Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Trade Recording and Value Fees and NMS Linkage, 67689-67690 [E6-19736]

Download as PDF Federal Register / Vol. 71, No. 225 / Wednesday, November 22, 2006 / Notices 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.20 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: pwalker on PROD1PC61 with NOTICES Electronic comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–Phlx–2006–76 on the subject line. Paper comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–Phlx–2006–76. 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 the filing also will be available for inspection and copying at the principal office of the Phlx. 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–Phlx–2006–76 and should be submitted on or before December 13, 2006. 20 See 21 17 15 U.S.C. 78s(b)(3)(C). CFR 200.30–3(a)(12). VerDate Aug<31>2005 22:25 Nov 21, 2006 Jkt 211001 For the Commission, by the Division of Market Regulation, pursuant to delegated authority.21 Nancy M. Morris, Secretary. [FR Doc. E6–19730 Filed 11–21–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54756; File No. SR–SCCP– 2006–03] Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Trade Recording and Value Fees and NMS Linkage November 15, 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 26, 2006, Stock Clearing Corporation of Philadelphia (‘‘SCCP’’) 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 SCCP. 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 SCCP, pursuant to Section 19(b)(1) of the Act 3 and Rule 19b–4 thereunder,4 is amending its Trade Recording Fee and its Value Fee (together ‘‘Fees’’) that are set forth in its Fee Schedule. The amendment extends the application of the Fees to an order that is executed by way of an outbound NMS Linkage order when such outbound NMS Linkage order reflects the PACE order’s clearing information after being delivered to the Philadelphia Stock Exchange, Inc. (‘‘Phlx’’) by the PACE system.5 The Fees will not apply where a PACE order was executed against an inbound NMS Linkage order. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(1). 4 17 CFR 240.19b–4. 5 PACE is Phlx’s automated order routing, delivery, execution and reporting system for equities. Phlx Rule 229. 2 17 PO 00000 Frm 00149 Fmt 4703 Sfmt 4703 67689 I. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, SCCP 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. SCCP 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 The purpose of the proposed rule change is treat PACE trades that interact with NMS Linkage 6 orders the same as Intermarket Trading System (‘‘ITS’’) commitments with respect to the Fees.7 The NMS Linkage Plan is the successor plan to the ITS Plan. While there are some operational differences between the two plans, both facilitate intermarket linkage among market centers trading certain listed securities, and SCCP believes the NMS Linkage Plan will be used in a similar manner as the ITS Plan by Phlx members and member organizations. Therefore, SCCP proposes to apply the Fees to PACE trades that interact with NMS Linkage orders in the identical manner as PACE trades that interact with ITS commitments. This is accomplished by adding the words ‘‘or NMS Linkage order’’ to footnote 1 in the SCCP Fee Schedule. SCCP believes that the proposed rule change is consistent with Section 17A of the Act and with Section 17A(b)(3)(D) in particular because it provides for the equitable allocation of reasonable fees and other charges among its participants. B. Self-Regulatory Organization’s Statement on Burden on Competition SCCP does not believe that the proposed rule change will impose any inappropriate burden on competition. 6 The Commission published notice of the NMS Linkage Plan in Securities Exchange Act Release No. 54239 (July 28, 2006), 71 FR 44328 (August 4, 2006) [File No. 4–524]. A NMS Linkage Plan, dated August 1, 2006, and reflecting Phlx’s inclusion as a Participant, was sent to the Commission on August 8, 2006. 7 Securities Exchange Act Release No. 47922 (May 23, 2003), 68 FR 33560 (June 4, 2003) [File No. SR– SCCP–2002–08] (order adopting the current fee treatment of PACE trades that interact with ITS commitments). E:\FR\FM\22NON1.SGM 22NON1 67690 Federal Register / Vol. 71, No. 225 / Wednesday, November 22, 2006 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were either solicited or received. I. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act 8 and Rule 19b–4(f)(2) 9 thereunder because it establishes or changes a due, fee, or other charge. 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: pwalker on PROD1PC61 with NOTICES Electronic Comments • Use the Commission’s Internet comment form ( https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–SCCP–2006–03 on the subject line. 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 the filing also will be available for inspection and copying at the principal office of SCCP. 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–SCCP–2006–03 and should be submitted on or before December 13, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.10 Nancy M. Morris, Secretary. [FR Doc. E6–19736 Filed 11–21–06; 8:45 am] 9 17 U.S.C. 78(s)(b)(3)(A)(ii). CFR 240.19b–4(f)(2). VerDate Aug<31>2005 22:25 Nov 21, 2006 SMALL BUSINESS ADMINISTRATION Other (Including Non-Profit Organizations) With Credit Available Elsewhere ................................. Businesses And Non-Profit Organizations Without Credit Available Elsewhere ......................... 5.000 4.000 The number assigned to this disaster for physical damage is 10715. (Catalog of Federal Domestic Assistance Number 59008) Jane M. Pease, Acting Associate Administrator for Disaster Assistance. [FR Doc. E6–19711 Filed 11–21–06; 8:45 am] BILLING CODE 8025–01–P DEPARTMENT OF STATE [Public Notice 5618] Disaster Declaration #10715, Alaska Disaster #AK–00010 U.S. Small Business Administration. ACTION: Notice. AGENCY: 10 17 Jkt 211001 Percent BILLING CODE 8011–01–P SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of ALASKA ( FEMA–1666– DR), dated 10/27/2006. Incident: Hooper Bay Fire. Paper Comments Incident Period: 08/03/2006 Through • Send paper comments in triplicate 08/04/2006. Effective Date: 10/27/2006. to Nancy M. Morris, Secretary, Physical Loan Application Deadline Securities and Exchange Commission, Date: 12/26/2006. 100 F Street, NE., Washington, DC Addresses: Submit completed loan 20549–1090. applications to: U.S. Small Business All submissions should refer to File Administration, Processing and Number SR–SCCP–2006–03. This file Disbursement Center, 14925 Kingsport number should be included on the subject line if e-mail is used. To help the Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Commission process and review your Escobar, Office of Disaster Assistance, comments more efficiently, please use only one method. The Commission will U.S. Small Business Administration, post all comments on the Commission’s 409 3rd Street, SW., Suite 6050, Washington, DC 20416 Internet Web site (https://www.sec.gov/ SUPPLEMENTARY INFORMATION: Notice is rules/sro.shtml). Copies of the hereby given that as a result of the submission, all subsequent President’s major disaster declaration on amendments, all written statements 10/27/2006, Private Non-Profit with respect to the proposed rule organizations that provide essential change that are filed with the services of a governmental nature may Commission, and all written file disaster loan applications at the communications relating to the address listed above or other locally proposed rule change between the announced locations. 8 15 The following areas have been determined to be adversely affected by the disaster: Primary Counties: The City Of Hooper Bay Within The Lower Yukon Area. The Interest Rates are: PO 00000 CFR 200.30–3(a)(12). Frm 00150 Fmt 4703 Sfmt 4703 Bureau of Educational and Cultural Affairs (ECA) Request for Grant Proposals: Iraqi Young Leaders Exchange Program for Undergraduate Students Announcement Type: New Cooperative Agreement. Funding Opportunity Number: ECA/A/E/ USS–07–IYL. Catalog of Federal Domestic Assistance Number: 00.000. Dates: Key Dates: Application Deadline: January 12, 2007. Executive Summary: The Branch for the Study of the United States, Office of Academic Exchange Programs, Bureau of Educational and Cultural Affairs, announces an open competition for the ‘‘Iraqi Young Leaders Exchange Program for Undergraduate Students,’’ a series of six-week thematic institutes to take place at four different host institutions during the summers of 2007 and 2008. Accredited post-secondary education institutions in the United States and public and private non-profit organizations or consortia of organizations may submit proposals to cooperate with the Bureau in the administration and implementation of this program. Each institute should provide a group of 15–20 highly motivated Iraqi undergraduate students with an integrated and imaginatively designed academic program that includes structured classroom instruction in one of the following four E:\FR\FM\22NON1.SGM 22NON1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 71, Number 225 (Wednesday, November 22, 2006)]
[Notices]
[Pages 67689-67690]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-19736]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54756; File No. SR-SCCP-2006-03]


Self-Regulatory Organizations; Stock Clearing Corporation of 
Philadelphia; Notice of Filing and Immediate Effectiveness of a 
Proposed Rule Change Relating to Trade Recording and Value Fees and NMS 
Linkage

November 15, 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 26, 2006, Stock Clearing Corporation of Philadelphia 
(``SCCP'') 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 SCCP. 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.
---------------------------------------------------------------------------

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

    SCCP, pursuant to Section 19(b)(1) of the Act \3\ and Rule 19b-4 
thereunder,\4\ is amending its Trade Recording Fee and its Value Fee 
(together ``Fees'') that are set forth in its Fee Schedule. The 
amendment extends the application of the Fees to an order that is 
executed by way of an outbound NMS Linkage order when such outbound NMS 
Linkage order reflects the PACE order's clearing information after 
being delivered to the Philadelphia Stock Exchange, Inc. (``Phlx'') by 
the PACE system.\5\ The Fees will not apply where a PACE order was 
executed against an inbound NMS Linkage order.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78s(b)(1).
    \4\ 17 CFR 240.19b-4.
    \5\ PACE is Phlx's automated order routing, delivery, execution 
and reporting system for equities. Phlx Rule 229.
---------------------------------------------------------------------------

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

    In its filing with the Commission, SCCP 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. SCCP 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

    The purpose of the proposed rule change is treat PACE trades that 
interact with NMS Linkage \6\ orders the same as Intermarket Trading 
System (``ITS'') commitments with respect to the Fees.\7\ The NMS 
Linkage Plan is the successor plan to the ITS Plan. While there are 
some operational differences between the two plans, both facilitate 
intermarket linkage among market centers trading certain listed 
securities, and SCCP believes the NMS Linkage Plan will be used in a 
similar manner as the ITS Plan by Phlx members and member 
organizations. Therefore, SCCP proposes to apply the Fees to PACE 
trades that interact with NMS Linkage orders in the identical manner as 
PACE trades that interact with ITS commitments. This is accomplished by 
adding the words ``or NMS Linkage order'' to footnote 1 in the SCCP Fee 
Schedule.
---------------------------------------------------------------------------

    \6\ The Commission published notice of the NMS Linkage Plan in 
Securities Exchange Act Release No. 54239 (July 28, 2006), 71 FR 
44328 (August 4, 2006) [File No. 4-524]. A NMS Linkage Plan, dated 
August 1, 2006, and reflecting Phlx's inclusion as a Participant, 
was sent to the Commission on August 8, 2006.
    \7\ Securities Exchange Act Release No. 47922 (May 23, 2003), 68 
FR 33560 (June 4, 2003) [File No. SR-SCCP-2002-08] (order adopting 
the current fee treatment of PACE trades that interact with ITS 
commitments).
---------------------------------------------------------------------------

    SCCP believes that the proposed rule change is consistent with 
Section 17A of the Act and with Section 17A(b)(3)(D) in particular 
because it provides for the equitable allocation of reasonable fees and 
other charges among its participants.

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

    SCCP does not believe that the proposed rule change will impose any 
inappropriate burden on competition.

[[Page 67690]]

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

    No written comments were either solicited or received.

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

    The foregoing proposed rule change has become effective pursuant to 
Section 19(b)(3)(A)(ii) of the Act \8\ and Rule 19b-4(f)(2) \9\ 
thereunder because it establishes or changes a due, fee, or other 
charge. 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.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78(s)(b)(3)(A)(ii).
    \9\ 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-SCCP-2006-03 on the subject line.

Paper Comments

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

    All submissions should refer to File Number SR-SCCP-2006-03. 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 the 
filing also will be available for inspection and copying at the 
principal office of SCCP. 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-SCCP-2006-03 and should be submitted on or before December 13, 2006.
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\10\
Nancy M. Morris,
Secretary.
[FR Doc. E6-19736 Filed 11-21-06; 8:45 am]
BILLING CODE 8011-01-P

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.