Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to a System Change to the Options Floor Broker Management System, 41064-41066 [E6-11390]
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41064
Federal Register / Vol. 71, No. 138 / Wednesday, July 19, 2006 / Notices
security or calculated index value at
about the time that the Short Term
Option Series is opened.8 CBOE is now
proposing to modify these terms of the
Pilot Program to provide that up to
seven (as opposed to five) Short Term
Option Series may be opened in an
options class selected for the program
for each expiration date. Approximately
the same number of strike prices would
be opened above and below the value of
the underlying security or calculated
index value at about the time the Short
Term Option Series are initially opened
for trading. For example, if seven series
are initially opened, there will be at
least three strike prices above and three
strike prices below the value of the
underlying security or calculated index
value. In addition, the Exchange is
proposing that, if the Exchange has
opened less than seven Short Term
Option Series in a particular options
class for a given expiration date,
additional series in that class may be
opened for trading on the Exchange
when the Exchange deems it necessary
to maintain an orderly market, to meet
customer demand, or when the current
value of the underlying index moves
substantially from the exercise price or
prices of the series already opened. In
any event, the total number of series for
a given expiration date will not exceed
seven.
sroberts on PROD1PC70 with NOTICES
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
section 6(b) of the Act 9 in general, and
furthers the objectives of section 6(b)(5)
of the Act 10 in particular, in that it is
designed to promote just and equitable
principles of trade, to prevent
fraudulent and manipulative acts, to
remove impediments to and to perfect
the mechanism for a free and open
market and a national market system,
and, in general, to protect investors and
the public interest. The Exchange
believes that the proposed modification
to the Pilot Program would result in a
continuing benefit to investors, by
allowing the Exchange to maintain an
orderly market and meet customer
demand, and accommodate instances
where the underlying security or index
value may move substantially. As such,
the Exchange believes the change would
increase the utility of the Pilot Program,
consistent with the Pilot Program’s
objectives.
8 The interval between strike prices on a Short
Term Option Series is the same as with the
corresponding monthly options series.
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(5).
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18:28 Jul 18, 2006
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B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change would 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
Written comments were neither
solicited nor received with respect to
the proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such longer period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the self-regulatory
organization consents, the Commission
will:
(A) By order approve such proposed
rule change, or
(B) Institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change, as amended, 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–2006–49 on the
subject line.
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 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–CBOE–2006–49 and should
be submitted on or before August 9,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6–11388 Filed 7–18–06; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–54138; File No. SR–Phlx–
2006–35]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to a System Change
to the Options Floor Broker
Management System
July 12, 2006.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
Paper Comments
notice is hereby given that on May 18,
2006,the Philadelphia Stock Exchange,
• Send paper comments in triplicate
Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with
to Nancy M. Morris, Secretary,
the Securities and Exchange
Securities and Exchange Commission,
Commission (‘‘Commission’’) the
Station Place, 100 F Street, NE.,
proposed rule change as described in
Washington, DC 20549–1090.
Items I, II, and III below, which Items
All submissions should refer to File
have been prepared by the Phlx. On July
Number SR–CBOE–2006–49. This file
12, the Exchange filed Amendment No.
number should be included on the
subject line if e-mail is used. To help the 1 to the proposed rule change.3 The
Commission process and review your
11 17 CFR 200.30–3(a)(12).
comments more efficiently, please use
1 15 U.S.C. 78s(b)(1).
only one method. The Commission will
2 17 CFR 240.19b–4.
post all comments on the Commission’s
3 See Form 19b–4 dated July 12, 2006
Internet Web site (https://www.sec.gov/
(‘‘Amendment No. 1’’). Amendment No. 1 replaced
the original filing in its entirety. Telephone
rules/sro.shtml). Copies of the
PO 00000
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Federal Register / Vol. 71, No. 138 / Wednesday, July 19, 2006 / Notices
Exchange filed the proposal pursuant to
section 19(b)(3)(A) of the Act 4 and Rule
19b–4(f)(5) thereunder,5 which renders
the proposal effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change,
as amended, from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Phlx proposes to amend
Exchange Rule 1063(e) to include a
cross 6 as one of the transaction
categories to be recorded onto the
Options Floor Broker Management
System (‘‘FBMS’’).7 The text of the
proposed rule change, as amended, is
available on the Phlx’s Web site (https://
www.phlx.com), at the Phlx’s Office of
the Secretary, 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
sroberts on PROD1PC70 with NOTICES
In its filing with the Commission, the
Exchange 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
Phlx has prepared summaries, set forth
in Sections A, B, and C below, of the
most significant aspects of such
statements.
conversation between Anthony Voci, Director and
Counsel, Phlx, and Natasha Cowen, Commission,
Division of Market Regulation (‘‘Division’’), on July
12, 2006 (‘‘Telephone Conversation’’).
4 15 U.S.C. 78s(b)(3)(A).
5 17 CFR 240.19b–4(f)(5).
6 A cross can occur when a Floor Broker holds
orders to buy and sell the same options series. See
Exchange Rule 1064(a).
7 The FBMS is a component of AUTOM, the
Exchange’s electronic order delivery, routing,
execution and reporting system. See Exchange Rule
1080. The FBMS is designed to enable Floor
Brokers and/or their employees to enter, route and
report transactions stemming from options orders
received on the Exchange. The Options Floor
Broker Management System also is designed to
establish an electronic audit trail for options orders
represented and executed by Floor Brokers on the
Exchange, such that the audit trial provides an
accurate, time-sequenced record of electronic and
other orders, quotations and transactions on the
Exchange, beginning with the receipt of an order by
the Exchange, and further documenting the life of
the order through the process of execution, partial
execution, or cancellation of that order.
VerDate Aug<31>2005
18:28 Jul 18, 2006
Jkt 208001
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
In July, 2003, the Exchange
implemented a consolidated options
audit trail system (‘‘COATS’’) to create
an electronic audit trail for nonelectronic orders and to improve, among
other things, order handling by Floor
Brokers, by deploying the FBMS.8 The
purpose of the instant proposed rule
change is to improve the existing
electronic audit trail and provide a more
efficient options marketplace by
augmenting the FBMS, as described
below.
Currently, the FBMS only provides
one mechanism for cross transactions
that are executed by Floor Brokers, i.e.,
the entry of two separate, contra-side
orders for the same series. The Exchange
is implementing a new, additional
screen on the FBMS to reflect certain
crosses as a single transaction, rather
than requiring separate buy and sell
transactions to be recorded.
Specifically, in cross transactions
where both sides of the transaction
contain completely identical terms,9
Floor Brokers will select the new cross
screen which will automatically
duplicate all of the terms of the
initiating order to record the contra side,
prior to representation in the crowd.
The Exchange believes that this should
better capture the actual time of receipt
of a crossing order by streamlining the
data entry process required of Floor
Brokers pursuant to Exchange Rule
1063(e).
Finally, the proposed systems change
will not replace the current rules setting
forth the in-crowd requirements for
Floor Brokers for handling crosses,10 but
will improve the FBMS.
2. Statutory Basis
The Exchange believes that its
proposal, as amended, is consistent with
section 6(b) of the Act 11 in general, and
furthers the objectives of section 6(b)(5)
of the Act 12 in particular, in that it is
designed to promote just and equitable
principles of trade, to remove
impediments to and perfect the
8 See Securities Exchange Act Release No. 48266
(July 31, 2003), 68 FR 47131 (August 7, 2003) (SR–
Phlx–2003–56).
9 The following terms must be identical in order
for the new cross screen to be utilized: order type,
option symbol, price, number of contracts, any
contingency indicators, and the clearing number of
the broker-dealer that submitted the order.
Telephone Conversation.
10 See Exchange Rule 1064.
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).
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41065
mechanism of a free and open market
and a national market system, and, in
general to protect investors and the
public interest, by maintaining an
accurate, time-sequenced audit trail of
options transactions.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change, as amended,
will impose any burden on competition
that is not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change, as
amended, has become effective pursuant
to section 19(b)(3)(A) of the Act 13 and
Rule 19b–4(f)(5) thereunder.14 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 furtherance of the purposes of the
Act.15
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change, as amended, 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–Phlx–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.
13 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(5).
15 For purposes of calculating the 60-day
abrogation period, the Commission considers the
proposed rule change to have been filed on July 12,
2006, when Amendment No. 1 was filed.
14 17
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41066
Federal Register / Vol. 71, No. 138 / Wednesday, July 19, 2006 / Notices
All submissions should refer to File
Number SR–Phlx–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 offices of Phlx. 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–Phlx–2006–35 and should
be submitted on or before August 9,
2006.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.16
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6–11390 Filed 7–18–06; 8:45 am]
BILLING CODE 8010–01–P
SOCIAL SECURITY ADMINISTRATION
The Ticket to Work and Work
Incentives Advisory Panel Meeting
AGENCY:
Social Security Administration
(SSA).
ACTION:
Notice of quarterly meeting.
August 16, 2006—9 a.m. to 5:30
p.m.; August 17, 2006—1:30 p.m. to 5
p.m.; August 18, 2006—9 a.m. to 12
noon.
DATES:
Double Tree Hotel Crystal
City, 300 Army Navy Drive, Arlington,
VA 22202. Phone: 703–416–4100.
SUPPLEMENTARY INFORMATION:
Type of Meeting: On August 16–18,
2006, the Ticket to Work and Work
Incentives Advisory Panel (the ‘‘Panel’’)
will hold a quarterly meeting open to
the public.
sroberts on PROD1PC70 with NOTICES
ADDRESSES:
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18:28 Jul 18, 2006
Jkt 208001
Purpose: In accordance with section
10(a)(2) of the Federal Advisory
Committee Act, the Social Security
Administration (SSA) announces a
meeting of the Ticket to Work and Work
Incentives Advisory Panel. Section
101(f) of Public Law 106–170
establishes the Panel to advise the
President, the Congress, and the
Commissioner of SSA on issues related
to work incentive programs, planning,
and assistance for individuals with
disabilities as provided under section
101(f)(2)(A) of the TWWIA. The Panel is
also to advise the Commissioner on
matters specified in section 101(f)(2)(B)
of that Act, including certain issues
related to the Ticket to Work and SelfSufficiency Program established under
section 101(a) of that Act.
Interested parties are invited to attend
the meeting. The Panel will use the
meeting time to receive briefings and
presentations on matters of interest,
conduct full Panel deliberations on the
implementation of the Act and receive
public testimony.
The Panel will meet in person
commencing on Wednesday, August 16,
2006, from 9 a.m. until 5:30 p.m. The
quarterly meeting will continue on
Thursday, August 17, 2006, from 1:30
p.m. until 5 p.m. and on Friday, August
18, 2006, from 9 a.m. until 12 noon.
Agenda: The full agenda will be
posted at least one week before the start
of the meeting on the Internet at https://
www.ssa.gov/work/panel/
meeting_information/agendas.html, or
can be received, in advance,
electronically or by fax upon request.
Public testimony will be heard on
Wednesday, August 16, 2006, from 1:30
p.m. until 2:30 p.m. and Thursday,
August 17, 2006, from 3:15 p.m. until
3:45 p.m. Individuals interested in
providing testimony in person should
contact the Panel staff as outlined below
to schedule a time slot. Members of the
public must schedule a time slot in
order to comment. In the event public
comments do not take the entire
scheduled time period, the Panel may
use that time to deliberate or conduct
other Panel business. Each individual
providing public comment will be
acknowledged by the Chair in the order
in which they are scheduled to testify
and is limited to a maximum fiveminute, verbal presentation.
Full written testimony on the
Implementation of the Ticket to Work
and Work Incentives Program, no longer
than five (5) pages, may be submitted in
person or by mail, fax or e-mail on an
ongoing basis to the Panel for
consideration.
Since seating may be limited, persons
interested in providing testimony at the
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meeting should contact the Panel staff
by e-mailing Ms. Tinya White-Taylor, at
Tinya.White-Taylor@ssa.gov or by
calling (202) 358–6420.
Contact Information: Records are kept
of all proceedings and will be available
for public inspection by appointment at
the Panel office. Anyone requiring
information regarding the Panel should
contact the staff by:
• Mail addressed to the Social
Security Administration, Ticket to Work
and Work Incentives Advisory Panel
Staff, 400 Virginia Avenue, SW., Suite
700, Washington, DC 20024.
• Telephone contact with Tinya
White-Taylor at (202) 358–6420.
• Fax at (202) 358–6440.
• E-mail to TWWIIAPanel@ssa.gov.
Dated: July 11, 2006.
Chris Silanskis,
Designated Federal Officer.
[FR Doc. E6–11410 Filed 7–18–06; 8:45 am]
BILLING CODE 4191–02–P
DEPARTMENT OF STATE
[Public Notice 5468]
60-Day Notice of Proposed Information
Collection: DS–1884, Petition to
Classify Special Immigrant Under INA
203(b)(4) as an Employee or Former
Employee of the U.S. Government
Abroad, OMB Control Number 1405–
0082
Notice of request for public
comments.
ACTION:
SUMMARY: The Department of State is
seeking Office of Management and
Budget (OMB) approval for the
information collection described below.
The purpose of this notice is to allow 60
days for public comment in the Federal
Register preceding submission to OMB.
We are conducting this process in
accordance with the Paperwork
Reduction Act of 1995.
Title of Information Collection:
Petition for Classify Special Immigrant
Under INA 203(b)(4) as an Employee or
Former Employee of the U.S.
Government Abroad.
OMB Control Number: 1405–0082.
Type of Request: Extension of a
Currently Approved Collection.
Originating Office: Bureau of Consular
Affairs, Office of Visa Services (CA/VO)
Form Number: DS–1884.
Respondents: Aliens petitioning for
immigrant visas under INA 203(b)(4).
Estimated Number of Respondents:
300 per year.
Estimated Number of Responses: 300
per year.
Average Hours per Response: 30
minutes.
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]]>Agencies
[Federal Register Volume 71, Number 138 (Wednesday, July 19, 2006)]
[Notices]
[Pages 41064-41066]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-11390]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-54138; File No. SR-Phlx-2006-35]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to a System Change to the Options Floor Broker Management
System
July 12, 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 18, 2006,the Philadelphia Stock Exchange, Inc. (``Phlx'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the Phlx. On July 12,
the Exchange filed Amendment No. 1 to the proposed rule change.\3\ The
[[Page 41065]]
Exchange filed the proposal pursuant to section 19(b)(3)(A) of the Act
\4\ and Rule 19b-4(f)(5) thereunder,\5\ which renders the proposal
effective upon filing with the Commission. The Commission is publishing
this notice to solicit comments on the proposed rule change, as
amended, from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Form 19b-4 dated July 12, 2006 (``Amendment No. 1'').
Amendment No. 1 replaced the original filing in its entirety.
Telephone conversation between Anthony Voci, Director and Counsel,
Phlx, and Natasha Cowen, Commission, Division of Market Regulation
(``Division''), on July 12, 2006 (``Telephone Conversation'').
\4\ 15 U.S.C. 78s(b)(3)(A).
\5\ 17 CFR 240.19b-4(f)(5).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Phlx proposes to amend Exchange Rule 1063(e) to include a cross
\6\ as one of the transaction categories to be recorded onto the
Options Floor Broker Management System (``FBMS'').\7\ The text of the
proposed rule change, as amended, is available on the Phlx's Web site
(https://www.phlx.com), at the Phlx's Office of the Secretary, and at
the Commission's Public Reference Room.
---------------------------------------------------------------------------
\6\ A cross can occur when a Floor Broker holds orders to buy
and sell the same options series. See Exchange Rule 1064(a).
\7\ The FBMS is a component of AUTOM, the Exchange's electronic
order delivery, routing, execution and reporting system. See
Exchange Rule 1080. The FBMS is designed to enable Floor Brokers
and/or their employees to enter, route and report transactions
stemming from options orders received on the Exchange. The Options
Floor Broker Management System also is designed to establish an
electronic audit trail for options orders represented and executed
by Floor Brokers on the Exchange, such that the audit trial provides
an accurate, time-sequenced record of electronic and other orders,
quotations and transactions on the Exchange, beginning with the
receipt of an order by the Exchange, and further documenting the
life of the order through the process of execution, partial
execution, or cancellation of that order.
---------------------------------------------------------------------------
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 Exchange 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 Phlx 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
In July, 2003, the Exchange implemented a consolidated options
audit trail system (``COATS'') to create an electronic audit trail for
non-electronic orders and to improve, among other things, order
handling by Floor Brokers, by deploying the FBMS.\8\ The purpose of the
instant proposed rule change is to improve the existing electronic
audit trail and provide a more efficient options marketplace by
augmenting the FBMS, as described below.
---------------------------------------------------------------------------
\8\ See Securities Exchange Act Release No. 48266 (July 31,
2003), 68 FR 47131 (August 7, 2003) (SR-Phlx-2003-56).
---------------------------------------------------------------------------
Currently, the FBMS only provides one mechanism for cross
transactions that are executed by Floor Brokers, i.e., the entry of two
separate, contra-side orders for the same series. The Exchange is
implementing a new, additional screen on the FBMS to reflect certain
crosses as a single transaction, rather than requiring separate buy and
sell transactions to be recorded.
Specifically, in cross transactions where both sides of the
transaction contain completely identical terms,\9\ Floor Brokers will
select the new cross screen which will automatically duplicate all of
the terms of the initiating order to record the contra side, prior to
representation in the crowd. The Exchange believes that this should
better capture the actual time of receipt of a crossing order by
streamlining the data entry process required of Floor Brokers pursuant
to Exchange Rule 1063(e).
---------------------------------------------------------------------------
\9\ The following terms must be identical in order for the new
cross screen to be utilized: order type, option symbol, price,
number of contracts, any contingency indicators, and the clearing
number of the broker-dealer that submitted the order. Telephone
Conversation.
---------------------------------------------------------------------------
Finally, the proposed systems change will not replace the current
rules setting forth the in-crowd requirements for Floor Brokers for
handling crosses,\10\ but will improve the FBMS.
---------------------------------------------------------------------------
\10\ See Exchange Rule 1064.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal, as amended, is consistent
with section 6(b) of the Act \11\ in general, and furthers the
objectives of section 6(b)(5) of the Act \12\ in particular, in that it
is designed to promote just and equitable principles of trade, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and, in general to protect
investors and the public interest, by maintaining an accurate, time-
sequenced audit trail of options transactions.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change, as
amended, will impose any burden on competition that is not necessary or
appropriate in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change, as amended, has become effective
pursuant to section 19(b)(3)(A) of the Act \13\ and Rule 19b-4(f)(5)
thereunder.\14\ 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 furtherance of the purposes of the Act.\15\
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(5).
\15\ For purposes of calculating the 60-day abrogation period,
the Commission considers the proposed rule change to have been filed
on July 12, 2006, when Amendment No. 1 was filed.
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IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change, as amended, 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-Phlx-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.
[[Page 41066]]
All submissions should refer to File Number SR-Phlx-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 offices of Phlx. 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-Phlx-2006-35 and should be submitted on or before August 9, 2006.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\16\
\16\ 17 CFR 200.30-3(a)(12).
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J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-11390 Filed 7-18-06; 8:45 am]
BILLING CODE 8010-01-P
