Self-Regulatory Organizations; Pacific Exchange, Inc. (n/k/a NYSE Arca, Inc.); Order Granting Approval to Proposed Rule Change Relating to Trade Shredding, 26165 [E6-6640]

Download as PDF Federal Register / Vol. 71, No. 85 / Wednesday, May 3, 2006 / Notices 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 Exchange consents, the Commission will: A. By order approve the proposed rule change, as amended, 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, as amended, is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments jlentini on PROD1PC65 with NOTICES • 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–NSX–2006–03 on the subject line. Number SR–NSX–2006–03 and should be submitted on or before May 24, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.125 Nancy M. Morris, Secretary. [FR Doc. E6–6637 Filed 5–2–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53710; File No. SR–PCX– 2006–10] Self-Regulatory Organizations; Pacific Exchange, Inc. (n/k/a NYSE Arca, Inc.); Order Granting Approval to Proposed Rule Change Relating to Trade Shredding April 24, 2006. I. Introduction On February 3, 2006, the Pacific Exchange, Inc. (‘‘PCX’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) pursuant Paper Comments to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule • Send paper comments in triplicate 19b–4 thereunder,2 a proposed rule to Nancy M. Morris, Secretary, change relating to trade shredding.3 The Securities and Exchange Commission, proposed rule change was published for 100 F Street, NE., Washington, DC comment in the Federal Register on 20549–1090. March 20, 2006.4 The Commission All submissions should refer to File received no comments on the proposal. Number SR–NSX–2006–03. This file This order approves the proposed rule number should be included on the subject line if e-mail is used. To help the change. Commission process and review your II. Description of the Proposal comments more efficiently, please use The Exchange proposed to amend its only one method. The Commission will rules governing the NYSE Arca post all comments on the Commission’s Marketplace, the equities trading facility Internet Web site (https://www.sec.gov/ of the NYSE Arca Equities, Inc., to rules/sro.shtml). Copies of the prohibit the practice of splitting orders submission, all subsequent into multiple smaller orders for any amendments, all written statements purpose other than seeking the best with respect to the proposed rule execution of the entire order. change that are filed with the III. Discussion and Commission Commission, and all written Findings communications relating to the proposed rule change between the The Commission has reviewed Commission and any person, other than carefully the proposed rule change and those that may be withheld from the finds that it is consistent with the public in accordance with the requirements of the Act and the rules provisions of 5 U.S.C. 552, will be available for inspection and copying in 125 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(l). the Commission’s Public Reference 2 17 CFR 240.19b–4. Room. Copies of the filing also will be 3 On March 6, 2006, the Exchange filed with the available for inspection and copying at the principal office of the Exchange. All Commission a proposed rule change, which was effective upon filing, to change the name of the comments received will be posted Exchange, as well as several other related entities, without change; the Commission does to reflect the recent acquisition of PCX by Archipelago Holdings, Inc. (‘‘Archipelago’’) and the not edit personal identifying merger of the NYSE with Archipelago. See File No. information from submissions. You SR–PCX–2006–24. All references herein have been should submit only information that changed to reflect the aforementioned rule change. you wish to make available publicly. All 4 See Securities Exchange Act Release No. 53469 (March 10, 2006), 71 FR 14045. submissions should refer to File VerDate Aug<31>2005 15:36 May 02, 2006 Jkt 208001 PO 00000 Frm 00148 Fmt 4703 Sfmt 4703 26165 and regulations thereunder applicable to a national securities exchange,5 particularly section 6(b)(5) of the Act which, among other things, requires that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating securities transactions, to remove impediments to and to perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest.6 The Commission believes that the proposed rule change should help eliminate the distortive practice of trade shredding, and, therefore, promote just and equitable principles of trade. IV. Conclusion It is therefore ordered, pursuant to section 19(b)(2) of the Act,7 that the proposed rule change (File No. SR– PCX–2006–10), be and hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.8 Nancy M. Morris, Secretary. [FR Doc. E6–6640 Filed 5–2–06; 8:45 am] BILLING CODE 8010–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #10454] California Disaster #CA–00031 Declaration of Economic Injury Small Business Administration. Notice. AGENCY: ACTION: SUMMARY: This is a notice of an Economic Injury Disaster Loan (EIDL) declaration for the State of California, dated 4/25/2006. Incident: Severe mudslide. Incident Period: 3/26/2006 and continuing. Effective Date: 4/25/2006. EIDL Loan Application Deadline Date: 1/25/2007. ADDRESSES: Submit completed loan applications to: Small Business Administration, National Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, 5 In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b)(5). 7 15 U.S.C. 78s(b)(2). 8 17 CFR 200.30–3(a)(12). E:\FR\FM\03MYN1.SGM 03MYN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 71, Number 85 (Wednesday, May 3, 2006)]
[Notices]
[Page 26165]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-6640]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53710; File No. SR-PCX-2006-10]


Self-Regulatory Organizations; Pacific Exchange, Inc. (n/k/a NYSE 
Arca, Inc.); Order Granting Approval to Proposed Rule Change Relating 
to Trade Shredding

April 24, 2006.

I. Introduction

    On February 3, 2006, the Pacific Exchange, Inc. (``PCX'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') pursuant to section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change relating to trade shredding.\3\ The proposed rule 
change was published for comment in the Federal Register on March 20, 
2006.\4\ The Commission received no comments on the proposal. This 
order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(l).
    \2\ 17 CFR 240.19b-4.
    \3\ On March 6, 2006, the Exchange filed with the Commission a 
proposed rule change, which was effective upon filing, to change the 
name of the Exchange, as well as several other related entities, to 
reflect the recent acquisition of PCX by Archipelago Holdings, Inc. 
(``Archipelago'') and the merger of the NYSE with Archipelago. See 
File No. SR-PCX-2006-24. All references herein have been changed to 
reflect the aforementioned rule change.
    \4\ See Securities Exchange Act Release No. 53469 (March 10, 
2006), 71 FR 14045.
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II. Description of the Proposal

    The Exchange proposed to amend its rules governing the NYSE Arca 
Marketplace, the equities trading facility of the NYSE Arca Equities, 
Inc., to prohibit the practice of splitting orders into multiple 
smaller orders for any purpose other than seeking the best execution of 
the entire order.

III. Discussion and Commission Findings

    The Commission has reviewed carefully the proposed rule change and 
finds that it is consistent with the requirements of the Act and the 
rules and regulations thereunder applicable to a national securities 
exchange,\5\ particularly section 6(b)(5) of the Act which, among other 
things, requires that the rules of a national securities exchange be 
designed to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in regulating 
securities transactions, to remove impediments to and to perfect the 
mechanism of a free and open market and a national market system and, 
in general, to protect investors and the public interest.\6\ The 
Commission believes that the proposed rule change should help eliminate 
the distortive practice of trade shredding, and, therefore, promote 
just and equitable principles of trade.
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    \5\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f(b)(5).
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IV. Conclusion

    It is therefore ordered, pursuant to section 19(b)(2) of the 
Act,\7\ that the proposed rule change (File No. SR-PCX-2006-10), be and 
hereby is, approved.
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    \7\ 15 U.S.C. 78s(b)(2).
    \8\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\8\
Nancy M. Morris,
Secretary.
 [FR Doc. E6-6640 Filed 5-2-06; 8:45 am]
BILLING CODE 8010-01-P

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