Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Fees Associated With the Trade Processing of Equity Securities in Connection With XLE, 832-834 [E6-22659]

Download as PDF 832 Federal Register / Vol. 72, No. 4 / Monday, January 8, 2007 / Notices of a member organization serves as a director of NYSE Euronext, this fact shall not cause such member organization to be an affiliate of the Exchange, or an affiliate of an affiliate of the Exchange. The proposed amended Exchange Rules are attached to the Proposed Rule Change as Exhibit 5L 45 and can be found on the Exchange’s Web site and on the SEC’s Web site. 2. Statutory Basis The Exchange believes that this filing is consistent with Section 6(b) of the Exchange Act,46 in general, and furthers the objectives of Section 6(b)(1) 47 in particular, in that it enables the Exchange to be so organized as to have the capacity to be able to carry out the purposes of the Exchange Act and to comply, and to enforce compliance by its exchange members and persons associated with its exchange members, with the provisions of the Exchange Act, the rules and regulations thereunder, and the rules of the Exchange. The Exchange also believes that this filing furthers the objectives of Section 6(b)(5) 48 of the Exchange Act because the rules summarized herein would create a governance and regulatory structure that is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to, and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest. 2. 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. jlentini on PROD1PC65 with NOTICES 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. 45 The following Exchange Rules being amended in this filing are currently the subject of pending, proposed amendments previously filed with the SEC: (1) Rule 103B (see Exchange Act Release No. 53602 (April 5, 2006), 71 FR 18791 (April 12, 2006) (SR–NYSE–2005–40)) and (2) Rule 104 (see Exchange Act Release No. 51048 (January 18, 2005), 70 FR 4171 (January 28, 2005) (SR–NYSE–2004– 70)). See also SR–NYSE–2006–99 (filed on November 9, 2006); and SR–NYSE–2006–100 (filed on November 9, 2006). 46 15 U.S.C. 78f(b). 47 15 U.S.C. 78f(b)(1). 48 15 U.S.C. 78f(b)(5). VerDate Aug<31>2005 17:57 Jan 05, 2007 Jkt 211001 III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. 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 SR–NYSE–2006–120 and should be submitted on or before January 29, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.49 Jill M. Peterson, Assistant Secretary. [FR Doc. E7–17 Filed 1–5–07; 8:45 am] BILLING CODE 8011–01–P 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–NYSE–2006–120 on the subject line. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55016; File No. SR–SCCP– 2006–04] Self-Regulatory Organizations; Stock Clearing Corporation of Philadelphia; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Fees Associated With the Trade Processing of Equity Securities in Connection With XLE December 28, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder 2 Paper Comments notice is hereby given that on November 2, 2006, Stock Clearing Corporation of • Send paper comments in triplicate Philadelphia (‘‘SCCP’’) filed with the to Nancy M. Morris, Secretary, Securities and Exchange Commission Securities and Exchange Commission, (‘‘Commission’’) the proposed rule Station Place, 100 F Street, NE., change as described in Items I, II, and Washington, DC 20549–9010. III, below, which Items have been All submissions should refer to File prepared by SCCP. SCCP filed the Number SR–NYSE–2006–120. This file proposed rule change under Section number should be included on the 3 subject line if e-mail is used. To help the 19(b)(3)(A)(ii) of the Act and Rule 19b– 4(f)(2) 4 thereunder so that the proposal Commission process and review your was effective upon filing with the comments more efficiently, please use only one method. The Commission will Commission. The Commission is post all comments on the Commission’s publishing this notice to solicit comments on the proposed rule change Internet Web site (http://www.sec.gov/ from interested persons. rules/sro.shtml). Copies of the submission, all subsequent I. Self-Regulatory Organization’s amendments, all written statements Statement of the Terms of Substance of with respect to the proposed rule the Proposed Rule Change change that are filed with the SCCP proposes to amend its fee Commission, and all written schedule to reflect fees associated with communications relating to the the trade processing of equity securities proposed rule change between the through SCCP in connection with the Commission and any person, other than new equity trading system of the those that may be withheld from the Philadelphia Stock Exchange, Inc. public in accordance with the provisions of 5 U.S.C. 552, will be 4917 CFR 200.30–3(a)(12). available for inspection and copying in 1 15 U.S.C. 78s(b)(1). the Commission’s Public Reference 2 17 CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). Room. Copies of such filing also will be 4 17 CFR 240.19b–4(f)(2). available for inspection and copying at PO 00000 Frm 00105 Fmt 4703 Sfmt 4703 E:\FR\FM\08JAN1.SGM 08JAN1 Federal Register / Vol. 72, No. 4 / Monday, January 8, 2007 / Notices (‘‘Phlx’’) (‘‘XLE’’).5 Under XLE, Phlx will no longer operate a physical trading floor for equity securities or the Philadelphia Stock Exchange Automated Communication and Execution (‘‘PACE’’) 6 system. Therefore, SCCP proposes to amend its fee schedule as set forth below to: (1) Accommodate the trade processing of equity securities on XLE once XLE is launched; (2) delete any fees that will become obsolete under XLE, and (3) make other minor technical changes to its fee schedule. II. 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 jlentini on PROD1PC65 with NOTICES The purpose of the proposed rule change is to amend SCCP’s fee schedule to accommodate the trade processing of equity securities on XLE once XLE is launched.7 The fees will be assessed on SCCP participants. Specifically, SCCP will change its account fees by charging an account maintenance fee of $150.00 per month for RIO accounts with 20 or fewer trades per month and $250.00 per month for RIO accounts with over 20 trades per month. An account maintenance fee of $650.00 per month will be assessed for margin accounts.8 5 XLE will provide the opportunity for entirely automated executions to occur within a central matching system accessible by Phlx members and member organizations and their sponsored participants. Securities Exchange Act Release No. 54538 (September 28, 2006), 71 FR 59184 (October 6, 2006) [File No. SR–Phlx–2006–43]. Phlx filed a separate proposed rule change [File No. SR–Phlx– 2006–70] with the Commission to adopt a Phlx fee schedule for trading equity securities on XLE. 6 PACE was Phlx’s order routing, delivery, execution, and reporting system for its equity trading floor. Exchange Rules 229 and 229A. 7 The text of the amended fee schedule can be found at http://www.phlx.com/SCCP/sccp_rules/ SR-SCCP-2006-04.pdf 8 The term ‘‘RIO’’ means Regional Interface Organization, which is the system through which SCCP transmits and receives trade data from the National Securities Clearing Corporation (‘‘NSCC’’) for SCCP members that are also NSCC members. SCCP Rule 1. VerDate Aug<31>2005 17:57 Jan 05, 2007 Jkt 211001 SCCP will also charge the following trade recording fees for XLE trades: $0.47 per side for Blue tickets; 9 $0.30 per trade (maximum of $100,000 per month) for XLE market maker 10 trades cleared through a SCCP margin account; and $0.47 per trade for proprietary trades cleared through a SCCP margin account. SCCP will not charge trade recording fees for any other XLE trades. SCCP is renaming its ‘‘value fees’’ as ‘‘transaction fees’’ on Blue tickets and Yellow tickets. Those fees will be $0.0012 per share per side for RIO accounts and $0.035 per $1,000 of contract value per side for margin accounts. The maximum transaction fee for both RIO and margin accounts will be $25.00 per trade per side.11 SCCP believes that the fees set forth above are competitive and should help to encourage Phlx members to clear through SCCP. SCCP proposes to delete: (1) Trade recording fees for PACE trades and for specialist trades matching with PACE trades; (2) specialist (other than remote specialists) discounts for trades cleared through a SCCP margin account; (3) ETF fees, along with associated disclaimers; and (4) SCCP transaction charges (remote specialists only). The purpose of these deletions is to update the fee schedule to delete the charges that have become obsolete under XLE. The purpose of making the minor technical changes to SCCP’s fee schedule, such as renumbering the categories of fees, is to update the fee schedule to incorporate the proposed changes described above. The remaining fees on the SCCP fee schedule will continue to be assessed on SCCP members.12 SCCP believes that 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. 9A Blue ticket refers to a Phlx XLE execution where the clearing information is then submitted to SCCP from a source other than XLE, such as orders entered over technology provided by Phlx for twosided orders. 10 The term ‘‘market maker’’ refers to a Phlx member organization that acts as a market maker pursuant to Phlx Rules 170 et seq. Phlx Rule 1(1). 11 Thus, a SCCP participant that currently uses a RIO account and submits orders to the Phlx through Phlx’s PACE system would not experience a material increase in their trade recording fees and transaction (formally value) fees under this proposal by continuing to use a RIO account and submitting orders to Phlx through the XLE system. 12 These fees include additional suffix account fees, non-XLE trade recording fees for Yellow tickets, treasury transactions, margin account interest, research fees, computer transmissions/ tapes, P&L statement charges, buy-ins, and trade ticket adjustment fees. PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 833 B. Self-Regulatory Organization’s Statement on Burden on Competition SCCP 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 No written comments were either solicited or received. III. 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 13 and Rule 19b–4(f)(2) 14 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: 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–SCCP–2006–04 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–2006–04. 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/ 13 15 14 17 E:\FR\FM\08JAN1.SGM U.S.C. 78(s)(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 08JAN1 834 Federal Register / Vol. 72, No. 4 / Monday, January 8, 2007 / Notices 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–2006–04 and should be submitted on or before January 29, 2007. For the Commission by the Division of Market Regulation, pursuant to delegated authority.15 Jill M. Peterson, Assistant Secretary. [FR Doc. E6–22659 Filed 1–5–07; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION Agency Information Collection Activities: Proposed Request and Comment Request The Social Security Administration (SSA) publishes a list of information collection packages that will require clearance by the Office of Management and Budget (OMB) in compliance with Public Law 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. The information collection packages that are included in this notice are for approvals of a new information collection. SSA is soliciting comments on the accuracy of the agency’s burden estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and on ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Written comments and recommendations regarding the information collection(s) should be submitted to the OMB Desk Officer and the SSA Reports Clearance Officer. The information can be mailed and/or faxed to the individuals at the addresses and fax numbers listed below: (SSA), Social Security Administration, DCFAM, Attn: Reports Clearance Officer, 1333 Annex Building, 6401 Security Blvd., Baltimore, MD 21235, Fax: 410–965–6400. The information collection listed below is pending at SSA and will be submitted to OMB within 60 days from the date of this notice. Therefore, your comments should be submitted to SSA Number of respondents Part of study within 60 days from the date of this publication. You can obtain copies of the collection instruments by calling the SSA Reports Clearance Officer at 410– 965–0454 or by writing to the address listed above. Accelerated Benefits Demonstration Project—0960–NEW The Accelerated Benefits Demonstration Project is a multi-phase study designed to assess whether providing new SSI disability recipients with certain benefits will stabilize or improve their health and help them return to work early. In this long-term study, new SSI disability recipients (i.e., those who have just begun receiving benefits and who have at least 18 months remaining before they qualify for Medicare) will be divided into three groups: (1) A control group who will just receive their regular SSI benefits; (2) a treatment group who will receive immediate access to health care benefits; and (3) a treatment group who will receive health care benefits and additional care management, employment, and benefits services and support. The study, which will be conducted for SSA by research contractors and health care experts, will assess if the additional medical benefits and employment supports help new beneficiaries improve and return to work earlier and if there is a difference between the treatment groups. The respondents are beneficiaries who have just begun receiving SSI disability benefits and are not yet eligible for Medicare health benefits. Type of Request: New information collection. Frequency of response Average burden per response (minutes) Estimated annual burden (hours) Focus Groups .................................................................................................. Pilot Survey ...................................................................................................... Actual Survey/Assessment of Treatment Efficacy (‘‘Baseline Survey’’) .......... Three-Month Follow-Up Survey (‘‘Early Use Survey’’) .................................... 40 500 2,000 480 1 1 1 1 120 30 30 30 80 250 1,000 240 Total .......................................................................................................... 3,020 ........................ ........................ 1,570 Dated: December 29, 2006. Elizabeth A. Davidson, Reports Clearance Officer, Social Security Administration. [FR Doc. E6–22643 Filed 1–5–07; 8:45 am] jlentini on PROD1PC65 with NOTICES BILLING CODE 4191–02–P DEPARTMENT OF STATE [Public Notice 5661] Bureau of Political-Military Affairs: Directorate of Defense Trade Controls; Notifications to the Congress of Proposed Commercial Export Licenses SUMMARY: Notice is hereby given that the Department of State has forwarded 15 17 the attached Notifications of Proposed Export Licenses to the Congress on the dates indicated pursuant to sections 36(c) and 36(d) and in compliance with section 36(f) of the Arms Export Control Act (22 U.S.C. 2776). DATES: Effective Date: As shown on each of the 38 letters. FOR FURTHER INFORMATION CONTACT: Ms. Susan M. Clark, Director, Office of CFR 200.30–3(a)(12). VerDate Aug<31>2005 17:57 Jan 05, 2007 Jkt 211001 PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 E:\FR\FM\08JAN1.SGM 08JAN1

Agencies

[Federal Register Volume 72, Number 4 (Monday, January 8, 2007)]
[Notices]
[Pages 832-834]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-22659]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55016; File No. SR-SCCP-2006-04]


Self-Regulatory Organizations; Stock Clearing Corporation of 
Philadelphia; Notice of Filing and Immediate Effectiveness of Proposed 
Rule Change Relating to Fees Associated With the Trade Processing of 
Equity Securities in Connection With XLE

December 28, 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 November 2, 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. SCCP filed the 
proposed rule change under Section 19(b)(3)(A)(ii) \3\ of the Act and 
Rule 19b-4(f)(2) \4\ thereunder so that the proposal was 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)(ii).
    \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

    SCCP proposes to amend its fee schedule to reflect fees associated 
with the trade processing of equity securities through SCCP in 
connection with the new equity trading system of the Philadelphia Stock 
Exchange, Inc.

[[Page 833]]

(``Phlx'') (``XLE'').\5\ Under XLE, Phlx will no longer operate a 
physical trading floor for equity securities or the Philadelphia Stock 
Exchange Automated Communication and Execution (``PACE'') \6\ system. 
Therefore, SCCP proposes to amend its fee schedule as set forth below 
to: (1) Accommodate the trade processing of equity securities on XLE 
once XLE is launched; (2) delete any fees that will become obsolete 
under XLE, and (3) make other minor technical changes to its fee 
schedule.
---------------------------------------------------------------------------

    \5\ XLE will provide the opportunity for entirely automated 
executions to occur within a central matching system accessible by 
Phlx members and member organizations and their sponsored 
participants. Securities Exchange Act Release No. 54538 (September 
28, 2006), 71 FR 59184 (October 6, 2006) [File No. SR-Phlx-2006-43]. 
Phlx filed a separate proposed rule change [File No. SR-Phlx-2006-
70] with the Commission to adopt a Phlx fee schedule for trading 
equity securities on XLE.
    \6\ PACE was Phlx's order routing, delivery, execution, and 
reporting system for its equity trading floor. Exchange Rules 229 
and 229A.
---------------------------------------------------------------------------

II. 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 to amend SCCP's fee 
schedule to accommodate the trade processing of equity securities on 
XLE once XLE is launched.\7\ The fees will be assessed on SCCP 
participants. Specifically, SCCP will change its account fees by 
charging an account maintenance fee of $150.00 per month for RIO 
accounts with 20 or fewer trades per month and $250.00 per month for 
RIO accounts with over 20 trades per month. An account maintenance fee 
of $650.00 per month will be assessed for margin accounts.\8\
---------------------------------------------------------------------------

    \7\ The text of the amended fee schedule can be found at http://
www.phlx.com/SCCP/sccp_rules/SR-SCCP-2006-04.pdf
    \8\ The term ``RIO'' means Regional Interface Organization, 
which is the system through which SCCP transmits and receives trade 
data from the National Securities Clearing Corporation (``NSCC'') 
for SCCP members that are also NSCC members. SCCP Rule 1.
---------------------------------------------------------------------------

    SCCP will also charge the following trade recording fees for XLE 
trades: $0.47 per side for Blue tickets; \9\ $0.30 per trade (maximum 
of $100,000 per month) for XLE market maker \10\ trades cleared through 
a SCCP margin account; and $0.47 per trade for proprietary trades 
cleared through a SCCP margin account. SCCP will not charge trade 
recording fees for any other XLE trades.
---------------------------------------------------------------------------

    \9\ A Blue ticket refers to a Phlx XLE execution where the 
clearing information is then submitted to SCCP from a source other 
than XLE, such as orders entered over technology provided by Phlx 
for two-sided orders.
    \10\ The term ``market maker'' refers to a Phlx member 
organization that acts as a market maker pursuant to Phlx Rules 170 
et seq. Phlx Rule 1(1).
---------------------------------------------------------------------------

    SCCP is renaming its ``value fees'' as ``transaction fees'' on Blue 
tickets and Yellow tickets. Those fees will be $0.0012 per share per 
side for RIO accounts and $0.035 per $1,000 of contract value per side 
for margin accounts. The maximum transaction fee for both RIO and 
margin accounts will be $25.00 per trade per side.\11\
---------------------------------------------------------------------------

    \11\ Thus, a SCCP participant that currently uses a RIO account 
and submits orders to the Phlx through Phlx's PACE system would not 
experience a material increase in their trade recording fees and 
transaction (formally value) fees under this proposal by continuing 
to use a RIO account and submitting orders to Phlx through the XLE 
system.
---------------------------------------------------------------------------

    SCCP believes that the fees set forth above are competitive and 
should help to encourage Phlx members to clear through SCCP.
    SCCP proposes to delete: (1) Trade recording fees for PACE trades 
and for specialist trades matching with PACE trades; (2) specialist 
(other than remote specialists) discounts for trades cleared through a 
SCCP margin account; (3) ETF fees, along with associated disclaimers; 
and (4) SCCP transaction charges (remote specialists only). The purpose 
of these deletions is to update the fee schedule to delete the charges 
that have become obsolete under XLE. The purpose of making the minor 
technical changes to SCCP's fee schedule, such as renumbering the 
categories of fees, is to update the fee schedule to incorporate the 
proposed changes described above.
    The remaining fees on the SCCP fee schedule will continue to be 
assessed on SCCP members.\12\
---------------------------------------------------------------------------

    \12\ These fees include additional suffix account fees, non-XLE 
trade recording fees for Yellow tickets, treasury transactions, 
margin account interest, research fees, computer transmissions/
tapes, P&L statement charges, buy-ins, and trade ticket adjustment 
fees.
---------------------------------------------------------------------------

    SCCP believes that 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 
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

    No written comments were either solicited or received.

III. 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 \13\ and Rule 19b-4(f)(2) \14\ 
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.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78(s)(b)(3)(A)(ii).
    \14\ 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-SCCP-2006-04 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-2006-04. 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/

[[Page 834]]

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-2006-04 and should be submitted on or before January 29, 2007.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\15\
---------------------------------------------------------------------------

    \15\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Jill M. Peterson,
Assistant Secretary.
 [FR Doc. E6-22659 Filed 1-5-07; 8:45 am]
BILLING CODE 8011-01-P