75 FR 60 pgs. 15757-15758 - Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to U.S. Dollar-Settled Foreign Currency Options
Type: NOTICEVolume: 75Number: 60Pages: 15757 - 15758
Docket number: [Release No. 34-61764; File No. SR-Phlx-2010-46]
FR document: [FR Doc. 2010-6994 Filed 3-29-10; 8:45 am]
Agency: Securities and Exchange Commission
Official PDF Version: PDF Version
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-61764; File No. SR-Phlx-2010-46]
Self-Regulatory Organizations; NASDAQ OMX PHLX, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to U.S. Dollar-Settled Foreign Currency Options
March 23, 2010.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the "Act"),1and Rule 19b-4 thereunder,2notice is hereby given that on March 18, 2010, NASDAQ OMX PHLX, Inc. ("Phlx" or "Exchange") filed with the Securities and Exchange Commission ("Commission") the proposed rule change, as described in Items I, II, and III below, which Items have been prepared by the Exchange. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
Footnotes:
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b-4.
I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change
The Exchange proposes to amend the Fee Schedule to add the Norwegian Krone ("XDV") to the U.S. Dollar-Settled Foreign Currency Options fees.3While changes to the Fee Schedule pursuant to this proposal are effective upon filing, the Exchange has designated this proposal to be operative on March 22, 2010.
Footnotes:
3 FCOs are currently traded on the Exchange under the name PHLX World Currency Options® ("WCOs").
The text of the proposed rule change is available on the Exchange's Web site at http://nasdaqtrader.com/micro.aspx?id=PHLXfilings, on the Commission's Web site at http://www.sec.gov, 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 Exchange 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 Exchange 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
The purpose of the proposed rule change is to amend the Fee Schedule to add XDV to the list of securities currently subject to the U.S. Dollar-Settled Foreign Currency Options fees. The Exchange proposes to add this currency to increase its offering of products.
Currently, the following U.S. Dollar-Settled Foreign Currency Options are subject to the U.S. Dollar-Settled Foreign Currency Options fees: XDB (British Pound), XDE (Euro), XDN (Japanese Yen), XDS (Swiss Franc), XDA (Australian Dollar), XDM (Mexican Peso), XEH (Swedish Krona), XEV (South African Rand), XDZ (New Zealand Dollar) and XDC (Canadian Dollar).
The Exchange filed a proposed rule change to amend its rules to enable it to list and trade options on the Norwegian Krone.4
Footnotes:
4 See Securities and Exchange Release Act No. 60169 (July 2, 2009), 74 FR 31782 (June 24, 2009) (SR-Phlx-2009-40). [sic]
While changes to the Fee Schedule pursuant to this proposal are effective upon filing, the Exchange has designated this proposal to be operative on March 22, 2010.
2. Statutory Basis
The Exchange believes that its proposal to amend its schedule of fees is consistent with Section 6(b) of the Act5in general, and furthers the objectives of Section 6(b)(4) of the Act6in particular, in that it is an equitable allocation of reasonable fees and other charges among Exchange members. The fees assessed for XDV are the same fees assessed on members and member organizations for other U.S. Dollar-Settled Foreign Currency Options.
Footnotes:
5 15 U.S.C. 78f(b).
6 15 U.S.C. 78f(b)(4).
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 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 either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action
The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act7and paragraph (f)(2) of Rule 19b-48thereunder. 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.
Footnotes:
7 15 U.S.C. 78s(b)(3)(A)(ii).
8 17 CFR 240.19b-4(f)(2).
IV. Solicitation of Comments
Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposal 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 No. SR-Phlx-2010-46 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 No. SR-Phlx-2010-46. 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 changes 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 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 Exchange. 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-Phlx-2010-46 and should be submitted on or before April 20, 2010.
Footnotes:
9 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. 2010-6994 Filed 3-29-10; 8:45 am]
BILLING CODE 8011-01-P