[Federal Register Volume 80, Number 123 (Friday, June 26, 2015)]
[Notices]
[Pages 36807-36808]
[FR Doc No: 2015-15674]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-RCRA-2015-0108; FRL-9928-06-OEI]

Information Collection Request Submitted to OMB for Review and
Approval; Comment Request; RCRA Expanded Public Participation (Renewal)

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: The Environmental Protection Agency has submitted an
information collection request (ICR), ``RCRA Expanded Public
Participation (Renewal)'' (EPA ICR No. 1688.08, OMB Control No. 2050-
0149) to the Office of Management and Budget (OMB) for review and
approval in accordance with the Paperwork Reduction Act (44 U.S.C. 3501
et seq.). This is a proposed extension of the ICR, which is currently
approved through June 30, 2015. Public comments were previously
requested via the Federal Register (80 FR 13375) on March 13, 2015
during a 60-day comment period. This notice allows for an additional 30
days for public comments. A fuller description of the ICR is given
below, including its estimated burden and cost to the public. An Agency
may not conduct or sponsor and a person is not required to respond to a
collection of information unless it displays a currently valid OMB
control number.

DATES: Additional comments may be submitted on or before July 27, 2015.

ADDRESSES: Submit your comments, referencing Docket ID Number EPA-HQ-
RCRA-2015-0108, to (1) EPA

online using www.regulations.gov (our preferred method), by email to
<EMAIL_ADDRESS>or by mail to: EPA Docket Center, Environmental
Protection Agency, Mail Code 28221T, 1200 Pennsylvania Ave. NW.,
Washington, DC 20460, and (2) OMB via email to
<EMAIL_ADDRESS>Address comments to OMB Desk Officer for
EPA.
    EPA's policy is that all comments received will be included in the
public docket without change including any personal information
provided, unless the comment includes profanity, threats, information
claimed to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute.

FOR FURTHER INFORMATION CONTACT: Michael Pease, Office of Solid Waste
and Emergency Response, Mail Code 5303P, Environmental Protection
Agency, 1200 Pennsylvania Ave. NW., Washington, DC 20460; telephone
number:<PHONE_NUMBER>; fax number:<PHONE_NUMBER>; email address:
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Supporting documents which explain in detail
the information that the EPA will be collecting are available in the
public docket for this ICR. The docket can be viewed online at
www.regulations.gov or in person at the EPA Docket Center, WJC West,
Room 3334, 1301 Constitution Ave. NW., Washington, DC. The telephone
number for the Docket Center is<PHONE_NUMBER>. For additional
information about EPA's public docket, visit http://www.epa.gov/dockets.
    Abstract: Section 7004(b) of the Resource Conservation and Recovery
Act (RCRA) gives EPA broad authority to provide for, encourage and
assist public participation in the development, revision,
implementation and enforcement of any regulation, guideline,
information or program under RCRA. In addition, the statute specifies
certain public notices (i.e., radio, newspaper, and a letter to
relevant agencies) that EPA must provide before issuing any RCRA
permit. The statute also establishes a process by which the public can
dispute a permit and request a public hearing to discuss it. EPA
carries out much of its RCRA public involvement at 40 CFR 124 and 40
CFR 270.
    Form Numbers: None.
    Respondents/affected entities: Private facilities.
    Respondent's obligation to respond: Mandatory (RCRA 7004(b)).
    Estimated number of respondents: 59.
    Frequency of response: On occasion.
    Total estimated burden: 5,614 hours (per year). Burden is defined
at 5 CFR 1320.03(b).
    Total estimated cost: $369,547 (per year), includes $5,681
annualized capital or operation & maintenance costs.
    Changes in the Estimates: There is increase of 2,609 hours in the
total estimated respondent burden compared with the ICR currently
approved by OMB. This increase is due to the adjustment in the
respondent universe from 33 to 59.

Courtney Kerwin,
Acting Director, Collection Strategies Division.
[FR Doc. 2015-15674 Filed 6-25-15; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register: April 7, 2010 (Volume 75, Number 66)]
[Notices]
[Page 17713-17715]
[DOCID:fr07ap10-51]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2010-0178; FRL-8818-3]

Spirotetramat; Receipt of Applications for Emergency Exemptions;
Solicitation of Public Comment

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: EPA has received specific exemption requests from the States
of Ohio, New Mexico, and Wisconsin to use the pesticide spirotetramat
(CAS No. 203313-25-1) to treat onion, dry bulb to control thrips. The
applicants are proposing the use of a chemical whose registration was
recently vacated. EPA is soliciting public comment before making the
decision whether or not to grant the exemptions.

DATES:  Comments must be received on or before April 22, 2010.

ADDRESSES: Submit your comments, identified by docket identification
(ID) number EPA-HQ-OPP-2010-0178 by one of the following methods:
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the on-line instructions for submitting comments.
     Mail: Office of Pesticide Programs (OPP) Regulatory Public
Docket (7502P), Environmental Protection Agency, 1200 Pennsylvania
Ave., NW., Washington, DC 20460-0001.
     Delivery: OPP Regulatory Public Docket (7502P),
Environmental Protection Agency, Rm. S-4400, One Potomac Yard (South
Bldg.), 2777 S. Crystal Dr., Arlington, VA. Deliveries are only
accepted during the Docket Facility's normal hours of operation (8:30
a.m. to 4 p.m., Monday through Friday, excluding legal holidays).
Special arrangements should be made for deliveries of boxed
information. The

Docket Facility telephone number is<PHONE_NUMBER>.
     Instructions: Direct your comments to docket ID number EPA-HQ-OPP-
2010-0178. EPA's policy is that all comments received will be included
in the docket without change and may be made available on-line at
http://www.regulations.gov, including any personal information
provided, unless the comment includes information claimed to be
Confidential Business Information (CBI) or other information whose
disclosure is restricted by statute. Do not submit information that you
consider to be CBI or otherwise protected through regulations.gov or e-
mail. The regulations.gov website is an ``anonymous access'' system,
which means EPA will not know your identity or contact information
unless you provide it in the body of your comment. If you send an e-
mail comment directly to EPA without going through regulations.gov,
your e-mail address will be automatically captured and included as part
of the comment that is placed in the docket and made available on the
Internet. If you submit an electronic comment, EPA recommends that you
include your name and other contact information in the body of your
comment and with any disk or CD-ROM you submit. If EPA cannot read your
comment due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider your comment. Electronic
files should avoid the use of special characters, any form of
encryption, and be free of any defects or viruses.
    Docket: All documents in the docket are listed in the docket index
available at http://www.regulations.gov. Although listed in the index,
some information is not publicly available, e.g., CBI or other
information whose disclosure is restricted by statute. Certain other
material, such as copyrighted material, is not placed on the Internet
and will be publicly available only in hard copy form. Publicly
available docket materials are available either in the electronic
docket at http://www.regulations.gov, or, if only available in hard
copy, at the OPP Regulatory Public Docket in Rm. S-4400, One Potomac
Yard (South Bldg.), 2777 S. Crystal Dr., Arlington, VA. The hours of
operation of this Docket Facility are from 8:30 a.m. to 4 p.m., Monday
through Friday, excluding legal holidays. The Docket Facility telephone
number is<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT:  Keri Grinstead, Registration Division
(7505P), Office of Pesticide Programs, Environmental Protection Agency,
1200 Pennsylvania Ave., NW., Washington, DC 20460-0001; telephone
number:<PHONE_NUMBER>; fax number:<PHONE_NUMBER>; e-mail
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this Action Apply to Me?

    You may be potentially affected by this action if you are an
agricultural producer, food manufacturer, or pesticide manufacturer.
Potentially affected entities may include, but are not limited to:
     Crop production (NAICS code 111).
     Animal production (NAICS code 112).
     Food manufacturing (NAICS code 311).
     Pesticide manufacturing (NAICS code 32532).
    This listing is not intended to be exhaustive, but rather provides
a guide for readers regarding entities likely to be affected by this
action. Other types of entities not listed in this unit could also be
affected. The North American Industrial Classification System (NAICS)
codes have been provided to assist you and others in determining
whether this action might apply to certain entities. If you have any
questions regarding the applicability of this action to a particular
entity, consult the person listed under FOR FURTHER INFORMATION
CONTACT.

B. What Should I Consider as I Prepare My Comments for EPA?

    1. Submitting CBI. Do not submit this information to EPA through
www.regulations.gov or e-mail. Clearly mark the part or all of the
information that you claim to be CBI. For CBI information in a disk or
CD-ROM that you mail to EPA, mark the outside of the disk or CD-ROM as
CBI and then identify electronically within the disk or CD-ROM the
specific information that is claimed as CBI. In addition to one
complete version of the comment that includes information claimed as
CBI, a copy of the comment that does not contain the information
claimed as CBI must be submitted for inclusion in the public docket.
Information so marked will not be disclosed except in accordance with
procedures set forth in 40 CFR part 2.
    2. Tips for preparing your comments. When submitting comments,
remember to:
    i. Identify the document by docket ID number and other identifying
information (subject heading, Federal Register date and page number).
    ii. Follow directions. The Agency may ask you to respond to
specific questions or organize comments by referencing a Code of
Federal Regulations (CFR) part or section number.
    iii. Explain why you agree or disagree; suggest alternatives and
substitute language for your requested changes.
    iv. Describe any assumptions and provide any technical information
and/or data that you used.
    v. If you estimate potential costs or burdens, explain how you
arrived at your estimate in sufficient detail to allow for it to be
reproduced.
    vi. Provide specific examples to illustrate your concerns and
suggest alternatives.
    vii. Explain your views as clearly as possible, avoiding the use of
profanity or personal threats.
    viii. Make sure to submit your comments by the comment period
deadline identified.
    3. Environmental justice. EPA seeks to achieve environmental
justice, the fair treatment and meaningful involvement of any group,
including minority and/or low income populations, in the development,
implementation, and enforcement of environmental laws, regulations, and
policies. To help address potential environmental justice issues, the
Agency seeks information on any groups or segments of the population
who, as a result of their location, cultural practices, or other
factors, may have atypical or disproportionately high and adverse human
health impacts or environmental effects from exposure to the
pesticide(s) discussed in this document, compared to the general
population.

II. What Action is the Agency Taking?

    Under section 18 of the Federal Insecticide, Fungicide, and
Rodenticide Act (FIFRA) (7 U.S.C. 136p), at the discretion of the
Administrator, a Federal or State agency may be exempted from any
provision of FIFRA if the Administrator determines that emergency
conditions exist which require the exemption. Ohio, New Mexico and
Wisconsin have requested that the Administrator issue specific
exemptions for the use of spirotetramat (CAS No. 203313-25-1) on onion,
dry bulb, to control thrips. Information in accordance with 40 CFR part
166 was submitted as part of these requests, and is available for
review at www.regulations.gov under Docket ID Number 2010-0178.
    In 2009, all of the applicants submitted first-time exemption
requests for the use of spirotetramat on dry bulb onions to control
thrips. Based on the information provided in those 2009

applications, the Agency concurred with the applicants that
spirotetramat was necessary to ensure thrips control in areas
experiencing thrips resistance to available alternatives and, in
particular, where 6 to 8 seasonal applications of alternative
pesticides are required to achieve adequate control. Thrips are sucking
insects and growers are concerned about managing them because their
feeding behavior directly damages the crop and also vectors a plant
disease known as Iris Yellow Spot Virus. At this time, managing the
disease vector thrips is the growers' main strategy for controlling
Iris Yellow Spot Virus. The Agency has confirmed this as an urgent,
non-routine situation with potential for significant economic losses
requiring the use of spirotetramat. As part of their 2010
recertification requests, the applicants assert that the emergency
conditions described in their 2009 applications continue to exist. EPA
will review the applications and other available data. The 2009 and
2010 application packages for each state are available for review at
www.regulations.gov under Docket ID Number 2010-0178. Summary use
information for each state is listed below:
    1. Ohio. The Ohio Department of Agriculture proposes to make no
more than two applications of Movento (which contains 22.4%
spirotetramat) on a maximum of 400 acres of onion, dry bulb between
July 1 and September 15, 2010 in Ohio.
    2. New Mexico. The New Mexico Department of Agriculture proposes to
make no more than two applications of Movento on a maximum of 6,000
acres of onion, dry bulb between May and October, 2010 in the New
Mexico counties of Chaves, Curry, Dona Ana, Eddy, Hidalgo, Lea, Luna,
Farmington, Roosevelt, and Sierra.
    3. Wisconsin. The Wisconsin Department of Agriculture, Trade and
Consumer Protection proposes to make no more than two applications of
Movento on a maximum of 2,200 acres of onion, dry bulb between June 1
and September 15, 2010 in the Wisconsin counties of Columbia, Dodge,
Green Lake, Jefferson, Kenosha, Marquette, Portage, Racine, Rock,
Walworth, Waukasha, Waupaca, and Waushara.
     This notice does not constitute a decision by EPA on the
applications themselves, but provides an opportunity for public comment
on the applications. EPA has determined that publication of a notice of
receipt of these applications for specific exemptions is appropriate
taking into consideration the December 23, 2009 decision of the U.S.
District Court for the Southern District of New York vacating the
registration of the spirotetramat product that is the subject of these
emergency exemption requests. This vacatur is available for review at
www.regulations.gov under Docket ID Number 2010-0178.
     The Agency will review and consider all comments received during
the comment period in determining whether to issue the specific
exemptions requested by the states of Ohio, New Mexico, and Wisconsin.

List of Subjects

    Environmental protection, Pesticides and pests.

    Dated: March 25, 2010.
 Lois Rossi,
Director, Registration Division, Office of Pesticide Programs.
[FR Doc. 2010-7620 Filed 4-6-10; 8:45 a.m.]
BILLING CODE 6560-50-S


[Federal Register Volume 77, Number 247 (Wednesday, December 26, 2012)]
[Notices]
[Pages 76132-76135]
[FR Doc No: 2012-31017]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68478; File No. SR-BOX-2012-023]

Self-Regulatory Organizations; BOX Options Exchange LLC; Notice
of Filing and Immediate Effectiveness of Proposed Rule Change To
Increase the Position and Exercise Limits for Options on the iShares
MSCI Emerging Markets Index Fund to 500,000 Contracts

December 19, 2012.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 12, 2012, BOX Options Exchange LLC (``BOX'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II 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.
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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 amend Interpretive Material to Rule 3120
(Position Limits) to increase the position and exercise limits for
options on the iShares MSCI Emerging Markets Index Fund (``EEM'') to
500,000 contracts. The text of the proposed rule change is available
from the principal office of the Exchange, at the Commission's Public

Reference Room and also on the Exchange's Internet Web site at http://boxexchange.com.

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
    Position limits for exchange-traded fund (``ETFs'') options, such
as EEM options, are determined pursuant to Rule 3120 (Position Limits)
and vary according to the number of outstanding shares and trading
volume during the most recent six-month trading period of an underlying
stock or ETF. The largest in capitalization and most frequently traded
stocks and ETFs have an option position limit of 250,000 contracts
(with adjustments for splits, re-capitalizations, etc.) on the same
side of the market; smaller capitalization stocks and ETFs have
position limits of 200,000, 75,000, 50,000 or 25,000 contracts (with
adjustments for splits, re-capitalizations, etc.) on the same side of
the market. The current position limit for EEM options is 250,000
contracts. The purpose of the proposed rule change is to amend
Interpretative Material (IM-3120-2) to Rule 3120 to increase the
position and exercise limits for EEM options to 500,000 contracts.\3\
There is precedent for establishing position limits for options on
actively-traded ETFs and these position limit levels are set forth in
IM-3120-2.\4\
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    \3\ By virtue of IM-3140-1 to Rule 3140, which is not being
amended by this filing, the exercise limit for EEM options would be
similarly increased. See IM-3140-1 to Rule 3140 (Exercise Limits).
    \4\ IM-3120-2 lists exceptions to standard position limits which
are, for put or call option contracts overlying the following
securities: 300,000 contracts for the DIAMONDS Trust (DIA); 500,000
contracts for the iShares Russell 2000 Index Fund (IWM); 900,000
contracts for the PowerShares QQQ Trust (QQQQ); and no limit for the
Standard and Poor's Depository Receipts Trust (SPY).
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    In support of this proposed rule change, and as noted by the
Chicago Board Options Exchange, Incorporated (``CBOE'') in a related
filing,\5\ the below trading statistics compare EEM to IWM and SPY. As
shown in the table, the average daily volume in 2011 for EEM was 65
million shares compared to 64.1 million shares for IWM and 213 million
shares for SPY. The total shares outstanding for EEM was 922.9 million
compared to 192.6 million shares for IWM and 716.1 million shares for
SPY. Further, the fund market cap for EEM was $41.1 billion compared to
$15.5 billion for IWM and $98.3 billion for SPY.
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    \5\ See Securities Exchange Act Release No. 68086 (October 23,
2012), 77 FR 65600 (October 29, 2012) (SR-CBOE-2012-066).

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                                                                                2011 ADV (option        Shares outstanding
                         ETF                           2011 ADV (mil. shares)         contracts)                 (Mil.)           Fund market cap ($bil)
--------------------------------------------------------------------------------------------------------------------------------------------------------
EEM.................................................                       65                  280,000                    922.9                     41.1
IWM.................................................                     64.1                  662,500                    192.6                     15.5
SPY.................................................                      213                2,892,000                    716.1                     98.3
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    In further support of this proposal, the Exchange represents that
EEM still qualifies for the initial listing criteria set forth in Rule
5020(h) for ETFs holding non-U.S. component securities.\6\ EEM tracks
the performance of the MSCI Emerging Markets Index, which has
approximately 800 component securities.\7\ ``The MSCI Emerging Markets
Index is a free float-adjusted market capitalization index that is
designed to measure equity market performance of emerging markets. The
MSCI Emerging Markets Index consists of the following 21 emerging
market country indices: Brazil, Chile, China, Colombia, Czech Republic,
Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco,
Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, and
Turkey.'' \8\ The Exchange represents that more than 50% of the weight
of the securities held by EEM are now subject to a comprehensive
surveillance agreement (``CSA'').\9\ Additionally, the component
securities of the MSCI Emerging Markets Index on which EEM is based for
which the primary market is in any one country that is not subject to a
CSA do not represent 20% or more of the weight of the MSCI Emerging
Markets Index.\10\ Finally, the component securities of the MSCI
Emerging Markets Index on which EEM is based for which the primary
market is in any two countries that are not subject to CSAs do not
represent 33% or more of the weight of the MSCI Emerging Markets
Index.\11\
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    \6\ The Exchange notes that the initial listing criteria for
options on ETFs that hold non-U.S. component securities are more
stringent than the maintenance listing criteria for those same ETF
options. See Rule 5020(h) and Rule 5030(h).
    \7\ See http://us.ishares.com/product_info/fund/overview/EEM.htm and http://www.msci.com/products/indices/licensing/msci_emerging_markets/. Identification of the specific securities in the
EEM and their individual concentrations in the EEM can be accessed
at: http://us.ishares.com/product_info/fund/holdings/EEM.htm.
    \8\ See http://www.msci.com/products/indices/tools/index.html#EM.
    \9\ See Rule 5020(h)(2)(A).
    \10\ See Rule 5020(h)(2)(B).
    \11\ See Rule 5020(h)(2)(C).
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    The Exchange believes that the liquidity in the underlying ETF and
the liquidity in EEM options support its request to increase the
position and exercise limits for EEM options. As to the underlying ETF,
through October 17, 2012 the year-to-date average daily trading volume
for EEM across all exchanges was 49.3 million shares. As to EEM
options, the year-to-date average daily trading volume for EEM options
across all exchanges was approximately 250,000 contracts. The Exchange
believes that increasing position limits for EEM options will lead to a
more liquid and competitive market environment for EEM options that
will benefit customers interested in this product. Under the Exchange's
proposal, the options reporting requirement for EEM would continue
unabated. Thus, the Exchange would still require that each Options
Participant and associated person of an Options Participant that
maintain a position in EEM options on the same side of the market, for
its own account or for the account of a customer, report certain
information to the Exchange.

This information would include, but would not be limited to, the option
position, whether such position is hedged and, if so, a description of
the hedge, and the collateral used to carry the position, if
applicable. In addition, the general reporting requirement for customer
accounts that maintain an aggregate position of 200 or more option
contracts would remain at this level for EEM options.\12\
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    \12\ Reporting requirements are stated in Rule 3150 (Reports
Related to Position Limits).
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    As the anniversary of listed options trading approaches its
fortieth year, the Exchange believes that the existing surveillance
procedures and reporting requirements at BOX Options Exchange LLC,
other options exchanges, and at the several clearing firms are capable
of properly identifying unusual and/or illegal trading activity. In
addition, routine oversight inspections of the Exchange's regulatory
programs by the Commission have not uncovered any material
inconsistencies or shortcomings in the manner in which the Exchange's
market surveillance is conducted. These procedures utilize daily
monitoring of market movements via automated surveillance techniques to
identify unusual activity in both options and underlying stocks.\13\
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    \13\ These procedures have been effective for the surveillance
of EEM options trading and will continue to be employed.
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    Furthermore, large stock holdings must be disclosed to the
Commission by way of Schedules 13D or 13G.\14\ Options positions are
part of any reportable positions and, thus, cannot be legally hidden.
Moreover, the Exchange's requirement that Options Participants are to
file reports with the Exchange for any customer who held aggregate
large long or short positions of any single class for the previous day
will continue to serve as an important part of the Exchange's
surveillance efforts.
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    \14\ 17 CFR 240.13d-1.
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    The Exchange believes that the current financial requirements
imposed by the Exchange and by the Commission adequately address
concerns that an Options Participant or associated person of an Options
Participants or its customer may try to maintain an inordinately large
un-hedged position in an option, particularly on EEM. Current margin
and risk-based haircut methodologies serve to limit the size of
positions maintained by any one account by increasing the margin and/or
capital that a Participant must maintain for a large position held by
itself or by its customer.\15\ In addition, the Commission's net
capital rule, Rule 15c3-1\16\ under the Act imposes a capital charge on
Participants to the extent of any margin deficiency resulting from the
higher margin requirement, which should serve as an additional form of
protection.
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    \15\ See Rule 10120 (Margin Requirements) for a description of
margin requirements.
    \16\ 17 CFR 240.15c3-1.
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2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with
the Act and the rules and regulations thereunder, including the
requirements of Section 6(b) of the Act.\17\ In particular, the
Exchange believes the proposed rule change is consistent with the
Section 6(b)(5)\18\ requirements that the rules of an exchange be
designed to promote just and equitable principles of trade, to prevent
fraudulent and manipulative acts, to foster cooperation and
coordination with persons engaged in facilitating transactions in
securities, to remove impediments to and to perfect the mechanism for a
free and open market and a national market system, and, in general, to
protect investors and the public interest.
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    \17\ 15 U.S.C. 78f(b).
    \18\ 15 U.S.C. 78f(b)(5).
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    Specifically, the proposed rule change will benefit large market
makers (which generally have the greatest potential and actual ability
to provide liquidity and depth in the product), as well as retail
traders, investors, and public customers, by providing them with a more
effective trading and hedging vehicle. In addition, the Exchange
believes that the structure of EEM options and the considerable
liquidity of the market for EEM options diminish the opportunity to
manipulate this product and disrupt the underlying market that a lower
position limit may protect against.

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

    The Exchange has neither solicited nor received comments on the
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act\19\ and Rule 19b-4(f)(6) thereunder.\20\
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    \19\ 15 U.S.C. 78s(b)(3)(A).
    \20\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to provide the Commission
with written notice of its intent to file the proposed rule change,
along with a brief description and text of the proposed rule change,
at least five business days prior to the date of filing of the
proposed rule change, or such shorter time as designated by the
Commission. The Exchange has fulfilled this requirement.
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    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing. However,
Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest. The Exchange requests that the Commission waive
the 30-day operative delay so that it can increase the position and
exercise limits for EEM options immediately, which will result in
consistency and uniformity among the competing options exchanges as to
the position and exercise limits for EEM options. The Commission
believes that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest.\21\ The Commission
notes the proposal is substantively identical to a proposal that was
recently approved by the Commission, and does not raise any new
regulatory issues.\22\ For these reasons, the Commission designates the
proposed rule change as operative upon filing.
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    \21\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \22\ See Securities Exchange Act Release No. 68086 (October 23,
2012), 77 FR 65600 (October 29, 2012) (SR-CBOE-2012-066).
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    At any time within 60 days 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 email to<EMAIL_ADDRESS>Please include
File Number SR-BOX-2012-023 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-BOX-2012-023. This
file number should be included on the subject line if email 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
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the 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 Number SR-BOX-2012-023 and should be
submitted on or before January 16, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\23\
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    \23\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-31017 Filed 12-21-12; 4:15 pm]
BILLING CODE 8011-01-P


[Federal Register Volume 77, Number 180 (Monday, September 17, 2012)]
[Notices]
[Pages 57094-57095]
[FR Doc No: 2012-22784]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2012-D-0881]

Draft Guidance for Industry on Self-Identification of Generic
Drug Facilities, Sites, and Organizations; Availability; Correction

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice; correction.

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SUMMARY: The Food and Drug Administration (FDA) is correcting a notice
that appeared in the Federal Register of Monday, August 27, 2012 (77 FR
51811). The document announced a draft guidance for industry entitled
``Self-Identification of Generic Drug Facilities, Sites, and
Organizations.'' The document was published with an incorrect docket

number. This document corrects that error.

FOR FURTHER INFORMATION CONTACT: Joyce Strong, Office of Policy, Food
and Drug Administration, 10903 New Hampshire Ave. Bldg. 32, Rm. 3208,
Silver Spring, MD 20993-0002,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: In FR Doc. 2012-20946, appearing on page
51811 in the Federal Register of Monday, August 27, 2012, the following
correction is made:
    1. On page 51811, in the third column, the docket number is
corrected to read ``FDA-2012-D-0881''.

    Dated: August 30, 2012.
Leslie Kux,
Assistant Commissioner for Policy.
[FR Doc. 2012-22784 Filed 9-14-12; 8:45 am]
BILLING CODE 4160-01-P


[Federal Register Volume 81, Number 64 (Monday, April 4, 2016)]
[Rules and Regulations]
[Pages 19022-19024]
[FR Doc No: 2016-07377]

=======================================================================
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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 39

[Docket No. FAA-2015-4023; Directorate Identifier 2015-NE-29-AD;
Amendment 39-18445; AD 2016-06-14]
RIN 2120-AA64

Airworthiness Directives; General Electric Company Turbofan
Engines

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: We are adopting a new airworthiness directive (AD) for all
General Electric Company (GE) CF6-80E1 turbofan engines with rotating
compressor discharge pressure (CDP) seal, part number (P/N) 1669M73P02,
installed. This AD was prompted by reports from the manufacturer of
cracks in the teeth of two rotating CDP seals found during engine shop
visits. This AD requires stripping of the coating, inspecting, and
recoating the teeth of the affected rotating CDP seals. We are issuing
this AD to prevent cracking of the CDP seal teeth, uncontained part
release, damage to the engine, and damage to the airplane.

DATES: This AD is effective May 9, 2016.
    The Director of the Federal Register approved the incorporation by
reference of a certain publication listed in this AD as of May 9, 2016.

ADDRESSES: For service information identified in this final rule,
contact General Electric Company, GE Aviation, Room 285, 1 Neumann Way,
Cincinnati, OH 45215; phone:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>You may view this service information at
the FAA, Engine & Propeller Directorate, 1200 District Avenue,
Burlington, MA. For information on the availability of this material at
the FAA, call<PHONE_NUMBER>. It is also available on the Internet at
http://www.regulations.gov by searching for and locating Docket No.
FAA-2015-4023.

Examining the AD Docket

    You may examine the AD docket on the Internet at http://www.regulations.gov by searching for and locating Docket No. FAA-2015-
4023; or in person at the Docket Management Facility between 9 a.m. and
5 p.m., Monday through Friday, except Federal holidays. The AD docket
contains this AD, the regulatory evaluation, any comments received, and
other information. The address for the Docket Office (phone: 800-647-
5527) is Document Management Facility, U.S. Department of
Transportation, Docket Operations, M-30, West Building Ground Floor,
Room W12-140, 1200 New Jersey Avenue SE., Washington, DC 20590.

FOR FURTHER INFORMATION CONTACT: Herman Mak, Aerospace Engineer, Engine
Certification Office, FAA, Engine & Propeller Directorate, 1200
District Avenue, Burlington, MA 01803; phone:<PHONE_NUMBER>; fax: 781-
238-7199; email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Discussion

    We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR
part 39 by adding an AD that would apply to all GE CF6-80E1 turbofan
engines with rotating CDP seal, P/N 1669M73P02, installed. The NPRM
published in the Federal Register on November 17, 2015 (80 FR 71747).
The NPRM was prompted by reports of cracks in the teeth of two rotating
CDP seals found during engine shop visits. The NPRM proposed to require
stripping of the coating, inspecting, and recoating the teeth of the
affected rotating CDP seals. We are issuing this AD to prevent cracking
of the CDP seal teeth, uncontained part release, damage to the engine,
and damage to the airplane.

Comments

    We gave the public the opportunity to participate in developing
this AD. The following presents the comments received on the NPRM (80
FR 71747, November 17, 2015) (``the NPRM'') and the FAA's response to
each comment.

Request To Clarify Definition

    Qantas, Air France, KLM Royal Dutch Airlines (KLM), and GE Aviation
requested that the shop visit definition be clarified to allow for
randomly occurring exemptions. Including exemptions would not increase
the time between full shop visits.
    We agree. We changed the shop visit definition to include specific
conditions that do not qualify as shop visits.

Request To Clarify the Shop Visit Definition

    KLM and Air France requested we clarify the phrase ``separation of
pairs of major mating engine flanges''.
    We agree. We changed the definition for engine shop visit.

Request To Change Compliance Time

    Qantas requested a more restrictive compliance time for engines
that experience blade-out events and a less restrictive compliance time
of next part

exposure for all other affected engines. Only engines that experience
blade-out conditions require urgent compliance times.
    We disagree. The compliance times in the NPRM were derived from
analysis that includes the risks associated with engines with and
without blade-out events. We did not change this AD.

Request To Clarify Compliance

    Qantas requested that we clarify the specific type of stationary
CDP seal repair and that we clarify what is considered a replaced
stationary CDP seal.
    We agree. We modified the Compliance section to specify the repair
as `honeycomb'. We also added a definition to define a replaced CDP
seal.

Request To Change Applicability

    KLM requested that the applicability be expanded to include spare
parts.
    We partially agree. We agree with the concern for accidental
installation of borazon-nickel coated rotating CDP seals because the
NPRM does not preclude this scenario. We disagree with expanding this
AD to include spare parts because ADs address unsafe conditions of
engines, not spare parts. We changed this AD by adding an installation
prohibition paragraph to address this concern.

Request To Change Credit for Previous Action

    KLM requested the Credit for Previous Action paragraph allow for
other approved original equipment manufacturer approved procedures for
stripping and recoating rotating CDP seal teeth. KLM recoated two CDP
seals using a procedure approved by GE.
    We disagree. It is unknown whether previous recoating procedures
are equivalent to the procedures specified in the Credit for Previous
Action paragraph of this AD. Any party may submit a request for an
Alternative Method of Compliance using the procedures listed in this
AD. We did not change this AD.

Additional Changes

    We clarified paragraphs (e)(2)(i) and (e)(2)(ii) of this AD.
    We updated the cost estimate. We changed the Costs of Compliance
paragraph of this AD by increasing the number of affected engines by
four and updating the costs accordingly.

Conclusion

    We reviewed the relevant data, considered the comments received,
and determined that air safety and the public interest require adopting
this AD with the changes described previously.
    We also determined that these changes will not increase the
economic burden on any operator or increase the scope of this AD.

Related Service Information Under 1 CFR Part 51

    We reviewed GE Service Bulletin (SB) CF6-80E1 S/B 72-0529, Revision
01, dated August 21, 2015. The SB describes procedures for stripping,
inspecting, and replacing the seal tooth coating on the affected
rotating CDP seals. This service information is reasonably available
because the interested parties have access to it through their normal
course of business or by the means identified in the ADDRESSES section.

Other Related Service Information

    We reviewed GE CF6-80E1 (GEK99376) Engine Manual, Revision 42,
dated March 15, 2014. The engine manual describes acceptable repair
procedures for the seal teeth.

Costs of Compliance

    We estimate that this AD will affect 10 engines installed on
airplanes of U.S. registry. We also estimate that it will take about
7.15 hours per engine to comply with this AD. The average labor rate is
$85 per hour. Parts would cost about $7,835 per engine. Based on these
figures, we estimate the total cost of this AD to U.S. operators to be
$84,428.

Authority for This Rulemaking

    Title 49 of the United States Code specifies the FAA's authority to
issue rules on aviation safety. Subtitle I, section 106, describes the
authority of the FAA Administrator. Subtitle VII: Aviation Programs,
describes in more detail the scope of the Agency's authority.
    We are issuing this rulemaking under the authority described in
Subtitle VII, Part A, Subpart III, Section 44701: ``General
requirements.'' Under that section, Congress charges the FAA with
promoting safe flight of civil aircraft in air commerce by prescribing
regulations for practices, methods, and procedures the Administrator
finds necessary for safety in air commerce. This regulation is within
the scope of that authority because it addresses an unsafe condition
that is likely to exist or develop on products identified in this
rulemaking action.

Regulatory Findings

    This AD will not have federalism implications under Executive Order
13132. This AD will not have a substantial direct effect on the States,
on the relationship between the national government and the States, or
on the distribution of power and responsibilities among the various
levels of government.
    For the reasons discussed above, I certify that this AD:
    (1) Is not a ``significant regulatory action'' under Executive
Order 12866,
    (2) Is not a ``significant rule'' under DOT Regulatory Policies and
Procedures (44 FR 11034, February 26, 1979),
    (3) Will not affect intrastate aviation in Alaska to the extent
that it justifies making a regulatory distinction, and
    (4) Will not have a significant economic impact, positive or
negative, on a substantial number of small entities under the criteria
of the Regulatory Flexibility Act.

List of Subjects in 14 CFR Part 39

    Air transportation, Aircraft, Aviation safety, Incorporation by
reference, Safety.

Adoption of the Amendment

    Accordingly, under the authority delegated to me by the
Administrator, the FAA amends 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

0
1. The authority citation for part 39 continues to read as follows:

    Authority: 49 U.S.C. 106(g), 40113, 44701.

Sec.  39.13  [Amended]

0
2. The FAA amends Sec.  39.13 by adding the following new airworthiness
directive (AD):

2016-06-14 General Electric Company: Amendment 39-18445; Docket No.
FAA-2015-4023; Directorate Identifier 2015-NE-29-AD.

(a) Effective Date

    This AD is effective May 9, 2016.

(b) Affected ADs

    None.

(c) Applicability

    This AD applies to all General Electric Company (GE) CF6-80E1
turbofan engines with rotating compressor discharge pressure (CDP)
seals, part number (P/N) 1669M73P02, installed.

(d) Unsafe Condition

    This AD was prompted by reports from the manufacturer of cracks
in the teeth of two rotating CDP seals found during engine shop
visits. We are issuing this AD to prevent cracking of the CDP seal
teeth, which can lead to uncontained part release, damage to the
engine, and damage to the airplane.

(e) Compliance

    (1) Comply with this AD within the compliance times specified,
unless already done.

    (2) Strip coating, inspect, and recoat the teeth of the rotating
CDP seal, P/N 1669M73P02. Use paragraph 3.C.(2) of GE Service
Bulletin (SB) CF6-80E1 S/B 72-0529, Revision 01, dated August 21,
2015 to do the strip coating, inspecting, and recoating, as follows:
    (i) For engines that have had stationary CDP seal, P/N
1347M28G02, replaced or stationary CDP seal honeycomb repaired;
strip coating, inspect, and recoat the teeth of the rotating CDP
seal at the next engine shop visit.
    (ii) For engines that have not had stationary CDP seal, P/N
1347M28G02, replaced or stationary CDP seal honeycomb repaired;
strip coating, inspect, and recoat the teeth of the rotating CDP
seal at the next part exposure of the rotating CDP seal.

(f) Installation Prohibition

    After the effective date of this AD, do not install any rotating
CDP seal, P/N 1669M73P02, that has not had its seal teeth recoated
using procedures specified in ESM 72-31-10, REPAIR 002 of GE CF6-
80E1 (GEK99376) Engine Manual, Revision 42, dated March 15, 2014,
into any engine.

(g) Definitions

    (1) For the purpose of this AD, exposure of the rotating CDP
seal is defined as removal of the compressor rear frame from the
high-pressure compressor (HPC) module.
    (2) For the purpose of this AD, an engine shop visit is defined
as the induction of an engine into the shop for maintenance
involving the separation of any major mating engine flanges, except
that the separation of engine flanges solely for the following
purposes is not considered a shop visit:
    (i) Transportation without subsequent engine maintenance.
    (ii) Removing the turbine rear frame (TRF) for repair of TRF
cracking.
    (iii) Removing the top or bottom HPC case, or both, for HPC
airfoil maintenance.
    (iv) Removing only the accessory gearbox and/or transfer
gearbox.
    (v) Replacing the high-pressure turbine (HPT) stage 1 blades per
CF6-80E1 SB 72-0504 ``Quick-Turn Workscope Procedure to Replace CF6-
80E1 Stage 1 HPT Blades''.
    (3) For the purpose of this AD, a stationary CDP seal is
replaced if at any previous shop visit, the seal has been removed
and a different seal is installed.

(h) Credit for Previous Action

    You may take credit for the actions that are required by
paragraph (e) of this AD if the actions were performed before the
effective date of this AD using the procedures in ESM 72-31-10,
REPAIR 002 of the GE CF6-80E1 (GEK99376) Engine Manual, Revision 42,
dated March 15, 2014, or earlier versions.

(i) Alternative Methods of Compliance (AMOCs)

    The Manager, Engine Certification Office, FAA, may approve AMOCs
to this AD. Use the procedures found in 14 CFR 39.19 to make your
request. You may email your request to<EMAIL_ADDRESS>
(j) Related Information

    (1) For more information about this AD, contact Herman Mak,
Aerospace Engineer, Engine Certification Office, FAA, Engine &
Propeller Directorate, 1200 District Avenue, Burlington, MA 01803;
phone:<PHONE_NUMBER>; fax:<PHONE_NUMBER>; email<EMAIL_ADDRESS>
(k) Material Incorporated by Reference

    (1) The Director of the Federal Register approved the
incorporation by reference (IBR) of the service information listed
in this paragraph under 5 U.S.C. 552(a) and 1 CFR part 51.
    (2) You must use this service information as applicable to do
the actions required by this AD, unless the AD specifies otherwise.
    (i) General Electric Company Service Bulletin CF6-80E1 S/B 72-
0529, Revision 01, dated August 21, 2015.
    (ii) Reserved.
    (3) For GE service information identified in this AD, contact
General Electric Company, GE Aviation, Room 285, 1 Neumann Way,
Cincinnati, OH 45215; phone:<PHONE_NUMBER>; email:
<EMAIL_ADDRESS>    (4) You may view this service information at FAA, Engine &
Propeller Directorate, 1200 District Avenue, Burlington, MA. For
information on the availability of this material at the FAA, call
781-238-7125.
    (5) You may view this service information at the National
Archives and Records Administration (NARA). For information on the
availability of this material at NARA, call<PHONE_NUMBER>, or go to:
http://www.archives.gov/federal-register/cfr/ibr-locations.html.

    Issued in Burlington, Massachusetts, on March 16, 2016.
Ann C. Mollica,
Acting Manager, Engine & Propeller Directorate, Aircraft Certification
Service.
[FR Doc. 2016-07377 Filed 4-1-16; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 78, Number 6 (Wednesday, January 9, 2013)]
[Notices]
[Pages 1894-1898]
[FR Doc No: 2013-00196]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68569; File No. SR-NYSEArca-2012-140]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To List and Trade
Options on the Nasdaq-100 Index (NDX) and the Reduced-Value Nasdaq-100
Index (MNX) and To Amend NYSE Arca Rule 5.15(a)(1) To Provide That
There Are No Position Limits for Options on NDX and MNX

January 3, 2013.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 20, 2012, NYSE Arca, Inc. (``NYSE Arca'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II 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.
---------------------------------------------------------------------------

    \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 list and trade options on Nasdaq-100 Index
(NDX) and the reduced-value Nasdaq-100 Index (MNX) and to amend NYSE
Arca Rule 5.15(a)(1) to provide that there are no position limits for
options on NDX and MNX. The text of the proposed rule change is
available on the Exchange's Web site at www.nyse.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 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
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to list and trade options on the full and
reduced values of the Nasdaq 100 Index (the ``Index''), a stock index
calculated and maintained by Nasdaq.\3\ Specifically, the Exchange
proposes to list options based on Nasdaq-100 Index (NDX) and the
reduced-value Nasdaq-100 Index (MNX) and to amend Rule 5.15(a)(1) to
provide that there are no position limits for options on NDX and MNX.
The Exchange also proposes to list and trade FLEX Options and Long-Term
Equity Option Series (``LEAPS'') on NDX and MNX. The options on NDX and
MNX listed on the Exchange will be identical to those already listed on
multiple exchanges.
---------------------------------------------------------------------------

    \3\ A description of the Index is available on Nasdaq's Web site
at http://dynamic.nasdaq.com/dynamic/nasdaq100_activity.stm.
---------------------------------------------------------------------------

    The Exchange notes that it initially listed for trading options on
NDX and MNX as broad-based index options in January 2010 without filing
a Rule 19b-4 filing with the Commission.\4\ In addition, when initially
listed and traded, because none of the other exchanges that list and
trade NDX and MNX had position limits for those indices, nor did the
Options Clearing Corporation disseminate position limits information
for NDX and MNX, the Exchange similarly did not apply position limits
to NDX and MNX. The Exchange is filing the proposed rule change because
options on the Index will not otherwise qualify for listing on the
Exchange due to the component weightings of the Index. Specifically,
Exchange Rule 5.12(a)(8), which allows the listing of options on a
broad-based index currently requires that no component of a broad-based
index account for more than ten percent of the weight of the index, and
the five highest weighted component securities in the index do not, in
the aggregate, account for more than thirty-three percent (33%) of the
weight of the index.\5\ Therefore, like other options exchanges that
currently trade options on the Index, the Exchange is seeking to file
in order to list and trade options on the Index under the conditions
and according to the standards set forth below.
---------------------------------------------------------------------------

    \4\ See Exchange Rule 5.15.
    \5\ See Exchange Rule 5.12(a)(8).
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Index Design and Composition
    The Index was launched in January 1985 and represents the largest
non-financial domestic and international issues listed on Nasdaq based
on market capitalization. The Index reflects companies across major
industry groups, including computer hardware and software,
telecommunications, retail/wholesale trade, and biotechnology.
    The Index is calculated using a modified capitalization-weighted
methodology. The value of the Index equals the aggregate value of the
Index share weights of each of the component securities multiplied by
each security's respective official closing price on Nasdaq, divided by
the Divisor. The Divisor serves the purpose of scaling such aggregate
value (otherwise in the trillions) to a lower order of magnitude which
is more desirable for Index reporting purposes. If trading in an Index
security is halted while the market is open, the last Nasdaq traded
price for that security is used for all index computations until
trading resumes. If trading is halted before the market is open, the
previous day's official closing price is used. Additionally, the Index
ordinarily is calculated without regard to dividends on component
securities. The modified capitalization-weighted methodology is
expected to retain, in general, the economic attributes of
capitalization weighting, while providing enhanced diversification. To
accomplish this, Nasdaq reviews the composition of the Index quarterly
and adjusts the weighting of Index components using a proprietary
algorithm, if certain pre-established weight distribution requirements
are not met.
    Nasdaq has certain eligibility requirements for inclusion in the
Index.\6\ For example, to be eligible for inclusion in the Index, a
component security must be exclusively listed on the Nasdaq National
Market, or dually listed on a national securities exchange prior to
January 1, 2004.\7\ Only one class of security per issuer is considered
for inclusion in the Index.
---------------------------------------------------------------------------

    \6\ The initial eligibility criteria and continued eligibility
criteria are available on Nasdaq's Web site at http://dynamic.nasdaq.com/dynamic/nasdaq100_activity.stm.
    \7\ One of the eligibility requirements it that the security
must be seasoned (it has been listed on the market for three whole
months [sic]). In the case of spin-offs, the operating history of
the spin-off will be considered by Nasdaq. Additionally, if a
component security will otherwise qualify to be in the top 25% of
securities included in the Index by market capitalization for the
six prior consecutive months, it will be eligible if it had been
listed for one year.
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    Additionally, the issuer of a component security cannot be a
financial or investment company and cannot currently be involved in
bankruptcy proceedings. Criteria for inclusion also require the average
daily trading volume of a component security to be at least 200,000
shares on Nasdaq. If a component security is of a foreign issuer, based
on its country of incorporation, it must have listed options or be
eligible for listed-options trading. In addition, the issuer of a
component security must not have entered into any definitive agreement
or other arrangement which will likely result in the security no longer
being Index eligible. An issuer of a component security also must not
have annual financial statements with an audit opinion that is
currently withdrawn.
    As of November 26, 2012, the following were characteristics of the
Index:
     The total capitalization of all components of the Index
was $3.11 trillion;
     Regarding component capitalization, (a) the highest
capitalization of a component was $554.57 billion (Apple, Inc.), (b)
the lowest capitalization of a component was $2.12 billion (Apollo
Group, Inc.), (c) the mean capitalization of the components was $31.05
billion, and (d)

the median capitalization of the components was $10.91 billion;
     Regarding component price per share, (a) the highest price
per share of a component was $661.15 (Google, Inc.), (b) the lowest
price per share of a component was $2.76 (Sirius XM Radio, Inc.), (c)
the mean price per share of the components was $70.30, and (d) the
median price per share of the components was $40.38;
     Regarding component weightings, (a) the highest weighting
of a component was 18.52% (Apple, Inc.), (b) the lowest weighting of a
component was 0.07% (Apollo Group, Inc.), (c) the mean weighting of the
components was 1.00%, (d) the median weighting of the components was
0.37%, and (e) the total weighting of the top five highest weighted
components was 40.78% (Apple Inc., Microsoft Corporation, Google Inc.,
Oracle Inc., and Amazon.com, Inc.);
     Regarding component available shares, (a) the most
available shares of a component was 8.42 billion shares (Microsoft
Corp.), (b) the least available shares of a component was 39.76 million
shares (Intuitive Surgical, Inc.), (c) the mean available shares of the
components was 750.27 million shares, and (d) the median available
shares of the components was 295.85 million shares;
     Regarding the six-month average daily volumes of the
components, (a) the highest six-month average daily volume of a
component was 61.25 million shares (Sirius XM Radio Inc.), (b) the
lowest six-month average daily volume of a component was 331,667 shares
(Intuitive Surgical, Inc.), (c) the mean six-month average daily volume
of the components was 6.94 million shares, (d) the median six-month
average daily volume of the components was 3.13 million shares, (e) the
average of six-month average daily volumes of the five most heavily
traded components was 43.34 million shares (Sirius XM Radio, Inc.,
Microsoft Corp., Intel Corp., Cisco Systems, Inc., and Micron
Technology, Inc.), and (f) 100% of the components had a six-month
average daily volume of at least 50,000; and
     Regarding option eligibility, (a) 100% of the components
were options eligible, as measured by weighting, and (b) 100% of the
components were options eligible, as measured by number.
Index Calculation and Index Maintenance
    In recent years, the value of the Full-size Nasdaq 100 Index has
increased significantly, such that the value of the Index stood at
3,012.03 as of November 29, 2012. As a result, the premium for the
Full-size Nasdaq 100 Index options also has increased. The Exchange
believes that this has caused Full-size Nasdaq 100 Index options to
trade at a level that may be uncomfortably high for retail investors.
The Exchange believes that listing options on reduced values will
attract a greater source of customer business than if the options were
based only on the full value of the Index. The Exchange further
believes that listing options on reduced values will provide an
opportunity for investors to hedge, or speculate on, the market risk
associated with the stocks comprising the Index. Additionally, by
reducing the values of the Index, investors will be able to use this
trading vehicle while extending a smaller outlay of capital. The
Exchange believes that this should attract additional investors and, in
turn, create a more active and liquid trading environment.\8\
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    \8\ Options trading on MNX have generated considerable interest
from investors, as measured by its robust trading volume on multiple
exchanges in the third quarter of 2012 (126,151 contracts total).
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    The Full-size Nasdaq 100 Index and the Mini Nasdaq 100 Index levels
are calculated continuously, using the last sale price for each
component stock in the Index, and are disseminated every 15 seconds
throughout the trading day.\9\ The Full-size Nasdaq 100 Index level
equals the current market value of component stocks multiplied by 125
and then divided by the stocks' market value of the adjusted base
period. The adjusted base period market value is determined by
multiplying the current market value after adjustments, times the
previous base period market value and then dividing that result by the
current market value before adjustments. To calculate the value of the
Mini Nasdaq 100 Index, the full value of the Index is divided by ten.
To maintain continuity for the Index's value, the divisor is adjusted
periodically to reflect events such as changes in the number of common
shares outstanding for component stocks, company additions or
deletions, corporate restructurings, or other capitalization changes.
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    \9\ Full-size Nasdaq 100 Index and Mini Nasdaq 100 Index levels
are disseminated through the Nasdaq Index Dissemination Services
(``NIDS'') during normal Nasdaq trading hours (9:30 a.m. to 4:00
p.m. ET). The Index is calculated using Nasdaq prices (not
consolidated) during the day and the official closing price for the
close. The closing value of the Index may change until 5:15 p.m. ET
due to corrections to the NOCP of the component securities. In
addition, the Index is published daily on Nasdaq's Web site and
through major quotation vendors such as Reuters and Thomson's ILX.
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    The settlement values for purposes of settling both Full-size
Nasdaq 100 Index (``Full-size Settlement Value'') and Mini Nasdaq 100
Index (``Mini Settlement Value'') are calculated based on a volume-
weighted average of prices reported in the first five minutes of
trading for each of the component securities on the last business day
before the expiration date (``Settlement Day'').\10\ The Settlement Day
is normally the Friday preceding ``Expiration Saturday.'' \11\ If a
component security in the Index does not trade on Settlement Day, the
closing price from the previous trading day will be used to calculate
both the Full-size Settlement Value and Mini Settlement Value.\12\
Accordingly, trading in options on the Index will normally cease on the
Thursday preceding an Expiration Saturday. Nasdaq monitors and
maintains the Index. Nasdaq is responsible for making all necessary
adjustments to the Index to reflect component deletions; share changes;
stock splits; stock dividends; stock price adjustments due to
restructuring, mergers, or spin-offs involving the underlying
components; and other corporate actions. Some corporate actions, such
as stock splits and stock dividends, require simple changes to the
available shares outstanding and the stock prices of the underlying
components.
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    \10\ The aggregate exercise value of the option contract is
calculated by multiplying the Index value by the Index multiplier,
which is 100.
    \11\ For any given expiration month, options on the Nasdaq 100
Index will expire on the third Saturday of the month.
    \12\ Full-size Settlement Values and Mini Settlement Values are
disseminated by Nasdaq.
---------------------------------------------------------------------------

    The component securities are evaluated on an annual basis, except
under extraordinary circumstances which may result in an interim
evaluation, as follows: securities listed on Nasdaq that meet its
eligibility criteria are ranked by market value using closing prices as
of the end of October and publicly available total shares outstanding
as of the end of November. Eligible component securities which are
already in the Index and ranked in the top 100 (based on market value)
are retained in the Index. Component securities that are ranked from
101 to 125 are also retained, provided that those securities were
ranked in the top 100 eligible securities as of the previous ranking
review or have been added to the Index subsequent to the previous
ranking review. Securities not meeting such criteria are replaced. The
replacement securities chosen are those Index-eligible securities not
currently in the

Index that have the largest market capitalization.
    Generally, the list of annual additions and deletions to the Index
is publicly announced in early December, and changes to the Index are
made effective after the close of trading on the third Friday in
December. Moreover, if at any time during the year a component security
is determined by Nasdaq to become ineligible for continued inclusion in
the Index based on the continued eligibility criteria, that component
security will be replaced with the largest market capitalization
component not currently in the Index that met the eligibility criteria
described earlier.
    The Exchange will monitor the Index on a quarterly basis, and will
not list any additional series for trading and will limit all
transactions in such options to closing transactions only for the
purpose of maintaining a fair and orderly market and protecting
investors if: (i) the number of securities in the Index drops by one-
third or more; (ii) 10% or more of the weight of the Index is
represented by component securities having a market value of less than
$ 75 million; (iii) less than 80% of the weight of the Index is
represented by component securities that are eligible for options
trading pursuant to Exchange Rule 5.3.; (iv) 10% or more of the weight
of the Index is represented by component securities trading less than
20,000 shares per day; or (v) the largest component security accounts
for more than 25% of the weight of the Index or the largest five
components in the aggregate account for more than 50% of the weight of
the Index.
    The Exchange represents that, if the Index ceases to be maintained
or calculated, or if the Index values are not disseminated every 15
seconds by a widely available source, it will not list any additional
series for trading and will limit all transactions in such options to
closing transactions only for the purpose of maintaining a fair and
orderly market and protecting investors.
Contract Specifications
    The proposed contract specifications are identical to the contract
specifications of NDX and MNX options that are currently listed on
other exchanges. The Index is a broad-based index. Options on the
Nasdaq 100 Index are European-style and A.M. cash-settled. The
Exchange's trading hours for index options (9:30 a.m. to 4:15 p.m. ET),
will apply to options on the Nasdaq 100 Index. Exchange Rules that are
applicable to the trading of options on broad-based indexes will apply
to both NDX and MNX. The trading of NDX and MNX options will be subject
to, among others, Exchange Rules governing margin requirements and
trading halt procedures for index options.
    The Exchange also proposes to amend Rule 5.15(a)(1) to establish
that there are no position limits for options on NDX, which is
consistent with the treatment of position limits for NDX on other
options markets.\13\ Because MNX is the reduced-value option on the NDX
broad-based index option, pursuant to existing Rule 5.15(a), MNX will
also have no position limits pursuant to this proposed change. The NDX
contracts will be aggregated with the MNX contracts, where ten MNX
contracts equal one NDX contract.\14\ The Exchange will set strike
price intervals for MNX contracts and NDX contract that will be similar
to the strike price intervals that are already being used by multiple
exchanges that list these options.\15\ The minimum increment size for
series trading below $ 3 is $ 0.05, and for series trading at or above
$ 3 is $ 0.10.\16\ The Exchange's margin rules will be applicable.\17\
The Exchange may list options on both the NDX and the NMX in up to
seven consecutive expiration months plus up to three successive
expiration months in the March cycle.\18\ The Exchange intends to list
the same NDX and MNX options that are already listed by multiple other
options exchanges. The trading of LEAPS NDX and LEAPS MNX options will
be subject to the same rules that govern the trading of all the
Exchange's index options, including sales practice rules, margin
requirements, and trading rules.\19\ The trading of FLEX NDX and FLEX
MNX options will be subject to the same rules that govern the trading
of all the Exchange's index options, including sales practice rules,
margin requirements, and trading rules.\20\
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    \13\ See NYSE MKT LLC (``NYSE MKT'') Rule 904C; Chicago Board
Options Exchange (``CBOE'') Rule 24.4; NASDAQ OMX PHLX (``Phlx'')
Rule 1001A.
    \14\ See Exchange Rule 5.15(c).
    \15\ See Exchange Rule 5.19.
    \16\ See Exchange Rule 6.72.
    \17\ See Exchange Rule 5.25.
    \18\ See Exchange Rule 5.19.
    \19\ See Exchange Rule 5.19(b).
    \20\ See Exchange Rule 5, Section 4.
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Surveillance and Capacity
    The Exchange represents that it has an adequate surveillance
program in place for options traded on the Index and intends to apply
those same program procedures that it applies to the Exchange's other
index options. Additionally, the Exchange is a member of the
Intermarket Surveillance Group (``ISG'') under the Intermarket
Surveillance Group Agreement, dated June 20, 1994.\21\ The ISG members
work together to coordinate surveillance and investigative information
sharing in the stock and options markets. In addition, the major
futures exchanges are affiliated members of the ISG, which allows for
the sharing of surveillance information for potential intermarket
trading abuses.
---------------------------------------------------------------------------

    \21\ A list of the current members and affiliate members of ISG
can be found at www.isgportal.com.
---------------------------------------------------------------------------

    The Exchange represents that it has the necessary systems capacity
to support new options series that will result from the introduction of
NDX, MNX, NDX LEAPS, MNX LEAPS, FLEX NDX, and FLEX MNX.
    Finally, the Exchange proposes to amend Commentary .01 to Rule 5.22
to provide that the reporting authority designated by the Exchange for
the Index underlying the NDX and MNX index options is NASDAQ OMX Group,
Inc.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) \22\ of
the Act, in general, and furthers the objectives of Section
6(b)(5),\23\ in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system and, in general, to protect
investors and the public interest.
---------------------------------------------------------------------------

    \22\ 15 U.S.C. 78f(b).
    \23\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the rule proposal will remove
impediments to and perfect the mechanism of a free and open market
because it enabling [sic] the Exchange to immediately list and trade
full and reduced-size options on the Index in a manner consistent with
other options exchanges. The Exchange believes that the proposed rule
change would be beneficial to market participants, including market
makers, institutional investors and retail investors, by specifying
that there are no position limits on NDX and MNX. The Exchange further
notes that the rule proposal will remove impediments to and perfect the
mechanism of a free and open market because it will harmonize how
position limits are treated for NDX and MNX options across options
markets. The Commission has already approved the listing and trading
and the elimination of position limits for NDX

and MNX options for other options exchanges, and the Exchange believes
that harmonizing the standard across options markets will enable market
participants to handle trading in NDX and MNX options similarly
regardless of which options market in which they are trading.

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

    Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act \24\ and Rule 19b-4(f)(6)
thereunder.\25\
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    \24\ 15 U.S.C. 78s(b)(3)(A).
    \25\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to provide the Commission
with written notice of its intent to file the proposed rule change,
along with a brief description and text of the proposed rule change,
at least five business days prior to the date of filing of the
proposed rule change, or such shorter time as designated by the
Commission. The Exchange has fulfilled this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally does
not become operative for 30 days after the date of filing. However,
Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest. The Exchange requests that the Commission waive
the 30-day operative delay so that it can list and trade NDX and MNX
options with no position limits without delay. The Commission believes
that waiving the 30-day operative delay is consistent with the
protection of investors and the public interest.\26\ The Commission
notes the proposal is substantively identical to prior proposed rule
changes and existing rules of other exchanges, and does not raise any
new regulatory issues.\27\ For these reasons, the Commission designates
the proposed rule change as operative upon filing.
---------------------------------------------------------------------------

    \26\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
    \27\ See, e.g., Security Exchange Act Release Nos. 57654 (April
11, 2008), 73 FR 21003 (April 17, 2008) (SR-NASDAQ-2008-028) and
57936 (June 6, 2008), 73 FR 33481 (June 12, 2008) (SR-Phlx-2008-36).
See also NYSE MKT Rule 904C, CBOE Rule 24.4, and Phlx Rule 1001A.
---------------------------------------------------------------------------

    At any time within 60 days 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 email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2012-140 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-2012-140. This
file number should be included on the subject line if email 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
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the 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 Number SR-NYSEArca-2012-140 and should
be submitted on or before January 30, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
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    \28\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-00196 Filed 1-8-13; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: September 16, 2010 (Volume 75, Number 179)]
[Notices]
[Page 56627-56628]
[DOCID:fr16se10-108]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-62878; File No. SR-CBOE-2010-079]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change, as Modified by Amendment No. 1, To Change the
Transaction Fees for 51 Securities on CBSX

September 9, 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 August 31, 2010, the Chicago Board Options Exchange,
Incorporated (the ``Exchange'' or ``CBOE'') filed with the Securities
and Exchange Commission (the ``Commission'') the proposed rule change
as described in Items I and II below, which Items have been prepared by
the Exchange. On September 7, 2010, the Exchanged filed Amendment No. 1
to the proposed rule change.\3\ The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ In Amendment No. 1, the Exchange deleted a duplicative
reference to the securities IYR, MDT, and MGM in the Fee Schedule
and the Purpose section.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    CBOE proposes to amend the Fee Schedule of its CBOE Stock Exchange
(``CBSX'') to modify the transaction fees for fifty securities
currently traded on CBSX. The text of the proposed rule change is
available on the Exchange's Web site (http://www.cboe.org/legal), at
the Exchange's principal office, and at the Commission.

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
    On August 23, 2010, the Commission published an immediately
effective rule filing to modify the transaction fees for 24 securities
currently traded on CBSX (the following symbols: BAC, C, DXD, EMC, EWJ,
F, FAX, FAZ, GE, INTC, MOT, MSFT, MU, NOK, Q, QID, S, SIRI, SKF, T,
TWM, UNG, UWM, XLF).\4\ The Exchange now proposes to add 51 securities
to that list of securities (the following symbols: AA, AMAT, AMD, BGZ,
BP, BSX, CMCSA, COCO, CSCO, CX, DELL, DUK, EBAY, EEM, EWT, FAS, FLEX,
HBAN, IYR, MDT, MGM, NLY, NVDA, NWSA, ORCL, PFE, QCOM, QQQQ, SBUX, SH,
SLV, SMH, SSO, SYMC, TBT, TSM, TXN, UCO, USO, VALE, VWO, WFC, XHB, XLB,
XLK, XLP, XLU, XLV, XLY, XRX, YHOO). For those securities already
approved for the new transaction fees as well as those that would be
added by this proposed rule change, assuming their prices do not drop
below $1, the takers of liquidity will receive a $0.0014 per share
rebate, and makers of liquidity will incur a $0.0018 charge. The new
pricing strategy is designed to incent order routing behavior that
selects CBSX as the first destination. The changes will take effect on
September 1, 2010.
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No. 34-62758 (August 23,
2010), 75 FR 52792 [sic] (August 27, 2010) (SR-CBOE-2010-075).
---------------------------------------------------------------------------

2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Securities Exchange Act of 1934 (``Act''),\5\ in general, and furthers
the objectives of Section 6(b)(4) \6\ of the Act in particular, in that
it is designed to provide for the equitable allocation of reasonable
dues, fees, and other charges among CBOE members and other persons
using its facilities.
---------------------------------------------------------------------------

    \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

    CBOE 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 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 foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act and paragraph (f) of Rule 19b-4 thereunder. At
any time within 60 days 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_ADDRESS>Please include
File Number SR-CBOE-2010-079 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-CBOE-2010-079. 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
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 Number SR-CBOE-2010-079 and should be
submitted on or before October 7, 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).
---------------------------------------------------------------------------

Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-23105 Filed 9-15-10; 8:45 am]
BILLING CODE 8010-01-P