Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Correction of Erroneous Cross References in the Rules of the Boston Options Exchange Facility, 29370-29371 [E6-7719]

Download as PDF 29370 Federal Register / Vol. 71, No. 98 / Monday, May 22, 2006 / Notices Frequency of Use: Once per major sponsor, per project. Type of Respondents: Business or other institutions. Standard Industrial Classification Codes: All. Description of Affected Public: U.S. Companies sponsoring projects overseas. Reporting Hours: 5 hours per project. Number of Responses: 300 per year. Federal Cost: $66,000 per year. Authority for Information Collection: Sections 231, 234(b), and (c) of the Foreign Assistance Act of 1961, as amended. Abstract (Needs and Uses): The OPIC 129 form is the principal document used by OPIC to determine the investor’s and project’s eligibility, assess the environmental impact and developmental effects of the project, measure the economic effects for the United States and the host country economy, and collect information for underwriting analysis. the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. Act,6 in particular, in that it is designed to promote just and equitable principles of trade, and to protect investors and the public interest. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change 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. Dated: May 16, 2006. Eli Landy, Senior Counsel for Administrative Law, Department of Legal Affairs. [FR Doc. 06–4708 Filed 5–19–06; 8:45 am] In its filing with the Commission, the BSE 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 BSE has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. BILLING CODE 3210–01–M SECURITIES AND EXCHANGE COMMISSION [Release No. 34–53809; File No. SR–BSE– 2006–13] Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Correction of Erroneous Cross References in the Rules of the Boston Options Exchange Facility cchase on PROD1PC60 with NOTICES May 16, 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 April 24, 2006, the Boston Stock Exchange, Inc. (‘‘BSE’’ 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 BSE. The BSE has filed the proposed rule change pursuant to section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(1) thereunder,4 which renders the proposal effective upon filing with 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)(1) 2 17 VerDate Aug<31>2005 20:16 May 19, 2006 The Exchange proposes to amend Section 20 (Obvious Errors) of Chapter V, Section 10 (Limitations on Dealings) and Section 11 (Short Sales in Nasdaq National Market Securities) of Chapter VI, and Section 2 (Penalty for Rule Violations) of Chapter X of the Rules of the Boston Options Exchange (‘‘BOX’’) to correct erroneous cross references. The text of the proposed rule change is available on the Exchange’s Internet Web site (http://bostonstock.com), at the principal office of the BSE, 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 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 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. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change constitutes a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule, it has become effective pursuant to section 19(b)(3)(A) of the Act 7 and Rule 19b– 4(f)(1) 8 thereunder. At any time within 60 days of the filing of the proposed rule change the Commission may summarily abrogate such proposed 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. 1. Purpose The BSE is proposing several changes in Section 20 (Obvious Errors) of Chapter V, Section 10 (Limitations on Dealings) and Section 11 (Short Sales in Nasdaq National Market Securities) of Chapter VI, and Section 2 (Penalty for Rule Violations) of Chapter X of the BOX Rules. These rule sections contain erroneous cross references to both BSE and BOX Rules. The Exchange proposes to correct these cross references to reflect the correct corresponding rule(s) of the BOX or BSE Rules so that the Exchange’s rules are accurate, comprehendible, and transparent to the marketplace. 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 (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include SR– BSE–2006–13 on the subject line. 2. Statutory Basis The Exchange believes that the proposal is consistent with the requirements of section 6(b) of the Act,5 in general, and section 6(b)(5) of the 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–BSE–2006–13. This file 6 15 U.S.C. 78f(b)(5). U.S.C. 78s(b)(3)(A). 8 17 CFR 19b–4(f)(1). 7 15 5 15 Jkt 208001 PO 00000 U.S.C. 78f(b). Frm 00084 Fmt 4703 Sfmt 4703 E:\FR\FM\22MYN1.SGM 22MYN1 Federal Register / Vol. 71, No. 98 / Monday, May 22, 2006 / Notices 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 the 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–BSE–2006–13 and should be submitted on or before June 12, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Jill M. Peterson, Assistant Secretary. [FR Doc. E6–7719 Filed 5–19–06; 8:45 am] * * * * Doing Business on the Exchange Floor (Rules 6.1–6.85) * * * * * Section C: Trading Practices and Procedures [Release No. 34–53808; File No. SR–CBOE– 2006–33] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Accommodation Liquidations (Cabinet Trades) May 16, 2006. cchase on PROD1PC60 with NOTICES Chicago Board Options Exchange, Incorporated Rules Chapter VI SECURITIES AND EXCHANGE COMMISSION 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 May 4, 2006, the Chicago Board Options Exchange, Incorporated (‘‘Exchange’’ or ‘‘CBOE’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described * * * * * Rule 6.54. Accommodation Liquidations (Cabinet Trades) Cabinet t[T]rading under the following terms and conditions shall be available in each series of option contracts open for trading on the Exchange. (a) For classes not trading on the CBOE Hybrid System: (i) Trading shall be conducted in accordance with other CBOE Rules except as otherwise provided herein. (ii) Limit orders labeled at a price of $1 per option contract must be placed with the Order Book Official or with a Floor Broker. (iii) Orders may be placed for customer, firm, and Market-Maker 3 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 5 Accommodation liquidations are transactions to close out positions in worthless or nearly worthless out-of-the-money option contracts. 4 17 9 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 20:16 May 19, 2006 I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend the provisions of CBOE Rule 6.54 that pertain to accommodation liquidations (also referred to as ‘‘cabinet trades’’) 5 to authorize PAR Officials and Floor Brokers to represent cabinet orders on the Exchange. The Exchange is also proposing various other non-substantive changes to reorganize and update the existing text in CBOE Rule 6.54 and to update references in the heading of Chapter VII of the CBOE rulebook and CBOE Rule 7.4. The text of the proposed rule change is set forth below. Additions are in italics and deletions are in [brackets]. * * * * * * BILLING CODE 8010–01–P VerDate Aug<31>2005 in Items I and II below, which Items have been prepared by the Exchange. CBOE has designated this proposal as non-controversial under section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(6) 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. Jkt 208001 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 29371 accounts and, to the extent such orders are placed with the Order Book Official, priority in the cabinet book will be based upon the sequence in which such orders are placed with the Order Book Official. [(iii)](iv) Bids or offers for opening transactions at a price of $1 per option contract may be placed with the Order Book Official only to the extent that the [public order book] cabinet book contains unexecuted contra closing orders with which the opening orders immediately may be matched. Bids and offers at a price of $1 per option contract may also be provided in response to a request for quote by an Order Book Official or a Floor Broker, but must yield priority to all orders in the cabinet book. [(iv) Orders may be placed for customer, firm, and Market-Maker accounts, with priority based upon the sequence in which such orders are placed with the Order Book Official.] (v) Market-Makers shall not be subject to the requirements of Rule 8.7 for orders placed pursuant to this Rule. (vi) The Order Book Official appointed to each class of option contracts shall be responsible for $1 orders that are placed with him for that class. All bids and offers that are submitted to the Order Book Official must be submitted to the Order Book Official in writing and displayed as such in accordance with Rule 7.7, and the Order Book Official shall effect [all such] transactions during the day by matching such orders placed with him or by executing such orders placed with him with a Floor Broker representing a contra order. (vii) All cabinet transactions at a price of $1 per option contract shall be reported to the Exchange following the close of each business day. (b) For classes trading on the CBOE Hybrid System: (i) Trading shall be conducted in accordance with other CBOE Rules except as otherwise provided herein. (ii) Limit orders labeled at a price of $1 per option contract must be traded on the Exchange in a form and manner prescribed by the Exchange. Currently, accommodation liquidations are only eligible for Exchange trading via open outcry and hence are not eligible for placement into the Electronic Book. . . . Interpretations and Policies .01 Order Book Official: An Order Book Official who receives a closing buy (sell) order for $1 per option contract shall attempt to execute the order against any $1 closing sell (buy) orders in his possession. If any part of the buy (sell) order cannot be immediately E:\FR\FM\22MYN1.SGM 22MYN1

Agencies

[Federal Register Volume 71, Number 98 (Monday, May 22, 2006)]
[Notices]
[Pages 29370-29371]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-7719]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53809; File No. SR-BSE-2006-13]


Self-Regulatory Organizations; Boston Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to Correction of Erroneous Cross References in the Rules of 
the Boston Options Exchange Facility

May 16, 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 April 24, 2006, the Boston Stock Exchange, Inc. (``BSE'' 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 BSE. The BSE has 
filed the proposed rule change pursuant to section 19(b)(3)(A) of the 
Act \3\ and Rule 19b-4(f)(1) thereunder,\4\ which renders the proposal 
effective upon filing with the Commission. The Commission is publishing 
this notice to solicit comments on the proposed rule change from 
interested persons.
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    \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)(1)
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend Section 20 (Obvious Errors) of 
Chapter V, Section 10 (Limitations on Dealings) and Section 11 (Short 
Sales in Nasdaq National Market Securities) of Chapter VI, and Section 
2 (Penalty for Rule Violations) of Chapter X of the Rules of the Boston 
Options Exchange (``BOX'') to correct erroneous cross references. The 
text of the proposed rule change is available on the Exchange's 
Internet Web site (http://bostonstock.com), at the principal office of 
the BSE, 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 BSE 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 BSE 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 BSE is proposing several changes in Section 20 (Obvious Errors) 
of Chapter V, Section 10 (Limitations on Dealings) and Section 11 
(Short Sales in Nasdaq National Market Securities) of Chapter VI, and 
Section 2 (Penalty for Rule Violations) of Chapter X of the BOX Rules. 
These rule sections contain erroneous cross references to both BSE and 
BOX Rules. The Exchange proposes to correct these cross references to 
reflect the correct corresponding rule(s) of the BOX or BSE Rules so 
that the Exchange's rules are accurate, comprehendible, and transparent 
to the marketplace.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the 
requirements of section 6(b) of the Act,\5\ in general, and section 
6(b)(5) of the Act,\6\ in particular, in that it is designed to promote 
just and equitable principles of trade, and to protect investors and 
the public interest.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 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

    The Exchange has neither solicited nor received comments on the 
proposed rule change.

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

    Because the foregoing proposed rule change constitutes a stated 
policy, practice, or interpretation with respect to the meaning, 
administration, or enforcement of an existing rule, it has become 
effective pursuant to section 19(b)(3)(A) of the Act \7\ and Rule 19b-
4(f)(1) \8\ thereunder. At any time within 60 days of the filing of the 
proposed rule change the Commission may summarily abrogate such 
proposed 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 19b-4(f)(1).
---------------------------------------------------------------------------

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 (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
SR-BSE-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-BSE-2006-13. This file

[[Page 29371]]

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 the 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-BSE-2006-13 and should be submitted on or before June 12, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
 [FR Doc. E6-7719 Filed 5-19-06; 8:45 am]
BILLING CODE 8010-01-P