
[Federal Register Volume 77, Number 140 (Friday, July 20, 2012)]
[Notices]
[Pages 42789-42790]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-17714]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-67447; File No. SR-ISE-2012-33]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Designation of a Longer Period for Commission Action on 
Proposed Rule Change Regarding Strike Price Intervals for Certain 
Option Classes

July 16, 2012.
    On May 21, 2012, the International Securities Exchange, LLC 
(``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to modify the Short Term Option Series Program 
(``STOS Program''). The proposed rule change was published for comment 
in the Federal Register on June 6, 2012.\3\ The Commission received one 
comment letter on this proposal.\4\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 67083 (May 31, 2012), 77 
FR 33543.
    \4\ See letter to Elizabeth M. Murphy, Secretary, Commission, 
from Jenny L. Klebes, Senior Attorney, Legal Division, Chicago Board 
Options Exchange, Incorporated, dated June 27, 2012.
---------------------------------------------------------------------------

    Section 19(b)(2) of the Act \5\ provides that within 45 days of the 
publication of notice of the filing of a proposed rule change, or 
within such longer period up to 90 days as the Commission may designate 
if it finds such longer period to be appropriate and publishes its 
reasons for so finding or as to which the self-regulatory organization 
consents, the Commission shall either approve the proposed rule change, 
disapprove the proposed rule change, or institute proceedings to 
determine whether the proposed rule change should be disapproved. The 
45th day for this filing is July 21, 2012. The Commission is extending 
this 45-day time period.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

    The Commission finds it appropriate to designate a longer period 
within which to take action on the proposed rule change so that it has 
sufficient time to consider this proposed rule change, which would 
modify the strike price

[[Page 42790]]

intervals for certain option classes that are in the STOS Program; the 
comment letter that has been submitted in connection with this proposed 
rule change; and any response to the comment letter submitted by the 
Exchange. In addition, another exchange has recently submitted a 
similar, but not identical, proposal to modify the strike price 
intervals of its short terms option series program,\6\ and the 
Commission is seeking comment about the potential implementation of 
both the Phlx Proposal and the instant proposal, including whether 
implementation of both proposals would impact liquidity or capacity.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 67446 (July 16, 
2012) (SR-Phlx-2012-78) (the ``Phlx Proposal'').
---------------------------------------------------------------------------

    Accordingly, the Commission, pursuant to Section 19(b)(2) of the 
Act,\7\ designates September 4, 2012 as the date by which the 
Commission should either approve or disapprove, or institute 
proceedings to determine whether to disapprove, the proposed rule 
change (File No. SR-ISE-2012-33).
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(31).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-17714 Filed 7-19-12; 8:45 am]
BILLING CODE 8011-01-P


