Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the SizeQuote Mechanism Pilot Program for a Period of One Year, 9406-9407 [E6-2535]
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Federal Register / Vol. 71, No. 36 / Thursday, February 23, 2006 / Notices
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53315; File No. SR–PCX–
2006–09]
Self-Regulatory Organizations; Pacific
Exchange, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Extending the SizeQuote
Mechanism Pilot Program for a Period
of One Year
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 Pacific Exchange, Inc.
(‘‘PCX’’ or ‘‘Exchange’’) 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 PCX. The Exchange filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
section 19(b)(3)(A) of the Act3 and Rule
19b–4(f)(6) thereunder,4 which renders
it effective upon filing with the
Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
rwilkins on PROD1PC63 with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
PCX proposes to amend its rules in
order to extend the SizeQuote
Mechanism Pilot Program (‘‘Pilot
Program’’) contained in PCX Rule
6.47(g), for a one-year period ending
February 15, 2007. The text of the
proposed rule change is available on the
Exchange’s Web site (https://
www.pacificex.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
PCX 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.
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
16:15 Feb 22, 2006
1. Purpose
The purpose of this proposal is to
extend for one year the Exchange’s
SizeQuote Mechanism Pilot Program
(‘‘Pilot Program’’). The current Pilot
Program, established when the PCX
filed SR–PCX–2005–35,5 was effective
upon filing, and expires on February 15,
2006. At the time SR–PCX–2005–35 was
filed, the Exchange represented that at
the completion of the Pilot Program the
PCX would provide to the Commission
a report summarizing the effectiveness
of the SizeQuote program. While the
Exchange believes that the SizeQuote
Mechanism can be an effective tool for
Floor Brokers to use while executing
large size orders in open outcry, the
mechanism has not been used
frequently enough to supply sufficient
evidence to evaluate the effectiveness of
the Pilot Program. In order to allow for
additional time to compile sufficient
evidence as to the effectiveness of the
Pilot Program, the PCX proposes to
extend the Pilot Program for a one-year
period ending February 15, 2007. At the
end of the extended Pilot Program the
PCX feels it will be able to supply the
Commission with a report summarizing
the effectiveness of the program.
2. Basis
The Exchange believes that the
proposed rule change is consistent with
section 6(b) of the Act,6 in general, and
furthers the objectives of section 6(b)(5)
of the Act,7 in particular, in that it is
designed to facilitate transactions in
securities, to promote just and equitable
principles of trade and to protect
investors and the public interest.
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
Written comments on the proposed
rule change were neither solicited nor
received.
5 See Securities Exchange Act Release No. 51576
(April 19, 2005), 70 FR 21488 (April 26, 2005).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(5).
2 17
VerDate Aug<31>2005
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
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III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change 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, it has become effective
pursuant to section 19(b)(3)(A) of the
Act8 and Rule 19b–4(f)(6) thereunder.9
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 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.
A proposed rule change filed under
section 19b–4(f)(6) normally may not
become operative prior to 30 days after
the date of its filing.10 Rule 19b–
4(f)(6)(iii) permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest.11 PCX
has requested that the Commission
waive the 30-day operative delay. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest so that the Pilot Program
may continue until February 15, 2007
without interruption.12
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:
8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). Pursuant to Rule 19b–
4(f)(6)(iii) under the Act, the Exchange is required
to give the Commission written notice of its intent
to file the proposed rule change, along with a brief
description and text of 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 Commission
notes that the Exchange provided notice of the
filing at least five business days prior to the date
of filing.
10 17 CFR 240.19b–4(f)(6)(iii).
11 Id.
12 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
9 17
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Federal Register / Vol. 71, No. 36 / Thursday, February 23, 2006 / Notices
Electronic Comments
SMALL BUSINESS ADMINISTRATION
• 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–PCX–2006–09 on the
subject line.
[Disaster Declaration #10299 and #10300]
Connecticut Disaster Number CT–
00002
Small Business Administration.
Amendment 1.
AGENCY:
ACTION:
SUMMARY: This is an amendment of the
Administrative declaration of a major
disaster for the State of Connecticut,
• Send paper comments in triplicate
dated 12/21/2005.
to Nancy M. Morris, Secretary,
Incident: Severe Flooding.
Securities and Exchange Commission,
Incident Period: 10/14/2005 through
100 F Street, NE., Washington, DC
10/15/2005.
20549–1090.
Effective Date: 02/13/2006.
Physical Loan Application Deadline
All submissions should refer to File
Date: 03/23/2006.
Number SR–PCX–2006–09. This file
EIDL Loan Application Deadline Date:
number should be included on the
09/21/2006.
subject line if e-mail is used. To help the
ADDRESSES: Submit completed loan
Commission process and review your
applications to: U.S. Small Business
comments more efficiently, please use
Administration, National Processing
only one method. The Commission will
And Disbursement Center, 14925
post all comments on the Commission’s
Kingsport Road, Fort Worth, TX 76155.
Internet Web site (https://www.sec.gov/
FOR FURTHER INFORMATION CONTACT: A.
rules/sro.shtml). Copies of the
Escobar, Office of Disaster Assistance,
submission, all subsequent
U.S. Small Business Administration,
amendments, all written statements
409 3rd Street, SW., Suite 6050,
with respect to the proposed rule
Washington, DC 20416.
change that are filed with the
SUPPLEMENTARY INFORMATION: The notice
Commission, and all written
of an Administrative declaration for the
communications relating to the
State of Connecticut, dated 12/21/2005,
proposed rule change between the
is hereby amended to extend the
Commission and any person, other than
deadline for filing applications for
those that may be withheld from the
physical damages as a result of this
public in accordance with the
disaster to 03/23/2006.
provisions of 5 U.S.C. 552, will be
All other information in the original
available for inspection and copying in
declaration remains unchanged.
the Commission’s Public Reference
(Catalog of Federal Domestic Assistance
Section, 100 F Street, NE., Washington,
Numbers 59002 and 59008)
DC 20549. Copies of such filing also will
Dated: February 13, 2006.
be available for inspection and copying
Hector V. Barreto,
at the principal office of the Exchange.
Administrator.
All comments received will be posted
[FR Doc. E6–2536 Filed 2–22–06; 8:45 am]
without change; the Commission does
BILLING CODE 8025–01–P
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All DEPARTMENT OF STATE
submissions should refer to File
[Public Notice 5267]
Number SR–PCX–2006–09 and should
Notice of Renewal for the Charter of
be submitted on or before March 16,
the Secretary of State’s Advisory
2006.
Committee on Leadership and
For the Commission, by the Division of
Management Under the Name of the
Market Regulation, pursuant to delegated
Secretary of State’s Advisory
authority.13
Committee on Transformational
J. Lynn Taylor,
Diplomacy
Paper Comments
rwilkins on PROD1PC63 with NOTICES
Assistant Secretary.
[FR Doc. E6–2535 Filed 2–22–06; 8:45 am]
BILLING CODE 8010–01–P
13 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
16:15 Feb 22, 2006
Jkt 205001
SUMMARY: Pursuant to Section 9(a) of the
Federal Advisory Committee Act (Pub.
L. 92–463) and under the general
authority of the Secretary and the
Department of State, as derived from the
President’s constitutional authority and
as set forth in sections 2656 and 2651a
PO 00000
Frm 00100
Fmt 4703
Sfmt 4703
9407
of Title 22 of the United States Code and
other relevant statutes, this notice
announces the renewal of the Secretary
of State’s Advisory Committee on
Leadership and Management and
amends the title as the Secretary of
State’s Advisory Committee on
Transformational Diplomacy.
The Advisory Committee was created
as a vehicle to address leadership and
management issues pertaining to
transformational diplomacy as they
arise and not in response to a specific
issue or pending concern. Members of
the Advisory Committee may include
former senior U.S. government officials
and members of Congress and
representatives of corporations, not-forprofit non-governmental organizations,
professional associations, public policy
or academic institutions, and other
experts as needed. All meetings of this
Committee will be published ahead of
time in the Federal Register.
Additionally, the establishment of the
Secretary of State’s Advisory Committee
on Transformational Diplomacy is
essential to the conduct of Department
of State business, and is in the public
interest. Further information regarding
this committee may be obtained from
Madelyn S. Marchessault, Office of
Management Policy, U.S. Department of
State, Washington, DC 20520, phone
(202) 647–1068.
Dated: February 7, 2006.
Marguerite Coffey,
Acting Director, Office of Management Policy,
Department of State.
[FR Doc. E6–2591 Filed 2–22–06; 8:45 am]
BILLING CODE 4710–35–P
DEPARTMENT OF STATE
[Public Notice 5306]
Meeting of Advisory Committee on
International Communications and
Information Policy
The Department of State announces
the next meeting of its Advisory
Committee on International
Communications and Information
Policy (ACICIP) to be held on Thursday,
March 30, 2006, from 10 a.m. to 12:30
p.m., in the Loy Henderson Auditorium
of the Harry S. Truman Building of the
U.S. Department of State. The Truman
Building is located at 2201 C Street,
NW., Washington, DC 20520.
The committee provides a formal
channel for regular consultation and
coordination on major economic, social
and legal issues and problems in
international communications and
information policy, especially as these
issues and problems involve users of
E:\FR\FM\23FEN1.SGM
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]]>Agencies
[Federal Register Volume 71, Number 36 (Thursday, February 23, 2006)]
[Notices]
[Pages 9406-9407]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-2535]
[[Page 9406]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53315; File No. SR-PCX-2006-09]
Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change Extending
the SizeQuote Mechanism Pilot Program for a Period of One Year
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 Pacific Exchange, Inc. (``PCX'' or
``Exchange'') 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 PCX. The Exchange filed the
proposal as a ``non-controversial'' proposed rule change pursuant to
section 19(b)(3)(A) of the Act\3\ and Rule 19b-4(f)(6) thereunder,\4\
which renders it 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).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
PCX proposes to amend its rules in order to extend the SizeQuote
Mechanism Pilot Program (``Pilot Program'') contained in PCX Rule
6.47(g), for a one-year period ending February 15, 2007. The text of
the proposed rule change is available on the Exchange's Web site
(https://www.pacificex.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 PCX 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
The purpose of this proposal is to extend for one year the
Exchange's SizeQuote Mechanism Pilot Program (``Pilot Program''). The
current Pilot Program, established when the PCX filed SR-PCX-2005-
35,\5\ was effective upon filing, and expires on February 15, 2006. At
the time SR-PCX-2005-35 was filed, the Exchange represented that at the
completion of the Pilot Program the PCX would provide to the Commission
a report summarizing the effectiveness of the SizeQuote program. While
the Exchange believes that the SizeQuote Mechanism can be an effective
tool for Floor Brokers to use while executing large size orders in open
outcry, the mechanism has not been used frequently enough to supply
sufficient evidence to evaluate the effectiveness of the Pilot Program.
In order to allow for additional time to compile sufficient evidence as
to the effectiveness of the Pilot Program, the PCX proposes to extend
the Pilot Program for a one-year period ending February 15, 2007. At
the end of the extended Pilot Program the PCX feels it will be able to
supply the Commission with a report summarizing the effectiveness of
the program.
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 51576 (April 19,
2005), 70 FR 21488 (April 26, 2005).
---------------------------------------------------------------------------
2. Basis
The Exchange believes that the proposed rule change is consistent
with section 6(b) of the Act,\6\ in general, and furthers the
objectives of section 6(b)(5) of the Act,\7\ in particular, in that it
is designed to facilitate transactions in securities, 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
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
Written comments on the proposed rule change were neither solicited
nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change 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, it 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
the proposed rule change, the Commission may summarily abrogate such
rule change if it appears to the Commission 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). Pursuant to Rule 19b-4(f)(6)(iii)
under the Act, the Exchange is required to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of 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 Commission notes that the Exchange provided notice of the filing
at least five business days prior to the date of filing.
---------------------------------------------------------------------------
A proposed rule change filed under section 19b-4(f)(6) normally may
not become operative prior to 30 days after the date of its filing.\10\
Rule 19b-4(f)(6)(iii) permits the Commission to designate a shorter
time if such action is consistent with the protection of investors and
the public interest.\11\ PCX has requested that the Commission waive
the 30-day operative delay. The Commission believes that waiving the
30-day operative delay is consistent with the protection of investors
and the public interest so that the Pilot Program may continue until
February 15, 2007 without interruption.\12\
---------------------------------------------------------------------------
\10\ 17 CFR 240.19b-4(f)(6)(iii).
\11\ Id.
\12\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------
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:
[[Page 9407]]
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-PCX-2006-09 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-PCX-2006-09. 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 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-PCX-2006-09 and should be
submitted on or before March 16, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-2535 Filed 2-22-06; 8:45 am]
BILLING CODE 8010-01-P
