Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Approving a Proposed Rule Change Regarding Market-Maker Appointments, 52351 [E6-14597]

Download as PDF Federal Register / Vol. 71, No. 171 / Tuesday, September 5, 2006 / Notices SECURITIES AND EXCHANGE COMMISSION SECURITIES AND EXCHANGE COMMISSION Sunshine Act Meeting [Release No. 34–54379; File No. SR–CBOE– 2006–66] Notice is hereby given, pursuant to the provisions of the Government in the Sunshine Act, Pub. L. 94–409, that the Securities and Exchange Commission will hold the following meeting during the week of September 5, 2006: A closed meeting will be held on Thursday, September 7, 2006 at 2 p.m. Commissioners, Counsels to the Commissioners, the Secretary to the Commission, and recording secretaries will attend the closed meeting. Certain staff members who have an interest in the matters may also be present. The General Counsel of the Commission, or his designee, has certified that, in his opinion, one or more of the exemptions set forth in 5 U.S.C. 552b(c)(3), (5), (6), (7), (9)(B) and (10) and 17 CFR 200.402(a)(3), (5), (6), 7(i)(A), (C), (D), and (E), (9)(ii), and (10) permit consideration of the scheduled matters at the closed meeting. Commissioner Atkins, as duty officer, voted to consider the items listed for the closed meeting in closed session. The subject matters of the closed meeting scheduled for Thursday, September 7, 2006 will be: Formal orders of investigation; Institution and settlement of injunctive actions; Institution and settlement of administrative proceedings of an enforcement nature; Litigation matters; and Consideration of amicus participation. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551–5400. Dated: August 30, 2006. Nancy M. Morris, Secretary. [FR Doc. 06–7442 Filed 8–31–06; 8:45 am] sroberts on PROD1PC70 with NOTICES BILLING CODE 8010–01–M VerDate Aug<31>2005 17:24 Sep 01, 2006 Jkt 208001 Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Order Approving a Proposed Rule Change Regarding Market-Maker Appointments August 28, 2006. On July 11, 2006, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change to amend CBOE Rule 8.3 to provide that in the event a Market-Maker is a nominee of a member organization or has registered the Market-Maker’s membership for a member organization, the member organization with which the Market-Maker is associated would be permitted to request that the Exchange deem all class appointments be made to the member organization instead of to the individual MarketMaker.3 In such a case, if an individual Market-Maker were no longer associated with a member organization, the class appointments would continue to be held by the member organization and not the individual Market-Maker. In the event a member organization did not request that the class appointments be held by the member organization, a Market-Maker’s class appointments would continue to be held in the name of the individual Market-Maker and not the member organization with which the Market-Maker is associated. The proposed rule change was published for comment in the Federal Register on July 27, 2006.4 The Commission received no comments on the proposal. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 If such a request is made by a member organization, CBOE would consider that the submission of electronic quotations and orders would be made by and on behalf of the member organization with which the individual MarketMaker is associated. However, CBOE proposes that CBOE Rule 8.3 would state that the individual Market-Maker would continue to have all of the obligations of a Market-Maker under Exchange rules in these circumstances. 4 See Securities Exchange Act Release No. 54184 (July 20, 2006), 71 FR 42690. 2 17 PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 52351 exchange 5 and, in particular, the requirements of Section 6 of the Act 6 and the rules and regulations thereunder. The Commission specifically finds that the proposed rule change is consistent with Section 6(b)(5) of the Act 7 in that it is designed to promote just and equitable principles of trade, to remove impediments and to perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest. The Commission believes that the proposal should provide more flexibility to Market-Maker organizations in structuring class appointments. It is therefore ordered, pursuant to Section 19(b)(2) of the Act,8 that the proposed rule change (SR–CBOE–2006– 66) is approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Nancy M. Morris, Secretary. [FR Doc. E6–14597 Filed 9–1–06; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54378; File No. SR– NASDAQ–2006–032] Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of Proposed Rule Change and Amendment No. 1 Thereto To Revise The Nasdaq Capital Market Listing Requirements August 28, 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 23, 2006, The NASDAQ Stock Market LLC (‘‘Nasdaq’’), 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 Nasdaq. On August 28, 2006, Nasdaq filed Amendment No. 1 to the proposed rule change.3 The EFFECTIVE DATE: 5 In approving this proposed rule change, the Commission notes that it has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 6 15 U.S.C. 78f. 7 15 U.S.C. 78f(b)(5). 8 15 U.S.C. 78s(b)(2). 9 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 In Amendment No. 1, Nasdaq makes clarifying changes to the rule text in the Nasdaq Capital E:\FR\FM\05SEN1.SGM Continued 05SEN1

Agencies

[Federal Register Volume 71, Number 171 (Tuesday, September 5, 2006)]
[Notices]
[Page 52351]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-14597]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54379; File No. SR-CBOE-2006-66]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Order Approving a Proposed Rule Change Regarding Market-
Maker Appointments

August 28, 2006.
    On July 11, 2006, the Chicago Board Options Exchange, Incorporated 
(``CBOE'' or ``Exchange'') filed with the Securities and Exchange 
Commission (``Commission''), pursuant to Section 19(b)(1) of the 
Securities Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 
thereunder,\2\ a proposed rule change to amend CBOE Rule 8.3 to provide 
that in the event a Market-Maker is a nominee of a member organization 
or has registered the Market-Maker's membership for a member 
organization, the member organization with which the Market-Maker is 
associated would be permitted to request that the Exchange deem all 
class appointments be made to the member organization instead of to the 
individual Market-Maker.\3\ In such a case, if an individual Market-
Maker were no longer associated with a member organization, the class 
appointments would continue to be held by the member organization and 
not the individual Market-Maker. In the event a member organization did 
not request that the class appointments be held by the member 
organization, a Market-Maker's class appointments would continue to be 
held in the name of the individual Market-Maker and not the member 
organization with which the Market-Maker is associated. The proposed 
rule change was published for comment in the Federal Register on July 
27, 2006.\4\ The Commission received no comments on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ If such a request is made by a member organization, CBOE 
would consider that the submission of electronic quotations and 
orders would be made by and on behalf of the member organization 
with which the individual Market-Maker is associated. However, CBOE 
proposes that CBOE Rule 8.3 would state that the individual Market-
Maker would continue to have all of the obligations of a Market-
Maker under Exchange rules in these circumstances.
    \4\ See Securities Exchange Act Release No. 54184 (July 20, 
2006), 71 FR 42690.
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    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities exchange \5\ and, in 
particular, the requirements of Section 6 of the Act \6\ and the rules 
and regulations thereunder. The Commission specifically finds that the 
proposed rule change is consistent with Section 6(b)(5) of the Act \7\ 
in that it is designed to promote just and equitable principles of 
trade, to remove impediments and to perfect the mechanism of a free and 
open market and a national market system, and, in general, to protect 
investors and the public interest. The Commission believes that the 
proposal should provide more flexibility to Market-Maker organizations 
in structuring class appointments.
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    \5\ In approving this proposed rule change, the Commission notes 
that it has considered the proposed rule's impact on efficiency, 
competition, and capital formation. 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f.
    \7\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\8\ that the proposed rule change (SR-CBOE-2006-66) is approved.
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    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-14597 Filed 9-1-06; 8:45 am]
BILLING CODE 8010-01-P
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