Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend a Pilot Program Relating to Electronic DPMs and Affiliated Market-Makers, 955-957 [E6-19]
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Federal Register / Vol. 71, No. 4 / Friday, January 6, 2006 / Notices
ISFSI. No physical changes will occur to
the Trojan ISFSI as a result of the
change in ownership of PacifiCorp.
Thus, both the management and
operation of the ISFSI will remain
unchanged.
II
The applicant requested approval of
the indirect transfer of the Trojan ISFSI
license, to the extent held by PacifiCorp,
to MEHC, pursuant to 10 CFR 72.50(a)
which states:
No license or any part included in a license
issued under this part for an ISFSI
[Independent Spent Fuel Storage Installation]
or MRS [Monitored Retrievable Storage
Installation] shall be transferred, assigned, or
in any manner disposed of, either voluntarily
or involuntarily, directly or indirectly,
through transfer of control of the license to
any person, unless the Commission gives its
consent in writing.
The Commission will approve an
application for the indirect transfer of a
license, if, after appropriate notice and
observance of required procedures, the
Commission determines that: (1) The
underlying transaction effecting the
indirect transfer will not affect the
qualifications of the holder of the
license; and (2) the indirect transfer of
the license is consistent with applicable
provisions of the law, and the
regulations and orders issued by the
Commission.
Upon review of the information in the
application, and other information
before the Commission, the NRC staff
has determined that MEHC’s proposed
purchase of all the outstanding shares of
PacifiCorp from PHI will not affect the
qualifications of PacifiCorp as holder of
Materials License No. SNM–2509, and
that the indirect transfer of the license,
to the extent effected by the proposed
acquisition, is otherwise consistent with
applicable provisions of law,
regulations, and orders issued by the
Commission, subject to the conditions
set forth herein. These findings are
supported by ‘‘Safety Evaluation by the
Office of Nuclear Materials Safety and
Safeguards, PacifiCorp, Trojan
Independent Spent Fuel Storage
Installation, Docket No. 72–17,’’ dated
October 27, 2005.
cprice-sewell on PROD1PC66 with NOTICES
III
In view of the foregoing, the
Commission finds that the acquisition of
PacifiCorp by MEHC will not affect the
qualifications of PacifiCorp to hold the
Trojan ISFSI Materials License to the
extent now held by PacifiCorp, and the
indirect transfer of control of the license
to MEHC is otherwise consistent with
the applicable provisions of law,
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15:23 Jan 05, 2006
Jkt 208001
regulations, and orders issued by the
Commission pursuant thereto.
Accordingly, pursuant to Sections
161b, 161i, 161o, and 184 of the Atomic
Energy Act of 1954, as amended (the
Act), 42 U.S.C. 2201(b), 2201(i), 2201(o),
and 2234; and 10 CFR 72.50, it is hereby
ordered that the application regarding
the indirect license transfer related to
the proposed acquisition is approved,
subject to the following conditions:
(1) PacifiCorp shall provide the
Director of the Office of Nuclear
Material Safety and Safeguards a copy of
any application, at the time it is filed,
to transfer (excluding grants of security
interests or liens) from PacifiCorp to its
direct or indirect parent, or to any
affiliated company, facilities for the
production, transmission, or
distribution of electric energy having a
depreciated book value exceeding 10
percent (10%) of PacifiCorp’s net utility
plant, as recorded on its books of
account.
(2) Should the proposed indirect
license transfer not be completed by
December 31, 2006, this Order shall
become null and void, provided,
however, upon application and for good
cause shown, such a date may be
extended.
This Order is effective upon issuance.
For further details with respect to this
Order, see the application dated June
30, 2005, and supplement dated August
12, 2005, and the safety evaluation
report dated October 27, 2005, which
are available for public inspection at the
Commission’s Public Document Room
(PDR), located at One White Flint North,
Public File Area O1 F21, 11555
Rockville Pike (first floor), Rockville,
Maryland. Publicly available records
will be accessible electronically from
the Agencywide Documents Access and
Management System’s (ADAMS) Public
Electronic Reading Room on the Internet
at the NRC Web site, https://
www.nrc.gov/reading-rm/adams.html.
Persons who do not have access to
ADAMS or who encounter problems in
accessing the documents located in
ADAMS, should contact the NRC PDR
Reference staff by telephone at 1–800–
397–4209, 301–415–4737 or by e-mail to
pdr@nrc.gov.
Dated at Rockville, Maryland this 29th day
of December, 2005.
For the Nuclear Regulatory Commission.
Robert C. Pierson,
Acting Director, Office of Nuclear Material
Safety and Safeguards.
[FR Doc. E6–9 Filed 1–5–06; 8:45 am]
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955
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53040; File No. SR–CBOE–
2005–116]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Extend a Pilot
Program Relating to Electronic DPMs
and Affiliated Market-Makers
December 28, 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 December
23, 2005, the Chicago Board Options
Exchange, Incorporated (‘‘Exchange’’ or
‘‘CBOE’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change as described
in Items I and II below, which Items
have been prepared by the Exchange.
The Exchange filed the proposal as a
‘‘non-controversial’’ proposed rule
change pursuant to Section
19(b)(3)(A)(iii) of the Act 3 and Rule
19b–4(f)(6) thereunder.4 The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CBOE proposes to extend the pilot
allowing Electronic DPMs (‘‘e-DPMS’’)
to have up to one affiliated MarketMaker trade in classes assigned to the eDPM. The text of the proposed rule
change is available on the Exchange’s
Web site (https://www.cboe.com), at the
Exchange’s Office of the Secretary, and
at the Commission.
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
CBOE 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 those
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 parts of such
statements.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
2 17
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956
Federal Register / Vol. 71, No. 4 / Friday, January 6, 2006 / Notices
trade, and to protect investors and the
public interest.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend
CBOE Rule 8.93(vii) to extend the pilot
program allowing an e-DPM the option
to have up to one separate affiliated
Market-Maker physically present in the
trading crowds where it operates as an
e-DPM (such Market-Makers would be
required to trade on a separate
membership). The pilot would be
extended from January 12, 2006 until
September 14, 2006.
In July of 2004, the SEC approved File
No. SR–CBOE–2004–24, which
established the e-DPM program,
including the pilot program.5 The pilot
allows e-DPM firms to maintain a
physical presence in the trading crowd
through an affiliated Market-Maker, who
would also be able to electronically
stream a quote. The pilot, however,
limits the number of separate affiliates
per trading crowd to one.
CBOE will be sending the
Commission, under separate cover, data
relating to: (1) The size of the orders that
e-DPM’s and affiliated Market-Makers
both trade with electronically; (2) the
price and size of the e-DPM’s and the
affiliated Market-Maker’s respective
quotes; (3) the price and size of quotes
of other participants in the classes
where an e-DPM and an affiliate are
quoting; and (4) a breakdown of how
orders are allocated to the e-DPM, the
affiliated Market-Maker, and any other
participants.
The date chosen to extend the pilot
program corresponds with the ending
date of a matching pilot program for
Remote Market-Makers (RMMs) found
in CBOE Rule 8.4(c)(i). Thus, the date
chosen would allow the Commission to
evaluate both pilot programs
simultaneously.
cprice-sewell on PROD1PC66 with NOTICES
2. Statutory Basis
CBOE believes the proposed rule
change is consistent with the Act and
the rules and regulations under the Act
applicable to a national securities
exchange and, in particular, the
requirements of Section 6(b) of the Act.6
Specifically, the Exchange believes the
proposed rule change is consistent with
the Section 6(b)(5) 7 requirements that
the rules of an exchange be designed to
promote just and equitable principles of
Securities Exchange Act Release No. 50003
(July 12, 2004), 69 FR 43028 (July 19, 2004).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition not necessary 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
The Exchange neither solicited nor
received comments on the proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
does not (i) significantly affect the
protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate if
consistent with the protection of
investors and the public interest,
provided that the Exchange has given
the Commission written notice of its
intent to file the proposed rule change
at least five business days prior to the
date of filing of the proposed rule
change or such shorter time as
designated by the Commission, the
proposed rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 8 and Rule 19b–4(f)(6)
thereunder.9 At any time within 60 days
of the filing of such 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.
Under Rule 19b–4(f)(6)(iii) of the
Act,10 the proposal does not become
operative for 30 days after the date of its
filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest. The Exchange has
requested that the Commission
accelerate the 30-day operative date and
waive the five day pre-filing
requirement. The Commission,
consistent with the protection of
investors and the public interest, has
determined to accelerate the 30-day
operative date and waive the five day
5 See
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8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii).
9 17
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pre-filing requirement, so that the eDPM pilot program may continue
without interruption.11
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 (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–CBOE–2005–116 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–9303.
All submissions should refer to File
Number SR–CBOE–2005–116. 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 (https://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
Section, 100 F Street, NE., Washington,
DC 20549. Copies of such filing also will
be available for inspection and copying
at the principal office of the CBOE. 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–CBOE–2005–116 and
11 For purposes only of accelerating the 30-day
operative period for this proposal, the Commission
has considered the proposed rule’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
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Federal Register / Vol. 71, No. 4 / Friday, January 6, 2006 / Notices
proposed rule change is available on
CBOE’s Web site, https://www.cboe.com,
at CBOE’s principal office, and at the
Commission’s Public Reference Room.
should be submitted on or before
January 27, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Jonathan G. Katz,
Secretary.
[FR Doc. E6–19 Filed 1–5–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53044; File No. SR–CBOE–
2005–114]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change and Amendment No. 1
Thereto Relating to Extension of the
Prospective Fee Reduction and DPM
Linkage Fee Credit Programs
December 30, 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 December
16, 2005, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. On December
22, 2005, CBOE filed Amendment No. 1
to the proposed rule change.3 CBOE has
designated this proposal as one
establishing or changing a due, fee, or
other charge imposed by a selfregulatory organization pursuant to
Section 19(b)(3)(A) of the Act,4 and Rule
19b–4(f)(2) thereunder,5 which renders
the proposal effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change,
as amended, from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
cprice-sewell on PROD1PC66 with NOTICES
CBOE proposes to amend its Fees
Schedule to extend through January 31,
2006 the Prospective Fee Reduction
Program and the DPM Linkage Fees
Credit Program. The text of the
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 In Amendment No. 1, CBOE deleted all
references to an extension of the Fixed Annual Fee
Program.
4 15 U.S.C. 78s(b)(3)(A).
5 17 CFR 240.19b–4(f)(2).
1 15
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15:23 Jan 05, 2006
Jkt 208001
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CBOE included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it received on the proposal.
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to extend two
Exchange-fee related programs through
the end of January 2006: The
Prospective Fee Reduction Program and
the DPM Linkage Fees Credit Program.6
Each program is currently due to expire
at the end of 2005. The Exchange has
determined to extend each of these
programs for an additional month
because the Exchange’s 2006 budget is
expected to be approved in January
2006.
Prospective Fee Reduction Program.
The Exchange proposes to continue the
Prospective Fee Reduction Program
(‘‘PFRP’’) through January 31, 2006. No
other changes to the PFRP are proposed.
The current PFRP took effect on August
1, 2004.7 The PFRP is intended to
reduce Market-Maker and DPM
transaction fees in periods of high
volume. The Exchange will determine
as part of its annual budget review
process whether the PFRP should be
continued, modified or eliminated in
the future. Any proposed changes to the
PFRP would be filed with the
Commission.
DPM Linkage Fees Credit Program.
The Exchange proposes to continue the
DPM Linkage Fees Credit Program
(‘‘Linkage Fees Credit’’) through January
31, 2006. No other changes to the
Linkage Fees Credit are proposed. The
Linkage Fees Credit took effect on
6 See Sections 19 and 21 of the CBOE Fees
Schedule, respectively.
7 See Securities Exchange Act Release No. 50175
(August 10, 2004), 69 FR 51129 (August 17, 2004)
(SR–CBOE–2004–38). See also Securities Exchange
Act Release No. 52111 (July 22, 2005), 70 FR 43729
(July 28, 2005) (SR–CBOE–2005–52) (extension of
PFRP through the end of 2005).
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957
February 2, 2004 and was amended
twice.8 The Linkage Fees Credit is a
program that credits DPMs for
transaction fees they incur related to the
execution of outbound P/A orders, as
defined in the Plan for the Purpose of
Creating and Operating an Intermarket
Option Linkage, to assist DPMs in
offsetting the additional costs they incur
in routing orders to other exchanges in
order to obtain the National Best Bid or
Offer. The Exchange will determine as
part of its annual budget review process
whether the Linkage Fees Credit should
be continued, modified or eliminated in
the future. Any proposed changes to the
Linkage Fees Credit would be filed with
the Commission.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act 9 in general, and
furthers the objectives of Section 6(b)(4)
of the Act 10 in particular, in that it is
designed to provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE believes that the proposed rule
change would impose no burden on
competition that is not necessary 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
CBOE did not solicit or receive any
written comments with respect to the
proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has been designated as a fee change
pursuant to Section 19(b)(3)(A)(ii) of the
Act 11 and Rule 19b–4(f)(2) 12
thereunder. Accordingly, the proposal is
effective upon filing with the
Commission. 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
8 See Securities Exchange Act Release Nos. 49341
(March 1, 2004), 69 FR 10492 (March 5, 2004) (SR–
CBOE–2004–08); 49769 (May 25, 2004), 69 FR
31145 (June 2, 2004) (SR–CBOE–2004–13); and
52660 (October 24, 2005), 70 FR 62355 (October 31,
2005) (SR–CBOE–2005–80).
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(4).
11 15 U.S.C. 78s(b)(3)(A)(ii).
12 17 CFR 240.19b–4(f)(2).
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]]>Agencies
[Federal Register Volume 71, Number 4 (Friday, January 6, 2006)]
[Notices]
[Pages 955-957]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-19]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53040; File No. SR-CBOE-2005-116]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change To Extend a Pilot Program Relating to Electronic DPMs and
Affiliated Market-Makers
December 28, 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 December 23, 2005, the Chicago Board Options Exchange, Incorporated
(``Exchange'' or ``CBOE'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I and II below, which Items have been prepared by the Exchange.
The Exchange filed the proposal as a ``non-controversial'' proposed
rule change pursuant to Section 19(b)(3)(A)(iii) of the Act \3\ and
Rule 19b-4(f)(6) thereunder.\4\ The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(iii).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CBOE proposes to extend the pilot allowing Electronic DPMs (``e-
DPMS'') to have up to one affiliated Market-Maker trade in classes
assigned to the e-DPM. The text of the proposed rule change is
available on the Exchange's Web site (https://www.cboe.com), at the
Exchange's Office of the Secretary, and at the Commission.
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 CBOE 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 those 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 parts of such
statements.
[[Page 956]]
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange proposes to amend CBOE Rule 8.93(vii) to extend the
pilot program allowing an e-DPM the option to have up to one separate
affiliated Market-Maker physically present in the trading crowds where
it operates as an e-DPM (such Market-Makers would be required to trade
on a separate membership). The pilot would be extended from January 12,
2006 until September 14, 2006.
In July of 2004, the SEC approved File No. SR-CBOE-2004-24, which
established the e-DPM program, including the pilot program.\5\ The
pilot allows e-DPM firms to maintain a physical presence in the trading
crowd through an affiliated Market-Maker, who would also be able to
electronically stream a quote. The pilot, however, limits the number of
separate affiliates per trading crowd to one.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 50003 (July 12,
2004), 69 FR 43028 (July 19, 2004).
---------------------------------------------------------------------------
CBOE will be sending the Commission, under separate cover, data
relating to: (1) The size of the orders that e-DPM's and affiliated
Market-Makers both trade with electronically; (2) the price and size of
the e-DPM's and the affiliated Market-Maker's respective quotes; (3)
the price and size of quotes of other participants in the classes where
an e-DPM and an affiliate are quoting; and (4) a breakdown of how
orders are allocated to the e-DPM, the affiliated Market-Maker, and any
other participants.
The date chosen to extend the pilot program corresponds with the
ending date of a matching pilot program for Remote Market-Makers (RMMs)
found in CBOE Rule 8.4(c)(i). Thus, the date chosen would allow the
Commission to evaluate both pilot programs simultaneously.
2. Statutory Basis
CBOE believes the proposed rule change is consistent with the Act
and the rules and regulations under the Act applicable to a national
securities exchange and, in particular, the requirements of Section
6(b) of the Act.\6\ Specifically, the Exchange believes the proposed
rule change is consistent with the Section 6(b)(5) \7\ requirements
that the rules of an exchange be designed to promote just and equitable
principles of trade, and to protect investors and the public interest.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CBOE does not believe that the proposed rule change will impose any
burden on competition not necessary 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
The Exchange neither solicited nor received comments on the
proposal.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule does not (i) significantly
affect the protection of investors or the public interest; (ii) impose
any significant burden on competition; and (iii) become operative for
30 days from the date on which it was filed, or such shorter time as
the Commission may designate if consistent with the protection of
investors and the public interest, provided that the Exchange has given
the Commission written notice of its intent to file the proposed rule
change at least five business days prior to the date of filing of the
proposed rule change or such shorter time as designated by the
Commission, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
At any time within 60 days of the filing of such 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 240.19b-4(f)(6).
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Under Rule 19b-4(f)(6)(iii) of the Act,\10\ the proposal does not
become operative for 30 days after the date of its filing, or such
shorter time as the Commission may designate if consistent with the
protection of investors and the public interest. The Exchange has
requested that the Commission accelerate the 30-day operative date and
waive the five day pre-filing requirement. The Commission, consistent
with the protection of investors and the public interest, has
determined to accelerate the 30-day operative date and waive the five
day pre-filing requirement, so that the e-DPM pilot program may
continue without interruption.\11\
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\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ For purposes only of accelerating the 30-day operative
period for this proposal, the Commission has considered the proposed
rule's impact on efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
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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 (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-CBOE-2005-116 on the subject line.
Paper Comments
Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.
All submissions should refer to File Number SR-CBOE-2005-116. 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 (https://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 Section, 100 F Street,
NE., Washington, DC 20549. Copies of such filing also will be available
for inspection and copying at the principal office of the CBOE. 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-CBOE-2005-116 and
[[Page 957]]
should be submitted on or before January 27, 2006.
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\12\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
Jonathan G. Katz,
Secretary.
[FR Doc. E6-19 Filed 1-5-06; 8:45 am]
BILLING CODE 8010-01-P
