Joint Industry Plan; Order Approving Amendment No. 16 to the Plan for the Purpose of Creating and Operating an Intermarket Option Linkage Relating to the Definition of Firm Customer Quote Size and Limitations on Sending Secondary P/A Orders, 66477-66478 [E5-6054]

Download as PDF Federal Register / Vol. 70, No. 211 / Wednesday, November 2, 2005 / Notices adversely affected by this Order may, submit an answer to this Order, and may request a hearing on this Order, within twenty (20) days of the date of this Order. Where good cause is shown, consideration will be given to extending the time to request a hearing. A request for extension of time in which to submit an answer must be made in writing to the Director, Office of Nuclear Material Safety and Safeguards, and the Director, Office of Enforcement, U.S. Nuclear Regulatory Commission, Washington, DC 20555, and include a statement of good cause for the extension. The answer may consent to this Order. Unless the answer consents to this Order, the answer shall, in writing and under oath or affirmation, specifically set forth the matters of fact and law on which the licensee or other person adversely affected relies and the reasons as to why the Order should not have been issued. Any answer or request for a hearing shall be submitted to the Secretary, Office of the Secretary of the Commission, U.S. Nuclear Regulatory Commission, Attn: Rulemakings and Adjudications Staff, Washington, DC 20555. Copies also shall be sent to the Director, Office of Nuclear Material Safety and Safeguards, U.S. Nuclear Regulatory Commission, Washington, DC 20555; to the Director, Office of Enforcement at the same address; to the Assistant General Counsel for Materials Litigation and Enforcement at the same address, to the Regional Administrator for NRC Region IV at 611 Ryan Plaza Drive, Suite 400, Arlington, TX 76011– 4005; and to the licensee if the answer or hearing request is by a person other than the licensee. Because of possible disruptions in delivery of mail to United States Government offices, it is requested that requests for a hearing be transmitted to the Secretary of the Commission either by means of facsimile transmission to 301–415–1101 or by e-mail to hearingdocket@nrc.gov and also to the Office of General Counsel either by means of facsimile transmission to 301–415–3725 or by email to OGCMailCenter@nrc.gov. If a person other than Entergy requests a hearing, that person shall set forth with particularity the manner in which his/ her interest is adversely affected by this Order and shall address the criteria set forth in 10 CFR 2.714(d). If a hearing is requested by Entergy or a person whose interest is adversely affected, the Commission will issue an Order designating the time and place of any hearing. If a hearing is held, the issue to be considered at such hearing shall be whether this Order should be sustained. VerDate Aug<31>2005 23:15 Nov 01, 2005 Jkt 208001 Pursuant to 10 CFR 2.202(c)(2)(I), Entergy may, in addition to demanding a hearing at the time the answer is filed or sooner, move the presiding officer to set aside the immediate effectiveness of the Order on the grounds that the Order, including the need for immediate effectiveness, is not based on adequate evidence but on mere suspicion, unfounded allegations or error. In the absence of any request for hearing or written approval of an extension of time in which to request a hearing, the provisions specified in Section III above shall be final twenty (20) days from the date of this Order without further order or proceedings. If an extension of time for requesting a hearing has been approved, the provisions specified in Section III shall be final when the extension expires, if a hearing request has not been received. An Answer or a Request for Hearing Shall Not Stay the Immediate Effectiveness of This Order. For the Nuclear Regulatory Commission. Dated this 26th day of October 2005. Jack R. Strosnider, Director, Office of Nuclear Material Safety and Safeguards. [FR Doc. E5–6055 Filed 11–1–05; 8:45 am] BILLING CODE 7590–01–P RAILROAD RETIREMENT BOARD Agency Forms Submitted for OMB Review SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35), the Railroad Retirement Board (RRB) has submitted the following proposal(s) for the collection of information to the Office of Management and Budget for review and approval. Summary of Proposal(s) (1) Collection title: Application and Claim for RUIA Benefits Due at Death. (2) Form(s) submitted: UI–63. (3) OMB Number: 3220–0055. (4) Expiration date of current OMB clearance: 12/31/2005. (5) Type of request: Extension of a currently approved collection. (6) Respondents: Individuals or households. (7) Estimated annual number of respondents: 200. (8) Total annual responses: 200. (9) Total annual reporting hours: 23. (10) Collection description: The collection obtains the information needed by the Railroad Retirement Board to pay, under section 2(g) of the RUIA, benefits under that Act accrued, but not paid because of the death of the employee. PO 00000 Frm 00131 Fmt 4703 Sfmt 4703 66477 Additional Information or Comments: Copies of the forms and supporting documents can be obtained from Charles Mierzwa, the agency clearance officer (312–751–3363) or Charles.Mierzwa@rrb.gov . Comments regarding the information collection should be addressed to Ronald J. Hodapp, Railroad Retirement Board, 844 North Rush Street, Chicago, Illinois, 60611–2092 or Ronald.Hodapp@rrb.gov and to the OMB Desk Officer for the RRB, at the Office of Management and Budget, Room 10230, New Executive Office Building, Washington, DC 20503. Charles Mierzwa, Clearance Officer. [FR Doc. 05–21821 Filed 11–1–05; 8:45 am] BILLING CODE 7905–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–52656; File No. 4–429] Joint Industry Plan; Order Approving Amendment No. 16 to the Plan for the Purpose of Creating and Operating an Intermarket Option Linkage Relating to the Definition of Firm Customer Quote Size and Limitations on Sending Secondary P/A Orders October 24, 2005. I. Introduction On April 13, 2005, April 26, 2005, April 26, 2005, April 27, 2005, May 27, 2005 and June 2, 2005, the International Securities Exchange, Inc. (‘‘ISE’’), American Stock Exchange LLC (‘‘Amex’’), Chicago Board Options Exchange, Incorporated (‘‘CBOE’’), Pacific Exchange, Inc. (‘‘PCX’’), Boston Stock Exchange, Inc. (‘‘BSE’’), and Philadelphia Stock Exchange, Inc. (‘‘Phlx’’) (collectively, the ‘‘Participants’’) respectively submitted to the Securities and Exchange Commission (‘‘Commission’’) an amendment (‘‘Joint Amendment No. 16’’) to the Plan for the Purpose of Creating and Operating an Intermarket Option Linkage(the ‘‘Linkage Plan’’). 1 1 On July 28, 2000, the Commission approved a national market system plan for the purpose of creating and operating an intermarket options market linkage proposed by the Amex, CBOE, and ISE. See Securities Exchange Act Release No. 43086 (July 28, 2000), 65 FR 48023 (August 4, 2000). Subsequently, upon separate requests by the Phlx, PCX, and BSE, the Commission issued orders to permit these exchanges to participate in the Linkage Plan. See Securities Exchange Act Release Nos. 43573 (November 16, 2000), 65 FR 70850 E:\FR\FM\02NON1.SGM Continued 02NON1 66478 Federal Register / Vol. 70, No. 211 / Wednesday, November 2, 2005 / Notices The Participants are proposing: (i) To amend the definition of ‘‘Firm Customer Quote Size’’ (‘‘FCQS’’) 2 to provide automatic executions for Principal Acting as Agent Orders (‘‘P/A Orders’’) 3 sent via the intermarket option linkage (‘‘Linkage’’) up to the full size of a Participant’s disseminated quotation; and (ii) to eliminate a 15-second waiting period between the sending of P/A Orders. The proposed amendment to the Linkage Plan was published in the Federal Register on September 16, 2005.4 No comments were received on the proposed amendment. This order approves the proposed amendment to the Linkage Plan. II. Description and Purpose of the Proposed Amendment The purpose of Joint Amendment No. 16 is to modify the Linkage Plan in two respects. First, the definition of FCQS will be amended to reflect that all Participants disseminate dynamic option quotes with size. Specifically, Participants propose to amend the Linkage Plan so that the FCQS will be calculated based on the size of the disseminated quotation of the Participant receiving the P/A Order. Secondly, Joint Amendment No. 16 will eliminate a 15-second waiting period for sending a subsequent P/A Order currently provided for in the Linkage Plan. Finally, Joint Amendment No. 16 will clarify the conditions under which automatic execution is required in response to P/A Orders. III. Discussion After careful consideration, the Commission finds that the proposed amendment to the Linkage Plan is consistent with the requirements of the Securities Exchange Act of 1934 (‘‘Act’’) and the rules and regulations thereunder. Specifically, the Commission finds that the proposed amendment to the Linkage Plan is consistent with Section 11A of the Act 5 and Rule 608 under the Act,6 in that the proposed amendment to calculate FCQS on the basis of the size of the Participant receiving the P/A Order is appropriate and should facilitate the use of the Linkage for the Participants. This change, coupled with the proposed elimination of the 15-second waiting period for sending a subsequent P/A (November 28, 2000), 43574 (November 16, 2000), 65 FR 70851 (November 28, 2000) and 49198 (February 5, 2004), 69 FR 7029 (February 12, 2004). 2 See Section 2(11) of the Linkage Plan. 3 See Section 2(16)(a) of the Linkage Plan. 4 See Securities Exchange Act Release No. 52401 (September 9, 2005), 70 FR 54781. 5 15 U.S.C. 78k–l. 6 17 CFR 242.608. VerDate Aug<31>2005 23:15 Nov 01, 2005 Jkt 208001 Order should facilitate investors’ intermarket access to superior prices disseminated by Participants other than the one to which the order was initially sent. IV. Conclusion It is therefore ordered, pursuant to Section 11A of the Act 7 and Rule 608 thereunder,8 that the proposed Joint Amendment No. 16 is hereby approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Jonathan G. Katz, Secretary. [FR Doc. E5–6054 Filed 11–1–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–52684; File No. SR–MSRB– 2005–15] Self-Regulatory Organizations; Municipal Securities Rulemaking Board; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Revisions to the Series 9/10 Examination Program October 26, 2005. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 and Rule 19b–4 thereunder,2 notice is hereby given that on October 18, 2005, the Municipal Securities Rulemaking Board (‘‘MSRB’’ or ‘‘Board’’), filed with the Securities and Exchange Commission (‘‘Commission’’ or ‘‘SEC’’) the proposed rule change as described in Items I, II and III below, which Items have been prepared by the MSRB. The MSRB has designated the proposed rule change as constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule of the self-regulatory organization pursuant to Section 19(b)(3)(A)(i) of the Act,3 and Rule 19b– 4(f)(1) thereunder,4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 7 15 U.S.C. 78k–l. CFR 242.608. 9 17 CFR 200.30–3(a)(29). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(i). 4 17 CFR 240.19b–4(f)(1). 8 17 PO 00000 Frm 00132 Fmt 4703 Sfmt 4703 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The MSRB is filing with the Commission revisions to the study outline and selection specifications for the Limited Principal—General Securities Sales Supervisor (Series 9/10) examination program.5 The proposed revisions update the material to reflect changes to the laws, rules, and regulations covered by the examination, as well as modify the content of the examination program to track more closely the functional workflow of a Series 9/10 limited principal. The MSRB is not proposing any textual changes to the rules of the MSRB. The revised study outline is available on the MSRB’s Web site (https:// www.msrb.org), at the MSRB’s principal office, and at the Commission’s Public Reference Room. However, the MSRB has omitted the Series 9/10 selection specifications from this filing and has submitted the specifications under separate cover to the Commission with a request for confidential treatment pursuant to Rule 24b–2 under the Act.6 II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the MSRB 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 MSRB has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Section 15B(b)(2)(A) of the Act 7 authorizes the MSRB to prescribe standards of training, experience, competence, and such other 5 The MSRB is also proposing corresponding revisions to the Series 9/10 question bank, but based upon instructions from the Commission staff, the MSRB is submitting SR–MSRB–2005–15 for immediate effectiveness pursuant to Section 19(b)(3)(A)(i) of the Act and Rule 19b–4(f)(1) thereunder, and is not filing the question bank for Commission review. See letter to Diane G. Klinke, General Counsel, MSRB, from Belinda Blaine, Associate Director, Division of Market Regulation, SEC, dated July 24, 2000. The question bank is available for Commission review. 6 17 CFR 240.24b–2. 7 15 U.S.C. 78o–4(b)(2)(A). E:\FR\FM\02NON1.SGM 02NON1

Agencies

[Federal Register Volume 70, Number 211 (Wednesday, November 2, 2005)]
[Notices]
[Pages 66477-66478]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-6054]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-52656; File No. 4-429]


Joint Industry Plan; Order Approving Amendment No. 16 to the Plan 
for the Purpose of Creating and Operating an Intermarket Option Linkage 
Relating to the Definition of Firm Customer Quote Size and Limitations 
on Sending Secondary P/A Orders

October 24, 2005.

I. Introduction

    On April 13, 2005, April 26, 2005, April 26, 2005, April 27, 2005, 
May 27, 2005 and June 2, 2005, the International Securities Exchange, 
Inc. (``ISE''), American Stock Exchange LLC (``Amex''), Chicago Board 
Options Exchange, Incorporated (``CBOE''), Pacific Exchange, Inc. 
(``PCX''), Boston Stock Exchange, Inc. (``BSE''), and Philadelphia 
Stock Exchange, Inc. (``Phlx'') (collectively, the ``Participants'') 
respectively submitted to the Securities and Exchange Commission 
(``Commission'') an amendment (``Joint Amendment No. 16'') to the Plan 
for the Purpose of Creating and Operating an Intermarket Option Linkage 
(the ``Linkage Plan'').\1\

[[Page 66478]]

The Participants are proposing: (i) To amend the definition of ``Firm 
Customer Quote Size'' (``FCQS'') \2\ to provide automatic executions 
for Principal Acting as Agent Orders (``P/A Orders'') \3\ sent via the 
intermarket option linkage (``Linkage'') up to the full size of a 
Participant's disseminated quotation; and (ii) to eliminate a 15-second 
waiting period between the sending of P/A Orders. The proposed 
amendment to the Linkage Plan was published in the Federal Register on 
September 16, 2005.\4\ No comments were received on the proposed 
amendment. This order approves the proposed amendment to the Linkage 
Plan.
---------------------------------------------------------------------------

    \1\ On July 28, 2000, the Commission approved a national market 
system plan for the purpose of creating and operating an intermarket 
options market linkage proposed by the Amex, CBOE, and ISE. See 
Securities Exchange Act Release No. 43086 (July 28, 2000), 65 FR 
48023 (August 4, 2000). Subsequently, upon separate requests by the 
Phlx, PCX, and BSE, the Commission issued orders to permit these 
exchanges to participate in the Linkage Plan. See Securities 
Exchange Act Release Nos. 43573 (November 16, 2000), 65 FR 70850 
(November 28, 2000), 43574 (November 16, 2000), 65 FR 70851 
(November 28, 2000) and 49198 (February 5, 2004), 69 FR 7029 
(February 12, 2004).
    \2\ See Section 2(11) of the Linkage Plan.
    \3\ See Section 2(16)(a) of the Linkage Plan.
    \4\ See Securities Exchange Act Release No. 52401 (September 9, 
2005), 70 FR 54781.
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II. Description and Purpose of the Proposed Amendment

    The purpose of Joint Amendment No. 16 is to modify the Linkage Plan 
in two respects. First, the definition of FCQS will be amended to 
reflect that all Participants disseminate dynamic option quotes with 
size. Specifically, Participants propose to amend the Linkage Plan so 
that the FCQS will be calculated based on the size of the disseminated 
quotation of the Participant receiving the P/A Order. Secondly, Joint 
Amendment No. 16 will eliminate a 15-second waiting period for sending 
a subsequent P/A Order currently provided for in the Linkage Plan. 
Finally, Joint Amendment No. 16 will clarify the conditions under which 
automatic execution is required in response to P/A Orders.

III. Discussion

    After careful consideration, the Commission finds that the proposed 
amendment to the Linkage Plan is consistent with the requirements of 
the Securities Exchange Act of 1934 (``Act'') and the rules and 
regulations thereunder. Specifically, the Commission finds that the 
proposed amendment to the Linkage Plan is consistent with Section 11A 
of the Act \5\ and Rule 608 under the Act,\6\ in that the proposed 
amendment to calculate FCQS on the basis of the size of the Participant 
receiving the P/A Order is appropriate and should facilitate the use of 
the Linkage for the Participants. This change, coupled with the 
proposed elimination of the 15-second waiting period for sending a 
subsequent P/A Order should facilitate investors' intermarket access to 
superior prices disseminated by Participants other than the one to 
which the order was initially sent.
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    \5\ 15 U.S.C. 78k-l.
    \6\ 17 CFR 242.608.
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IV. Conclusion

    It is therefore ordered, pursuant to Section 11A of the Act \7\ and 
Rule 608 thereunder,\8\ that the proposed Joint Amendment No. 16 is 
hereby approved.
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    \7\ 15 U.S.C. 78k-l.
    \8\ 17 CFR 242.608.
    \9\ 17 CFR 200.30-3(a)(29).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
Jonathan G. Katz,
Secretary.
 [FR Doc. E5-6054 Filed 11-1-05; 8:45 am]
BILLING CODE 8010-01-P
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