Daily Rules, Proposed Rules, and Notices of the Federal Government
The Exchange proposes to make technical, non-substantive clarifications to its Fees Schedule. The text of the proposed rule change is available on the Exchange's Web site (
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.
The Exchange proposes to make clarifying, non-substantive changes to its Fees Schedule in order to make it easier to comprehend for market participants. First, the Exchange proposes to begin referring to "straight, one-sided orders" as "simple orders". Investors generally refer to orders as either "simple" or "complex" and the terminology "straight, one-sided orders" is not as commonly-known. Since simple orders are straight, one-sided orders, the Exchange proposes to call "straight, one-sided orders" "simple orders" in order to make the Fees Schedule easier for investors to understand. The Exchange further proposes to clarify that such orders are not complex orders (to which a separate set of fees apply) by referring to simple orders as "simple, non-complex" orders.
Second, the Fees Schedule currently applies sets of fees for simple and complex transactions (with the exception of SPXPM) to "multiply-listed, equity and ETF options classes." While this is true, since SPXPM (as a singly-listed index options class) is neither a multiply-listed, equity or ETF options class, it reads slightly confusingly because there is no mention of index options classes. As such, the Exchange proposes to replace the term "multiply-listed, equity and ETF options classes" with "multiply-listed index, equity and ETF options classes" to clarify that the sets of fees apply to all index, equity and ETF options classes that are multiply-listed.
The Exchange believes the proposed rule change is consistent with the Act and the rules and regulations thereunder applicable to the Exchange and, in particular, the requirements of Section 6(b) of the Act.
C2 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.
The Exchange neither solicited nor received comments on the proposed rule change.
The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)
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:
* Use the Commission's Internet comment form (
* Send an email to
* Send paper comments in triplicate to Elizabeth M. Murphy, Secretary,