Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Pilot Period Applicable to CBOE's Listing and Trading of Options on the iShares MSCI Emerging Markets Index Fund, 33322-33323 [E6-8880]
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33322
Federal Register / Vol. 71, No. 110 / Thursday, June 8, 2006 / Notices
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[FR Doc. E6–8922 Filed 6–7–06; 8:45 am]
cprice-sewell on PROD1PC66 with NOTICES
BILLING CODE 7590–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53930; File No. SR–CBOE–
2006–56]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to the Extension
of the Pilot Period Applicable to
CBOE’s Listing and Trading of Options
on the iShares MSCI Emerging Markets
Index Fund
June 1, 2006.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on May 31,
2006, the Chicago Board Options
Exchange, Incorporated (‘‘Exchange’’ or
‘‘CBOE’’) filed with the Securities and
Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the Exchange. The Exchange filed
this proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
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.5 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 Chicago Board Options Exchange,
Incorporated (‘‘CBOE’’ or ‘‘Exchange’’)
proposes to extend the pilot period
applicable to CBOE’s listing and trading
of options on the iShares MSCI
Emerging Markets Index Fund (‘‘Fund
Options’’). CBOE is not proposing any
textual changes to the rules of CBOE.
The text of the proposed rule change is
available on the Exchange’s Web site
(https://www.cboe.com), the Office of the
Secretary, CBOE, and at the
Commission’s Public Reference Room.
1 15
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(6).
5 The Exchange requested the Commission to
waive the five-day pre-filing notice requirement and
the 30-day operative delay, as specified in Rule
19b–4(f)(6)(iii). 17 CFR 240.19b–4(f)(6)(iii).
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15:37 Jun 07, 2006
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II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
CBOE 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 those
statements may be examined at the
places specified in Item IV below. The
CBOE has prepared summaries, set forth
in sections A, B, and C below, of the
most significant parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
On April 10, 2006, the Securities and
Exchange Commission (‘‘Commission’’)
approved a CBOE proposal (SR–CBOE–
2006–32) to list and trade Fund
Options.6 SR–CBOE–2006–32 was
approved for a sixty-day pilot period
that is due to expire on June 9, 2006
(‘‘Pilot’’). The Fund Options will
continue to meet substantially all of the
listing and maintenance standards in
CBOE Rules 5.3.06 and 5.4.08,
respectively. For the requirements that
are not met, the Exchange continues to
represent that sufficient mechanisms
exist that would provide the Exchange
with adequate surveillance and
regulatory information with respect to
the Fund. Continuation of the Pilot
would permit the Exchange to continue
to work with the Bolsa Mexicana de
Valores (‘‘Bolsa’’) to develop a
surveillance sharing agreement.7
Accordingly, the Exchange proposes
to extend the Pilot for an additional
ninety-days, until September 7, 2006.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the Act
and the rules and regulations
thereunder applicable to a national
securities exchange and, in particular,
the requirements of Section 6(b) of the
Act.8 Specifically, the Exchange
believes the proposed rule change is
consistent with the Section 6(b)(5) Act 9
requirements that the rules of an
6 See Securities Exchange Act Release No. 53621
(April 10, 2006), 71 FR 19568 (April 14, 2006) (SR–
CBOE–2006–32).
7 Telephone conference between Patrick Sexton,
Associate General Counsel, Exchange, Bill Speth,
Director of Research, Exchange, and Geoffrey
Pemble, Special Counsel, Division, Commission, on
June 1, 2006.
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(5).
E:\FR\FM\08JNN1.SGM
08JNN1
Federal Register / Vol. 71, No. 110 / Thursday, June 8, 2006 / Notices
exchange be designed to promote just
and equitable principles of trade, to
prevent fraudulent and manipulative
acts and, in general, to protect investors
and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition that is not
necessary or appropriate in furtherance
of purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received with respect to the
proposed rule change.
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) of the Act 10 and
Rule 19b–4(f)(6) thereunder 11 because
the proposed rule change: (1) Does not
significantly affect the protection of
investors or the public interest; (2) does
not impose any significant burden on
competition; and (3) does not become
operative for 30 days from the date of
filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest pursuant to Section
19(b)(3)(A) of the Act 12 and Rule 19b–
4(f)(6) 13 thereunder.
The Exchange has requested that the
Commission waive the five-day prefiling notice requirement and the 30-day
operative delay.14 The Commission is
exercising its authority to waive the
five-day pre-filing notice requirement
and believes that the waiver of the 30day operative delay is consistent with
the protection of investors and the
public interest. Waiver of the five-day
pre-filing and 30-day operative periods
will extend the Pilot, which would
otherwise expire on June 9, 2006, and
allow the Exchange to continue in its
efforts to obtain a surveillance
agreement with the Bolsa. Accordingly,
the Commission designates the proposal
to be effective and operative upon filing
with the Commission.15
cprice-sewell on PROD1PC66 with NOTICES
10 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
12 15 U.S.C. 78s(b)(3)(A).
13 17 CFR 240.19b–4(f)(6).
14 17 CFR 240.19b–4(f)(6)(iii).
15 For the purposes only of waiving the operative
date of this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. 15
U.S.C. 78c(f).
11 17
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15:37 Jun 07, 2006
Jkt 208001
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 the furtherance of the
purposes of the Act.
33323
Number SR–CBOE–2006–56 and should
be submitted on or before June 29, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.16
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6–8880 Filed 6–7–06; 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:
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–CBOE–2006–56 on the
subject line.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53923; File No. SR–CBOE–
2006–47]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Relating to its Marketing
Fee Program
June 1, 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 May 11,
Paper comments:
2006, the Chicago Board Options
• Send paper comments in triplicate
Exchange, Incorporated (‘‘CBOE’’ or
to Nancy M. Morris, Secretary,
‘‘Exchange’’) filed with the Securities
Securities and Exchange Commission,
and Exchange Commission
100 F Street, NE, Washington, DC
(‘‘Commission’’) the proposed rule
20549–1090.
change as described in Items I, II, and
All submissions should refer to File
III below, which Items have been
Number SR–CBOE–2006–56. This file
prepared by the Exchange. The CBOE
number should be included on the
has designated this proposal as one
subject line if e-mail is used. To help the establishing or changing a due, fee, or
Commission process and review your
other charge imposed by the CBOE
comments more efficiently, please use
under Section 19(b)(3)(A)(ii) of the Act 3
only one method. The Commission will and Rule 19b–4(f)(2) thereunder,4 which
post all comments on the Commission’s renders the proposal effective upon
Internet Web site (https://www.sec.gov/
filing with the Commission. The
rules/sro.shtml). Copies of the
Commission is publishing this notice to
submission, all subsequent
solicit comments on the proposed rule
amendments, all written statements
change from interested persons.
with respect to the proposed rule
I. Self-Regulatory Organization’s
change that are filed with the
Statement of the Terms of Substance of
Commission, and all written
the Proposed Rule Change
communications relating to the
proposed rule change between the
The CBOE proposes to amend its Fees
Commission and any person, other than Schedule and its marketing fee
those that may be withheld from the
program.Below is the text of the
public in accordance with the
proposed rule change. Proposed new
provisions of 5 U.S.C. 552, will be
language is in italics; deleted language
available for inspection and copying in
is in [brackets].
the Commission’s Public Reference
Chicago Board Options Exchange, Inc.
Section, 100 F Street, NE., Washington,
Fees Schedule
DC 20549–1090. Copies of such filing
also will be available for inspection and [MAY 1]May 11, 2006
copying at the principal office of the
1.
No Change.
CBOE. All comments received will be
2.
Marketing Fee (6)(16) ........
$.65
posted without change; the Commission
does not edit personal identifying
16 17 CFR 200.30–3(a)(12).
information from submissions. You
1 15 U.S.C. 78s(b)(1).
should submit only information that
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
you wish to make available publicly. All
4 17 CFR 240.19b–4(f)(2).
submissions should refer to File
PO 00000
Frm 00046
Fmt 4703
Sfmt 4703
E:\FR\FM\08JNN1.SGM
08JNN1
]]>Agencies
[Federal Register Volume 71, Number 110 (Thursday, June 8, 2006)]
[Notices]
[Pages 33322-33323]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-8880]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53930; File No. SR-CBOE-2006-56]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Relating to the Extension of the Pilot Period Applicable to
CBOE's Listing and Trading of Options on the iShares MSCI Emerging
Markets Index Fund
June 1, 2006.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on May 31, 2006, the Chicago Board Options Exchange, Incorporated
(``Exchange'' or ``CBOE'') filed with the Securities and Exchange
Commission (the ``Commission'') the proposed rule change as described
in Items I and II below, which Items have been prepared by the
Exchange. The Exchange filed this proposal as a ``non-controversial''
proposed rule change pursuant to 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.\5\ 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)(iii).
\4\ 17 CFR 240.19b-4(f)(6).
\5\ The Exchange requested the Commission to waive the five-day
pre-filing notice requirement and the 30-day operative delay, as
specified in Rule 19b-4(f)(6)(iii). 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Chicago Board Options Exchange, Incorporated (``CBOE'' or
``Exchange'') proposes to extend the pilot period applicable to CBOE's
listing and trading of options on the iShares MSCI Emerging Markets
Index Fund (``Fund Options''). CBOE is not proposing any textual
changes to the rules of CBOE. The text of the proposed rule change is
available on the Exchange's Web site (https://www.cboe.com), the Office
of the Secretary, CBOE, 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, CBOE 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 those statements may be examined at the places specified in
Item IV below. The CBOE has prepared summaries, set forth in sections
A, B, and C below, of the most significant parts of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and the
Statutory Basis for, the Proposed Rule Change
1. Purpose
On April 10, 2006, the Securities and Exchange Commission
(``Commission'') approved a CBOE proposal (SR-CBOE-2006-32) to list and
trade Fund Options.\6\ SR-CBOE-2006-32 was approved for a sixty-day
pilot period that is due to expire on June 9, 2006 (``Pilot''). The
Fund Options will continue to meet substantially all of the listing and
maintenance standards in CBOE Rules 5.3.06 and 5.4.08, respectively.
For the requirements that are not met, the Exchange continues to
represent that sufficient mechanisms exist that would provide the
Exchange with adequate surveillance and regulatory information with
respect to the Fund. Continuation of the Pilot would permit the
Exchange to continue to work with the Bolsa Mexicana de Valores
(``Bolsa'') to develop a surveillance sharing agreement.\7\
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 53621 (April 10,
2006), 71 FR 19568 (April 14, 2006) (SR-CBOE-2006-32).
\7\ Telephone conference between Patrick Sexton, Associate
General Counsel, Exchange, Bill Speth, Director of Research,
Exchange, and Geoffrey Pemble, Special Counsel, Division,
Commission, on June 1, 2006.
---------------------------------------------------------------------------
Accordingly, the Exchange proposes to extend the Pilot for an
additional ninety-days, until September 7, 2006.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the Act and the rules and regulations thereunder applicable to a
national securities exchange and, in particular, the requirements of
Section 6(b) of the Act.\8\ Specifically, the Exchange believes the
proposed rule change is consistent with the Section 6(b)(5) Act \9\
requirements that the rules of an
[[Page 33323]]
exchange be designed to promote just and equitable principles of trade,
to prevent fraudulent and manipulative acts and, in general, to protect
investors and the public interest.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CBOE does not believe that the proposed rule change will impose any
burden on competition that is not necessary or appropriate in
furtherance of purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received with respect
to the proposed rule change.
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) of the Act \10\ and Rule 19b-4(f)(6) thereunder
\11\ because the proposed rule change: (1) Does not significantly
affect the protection of investors or the public interest; (2) does not
impose any significant burden on competition; and (3) does not become
operative for 30 days from the date of filing, or such shorter time as
the Commission may designate if consistent with the protection of
investors and the public interest pursuant to Section 19(b)(3)(A) of
the Act \12\ and Rule 19b-4(f)(6) \13\ thereunder.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6).
\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
The Exchange has requested that the Commission waive the five-day
pre-filing notice requirement and the 30-day operative delay.\14\ The
Commission is exercising its authority to waive the five-day pre-filing
notice requirement and believes that the waiver of the 30-day operative
delay is consistent with the protection of investors and the public
interest. Waiver of the five-day pre-filing and 30-day operative
periods will extend the Pilot, which would otherwise expire on June 9,
2006, and allow the Exchange to continue in its efforts to obtain a
surveillance agreement with the Bolsa. Accordingly, the Commission
designates the proposal to be effective and operative upon filing with
the Commission.\15\
---------------------------------------------------------------------------
\14\ 17 CFR 240.19b-4(f)(6)(iii).
\15\ For the purposes only of waiving the operative date of this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
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 the furtherance of the purposes of the Act.
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-CBOE-2006-56 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-CBOE-2006-56. 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 20549-1090. Copies of such filing also will be
available for inspection and copying at the principal office of the
CBOE. 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-
CBOE-2006-56 and should be submitted on or before June 29, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------
\16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-8880 Filed 6-7-06; 8:45 am]
BILLING CODE 8010-01-P
