Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, and Amendments No. 1 and No. 2 Thereto, Increasing Linkage Inbound Principal Order Fees, 20430-20431 [E6-5916]

Download as PDF 20430 Federal Register / Vol. 71, No. 76 / Thursday, April 20, 2006 / Notices 15A(b)(6) of the Act,5 which requires, among other things, NASD’s rules be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, and, in general, to protect investors and the public interest. The Commission believes that the proposed rule change will improve treatment of customer limit orders and clarify the application of the Manning Rule to nonmarket makers. The Commission believes the anticipated improved treatment of customer limit orders and the clarification of the application of the Manning Rule to non-market makers will benefit investors and the public interest, and therefore, the Commission finds good cause to approve the proposed rule change prior to the 30th day after publication in the Federal Register. It is therefore ordered, pursuant to section 19(b)(2) of the Act 6, that the proposed rule change (SR–NASD–2006– 035) be, and it hereby is, approved on an accelerated basis. BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53650; File No. SR–Phlx– 2006–22] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, and Amendments No. 1 and No. 2 Thereto, Increasing Linkage Inbound Principal Order Fees hsrobinson on PROD1PC61 with NOTICES April 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 March 31, 2006, the Philadelphia Stock Exchange, Inc. (‘‘Phlx’’ 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 Phlx. The Phlx has designated this proposal as one establishing or changing a due, fee, or U.S.C. 78o–3(b)(6). U.S.C. 78s(b)(2). 7 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 6 15 VerDate Aug<31>2005 14:56 Apr 19, 2006 Jkt 208001 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to increase from $0.15 to $0.25 per option contract the fee for P Orders 6 sent to the Exchange via the Intermarket Options Linkage (‘‘Linkage’’) pursuant to the Plan for the Purpose of Creating and Operating an Intermarket Option Linkage (‘‘Plan’’).7 The proposed change to the Exchange’s Summary of Equity Options Charges are set forth below, with new text italicized, and text to be deleted [bracketed]: 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 Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of increasing the charge for P Orders from $0.15 to $0.25 is to establish a fee that is competitive with other exchanges that charge similar or even higher fees for P Orders.8 Consistent with current practice, the Exchange will charge the clearing member organization of the sender of Inbound Linkage P Orders. SUMMARY OF EQUITY OPTIONS CHARGES (p. 2/6) OPTION TRANSACTION CHARGE For the Commission, by the Division of Market Regulation, pursuant to delegated authority.7 Jill M. Peterson, Assistant Secretary. [FR Doc. E6–5915 Filed 4–19–06; 8:45 am] 5 15 other charge imposed by a selfregulatory organization pursuant to section 19(b)(3)(A)(ii) of the Act 3 and Rule 19b–4(f)(2) thereunder,4 which renders the proposal effective upon filing with the Commission. On April 10, 2006, the Exchange filed Amendments No. 1 and No. 2 to the proposed rule change.5 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. * * * * * Linkage ‘‘P’’ [and ‘‘P/A’’] Orders 13— $.[1]25 per contract Linkage ‘‘P/A’’ Orders 13—$.15 per contract 13 No proposed changes to the rule text. * * * * * This proposal is scheduled to become effective for trades settling on or after April 3, 2006 and will remain in effect as part of an existing pilot program, which is scheduled to expire July 31, 2006. 2. Statutory Basis The Exchange believes that its proposal to amend its schedule of fees 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 an equitable allocation of reasonable fees and other charges among Exchange members. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange believes that the proposed rule change will not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. 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 Phlx included statements concerning 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 5 By Amendment No. 1, the Exchange clarified Exhibit 5 by explaining the underlined text would be added and the bracketed text deleted. By Amendment No. 2, the Exchange added new proposed rule text to clarify that, as discussed below, it intends to increase only the Linkage Inbound Principal Order (‘‘P Order’’) fee, not the Linkage Principal Acting as Agent (‘‘P/A Order’’) fee. 6 A Principal Order is an order for the principal account of an Eligible Market Maker. 7 See Securities Exchange Act Release No. 43086 (July 28, 2000), 65 FR 48023 (August 4, 2000) (order approving the Plan), and No. 43573 (November 16, 2000), 65 FR 70851 (November 28, 2000) (order approving Phlx as a participant in the Plan). PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received comments on the proposed rule change. The Phlx has not received any unsolicited written comments from members or other interested parties. 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)(ii) of the Act,11 and paragraph (f)(2) of Rule 19b–4 thereunder 12 because it establishes or 8 See Securities Exchange Act Release No. 52168 (July 29, 2005), 70 FR 45454 (August 5, 2005) (SR– ISE–2005–32), and No. 52073 (July 20, 2005), 70 FR 43474 (July 27, 2005) (SR–CBOE–2005–54). 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). E:\FR\FM\20APN1.SGM 20APN1 Federal Register / Vol. 71, No. 76 / Thursday, April 20, 2006 / Notices changes a due, fee, or other charge. 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.13 IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change, as amended, is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–Phlx–2006–22 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–Phlx–2006–22. 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 (http://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 hsrobinson on PROD1PC61 with NOTICES 13 For purposes of calculating the 60-day period within which the Commission may summarily abrogate the proposed rule change the Commission considers the period to commence on April 10, 2006, the date on which the Phlx filed Amendment No. 2. See 15 U.S.C. 78s(b)(3)(C). VerDate Aug<31>2005 14:56 Apr 19, 2006 Jkt 208001 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 Phlx. 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–Phlx–2006–22 and should be submitted on or before May 11, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.14 Jill M. Peterson, Assistant Secretary. [FR Doc. E6–5916 Filed 4–19–06; 8:45 am] BILLING CODE 8010–01–P SOCIAL SECURITY ADMINISTRATION Agency Information Collection Activities: Comment Request The Social Security Administration (SSA) publishes a list of information collection packages that will require clearance by the Office of Management and Budget (OMB) in compliance with Public Law 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. The information collection package included in this notice is for approval of a new information collection. SSA is soliciting comments on the accuracy of the agency’s burden estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and on ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Written comments and recommendations regarding the information collection(s) should be submitted to the OMB Desk Officer and the SSA Reports Clearance 14 17 PO 00000 CFR 200.30–3(a)(12). Frm 00050 Fmt 4703 Sfmt 4703 20431 Officer. The information can be mailed and/or faxed to the individuals at the addresses and fax numbers listed below: (OMB), Office of Management and Budget, Attn: Desk Officer for SSA, Fax: 202–395–6974. (SSA), Social Security Administration, DCFAM, Attn: Reports Clearance Officer, 1333 Annex Building, 6401 Security Blvd., Baltimore, MD 21235. Fax: 410–965–6400. E-mail: OPLM.RCO@ssa.gov. The information collection listed below has been submitted to OMB for clearance. Your comments on the information collection would be most useful if received by OMB and SSA within 30 days from the date of this publication. You can obtain a copy of the OMB clearance package by calling the SSA Reports Clearance Officer at 410–965–0454, or by writing to the address listed above. Section 107 Representative Payee Study—0960–NEW. As mandated by Section 107 of the Social Security Protection Act of 2004, the Social Security Administration is sponsoring an independently conducted study evaluating the Representative Payee Program. In this study, selected groups of SSA beneficiaries and representative payees will be interviewed about their experiences within the program. These two groups’ responses will then be compared and contrasted. A re-contact study will also be conducted with 100 of the representative payees. The ultimate purpose of the study is to evaluate the knowledge level and performance of representative payees ` vis-a-vis the standards established for them by SSA. The respondents are recipients of SSA benefits (adults and youth ages 14–17) and representative payees (individuals and organizations). Note: Please note that both the organization and numbers in the burden chart are different than those in the 60-day Federal Register Notice. The reason for this change is that the contractors who are conducting this study have made slight alterations to their study plan since the 60-day Notice was published. Type of Request: New information collection. E:\FR\FM\20APN1.SGM 20APN1

Agencies

[Federal Register Volume 71, Number 76 (Thursday, April 20, 2006)]
[Notices]
[Pages 20430-20431]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-5916]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53650; File No. SR-Phlx-2006-22]


Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change, 
and Amendments No. 1 and No. 2 Thereto, Increasing Linkage Inbound 
Principal Order Fees

April 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 March 31, 2006, the Philadelphia Stock Exchange, Inc. (``Phlx'' 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 Phlx. The Phlx has 
designated this proposal as one establishing or changing a due, fee, or 
other charge imposed by a self-regulatory organization pursuant to 
section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) 
thereunder,\4\ which renders the proposal effective upon filing with 
the Commission. On April 10, 2006, the Exchange filed Amendments No. 1 
and No. 2 to the proposed rule change.\5\ The Commission is publishing 
this notice to solicit comments on the proposed rule change, as 
amended, 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).
    \5\ By Amendment No. 1, the Exchange clarified Exhibit 5 by 
explaining the underlined text would be added and the bracketed text 
deleted. By Amendment No. 2, the Exchange added new proposed rule 
text to clarify that, as discussed below, it intends to increase 
only the Linkage Inbound Principal Order (``P Order'') fee, not the 
Linkage Principal Acting as Agent (``P/A Order'') fee.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to increase from $0.15 to $0.25 per option 
contract the fee for P Orders \6\ sent to the Exchange via the 
Intermarket Options Linkage (``Linkage'') pursuant to the Plan for the 
Purpose of Creating and Operating an Intermarket Option Linkage 
(``Plan'').\7\ The proposed change to the Exchange's Summary of Equity 
Options Charges are set forth below, with new text italicized, and text 
to be deleted [bracketed]:
---------------------------------------------------------------------------

    \6\ A Principal Order is an order for the principal account of 
an Eligible Market Maker.
    \7\ See Securities Exchange Act Release No. 43086 (July 28, 
2000), 65 FR 48023 (August 4, 2000) (order approving the Plan), and 
No. 43573 (November 16, 2000), 65 FR 70851 (November 28, 2000) 
(order approving Phlx as a participant in the Plan).
---------------------------------------------------------------------------

SUMMARY OF EQUITY OPTIONS CHARGES (p. 2/6) OPTION TRANSACTION CHARGE
* * * * *
Linkage ``P'' [and ``P/A''] Orders \13\--$.[1]25 per contract
Linkage ``P/A'' Orders \13\--$.15 per contract

    \13\ No proposed changes to the rule text.
* * * * *
    This proposal is scheduled to become effective for trades settling 
on or after April 3, 2006 and will remain in effect as part of an 
existing pilot program, which is scheduled to expire July 31, 2006.

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 Phlx 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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of increasing the charge for P Orders from $0.15 to 
$0.25 is to establish a fee that is competitive with other exchanges 
that charge similar or even higher fees for P Orders.\8\ Consistent 
with current practice, the Exchange will charge the clearing member 
organization of the sender of Inbound Linkage P Orders.
---------------------------------------------------------------------------

    \8\ See Securities Exchange Act Release No. 52168 (July 29, 
2005), 70 FR 45454 (August 5, 2005) (SR-ISE-2005-32), and No. 52073 
(July 20, 2005), 70 FR 43474 (July 27, 2005) (SR-CBOE-2005-54).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal to amend its schedule of 
fees 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 an equitable allocation of reasonable fees 
and other charges among Exchange members.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange believes that the proposed rule change will not 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 has neither solicited nor received comments on the 
proposed rule change. The Phlx has not received any unsolicited written 
comments from members or other interested parties.

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)(ii) of the Act,\11\ and paragraph (f)(2) of Rule 
19b-4 thereunder \12\ because it establishes or

[[Page 20431]]

changes a due, fee, or other charge. 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.\13\
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \12\ 17 CFR 240.19b-4(f)(2).
    \13\ For purposes of calculating the 60-day period within which 
the Commission may summarily abrogate the proposed rule change the 
Commission considers the period to commence on April 10, 2006, the 
date on which the Phlx filed Amendment No. 2. See 15 U.S.C. 
78s(b)(3)(C).
---------------------------------------------------------------------------

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change, as amended, is consistent with the Act. Comments may be 
submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-Phlx-2006-22 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-Phlx-2006-22. 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 (http://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 Phlx. 
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-Phlx-2006-22 
and should be submitted on or before May 11, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Jill M. Peterson,
Assistant Secretary.
[FR Doc. E6-5916 Filed 4-19-06; 8:45 am]
BILLING CODE 8010-01-P