Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Rule 13 (Definitions of Orders), 62499-62501 [E6-17832]

Download as PDF Federal Register / Vol. 71, No. 206 / Wednesday, October 25, 2006 / Notices III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) Impose any significant burden on competition; and (iii) Become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b–4(f)(6) thereunder.6 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: mstockstill on PROD1PC61 with NOTICES 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 NASD–2006–118 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 NASD–2006–118. 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 6 17 CFR 240.19b–4(f)(6). VerDate Aug<31>2005 15:12 Oct 24, 2006 Jkt 211001 62499 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 NASD. 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–NASD–2006–118 and should be submitted on or before November 15, 2006. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change seeks to make a clarifying amendment to NYSE Rule 13 (‘‘Definitions of Orders’’) as it relates to Stop Limit Orders (P3) which was part of the pilot (‘‘Pilot’’) 4 to put into operation certain rule changes pending before the Commission to coincide with the Exchange’s implementation of Phase 3 of the NYSE HYBRID MARKETSM (‘‘Hybrid Market’’).5 The text of the proposed rule is available on the NYSE’s Web site at http://www.nyse.com, at the NYSE’s Office of the Secretary, and at the Commission’s Public Reference Room. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.7 Nancy M. Morris, Secretary. [FR Doc. E6–17844 Filed 10–24–06; 8:45 am] 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 proposal. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54624; File No. SR–NYSE– 2006–87] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Rule 13 (Definitions of Orders) October 18, 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 October 16, 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 proposed rule change has been filed by the NYSE as a ‘‘non-controversial’’ rule change under Rule 19b–4(f)(6) under the Act,3 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. 7 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 17 CFR 240.19b–4(f)(6). 1 15 PO 00000 Frm 00084 Fmt 4703 Sfmt 4703 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose On October 5, 2006, the Exchange proposed a Pilot to, among other things, make operative certain proposed modifications to Exchange Rules that are the subject of pending rule filings 6 before the Commission to coincide with the Exchange’s implementation of Phase 3 of the Hybrid Market. The Pilot commenced following Commission approval, on October 5, 2006 and is 4 See Securities Exchange Act Release No, 54578 (October 5, 2006), 71 FR 60216 (October 12, 2006) (SR–NYSE–2006–82). 5 See Securities Exchange Act Release Act Release No. 53539 (March 22, 2006), 71 FR 16353 (March 31, 2006) (SR–NYSE\2004–05). 6 See Securities Exchange Act Release Nos. 54504 (September 26, 2006), 71 FR 57011 (NYSE–2006– 76) (Notice) (proposing to amend the specialist stabilization requirements set forth in Exchange Rule 104.10) (‘‘Stabilization Filing’’); 54520 (September 27, 2006), 71 FR 57590 (September 29, 2006) (NYSE–2006–65) (Notice) (proposing to amend several Exchange Rules to clarify certain definitions and systemic processes) (‘‘Omnibus Filing’’); and SR–NYSE–2006–73 (filed on September 13, 2006) (proposing to amend Exchange Rule 127 which governs the execution of a block cross transaction at a price outside the prevailing NYSE quotation) (‘‘Block Cross Filing’’). E:\FR\FM\25OCN1.SGM 25OCN1 62500 Federal Register / Vol. 71, No. 206 / Wednesday, October 25, 2006 / Notices scheduled to terminate on the close of business October 31, 2006.7 Pursuant to the Pilot, the Exchange proposed the elimination of Stop Limit orders as an acceptable order type on the Exchange in securities that are subject to the Pilot. The Exchange seeks to clarify that the elimination of Stop Limit orders during the Pilot relates to all securities on the Exchange. Accordingly, the Exchange seeks to amend NYSE Rule 13(P3) Stop Limit Orders to state that Stop Limit orders are not a valid order type for all securities traded on the Exchange commencing October 16, 2006 and continuing during the Hybrid Phase 3 Pilot. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,8 in general, and furthers the objectives of Section 6(b)(5) of the Act,9 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. The proposed rule change also is designed to support the principles of Section 11A(a)(1),10 in that it seeks to assure economically efficient execution of securities transactions. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change 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 The Exchange has neither solicited nor received written comments on the proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. mstockstill on PROD1PC61 with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change has been filed by the Exchange as a ‘‘noncontroversial’’ rule change pursuant to Section 19(b)(3)(A) of the Act 11 and supra note 4. U.S.C. 78f(b). 9 15 U.S.C. 78f(b)(5). 10 15 U.S.C. 78k–1(a)(1). 11 15 U.S.C. 78s(b)(3)(A). 8 15 15:12 Oct 24, 2006 12 17 CFR 240.19b–4(f)(6). U.S.C. 78s(b)(3)(A). 14 17 CFR 240.19b–4(f)(6). 15 For the purposes only of accelerating the operative day of this proposal, the Commission has considered the proposed rules impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 13 15 7 See VerDate Aug<31>2005 Rule 19b–4(f)(6), thereunder.12 Because the forgoing proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; (iii) become operative for 30 days after the date of its filing, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, provided that the Exchange has given the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, as least five business days prior to the date of filing of the proposed rule change, or shorter time as the Commission may designate, it has become effective pursuant to Section 19(b)(3)(A) of the Act 13 and Rule 19b–4(f)(6), thereunder.14 The Exchange requests that the Commission waive the five-day prefiling notice requirement and the 30-day delayed operative date of Rule 19b– 4(f)(6)(iii). Under Rule 19b–4(f)(6)(iii), a proposed ‘‘non-controversial’’ rule change does not become operative for 30 days after the date of filing, unless the Commission designates a shorter time. The Commission believes that the waiving the 30-day operative delay is consistent with the protection of investors and the public interest.15 The Exchange has decided to eliminate the Stop Limit order type because it is no longer used. The Exchange represented that it had notified members that this order type would no longer be accepted as of October 16, 2006 to coincide with other changes that are being implemented in the Pilot. To minimize confusion as to acceptable order types, the Exchange has proposed to eliminate stop limit orders in all securities, not just securities eligible for the Pilot. Accordingly, the Commission believes it is consistent with the protection of investors and the public interest to implement this change immediately. The Commission designates the proposed rule change to be effective and operative upon its filing with the Commission. The Commission also waives the five-business day pre-filing requirements. As 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 Jkt 211001 PO 00000 Frm 00085 Fmt 4703 Sfmt 4703 necessary or appropriate in the public interest. 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 e-mail to rulecomments@sec.gov. Please include File Number SR–NYSE–2006–87 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy N. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–NYSE–2006–87. 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 such filing will also be available for inspection and copying at the principal office of the NYSE. 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–NYSE–2006–87 and should be submitted on or before November 15, 2006. E:\FR\FM\25OCN1.SGM 25OCN1 Federal Register / Vol. 71, No. 206 / Wednesday, October 25, 2006 / Notices For the Commission, by the Division of Market Regulation, pursuant to delegated authority.16 J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–17832 Filed 10–24–06; 8:45 am] BILLING CODE 8011–01–P DEPARTMENT OF STATE Bureau of Economic and Business Affairs [Public Notice 5587] List of September 20, 2006, of Participating Countries and Entities (Hereinafter Known as ‘‘Participants’’) under the Clean Diamond Trade Act of 2003 (Pub. L. 108–19) and Section 2 of Executive Order 13312 of July 29, 2003 Department of State. Notice. AGENCY: mstockstill on PROD1PC61 with NOTICES ACTION: SUMMARY: In accordance with sections 3 and 6 of the Clean Diamond Trade Act of 2003 (Pub. L. 108–19) and Section 2 of Executive Order 13312 of July 29, 2003, the Department of State is identifying all the Participants eligible for trade in rough diamonds under the Act, and their respective Importing and Exporting Authorities, and revising the previously published list of October 26, 2005 (Volume 70, Number 206) 61875– 6 to include New Zealand. FOR FURTHER INFORMATION CONTACT: Sue Saarnio, Special Advisor for Conflict Diamonds, Bureau of Economic and Business Affairs, Department of State, (202) 647–1713. SUPPLEMENTARY INFORMATION: Section 4 of the Clean Diamond Trade Act (the ‘‘Act’’) requires the President to prohibit the importation into, or the exportation from, the United States of any rough diamond, from whatever source, that has not been controlled through the Kimberley Process Certification Scheme (KPCS). Under section 3(2) of the Act, ‘‘controlled through the Kimberley Process Certification Scheme’’ means an importation from the territory of a Participant or exportation to the territory of a Participant of rough diamonds that is either (i) carried out in accordance with the KPCS, as set forth in regulations promulgated by the President, or (ii) controlled under a system determined by the President to meet substantially the standards, practices, and procedures of the KPCS. The referenced regulations are contained at 31 CFR part 592 (‘‘Rough 16 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 15:12 Oct 24, 2006 Jkt 211001 Diamonds Control Regulations’’) (69 FR 56936, September 23, 2004). Section 6(b) of the Act requires the President to publish in the Federal Register a list of all Participants, and all Importing and Exporting Authorities of Participants, and to update the list as necessary. Section 2 of Executive Order 13312 of July 29, 2003 delegates this function to the Secretary of State. Section 3(7) of the Act defines ‘‘Participant’’ as a state, customs territory, or regional economic integration organization identified by the Secretary of State. Section 3(3) of the Act defines ‘‘Exporting Authority’’ as one or more entities designated by a Participant from whose territory a shipment of rough diamonds is being exported as having the authority to validate a Kimberley Process Certificate. Section 3(4) of the Act defines ‘‘Importing Authority’’ as one or more entities designated by a Participant into whose territory a shipment of rough diamonds is imported as having the authority to enforce the laws and regulations of the Participant regarding imports, including the verification of the Kimberley Process Certificate accompanying the shipment. List of Participants Pursuant to section 3 of the Clean Diamond Trade Act (the Act), Section 2 of Executive Order 13312 of July 29, 2003, and Delegation of Authority No. 294 (July 6, 2006), I hereby identify the following entities as of September 20, 2006, as Participants under section 6(b) of the Act. Included in this List are the Importing and Exporting Authorities for Participants, as required by section 6(b) of the Act. This list revises the previously published list of October 26, 2005 (Volume 70, Number 206) 61875– 6. Angola—Ministry of Geology and Mines. Armenia—Ministry of Trade and Economic Development. Australia—Exporting Authority—Department of Industry, Tourism and Resources; Importing Authority—Australian Customs Service. Belarus—Department of Finance. Botswana—Ministry of Minerals, Energy and Water Resources. Brazil—Ministry of Mines and Energy. Bulgaria—Ministry of Finance. Canada—Natural Resources Canada. Central African Republic—Ministry of Energy and Mining. China—General Administration of Quality Supervision, Inspection and Quarantine. Democratic Republic of the Congo—Ministry of Mines Croatia—Ministry of Economy. European Community—DG/External Relations/A.2. Ghana—Precious Minerals and Marketing Company Ltd. Guinea—Ministry of Mines and Geology. Guyana—Geology and Mines Commission. India—The Gem and Jewellery Export Promotion Council. Indonesia—Directorate General of Foreign Trade of the Ministry of Trade. PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 62501 Israel—The Diamond Controller. Ivory Coast—Ministry of Mines and Energy. Japan—Ministry of Economy, Trade and Industry. Republic of Korea—Ministry of Commerce, Industry and Energy. Laos—Ministry of Finance. Lebanon—Ministry of Economy and Trade Lesotho—Commissioner of Mines and Geology. Malaysia—Ministry of International Trade and Industry. Mauritius—Ministry of Commerce. Namibia—Ministry of Mines and Energy. New Zealand—Ministry of Foreign Affairs and Trade. Norway—The Norwegian Goldsmiths’ Association. Romania—National Authority for Consumer Protection. Russia—Gokhran, Ministry of Finance. Sierra Leone—Government Gold and Diamond Office. Singapore—Singapore Customs. South Africa—South African Diamond Board. Sri Lanka—National Gem and Jewellery Authority. Switzerland—State Secretariat for Economic Affairs. Taiwan—Bureau of Foreign Trade. Tanzania—Commissioner for Minerals. Thailand—Ministry of Commerce. Togo—Ministry of Mines and Geology. Ukraine—State Gemological Centre of Ukraine. United Arab Emirates—Dubai Metals and Commodities Center. United States of America—Importing Authority—UnitedStates Bureau of Customs and Border Protection; Exporting Authority—Bureau of the Census. Venezuela—Ministry of Energy and Mines. Vietnam—Ministry of Trade. Zimbabwe—Ministry of Mines and Mining Development. This notice shall be published in the Federal Register. R. Nicholas Burns, Under Secretary for Political Affairs, Department of State. [FR Doc. E6–17894 Filed 10–24–06; 8:45 am] BILLING CODE 4710–07–P DEPARTMENT OF TRANSPORTATION Office of the Secretary [Docket OST–2006–23898] Application of Pacific Airways, Inc. for Certificate Authority Department of Transportation. Notice of Order to Show Cause (Order 2006–10–10). AGENCY: ACTION: SUMMARY: The Department of Transportation is directing all interested persons to show cause why it should not issue an order finding Pacific Airways, Inc., fit, willing, and able, and E:\FR\FM\25OCN1.SGM 25OCN1

Agencies

[Federal Register Volume 71, Number 206 (Wednesday, October 25, 2006)]
[Notices]
[Pages 62499-62501]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-17832]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54624; File No. SR-NYSE-2006-87]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of a Proposed Rule Change 
Relating to Rule 13 (Definitions of Orders)

October 18, 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 October 16, 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 proposed 
rule change has been filed by the NYSE as a ``non-controversial'' rule 
change under Rule 19b-4(f)(6) under the Act,\3\ which renders the 
proposal effective upon filing with the Commission. The Commission is 
publishing this notice to solicit comments on the proposed rule change 
from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The proposed rule change seeks to make a clarifying amendment to 
NYSE Rule 13 (``Definitions of Orders'') as it relates to Stop Limit 
Orders (P3) which was part of the pilot (``Pilot'') \4\ to put into 
operation certain rule changes pending before the Commission to 
coincide with the Exchange's implementation of Phase 3 of the NYSE 
HYBRID MARKETSM (``Hybrid Market'').\5\
---------------------------------------------------------------------------

    \4\ See Securities Exchange Act Release No, 54578 (October 5, 
2006), 71 FR 60216 (October 12, 2006) (SR-NYSE-2006-82).
    \5\ See Securities Exchange Act Release Act Release No. 53539 
(March 22, 2006), 71 FR 16353 (March 31, 2006) (SR-NYSE\2004-05).
---------------------------------------------------------------------------

    The text of the proposed rule is available on the NYSE's Web site 
at http://www.nyse.com, at the NYSE'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

    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 proposal. The text of these 
statements may be examined at the places specified in Item IV below. 
The Exchange has prepared summaries, set forth in Sections A, B, and C 
below, of the most significant aspects of such statements.

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

1. Purpose
    On October 5, 2006, the Exchange proposed a Pilot to, among other 
things, make operative certain proposed modifications to Exchange Rules 
that are the subject of pending rule filings \6\ before the Commission 
to coincide with the Exchange's implementation of Phase 3 of the Hybrid 
Market. The Pilot commenced following Commission approval, on October 
5, 2006 and is

[[Page 62500]]

scheduled to terminate on the close of business October 31, 2006.\7\
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release Nos. 54504 (September 
26, 2006), 71 FR 57011 (NYSE-2006-76) (Notice) (proposing to amend 
the specialist stabilization requirements set forth in Exchange Rule 
104.10) (``Stabilization Filing''); 54520 (September 27, 2006), 71 
FR 57590 (September 29, 2006) (NYSE-2006-65) (Notice) (proposing to 
amend several Exchange Rules to clarify certain definitions and 
systemic processes) (``Omnibus Filing''); and SR-NYSE-2006-73 (filed 
on September 13, 2006) (proposing to amend Exchange Rule 127 which 
governs the execution of a block cross transaction at a price 
outside the prevailing NYSE quotation) (``Block Cross Filing'').
    \7\ See supra note 4.
---------------------------------------------------------------------------

    Pursuant to the Pilot, the Exchange proposed the elimination of 
Stop Limit orders as an acceptable order type on the Exchange in 
securities that are subject to the Pilot. The Exchange seeks to clarify 
that the elimination of Stop Limit orders during the Pilot relates to 
all securities on the Exchange. Accordingly, the Exchange seeks to 
amend NYSE Rule 13(P3) Stop Limit Orders to state that Stop Limit 
orders are not a valid order type for all securities traded on the 
Exchange commencing October 16, 2006 and continuing during the Hybrid 
Phase 3 Pilot.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\8\ in general, and furthers the 
objectives of Section 6(b)(5) of the Act,\9\ 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. The proposed rule change also is 
designed to support the principles of Section 11A(a)(1),\10\ in that it 
seeks to assure economically efficient execution of securities 
transactions.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
    \10\ 15 U.S.C. 78k-1(a)(1).
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change 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

    The Exchange has neither solicited nor received written comments on 
the proposed rule change. The Exchange has not received any unsolicited 
written comments from members or other interested parties.

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

    The proposed rule change has been filed by the Exchange as a ``non-
controversial'' rule change pursuant to Section 19(b)(3)(A) of the Act 
\11\ and Rule 19b-4(f)(6), thereunder.\12\ Because the forgoing 
proposed rule change does not: (i) Significantly affect the protection 
of investors or the public interest; (ii) impose any significant burden 
on competition; (iii) become operative for 30 days after the date of 
its filing, or such shorter time as the Commission may designate, if 
consistent with the protection of investors and the public interest, 
provided that the Exchange has given the Commission written notice of 
its intent to file the proposed rule change, along with a brief 
description and text of the proposed rule change, as least five 
business days prior to the date of filing of the proposed rule change, 
or shorter time as the Commission may designate, it has become 
effective pursuant to Section 19(b)(3)(A) of the Act \13\ and Rule 19b-
4(f)(6), thereunder.\14\
---------------------------------------------------------------------------

    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6).
    \13\ 15 U.S.C. 78s(b)(3)(A).
    \14\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    The Exchange requests that the Commission waive the five-day pre-
filing notice requirement and the 30-day delayed operative date of Rule 
19b-4(f)(6)(iii). Under Rule 19b-4(f)(6)(iii), a proposed ``non-
controversial'' rule change does not become operative for 30 days after 
the date of filing, unless the Commission designates a shorter time.
    The Commission believes that the waiving the 30-day operative delay 
is consistent with the protection of investors and the public 
interest.\15\ The Exchange has decided to eliminate the Stop Limit 
order type because it is no longer used. The Exchange represented that 
it had notified members that this order type would no longer be 
accepted as of October 16, 2006 to coincide with other changes that are 
being implemented in the Pilot. To minimize confusion as to acceptable 
order types, the Exchange has proposed to eliminate stop limit orders 
in all securities, not just securities eligible for the Pilot. 
Accordingly, the Commission believes it is consistent with the 
protection of investors and the public interest to implement this 
change immediately.
---------------------------------------------------------------------------

    \15\ For the purposes only of accelerating the operative day of 
this proposal, the Commission has considered the proposed rules 
impact on efficiency, competition, and capital formation. 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    The Commission designates the proposed rule change to be effective 
and operative upon its filing with the Commission. The Commission also 
waives the five-business day pre-filing requirements. As 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.

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 e-mail to rule-comments@sec.gov. Please include File 
Number SR-NYSE-2006-87 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy N. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number SR-NYSE-2006-87. 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 such 
filing will also be available for inspection and copying at the 
principal office of the NYSE. 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-NYSE-2006-87 and should be submitted on or before 
November 15, 2006.

[[Page 62501]]

    For the Commission, by the Division of Market Regulation, pursuant 
to delegated authority.\16\
---------------------------------------------------------------------------

    \16\ 17 CFR 200.30-3(a)(12).

J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-17832 Filed 10-24-06; 8:45 am]
BILLING CODE 8011-01-P