Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish a Technology Assessment Fee for the Use of Legacy Options Trading Systems, 9392-9394 [E6-2521]
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9392
Federal Register / Vol. 71, No. 36 / Thursday, February 23, 2006 / Notices
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
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has become effective pursuant to
Section 19(b)(3)(A) of the Act 11 and
Rule 19b–4(f)(6) 12 thereunder because it
(i) Does not significantly affect the
protection of investors or the public
interest; (ii) does not impose any
significant burden on competition; and
(iii) does not become operative for 30
days from the date on which it was
filed, or such shorter time as the
Commission may designate, provided
that the self-regulatory organization has
given the Commission written notice of
its intent to file the proposed rule
change at least five business days prior
to the filing date of the proposed rule
change, or such shorter time as the
Commission may designate.
The Exchange has requested that the
Commission waive the five-day prefiling requirement and the 30-day
operative delay of Rule 19b–4(f)(6)(iii)
so that the proposed rule change may
become effective immediately.13 The
Commission believes that waiving the
pre-filing requirement and the operative
delay is consistent with the protection
of investors and the public interest.
Therefore, the Commission has
determined to waive the pre-filing
requirement and the operative delay and
allow the proposed rule change to
become operative immediately.14
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
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
11 15
U.S.C. 78s(b)(3)(A).
CFR 19b–4(f)(6).
13 The Exchange gave the Commission written
notice of its intent to file the proposed rule change
by notice on January 14, 2005.
14 For purposes only of waiving the operative
delay of this proposal, the Commission notes that
it has considered the proposed rule’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
rwilkins on PROD1PC63 with NOTICES
12 17
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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 rulecomments@sec.gov. Please include File
No. SR–Amex–2006–13 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–Amex–2006–13. 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 Commissions
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
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the Exchange. 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–Amex–2006–13 and should
be submitted on or before March 16,
2006.
PO 00000
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 06–1653 Filed 2–22–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53318; File No. SR–Amex–
2006–12]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change To Establish
a Technology Assessment Fee for the
Use of Legacy Options Trading
Systems
February 15, 2006.
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 February
6, 2006, the American Stock Exchange
LLC (‘‘Exchange’’ or ‘‘Amex’’) 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.
Amex has designated this proposal as
one establishing or changing a due, fee,
or other charge imposed by Amex under
section 19(b)(3)(A)(ii) of the Act 3 and
Rule 19b–4(f)(2) thereunder,4 which
renders the proposed rule change
effective upon filing with the
Commission. 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
The Exchange proposes to adopt a
Technology Assessment Fee to be
assessed on its members for the
continued use of legacy options trading
systems. The text of the proposed rule
change is available on Amex’s Web site
(https://www.amex.com), at Amex’s
principal office, and at the
Commission’s Public Reference Room.
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
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Federal Register / Vol. 71, No. 36 / Thursday, February 23, 2006 / Notices
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
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.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
rwilkins on PROD1PC63 with NOTICES
1. Purpose
On May 20, 2004, the Commission
approved the Amex’s proposal to
implement a new options trading
platform known as the Amex New
Trading Environment (the ‘‘ANTE
System’’ or ‘‘ANTE’’).5 ANTE is
intended to replace the following legacy
options trading systems: the Amex
Options Display Book (AODB), Amex’s
theoretical price calculator (XTOPS),
and Auto-Ex. On May 25, 2004, the
Amex began rolling out the ANTE
System on its trading floor on a
specialist’s post-by-specialist’s post
basis. At that time it was anticipated the
roll-out would be completed by the end
of the second quarter of 2005. The
implementation date for the full roll-out
of the ANTE System was subsequently
extended to June 30, 2006.6 Amex has
rolled out the ANTE System to all its
option classes except one—the Nasdaq
100 Index options (‘‘NDX’’). NDX has
the largest notional value of any option
class, with average premiums of $40.
The specialist for this product is
concerned that the theoretical price
calculator provided by the ANTE
System may not accurately price the
options on this index. The specialist has
installed its own theoretical index price
calculator, which currently calculates
prices for the firm’s other options
products, including the Mini Nasdaq
5 See Securities Exchange Act Release No. 49747,
69 FR 30344 (May 27, 2004) (File No. SR–Amex–
2003–89).
6 In a separate filing submitted February 6, 2006,
for immediate effectiveness pursuant to Section
19(b)(3)(A)(iii) of the Act, 15 U.S.C. 78s(b)(3)(A)(iii),
the Exchange proposed to extend the deadline for
implementation of ANTE System for all option
classes from December 31, 2005, to June 30, 2006.
See File No. SR–Amex–2006–13, notice of which
the Commission is separately publishing for
comment today (Securities Exchange Act Release
No. 53319).
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Index (MNX), an index valued at onetenth the value of NDX.
The specialist firm continues to resist
moving NDX off the legacy options
trading systems and onto the ANTE
System as it seeks to gain experience
using its proprietary price calculator.
The NDX specialist is concerned about
the magnitude of errors that could occur
using a theoretical price calculator with
NDX, given its large notional value and
the size of the underlying index.
Although the Exchange is mindful of
the specialist’s concerns, maintaining
two platforms for the trading of
options—the legacy options trading
systems and ANTE—is costly for the
Exchange. Therefore, the Exchange is
proposing to assess the specialist firm a
fee to cover the Exchange’s costs for
maintaining its legacy options trading
systems at the Securities Industry
Automation Corporation (‘‘SIAC’’). The
Exchange currently pays a monthly
maintenance fee to SIAC of $12,000.
The proposal will require the specialist
firm to reimburse the Exchange for these
maintenance costs until it transitions all
of its options classes to the ANTE
System.7
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
section 6(b) of the Act 8 in general and
furthers the objectives of section
6(b)(4) 9 in particular in that it is
intended to provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members and
issuers and other persons using its
facilities. Specifically, the Exchange is
proposing to assess the one member
organization continuing to use its legacy
options trading systems in order to
recover its costs for maintaining these
systems.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange 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.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
No written comments were solicited
or received with respect to the proposed
rule change.
7 The Exchange expects that the NDX specialist
will move NDX onto the ANTE System by June 30,
2006, the new deadline for implementation of the
ANTE System. See supra note 6.
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(4).
PO 00000
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9393
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has become effective pursuant to section
19(b)(3)(A) of the Act 10 and Rule 19b–
4(f)(2) 11 thereunder because it
establishes or changes a due, fee, or
other charge imposed by the Exchange.
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
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
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
No. SR–Amex–2006–12 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–Amex–2006–12. 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
10 15
11 17
E:\FR\FM\23FEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 19b–4(f)(2).
23FEN1
9394
Federal Register / Vol. 71, No. 36 / Thursday, February 23, 2006 / Notices
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the Amex. 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–Amex–2006–12 and should
be submitted on or before March 16,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6–2521 Filed 2–22–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53321; File No. SR–NASD–
2006–024]
Self-Regulatory Organizations;
National Association of Securities
Dealers, Inc.; Notice of Filing and
Order Granting Accelerated Approval
of Proposed Rule Change To Modify
Pricing for Non-Members Using
Nasdaq’s Brut and Inet Facilities
February 15, 2006.
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 February
13, 2006, the National Association of
Securities Dealers, Inc. (‘‘NASD’’),
through its subsidiary, The Nasdaq
Stock Market, Inc. (‘‘Nasdaq’’), 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 Nasdaq. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons. In
addition, the Commission is granting
accelerated approval of the proposed
rule change.
rwilkins on PROD1PC63 with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Nasdaq proposes to modify the
pricing for non-members using Nasdaq’s
Brut and Inet Facilities to trade
securities priced under $1.00. The filing
will apply to these non-members the
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
same pricing change that Nasdaq is
instituting for members.3 Nasdaq seeks
approval to implement the proposed
rule change retroactively as of February
13, 2006. The text of the proposed rule
change is available on NASD’s Web site
(https://www.nasd.com), at NASD’s
principal office, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Nasdaq included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it had received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item III below.
Nasdaq 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
Since the beginning of February,
Nasdaq has observed an increase in the
extent to which market participants are
posting limit orders in certain securities
priced under $1.00 in circumstances
where the price of the posted order
locks or crosses prices available on
other markets or improves upon the
NBBO by an extremely small amount.
The alteration in market participant
behavior appears to be a result of both
Nasdaq’s introduction of subpenny
pricing in Nasdaq-listed securities
priced under $1.00, as well as the
dissemination of said pricing via the
Securities Information Processor, and a
recent Nasdaq pricing change that
eliminated caps on liquidity provider
rebates for these securities. As a result,
it appears that certain participants are
submitting orders in these low-priced
securities in a manner calculated to earn
liquidity provider rebates. Because
Nasdaq considers this behavior
detrimental to market quality, Nasdaq
proposes to modify its pricing for
securities priced under $1.00 to
eliminate the liquidity provider credit.
To offset the effect of this change on
market participants engaged in
legitimate trading of these securities,
Nasdaq also proposes to reduce the fee
to access liquidity in these stocks from
the current fee of $0.0028 or $0.003 per
share to a charge equal to 0.1% of the
total transaction cost. Thus, in a
transaction to buy 1,000 shares at $0.50,
the charge to access liquidity would be
$0.50. Nasdaq believes this change will
also ensure that Nasdaq’s pricing for
low-priced securities is consistent with
Rule 610(c)(2) of Regulation NMS when
it takes effect later this year. Rule
610(c)(2) will limit fees for access to
quotations under $1.00 to no more than
0.3% of the quotation price per share.
In SR–NASD–2006–023, Nasdaq made
this change applicable to NASD
members on an immediately effective
basis. Nasdaq is submitting this filing to
apply the changes to non-members
using the Brut and Inet facilities, and
also plans to submit a filing to make
both the member and non-member
changes retroactive to February 1, 2006.
2. Statutory Basis
Nasdaq believes that the proposed
rule change is consistent with the
provisions of section 15A of the Act,4 in
general, and with section 15A(b)(5) of
the Act,5 in particular, in that it
provides for the equitable allocation of
reasonable dues, fees and other charges
among members and issuers and other
persons using any facility or system
which the NASD operates or controls.
The proposed rule change applies to
non-members that use Brut and Inet a
fee change that is being implemented for
NASD members that use the Nasdaq
Facilities. Accordingly, Nasdaq believes
that the proposed rule change promotes
an equitable allocation of fees between
members and non-members using
Nasdaq’s order execution facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq does not believe that the
proposed rule change will result in any
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
Written comments were neither
solicited nor received.
III. 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:
12 17
1 15
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16:15 Feb 22, 2006
3 See Securities Exchange Act Release No. 53321
(February 15, 2006) (File No. SR–NASD–2006–023).
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U.S.C. 78o–3.
U.S.C. 78o–3(b)(5).
23FEN1
]]>Agencies
[Federal Register Volume 71, Number 36 (Thursday, February 23, 2006)]
[Notices]
[Pages 9392-9394]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-2521]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53318; File No. SR-Amex-2006-12]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Establish a Technology Assessment Fee for the Use of Legacy Options
Trading Systems
February 15, 2006.
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 February 6, 2006, the American Stock Exchange LLC (``Exchange'' or
``Amex'') 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. Amex has
designated this proposal as one establishing or changing a due, fee, or
other charge imposed by Amex under section 19(b)(3)(A)(ii) of the Act
\3\ and Rule 19b-4(f)(2) thereunder,\4\ which renders the proposed rule
change effective upon filing with the Commission. 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)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to adopt a Technology Assessment Fee to be
assessed on its members for the continued use of legacy options trading
systems. The text of the proposed rule change is available on Amex's
Web site (https://www.amex.com), at Amex's principal office, and at the
Commission's Public Reference Room.
[[Page 9393]]
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 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.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
On May 20, 2004, the Commission approved the Amex's proposal to
implement a new options trading platform known as the Amex New Trading
Environment (the ``ANTE System'' or ``ANTE'').\5\ ANTE is intended to
replace the following legacy options trading systems: the Amex Options
Display Book (AODB), Amex's theoretical price calculator (XTOPS), and
Auto-Ex. On May 25, 2004, the Amex began rolling out the ANTE System on
its trading floor on a specialist's post-by-specialist's post basis. At
that time it was anticipated the roll-out would be completed by the end
of the second quarter of 2005. The implementation date for the full
roll-out of the ANTE System was subsequently extended to June 30,
2006.\6\ Amex has rolled out the ANTE System to all its option classes
except one--the Nasdaq 100 Index options (``NDX''). NDX has the largest
notional value of any option class, with average premiums of $40. The
specialist for this product is concerned that the theoretical price
calculator provided by the ANTE System may not accurately price the
options on this index. The specialist has installed its own theoretical
index price calculator, which currently calculates prices for the
firm's other options products, including the Mini Nasdaq Index (MNX),
an index valued at one-tenth the value of NDX.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 49747, 69 FR 30344
(May 27, 2004) (File No. SR-Amex-2003-89).
\6\ In a separate filing submitted February 6, 2006, for
immediate effectiveness pursuant to Section 19(b)(3)(A)(iii) of the
Act, 15 U.S.C. 78s(b)(3)(A)(iii), the Exchange proposed to extend
the deadline for implementation of ANTE System for all option
classes from December 31, 2005, to June 30, 2006. See File No. SR-
Amex-2006-13, notice of which the Commission is separately
publishing for comment today (Securities Exchange Act Release No.
53319).
---------------------------------------------------------------------------
The specialist firm continues to resist moving NDX off the legacy
options trading systems and onto the ANTE System as it seeks to gain
experience using its proprietary price calculator. The NDX specialist
is concerned about the magnitude of errors that could occur using a
theoretical price calculator with NDX, given its large notional value
and the size of the underlying index.
Although the Exchange is mindful of the specialist's concerns,
maintaining two platforms for the trading of options--the legacy
options trading systems and ANTE--is costly for the Exchange.
Therefore, the Exchange is proposing to assess the specialist firm a
fee to cover the Exchange's costs for maintaining its legacy options
trading systems at the Securities Industry Automation Corporation
(``SIAC''). The Exchange currently pays a monthly maintenance fee to
SIAC of $12,000. The proposal will require the specialist firm to
reimburse the Exchange for these maintenance costs until it transitions
all of its options classes to the ANTE System.\7\
---------------------------------------------------------------------------
\7\ The Exchange expects that the NDX specialist will move NDX
onto the ANTE System by June 30, 2006, the new deadline for
implementation of the ANTE System. See supra note 6.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with section 6(b) of the Act \8\ in general and furthers the objectives
of section 6(b)(4) \9\ in particular in that it is intended to provide
for the equitable allocation of reasonable dues, fees, and other
charges among its members and issuers and other persons using its
facilities. Specifically, the Exchange is proposing to assess the one
member organization continuing to use its legacy options trading
systems in order to recover its costs for maintaining these systems.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange 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.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change has become effective pursuant to
section 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(2) \11\
thereunder because it establishes or changes a due, fee, or other
charge imposed by the Exchange. 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 interest, for the
protection of investors, or otherwise in furtherance of the purposes of
the Act.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 19b-4(f)(2).
---------------------------------------------------------------------------
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 No. SR-Amex-2006-12 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-Amex-2006-12. 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
[[Page 9394]]
Room. Copies of such filing also will be available for inspection and
copying at the principal office of the Amex. 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-Amex-2006-12 and should be submitted on
or before March 16, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-2521 Filed 2-22-06; 8:45 am]
BILLING CODE 8010-01-P
