358................. DO Diamond Offshore Drilling
Inc
311............................... GIS................. General Mills Inc........ 359................. CMA Comerica Inc
312............................... ANR................. Alpha Natural Resources 360................. KEY KeyCorp
Inc.
314............................... GENZ................ Genzyme Corp............. .................... .................. .........................
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2. 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 the 60-day period beginning on the date of the
filing of the proposed rule change, the Commission summarily may
temporarily suspend 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 Number SR-ISE-2010-79 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-2010-79. 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 Web site viewing and
[[Page 47056]]
printing 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 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-2010-79 and should be
submitted on or before August 25, 2010.
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\7\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-19220 Filed 8-3-10; 8:45 am]
BILLING CODE 8010-01-P