On November 2nd, the SEC provided notice of NASDAQ OMX PHLX's filing of a proposal adopting new Exchange Rule 1058 entitled "Transfer of Positions" to provide a process by which members and member organizations may transfer option positions in limited circumstances. Specifically, the Exchange would permit off-the-floor transfers of options listed on the books of member or member organization only if such transfer involves one or more of the following events: (i) the dissolution of a joint account in which the remaining member or member organization assumes the positions of the joint account; (ii) the dissolution of a corporation or partnership in which a former nominee of that corporation or partnership assumes the positions; (iii) positions transferred as part of a member or member organization's capital contribution to a new joint account, partnership, or corporation; (iv) the donation of positions to a not-for-profit corporation; (v) the transfer of positions to a minor under the Uniform Gifts to Minors Act; (vi) a merger or acquisition resulting in a continuity of ownership or management; or (vii) consolidation of accounts within a member or member organization. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of November 7. SEC Release No. 34-65666.