Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of Filing of Proposed Rule Change To Reduce the Fee Charged to a Lead Market Maker When It Transfers Options Issues to Another Lead Market Maker, 14046-14047 [E6-3985]

Download as PDF 14046 Federal Register / Vol. 71, No. 53 / Monday, March 20, 2006 / Notices 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 Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. 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 the filing also will be available for inspection and copying at the principal offices of NYSE Arca, Inc. 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–2006–10 and should be submitted on or before April 10, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.6 Nancy M. Morris, Secretary. [FR Doc. E6–3984 Filed 3–17–06; 8:45 am] BILLING CODE 8010–01–P 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: SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53476; File No. SR–PCX– 2006–14] 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–PCX–2006–10 on the subject line. Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of Filing of Proposed Rule Change To Reduce the Fee Charged to a Lead Market Maker When It Transfers Options Issues to Another Lead Market Maker March 13, 2006. wwhite on PROD1PC61 with NOTICES 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–2006–10. 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 VerDate Aug<31>2005 21:08 Mar 17, 2006 Jkt 208001 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 23, 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, II and III below, which Items have been prepared by the PCX. 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 is proposing to modify its rate schedule retroactive to September 26, 2005 to allow for the Exchange to reduce the fee it charges a Lead Market Maker (‘‘LMM’’) when it transfers options issues to another 6 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 PO 00000 Frm 00103 Fmt 4703 Sfmt 4703 LMM. The text of the proposed rule change is available on the Exchange’s Web site, https://www.archipelago.com, at the Exchange’s Office of the Secretary, 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, 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 PCX 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 purpose of this filing is to reduce the fee that the PCX charges an LMM, when the LMM transfers an allocated options issue to another LMM. The PCX presently charges an LMM a $1000 fee, per issue, in the event that the LMM transfers the issue to another LMM, in accordance with the PCX allocation procedures. The $1000 per issue fee is subject to a cap when multiple issues are included as part of the same transfer. Under this proposal, the new fee will be $100 per issue transferred. The new lower fee will not be subject to a rate cap when multiple issues are transferred. On September 26, 2005, Archipelago Holdings Inc. acquired the PCX. After reviewing fees and charges, new management has determined that for business purposes certain fees should be changed. The $1000 fee that the PCX previously assessed LMMs was originally established to offset the cost associated with issue transfers. At this time, the PCX is willing to absorb most of the costs associated with issue transfers, and the PCX has determined that the proposed $100 per issue transfer fee is warranted. The Exchange proposes to make this fee effective retroactive to September 26, 2005, which coincides with the date that Archipelago Holdings Inc. acquired the Exchange. The PCX will review all transfers that have occurred or may occur from September 26, 2005 through the effective date of this proposal and will make any fee adjustments that are E:\FR\FM\20MRN1.SGM 20MRN1 Federal Register / Vol. 71, No. 53 / Monday, March 20, 2006 / Notices 2. Statutory Basis The Exchange believes that the proposal is consistent with Section 6(b) 3 of the Act, in general, and Section 6(b)(4) 4 of the Act, in particular, in that it provides for the equitable allocation of reasonable dues, fees, and other charges among its members. 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 The Exchange did not solicit or receive any written comments with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: A. By order approve the proposed rule change, or B. Institute proceedings to determine whether the proposed rule change should be disapproved. 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: wwhite on PROD1PC61 with NOTICES 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–PCX–2006–14 on the subject line. 4 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). VerDate Aug<31>2005 20:35 Mar 17, 2006 Incident Period: 12/30/2005 through 01/04/2006. • Send paper comments in triplicate Effective Date: 02/27/2006. to Nancy M. Morris, Secretary, Physical Loan Application Deadline Securities and Exchange Commission, Date: 04/28/2006. Station Place, 100 F Street NE., ADDRESSES: Submit completed loan Washington, DC 20549–1090. applications to: Small Business All submissions should refer to File Administration, National Processing Number SR–PCX–2006–14. This file And Disbursement Center, 14925 number should be included on the Kingsport Road, Fort Worth, TX 76155. subject line if e-mail is used. To help the FOR FURTHER INFORMATION CONTACT: A. Commission process and review your Escobar, Office of Disaster Assistance, comments more efficiently, please use U.S. Small Business Administration, only one method. The Commission will 409 3rd Street, SW., Suite 6050, post all comments on the Commission’s Washington, DC 20416. Internet Web site (https://www.sec.gov/ SUPPLEMENTARY INFORMATION: Notice is rules/sro.shtml). Copies of the hereby given that as a result of the submission, all subsequent President’s major disaster declaration on amendments, all written statements 02/27/2006, applications for Private with respect to the proposed rule Non-Profit organizations that provide change that are filed with the essential services of a governmental Commission, and all written nature may file disaster loan communications relating to the applications at the address listed above proposed rule change between the Commission and any person, other than or other locally announced locations. The following areas have been those that may be withheld from the determined to be adversely affected by public in accordance with the the disaster: provisions of 5 U.S.C. 552, will be Primary Counties: available for inspection and copying in Owyhee the Commission’s Public Reference The Interest Rates are: Room. Copies of such filing also will be available for inspection and copying at Percent the principal office of the PCX. All comments received will be posted Other (Including Non-Profit Orgawithout change; the Commission does nizations) with Credit Available Elsewhere ................................. 5.000 not edit personal identifying Businesses And Non-Profit Orgainformation from submissions. You nizations without Credit Availshould submit only information that able Elsewhere ......................... 4.000 you wish to make available publicly. All submissions should refer to File The number assigned to this disaster Number SR–PCX–2006–14 and should for physical damage is 10424. be submitted on or before April 10, (Catalog of Federal Domestic Assistance 2006. Paper Comments deemed warranted pursuant to the proposed rate schedule contained in this filing. 3 15 For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5 Nancy M. Morris, Secretary. [FR Doc. E6–3985 Filed 3–17–06; 8:45 am] Number 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E6–3953 Filed 3–17–06; 8:45 am] BILLING CODE 8025–01–P BILLING CODE 8010–01–P SMALL BUSINESS ADMINISTRATION SMALL BUSINESS ADMINISTRATION [Disaster Declaration #10205 and #10206] [Disaster Declaration #10424] Louisiana Disaster Number LA–00004 Idaho Disaster #ID–00003 AGENCY: Small Business Administration. Notice. AGENCY: ACTION: SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of Idaho (FEMA–1630–DR), dated 02/27/2006. Incident: Severe Storms and Flooding. 5 17 Jkt 208001 14047 PO 00000 CFR 200.30–3(a)(12). Frm 00104 Fmt 4703 Sfmt 4703 ACTION: Small Business Administration. Amendment 11. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Louisiana (FEMA–1607–DR), dated 09/24/2005. Incident: Hurricane Rita. Incident Period: 09/23/2005 through 11/01/2005. Effective Date: 03/10/2006. Physical Loan Application Deadline Date: 04/10/2006. E:\FR\FM\20MRN1.SGM 20MRN1

Agencies

[Federal Register Volume 71, Number 53 (Monday, March 20, 2006)]
[Notices]
[Pages 14046-14047]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-3985]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53476; File No. SR-PCX-2006-14]


Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of 
Filing of Proposed Rule Change To Reduce the Fee Charged to a Lead 
Market Maker When It Transfers Options Issues to Another Lead Market 
Maker

March 13, 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 23, 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, II 
and III below, which Items have been prepared by the PCX. 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.
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange is proposing to modify its rate schedule retroactive 
to September 26, 2005 to allow for the Exchange to reduce the fee it 
charges a Lead Market Maker (``LMM'') when it transfers options issues 
to another LMM. The text of the proposed rule change is available on 
the Exchange's Web site, https://www.archipelago.com, at the Exchange's 
Office of the Secretary, 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, 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 PCX 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 purpose of this filing is to reduce the fee that the PCX 
charges an LMM, when the LMM transfers an allocated options issue to 
another LMM. The PCX presently charges an LMM a $1000 fee, per issue, 
in the event that the LMM transfers the issue to another LMM, in 
accordance with the PCX allocation procedures. The $1000 per issue fee 
is subject to a cap when multiple issues are included as part of the 
same transfer. Under this proposal, the new fee will be $100 per issue 
transferred. The new lower fee will not be subject to a rate cap when 
multiple issues are transferred.
    On September 26, 2005, Archipelago Holdings Inc. acquired the PCX. 
After reviewing fees and charges, new management has determined that 
for business purposes certain fees should be changed. The $1000 fee 
that the PCX previously assessed LMMs was originally established to 
offset the cost associated with issue transfers. At this time, the PCX 
is willing to absorb most of the costs associated with issue transfers, 
and the PCX has determined that the proposed $100 per issue transfer 
fee is warranted. The Exchange proposes to make this fee effective 
retroactive to September 26, 2005, which coincides with the date that 
Archipelago Holdings Inc. acquired the Exchange. The PCX will review 
all transfers that have occurred or may occur from September 26, 2005 
through the effective date of this proposal and will make any fee 
adjustments that are

[[Page 14047]]

deemed warranted pursuant to the proposed rate schedule contained in 
this filing.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section 
6(b) \3\ of the Act, in general, and Section 6(b)(4) \4\ of the Act, in 
particular, in that it provides for the equitable allocation of 
reasonable dues, fees, and other charges among its members.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f(b).
    \4\ 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

    The Exchange did not solicit or receive any written comments with 
respect to the proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Within 35 days of the date of publication of this notice in the 
Federal Register or within such longer period (i) as the Commission may 
designate up to 90 days of such date if it finds such longer period to 
be appropriate and publishes its reasons for so finding or (ii) as to 
which the self-regulatory organization consents, the Commission will:
    A. By order approve the proposed rule change, or
    B. Institute proceedings to determine whether the proposed rule 
change should be disapproved.

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-PCX-2006-14 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-PCX-2006-14. 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 Room. Copies of such 
filing also will be available for inspection and copying at the 
principal office of the PCX. 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-2006-14 and should be submitted on or before April 
10, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\5\
---------------------------------------------------------------------------

    \5\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Nancy M. Morris,
Secretary.
 [FR Doc. E6-3985 Filed 3-17-06; 8:45 am]
BILLING CODE 8010-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.