Self-Regulatory Organizations; Proposed Rule Changes: NYSE Amex LLC

Federal Register: May 11, 2010 (Volume 75, Number 90)

Notices

Page 26312-26313

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

DOCID:fr11my10-141

Page 26312

SECURITIES AND EXCHANGE COMMISSION

Release No. 34-62041; File No. SR-NYSEAmex-2010-42

Self-Regulatory Organizations; NYSE Amex LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adding 75 Options

Classes to the Penny Pilot Program

May 5, 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 April 28, 2010, NYSE Amex LLC (``NYSE Amex'' 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.

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

   The Exchange proposes to identify the next 75 options classes to be added to the Penny Pilot Program for Options (``Penny Pilot'' or

   ``Pilot'') on May 3, 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.

2. 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.

   1. Self-Regulatory Organization's Statement of the Purpose of, and

      Statutory Basis for, the Proposed Rule Change 1. Purpose

      NYSE Amex proposes to identify the next 75 options classes to be added to the Penny Pilot effective May 3, 2010. The Exchange recently filed 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. 61106 (December 3, 2009) FR 74- 65193 (December 9, 2009) (order approving SR-NYSE Amex 2009-74). The

      Commission notes that this proposed rule change was submitted pursuant to Section 19(b)(3)(A)(iii) of the Act and was, therefore, effective upon filing. The Commission does not approve proposed rule changes submitted pursuant to this section of the Act.

      \4\ Index products would be included in the expansion if the underlying index level was under 200.

      NYSE Amex proposes adding the following 75 options classes to the

      Penny Pilot on May 3, 2010, based on national average daily volume from

      October 1, 2009 through March 31, 2010:

      Nat'l ranking

      Symbol

      Security name

      Nat'l ranking

      Symbol

      Security name

      153............ XLV

      Health Care Select

      247........... JCP

      JC Penney Co Inc.

      Sector SPDR Fund. 155............ CIEN

      Ciena Corp.

      248........... ACL

      Alcon Inc. 157............ AMLN

      Amylin

      249........... STP

      Suntech Power

      Pharmaceuticals Inc.

      Holdings Co Ltd. 158............ CTIC

      Cell Therapeutics

      250........... TLB

      Talbots Inc.

      Inc. 159............ MDT

      Medtronic Inc.

      251........... SYMC

      Symantec Corp. 162............ TIVO

      TiVo Inc.

      253........... AMED

      Amedisys Inc. 163............ MNKD

      MannKind Corp.

      255........... TM

      Toyota Motor Corp. 171............ MDVN

      Medivation Inc.

      257........... HK

      Petrohawk Energy

      Corp. 176............ BRKB

      Berkshire Hathaway

      258........... ENER

      Energy Conversion

      Inc.

      Devices Inc. 178............ APOL

      Apollo Group Inc.

      259........... STT

      State Street Corp. 181............ BSX

      Boston Scientific

      260........... BHP

      BHP Billiton Ltd.

      Corp. 185............ XLY

      Consumer

      261........... NFLX

      NetFlix Inc.

      Discretionary Sel.

      Sec. SPDR Fund. 188............ CLF

      Cliffs Natural

      262........... LDK

      LDK Solar Co Ltd.

      Resources Inc. 190............ ZION

      Zions Bancorporation. 263........... SPG

      Simon Property

      Group Inc. 194............ IOC

      InterOil Corp.

      264........... TIF

      Tiffany & Co. 197............ ITMN

      InterMune Inc.

      265........... BUCY

      Bucyrus

      International Inc. 204............ GME

      GameStop Corp.

      266........... WAG

      Walgreen Co. 209............ XLK

      Technology Select

      268........... IP

      International Paper

      Sector SPDR Fund.

      Co. 210............ AKS

      AK Steel Holding

      271........... XME

      SPDR S&P Metals &

      Corp.

      Mining ETF. 212............ GRMN

      Garmin Ltd.

      272........... KGC

      Kinross Gold Corp. 213............ MRVL

      Marvell Technology

      273........... EP

      El Paso Corp.

      Group Ltd. 215............ XLP

      Consumer Staples

      274........... SEED

      Origin Agritech

      Select Sector SPDR

      Ltd.

      Fund. 216............ UNP

      Union Pacific Corp. 275........... WIN

      Windstream Corp. 220............ DTV

      DIRECTV.

      279........... DHI

      DR Horton Inc. 223............ WMB

      Williams Cos Inc/The. 280........... ADBE

      Adobe Systems Inc. 225............ MEE

      Massey Energy Co.

      281........... PCX

      Patriot Coal Corp. 227............ CELG

      Celgene Corp.

      282........... SPWRA

      SunPower Corp. 229............ GMCR

      Green Mountain Coffee 284........... LCC

      US Airways Group

      Roasters Inc.

      Inc. 231............ WDC

      Western Digital Corp. 285........... PRU

      Prudential

      Financial Inc. 234............ DAL

      Delta Air Lines Inc. 286........... LEN

      Lennar Corp. 235............ FXE

      CurrencyShares Euro 287........... EWT

      iShares MSCI Taiwan

      Trust.

      Index Fund.

      Page 26313

      237............ COST

      Costco Wholesale

      288........... KBH

      KB Home.

      Corp. 239............ MJN

      Mead Johnson

      289........... CREE

      Cree Inc.

      Nutrition Co. 240............ ALL

      Allstate Corp/The.

      290........... SIRI

      Sirius XM Radio

      Inc. 241............ SII

      Smith International 291........... MMR

      McMoRan Exploration

      Inc.

      Co. 242............ RTN

      Raytheon Co.

      292........... CENX

      Century Aluminum

      Co. 243............ DVN

      Devon Energy Corp.

      293........... GFI

      Gold Fields Ltd. 244............ MT

      ArcelorMittal.

      2. Statutory Basis

      The Exchange believes that 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.

   2. 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.

   3. 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.

3. 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).

4. 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-NYSEAmex-2010-42 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-NYSEAmex-2010-42. 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 NYSE Amex'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-NYSEAmex-2010-42 and should be submitted on or before June 1, 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. 2010-11134 Filed 5-10-10; 8:45 am

   BILLING CODE 8010-01-P