On July 16th, the SEC designated September 4, 2012 as the date by which it will approve, disapprove, or initiate disapproval proceedings regarding the International Securities Exchange's proposed changes to the strike price intervals for its short term options program. The Commission notes that NASDAQ OMX PHLX has filed a similar, but not identical, proposal (see below) and seeks comment about the potential implementation of both the Phlx Proposal and the ISE's, including whether implementation of both proposals would impact liquidity or capacity. SEC Release No. 34-67447.