[Federal Register Volume 77, Number 123 (Tuesday, June 26, 2012)]
[Notices]
[Pages 38107-38108]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-15493]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-67224; File No. SR-BX-2012-040]
Self-Regulatory Organizations; NASDAQ OMX BX, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Making a
Clerical Correction to the Grandfathered Rules
June 20, 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 June 7, 2012, NASDAQ OMX BX, Inc. (``BX'' 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 the Grandfathered Rules. The text of
the proposed rule change is available at http://nasdaq.cchwallstreet.com, at the Exchange's principal office, 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 Exchange 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 Exchange 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
The Exchange proposes to make administrative changes and correct
inadvertent typographical errors to the Exhibit 5 to SR-BX-2012-036 \3\
(``2012-036 Exhibit 5'') so that the text properly reflects the changes
as intended in the purpose section of SR-BX-2012-036. SR-BX-2012-036
was filed for immediate effectiveness on May 14, 2012. The
administrative changes and typographical errors to 2012-036 Exhibit 5
are explained below:
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\3\ Securities Exchange Act Release No. 67009 (May 17, 2012), 77
FR 30566 (May 23, 2012) (SR-BX-2012-036).
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The Grandfathered BSE Rules
Chapter I-B ends in a comma. The comma is being deleted and a
period is being added. In Chapter XVIII--Conduct, Section 4, the
language ``provided in'' was added to the 2012-036 Exhibit 5, but it
should have been underlined to denote that it was new text. In
addition, a reference to BX Rules 9126, should read BX Rule 9126. As
proposed an ``s'' in the word Rules, is being deleted from the rule
text.
Chapter XXXIII, Section 7 had a single bracket (``['') denoting
that text was going to be removed before the word Article that should
not have been placed in the 2012-036 Exhibit 5. It was intended that
that word remain in the rule text. In Chapter XXXIV, Section 4, a
reference to BX Rule 9000 and a reference to BX Rule 9216 was added to
the rule text. However, in both places, BX should have been underlined
to denote that it was new text.
Grandfathered Boston Options Exchange Group LLC Rules
In Chapter 1, Section 1 (9), the word ``a'' was added as new text,
which as proposed will be deleted. In Chapter II, Section 1(c), the
language ``of the Boston Stock Exchange, Inc. (``Constitution'')'',
should have been removed, the opening bracket was added, to the 2012-
036 Exhibit 5, but the closing bracket was not added. The Exchange is
proposing to add the closing bracket to properly note what language
should have been deleted. Section 6 added the word Reserved to the Rule
text; however, it should have been underlined to denote that it was new
text.
[[Page 38108]]
In Chapter V, an extra closing bracket was added to the deletions
to 2012-036 Exhibit 5. The extra bracket will be removed to clarify
that the entire section will be deleted. In Chapter VI, Section 4, BX
Rules 9000 Series should have been underlined to denote new text. In
Chapter X, the Exchange added ``See also BX Rule 9216'' to the 2012-036
Exhibit 5. The Exchange now proposes to add that section reference to
the end of the sentence rather than in the middle of the sentence. In
addition, the following sentence, which follows that reference, should
begin with a capital ``T.'' Finally, where ``BX Rules 9000 Series'' was
added to the 2012-036 Exhibit 5, the word Series was not underlined to
denote that it was new text.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the provisions of Section 6 of the Act,\4\ in general, and with
Section 6(b)(5) of the Act,\5\ in particular, in that the proposal is
designed to promote just and equitable principles of trade, 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. The proposed rule change is consistent with these
provisions in that it will allow the Exchange to make administrative
changes and correct inadvertent typographical errors.
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\4\ 15 U.S.C. 78f.
\5\ 15 U.S.C. 78f(b)(5).
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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
This proposed rule change is filed pursuant to paragraph (A) of
section 19(b)(3) of the Exchange Act \6\ and Rule 19b-4(f)(6)
thereunder.\7\ This proposed rule change does not significantly affect
the protection of investors or the public interest, does not impose any
significant burden on competition, and, by its terms, does not become
operative for 30 days after the date of the filing, or such shorter
time as the Commission may designate if consistent with the protection
of investors and the public interest. 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.
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\6\ 15 U.S.C. 78s(b)(3)(A).
\7\ 17 CFR 240.19b-4(f)(6).
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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 protected]. Please include
File Number SR-BX-2012-040 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-BX-2012-040. 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
a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal offices 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-BX-2012-040, and should be
submitted on or before July 17, 2012.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\8\
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\8\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-15493 Filed 6-25-12; 8:45 am]
BILLING CODE 8011-01-P