Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Exchange Fees and Charges, 62495-62496 [E6-17833]

Download as PDF Federal Register / Vol. 71, No. 206 / Wednesday, October 25, 2006 / Notices 62495 be submitted on or before November 15, 2006. the proposed rule change, as amended, on an accelerated basis.20 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. mstockstill on PROD1PC61 with NOTICES necessary or appropriate in furtherance of the purposes of the Act. IV. Commission Findings and Order Granting Accelerated Approval of Proposed Rule Change V. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,21 that the proposed rule change, as amended (SR– Amex–2006–95), is approved on an accelerated basis. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder III. Solicitation of Comments applicable to a national securities exchange, and in particular, with the Interested persons are invited to submit written data, views, and requirements of Section 6(b)(5) of the arguments concerning the foregoing, Act.16 In particular, the Commission including whether the proposed rule finds that the Amex’s proposal is change is consistent with the Act. designed to promote just and equitable Comments may be submitted by any of principles of trade, to remove the following methods: impediments to and perfect the mechanism of a free and open market Electronic Comments and a national market system, and, in • Use the Commission’s Internet general, to protect investors and the comment form (http://www.sec.gov/ public interest. rules/sro.shtml); or The Exchange has requested that the • Send an e-mail to ruleCommission approve the proposal on an comments@sec.gov. Please include File accelerated basis. The Commission finds Number SR–Amex–2006–95 on the good cause, pursuant to Section 19(b)(2) subject line. of the Act,17 for approving the proposed Paper Comments rule change, as amended, prior to the • Send paper comments in triplicate thirtieth day after the date of to Nancy M. Morris, Secretary, publication of notice in the Federal Securities and Exchange Commission, Register. The Commission notes that the 100 F Street, NE., Washington, DC proposal is consistent with the listing 20549–1090. and trading standards in Amex Rule All submissions should refer to File 1000A et seq. (Index Fund Shares). Number SR–Amex–2006–95. This file Furthermore, in the Original Approval number should be included on the Order, the Commission approved a subject line if e-mail is used. To help the similar product based on a substantially Commission process and review your similar index covering the same general comments more efficiently, please use market. The Commission has also only one method. The Commission will previously approved the listing and post all comments on the Commission’s trading on the Amex of an exchangeInternet Web site (http://www.sec.gov/ traded fund based on the Emerging rules/sro.shtml). Copies of the Markets Index.18 The Exchange submission, all subsequent represents that the Fund’s investment amendments, all written statements objectives, policies and methodology, with respect to the proposed rule MSCI’s index maintenance procedures change that are filed with the and standards, and the dissemination of Commission, and all written index and other information as communications relating to the described in the Original Approval proposed rule change between the Commission and any person, other than Order will not be affected by the index substitution. The Exchange also those that may be withheld from the represents that its representations in the public in accordance with the Original Approval Order with regard to provisions of 5 U.S.C. 552, will be the adequacy of its surveillance available for inspection and copying in procedures and trading rules applicable the Commission’s Public Reference Room. Copies of such filing also will be to this product continue to be in effect. Accordingly, the Commission finds that available for inspection and copying at the principal office of the Exchange. All there is good cause, consistent with Section 6(b)(5) of the Act,19 to approve comments received will be posted without change; the Commission does 16 15 U.S.C. 78f(b)(5). In approving the proposed not edit personal identifying rule change, the Commission has considered the information from submissions. You proposed rule’s impact on efficiency, competition, should submit only information that and capital formation. 15 U.S.C. 78c(f). you wish to make available publicly. All 17 15 U.S.C. 78s(b)(2). 18 See supra, note 12. submissions should refer to File 19 15 U.S.C. 78s(b)(5). Number SR-Amex-2006–95 and should VerDate Aug<31>2005 15:12 Oct 24, 2006 Jkt 211001 PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Market Regulation, pursuant to delegated authority.22 Nancy M. Morris, Secretary. [FR Doc. E6–17845 Filed 10–24–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54621; File No. SR–BSE– 2006–43] Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Exchange Fees and Charges 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 6, 2006, the Boston Stock Exchange, Inc. (‘‘BSE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Exchange. The proposed rule change has been filed by the Exchange as establishing or changing a due, fee, or other charge 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 from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes a change to the Minimum Activity Charge (‘‘MAC’’) contained in the Fee Schedule for the Boston Options Exchange (‘‘BOX’’). The Exchange proposes to review the MAC 20 The Commission’s approval of the Exchange’s listing and trading of the ETF Shares based on the Emerging Markets Index is not retroactive in effect. 21 15 U.S.C. 78s(b)(2). 22 17 CFR 200.30–3(a)(12). 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). E:\FR\FM\25OCN1.SGM 25OCN1 62496 Federal Register / Vol. 71, No. 206 / Wednesday, October 25, 2006 / Notices across all classes rather than only those assigned to the Market Maker. The text of the proposed rule change is available on the Exchange’s Web site (http:// www.bse.com), at the Exchange’s Office of the Secretary and at the Commission. 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 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 The Exchange proposes to amend the MAC which is contained in the Fee Schedule for BOX. Currently, in order to determine if a Market Maker has reached its MAC, volume in their assigned classes is charged a flat fee, which is then compared to the MAC. In addition, any activity outside a Market Maker’s appointments is charged a flat fee separately. Since trading in classes outside of a Market Maker’s appointment consumes a similar amount of technological resources as those in a Market Maker’s assigned volume, the Exchange proposes to have this unassigned activity included in the volume accumulation that is used to determine if a Market Marker has reached its MAC. This proposed rule change would aid BOX in its continuing effort to reduce total fees incurred by Participants. mstockstill on PROD1PC61 with NOTICES 2. Statutory Basis The Exchange believes that the proposal is consistent with the requirements of section 6(b) of the Act,5 in general, and section 6(b)(4) of the Act,6 in particular, in that it provides for the equitable allocation of dues, fees and other charges among its members. The Exchange believes that it is appropriate to review the MAC across all classes rather than only those assigned to the Market Maker, in the 5 15 6 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). VerDate Aug<31>2005 15:12 Oct 24, 2006 interest of fair pricing for all Participants. 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 comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change has become effective upon filing pursuant to section 19(b)(3)(A)(ii) of the Act 7 and subparagraph (f)(2) of Rule 19b–4 thereunder 8 because it changes a due, fee, or other charge imposed by the Exchange. 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 rulecomments@sec.gov. Please include File Number SR–BSE–2006–43 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 No. SR–BSE–2006–43. This file number should be included on the subject line if e-mail is used. To help the 7 15 8 17 Jkt 211001 PO 00000 U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). Frm 00081 Fmt 4703 Sfmt 4703 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 at the Commission’s Public Reference Room. Copies of such filing will also be available for inspection and copying at the principal office of the BSE. 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 the file number in the caption above and should be submitted on or before November 15, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–17833 Filed 10–24–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54437A; File No. SR–CHX– 2005–06] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Order Approving a Proposed Rule Change and Amendment No. 1 and Notice of Filing and Order Granting Accelerated Approval to Amendment No. 2 to a Proposed Rule Change Relating to Disciplinary and Delisting Procedures; Correction October 18, 2006. In FR Doc. No. E6–15588, beginning on page 55037 for Wednesday, September 20, 2006, the sentence in Part V on page 55042 contained an error. Release No. 34–54437 (the ‘‘Release’’) approved a proposed rule change filed by the Chicago Stock Exchange, Inc., in File No. SR–CHX–2005–06. Part V of the Release identified the filing being 9 17 E:\FR\FM\25OCN1.SGM CFR 200.30–3(a)(12). 25OCN1

Agencies

[Federal Register Volume 71, Number 206 (Wednesday, October 25, 2006)]
[Notices]
[Pages 62495-62496]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-17833]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54621; File No. SR-BSE-2006-43]


Self-Regulatory Organizations; Boston Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to Exchange Fees and Charges

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 6, 2006, the Boston Stock Exchange, Inc. (``BSE'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I, II, 
and III below, which Items have been prepared by the Exchange. The 
proposed rule change has been filed by the Exchange as establishing or 
changing a due, fee, or other charge 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 from 
interested persons.
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

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

    The Exchange proposes a change to the Minimum Activity Charge 
(``MAC'') contained in the Fee Schedule for the Boston Options Exchange 
(``BOX''). The Exchange proposes to review the MAC

[[Page 62496]]

across all classes rather than only those assigned to the Market Maker. 
The text of the proposed rule change is available on the Exchange's Web 
site (http://www.bse.com), at the Exchange's Office of the Secretary 
and at the Commission.

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 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
    The Exchange proposes to amend the MAC which is contained in the 
Fee Schedule for BOX. Currently, in order to determine if a Market 
Maker has reached its MAC, volume in their assigned classes is charged 
a flat fee, which is then compared to the MAC. In addition, any 
activity outside a Market Maker's appointments is charged a flat fee 
separately. Since trading in classes outside of a Market Maker's 
appointment consumes a similar amount of technological resources as 
those in a Market Maker's assigned volume, the Exchange proposes to 
have this unassigned activity included in the volume accumulation that 
is used to determine if a Market Marker has reached its MAC. This 
proposed rule change would aid BOX in its continuing effort to reduce 
total fees incurred by Participants.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with the 
requirements of section 6(b) of the Act,\5\ in general, and section 
6(b)(4) of the Act,\6\ in particular, in that it provides for the 
equitable allocation of dues, fees and other charges among its members. 
The Exchange believes that it is appropriate to review the MAC across 
all classes rather than only those assigned to the Market Maker, in the 
interest of fair pricing for all Participants.
---------------------------------------------------------------------------

    \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 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 comments on the 
proposed rule change.

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

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

    \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 http://
www.sec.gov/rules.sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-BSE-2006-43 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 No. SR-BSE-2006-43. 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 at the Commission's Public Reference Room. Copies of such 
filing will also be available for inspection and copying at the 
principal office of the BSE. 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 
the file number in the caption above and should be submitted on or 
before November 15, 2006.
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. E6-17833 Filed 10-24-06; 8:45 am]
BILLING CODE 8011-01-P