The purpose of the proposed rule change is to update the Exchange's fee schedules by deleting fees that are no longer applicable. Recently, the Exchange ceased operation of the technology used to operate XLE(r).6
At this time, XLE(r) is no longer available to accept orders and is no longer available to execute any transactions. Therefore, the Exchange proposes to delete all fees relating to XLE(r) from its fee schedule.2. Statutory Basis
The Exchange believes that its proposal to amend its schedule of fees is consistent with Section 6(b) of the Act7
in general, and furthers the objectives of Section 6(b)(4) of the Act8
in particular, in that it is an equitable allocation of reasonable fees and other charges among Exchange members. Deleting XLE(r)-related fees from the Exchange's fee schedule is necessary given that the Exchange has ceased operation of the technology used to operate XLE(r).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 notnecessary 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
No written comments were either solicited or received.III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action
The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act9
and paragraph (f)(2) of Rule 19b-410
thereunder. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate 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.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 e-mail email@example.com.Please include File Number SR-Phlx-2008-80 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 SR-Phlx-2008-80. 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, 100 F Street, NE., Washington, DC 20549, 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 SR-Phlx-2008-80 and should be submitted on or before December 29, 2008.
1117 CFR 200.30-3(a)(12).
Florence E. Harmon,