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]
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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).
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17:57 Jan 05, 2007
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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 (https://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 (https://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
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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 https://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.
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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.
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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 (https://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 (https://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
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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]
-----------------------------------------------------------------------
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).
---------------------------------------------------------------------------
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 https://
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.
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\13\ 15 U.S.C. 78(s)(b)(3)(A)(ii).
\14\ 17 CFR 240.19b-4(f)(2).
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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-2006-04 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 (https://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\
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\15\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. E6-22659 Filed 1-5-07; 8:45 am]
BILLING CODE 8011-01-P
