Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Revision of Certain Equity Transaction Fees, 65561-65562 [E6-18829]

Download as PDF Federal Register / Vol. 71, No. 216 / Wednesday, November 8, 2006 / 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–NYSE–2006–95 on the subject line. Paper Comments SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54686; File No. SR– NYSEArca–2006–68] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Revision of Certain Equity Transaction Fees • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. November 1, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.18 Nancy M. Morris, Secretary. [FR Doc. E6–18791 Filed 11–7–06; 8:45 am] Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change cprice-sewell on PRODPC62 with NOTICES 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 29, 2006, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed All submissions should refer to File with the Securities and Exchange Number SR–NYSE–2006–95. This file Commission (‘‘Commission’’) the number should be included on the subject line if e-mail is used. To help the proposed rule change as described in Items I, II, and III below, which Items Commission process and review your have been substantially prepared by comments more efficiently, please use NYSE Arca. The Exchange submitted only one method. The Commission will the proposed rule change under Section post all comments on the Commission’s 19(b)(3)(A) of the Act 3 and Rule 19b– Internet Web site (https://www.sec.gov/ 4(f)(2) thereunder,4 which renders the rules/sro.shtml). Copies of the proposal effective upon filing with the submission, all subsequent Commission. The Commission is amendments, all written statements publishing this notice to solicit with respect to the proposed rule comments on the proposed rule change change that are filed with the from interested persons. Commission, and all written I. Self-Regulatory Organization’s communications relating to the Statement of the Terms of Substance of proposed rule change between the the Proposed Rule Change Commission and any person, other than The Exchange proposes to amend the those that may be withheld from the section of its Schedule of Fees and public in accordance with the Charges for Exchange Services (the ‘‘Fee provisions of 5 U.S.C. 552, will be Schedule’’) that applies to ETP Holders 5 available for inspection and copying in executing certain round-lot transactions the Commission’s Public Reference Room. Copies of such filing also will be in NYSE-listed (Tape A) equity securities (other than Exchange Traded available for inspection and copying at Fund (‘‘ETF’’) securities) on the NYSE’s Office of the Secretary. Exchange. While changes to the Fee All comments received will be posted Schedule pursuant to this proposal are without change; the Commission does effective upon filing, the new rates not edit personal identifying became operative on October 1, 2006. information from submissions. You The text of the proposed rule change is should submit only information that available on the Exchange’s Web site at you wish to make available publicly. All https://www.nysearca.com, at the Exchange’s Office of the Secretary and submissions should refer to File Number SR–NYSE–2006–95 and should at the Commission’s Public Reference be submitted on or before November 29, Room. 2006. II. Self-Regulatory Organization’s BILLING CODE 8011–01–P In its filing with the Commission, NYSE Arca included statements concerning the purpose of and basis for the proposed rule change and discussed 1 15 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)(2). 5 See NYSE Arca Equities Rule 1.1(n). 2 17 18 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 15:11 Nov 07, 2006 Jkt 211001 PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 65561 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 section of its Fee Schedule that applies to ETP Holders executing certain roundlot transactions in NYSE-listed (Tape A) equity securities (other than ETF securities) on the Exchange. The Fee Schedule currently provides that no transaction fee will be charged to ETP Holders for round-lot orders in NYSE-listed equity securities (other than ETF securities) that are executed in the NYSE Arca Book against inbound orders. The Exchange proposes to amend the Fee Schedule to provide that ETP Holders will be entitled to a $0.002 per share credit for such orders. The Exchange proposes to offer this credit in order to compete more effectively with other exchanges that are offering liquidity rebates in NYSE-listed equity securities. The Exchange’s Fee Schedule currently provides that a transaction fee of $0.001 per share will be charged to ETP Holders for round-lot orders in NYSE-listed equity securities (other than ETFs) that take liquidity from the NYSE Arca Book. The Exchange proposes to amend the Fee Schedule to provide that ETP Holders will be charged $0.003 per share for such orders, including orders received through the Intermarket Trading System (‘‘ITS’’).6 In addition, the Exchange proposes to amend footnote 1 to the Fee Schedule to note that such fees will apply to orders received through ITS. The Exchange proposes to increase this fee in order to offset the proposed credit for round-lot orders in NYSE-listed equity securities (other than ETF securities) that are executed in the NYSE Arca Book against inbound orders, as described above. 6 Since October 1, 2006, the effective date of the ‘‘Plan for the Purpose of Creating and Operating an Intermarket Communications Linkage Pursuant to Section 11A(a)(3)(B) of the Securities Exchange Act of 1934’’ (‘‘Linkage Plan’’), connectivity between markets is provided pursuant to the Linkage Plan. The current ITS technology is used to effectuate both the ITS Plan and Linkage Plan. Therefore, the term ‘‘ITS’’ applies to the technology used to effectuate both the ITS Plan and the Linkage Plan. E:\FR\FM\08NON1.SGM 08NON1 65562 Federal Register / Vol. 71, No. 216 / Wednesday, November 8, 2006 / Notices The Exchange will continue to charge $0.001 per share for round-lot orders in NYSE-listed equity securities (other than ETF securities) routed outside the NYSE Arca Book. 2. Statutory Basis The Exchange believes that its proposed rule change is consistent with Section 6(b) of the Act,7 in general, and furthers the objectives of Section 6(b)(4) of the Act,8 in particular, regarding the equitable allocation of reasonable dues, fees, and other charges among exchange members and other persons using exchange facilities. 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 pursuant to Section 19(b)(3)(A)(ii) of the Act 9 and subparagraph (f)(2) of Rule 19b–4 thereunder,10 because it establishes or changes a due, fee, or other charge imposed by NYSE Arca. 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. cprice-sewell on PRODPC62 with NOTICES 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: U.S.C. 78f(b). U.S.C. 78f(b)(4). 9 15 U.S.C. 78s(b)(3)(a)(ii). 10 17 CFR 240.19b–4(f)(2). Electronic Comments SMALL BUSINESS ADMINISTRATION • 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–NYSEArca–2006–68 on the subject line. Data Collection Available for Public Comments and Recommendations SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this notice announces the Small Business Paper Comments Administration’s intentions to request approval on a new and/or currently • Send paper comments in triplicate approved information collection. to Nancy M. Morris, Secretary, Securities and Exchange Commission, DATES: Submit comments on or before January 8, 2007. Station Place, 100 F Street, NE., Washington, DC 20549–1090. ADDRESSES: Send all comments regarding whether this information All submissions should refer to File collection is necessary for the proper Number SR–NYSEArca–2006–68. This performance of the function of the file number should be included on the agency, whether the burden estimates subject line if e-mail is used. To help the are accurate, and if there are ways to Commission process and review your minimize the estimated burden and comments more efficiently, please use enhance the quality of the collection, to only one method. The Commission will Carol Fendler, System Accountant, post all comments on the Commission’s Office of Investment, Small Business Internet Web site (https://www.sec.gov/ Administration, 409 3rd Street, SW., 8th rules/sro.shtml). Copies of the Floor, Washington, DC 20416. submission, all subsequent FOR FURTHER INFORMATION CONTACT: amendments, all written statements Carol Fendler, System Accountant, with respect to the proposed rule Office of Investment 202–205–7559 change that are filed with the carol.fendler@sba.gov Curtis B. Rich, Commission, and all written Management Analyst, 202–205–7030 communications relating to the curtis.rich@sba.gov. proposed rule change between the SUPPLEMENTARY INFORMATION: Commission and any person, other than Title: ‘‘SBIC Management Assessment those that may be withheld from the Questionnaire & License Application; public in accordance with the Exhibits to SBIC License Application/ provisions of 5 U.S.C. 552, will be Management Assessment available for inspection and copying in Questionnaire’’. the Commission’s Public Reference Description of Respondents: Small Room. Copies of such filing also will be business investment companies. available for inspection and copying at Form No’s: 2181, 2182, 2183. the principal offices of the Exchange. Annual Responses: 680. All comments received will be posted Annual Burden: 10,880. without change; the Commission does Jacqueline White, not edit personal identifying Chief, Administrative Information Branch. information from submissions. You [FR Doc. E6–18920 Filed 11–7–06; 8:45 am] should submit only information that you wish to make available publicly. All BILLING CODE 8025–01–P submissions should refer to File Number SR–NYSEArca–2006–68 and DEPARTMENT OF STATE should be submitted on or before November 29, 2006. [Public Notice 5612] For the Commission, by the Division of Market Regulation, pursuant to delegated authority.11 Nancy M. Morris, Secretary. [FR Doc. E6–18829 Filed 11–7–06; 8:45 am] 60-Day Notice of Proposed Information Collection: DS 3072, Emergency Loan Application and Evacuation Documentation, OMB Control Number 1405–0150 BILLING CODE 8011–01–P ACTION: Notice of request for public comments. 7 15 8 15 VerDate Aug<31>2005 15:11 Nov 07, 2006 11 17 Jkt 211001 Notice and request for comments. ACTION: PO 00000 CFR 200.30–3(a)(12). Frm 00112 Fmt 4703 Sfmt 4703 SUMMARY: The Department of State is seeking Office of Management and Budget (OMB) approval for the information collection described below. E:\FR\FM\08NON1.SGM 08NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 71, Number 216 (Wednesday, November 8, 2006)]
[Notices]
[Pages 65561-65562]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-18829]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54686; File No. SR-NYSEArca-2006-68]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Relating to the 
Revision of Certain Equity Transaction Fees

 November 1, 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 29, 2006, NYSE Arca, Inc. (``NYSE Arca'' 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 substantially prepared by NYSE Arca. The Exchange 
submitted the proposed rule change under Section 19(b)(3)(A) 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 persons.
---------------------------------------------------------------------------

    \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)(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 the section of its Schedule of Fees 
and Charges for Exchange Services (the ``Fee Schedule'') that applies 
to ETP Holders \5\ executing certain round-lot transactions in NYSE-
listed (Tape A) equity securities (other than Exchange Traded Fund 
(``ETF'') securities) on the Exchange. While changes to the Fee 
Schedule pursuant to this proposal are effective upon filing, the new 
rates became operative on October 1, 2006. The text of the proposed 
rule change is available on the Exchange's Web site at https://
www.nysearca.com, at the Exchange's Office of the Secretary and at the 
Commission's Public Reference Room.
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    \5\ See NYSE Arca Equities Rule 1.1(n).
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II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, NYSE Arca 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 section of its Fee Schedule that 
applies to ETP Holders executing certain round-lot transactions in 
NYSE-listed (Tape A) equity securities (other than ETF securities) on 
the Exchange.
    The Fee Schedule currently provides that no transaction fee will be 
charged to ETP Holders for round-lot orders in NYSE-listed equity 
securities (other than ETF securities) that are executed in the NYSE 
Arca Book against inbound orders. The Exchange proposes to amend the 
Fee Schedule to provide that ETP Holders will be entitled to a $0.002 
per share credit for such orders. The Exchange proposes to offer this 
credit in order to compete more effectively with other exchanges that 
are offering liquidity rebates in NYSE-listed equity securities.
    The Exchange's Fee Schedule currently provides that a transaction 
fee of $0.001 per share will be charged to ETP Holders for round-lot 
orders in NYSE-listed equity securities (other than ETFs) that take 
liquidity from the NYSE Arca Book. The Exchange proposes to amend the 
Fee Schedule to provide that ETP Holders will be charged $0.003 per 
share for such orders, including orders received through the 
Intermarket Trading System (``ITS'').\6\ In addition, the Exchange 
proposes to amend footnote 1 to the Fee Schedule to note that such fees 
will apply to orders received through ITS. The Exchange proposes to 
increase this fee in order to offset the proposed credit for round-lot 
orders in NYSE-listed equity securities (other than ETF securities) 
that are executed in the NYSE Arca Book against inbound orders, as 
described above.
---------------------------------------------------------------------------

    \6\ Since October 1, 2006, the effective date of the ``Plan for 
the Purpose of Creating and Operating an Intermarket Communications 
Linkage Pursuant to Section 11A(a)(3)(B) of the Securities Exchange 
Act of 1934'' (``Linkage Plan''), connectivity between markets is 
provided pursuant to the Linkage Plan. The current ITS technology is 
used to effectuate both the ITS Plan and Linkage Plan. Therefore, 
the term ``ITS'' applies to the technology used to effectuate both 
the ITS Plan and the Linkage Plan.

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[[Page 65562]]

    The Exchange will continue to charge $0.001 per share for round-lot 
orders in NYSE-listed equity securities (other than ETF securities) 
routed outside the NYSE Arca Book.
2. Statutory Basis
    The Exchange believes that its proposed rule change is consistent 
with Section 6(b) of the Act,\7\ in general, and furthers the 
objectives of Section 6(b)(4) of the Act,\8\ in particular, regarding 
the equitable allocation of reasonable dues, fees, and other charges 
among exchange members and other persons using exchange facilities.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b).
    \8\ 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 pursuant to Section 
19(b)(3)(A)(ii) of the Act \9\ and subparagraph (f)(2) of Rule 19b-4 
thereunder,\10\ because it establishes or changes a due, fee, or other 
charge imposed by NYSE Arca. 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.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78s(b)(3)(a)(ii).
    \10\ 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-NYSEArca-2006-68 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2006-68. 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 Room. Copies of such 
filing also will be available for inspection and copying at the 
principal offices of the Exchange. 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-NYSEArca-2006-68 and should be submitted on or before 
November 29, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\11\
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    \11\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-18829 Filed 11-7-06; 8:45 am]
BILLING CODE 8011-01-P

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