Self-Regulatory Organizations; Proposed Rule Changes: NYSE Arca, Inc.
Federal Register: February 10, 2010 (Volume 75, Number 27)
Notices
Page 6756-6758
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
DOCID:fr10fe10-139
SECURITIES AND EXCHANGE COMMISSION
Release No. 34-61482; File No. SR-NYSEArca-2010-06
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adding 75 Options
Classes to the Penny Pilot Program
February 3, 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 January 28, 2010, NYSE Arca, Inc. (``NYSE Arca'' or the
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the self-regulatory organization. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons.
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
-
Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change
The Exchange proposes to designate 75 options classes to be added to the Penny Pilot Program for Options (``Penny Pilot'' or ``Pilot'') on February 1, 2010. There are no changes to the rule text. A copy of this filing is available on the Exchange's Web site at http:// www.nyse.com, at the Exchange's principal office, at the Commission's
Public Reference Room and on the Commission's Web site at http:// www.sec.gov.
-
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,
Page 6757
set forth in Sections A, B, and C below, of the most significant parts of such statements.
-
Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change 1. Purpose
NYSE Arca proposes to identify the next 75 options classes to be added to the Penny Pilot effective February 1, 2010. The Exchange recently received approval to extend and expand the Pilot through
December 31, 2010.\3\ In that filing, the Exchange had proposed expanding the Pilot on a quarterly basis to add the next 75 most actively traded multiply listed options classes based on national average daily volume for the six months prior to selection, closing under $200 per share on the Expiration Friday prior to expansion, except that the month immediately preceding their addition to the Penny
Pilot will not be used for the purpose of the six month analysis.\4\
\3\ See Exchange Act Release No. 60711 (September 23, 2009), 74
FR 49419 (September 28, 2009) (order approving SR-NYSEArca-2009-44).
\4\ Index products would be included in the expansion if the underlying index level was under 200.
NYSE Arca proposes adding the following 75 options classes to the
Penny Pilot on February 1, 2010, based on national average daily volume from July 1, 2009 through December 31, 2009:
Nat'l ranking
Symbol
Company name
Nat'l ranking
Symbol
Company name
131
ABT
Abbott
192............... LEAP
Leap Wireless
Laboratories.
International
Inc. 169
AEM
Agnico-Eagle Mines 205............... LLY
Eli Lilly & Co.
Ltd. 151
AET
Aetna Inc......... 162............... LO
Lorillard Inc. 156
AFL
Aflac Inc......... 152............... LOW
Lowe's Cos Inc. 181
AKAM
Akamai
176............... M
Macy's Inc.
Technologies Inc. 178
AMAT
Applied Materials 155............... MCO
Moody's Corp.
Inc. 117
AMR
AMR Corp.......... 217............... MET
MetLife Inc. 166
ANF
Abercrombie &
187............... MMM
3M Co.
Fitch Co. 172
APC
Anadarko Petroleum 140............... MU
Micron Technology
Corp.
Inc. 209
ATVI
Activision
177............... NUE
Nucor Corp.
Blizzard Inc. 145
BBD
Banco Bradesco SA. 157............... OXY
Occidental
Petroleum Corp. 190
BCRX
BioCryst
158............... PARD
Poniard
Pharmaceuticals
Pharmaceuticals
Inc.
Inc. 218
BK
Bank of New York 150............... PEP
PepsiCo Inc/NC.
Mellon Corp/The. 194
BRCM
Broadcom Corp..... 141............... PM
Philip Morris
International
Inc. 184
BTU
Peabody Energy
185............... PNC
PNC Financial
Corp.
Services Group
Inc. 144
BX
Blackstone Group 216............... QID
ProShares
LP.
UltraShort QQQ. 200
CAL
Continental
149............... SHLD
Sears Holdings
Airlines Inc.
Corp. 211
CF
CF Industries
175............... SLM
SLM Corp.
Holdings Inc. 142
CMCSA
Comcast Corp...... 212............... SLW
Silver Wheaton
Corp. 203
CSX
CSX Corp.......... 215............... SQNM
Sequenom Inc. 143
CVS
CVS Caremark Corp. 153............... STEC
STEC Inc. 174
CX
Cemex SAB de CV... 219............... STX
Seagate
Technology. 183
DD
EI du Pont de
202............... SU
Suncor Energy
Nemours & Co.
Inc. 146
ERTS
Electronic Arts
207............... TCK
Teck Resources
Inc.
Ltd. 121
EWJ
iShares MSCI Japan 196............... TEVA
Teva
Index Fund.
Pharmaceutical
Industries Ltd. 186
FDX
FedEx Corp........ 135............... TLT
iShares Barclays 20+ Year
Treasury Bond
Fund. 118
FNM
Federal National 214............... TZA
Direxion Daily
Mortgage
Small Cap Bear
Association.
3X Shares. 182
FRE
Federal Home Loan 168............... UAUA
UAL Corp.
Mortgage Corp. 179
GILD
Gilead Sciences
154............... URE
ProShares Ultra
Inc.
Real Estate. 198
GLW
Corning Inc....... 180............... UTX
United
Technologies
Corp. 170
HBC
HSBC Holdings PLC. 204............... WFR
MEMC Electronic
Materials Inc. 197
HES
Hess Corp......... 115............... WFT
Weatherford
International
Ltd. 161
HL
Hecla Mining Co... 165............... WLP
WellPoint Inc. 193
HOG
Harley-Davidson
191............... XLB
Materials Select
Inc.
Sector SPDR
Fund. 206
HON
Honeywell
173............... XRX
Xerox Corp.
International Inc. 210
JOYG
Joy Global Inc.... 148............... XTO
XTO Energy Inc. 213
JWN
Nordstrom Inc..... 130............... YRCW
YRC Worldwide
Inc. 137
KFT
Kraft Foods Inc... .................. ............... .................
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with and furthers the objectives of Section 6(b)(5) of the Act, in that it is designed to promote just and equitable principles of trade, remove impediments to and perfect the mechanisms of a free and open market and a national market system and, in general, to protect investors and the public interest, by identifying the options classes to be added to the
Pilot in a manner consistent with prior approvals and filings.
-
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
Page 6758
necessary or appropriate in furtherance of the purposes of the Act.
-
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.
-
-
Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change is effective upon filing pursuant to
Section 19(b)(3)(A)(i) of the Exchange Act \5\ and Rule 19b-4(f)(1) thereunder,\6\ in that it constitutes a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the Exchange. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate the rule change if it appears to the Commission that the action is necessary or appropriate in the public interest, for the protection of investors, or would otherwise further the purposes of the
Act.
\5\ 15 U.S.C. 78s(b)(3)(A)(i).
\6\ 17 CFR 240.19b-4(f)(1).
-
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 rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2010-06 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-2010-06. This file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for Web viewing and printing in the Commission's Public Reference Room, 100 F Street,
NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at NYSE Arca's principal office and on its Web site at http://www.nyse.com. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to
File No. SR-NYSEArca-2010-06 and should be submitted on or before March 3, 2010.
For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.\7\
\7\ 17 CFR 200.30-3(a)(12).
Florence E. Harmon,
Deputy Secretary.
FR Doc. 2010-2953 Filed 2-9-10; 8:45 am
BILLING CODE 8011-01-P
