Self-Regulatory Organizations; International Securities Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Directed Orders System Change, 38920-38922 [E6-10719]
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38920
Federal Register / Vol. 71, No. 131 / Monday, July 10, 2006 / Notices
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currency. The Commission believes that
these requirements minimize the
potential for manipulating the
underlying currency held by the Fund
Shares.
Finally, under the proposed change to
ISE Rule 503(h), Fund Shares would not
be deemed to meet the requirements for
continued approval, and the Exchange
would not open for trading any
additional series of option contracts of
the class covering such Fund Shares, if
the Fund Shares are delisted from
trading or, pursuant to the proposed
rule change, are halted from trading on
their primary market. The Commission
believes that the Exchange’s proposal to
expand ISE Rule 503(h) to address the
effect of a trading halt in the Fund
Shares on their primary market is
consistent with the protection of
investors and the public interest.
The Commission also notes that the
Exchange has represented that it has an
adequate surveillance program in place
for options on Fund Shares, as defined
by the Exchange’s proposal, and it
intends to apply those same program
procedures that it applies to options on
Fund Shares currently traded on the
Exchange. In addition, the Exchange is
able to obtain trading information via
the Intermarket Surveillance Group
(‘‘ISG’’) from other exchanges who are
members or affiliates of the ISG. With
respect to the Euro Shares, the
Commission notes that the Exchange
can obtain such information from the
Philadelphia Stock Exchange (‘‘Phlx’’)
in connection with euro options trading
on the Phlx and from the Chicago
Mercantile Exchange (‘‘CME’’) and the
London International Financial Futures
Exchange (‘‘LIFFE’’) in connection with
euro futures trading on those
exchanges.15
The Commission finds good cause for
approving Amendment No. 3 to the
proposed rule change prior to the
thirtieth day after the date of the
publication of notice thereof in the
Federal Register pursuant to Section
19(b)(2) of the Act.16 The Commission
notes that Amendment No. 3 clarifies
the operation of the continued listing
criteria in ISE Rule 503(h)(3) by
providing that the Exchange will
consider the suspension of opening
transactions for Fund Shares if the value
of the non-U.S. currency on which the
Fund Shares are based is no longer
15 Phlx is a member of ISG. CME and LIFFE are
affiliate members of ISG.
16 15 U.S.C. 78s(b)(2). Pursuant to Section 19(b)(2)
of the Act, the Commission may not approve any
proposed rule change, or amendment thereto, prior
to the thirtieth day after the date of publication of
the notice thereof, unless the Commission finds
good cause for so doing.
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17:10 Jul 07, 2006
Jkt 208001
calculated or available.17 The
Commission notes that the Notice’s
discussion of the Euro Shares addressed
this point,18 and that Amendment No. 3
makes a conforming change to the text
of ISE Rule 503(h)(3) to address the
Exchange’s proposed broadened
definition of Fund Shares to include
Fund Shares that represent interests in
a trust that hold a specified non-U.S.
currency. The Commission therefore
believes that it is appropriate to
accelerate approval of Amendment No.
3 so that the proposed rule change, as
amended, may be implemented without
delay.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether Amendment No. 3 to
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–ISE–2005–60 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–ISE–2005–60. 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
17 Under the existing continued listing criteria in
ISE Rule 503(h), Fund Shares may be delisted as
follows: (1) Following the initial twelve-month
period beginning upon the commencement of
trading of the Fund Shares, there are fewer than 50
record and/or beneficial holders of the Fund Shares
for 30 or more consecutive trading days; (2) the
value of the index or portfolio of securities is no
longer calculated or available; or (3) such other
event occurs or condition exists that in the opinion
of the Exchange makes further dealing on the
Exchange inadvisable.
18 See Notice, supra note 5, at 28397 (noting that
Euro Shares may be delisted if the value of the euro
is no longer calculated or available).
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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 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–ISE–2005–60 and should be
submitted on or before July 31, 2006.
V. Conclusion
For the foregoing reasons, the
Commission finds that the proposed
rule change, as amended, is consistent
with the Act and rules and regulations
thereunder applicable to the national
securities exchange.
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,19 that the
proposed rule change (SR–ISE–2005–
60), as amended, is approved, and
Amendment No. 3 is approved on an
accelerated basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.20
Nancy M. Morris,
Secretary.
[FR Doc. E6–10717 Filed 7–7–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54083; File No. SR–ISE–
2006–35]
Self-Regulatory Organizations;
International Securities Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to Directed Orders
System Change
June 30, 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 June 30,
2006, the International Securities
Exchange, Inc. (‘‘ISE’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
19 15
U.S.C. 78s(b)(2).
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
20 17
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Federal Register / Vol. 71, No. 131 / Monday, July 10, 2006 / Notices
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been prepared by the ISE. The
proposed rule change has been filed by
the ISE as effecting a change in an
existing order-entry or trading system
pursuant to section 19(b)(3)(A) of the
Act,3 and Rule 19b–4(f)(5) 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The ISE is proposing to extend the
pilot period for the system change that
identifies to a Directed Market Maker
(‘‘DMM’’) the identity of the firm
entering a Directed Order until
September 30, 2006.
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
ISE 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. The ISE 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
On January 5, 2006, the ISE initiated
a system change to identify to a DMM
the identity of the firm entering a
Directed Order. The ISE filed this
system change on a pilot basis under
section 19(b)(3)(A) of the Act and Rule
19b–4(f)(5) thereunder 5 so that it would
be effective while the Commission
considered a separate proposed rule
change filed under section 19(b)(2) of
the Act to amend the ISE’s rules to
reflect the system change on a
permanent basis (the ‘‘Permanent Rule
Change’’).6 The pilot currently expires
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(5).
5 Securities Exchange Act Release No. 53104 (Jan.
11, 2006), 71 FR 3142 (Jan. 19, 2006) (Notice of
Filing and Immediate Effectiveness for SR–ISE–
2006–02).
6 Securities Exchange Act Release No. 53103 (Jun.
11, 2006), 71 FR 3144 (Jan. 19, 2006) (Notice of
Filing for SR–ISE–2006–01).
on June 30, 2006, but the Commission
has not yet taken action with respect to
the Permanent Rule Change.
Accordingly, the Exchange proposes to
extend the pilot until September 30,
2006, so that the system change will
remain in effect while the Commission
continues to evaluate the Permanent
Rule Change.7
2. Statutory Basis
The Exchange believes that the basis
under the Act is found in section
6(b)(5), in that the propose rule change
is designed to promote just and
equitable principles of trade, remove
impediments to and perfect the
mechanisms of a free and open market
and a national market system and, in
general, to protect investors and the
public interest. Extension of the pilot
program will allow the Exchange to
remain competitive with the Boston
Options Exchange (‘‘BOX’’), which
operates a directed orders program that
discloses the identity of an entering firm
to the BOX directed market maker.8
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange 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
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change effects a change in an existing
order entry or trading system that (i)
does not significantly affect the
protection of investors or the public
interest; (ii) does not impose any
significant burden on competition; and
(iii) does not have the effect of limiting
access to or availability of the system, it
has become effective pursuant to section
3 15
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4 17
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7 The ISE anticipated that extension of the pilot
might be necessary and included this in the filing
for the initial pilot. See supra note 3, at footnote
5.
8 See Securities Exchange Act Release Nos. 53015
(Dec. 22, 2005), 70 FR 77207 (Dec. 29, 2005); 53357
(Feb. 23, 2006); and 71 FR 10730 (March 2, 2006)
(SR–BSE–2005–52).
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38921
19(b)(3)(A)(iii) of the Act 9 and Rule
19b–4(f)(5) thereunder.10
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
No. SR–ISE–2006–35 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–ISE–2006–35. 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 ISE.
All comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
9 15
U.S.C. 78s(b)(3)(A)(iii).
CFR 19b–4(f)(5).
10 17
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38922
Federal Register / Vol. 71, No. 131 / Monday, July 10, 2006 / Notices
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–ISE–2006–35 and should be
submitted on or before July 31, 2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Nancy M. Morris,
Secretary.
[FR Doc. E6–10719 Filed 7–7–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
(Release No. 34–54071; File No. SR–NASD–
2006–068)
Self-Regulatory Organizations;
National Association of Securities
Dealers, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change and Amendments No. 1,
2, 3 and 4 Thereto To Create the
Nasdaq Global Select Market and
Rename the Nasdaq National Market
June 29, 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 30,
2006, the National Association of
Securities Dealers, Inc. (‘‘NASD’’),
through its subsidiary, The Nasdaq
Stock Market, Inc. (‘‘Nasdaq’’), filed
with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by Nasdaq. Nasdaq has
filed this proposal pursuant to Section
19(b)(3)(A) of the Act 3 and Rule 19b–
4(f)(6) thereunder,4 which renders the
proposal effective upon filing with the
Commission. On June 9, 2006, Nasdaq
filed Amendment No. 1 to the proposed
rule change.5 Nasdaq filed Amendment
No. 2 on June 15, 2006, Amendment No.
3 on June 27, 2006, and Amendment No.
4 on June 29, 2006.6 The Commission is
publishing this notice to solicit
comments on the proposed rule change,
as amended, from interested persons.
11 17
CFR 200.30–3(a)(12).
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)(6).
5 Amendment No. 1 replaced the original filing in
its entirety.
6 In Amendments No. 2, 3 and 4, Nasdaq made
certain technical corrections and clarifications to its
rule text.
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1 15
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Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
Nasdaq proposes to rename the
Nasdaq National Market as the Nasdaq
Global Market and to create the Nasdaq
Global Select Market, a new tier within
the Nasdaq Global Market with higher
initial listing standards. Nasdaq would
implement the proposed rule change on
July 1, 2006. Nasdaq previously filed
substantially identical changes to the
rules of the NASDAQ Stock Market LLC
(‘‘Nasdaq LLC’’).7 This rule filing
incorporates these changes into the
rules of the NASD because Nasdaq LLC
will not commence operations as a
national securities exchange prior to the
planned July 1, 2006, launch date for
the Nasdaq Global Select Market.8
The text of the proposed rule change
is available on Nasdaq’s Web site
(https://www.nasdaq.com), at Nasdaq’s
principal office, and at the
Commission’s Public Reference Room.
The text of the proposed rule change is
included below. Proposed new language
is italicized; deletions are [bracketed].
*
*
*
*
*
IM–2310–2. Fair Dealing With
Customers
(a)–(d) No change.
(e) Fair Dealing With Customers with
Regard to Derivative Products or New
Financial Products.
(1)–(2) No change.
(3) Hybrid Securities and Selected
Equity-Linked Debt Securities
(‘‘SEEDS’’) Designated as Nasdaq
[National] Global Market Securities
Pursuant to the Rule 4400 Series.
No change.
*
*
*
*
*
2710. Corporate Financing Rule—
Underwriting Terms and Arrangements
(a) No change.
(b) (1)–(6) No change.
(7) Offerings Exempt from Filing.
Notwithstanding the provisions of
subparagraph (1) above, documents and
information related to the following
public offerings need not be filed with
NASD for review, unless subject to the
provisions of Rule 2720. However, it
shall be deemed a violation of this Rule
or Rule 2810, for a member to
participate in any way in such public
offerings if the underwriting or other
arrangements in connection with the
offering are not in compliance with this
Rule or Rule 2810, as applicable:
7 See Securities Exchange Act Release No. 53799
(May 12, 2006), 71 FR 29195 (May 19, 2006) (SR–
NASDAQ–2006–007).
8 See Securities Exchange Act Release No. 53128
(January 13, 2006), 71 FR 3550 (January 23, 2006).
PO 00000
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(A)–(E) No change.
(F) Exchange offers of securities
where:
(i) The securities to be issued or the
securities of the company being
acquired are listed on The Nasdaq
[National] Global Market, the New York
Stock Exchange, or the American Stock
Exchange; or
(ii) No change.
(G) No change.
(8)–(11) No change.
(c)–(j) No change.
*
*
*
*
*
2790. Restrictions on the Purchase and
Sale of Initial Equity Public Offerings
(a)–(b) No change.
(c) General Exemptions.
The general prohibitions in paragraph
(a) of this rule shall not apply to sales
to and purchases by the following
accounts or persons, whether directly or
through accounts in which such persons
have a beneficial interest:
(1)–(4) No change.
(5) A publicly traded entity (other
than a broker/dealer or an affiliate of a
broker/dealer where such broker/dealer
is authorized to engage in the public
offering of new issues either as a selling
group member or underwriter) that:
(A) No change.
(B) Is traded on the Nasdaq [National]
Global Market; or
(C) Is a foreign issuer whose securities
meet the quantitative designation
criteria for listing on a national
securities exchange or trading on the
Nasdaq [National] Global Market;
(6)–(10) No change.
(d)–(h) No change.
(i) Definitions.
(1)–(9) No change.
(10) ‘‘Restricted person’’ means:
(A)–(D) No change.
(E) Persons Owning a Broker/Dealer.
(i)–(iii) No change.
(iv) Any person that directly or
indirectly owns 10% or more of a public
reporting company listed, or required to
be listed, in Schedule A of a Form BD
(other than a reporting company that is
listed on a national securities exchange
or is traded on the Nasdaq [National]
Global Market, or other than with
respect to a limited business broker/
dealer);
(v) Any person that directly or
indirectly owns 25% or more of a public
reporting company listed, or required to
be listed, in Schedule B of a Form BD
(other than a reporting company that is
listed on a national securities exchange
or is traded on the Nasdaq [National]
Global Market, or other than with
respect to a limited business broker/
dealer);
(vi) No change.
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]]>Agencies
[Federal Register Volume 71, Number 131 (Monday, July 10, 2006)]
[Notices]
[Pages 38920-38922]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-10719]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-54083; File No. SR-ISE-2006-35]
Self-Regulatory Organizations; International Securities Exchange,
Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to Directed Orders System Change
June 30, 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 June 30, 2006, the International Securities Exchange, Inc.
(``ISE'' or ``Exchange'') filed with the Securities and Exchange
[[Page 38921]]
Commission (``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been prepared by the ISE.
The proposed rule change has been filed by the ISE as effecting a
change in an existing order-entry or trading system pursuant to section
19(b)(3)(A) of the Act,\3\ and Rule 19b-4(f)(5) 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.
---------------------------------------------------------------------------
\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)(5).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The ISE is proposing to extend the pilot period for the system
change that identifies to a Directed Market Maker (``DMM'') the
identity of the firm entering a Directed Order until September 30,
2006.
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 ISE 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. The ISE 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
On January 5, 2006, the ISE initiated a system change to identify
to a DMM the identity of the firm entering a Directed Order. The ISE
filed this system change on a pilot basis under section 19(b)(3)(A) of
the Act and Rule 19b-4(f)(5) thereunder \5\ so that it would be
effective while the Commission considered a separate proposed rule
change filed under section 19(b)(2) of the Act to amend the ISE's rules
to reflect the system change on a permanent basis (the ``Permanent Rule
Change'').\6\ The pilot currently expires on June 30, 2006, but the
Commission has not yet taken action with respect to the Permanent Rule
Change. Accordingly, the Exchange proposes to extend the pilot until
September 30, 2006, so that the system change will remain in effect
while the Commission continues to evaluate the Permanent Rule
Change.\7\
---------------------------------------------------------------------------
\5\ Securities Exchange Act Release No. 53104 (Jan. 11, 2006),
71 FR 3142 (Jan. 19, 2006) (Notice of Filing and Immediate
Effectiveness for SR-ISE-2006-02).
\6\ Securities Exchange Act Release No. 53103 (Jun. 11, 2006),
71 FR 3144 (Jan. 19, 2006) (Notice of Filing for SR-ISE-2006-01).
\7\ The ISE anticipated that extension of the pilot might be
necessary and included this in the filing for the initial pilot. See
supra note 3, at footnote 5.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the basis under the Act is found in
section 6(b)(5), in that the propose rule change is designed to promote
just and equitable principles of trade, remove impediments to and
perfect the mechanisms of a free and open market and a national market
system and, in general, to protect investors and the public interest.
Extension of the pilot program will allow the Exchange to remain
competitive with the Boston Options Exchange (``BOX''), which operates
a directed orders program that discloses the identity of an entering
firm to the BOX directed market maker.\8\
---------------------------------------------------------------------------
\8\ See Securities Exchange Act Release Nos. 53015 (Dec. 22,
2005), 70 FR 77207 (Dec. 29, 2005); 53357 (Feb. 23, 2006); and 71 FR
10730 (March 2, 2006) (SR-BSE-2005-52).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange 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
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change effects a change in an
existing order entry or trading system that (i) does not significantly
affect the protection of investors or the public interest; (ii) does
not impose any significant burden on competition; and (iii) does not
have the effect of limiting access to or availability of the system, it
has become effective pursuant to section 19(b)(3)(A)(iii) of the Act
\9\ and Rule 19b-4(f)(5) thereunder.\10\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A)(iii).
\10\ 17 CFR 19b-4(f)(5).
---------------------------------------------------------------------------
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 No. SR-ISE-2006-35 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-ISE-2006-35. 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 ISE.
All comments received will be posted without change; the Commission
does not edit personal identifying information from submissions. You
[[Page 38922]]
should submit only information that you wish to make available
publicly. All submissions should refer to File Number SR-ISE-2006-35
and should be submitted on or before July 31, 2006.
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\11\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\11\
Nancy M. Morris,
Secretary.
[FR Doc. E6-10719 Filed 7-7-06; 8:45 am]
BILLING CODE 8010-01-P
