Joint Industry Plan: Filing and Immediate Effectiveness of Amendments to the National Market System Plan for the Selection and Reservation of Securities Symbols; Additions
Federal Register: January 2, 2009 (Volume 74, Number 1)
Notices
Page 132-133
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
DOCID:fr02ja09-56
SECURITIES AND EXCHANGE COMMISSION
Release No. 34-59162; File No. 4-533
Joint Industry Plan; Notice of Filing and Immediate Effectiveness of Amendments to the National Market System Plan for the Selection and
Reservation of Securities Symbols To Add New York Stock Exchange LLC,
NYSE Arca, Inc., NYSE Alternext US LLC and Chicago Board Options
Exchange, Incorporated as Parties Thereto
December 24, 2008.
Pursuant to Section 11A(a)(3) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 608 thereunder,\2\ notice is hereby given that on December 22, 2008, (i) New York Stock Exchange LLC (``NYSE''),
NYSE Arca, Inc. (``NYSE Arca''), and NYSE Alternext U.S. LLC (``NYSE
Alternext'' and, together with NYSE and NYSE Arca, the ``NYSE Group
Exchanges'') and (ii) Chicago Board Options Exchange, Incorporated
(``CBOE'') filed with the Securities and Exchange Commission
(``Commission'') amendments to the National Market System Plan for the
Selection and Reservation of Securities Symbols (``Symbology Plan'' or
``Plan'').\3\ The amendments propose to add the NYSE Group Exchanges and CBOE as parties to the Symbology Plan. The Commission is publishing this notice to solicit comments on the proposed amendment from interested persons.
\1\ 15 U.S.C. 78k-1(a)(3).
\2\ 17 CFR 242.608.
\3\ On November 6, 2008, the Commission approved the Symbology
Plan that was originally proposed by the Chicago Stock Exchange,
Inc. (``CHX''), The Nasdaq Stock Market, Inc. (``Nasdaq''), National
Association of Securities Dealers, Inc. (``NASD'') (n/k/a Financial
Industry Regulatory Authority, Inc. (``FINRA'')),\4\ National Stock
Exchange, Inc. (``NSX''), and Philadelphia Stock Exchange, Inc.
(``Phlx''), subject to certain changes. See Securities Exchange Act
Release No. 58904, 73 FR 67218 (November 13, 2008) (File No. 4-533).
-
Description and Purpose of the Amendment
The current parties to the Symbology Plan are CHX, FINRA, the
International Securities Exchange, LLC (``ISE''),\4\ Nasdaq, NSX and
Phlx. The proposed amendments to the Symbology Plan would add the NYSE
Group Exchanges and CBOE parties to the Symbology Plan. A self- regulatory organization (``SRO'') may become a party to the Symbology
Plan if it satisfies the
Page 133
requirements of Section I(c) of the Plan. Specifically, an SRO may become a party to the Symbology Plan if: (i) It maintains a market for the listing or trading of Plan Securities,\5\ in accordance with rules approved by the Commission, which securities are identified by one, two, or three character symbols, on the one hand, or four or five character symbols, on the other hand, in each case prior to any suffix or special conditional identifier; (ii) it signs a current copy of the
Plan; and (iii) it pays to the other parties a proportionate share of the aggregate development costs, based upon the number of symbols reserved by the new party during the first twelve (12) months of such party's membership.\6\
\4\ On November 18, 2008, ISE filed with the Commission an amendment to the Plan to add ISE as a member to the Plan. See
Securities Exchange Act Release No. 59024 (November 26, 2008), 73 FR 74538 (December 8, 2008) (File No. 4-533).
\5\ ``Plan Securities'' are defined in the Symbology Plan as securities that: (i) Are NMS securities as currently defined in Rule 600(a)(46) under the Act; and (ii) any other equity securities quoted, traded and/or trade reported through an SRO facility.
\6\ Sections I(c) and IV(a) of the Plan.
The NYSE Group Exchanges and CBOE have submitted a signed copy of the Symbology Plan to the Commission in accordance with the requirement set forth in the Symbology Plan regarding new parties to the plan.
-
Effectiveness of the Proposed Symbology Plan Amendment
The foregoing proposed Symbology Plan amendments have become effective pursuant to Rule 608(b)(3)(iii) \7\ because it involves solely technical or ministerial matters. At any time within sixty days of the filing of these amendments, the Commission may summarily abrogate the amendment and require that it be refiled pursuant to paragraph (b)(1) of Rule 608,\8\ if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors or the maintenance of fair and orderly markets, to remove impediments to, and perfect the mechanisms of, a national market system or otherwise in furtherance of the purposes of the Act.
\7\ 17 CFR 242.608(b)(3)(iii).
\8\ 17 CFR 242.608(b)(1).
-
Solicitation of Comments
Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether these amendments are consistent with the Act. Comments may be submitted by any of the following methods:
Electronic Comments
Use the Commission's Internet comment form (http:// www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number 4-533 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 4-533. 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 inspection and copying in the
Commission's Public Reference Room, on official business days between the hours of 10 a.m. and 3 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 4-533 and should be submitted on or before January 23, 2009.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\9\
\9\ 17 CFR 200.30-3(a)(12).
Florence E. Harmon,
Acting Secretary.
FR Doc. E8-31205 Filed 12-31-08; 8:45 am
BILLING CODE 8011-01-P
