[Federal Register Volume 86, Number 146 (Tuesday, August 3, 2021)]
[Rules and Regulations]
[Pages 41702-41704]
[FR Doc No: 2021-16390]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2021-0385; Airspace Docket No. 21-AGL-21]
RIN 2120-AA66

Amendment of Class D and Class E Airspace and Revocation of Class
E Airspace; Columbus, OH

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

-----------------------------------------------------------------------

SUMMARY: This action amends the Class D airspace and Class E airspace
at Columbus, OH, and revokes the Class E airspace extending upward from
700 feet above the surface at Darby Dan Airport, Columbus, OH. This
action is the result of an airspace review caused by the
decommissioning of the Rickenbacker International Airport runway 5R
middle marker and the cancellation of the instrument procedures at
Darby Dan Airport. The name and geographic coordinates of the various
airports are also being updated to coincide with the FAA's aeronautical
database.

DATES: Effective 0901 UTC, October 7, 2021. The Director of the Federal
Register approves this incorporation by reference action under 1 CFR
part 51, subject to the annual revision of FAA Order 7400.11 and
publication of conforming amendments.

ADDRESSES: FAA Order 7400.11E, Airspace Designations and Reporting
Points, and subsequent amendments can be viewed online at https://www.faa.gov/air_traffic/publications/. For further information, you can
contact the Airspace Policy Group, Federal Aviation Administration, 800
Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783. The Order is also available for inspection at the National
Archives and Records Administration (NARA). For information on the
availability of FAA Order 7400.11E at NARA, email
<EMAIL_ADDRESS>or go to https://www.archives.gov/federal-register/cfr/ibr-locations.html.

FOR FURTHER INFORMATION CONTACT: Jeffrey Claypool, Federal Aviation
Administration, Operations Support Group, Central Service Center, 10101
Hillwood Parkway, Fort Worth, TX 76177; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. 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. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it amends the Class D airspace at Ohio State University Airport,
Columbus, OH, and Rickenbacker International Airport, Columbus, OH, and
the Class E airspace extending upward from 700 feet above the surface
at John Glenn Columbus International Airport, Columbus, OH, and
Rickenbacker International Airport, and revokes the Class E airspace
extending upward from 700 feet above the surface at Darby Dan Airport,
Columbus, OH, to support instrument flight rule operations at these
airports.

History

    The FAA published a notice of proposed rulemaking (NPRM) in the
Federal Register (86 FR 28729; May 28, 2021) for Docket No. FAA-2021-
0385 to amend the Class D airspace and Class E airspace at Columbus,
OH, and revoke the Class E airspace extending upward from 700 feet
above the surface at Darby Dan Airport, Columbus, OH. Interested
parties were invited to participate in this rulemaking effort by
submitting written comments on the proposal to the FAA. No comments
were received.
    Class D and E airspace designations are published in paragraph 5000
and 6005, respectively, of FAA Order 7400.11E, dated July 21, 2020, and
effective September 15, 2020, which is incorporated by reference in 14
CFR 71.1. The Class D and E airspace designations listed in this
document will be published subsequently in the order.

Availability and Summary of Documents for Incorporation by Reference

    This document amends FAA Order 7400.11E, Airspace Designations and
Reporting Points, dated July 21, 2020, and effective September 15,
2020. FAA Order 7400.11E is publicly available as listed in the
ADDRESSES section of this document. FAA Order 7400.11E lists Class A,
B, C, D, and E airspace areas, air traffic service routes, and
reporting points.

Differences From the NPRM

    Subsequent to publication of the NPRM, the FAA discovered a
typographic error in the NPRM. The NPRM published the airport name of
``Darby Dan Airport'' as ``Dan Darby Airport.'' As the correction does
not affect the airspace as proposed, it is incorporated into this rule.

The Rule

    This amendment to 14 CFR part 71:
    Amends the Class D airspace at Ohio State University Airport,
Columbus Ohio by removing the name of the airport from the header of
the airspace legal description to comply with changes to FAA Order
7400.2N, Procedures for Handling Airspace Matters; removes the city
associated with the airport in the airspace legal description to comply
with changes to FAA Order 7400.2N; updates the geographic coordinates
of the airport to coincide with the FAA's aeronautical database; and
replaces the outdated term ``Airport/Facility Directory'' with ``Chart
Supplement'';
    Amends the Class D airspace to within a 4.6-mile (increased from a
4.5-mile) radius of Rickenbacker International Airport, Columbus, OH;
removes the airport name from the header of the airspace legal
description to comply with changes to FAA Order 7400.2N; and removes
the city associated with the airport to comply with changes to FAA
Order 7400.2N;
    And amends the Class E airspace extending upward from 700 feet
above the surface to within a 7.5-mile (increased from a 7-mile) radius
of John Glenn Columbus International Airport, Columbus, OH; updates the
name of John Glenn Columbus International Airport (previously Port
Columbus International Airport) to coincide with the FAA's aeronautical
database; removes the cities associated with the airports to comply
with changes to FAA Order 7400.2N; within a 7.1-mile (increased from a
7-mile) radius of Rickenbacker International Airport; within 4 miles
each side of the 045[deg] bearing from Rickenbacker International
Airport extending from the 7.1-mile (previously 7-mile) radius to 12.6
miles (increased from 12.5 miles) northeast of the Rickenbacker
International Airport; updates the geographic coordinates of Ohio State
University Airport to coincide with the FAA's aeronautical database;
removes Darby Dan Airport, Columbus, OH, and the associated airspace as
the instrument procedures at this airport have been cancelled and the
airspace is no longer required; and removes the exclusionary language
from the airspace legal description as it is not required.
    This action is necessary due to airspace reviews caused by the
decommissioning of the Rickenbacker International Airport runway 5R
middle maker, which provided navigation information for the instrument
procedures at this airport, and the cancellation of the instrument
procedures at Darby Dan Airport, Columbus, OH.
    FAA Order 7400.11, Airspace Designations and Reporting Points, is
published yearly and effective on September 15.

Regulatory Notices and Analyses

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current, is
non-controversial and unlikely to result in adverse or negative
comments. It, therefore: (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); and (3) does not warrant preparation of a regulatory evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that only affects air traffic procedures and air navigation, it is
certified that this rule, when promulgated, does not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.

Environmental Review

    The FAA has determined that this action qualifies for categorical
exclusion under the National Environmental Policy Act in accordance
with FAA Order 1050.1F, ``Environmental Impacts: Policies and
Procedures,'' paragraph 5-6.5.a. This airspace action is not expected
to cause any potentially significant environmental impacts, and no
extraordinary circumstances exist that warrant preparation of an
environmental assessment.

Lists of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for part 71 continues to read as follows:

    Authority: 49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1  [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of FAA Order 7400.11E,
Airspace Designations and Reporting Points, dated July 21, 2020, and
effective September 15, 2020, is amended as follows:

Paragraph 5000 Class D Airspace.

* * * * *

AGL OH D Columbus, OH [Amended]

Ohio State University Airport, OH
    (Lat. 40[deg]04'46'' N, long. 83[deg]04'24'' W)

    That airspace extending upward from the surface to and including
3,400 feet MSL within a 4-mile radius of Ohio State University
Airport, excluding that airspace within the Columbus, Port Columbus
International Airport, OH, Class C airspace area. This Class D
airspace area is effective during the specific dates and times
established in advance by a Notice to Airmen. The effective dates
and times will thereafter be continuously published in the Chart
Supplement.

AGL OH D Columbus, OH [Amended]

Rickenbacker International Airport, OH
    (Lat. 39[deg]48'50'' N, long. 82[deg]55'40'' W)

    That airspace extending upward from the surface to and including
3,000 feet MSL within a 4.6-mile radius of Rickenbacker
International Airport, excluding that airspace within the Columbus,
Port Columbus International Airport, OH, Class C airspace area.

Paragraph 6005 Class E Airspace Areas Extending Upward From 700
Feet or More Above the Surface of the Earth.

* * * * *

AGL OH E5 Columbus, OH [Amended]

John Glenn Columbus International Airport, OH
    (Lat. 39[deg]59'49'' N, long. 82[deg]53'32'' W)

Rickenbacker International Airport, OH
    (Lat. 39[deg]48'50'' N, long. 82[deg]55'40'' W)
Ohio State University Airport, OH
    (Lat. 40[deg]04'46'' N, long. 83[deg]04'24'' W)
Bolton Field Airport, OH
    (Lat. 39[deg]54'04'' N, long. 83[deg]08'13'' W)
Fairfield County Airport, OH
    (Lat. 39[deg]45'20'' N, long. 82[deg]39'26'' W)

    That airspace extending upward from 700 feet above the surface
within a 7.5-mile radius of John Glenn Columbus International
Airport, and within 3.3 miles either side of the 094[deg] bearing
from John Glenn Columbus International Airport extending from the
7.5-mile radius to 12.1 miles east of the airport, and within a 7.1-
mile radius of Rickenbacker International Airport, and within 4
miles either side of the 045[deg] bearing from Rickenbacker
International Airport extending from the 7.1-mile radius to 12.6
miles northeast of the airport, and within a 6.5-mile radius of Ohio
State University Airport, and within a 7.4-mile radius of Bolton
Field Airport, and within a 7-mile radius of Fairfield County
Airport.

    Issued in Fort Worth, Texas, on July 28, 2021.
Martin A. Skinner,
Acting Manager, Operations Support Group, ATO Central Service Center.
[FR Doc. 2021-16390 Filed 8-2-21; 8:45 am]
BILLING CODE 4910-13-P


[Federal Register Volume 85, Number 105 (Monday, June 1, 2020)]
[Notices]
[Pages 33252-33255]
[FR Doc No: 2020-11657]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-88950; File No. SR-NYSE-2020-48]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
add Commentary .05 to Rule 7.35A

May 26, 2020.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that on May 26, 2020, New York Stock Exchange LLC (``NYSE'' 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 self-regulatory
organization. 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\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------

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

    The Exchange proposes to add Commentary .05 to Rule 7.35A to
provide that, for a temporary period that begins May 26, 2020, and ends
on the earlier of a full reopening of the Trading Floor facilities to
DMMs or after the Exchange closes on June 30, 2020, the Exchange would
(1) permit a DMM limited entry to the Trading Floor or (2) provide a
DMM remote access to Floor-based systems, for the purpose of effecting
a manual Trading Halt Auction for reopening a security following a
regulatory halt issued under Section 2 of the Listed Company Manual.
The proposed rule change is available on the Exchange's website 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange proposes to add Commentary .05 to Rule 7.35A to
provide that, for a temporary period that begins May 26, 2020, and ends
on the earlier of a full reopening of the Trading Floor facilities to
Designated Market Makers (``DMM'') or after the Exchange closes on June
30, 2020, the Exchange would (1) permit a DMM limited entry to the
Trading Floor or (2) provide a DMM remote access to Floor-based
systems, for the purpose of effecting a manual Trading Halt Auction for
reopening a security following a regulatory halt issued under Section 2
of the Listed Company Manual.
Background
    On March 18, 2020, the CEO of the Exchange made a determination
under

Rule 7.1(c)(3) that, beginning March 23, 2020, the Trading Floor
facilities located at 11 Wall Street in New York City would close and
the Exchange would move, on a temporary basis, to fully electronic
trading.\4\ On May 14, 2020, the CEO of the Exchange made a
determination under Rule 7.31(c) to reopen the Trading Floor on a
limited basis on May 26, 2020 to a subset of Floor brokers.\5\
---------------------------------------------------------------------------

    \4\ The Exchange's current rules establish how the Exchange will
function fully-electronically. The CEO also closed the NYSE American
Options Trading Floor, which is located at the same 11 Wall Street
facilities, and the NYSE Arca Options Trading Floor, which is
located in San Francisco, CA. See Press Release, dated March 18,
2020, available here: https://ir.theice.com/press/press-releases/all-categories/2020/03-18-2020-204202110.
    \5\ See Securities Exchange Act Release No. 88933 (May 22, 2020)
(SR-NYSE-2020-47) (Notice of filing and immediate effectiveness of
proposed rule change).
---------------------------------------------------------------------------

    The Trading Floor facilities have been reopened to DMMs for only
limited circumstances, as described in Commentaries .02-.04 to Rule
7.35A. Commentary .02 to Rule 7.35A provides that:

    For a temporary period that begins on March 26, 2020 and ends on
the earlier of a full reopening of the Trading Floor facilities to
DMMs or after the Exchange closes on June 30, 2020, the Exchange
will permit a DMM limited entry to the Trading Floor to effect an
IPO Auction manually.

    Commentary .03 to Rule 7.35A provides that:

    For a temporary period that begins on April 2, 2020 and ends on
the earlier of a full reopening of the Trading Floor facilities to
DMMs or after the Exchange closes on June 30, 2020, the Exchange
will permit a DMM limited entry to the Trading Floor to effect
manually a Core Open Auction in connection with a listed company's
post-IPO public offering.

    Commentary .04 to Rule 7.35A provides that:

    For a temporary period that begins on April 17, 2020 and ends on
the earlier of a full reopening of the Trading Floor facilities to
DMMs or after the Exchange closes on June 30, 2020, the Exchange
will provide a DMM remote access to Floor-based systems for the sole
purpose of effecting a manual (1) IPO Auction, or (2) Core Open
Auction in connection with a listed company's post-IPO public
offering.

    The Exchange added these Commentaries because, while the Trading
Floor is temporarily closed to DMMs, DMMs cannot engage in a manual IPO
Auction or Core Open Auction for a post-IPO public offering and these
Commentaries allow for such Auctions to be conducted manually by a DMM
either on the Trading Floor or remotely.\6\
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release Nos. 88488 (March 26,
2020), 85 FR 18286 (April 1, 2020) (SR-NYSE-2020-23) (Notice of
filing and immediate effectiveness of proposed rule change to add
Commentary .02 to Rule 7.35A); 88546 (April 2, 2020) (SR-NYSE-2020-
28), 85 FR 19782 (April 8, 2020) (Notice of filing and immediate
effectiveness of proposed rule change to add Commentary .03 to Rule
7.35A); and 88705 (April 21, 2020), 85 FR 23413 (April 27, 2020)
(SR-NYSE-2020-35) (Notice of filing and immediate effectiveness of
proposed rule change to add Commentary .04).
---------------------------------------------------------------------------

Proposed Rule Change
    Rule 7.35A(c)(1)(E) provides that a DMM may not effect a Trading
Halt Auction electronically if it is a reopening following a regulatory
halt issued under Section 2 of the Listed Company Manual. Accordingly,
during the temporary period while the Trading Floor is temporarily
closed to DMMs, the Exchange has facilitated Trading Halt Auctions
pursuant to Rule 7.35C to reopen trading in a security following a
regulatory halt issued under Section 2 of the Listed Company Manual.
    When the Exchange facilitates such a Trading Halt Auction, the
Exchange determines an Auction Price based on the Indicative Match
Price for a security, which is bound by Auction Collars.\7\ The Auction
Reference Price for determining the Auction Collars is the most recent
consolidated last-sale eligible trade in a security on any market
during Core Trading Hours, and if none, the Official Closing Price from
the prior trading day for that security.\8\ Accordingly, an Exchange-
facilitated Auction will be conducted at a price that is no higher or
lower than the greater of $0.15 or 5% away from that Auction Reference
Price.\9\
---------------------------------------------------------------------------

    \7\ See Rule 7.35C(b)(2).
    \8\ Rule 7.35C(b)(1) provides that the Auction Reference Price
for a Trading Halt Auction is the same as the Imbalance Reference
Price determined under Rule 7.35A(e)(3). Pursuant to Rule
7.35A(e)(3), the Imbalance Reference Price for a Trading Halt
Auction is the Consolidated Last Sale Price, unless a pre-opening
indication has been published. Pursuant to Rule 7.35(a)(11)(A), the
term ``Consolidated Last Sale Price'' means the most recent
consolidated last-sale eligible trade in a security during Core
Trading Hours on that trading day, and if none, the Official Closing
Price from the prior trading day for that security.
    \9\ See Rule 7.35C(b)(3)(A)(ii).
---------------------------------------------------------------------------

    As noted above, during the temporary period while the Trading Floor
is closed, the Exchange has permitted limited reentry to the Trading
Floor for the purposes of effecting an IPO Auction and a post-IPO
public offering. The Exchange has also provided DMMs with remote access
to NYSE trading systems that are located on the Trading Floor so that a
DMM can manually effect such Auctions remotely. The Exchange proposes
to provide DMMs with limited entry to the Trading Floor or remote
access to NYSE trading systems so that a DMM may manually effect a
Trading Halt Auction to reopen a security following a regulatory halt
issued under Section 2 of the Listed Company Manual.
    To effect this change, the Exchange proposes to add Commentary .05
to Rule 7.35A to provide that:

    For a temporary period that begins May 26, 2020, and ends on the
earlier of a full reopening of the Trading Floor facilities to DMMs
or after the Exchange closes on June 30, 2020, the Exchange would
(1) permit a DMM limited entry to the Trading Floor or (2) provide a
DMM remote access to Floor-based systems, for the purpose of
effecting a manual Trading Halt Auction for reopening a security
following a regulatory halt issued under Section 2 of the Listed
Company Manual.

    The Exchange believes that providing DMMs with the ability to
conduct such Trading Halt Auctions manually would promote fair and
orderly reopening auctions following a regulatory halt because it would
allow such reopenings to be facilitated at a price that is consistent
with the buy and sell interest for such securities. As noted above, an
Exchange-facilitated Trading Halt Auction is bound by Auction Collars
that use an Auction Reference Price from before the regulatory halt.
Accordingly, an Exchange-facilitated Auction would allow for 5% of
price movement away from such reference price. To date, that has not
been an issue as the Exchange has been able to facilitate Trading Halt
Auctions to reopen a security following a regulatory halt issued under
Section 2 of the Listed Company Manual at Auction Prices that have been
consistent with the buy and sell interest of the security.
    However, if there has been significant change in price in a
security during the course of a regulatory halt, an Exchange-
facilitated Auction, which would be bound by the Auction Collars, would
be conducted at a price that is not consistent with the buy and sell
interest in the security. This result could be obviated by enabling the
DMMs to effect such Auctions manually, either on the Trading Floor or
remotely, pursuant to Rule 7.35A.
    If a DMM were to effect such Auctions manually pursuant to Rule
7.35A, the Auction Price would not be bound by Auction Collars and all
better-priced orders on the side of the imbalance would be satisfied in
the Auction.\10\ In addition, if a DMM were to manually effect such
Trading Halt Auctions, the

DMM would publish pre-opening indications pursuant to Rule 7.35A(d),
which would be in addition to the Auction Imbalance Information
available for such Trading Halt Auctions.
---------------------------------------------------------------------------

    \10\ See Rule 7.35A(g) (requiring the DMM to select an Auction
Price at which all better-priced orders on the Side of the Imbalance
can be satisfied).
---------------------------------------------------------------------------

    During this temporary period while the Trading Floor has been
closed due to precautionary measures to prevent the spread of COVID-19,
DMMs are available to conduct such Trading Halt Auctions manually,
either on the Trading Floor or remotely. Accordingly, this proposed
rule change could be implemented immediately.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\11\ in general, and furthers the objectives of Section 6(b)(5) of
the Act,\12\ 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, and to
remove impediments to and perfect the mechanism of a free and open
market and a national market system.
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78f(b).
    \12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    Directly related to social-distancing measures to reduce the spread
of COVID-19, the CEO of the Exchange made a determination under Rule
7.1(c)(3) that beginning March 23, 2020, the Trading Floor facilities
located at 11 Wall Street in New York City would close and the Exchange
would move, on a temporary basis, to fully electronic trading. On May
26, 2020, the Trading Floor reopened on a limited basis to a subset of
Floor brokers, but remains closed to DMMs except under limited
circumstances specified in Commentary .02 and .03 to Rule 7.35A.
    The Exchange believes that the proposed rule change would remove
impediments to and perfect the mechanism of a free and open market and
a national market system because it would promote fair and orderly
Trading Halt Auctions in connection with the reopening of trading
following a regulatory halt issued under Section 2 of the Listed
Company Manual. The Exchange believes that it would promote fair and
orderly markets to provide the DMM with mechanisms to facilitate such
Trading Halt Auctions manually because it would allow such Auctions to
be conducted consistent with the buy and sell interest in the security,
and not be bound by Auction Collars based on an Auction Reference Price
that may no longer reflect the price of the security to investors.
    The Exchange believes that providing DMMs with the option to either
come to the Trading Floor or use remote access to Floor-based trading
systems to manually effect a Trading Halt Auction to reopen a security
following a regulatory halt issued under Section 2 of the Listed
Company Manual would remove impediments to and perfect the mechanism of
a free and open market and a national market system because it would
provide flexibility to DMMs who may determine that travel to and entry
to the Trading Floor would not be advisable or possible during this
temporary period.
    The Exchange believes that, by clearly stating that this relief
will be in effect through the earlier of a full reopening of the
Trading Floor facilities to DMMs or the close of the Exchange on June
30, 2020, market participants will have advance notice that a Trading
Halt Auction for a reopening following a regulatory halt issued under
Section 2 of the Listed Company Manual may be effected manually by the
DMM during this period.

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change would
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed rule change is
not designed to address any competitive issues but rather is designed
to ensure fair and orderly Trading Halt Auctions for reopening a
security following a regulatory halt issued under Section 2 of the
Listed Company Manual during a temporary period when the Exchange
Trading Floor has been closed to DMMs in response to social-distancing
measures designed to reduce the spread of the COVID-19 virus.

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 Exchange has filed the proposed rule change pursuant to Section
19(b)(3)(A)(iii) of the Act \13\ and Rule 19b-4(f)(6) thereunder.\14\
Because the proposed rule change does not: (i) significantly affect the
protection of investors or the public interest; (ii) impose any
significant burden on competition; and (iii) become operative prior to
30 days from the date on which it was filed, 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 and Rule 19b-
4(f)(6)(iii) thereunder.\15\
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \14\ 17 CFR 240.19b-4(f)(6).
    \15\ Rule 19b-4(f)(6)(iii) requires the Exchange to give the
Commission written notice of the Exchange's 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 Commission has waived this
requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \16\ normally
does not become operative prior to 30 days after the date of the
filing. However, pursuant to Rule 19b4(f)(6)(iii),\17\ the Commission
may designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has
requested that the Commission waive the 30-day operative delay. In
support of this request, the Exchange has represented that the proposal
would provide the DMM with mechanisms to facilitate manually and to
conduct Trading Halt Auctions consistent with the buy and sell interest
in the security, and not be bound by Auction Collars based on an
Auction Reference Price that may no longer reflect the price of the
security to investors. Further, the Commission notes that the proposed
rule change would only be in effect only during a temporary period. For
these reasons, the Commission believes that waiving the 30-day
operative delay is consistent with the protection of investors and the
public interest, and designates the proposed rule change to be
operative upon filing with the Commission.\18\
---------------------------------------------------------------------------

    \16\ 17 CFR 240.19b-4(f)(6).
    \17\ 17 CFR 240.19b-4(f)(6)(iii).
    \18\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

    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.\19\ If the
Commission takes such action, the

Commission shall institute proceedings to determine whether the
proposed rule change should be approved or disapproved.
---------------------------------------------------------------------------

    \19\ 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------

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-NYSE-2020-48 on the subject line.

Paper comments:

     Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2020-48. 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 website (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 website 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. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-NYSE-2020-48 and should be submitted on
or before June 22, 2020.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
---------------------------------------------------------------------------

    \20\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-11657 Filed 5-29-20; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 28 (Thursday, February 10, 2011)]
[Notices]
[Pages 7598-7601]
[FR Doc No: 2011-2972]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63845; File No. SR-C2-2011-003]

Self-Regulatory Organizations; C2 Options Exchange, Incorporated;
Notice of Filing of a Proposed Rule Change Relating to Bylaw and
Related Rule Changes

February 4, 2011.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act'' or ``Exchange Act''),\1\ and Rule 19b-4 thereunder,\2\
notice is hereby given that on January 27, 2011, C2 Options Exchange,
Incorporated (``C2'') filed with the Securities and Exchange Commission
(``Commission'' or ``SEC'') the proposed rule change as described in
Items I and II below, which Items have been prepared by C2. 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.
---------------------------------------------------------------------------

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

    C2 proposes to (i) amend its Bylaws and rules to eliminate its
office of Vice Chairman of the Board, (ii) amend its Bylaws to provide
that the Board of Directors may establish an Advisory Board, and (iii)
amend its Bylaws to eliminate its Audit Committee.
    The text of the proposed amendments to C2's Bylaws and the proposed
amendments to C2's rules is available on C2's Web site at (http://www.c2exchange.com/Legal), at C2's Office of the Secretary, on the
Commission's Web site at (http://www.sec.gov), 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, C2 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. C2 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 the
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this proposed rule change is to eliminate the office
of C2 Vice Chairman of the Board, to allow for a C2 Advisory Board, and
to eliminate the C2 Audit Committee.
(a) Elimination of Office of Vice Chairman of the Board
    Based on the Exchange's experience since its registration as a
national securities exchange in December, 2009 and the launch of
trading on the Exchange in October, 2010, the Exchange believes that it
is no longer necessary to provide for an office of Vice Chairman of the
Board (which is an office held by one of the Exchange's Industry
Directors). It was originally contemplated that the Vice Chairman would
take a lead role in facilitating communication between C2 and its
Trading Permit Holders and in coordinating the activities of Trading
Permit Holder committees. The Exchange now believes that C2 management
is best able to take the lead role in this regard. The Exchange also
believes that it will continue to be able to obtain input from Trading
Permit Holders through, among other things, direct communication with
individual Trading Permit Holders and the ability to establish Trading
Permit Holder committees and an Advisory Board (as proposed by this
rule filing).
    The Exchange Bylaws will also continue to require that at least 30%
of the directors on the C2 Board of Directors must be Industry
Directors and that at least 20% of C2's directors must be
Representative Directors. Representative Directors are Industry
Directors nominated (or otherwise selected through a petition process)
by the Industry-Director Subcommittee of the C2 Nominating and
Governance Committee. The Industry-Director Subcommittee is composed of
all of the Industry Directors serving on the Nominating and Governance
Committee. C2 Trading Permit Holders may nominate alternative
Representative Director candidates to those nominated by the Industry
Director Subcommittee, in which case a Run-off Election is held in
which C2's Trading Permit Holders vote to determine which candidates
will be elected to the C2 Board of Directors to serve as Representative
Directors. Thus, the Exchange will continue to provide for the fair
representation of C2 Trading Permit Holders in the selection of
directors and the administration of the Exchange consistent with
Section 6(b)(3) of the Act.\3\
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f(b)(3).
---------------------------------------------------------------------------

    The specific proposed C2 Bylaw and rule changes related to the
elimination of the office of Vice Chairman of Board include the
following changes:
    Section 3.7 of the Bylaws, which describes the selection, the term,
and roles of the Vice Chairman, is proposed to be deleted. The current
roles of the Vice Chairman listed in Section 3.7 of the Bylaws (and how
those roles will be performed going forward) are (i) Presiding over
meetings of the Board of Directors in the event that the Chairman of
the Board is absent or unable to do so (which will be addressed by
Section 3.8(a) of the Bylaws to be re-numbered from Section 3.9(a),
which is proposed to be amended to eliminate references to the Vice
Chairman and which will continue to allow the Board to designate an
Acting Chairman of the Board in the absence or inability to act of the
Chairman, which could be the Lead Director or another director); (ii)
unless otherwise provided in the rules or by Board resolution,
appointing, subject to Board approval, the individuals to serve on
Trading Permit Holder committees (which will be addressed by Section
4.1(b) of the Bylaws, which is proposed to be amended to vest this
appointment authority, also subject to Board approval of such
appointments, in the Chief Executive Officer or his or her designee);
and (iii) exercising such other powers and performing such other duties
as are delegated to the Vice Chairman by the Board (which is not an
item that needs to be addressed since there are no such other powers of
duties that the Board has delegated to the Vice Chairman).
    Two additional current roles of the Vice Chairman are set forth in
Section 5.3 of the Bylaws, which is also proposed to be deleted. Those
roles are presiding at meetings of Trading Permit Holders and
coordinating the activities of all Trading Permit Holder committees.
The Exchange's expectation is that C2 management will perform these
functions.
    Section 2.3 of the Bylaws is proposed to be amended to delete the
Vice Chairman as one of the parties that can

call a special meeting of the stockholders. This Section will continue
to permit special meetings of the stockholders to be called by either
the Chairman of the Board or a majority of the Board.
    Section 3.9(b) of the Bylaws is proposed to be re-numbered as
Section 3.8(b) and to be amended to delete how the office of Vice
Chairman is filled in the event of a vacancy in that office.
    Section 3.12 of the Bylaws is proposed to be re-numbered as Section
3.11 and to be amended to delete the Vice Chairman as one of the
parties that can call a special meeting of the Board of Directors. This
Section will continue to permit special meetings of the Board to be
called by either the Chairman of the Board or the Secretary upon the
written request of any four directors.
    In a related change, Section 4.1(b) of the Bylaws is proposed to be
amended to vest the authority to remove a member of an Exchange
committee (i.e., a non-Board committee) in the Chief Executive Officer
or his or her designee, subject to the approval of the Board. This
authority was previously vested with the Board itself. The Exchange is
proposing to vest this authority with the Chief Executive Officer or
his or her designee in order to have consistency with the proposed
Exchange committee appointment authority which, as is described above,
is also proposed to be vested in the Chief Executive Officer or his or
her designee, subject to the approval of the Board.
    Section 4.2 of the Bylaws is proposed to be amended to delete the
Vice Chairman as one of the required members of the C2 Executive
Committee. Section 4.2 will continue to require that the Executive
Committee include the Chairman of the Board, the Chief Executive
Officer (if a director), the Lead Director (if any), at least one
Representative Director, and such other number of directors that the
Board deems appropriate, provided that in no event shall the number of
Non-Industry Directors constitute less than the number of Industry
Directors serving on the Executive Committee (excluding the Chief
Executive Officer from the calculation of Industry Directors for such
purpose).\4\
---------------------------------------------------------------------------

    \4\ C2's Executive Committee generally does not make a decision
unless there is a need for a C2 Board-level decision between C2
Board meetings due to the time sensitivity of the matter. In
addition, in situations when the Executive Committee does make a
decision between C2 Board meetings, the C2 Board is generally aware
ahead of time of the potential that the Executive Committee may need
to make the decision. The C2 Board is fully informed of any decision
made by the Executive Committee at its next meeting and can always
decide to review that decision and take a different action. C2's
affiliate Chicago Board Options Exchange, Incorporated (``CBOE'')
previously noted the foregoing to the Commission with respect to
CBOE's Executive Committee (see Footnote 87 of Exchange Act Release
No. 62158 (May 24, 2010), 75 FR 30082 (May 28, 2010) (SR-CBOE-2008-
88)) and the same is true with respect to C2's Executive Committee.
---------------------------------------------------------------------------

    Section 5.1 of the Bylaws is proposed to be amended to delete the
Vice Chairman as one of the required officers of the Exchange.
    The title of Chapter XVI of the Exchange's rules is proposed to be
shortened from ``Summary Suspension by Chairman of the Board or Vice
Chairman of the Board'' to ``Summary Suspension'' in order to eliminate
the reference to the Vice Chairman. The text of Chapter XVI is not
proposed to be revised and would continue to incorporate by reference
the summary suspension rules contained in Chapter XVI of the CBOE rules
as they may be in effect from time to time.
(b) Addition of Advisory Board Provision
    The Exchange proposes to provide in new proposed Section 6.1 of the
Bylaws that the Board of Directors may establish an Advisory Board
which shall advise the Office of the Chairman regarding matters of
interest to Trading Permit Holders. The Exchange believes that the
ability to establish such a body is beneficial in that it allows the
Exchange to establish an additional vehicle for Exchange management to
receive advice from the perspective of Trading Permit Holders and
regarding matters that impact Trading Permit Holders
    Under proposed Section 6.1 of the Bylaws, it is proposed that the
Board of Directors shall determine the number of members of an Advisory
Board, that the Chief Executive Officer or his or her designee shall
serve as the Chairman of an Advisory Board, and that the C2 Nominating
and Governance Committee shall recommend the members of an Advisory
Board for approval by the Board of Directors.
    The Advisory Board would be completely advisory in nature and not
be vested with any Exchange decision-making authority or other
authority to act on behalf of the Exchange. Although proposed Section
6.1 of the Bylaws provides the Board of Directors with the discretion
of whether or not to put in place an Advisory Board, it is the current
intention of the Board of Directors to establish an Advisory Board.
(c) Elimination of Exchange Audit Committee
    The Exchange proposes to eliminate its Audit Committee because its
functions are duplicative of the functions of the Audit Committee of
its parent company, CBOE Holdings, Inc. (``CBOE Holdings'').
    Under its charter, the CBOE Holdings Audit Committee has broad
authority to assist the CBOE Holdings Board of Directors in discharging
its responsibilities relating to, among other things, (i) the
qualifications, engagement, and oversight of CBOE Holdings' independent
auditor, (ii) CBOE Holdings' financial statements and disclosure
matters, (iii) CBOE Holdings' internal audit function and internal
controls, and (iv) CBOE Holdings' oversight and risk management,
including compliance with legal and regulatory requirements. Because
CBOE Holdings' financial statements are prepared on a consolidated
basis that includes the financial results of CBOE Holdings'
subsidiaries, including C2, the CBOE Holdings Audit Committee's purview
necessarily includes C2. The CBOE Holdings Audit Committee is composed
of at least three CBOE Holdings directors, all of whom must be
independent within the meaning given to that term in the CBOE Holdings
Bylaws and Corporate Governance Guidelines and Rule 10A-3 under the
Act.\5\ All CBOE Holdings Audit Committee members must be financially
literate (or become financially literate within a reasonable period of
time after appointment to the Committee), and at least one member of
the Committee must be an ``audit committee financial expert'' as
defined by the Commission.
---------------------------------------------------------------------------

    \5\ 17 CFR 240.10A-3.
---------------------------------------------------------------------------

    By contrast, the C2 Audit Committee has a more limited role,
focused solely on C2. Under its charter, the primary functions of the
C2 Audit Committee are focused on (i) C2's financial statements and
disclosure matters and (ii) C2's oversight and risk management,
including compliance with legal and regulatory requirements, in each
case, only to the extent required in connection with C2's discharge of
its obligations as a self-regulatory organization. However, to the
extent that the C2 Audit Committee reviews financial statements and
disclosure matters, its activities are duplicative of the activities of
the CBOE Holdings Audit Committee, which is also charged with review of
financial statements and disclosure matters. Similarly, the CBOE
Holdings Audit Committee has general responsibility for oversight and
risk management, including compliance with legal and regulatory
requirements, for CBOE Holdings and all of its subsidiaries, including
C2. Thus, the

responsibilities of the C2 Audit Committee are fully duplicated by the
responsibilities of the CBOE Holdings Audit Committee. Accordingly, C2
is proposing to delete Section 4.3 of the C2 Bylaws which provides for
the C2 Audit Committee and to delete a reference to the C2 Audit
Committee in Section 4.1(a) of the C2 Bylaws (which lists the required
C2 Board committees).
    Although the CBOE Holdings Audit Committee has and will continue to
have overall responsibilities with respect to the internal audit
function, the C2 Board of Directors will still maintain its own
independent oversight over the internal audit function with respect to
C2 regulatory functions through the C2 Regulatory Oversight Committee.
Specifically, upon elimination of the C2 Audit Committee, the charter
of the C2 Regulatory Oversight Committee will be amended to provide
that the Regulatory Oversight Committee will review all internal audits
relating to C2's regulatory functions and that the Regulatory Oversight
Committee will have the authority to review the internal audit plan
with respect to C2's regulatory functions and to request at any time
that C2's internal auditor conduct an audit relating to those
functions. These changes are in addition to the current C2 Regulatory
Oversight Committee charter provision which provides that the
Regulatory Oversight Committee shall meet regularly with C2's internal
auditor regarding regulatory functions and are consistent with the
Regulatory Oversight Committee's existing practice of reviewing
internal audits of C2's regulatory functions.
    C2 believes that its proposal to eliminate its Audit Committee is
substantially similar to prior actions by other securities exchanges
with parent company audit committees to eliminate their exchange-level
audit committees.\6\
---------------------------------------------------------------------------

    \6\ See, e.g., Exchange Act Release No. 60276 (July 9, 2009), 74
FR 34840 (July 17, 2009) (File No. NASDAQ-2009-042).
---------------------------------------------------------------------------

(d) Miscellaneous Non-Substantive Bylaw Changes
    In addition to the changes set forth above, the Exchange proposes
to make the following non-substantive changes to the Bylaws.
    First, the Exchange proposes to amend the title of the Bylaws from
``Amended and Restated Bylaws of C2 Options Exchange, Incorporated'' to
``Second Amended and Restated Bylaws of C2 Options Exchange,
Incorporated'' since the Exchange is making the Bylaw changes proposed
by this rule filing through as second amendment and restatement of its
Bylaws.
    Second, the Exchange is proposing to re-number various sections of
the Bylaws to eliminate gaps in the numbering of the Bylaw sections
resulting from the proposed deletion of certain of the Bylaw sections
as described above.
    Third, the Exchange proposes to make a clarifying change to Section
3.2 of the Bylaws to change a reference to the Industry-Director
Subcommittee of the Nominating and Governance Committee from
``committee'' to ``Subcommittee.''
    Fourth, the Exchange proposes to delete some out-dated provisions
from the Bylaws. Specifically, the Exchange proposes to delete a
paragraph of Section 3.2 of the Bylaws which describes the initial
election process for Representative Directors following the
commencement of trading on the Exchange and which has already been
completed. Similarly, the Exchange proposes to delete provisions in
Section 4.1 of the Bylaws and Section 4.4 of the Bylaws (to be re-
numbered from Section 4.5) regarding the initial appointment of the
Nominating and Governance Committee and the initial appointment of
other Board committees since these appointments have already occurred.
(e) Effectiveness of Changes
    The Exchange proposes to make effective the proposed Bylaw and rule
changes related to the elimination of the Vice Chairman of the Board
that are described in subsection (a)(1) of Item 3 of this rule filing
on the date of the annual election of C2 directors in 2011 (which is
anticipated to occur in May 2011). The Exchange proposes to make
effective these changes at that time because the current term of the
Vice Chairman expires on that date and this will permit the current
Vice Chairman to serve out his current term of office.
    The Exchange proposes to make effective all of the other changes
proposed by this rule filing at the time that the Commission approves
this rule filing. These changes include those relating to the addition
of an Advisory Board provision and to the elimination of the C2 Audit
Committee as well as the miscellaneous non-substantive Bylaw changes,
all of which are described in subsections (a)(2)-(a)(4) of Item 3 of
this rule filing.
2. Statutory Basis
    For the reasons set forth above, C2 believes that this filing is
consistent with Section 6(b) of the Act,\7\ in general, and furthers
the objectives of Section 6(b)(1) of the Act \8\ and Section 6(b)(5) of
the Act \9\ in particular, in that (i) it enables C2 to be so organized
as to have the capacity to be able to carry out the purposes of the Act
and to comply, and to enforce compliance by its Trading Permit Holders
and persons associated with its Trading Permit Holders, with the
provisions of the Act, the rules and regulations thereunder, and the
rules of C2 and (ii) to prevent fraudulent and manipulative acts and
practices, to promote just and equitable principles of trade, to remove
impediments to, and perfect the mechanism of, a free and open market
and, in general, to protect investors and the public interest.
Specifically, the proposed changes will streamline, make more
efficient, and improve C2's governance structure by eliminating the
position of Vice Chairman of the Board which C2 no longer believes is
necessary; by adding a Bylaw provision that the Board of Directors may
establish an Advisory Board, which C2 views as a useful vehicle that
the Board may utilize to receive input from the perspective of Trading
Permit Holders and with respect to matters of interest to Trading
Permit Holders; and by eliminating the C2 Audit Committee, which C2
believes is duplicative of the CBOE Holdings Audit Committee and which
change will allow C2 directors to focus their attention on matters
falling directly within the purview of the C2 Board of Directors.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(1).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    C2 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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory

organization consents, the Commission will:
    (A) By order approve or disapprove such proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

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-C2-2011-003 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-C2-2011-003. 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 No. SR-C2-2011-003 and should be
submitted on or before March 3, 2011.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Cathy H. Ahn,
Deputy Secretary.
[FR Doc. 2011-2972 Filed 2-9-11; 8:45 am]
BILLING CODE 8011-01-P