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]

Download as PDF 33322 Federal Register / Vol. 71, No. 110 / Thursday, June 8, 2006 / Notices hearing will be published in the Federal Register and served on the parties to the hearing. As an alternative to requests for hearing and petitions to intervene, within 30 days from the date of publication of this notice, persons may submit written comments regarding the license transfer application, as provided for in 10 CFR 2.1305. The Commission will consider and, if appropriate, respond to these comments, but such comments will not otherwise constitute part of the decisional record. Comments should be submitted to the Secretary, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001, Attention: Rulemakings and Adjudications Staff, and should cite the publication date and page number of this Federal Register notice. For further details with respect to this action, see the application dated March 10, 2006, as supplemented by the electronic mail from the licensee dated May 16, 2006, available for public inspection at the Commission’s Public Document Room (PDR), located at One White Flint North, Public File Area O1 F21, 11555 Rockville Pike (first floor), Rockville, Maryland. Publicly available records will be accessible electronically from the Agencywide Documents Access and Management System’s (ADAMS) Public Electronic Reading Room on the Internet at the NRC Web site, http://www.nrc.gov/reading-rm/ adams.html. Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS should contact the NRC PDR Reference staff by telephone at 1–800–397–4209, or 301–415–4737 or by e-mail to pdr@nrc.gov. Dated at Rockville, Maryland, this 30th day of May 2006. For the Nuclear Regulatory Commission. N. Kalyanam, Project Manager, Plant Licensing Branch IV, Division of Operating Reactor Licensing, Office of Nuclear Reactor Regulation. [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 (http://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). VerDate Aug<31>2005 15:37 Jun 07, 2006 Jkt 208001 PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 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 VerDate Aug<31>2005 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 (http://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 (http://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]


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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).
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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 (http://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.
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    \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\
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    \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 (http://
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 (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 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\
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    \16\ 17 CFR 200.30-3(a)(12).
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J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E6-8880 Filed 6-7-06; 8:45 am]
BILLING CODE 8010-01-P