Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Date for Compliance With Regulation NMS, 45876-45878 [E6-13004]

Download as PDF 45876 Federal Register / Vol. 71, No. 154 / Thursday, August 10, 2006 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others 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: The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the proposed rule change: (i) Does not significantly affect the protection of investors or the public interest; (ii) does not impose any significant burden on competition; and (iii) by its terms, does not become operative for 30 days after the date of filing, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to section 19(b)(3)(A) of the Act 8 and subparagraph (f)(6) of Rule 19b–4 thereunder.9 The Exchange has requested that the Commission waive the 30-day operative delay period for ‘‘non-controversial’’ proposals and make the proposed rule change effective and operative upon filing. The Commission hereby grants the request. The Commission believes that waiver of the 30-day operative delay is consistent with the protection of investors and the public interest. In this regard, the Commission believes that the proposal should be implemented without delay because of its immediate applicability with respect to the RSA among ISE, CBOE and the other ORSA participants.10 For this reason, the Commission designates the proposal to be effective and operative upon filing with the Commission. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in the furtherance of the purposes of the Act.11 8 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 10 The Commission notes that the proposed rule change is based on a similar rule of the Boston Stock Exchange, Inc. See Securities Exchange Act Release No. 53436 (March 7, 2006), 71 FR 13194 (March 14, 2006) (SR–BSE–2006–08). 11 See 15 U.S.C. 78s(b)(3)(C). For purposes of calculating the 60-day period within which the Commission may summarily abrogate the proposed rule change, as amended, under Section 19(b)(3)(C) of the Act, the Commission considers the period to commence on July 7, 2006, the date on which the Exchange submitted Amendment No. 1. rwilkins on PROD1PC61 with NOTICES 9 17 VerDate Aug<31>2005 21:27 Aug 09, 2006 Jkt 208001 Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–ISE–2006–34 on the subject line. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54271; File No. SR– NASDAQ–2006–027] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Date for Compliance With Regulation NMS August 3, 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 August 2, Paper Comments 2006, The NASDAQ Stock Market LLC • Send paper comments in triplicate (‘‘Nasdaq’’) filed with the Securities and to Nancy M. Morris, Secretary, Exchange Commission (‘‘Commission’’) Securities and Exchange Commission, the proposed rule change as described 100 F Street, NE., Washington, DC in Items I and II below, which Items 20549–1090. have been prepared by Nasdaq. Nasdaq All submissions should refer to File has filed the proposal pursuant to Number SR–ISE–2006–34. This file Section 19(b)(3)(A) of the Act 3 and Rule number should be included on the 4 subject line if e-mail is used. To help the 19b–4(f)(6) thereunder, which renders the proposal effective upon filing with Commission process and review your the Commission. The Commission is comments more efficiently, please use only one method. The Commission will publishing this notice to solicit post all comments on the Commission’s comments on the proposed rule change from interested persons. Internet Web site (http://www.sec.gov/ rules/sro.shtml). Copies of the I. Self-Regulatory Organization’s submission, all subsequent Statement of the Terms of Substance of amendments, all written statements the Proposed Rule Change with respect to the proposed rule change that are filed with the Nasdaq proposes to modify the date Commission, and all written upon which its execution systems communications relating to the would be in compliance with proposed rule change between the Regulation NMS under the Act Commission and any person, other than (‘‘Regulation NMS’’). The text of the those that may be withheld from the proposed rule change is available on public in accordance with the Nasdaq’s Web site at http:// provisions of 5 U.S.C. 552, will be www.nasdaq.com, at the principal office available for inspection and copying in of Nasdaq, and at the Commission’s the Commission’s Public Reference Public Reference Room. Room. Copies of such filing also will be II. Self-Regulatory Organization’s available for inspection and copying at the principal office of the Exchange. All Statement of the Purpose of, and Statutory Basis for, the Proposed Rule comments received will be posted Change without change; the Commission does not edit personal identifying In its filing with the Commission, information from submissions. You Nasdaq included statements concerning should submit only information that the purpose of and basis for the you wish to make available publicly. All proposed rule change and discussed any submissions should refer to File Number SR–ISE–2006–34 and should be comments it received on the proposed submitted on or before August 31, 2006. rule change. The text of these statements may be examined at the places specified For the Commission, by the Division of in Item IV below. Nasdaq has prepared Market Regulation, pursuant to delegated summaries, set forth in sections A, B, authority.12 and C below, of the most significant Nancy M. Morris, aspects of such statements. Secretary. [FR Doc. E6–13006 Filed 8–9–06; 8:45 am] BILLING CODE 8010–01–P 12 17 PO 00000 Fmt 4703 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6). 2 17 CFR 200.30–3(a)(12). Frm 00112 1 15 Sfmt 4703 E:\FR\FM\10AUN1.SGM 10AUN1 Federal Register / Vol. 71, No. 154 / Thursday, August 10, 2006 / Notices III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose Nasdaq proposes to modify certain of its rules that become effective upon the compliance date for Regulation NMS. In a previous proposal, Nasdaq had listed the compliance date as May 21, 2007,5 the date established by the Commission for full industry compliance.6 The Commission has established February 5, 2007, as the date of compliance for all automated trading centers such as Nasdaq. Accordingly, Nasdaq is proposing to modify its approved rules to demonstrate compliance with Regulation NMS by February 5, 2007, to conform with the Commission’s scheduled compliance date. 2. Statutory Basis Nasdaq believes that the proposed rule change is consistent with the provisions of Section 6 of the Act,7 in general, and with Sections 6(b)(5) of the Act,8 in particular, in that the proposal is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, 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. Nasdaq believes that the proposed rule change clarifies certain terms in Nasdaq’s rules. B. Self-Regulatory Organization’s Statement on Burden on Competition Nasdaq does not believe that the proposed rule change will result in 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. interest, for the protection of investors or otherwise in furtherance of the purposes of the Act. The foregoing proposed rule change is subject to Section 19(b)(3)(A)(iii) of the Act 9 and Rule 19b–4(f)(6) thereunder 10 because the proposal: (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 become operative prior to 30 days after the date of filing or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest; provided that Nasdaq has given the Commission notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. Nasdaq has requested that the Commission waive the five-day prefiling requirement and the 30-day preoperative delay. Nasdaq believes that the filing may appropriately be designated as ‘‘non-controversial’’ because the filing would conform certain of Nasdaq’s rules to changes made in Regulation NMS. Accordingly, Nasdaq believes that its proposal should become immediately effective and the Commission should grant Nasdaq’s request to waive the 5-day pre-filing requirement and the 30-day preoperative waiting period. The Commission believes that waiving the five-day pre-filing requirement and the 30-day pre-operative delay is consistent with the protection of investors and the public interest because such waiver would permit Nasdaq to clarify the proposed rule change prior to the launch of Nasdaq’s new integrated system, Single Book. For this reason, the Commission designates the proposed rule change to be effective and operative upon filing with the Commission.11 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 IV. Solicitation of Comments 9 15 rwilkins on PROD1PC61 with NOTICES 5 See Securities Exchange Act Release No. 54155 (July 14, 2006), 71 FR 41291 (July 20, 2006). 6 See Securities Exchange Act Release No. 53829 (May 18, 2006), 71 FR 30038 (May 24, 2006). 7 15 U.S.C. 78f. 8 15 U.S.C. 78f(b)(5). VerDate Aug<31>2005 21:27 Aug 09, 2006 Jkt 208001 45877 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 11 For the purposes only of waiving the 30-day pre-operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 10 17 PO 00000 Frm 00113 Fmt 4703 Sfmt 4703 Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NASDAQ–2006–027 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–NASDAQ–2006–027. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (http://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room. Copies of the filing also will be available for inspection and copying at the principal office of Nasdaq. 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–NASDAQ–2006–027 and should be submitted on or before August 31, 2006. E:\FR\FM\10AUN1.SGM 10AUN1 45878 Federal Register / Vol. 71, No. 154 / Thursday, August 10, 2006 / Notices For the Commission, by the Division of Market Regulation, pursuant to delegated authority.12 Nancy M. Morris, Secretary. [FR Doc. E6–13004 Filed 8–9–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54274; File No. SR– NASDAQ–2006–020] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Clarify the Rules of the Nasdaq Global Select Market August 3, 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 July 28, 2006, The NASDAQ Stock Market LLC (‘‘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 filed the proposal as a non-controversial rule change pursuant to section 19(b)(3)(A)(iii) of the Act3 and Rule 19b–4(f)(6) 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 Nasdaq clarifies certain rules related to the Nasdaq Global Select Market and corrects a typographical error. The text of the proposed rule change is below. Proposed new language is italicized; proposed deletions are [bracketed].5 * * * * * 4425. Nasdaq Global Select Market (a) An issuer that applies for listing on the [Nasdsaq] Nasdaq Global Market and meets the requirements for initial listing contained in Rule 4426 shall be listed on the Nasdaq Global Select Market. (b)–(f) No change. rwilkins on PROD1PC61 with NOTICES 12 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)(iii). 4 17 CFR 240.19b–4(f)(6). 5 Changes are marked to the rule text that appears in the electronic manual of Nasdaq found at http:// www.nasdaqtrader.com. 1 15 VerDate Aug<31>2005 21:27 Aug 09, 2006 Jkt 208001 4426. Nasdaq Global Select Market Listing Requirements (a) No change. (b) Liquidity Requirements (1) The security must demonstrate either: (A)–(B) No change. (C) a minimum of 450 beneficial shareholders, in the case of: (i) An issuer listing in connection with [its emergence from a bankruptcy or reorganization proceeding;] a courtapproved reorganization under the federal bankruptcy laws or comparable foreign laws; or (ii) an issuer that is affiliated with another company listed on the Global Select Market. (2) No change. (3) The publicly held shares must have either: (A)–(B) No change. (C) a market value of at least $70 million in the case of: (i) An issuer listing in connection with its initial public offering; (ii) an issuer that is affiliated with, or a spin-off from, another company listed on the Global Select Market; and (iii) a closed end management investment company registered under the Investment Company Act of 1940. (c)–(d) No change. (e) Closed End Management Investment Companies. (1) A closed end management investment company registered under the Investment Company Act of 1940 shall not be required to meet paragraph (c) of this Rule 4426. (2) In lieu of the requirement in paragraph (b)(3) of this Rule 4426, a closed end management investment company that is listed concurrently with other closed end management investment companies that have a common investment adviser [(]or whose investment advisers are ‘‘affiliated persons,’’ as defined in the Investment Company Act of 1940[)] (a ‘‘Fund Family’’) shall be eligible if: (A) the total market value of publicly held shares in such Fund Family is at least $220 million; (B) the average market value of publicly held shares for all funds in the Fund Family is $50 million; and (C) each fund in the Fund Family has a market value of publicly held shares of at least $35 million. (f) No change. * * * * * II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, Nasdaq included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 rule change. The text of these statements may be examined at the places specified in Item IV below. Nasdaq 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 Nasdaq recently created a new listing segment known as the Nasdaq Global Select Market. Issuers listed on the Nasdaq Global Select Market must meet higher initial listing requirements and will receive certain differentiated services from Nasdaq.6 While Nasdaq originally filed the rules related to the Nasdaq Global Select Market as changes to Nasdaq Rules that will be operative once Nasdaq begins operations as a national securities exchange,7 in order to implement the new segment on July 1, 2006, prior to Nasdaq’s operation as an exchange, Nasdaq also filed these rules as changes to the rules of NASD (the ‘‘NASD Filing’’).8 This filing incorporates into Nasdaq Rules certain clarifying changes made in the NASD Filing and corrects a typographical error. 2. Statutory Basis Nasdaq believes that the proposed rule change is consistent with the provisions of section 6 of the Act,9 in general, and section 6(b)(5) of the Act,10 in particular, in that the proposal is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in 6 These differentiated services involve the provision of academic, research, and corporate governance materials and support that recognize the size and stature of companies on the Nasdaq Global Select Market. For example, companies on the Nasdaq Global Select Market may receive access to additional reports through Nasdaq’s Market Intelligence Desk and Nasdaq Online, peer and industry information derived from surveys and third parties, and access to third-party research about their companies. 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. 54071 (June 29, 2006), 71 FR 38922 (July 10, 2006) (SR– NASD–2006–068). 9 15 U.S.C. 78f. 10 15 U.S.C. 78f(b)(5). E:\FR\FM\10AUN1.SGM 10AUN1

Agencies

[Federal Register Volume 71, Number 154 (Thursday, August 10, 2006)]
[Notices]
[Pages 45876-45878]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-13004]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54271; File No. SR-NASDAQ-2006-027]


Self-Regulatory Organizations; The NASDAQ Stock Market LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Modify the Date for Compliance With Regulation NMS

August 3, 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 August 2, 2006, The NASDAQ Stock Market LLC (``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 the 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. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
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    \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)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    Nasdaq proposes to modify the date upon which its execution systems 
would be in compliance with Regulation NMS under the Act (``Regulation 
NMS''). The text of the proposed rule change is available on Nasdaq's 
Web site at http://www.nasdaq.com, at the principal office of Nasdaq, 
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, Nasdaq 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. Nasdaq has prepared summaries, set forth in sections A, 
B, and C below, of the most significant aspects of such statements.

[[Page 45877]]

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    Nasdaq proposes to modify certain of its rules that become 
effective upon the compliance date for Regulation NMS. In a previous 
proposal, Nasdaq had listed the compliance date as May 21, 2007,\5\ the 
date established by the Commission for full industry compliance.\6\ The 
Commission has established February 5, 2007, as the date of compliance 
for all automated trading centers such as Nasdaq. Accordingly, Nasdaq 
is proposing to modify its approved rules to demonstrate compliance 
with Regulation NMS by February 5, 2007, to conform with the 
Commission's scheduled compliance date.
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    \5\ See Securities Exchange Act Release No. 54155 (July 14, 
2006), 71 FR 41291 (July 20, 2006).
    \6\ See Securities Exchange Act Release No. 53829 (May 18, 
2006), 71 FR 30038 (May 24, 2006).
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2. Statutory Basis
    Nasdaq believes that the proposed rule change is consistent with 
the provisions of Section 6 of the Act,\7\ in general, and with 
Sections 6(b)(5) of the Act,\8\ in particular, in that the proposal is 
designed to prevent fraudulent and manipulative acts and practices, to 
promote just and equitable principles of trade, to foster cooperation 
and coordination with persons engaged in regulating, clearing, 
settling, processing information with respect to, and facilitating 
transactions in securities, 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. Nasdaq 
believes that the proposed rule change clarifies certain terms in 
Nasdaq's rules.
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    \7\ 15 U.S.C. 78f.
    \8\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    Nasdaq does not believe that the proposed rule change will result 
in 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.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing proposed rule change is subject to Section 
19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-4(f)(6) thereunder \10\ 
because the proposal: (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 become operative 
prior to 30 days after the date of filing or such shorter time as the 
Commission may designate if consistent with the protection of investors 
and the public interest; provided that Nasdaq has given the Commission 
notice of its intent to file the proposed rule change, along with a 
brief description and text of the proposed rule change, at least five 
business days prior to the date of filing of the proposed rule change, 
or such shorter time as designated by the Commission.
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    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 17 CFR 240.19b-4(f)(6).
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    Nasdaq has requested that the Commission waive the five-day pre-
filing requirement and the 30-day pre-operative delay. Nasdaq believes 
that the filing may appropriately be designated as ``non-
controversial'' because the filing would conform certain of Nasdaq's 
rules to changes made in Regulation NMS. Accordingly, Nasdaq believes 
that its proposal should become immediately effective and the 
Commission should grant Nasdaq's request to waive the 5-day pre-filing 
requirement and the 30-day pre-operative waiting period. The Commission 
believes that waiving the five-day pre-filing requirement and the 30-
day pre-operative delay is consistent with the protection of investors 
and the public interest because such waiver would permit Nasdaq to 
clarify the proposed rule change prior to the launch of Nasdaq's new 
integrated system, Single Book. For this reason, the Commission 
designates the proposed rule change to be effective and operative upon 
filing with the Commission.\11\
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    \11\ For the purposes only of waiving the 30-day pre-operative 
delay, the Commission has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    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 (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NASDAQ-2006-027 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-NASDAQ-2006-027. This 
file number should be included on the subject line if e-mail is used. 
To help the Commission process and review your comments more 
efficiently, please use only one method. The Commission will post all 
comments on the Commission's Internet Web site (http://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments, 
all written statements with respect to the proposed rule change that 
are filed with the Commission, and all written communications relating 
to the proposed rule change between the Commission and any person, 
other than those that may be withheld from the public in accordance 
with the provisions of 5 U.S.C. 552, will be available for inspection 
and copying in the Commission's Public Reference Room. Copies of the 
filing also will be available for inspection and copying at the 
principal office of Nasdaq. 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-NASDAQ-2006-027 and should be submitted on or before 
August 31, 2006.


[[Page 45878]]


    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-13004 Filed 8-9-06; 8:45 am]
BILLING CODE 8010-01-P