Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Extending the Time Period by Which the Exchange Will Amend the NASD-NYSE Arca Options Agreement Pursuant to Rule 17d-2, 66211-66213 [E6-19063]

Download as PDF Federal Register / Vol. 71, No. 218 / Monday, November 13, 2006 / Notices Replaced Portfolios, their advisers or underwriters (or their affiliates), including without limitation 12b–l, shareholder service, administration or other service fees, revenue sharing or other arrangements in connection with such assets. Annuity Investors represents that the Substitutions and the selection of the Replacement Portfolios were not motivated by any financial consideration paid or to be paid by the Replacement Portfolios, their advisers or underwriters, or their respective affiliates. Conclusion For the reasons and upon the facts set forth above, Applicants submit that the requested order meets the standards set forth in Section 26(c). Applicants request an order of the Commission, pursuant to Section 26(c) of the Act, approving the Substitutions. For the Commission, by the Division of Investment Management, pursuant to delegated authority. Nancy M. Morris, Secretary. [FR Doc. E6–19075 Filed 11–9–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [File No. 500–1] In the Matter of FuelNation, Inc. and Sytron, Inc.; Order of Suspension of Trading cprice-sewell on PROD1PC66 with NOTICES November 8, 2006. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of FuelNation, Inc. because it has not filed any periodic reports since it filed a Form 10–QSB for the period ended March 31, 2004. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Sytron, Inc. because it has not filed any periodic reports since it filed a Form 10–SB on February 1, 2000. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed companies. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the abovelisted companies is suspended for the period from 9:30 a.m. EST on November 8, 2006, through 11:59 p.m. EST on November 21, 2006. VerDate Aug<31>2005 15:22 Nov 09, 2006 Jkt 211001 By the Commission. Nancy M. Morris, Secretary. [FR Doc. 06–9189 Filed 11–8–06; 11:55 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54690; File No. SR– NYSEArca–2006–79] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Extending the Time Period by Which the Exchange Will Amend the NASD–NYSE Arca Options Agreement Pursuant to Rule 17d–2 November 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 October 25, 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 and II below, which Items have been prepared by the Exchange. The Exchange filed the proposal as a ‘‘non-controversial’’ rule change pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6) thereunder,4 which 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 amend its undertaking 6 to extend for 90 days from the date of this filing the time period by which the Exchange will enter into an agreement with the National Association of Securities Dealers, Inc. (‘‘NASD’’) pursuant to Rule 17d–2 under the Act 7 (the ‘‘NASD / NYSE Arca Options Agreement’’ or ‘‘Agreement’’). The Agreement would expand the allocation to NASD of 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)(6). 5 The Exchange has asked the Commission to waive the 5-day pre-filing notice requirement and the 30-day operative delay. See 15 U.S.C. 78s(b)(3)(A), 17 CFR 240.19b–4(f)(6)(iii). 6 See Securities Exchange Act Release No. 54238 (July 28, 2006), 71 FR 44758 (August 7, 2006) (SR– NYSEArca–2006–13) (OX Approval Order). 7 17 CFR 240.17d–2. 2 17 PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 66211 regulatory responsibility to encompass all the regulatory oversight and enforcement responsibilities with respect to the options activities of Archipelago Securities, L.L.C. (‘‘Archipelago Securities’’),8 except for ‘‘real-time market surveillance.’’ 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 In connection with the Commission’s approval of the Exchange’s new electronic options trading platform, OX, Archipelago Securities became a routing broker for OX options orders on the Exchange.9 In Amendment No. 3 to its filing seeking approval of the OX platform,10 the Exchange proposed to clarify that NASD, a self-regulatory organization unaffiliated with the Exchange or any of its affiliates, would continue to carry out oversight and enforcement responsibilities as the Designated Examining Authority designated by the Commission pursuant to Rule 17d–1 under the Act 11 with the 8 Archipelago Securities, a wholly-owned subsidiary of Archipelago Holdings, Inc. and a registered broker-dealer, acts as the outbound order router for the NYSE Arca Marketplace (formerly known as the Archipelago Exchange) and, as such, is regulated as an exchange ‘‘facility’’ of NYSE Arca and NYSE Arca Equities, Inc. See 15 U.S.C. 78c(a)(2). As such, any proposed rule change relating to Archipelago Securities’ order-routing function must be filed with the Commission, and must operate in a manner that is consistent with the provisions of the Act applicable to exchanges and with NYSE Arca rules. 9 See OX Approval Order, supra note 6. Pursuant to NYSE Arca Rule 6.1A(a)(15), which was adopted in connection with the establishment of the new OX trading platform, the term ‘‘OX Routing Broker’’ refers to the broker-dealer affiliate of the Exchange that acts as agent for routing orders entered into OX of OTP Holders, OTP Firms and OTP Firms’ Sponsored Participants to other Market Centers for execution whenever such routing is permitted by Exchange Rules. Archipelago Securities is the Exchange’s only OX Routing Broker. 10 See OX Approval Order, supra note 6. 11 17 CFR 240.17d–1. E:\FR\FM\13NON1.SGM 13NON1 66212 Federal Register / Vol. 71, No. 218 / Monday, November 13, 2006 / Notices cprice-sewell on PROD1PC66 with NOTICES responsibility for examining Archipelago Securities for compliance with the applicable financial responsibility rules. Furthermore, the Exchange represented that it would enter into the NASD/NYSE Arca Options Agreement pursuant to Rule 17d–2 under the Act,12 to expand the allocation to NASD of regulatory responsibility to encompass all the regulatory oversight and enforcement responsibilities with respect to the options activities of Archipelago Securities, except for ‘‘real-time market surveillance.’’ 13 The Exchange agreed to submit the NASD / NYSE Arca Options Agreement to the Commission under Rule 17d–2 within 90 days of the date of the Commission’s approval of the OX trading platform.14 The 90 day period elapsed on October 26, 2006. On October 20, 2006, the Exchange submitted to the Commission a draft NASD/NYSE Arca Options Agreement, but has not yet received Commission approval. The Exchange believes that an extension of time for an additional 90 days from the date of this filing to enter into the NASD/NYSE Arca Options Agreement will give the Commission staff sufficient time to publish and take action on the proposal. The Exchange believes that the requested extension of time is consistent with the Act and the rules and regulations thereunder, will not significantly affect the protection of investors or the public interest, and does not impose any significant burden on competition. The Exchange notes that NASD already carries out oversight and enforcement responsibilities as the Designated Examining Authority designated by the Commission pursuant to Rule 17d–1 under the Act 15 with the responsibility for examining Archipelago Securities for compliance with the applicable financial responsibility rules. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,16 in general, and furthers the objectives of Section 6(b)(5) of the Act,17 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating clearing, settling, processing 12 17 CFR 240.17d–2. OX Approval Order, supra note 6. 13 See 14 Id. 15 17 CFR 240.17d–1. 16 15 U.S.C. 78f(b). 17 15 U.S.C. 78f(b)(5). VerDate Aug<31>2005 15:22 Nov 09, 2006 Jkt 211001 information with respect to, and facilitating transactions in securities, 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. 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 Written comments on the proposed rule change were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing rule: (i) Does not significantly affect the protection of investors or the public interest; (ii) does not impose any significant burden on competition; and (iii) by its terms, does not become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest,18 the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 19 and Rule 19b– 4(f)(6) thereunder.20 The Exchange has requested that the Commission waive the 30-day operative delay, which would make the rule change effective and operative upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest. Such waiver will allow the Exchange to comply with its undertaking made in connection with the OX Approval Order to submit the NASD/NYSE Arca Options Agreement to the Commission. The Exchange requests a waiver of the 30-day period on the basis that the current deadline for entering into the 18 Pursuant to Rule 19b–4(f)(6)(iii) under the Act, the Exchange is required to give 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, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Exchange has requested that the Commission waive the 5-day pre-filing notice requirement. The Commission has determined to waive this requirement for this filing. 19 15 U.S.C. 78s(b)(3)(A). 20 17 CFR 240.19b–4(f)(6). PO 00000 Frm 00057 Fmt 4703 Sfmt 4703 NASD/NYSE Arca Options Agreement was October 26, 2006, and a delay of 30 days would place the Exchange out of compliance with its undertaking. Extending the compliance date for the Exchange’s undertaking by an additional 90 days will provide time for the Exchange to finalize and file the Agreement. For these reasons, the Commission designates the proposal to be effective and operative upon filing with the Commission.21 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: 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 NYSEArca–2006–79 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 NYSEArca–2006–79. 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 21 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). E:\FR\FM\13NON1.SGM 13NON1 Federal Register / Vol. 71, No. 218 / Monday, November 13, 2006 / Notices 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 the filing also will be available for inspection and copying at the principal office 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 NYSEArca–2006–79 and should be submitted on or before December 4, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.22 Nancy M. Morris, Secretary. [FR Doc. E6–19063 Filed 11–9–06; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration #10640 and #10641] Indiana Disaster Number IN–00008 U.S. Small Business Administration. ACTION: Amendment 1. AGENCY: This is an amendment of the Presidential declaration of a major disaster for the State of Indiana (FEMA– 1662–DR), dated 10/10/2006. Incident: Severe Storms and Flooding. Incident Period: 09/12/2006 through 09/14/2006. EFFECTIVE DATE: 11/01/2006. Physical Loan Application Deadline Date: 12/05/2006. EIDL Loan Application Deadline Date: 07/06/2007. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the Presidential disaster declaration for the State of Indiana, dated 10/10/ 2006 is hereby amended to include the following areas as adversely affected by the disaster: Primary Counties: Warrick. cprice-sewell on PROD1PC66 with NOTICES SUMMARY: 22 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 15:22 Nov 09, 2006 Jkt 211001 Contiguous Counties: Indiana: Dubois, Pike, Spencer. Kentucky: Daviess. All other information in the original declaration remains unchanged. Arkansas: Ashley, Chicot, Union. Mississippi: Warren. Texas: Newton, Sabine, Shelby. The Interest Rates are: (Catalog of Federal Domestic Assistance Numbers 59002 and 59008). Roger B. Garland, Acting Associate Administrator for Disaster Assistance. [FR Doc. E6–19053 Filed 11–9–06; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10701 and # 10702] Louisiana Disaster # LA–00007 U.S. Small Business Administration. ACTION: Notice. AGENCY: This is a Notice of the Presidential declaration of a major disaster for the State of Louisiana (FEMA–1668–DR), dated 11/02/2006. Incident: Severe Storms and Flooding. Incident Period: 10/16/2006 and continuing. Effective Date: 11/02/2006. Physical Loan Application Deadline Date: 01/02/2007. Economic Injury (EIDL) Loan Application Deadline Date: 08/02/2007. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, Processing And Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: Notice is hereby given that as a result of the President’s major disaster declaration on 11/02/2006, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: Primary Parishes (Physical Damage and Economic Injury Loans): Caldwell, Franklin, Grant, La Salle, Madison, Morehouse, Natchitoches, Richland, Sabine, Vernon, Winn. Contiguous Parishes / Counties (Economic Injury Loans Only): Louisiana: Allen, Avoyelles, Beauregard, Bienville, Catahoula, De Soto, East Carroll, Jackson, Ouachita, Rapides, Red River, Tensas Union, West Carroll. 66213 Percent For Physical Damage: Homeowners With Credit Available Elsewhere ...................... Homeowners Without Credit Available Elsewhere .............. Businesses With Credit Available Elsewhere ...................... Other (Including Non-Profit Organizations) With Credit Available Elsewhere .............. Businesses And Non-Profit Organizations Without Credit Available Elsewhere .............. For Economic Injury: Businesses & Small Agricultural Cooperatives Without Credit Available Elsewhere .............. 6.250 3.125 7.934 5.000 4.000 4.000 SUMMARY: PO 00000 Frm 00058 Fmt 4703 Sfmt 4703 The number assigned to this disaster for physical damage is 10701 6 and for economic injury is 10702 0. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Acting Associate Administrator for Disaster Assistance. [FR Doc. E6–19055 Filed 11–9–06; 8:45 am] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION National Small Business Development Center Advisory Board; Public Meeting The U.S. Small Business Administration, National Small Business Development Centers Advisory Board will be conducting a conference call to discuss such matters that may be presented by members, and the staff of the U.S. Small Business Administration. The conference call will be held on Tuesday, November 21, 2006 at 1 p.m. eastern standard time. The purpose of the meeting is to discuss internal board matters such as the status of proposed new Board members, administrative issues, the marketing of the SBDC Program, and to follow up with the ‘‘Dialogue with the State Directors’’ meeting held at the ASBDC Conference in September. Anyone wishing to make an oral presentation to the Board must contact Erika Fischer, Senior Program Analyst, U.S. Small Business Administration, Office of Small Business Development Centers, 409 3rd Street, SW., E:\FR\FM\13NON1.SGM 13NON1

Agencies

[Federal Register Volume 71, Number 218 (Monday, November 13, 2006)]
[Notices]
[Pages 66211-66213]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-19063]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54690; File No. SR-NYSEArca-2006-79]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
and Immediate Effectiveness of Proposed Rule Change Relating to 
Extending the Time Period by Which the Exchange Will Amend the NASD-
NYSE Arca Options Agreement Pursuant to Rule 17d-2

November 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 October 25, 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 and II below, which Items 
have been prepared by the Exchange. The Exchange filed the proposal as 
a ``non-controversial'' rule change pursuant to Section 19(b)(3)(A) of 
the Act \3\ and Rule 19b-4(f)(6) thereunder,\4\ which 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.
---------------------------------------------------------------------------

    \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)(6).
    \5\ The Exchange has asked the Commission to waive the 5-day 
pre-filing notice requirement and the 30-day operative delay. See 15 
U.S.C. 78s(b)(3)(A), 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------

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

    The Exchange is proposing to amend its undertaking \6\ to extend 
for 90 days from the date of this filing the time period by which the 
Exchange will enter into an agreement with the National Association of 
Securities Dealers, Inc. (``NASD'') pursuant to Rule 17d-2 under the 
Act \7\ (the ``NASD / NYSE Arca Options Agreement'' or ``Agreement''). 
The Agreement would expand the allocation to NASD of regulatory 
responsibility to encompass all the regulatory oversight and 
enforcement responsibilities with respect to the options activities of 
Archipelago Securities, L.L.C. (``Archipelago Securities''),\8\ except 
for ``real-time market surveillance.''
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 54238 (July 28, 
2006), 71 FR 44758 (August 7, 2006) (SR-NYSEArca-2006-13) (OX 
Approval Order).
    \7\ 17 CFR 240.17d-2.
    \8\ Archipelago Securities, a wholly-owned subsidiary of 
Archipelago Holdings, Inc. and a registered broker-dealer, acts as 
the outbound order router for the NYSE Arca Marketplace (formerly 
known as the Archipelago Exchange) and, as such, is regulated as an 
exchange ``facility'' of NYSE Arca and NYSE Arca Equities, Inc. See 
15 U.S.C. 78c(a)(2). As such, any proposed rule change relating to 
Archipelago Securities' order-routing function must be filed with 
the Commission, and must operate in a manner that is consistent with 
the provisions of the Act applicable to exchanges and with NYSE Arca 
rules.
---------------------------------------------------------------------------

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
    In connection with the Commission's approval of the Exchange's new 
electronic options trading platform, OX, Archipelago Securities became 
a routing broker for OX options orders on the Exchange.\9\ In Amendment 
No. 3 to its filing seeking approval of the OX platform,\10\ the 
Exchange proposed to clarify that NASD, a self-regulatory organization 
unaffiliated with the Exchange or any of its affiliates, would continue 
to carry out oversight and enforcement responsibilities as the 
Designated Examining Authority designated by the Commission pursuant to 
Rule 17d-1 under the Act \11\ with the

[[Page 66212]]

responsibility for examining Archipelago Securities for compliance with 
the applicable financial responsibility rules. Furthermore, the 
Exchange represented that it would enter into the NASD/NYSE Arca 
Options Agreement pursuant to Rule 17d-2 under the Act,\12\ to expand 
the allocation to NASD of regulatory responsibility to encompass all 
the regulatory oversight and enforcement responsibilities with respect 
to the options activities of Archipelago Securities, except for ``real-
time market surveillance.'' \13\ The Exchange agreed to submit the NASD 
/ NYSE Arca Options Agreement to the Commission under Rule 17d-2 within 
90 days of the date of the Commission's approval of the OX trading 
platform.\14\ The 90 day period elapsed on October 26, 2006.
---------------------------------------------------------------------------

    \9\ See OX Approval Order, supra note 6. Pursuant to NYSE Arca 
Rule 6.1A(a)(15), which was adopted in connection with the 
establishment of the new OX trading platform, the term ``OX Routing 
Broker'' refers to the broker-dealer affiliate of the Exchange that 
acts as agent for routing orders entered into OX of OTP Holders, OTP 
Firms and OTP Firms' Sponsored Participants to other Market Centers 
for execution whenever such routing is permitted by Exchange Rules. 
Archipelago Securities is the Exchange's only OX Routing Broker.
    \10\ See OX Approval Order, supra note 6.
    \11\ 17 CFR 240.17d-1.
    \12\ 17 CFR 240.17d-2.
    \13\ See OX Approval Order, supra note 6.
    \14\ Id.
---------------------------------------------------------------------------

    On October 20, 2006, the Exchange submitted to the Commission a 
draft NASD/NYSE Arca Options Agreement, but has not yet received 
Commission approval. The Exchange believes that an extension of time 
for an additional 90 days from the date of this filing to enter into 
the NASD/NYSE Arca Options Agreement will give the Commission staff 
sufficient time to publish and take action on the proposal.
    The Exchange believes that the requested extension of time is 
consistent with the Act and the rules and regulations thereunder, will 
not significantly affect the protection of investors or the public 
interest, and does not impose any significant burden on competition. 
The Exchange notes that NASD already carries out oversight and 
enforcement responsibilities as the Designated Examining Authority 
designated by the Commission pursuant to Rule 17d-1 under the Act \15\ 
with the responsibility for examining Archipelago Securities for 
compliance with the applicable financial responsibility rules.
---------------------------------------------------------------------------

    \15\ 17 CFR 240.17d-1.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\16\ in general, and furthers the 
objectives of Section 6(b)(5) of the Act,\17\ in particular, in that it 
is designed to prevent fraudulent and manipulative acts and practices, 
to promote just and equitable principles of trade, to foster 
cooperation and coordination with persons engaged in regulating 
clearing, settling, processing information with respect to, and 
facilitating transactions in securities, 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.
---------------------------------------------------------------------------

    \16\ 15 U.S.C. 78f(b).
    \17\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    Written comments on the proposed rule change were neither solicited 
nor received.

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

    Because the foregoing rule: (i) Does not significantly affect the 
protection of investors or the public interest; (ii) does not impose 
any significant burden on competition; and (iii) by its terms, does not 
become operative for 30 days from the date on which it was filed, or 
such shorter time as the Commission may designate if consistent with 
the protection of investors and the public interest,\18\ the proposed 
rule change has become effective pursuant to Section 19(b)(3)(A) of the 
Act \19\ and Rule 19b-4(f)(6) thereunder.\20\
---------------------------------------------------------------------------

    \18\ Pursuant to Rule 19b-4(f)(6)(iii) under the Act, the 
Exchange is required to give 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, at least five 
business days prior to the date of filing of the proposed rule 
change, or such shorter time as designated by the Commission. The 
Exchange has requested that the Commission waive the 5-day pre-
filing notice requirement. The Commission has determined to waive 
this requirement for this filing.
    \19\ 15 U.S.C. 78s(b)(3)(A).
    \20\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day 
operative delay, which would make the rule change effective and 
operative upon filing. The Commission believes that waiving the 30-day 
operative delay is consistent with the protection of investors and the 
public interest. Such waiver will allow the Exchange to comply with its 
undertaking made in connection with the OX Approval Order to submit the 
NASD/NYSE Arca Options Agreement to the Commission. The Exchange 
requests a waiver of the 30-day period on the basis that the current 
deadline for entering into the NASD/NYSE Arca Options Agreement was 
October 26, 2006, and a delay of 30 days would place the Exchange out 
of compliance with its undertaking. Extending the compliance date for 
the Exchange's undertaking by an additional 90 days will provide time 
for the Exchange to finalize and file the Agreement. For these reasons, 
the Commission designates the proposal to be effective and operative 
upon filing with the Commission.\21\
---------------------------------------------------------------------------

    \21\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed rule's impact on 
efficiency, competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------

    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:

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 NYSEArca-2006-79 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 NYSEArca-2006-79. 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

[[Page 66213]]

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 the filing 
also will be available for inspection and copying at the principal 
office 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 
NYSEArca-2006-79 and should be submitted on or before December 4, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\22\
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    \22\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-19063 Filed 11-9-06; 8:45 am]
BILLING CODE 8011-01-P