Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Exchange and Regulatory Bulletin Annual Subscription Fee, 60203-60204 [E6-16853]

Download as PDF Federal Register / Vol. 71, No. 197 / Thursday, October 12, 2006 / Notices 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 Amex. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number SR–Amex– 2006–84 and should be submitted on or before November 2, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.14 J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–16848 Filed 10–11–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54563; File No. SR–CBOE– 2006–78] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Exchange and Regulatory Bulletin Annual Subscription Fee rwilkins on PROD1PC63 with NOTICES October 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 September 22, 2006, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or ‘‘Exchange’’) 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 the Exchange. CBOE has designated this proposal as one establishing or changing a due, fee, or other charge imposed by CBOE under Section 19(b)(3)(A)(ii) of the Act 3 and Rule 19b– 4(f)(2) thereunder,4 which renders the 14 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)(ii). 4 17 CFR 240.19b–4(f)(2). 1 15 VerDate Aug<31>2005 16:21 Oct 11, 2006 Jkt 211001 proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested parties. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its Fees Schedule to amend the Exchange and Regulatory Bulletin annual subscription fee. The text of the proposed rule change is set forth below. Proposed new language is italicized; proposed deletions are in [brackets]. * * * * * CHICAGO BOARD OPTIONS EXCHANGE, INC. FEES SCHEDULE 1.–4. Unchanged. Footnotes: (1)–(16) Unchanged. 5.–14. Unchanged. 15. MISCELLANEOUS: Periodic license or royalty fees for DPMtraded products—CBOE costs passedthrough to DPM (12) Member Death Benefit (calculated @ $50,000 divided by number of members assessed) Trading Floor Printer Maintenance (Per Month) $75 Exchange Bulletin Subscription (Annual) $200 [paper]per hard copy subscription; no charge for electronic delivery Late Payment Penalty (Assessed to balances over 30 days old, per month, compounded) prime rate Market Maker Failure to Change Appointment or Failure to meet inperson Trading Requirements (allowed 1 warning letter before fee) $250 per quarter ABIL Brokerage Billing $.005 per contract, minimum $50, maximum $200 per month ORS Analysis, Floor Efficiency Project or Market Penetration Reports $100 per month Ad Hoc Information Services Requests Production Costs DPM requests for post modifications/ equipment CBOE costs passedthrough Crowd Space Dispute Resolution Hearing Fee (per hearing, per member) * $1,000 * The Crowd Space Dispute Resolution Hearing Fee is $1,000 per hearing for each party to the dispute and will escalate under certain circumstances pursuant to CBOE Rule 24.21(e). After the hearing is held and all rights of appeal are exhausted, the prevailing party in dispute shall obtain a refund of the Hearing Fee from the Exchange. PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 60203 Remainder of Fees Schedule— Unchanged. 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 CBOE 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, Proposed Rule Change 1. Purpose The Exchange states that the Exchange and Regulatory Bulletin (‘‘Bulletin’’) is a weekly publication of the Exchange that contains Exchange notices of a regulatory, administrative, operational and informational nature. Currently, the Exchange provides each member with either an e-mail or a hard copy subscription to the Bulletin free of charge. Non-members, and members who wish to receive additional hard copy subscriptions, are charged $200 annually per hard copy subscription. There is no charge for e-mail delivery of the Bulletin. In order to encourage even greater use of electronic delivery, the Exchange proposes to eliminate the complimentary hard copy subscription for members and assess a fee of $200 per year for each hard copy subscription to the Bulletin. The Exchange intends to implement the revised fee effective October 1, 2006. 2. Statutory Basis. The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act 5 in general, and furthers the objectives of Section 6(b)(4) of the Act 6 in particular, in that it is an equitable allocation of reasonable dues, fees, and other charges among Exchange members and other persons using its facilities. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange believes that the proposed rule change will not impose any burden on competition that is not 5 15 6 15 E:\FR\FM\12OCN1.SGM U.S.C. 78f(b). U.S.C. 78f(b)(4). 12OCN1 60204 Federal Register / Vol. 71, No. 197 / Thursday, October 12, 2006 / Notices necessary or appropriate in furtherance of purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act 7 and subparagraph (f)(2) of Rule 19b–4 8 thereunder, because it establishes or changes a due, fee, or other charges imposed by the Exchange. 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. 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: rwilkins on PROD1PC63 with NOTICES 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–2006–78 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–CBOE–2006–78. 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 7 15 8 17 U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). VerDate Aug<31>2005 16:21 Oct 11, 2006 Jkt 211001 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 Section, 100 F Street, NE., Washington, DC 20549. Copies of such filing also will be available for inspection and copying at the principal office of the CBOE. 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–2006–78 and should be submitted on or before November 2, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Nancy M. Morris, Secretary. [FR Doc. E6–16853 Filed 10–11–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54559; File No. SR–NYSE– 2006–63] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Rule 19 (Locking or Crossing Protected Quotations in NMS Stocks) October 2, 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 September 28, 2006, the New York Stock Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) 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 the Exchange. The NYSE has filed the proposed rule change, pursuant to Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(6) thereunder,4 which 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). renders the proposal effective upon filing with the Commission.5 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange is proposing to adopt Exchange Rule 19 in order to require its members to reasonably avoid displaying quotations that lock or cross any protected quotations in a Regulation NMS (‘‘NMS’’) stock or any quotation, protected or not in an NMS stock that is disseminated pursuant to an effective national market system plan. The text of the proposed rule change is below. Proposed new language is in italics. Rule 19. Locking or Crossing Protected Quotations in NMS Stocks. (a) Definitions. For purposes of this Rule, the following definitions shall apply: (1) The terms automated quotation, effective national market system plan, intermarket sweep order, manual quotation, NMS stock, protected quotation, regular trading hours, and trading center shall have the meanings set forth in Rule 600(b) of Regulation NMS under the Securities Exchange Act of 1934. (2) The term crossing quotation shall mean the display of a bid for an NMS stock during regular trading hours at a price that is higher than the price of an offer for such NMS stock previously disseminated pursuant to an effective national market system plan, or the display of an offer for an NMS stock during regular trading hours at a price that is lower than the price of a bid for such NMS stock previously disseminated pursuant to an effective national market system plan. (3) The term locking quotation shall mean the display of a bid for an NMS stock during regular trading hours at a price that equals the price of an offer for such NMS stock previously disseminated pursuant to an effective national market system plan, or the display of an offer for an NMS stock during regular trading hours at a price that equals the price of a bid for such NMS stock previously disseminated pursuant to an effective national market system plan. 9 17 1 15 PO 00000 Frm 00098 Fmt 4703 Sfmt 4703 5 The Exchange requested the Commission to waive the five-day pre-filing notice requirement and the 30-day operative delay, as specified in Rule 19b(f)(6)(iii). 17 CFR 240.19b–4(f)(6)(iii). E:\FR\FM\12OCN1.SGM 12OCN1

Agencies

[Federal Register Volume 71, Number 197 (Thursday, October 12, 2006)]
[Notices]
[Pages 60203-60204]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-16853]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54563; File No. SR-CBOE-2006-78]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed 
Rule Change Relating to the Exchange and Regulatory Bulletin Annual 
Subscription Fee

 October 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 September 22, 2006, the Chicago Board Options Exchange, 
Incorporated (``CBOE'' or ``Exchange'') 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 
the Exchange. CBOE has designated this proposal as one establishing or 
changing a due, fee, or other charge imposed by CBOE under Section 
19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ 
which renders the proposal effective upon filing with the Commission. 
The Commission is publishing this notice to solicit comments on the 
proposed rule change from interested parties.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend its Fees Schedule to amend the 
Exchange and Regulatory
    Bulletin annual subscription fee. The text of the proposed rule 
change is set forth below. Proposed new language is italicized; 
proposed deletions are in [brackets].
* * * * *

CHICAGO BOARD OPTIONS EXCHANGE, INC.

FEES SCHEDULE

    1.-4. Unchanged.
    Footnotes: (1)-(16) Unchanged.
    5.-14. Unchanged.
    15. MISCELLANEOUS:

Periodic license or royalty fees for DPM-traded products--CBOE costs 
passed-through to DPM (12)
Member Death Benefit (calculated @ $50,000 divided by number of members 
assessed)
Trading Floor Printer Maintenance (Per Month) $75
Exchange Bulletin Subscription (Annual) $200 [paper]per hard copy 
subscription; no charge for electronic delivery
Late Payment Penalty (Assessed to balances over 30 days old, per month, 
compounded) prime rate
Market Maker Failure to Change Appointment or Failure to meet in-person 
Trading Requirements (allowed 1 warning letter before fee) $250 per 
quarter
ABIL Brokerage Billing $.005 per contract, minimum $50, maximum $200 
per month
ORS Analysis, Floor Efficiency Project or Market Penetration Reports 
$100 per month
Ad Hoc Information Services Requests Production Costs
DPM requests for post modifications/equipment CBOE costs passed-through
Crowd Space Dispute Resolution Hearing Fee (per hearing, per member) * 
$1,000

    * The Crowd Space Dispute Resolution Hearing Fee is $1,000 per 
hearing for each party to the dispute and will escalate under 
certain circumstances pursuant to CBOE Rule 24.21(e). After the 
hearing is held and all rights of appeal are exhausted, the 
prevailing party in dispute shall obtain a refund of the Hearing Fee 
from the Exchange.

    Remainder of Fees Schedule--Unchanged.

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 CBOE 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, Proposed Rule Change

1. Purpose
    The Exchange states that the Exchange and Regulatory Bulletin 
(``Bulletin'') is a weekly publication of the Exchange that contains 
Exchange notices of a regulatory, administrative, operational and 
informational nature. Currently, the Exchange provides each member with 
either an e-mail or a hard copy subscription to the Bulletin free of 
charge. Non-members, and members who wish to receive additional hard 
copy subscriptions, are charged $200 annually per hard copy 
subscription. There is no charge for e-mail delivery of the Bulletin.
    In order to encourage even greater use of electronic delivery, the 
Exchange proposes to eliminate the complimentary hard copy subscription 
for members and assess a fee of $200 per year for each hard copy 
subscription to the Bulletin.
    The Exchange intends to implement the revised fee effective October 
1, 2006.
2. Statutory Basis.
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act \5\ in general, and furthers the 
objectives of Section 6(b)(4) of the Act \6\ in particular, in that it 
is an equitable allocation of reasonable dues, fees, and other charges 
among Exchange members and other persons using its facilities.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b).
    \6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange believes that the proposed rule change will not impose 
any burden on competition that is not

[[Page 60204]]

necessary or appropriate in furtherance of purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    The foregoing proposed rule change has become effective pursuant to 
Section 19(b)(3)(A)(ii) of the Act \7\ and subparagraph (f)(2) of Rule 
19b-4 \8\ thereunder, because it establishes or changes a due, fee, or 
other charges imposed by the Exchange. 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-CBOE-2006-78 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-CBOE-2006-78. 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 Section, 100 F Street, 
NE., Washington, DC 20549. Copies of such filing also will be available 
for inspection and copying at the principal office of the CBOE. 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-2006-78 and should be 
submitted on or before November 2, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Nancy M. Morris,
Secretary.
 [FR Doc. E6-16853 Filed 10-11-06; 8:45 am]
BILLING CODE 8011-01-P