Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Adoption of an Options Licensing Fee in Connection With Certain Russell Indexes, 34971-34973 [E6-9436]
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Federal Register / Vol. 71, No. 116 / Friday, June 16, 2006 / Notices
increase the number of qualified
students entering the fields of
information assurance and computer
security in an effort to respond to the
threat to the Federal Government’s
information technology infrastructure.
The program provides capacity building
grants to selected 4-year colleges and
universities to develop or improve their
capacity to train information assurance
professionals. It also provides selected
4-year colleges and universities
scholarship grants to attract students to
the information assurance field.
Participating students who receive
scholarships from this program are
required to serve a 10-week internship
during their studies and complete a
post-graduation employment
commitment equivalent to the length of
the scholarship or one year, whichever
is longer.
OPM projects that 450 students will
graduate from participating institutions
over the next three years. These
students will need placement in
addition to the 180 students needing
placement this year. This is a new
collection of information. Based on
other programs that collect similar
information, we estimate the collection
of information for registering and
creating an online resume to be 45
minutes to 1 hour in length of time to
answer questions. We estimate the total
number of hours to be 630.
Comments are particularly invited on:
Whether this information is necessary
for the proper performance of functions
of OPM, and whether it will have
practical utility; whether our estimate of
the public burden of this collection of
information is accurate, and based on
valid assumptions and methodology;
and ways in which we can minimize the
burden of the collection of information
on those who are to respond, through
the use of appropriate technological
collection techniques or other forms of
information technology.
For copies of this proposal, contact
Kathy Roberson (210) 805–2423, ext.
506; fax (210) 805–2407 or e-mail to
kathy.roberson@opm.gov. Please
include your mailing address with your
request.
Comments on this proposal
should be received within sixty (60)
calendar days from the date of this
publication.
wwhite on PROD1PC61 with NOTICES
DATES:
Send or deliver comments
to: U.S. Office of Personnel
Management, ATTN: Kathy Roberson,
8610 Broadway, Rm. 305, San Antonio,
TX 78217. E-mail:
kathy.roberson@opm.gov.
ADDRESSES:
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18:25 Jun 15, 2006
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34971
Office of Personnel Management.
Dan G. Blair,
Deputy Director.
[FR Doc. E6–9417 Filed 6–15–06; 8:45 am]
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
BILLING CODE 6325–38–P
Dated: June 14, 2006.
Jill M. Peterson,
Assistant Secretary.
[FR Doc. 06–5506 Filed 6–14–06; 11:19 am]
SECURITIES AND EXCHANGE
COMMISSION
BILLING CODE 8010–01–M
Sunshine Act; Notice of Meetings
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold the following
meetings during the week of June 19,
2006:
A Closed Meeting will be held on
Monday, June 19, 2006 at 2 p.m. and on
Thursday, June 22, 2006 at 10 a.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters may also be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(3), (4), (5), (7), (8), (9)(B),
(10) and 17 CFR 200.402(a)(3), (4), (5),
(7), (8), (9)(ii), and (10) permit
consideration of the scheduled matters
at the Closed Meetings.
Commissioner Glassman, as duty
officer, voted to consider the items
listed for the closed meetings in closed
session and determined that no earlier
notice thereof was possible.
The subject matter of the Closed
Meeting scheduled for Monday, June 19,
2006 will be:
Formal orders of investigation;
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings of an
enforcement nature; and
Regulatory matters regarding financial
institutions.
The subject matter of the Closed
Meeting scheduled for Thursday, June
22, 2006 will be:
Formal orders of investigation;
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings of an
enforcement nature;
Litigation matters; and
Resolution of litigation claims.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
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SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53968; File No. SR–Amex–
2006–56]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Relating to
the Adoption of an Options Licensing
Fee in Connection With Certain Russell
Indexes
June 9, 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 26,
2006, the American Stock Exchange LLC
(‘‘Amex’’ or ‘‘Exchange’’) submitted to
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 Amex. Amex has
designated this proposal as one
establishing or changing a due, fee, or
other charge imposed by the selfregulatory organization under Section
19(b)(3)(A)(ii) of the Act 3 and Rule 19b–
4(f)(2) thereunder,4 which renders it
effective upon filing with the
Commission. 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 Exchange proposes to modify its
Options Fee Schedule by adopting a per
contract licensing fee for the orders of
specialists, registered options traders
(‘‘ROTs’’), firms, non-member market
makers, and broker-dealers in
connection with options transactions on
the Russell 2000 Index (symbol: RUT)
and shares of the following exchangetraded funds (‘‘ETFs’’): (1) Rydex
Russell Top 50 (symbol: XLG); (2)
iShares Russell 1000 (symbol: IWB); (3)
iShares Russell 1000 Growth (symbol:
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
2 17
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Federal Register / Vol. 71, No. 116 / Friday, June 16, 2006 / Notices
IWF); (4) iShares Russell 1000 Value
(symbol: IWD); (5) iShares Russell 2000
(symbol: IWM); (6) iShares Russell 2000
Growth (symbol: IWO); (7) iShares
Russell 2000 Value (symbol: IWN); and
(8) iShares Russell 3000 (symbol: IWV)
(collectively, the ‘‘Russell ETFs’’).
The text of the proposed rule change
is available on Amex’s Web site at
https://www.amex.com, at the principal
office of Amex, 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,
Amex 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 these statements
may be examined at the places specified
in Item IV below. Amex has prepared
summaries, set forth in Sections A, B,
and C below, of the most significant
aspects of such statements.
wwhite on PROD1PC61 with NOTICES
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Amex proposes to adopt a per
contract licensing fee for options on the
Russell 2000 Index (‘‘RUT’’) and the
Russell ETFs. This fee change will be
assessed on members commencing May
26, 2006.
The Exchange has entered into
numerous agreements with various
index providers for the purpose of
trading options on certain indexes and
ETFs, such as RUT and Russell ETFs.
This requirement to pay an index
license fee to a third party is a condition
to the listing and trading of these index
and ETF options. In many cases, the
Exchange is required to pay a significant
licensing fee to the index provider that
may not be reimbursed. In an effort to
recoup the costs associated with certain
index licenses, the Exchange has
established a per contract licensing fee
for the orders of specialists, ROTs,
firms, non-member market makers and
broker-dealers, which is collected on
every option transaction in designated
products in which such market
participant is a party.5
The purpose of this proposal is to
charge an options licensing fee in
connection with options on RUT and
Russell ETFs. Specifically, Amex seeks
5 See, e.g., Securities Exchange Act Release No.
52493 (September 22, 2005), 70 FR 56941
(September 29, 2005).
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18:25 Jun 15, 2006
Jkt 208001
to charge an options licensing fee of
$0.10 per contract side for the RUT
options and Russell ETF options for
specialist, ROT, firm, non-member
market maker, and broker-dealer orders
executed on the Exchange. In all cases,
the fees will be charged only to the
Exchange members through whom the
orders are placed.
The proposed options licensing fee
will allow the Exchange to recoup its
costs in connection with the index
license fee for the trading of the RUT
options and Russell ETF options. The
fees will be collected on every order of
a specialist, ROT, firm, non-member
market maker, and broker-dealer
executed on the Exchange. The
Exchange believes that the proposal to
require payment of a per contract
licensing fee in connection with the
RUT options and Russell ETF options
by those market participants that are the
beneficiaries of Exchange index license
agreements is justified and consistent
with the rules of the Exchange.
The Exchange notes that the Amex, in
recent years, has revised a number of
fees to better align Exchange fees with
the actual cost of delivering services and
reduce Exchange subsidies of such
services.6 Amex believes that the
implementation of this proposal is
consistent with the reduction and/or
elimination of these subsidies. Amex
believes that these fees will help to
allocate to those market participants
engaging in transactions in RUT options
and Russell ETF options, a fair share of
the related costs of offering such
options.
The Exchange asserts that the
proposal is equitable as required by
Section 6(b)(4) of the Act.7 In
connection with the adoption of an
options licensing fee for RUT options
and Russell ETF options, the Exchange
believes that charging an options
licensing fee, where applicable, to all
market participant orders except for
customer orders is reasonable, given the
competitive pressures in the industry.
Accordingly, the Exchange seeks,
through this proposal, to better align its
transaction charges with the cost of
providing products.
2. Statutory Basis
Amex believes that the proposed rule
change is consistent with Section 6(b)(4)
6 See, e.g., Securities Exchange Act Release Nos.
45360 (January 29, 2002), 67 FR 5626 (February 6,
2002) and 44286 (May 9, 2001), 66 FR 27187 (May
16, 2001).
7 Section 6(b)(4) of the Act requires that the rules
of a national securities exchange provide for the
equitable allocation of reasonable dues, fees, and
other charges among its members and issuers and
other persons using its facilities.
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of the Act 8 regarding the equitable
allocation of reasonable dues, fees and
other charges among exchange members
and other persons using exchange
facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Amex believes that the proposed rule
change does 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
No written comments were 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 rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act 9 and Rule 19b–
4(f)(2) thereunder,10 because it
establishes or changes a due, fee, or
other charge imposed by the selfregulatory organization.
At any time within 60 days of the
filing of such 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.
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–Amex–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.
8 15
U.S.C. 78f(b)(4).
U.S.C. 78s(b)(3)(A)(ii).
10 17 CFR 240.19b–4(f)(2).
9 15
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Federal Register / Vol. 71, No. 116 / Friday, June 16, 2006 / Notices
All submissions should refer to File
Number SR–Amex–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
Room. Copies of such filing also will be
available for inspection and copying at
the principal office of the Amex. 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–Amex–2006–56 and should
be submitted on or before July 7, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Nancy M. Morris,
Secretary.
[FR Doc. E6–9436 Filed 6–15–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–53969; File No. SR–CBOE–
2006–53]
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
wwhite on PROD1PC61 with NOTICES
June 9, 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 June 2,
2006, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
11 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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18:25 Jun 15, 2006
Jkt 208001
34973
NDX, and options on RUT). A Preferred
Market-Maker will only be given access
to the marketing fee funds generated
from a Preferred order if the Preferred
Market-Maker has an appointment in
the class in which the Preferred order is
received and executed. If less than 80%
of the marketing fee funds are paid out
by the DPM/LMM or Preferred MarketMaker in a given month, then the
Exchange would refund such surplus at
the end of the month on a pro rata basis
based upon contributions made by the
Market-Makers, RMMs, e-DPMs, DPMs
and LMMs. However, if 80% or more of
I. Self-Regulatory Organization’s
the accumulated funds in a given month
Statement of the Terms of Substance of
are paid out by the DPM/LMM or
the Proposed Rule Change
Preferred Market-Maker, there will not
The CBOE proposes to amend its
be a rebate for that month and the funds
marketing fee program. Below is the text will carry over and will be included in
of the proposed rule change. Proposed
the pool of funds to be used by the
new language is in italics; deleted
DPM/LMM or Preferred Market-Maker
language is in [brackets].
the following month. At the end of each
quarter, the Exchange would then
CHICAGO BOARD OPTIONS
refund any surplus, if any, on a pro rata
EXCHANGE, INC.
basis based upon contributions made by
FEES SCHEDULE
the Market-Makers, RMMs, DPMs, eDPMs and LMMs. CBOE’s marketing fee
[MAY 18] June 2, 2006
program as described above will be in
1. No Change .....................................
2. MARKETING FEE (6)(16) ..............
$.65 effect until June 2, [2006] 2007.
Remainder of Fees Schedule—No
3.–4. No Change ................................
change.
FOOTNOTES:
(1)–(5) No Change.
II. Self-Regulatory Organization’s
(6) The Marketing Fee will be
Statement of the Purpose of, and
assessed only on transactions of Market- Statutory Basis for, the Proposed Rule
Makers, RMMs, e-DPMs, DPMs, and
Change
LMMs resulting from orders for less
In its filing with the Commission, the
than 1,000 contracts (i) from payment
Exchange included statements
accepting firms, or (ii) that have
concerning the purpose of and basis for
designated a ‘‘Preferred Market-Maker’’
the proposed rule change, and discussed
under CBOE Rule 8.13 at the rate of $.65
any comments it received on the
per contract on all classes of equity
proposed rule change. The text of these
options, options on HOLDRs, options on
statements may be examined at the
SPDRs, options on DIA, options on
places specified in Item IV below. The
NDX, and options on RUT. The fee will
CBOE has prepared summaries, set forth
not apply to: Market-Maker-to-Marketin Sections A, B, and C below, of the
Maker transactions including
most significant aspects of such
transactions resulting from orders from
statements.
non-member market-makers;
transactions resulting from inbound P/A A. Self-Regulatory Organization’s
Statement of the Purpose of, and
orders or a transaction resulting from
Statutory Basis for, the Proposed Rule
the execution of an order against the
Change
DPM’s account if an order directly
related to that order is represented and
1. Purpose
executed through the Linkage Plan
The CBOE states that currently, its
using the DPM’s account; transactions
marketing fee is assessed upon DPMs,
resulting from accommodation
LMMs, e-DPMs, RMMs, and Marketliquidations (cabinet trades); and
Makers at the rate of $.65 per contract
transactions resulting from dividend
on transactions of Market-Makers,
strategies, merger strategies, and short
RMMs, e-DPMs, DPMs, and LMMs
stock interest strategies as defined in
resulting from orders for less than 1,000
footnote 13 of this Fees Schedule. This
fee shall not apply to index options and contracts (i) from payment accepting
firms, or (ii) that have designated a
options on ETFs (other than options on
‘‘Preferred Market-Maker’’ under CBOE
SPDRs, options on DIA, options on
Rule 8.13. The Exchange notes that this
3 15 U.S.C. 78s(b)(3)(A)(ii).
fee does not apply to: Market-Maker-to4 17 CFR 240.19b–4(f)(2).
Market-Maker transactions including
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the Exchange. The CBOE
has designated this proposal as one
establishing or changing a due, fee, or
other charge imposed by the CBOE
under 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. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
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]]>Agencies
[Federal Register Volume 71, Number 116 (Friday, June 16, 2006)]
[Notices]
[Pages 34971-34973]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-9436]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-53968; File No. SR-Amex-2006-56]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to the Adoption of an Options Licensing Fee in Connection With
Certain Russell Indexes
June 9, 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 26, 2006, the American Stock Exchange LLC (``Amex'' or
``Exchange'') submitted to 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 Amex. Amex has
designated this proposal as one establishing or changing a due, fee, or
other charge imposed by the self-regulatory organization under Section
19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\
which renders it effective upon filing with the Commission. 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)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to modify its Options Fee Schedule by
adopting a per contract licensing fee for the orders of specialists,
registered options traders (``ROTs''), firms, non-member market makers,
and broker-dealers in connection with options transactions on the
Russell 2000 Index (symbol: RUT) and shares of the following exchange-
traded funds (``ETFs''): (1) Rydex Russell Top 50 (symbol: XLG); (2)
iShares Russell 1000 (symbol: IWB); (3) iShares Russell 1000 Growth
(symbol:
[[Page 34972]]
IWF); (4) iShares Russell 1000 Value (symbol: IWD); (5) iShares Russell
2000 (symbol: IWM); (6) iShares Russell 2000 Growth (symbol: IWO); (7)
iShares Russell 2000 Value (symbol: IWN); and (8) iShares Russell 3000
(symbol: IWV) (collectively, the ``Russell ETFs'').
The text of the proposed rule change is available on Amex's Web
site at https://www.amex.com, at the principal office of Amex, 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, Amex 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 these statements may be examined at the places specified in
Item IV below. Amex 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
Amex proposes to adopt a per contract licensing fee for options on
the Russell 2000 Index (``RUT'') and the Russell ETFs. This fee change
will be assessed on members commencing May 26, 2006.
The Exchange has entered into numerous agreements with various
index providers for the purpose of trading options on certain indexes
and ETFs, such as RUT and Russell ETFs. This requirement to pay an
index license fee to a third party is a condition to the listing and
trading of these index and ETF options. In many cases, the Exchange is
required to pay a significant licensing fee to the index provider that
may not be reimbursed. In an effort to recoup the costs associated with
certain index licenses, the Exchange has established a per contract
licensing fee for the orders of specialists, ROTs, firms, non-member
market makers and broker-dealers, which is collected on every option
transaction in designated products in which such market participant is
a party.\5\
---------------------------------------------------------------------------
\5\ See, e.g., Securities Exchange Act Release No. 52493
(September 22, 2005), 70 FR 56941 (September 29, 2005).
---------------------------------------------------------------------------
The purpose of this proposal is to charge an options licensing fee
in connection with options on RUT and Russell ETFs. Specifically, Amex
seeks to charge an options licensing fee of $0.10 per contract side for
the RUT options and Russell ETF options for specialist, ROT, firm, non-
member market maker, and broker-dealer orders executed on the Exchange.
In all cases, the fees will be charged only to the Exchange members
through whom the orders are placed.
The proposed options licensing fee will allow the Exchange to
recoup its costs in connection with the index license fee for the
trading of the RUT options and Russell ETF options. The fees will be
collected on every order of a specialist, ROT, firm, non-member market
maker, and broker-dealer executed on the Exchange. The Exchange
believes that the proposal to require payment of a per contract
licensing fee in connection with the RUT options and Russell ETF
options by those market participants that are the beneficiaries of
Exchange index license agreements is justified and consistent with the
rules of the Exchange.
The Exchange notes that the Amex, in recent years, has revised a
number of fees to better align Exchange fees with the actual cost of
delivering services and reduce Exchange subsidies of such services.\6\
Amex believes that the implementation of this proposal is consistent
with the reduction and/or elimination of these subsidies. Amex believes
that these fees will help to allocate to those market participants
engaging in transactions in RUT options and Russell ETF options, a fair
share of the related costs of offering such options.
---------------------------------------------------------------------------
\6\ See, e.g., Securities Exchange Act Release Nos. 45360
(January 29, 2002), 67 FR 5626 (February 6, 2002) and 44286 (May 9,
2001), 66 FR 27187 (May 16, 2001).
---------------------------------------------------------------------------
The Exchange asserts that the proposal is equitable as required by
Section 6(b)(4) of the Act.\7\ In connection with the adoption of an
options licensing fee for RUT options and Russell ETF options, the
Exchange believes that charging an options licensing fee, where
applicable, to all market participant orders except for customer orders
is reasonable, given the competitive pressures in the industry.
Accordingly, the Exchange seeks, through this proposal, to better align
its transaction charges with the cost of providing products.
---------------------------------------------------------------------------
\7\ Section 6(b)(4) of the Act requires that the rules of a
national securities exchange provide for the equitable allocation of
reasonable dues, fees, and other charges among its members and
issuers and other persons using its facilities.
---------------------------------------------------------------------------
2. Statutory Basis
Amex believes that the proposed rule change is consistent with
Section 6(b)(4) of the Act \8\ regarding the equitable allocation of
reasonable dues, fees and other charges among exchange members and
other persons using exchange facilities.
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\8\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition
Amex believes that the proposed rule change does 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
No written comments were 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 rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act \9\ and Rule 19b-4(f)(2) thereunder,\10\
because it establishes or changes a due, fee, or other charge imposed
by the self-regulatory organization.
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\9\ 15 U.S.C. 78s(b)(3)(A)(ii).
\10\ 17 CFR 240.19b-4(f)(2).
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At any time within 60 days of the filing of such 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.
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-Amex-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.
[[Page 34973]]
All submissions should refer to File Number SR-Amex-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 Room. Copies of such
filing also will be available for inspection and copying at the
principal office of the Amex. 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-Amex-2006-56 and should be submitted on or before July
7, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\11\
Nancy M. Morris,
Secretary.
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\11\ 17 CFR 200.30-3(a)(12).
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[FR Doc. E6-9436 Filed 6-15-06; 8:45 am]
BILLING CODE 8010-01-P
