Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adding the Security Holder Report Service to the Security Position Report Service, 1793-1794 [E7-389]

Download as PDF Federal Register / Vol. 72, No. 9 / Tuesday, January 16, 2007 / Notices the Commission’s Public Reference Room. Copies of such 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 SR–BSE–2006–03 and should be submitted on or before February 6, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.26 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–406 Filed 1–12–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55058; File No. SR–DTC– 2006–17] Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adding the Security Holder Report Service to the Security Position Report Service January 8, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on November 17, 2006, The Depository Trust Company (‘‘DTC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) and on January 5, 2007, amended the proposed rule change described in Items I, II, and III below, which items have been prepared primarily by DTC. The Commission is publishing this notice to solicit comments on the proposed rule change from interested parties. sroberts on PROD1PC70 with NOTICES I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The purpose of the proposed rule change is to add a new service, the Security Holder Report (‘‘SHR’’) service, to DTC’s Security Position Report (‘‘SPR’’) service. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, DTC included statements concerning CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). VerDate Aug<31>2005 15:23 Jan 12, 2007 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. DTC has prepared summaries, set forth in sections (A), (B), and (C) below, of the most significant aspects of these statements.2 protects investors and the public interest. (A) Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change SPRs are reports prepared by DTC that show for each issuer whose securities are eligible for DTC’s book entry services the identity of each DTC participant having that issuer’s securities credited to its participant account and the quantity of that issuer’s securities that the DTC participant has credited to its participant account as of a selected date. Most securities are registered with the issuer’s transfer agent in the name of DTC’s nominee, Cede & Co. Issuers rely on DTC to provide them with SPR information. DTC also provides SPR information to trustees and authorized third party agents. These entities typically need SPR information provided by DTC in order to properly conduct proxy, record date, and voting rights related functions. Some authorized users of the SPR service also perform regulatory reporting functions for which they require the participants’ identities but do not need the corresponding quantity of securities credited to each participant. Currently, such users are required to order from DTC an SPR, which costs $120 per CUSIP. In order to mitigate user expenses, DTC is proposing to offer the SHR service as part of its SPR service. The SHR will allow authorized users to obtain reports with only participant identity. SHRs will result in lower production costs to DTC and in greater protection of participant information and will allow a lower fee to be charged than that for standard SPRs. The SHR fees are: (i) $55.00 per CUSIP for the first 500 CUSIPS and (ii) $6.00 per CUSIP for requests of 501 or more CUSIPS. The proposed rule change is consistent with the requirements of Section 17A of the Act 3 and the rules and regulations thereunder applicable to DTC because it will foster cooperation and coordination with persons engaged in the clearance and settlement of securities transactions and, in general, (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments relating to the proposed rule change have been solicited or received. DTC will notify the Commission of any written comments received by DTC. 2 The Commission has modified the text of the summaries prepared by DTC. 3 15 U.S.C. 78q–1. 26 17 Jkt 211001 1793 PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 (B) Self-Regulatory Organization’s Statement on Burden on Competition DTC does not believe that the proposed rule change will have any impact on or impose any burden on competition. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(iii) of the Act 4 and Rule 19b–4(f)(4) 5 thereunder because the proposed rule change effects a change in an existing service of DTC that (i) does not adversely affect the safeguarding of securities or funds in the custody or control of DTC or for which it is responsible and (ii) does not significantly affect the respective rights or obligations of DTC or persons using the service. At any time within sixty 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.6 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 4 15 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(4). 6 For purposes of calculating the 60-day period within which the Commission may summarily abrogate the proposed rule change under Section 19(b)(3)(C) of the Act, the Commission considers the period to commence on January 5, 2007, the date on which the last amendment to the proposed rule change was filed with the Commission. 15 U.S.C. 78s(b)(3)(C). 5 17 E:\FR\FM\16JAN1.SGM 16JAN1 1794 Federal Register / Vol. 72, No. 9 / Tuesday, January 16, 2007 / Notices Number SR–DTC–2006–17 on the subject line. SECURITIES AND EXCHANGE COMMISSION Paper Comments [Release No. 34–55053; File No. SR– NYSEArca–2006–38] • 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–DTC–2006–17. 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 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 Section, 100 F Street, NE., Washington, DC 20549. Copies of such filing also will be available for inspection and copying at the principal office of DTC and on DTC’s Web site at https:// login.dtcc.com/dtcorg/. 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–DTC– 2006–17 and should be submitted on or before February 6, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.7 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–389 Filed 1–12–07; 8:45 am] BILLING CODE 8011–01–P Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change to Trade iShares S&P Global Index Funds and iShares MSCI EAFE Index Fund Pursuant to Unlisted Trading Privileges January 5, 2007. 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 18, 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 substantially prepared by the Exchange. The Commission is publishing this notice and order to solicit comments on the proposal from interested persons and to approve the proposal on an accelerated basis. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange, through its wholly owned subsidiary NYSE Arca Equities, Inc. (‘‘NYSE Arca Equities’’) proposes to trade shares (‘‘Shares’’) of the following index funds (‘‘Funds’’) 3 pursuant to unlisted trading privileges (‘‘UTP’’) based on NYSE Arca Equities Rule 5.2(j)(3): • iShares S&P Global Energy Sector Index Fund (Symbol: IXC) • iShares S&P Global Financials Sector Index Fund (IXG) • iShares S&P Global Health Care Sector Index Fund (IXJ) • iShares S&P Global Telecommunications Sector Index Fund (IXP) • iShares S&P Global Information Technology Sector Index Fund (IXN) • iShares S&P/TOPIX 150 Index Fund (ITF) • iShares S&P Latin America 40 Index Fund (ILF); and • iShares MSCI EAFE Index Fund (EFA) The text of the proposed rule change is available on the Exchange’s Web site sroberts on PROD1PC70 with NOTICES 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 See e-mail dated January 4, 2007 from Michael Cavalier, Assistant General Counsel, NYSE Group, Inc. to Mitra Mehr, Special Counsel, Division of Market Regulation, Commission, reflecting a technical correction to the names of the relevant funds. 2 17 7 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 15:23 Jan 12, 2007 Jkt 211001 PO 00000 Frm 00092 Fmt 4703 Sfmt 4703 (http://www.nysearca.com), at the principal office of the Exchange, and at the Commission’s Public Reference Room. 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 III below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange is proposing to trade the Shares pursuant to UTP. The index underlying each Fund (‘‘each, an Index’’) consists of both U.S. and/or foreign stocks. The investment objective of each Fund is to provide investment results that correspond generally to the price and yield performance of its underlying Index. In seeking to achieve its respective investment objective, each Fund utilizes a ‘‘representative sampling’’ strategy, which is a passive investment strategy, to track its applicable Index. Each Fund will attempt to hold a representative sample of the Index’s component securities utilizing quantitative analytical models. At least 90% of each Fund’s total assets will be invested in the Index’s component securities. Each Fund also may invest up to 10% of its total assets in stocks that are not included in its Index. The Commission previously approved the original listing and trading of the Shares on the American Stock Exchange LLC (‘‘Amex’’).4 The Exchange deems the Shares to be equity securities, thus rendering trading in the Shares subject to the Exchange’s existing rules governing the trading of equity securities. The trading hours for the Shares on the Exchange are the same as those set forth in NYSE Arca Equities Rule 7.34, except that the Shares, with the exception of iShares S&P/TOPIX 150 Index Fund, will not trade during the Opening Session (4 a.m. to 9:30 a.m. 4 See Securities Exchange Act Release No. 44700 (August 14, 2001), 66 FR 43927 (August 21, 2001) (SR–Amex–2001–34). E:\FR\FM\16JAN1.SGM 16JAN1

Agencies

[Federal Register Volume 72, Number 9 (Tuesday, January 16, 2007)]
[Notices]
[Pages 1793-1794]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-389]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55058; File No. SR-DTC-2006-17]


Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Adding the Security Holder Report Service to the Security Position 
Report Service

January 8, 2007.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on November 17, 2006, The 
Depository Trust Company (``DTC'') filed with the Securities and 
Exchange Commission (``Commission'') and on January 5, 2007, amended 
the proposed rule change described in Items I, II, and III below, which 
items have been prepared primarily by DTC. The Commission is publishing 
this notice to solicit comments on the proposed rule change from 
interested parties.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------

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

    The purpose of the proposed rule change is to add a new service, 
the Security Holder Report (``SHR'') service, to DTC's Security 
Position Report (``SPR'') service.

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

    In its filing with the Commission, DTC 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. DTC has prepared summaries, set forth in sections (A), 
(B), and (C) below, of the most significant aspects of these 
statements.\2\
---------------------------------------------------------------------------

    \2\ The Commission has modified the text of the summaries 
prepared by DTC.
---------------------------------------------------------------------------

(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    SPRs are reports prepared by DTC that show for each issuer whose 
securities are eligible for DTC's book entry services the identity of 
each DTC participant having that issuer's securities credited to its 
participant account and the quantity of that issuer's securities that 
the DTC participant has credited to its participant account as of a 
selected date. Most securities are registered with the issuer's 
transfer agent in the name of DTC's nominee, Cede & Co. Issuers rely on 
DTC to provide them with SPR information. DTC also provides SPR 
information to trustees and authorized third party agents. These 
entities typically need SPR information provided by DTC in order to 
properly conduct proxy, record date, and voting rights related 
functions.
    Some authorized users of the SPR service also perform regulatory 
reporting functions for which they require the participants' identities 
but do not need the corresponding quantity of securities credited to 
each participant. Currently, such users are required to order from DTC 
an SPR, which costs $120 per CUSIP. In order to mitigate user expenses, 
DTC is proposing to offer the SHR service as part of its SPR service. 
The SHR will allow authorized users to obtain reports with only 
participant identity. SHRs will result in lower production costs to DTC 
and in greater protection of participant information and will allow a 
lower fee to be charged than that for standard SPRs. The SHR fees are:
    (i) $55.00 per CUSIP for the first 500 CUSIPS and
    (ii) $6.00 per CUSIP for requests of 501 or more CUSIPS.
    The proposed rule change is consistent with the requirements of 
Section 17A of the Act \3\ and the rules and regulations thereunder 
applicable to DTC because it will foster cooperation and coordination 
with persons engaged in the clearance and settlement of securities 
transactions and, in general, protects investors and the public 
interest.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78q-1.
---------------------------------------------------------------------------

(B) Self-Regulatory Organization's Statement on Burden on Competition

    DTC does not believe that the proposed rule change will have any 
impact on or impose any burden on competition.

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

    No written comments relating to the proposed rule change have been 
solicited or received. DTC will notify the Commission of any written 
comments received by DTC.

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

    The foregoing rule change has become effective upon filing pursuant 
to Section 19(b)(3)(A)(iii) of the Act \4\ and Rule 19b-4(f)(4) \5\ 
thereunder because the proposed rule change effects a change in an 
existing service of DTC that (i) does not adversely affect the 
safeguarding of securities or funds in the custody or control of DTC or 
for which it is responsible and (ii) does not significantly affect the 
respective rights or obligations of DTC or persons using the service. 
At any time within sixty 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.\6\
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    \4\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \5\ 17 CFR 240.19b-4(f)(4).
    \6\ For purposes of calculating the 60-day period within which 
the Commission may summarily abrogate the proposed rule change under 
Section 19(b)(3)(C) of the Act, the Commission considers the period 
to commence on January 5, 2007, the date on which the last amendment 
to the proposed rule change was filed with the Commission. 15 U.S.C. 
78s(b)(3)(C).
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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 (http://
www.sec.gov/rules/sro.shtml) or
     Send an e-mail to rule-comments@sec.gov. Please include 
File

[[Page 1794]]

Number SR-DTC-2006-17 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-DTC-2006-17. 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 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 Section, 100 F Street, 
NE., Washington, DC 20549. Copies of such filing also will be available 
for inspection and copying at the principal office of DTC and on DTC's 
Web site at https://login.dtcc.com/dtcorg/. 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-DTC-2006-17 and should be submitted on 
or before February 6, 2007.
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    \7\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-389 Filed 1-12-07; 8:45 am]
BILLING CODE 8011-01-P