[Federal Register Volume 75, Number 153 (Tuesday, August 10, 2010)]
[Notices]
[Pages 48385-48387]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-19603]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-62625; File No. SR-NYSEArca-2010-70]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Adding 75 Options
Classes to the Penny Pilot Program
August 2, 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 20, 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\ 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 August 2, 2010. The text of the proposed rule change is attached as
Exhibit 5 to the 19b-4 form.\3\ 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.
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\3\ The Commission notes that there are no changes to the rule
text and no exhibit 5 was attached to the form 19b-4.
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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 August 2, 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 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 August 2, 2010, based on national average daily volume
from January 1, 2010 through June 30, 2010:
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Nat'l
Nat'l ranking Symbol Security name 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/ 322 HSY................ Hershey Co/The.
United States.
226.............................. YUM................ Yum! Brands Inc......... 323 TXT................ Textron Inc.
232.............................. RCL................ Royal Caribbean Cruises 324 GGP................ General Growth Properties Inc.
Ltd.
[[Page 48386]]
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.
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 Information
Investable Market Index 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 340 APWR............... A-Power Energy Generation Systems
Inc/OH. 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 349 PHM................ Pulte Group Inc.
Banking 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. 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 the 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 [email protected]. Please include
File Number SR-NYSEArca-2010-70 on the subject line.
[[Page 48387]]
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-2010-70. 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 viewing
and 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 NYSE Arca's principal office and on its Web
site at http://www.nyse.com. 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 No. SR-NYSEArca-2010-70 and should be submitted on or before
August 31, 2010.
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\8\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-19603 Filed 8-9-10; 8:45 am]
BILLING CODE 8010-01-P