Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectivenes of Proposed Rule Change to Eliminate the Exemption from Equity Trading Fees for Principal Transactions by a Member Organization “Facilitating” a Customer Order of at Least 10,000 Shares, 2577-2578 [07-139]

Download as PDF Federal Register / Vol. 72, No. 12 / Friday, January 19, 2007 / Notices B. Self-Regulatory Organization’s Statement on Burden on Competition NASD does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change is subject to Section 19(b)(3)(A)(iii) of the Act 12 and Rule 19b–4(f)(6) thereunder 13 because the proposal: (i) Does not significantly affect the protection of investors or the public interest; (ii) does not impose any significant burden on competition; and (iii) does not become operative prior to 30 days after the date of filing or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest; provided that NASD has given the Commission notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission.14 At any time within 60 days of the filing of such 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. sroberts on PROD1PC70 with NOTICES 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: Number SR–NASD–2007–001 on the subject line. SECURITIES AND EXCHANGE COMMISSION Paper Comments [Release No. 34–55069; File No. SR–NYSE– 2006–117] • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectivenes of Proposed Rule Change to Eliminate the Exemption from Equity Trading All submissions should refer to File Fees for Principal Transactions by a Number SR–NASD–2007–001. This file Member Organization ‘‘Facilitating’’ a number should be included on the Customer Order of at Least 10,000 subject line if e-mail is used. To help the Shares Commission process and review your January 9, 2007. comments more efficiently, please use Pursuant to Section 19(b)(1) of the only one method. The Commission will Securities Exchange Act of 1934 post all comments on the Commission’s (‘‘Act’’),1 and Rule 19b–4 thereunder,2 Internet Web site (http://www.sec.gov/ notice is hereby given that on December rules/sro.shtml). Copies of the 22, 2006, the New York Stock Exchange submission, all subsequent LLC (‘‘Exchange’’ or ‘‘NYSE’’) filed with amendments, all written statements the Securities and Exchange with respect to the proposed rule Commission (‘‘Commission’’) the change that are filed with the proposed rule change as described in Commission, and all written Items I, II, and III below, which Items communications relating to the have been substantially prepared by the proposed rule change between the Exchange. NYSE has designated this Commission and any person, other than proposal as one establishing or changing those that may be withheld from the a due, fee, or other charge imposed by public in accordance with the NYSE under Section 19(b)(3)(A)(ii) of provisions of 5 U.S.C. 552, will be the Act 3 and Rule 19b–4(f)(2) available for inspection and copying in thereunder,4 which renders the proposed rule change effective upon the Commission’s Public Reference filing with the Commission. The Room. Copies of the filing also will be Commission is publishing this notice to available for inspection and copying at solicit comments on the proposed rule the principal office of NASD. All change from interested persons. comments received will be posted without change; the Commission does I. Self-Regulatory Organization’s not edit personal identifying Statement of the Terms of Substance of information from submissions. You the Proposed Rule Change should submit only information that The Exchange proposes to eliminate, you wish to make available publicly. All effective January 1, 2007, the exemption submissions should refer to File from equity trading fees applicable to Number SR–NASD–2007–001 and principal transactions by a member should be submitted on or before organization in conjunction with February 9, 2007. ‘‘facilitating’’ a customer order of at least 10,000 shares. For the Commission, by the Division of The text of the proposed rule change Market Regulation, pursuant to delegated is available at NYSE, the Commission’s authority.15 Public Reference Room, and http:// Florence E. Harmon, www.nyse.com. Deputy Secretary. [FR Doc. E7–689 Filed 1–18–07; 8:45 am] BILLING CODE 8011–01–P 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 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 12 15 1 15 13 17 2 17 U.S.C. 78s(b)(3)(A)(iii). CFR 240.19b–4(f)(6). 14 NASD has satisfied the five-day pre-filing requirement. VerDate Aug<31>2005 18:10 Jan 18, 2007 Jkt 211001 2577 15 17 PO 00000 CFR 200.30–3(a)(12). Frm 00088 Fmt 4703 Sfmt 4703 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). E:\FR\FM\19JAN1.SGM 19JAN1 2578 Federal Register / Vol. 72, No. 12 / Friday, January 19, 2007 / Notices statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to eliminate, effective January 1, 2007, the exemption from equity trading fees applicable to principal transactions by a member organization in conjunction with ‘‘facilitating’’ a customer order of at least 10,000 shares.5 The elimination of this exemption is consistent with the Exchange’s policy of simplifying its fee structure by eliminating exemptions and implementing a single-tier flat fee structure. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with the objectives of Section 6 of the Act 6 in general and furthers the objectives of Section 6(b)(4) 7 in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees and other charges among its members and other persons using its facilities. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action sroberts on PROD1PC70 with NOTICES The foregoing proposed rule change has become effective upon filing pursuant to Section 19(b)(3)(A) of the Act 8 and Rule 19b–4(f)(2) 9 thereunder because it establishes or changes a due, 5 For this purpose ‘‘facilitating’’ refers to taking the other side of a customer’s order, or acquiring/ liquidating inventory to buy/sell to a customer at an agreed-upon price. 6 15 U.S.C. 78f. 7 15 U.S.C. 78f(b)(4). 8 15 U.S.C. 78s(b)(3)(A). 9 17 CFR 19b–4(f)(2). VerDate Aug<31>2005 18:10 Jan 18, 2007 Jkt 211001 fee, or other charge imposed by the Exchange. 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 No. SR–NYSE–2006–117 on the subject line. Number SR–NYSE–2006–117 and should be submitted on or before February 9, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. 07–139 Filed 1–18–07; 8:45 am] BILLING CODE 8011–01–M SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55109; File No. SR– NYSEArca–2007–05] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change Regarding a Proposed Combination Between NYSE Group, Inc. and Euronext N.V. January 16, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934, as amended, (‘‘Exchange Act’’) 1 and Rule 19b–4 thereunder,2 notice is hereby given that on January 12, 2007, NYSE Paper Comments Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) • Send paper comments in triplicate filed with the Securities and Exchange to Nancy M. Morris, Secretary, Commission (‘‘Commission’’) the Securities and Exchange Commission, proposed rule change as described in 100 F Street, NE., Washington, DC Items I, II, and III below, which Items 20549–1090. have been substantially prepared by the Exchange. The Commission is All submissions should refer to File publishing this notice to solicit Number SR–NYSE–2006–117. This file comments on the proposed rule change number should be included on the subject line if e-mail is used. To help the from interested persons. Commission process and review your I. Self-Regulatory Organization’s comments more efficiently, please use Statement of the Terms of Substance of only one method. The Commission will the Proposed Rule Change post all comments on the Commissions NYSE Arca is submitting the Internet Web site (http://www.sec.gov/ proposed rule change to the rules/sro.shtml). Copies of the Commission in connection with the submission, all subsequent proposed business combination (the amendments, all written statements ‘‘Combination’’) of NYSE Group, Inc., a with respect to the proposed rule Delaware corporation (‘‘NYSE Group’’), change that are filed with the with Euronext N.V., a company Commission, and all written organized under the laws of The communications relating to the Netherlands (‘‘Euronext’’). As a result of proposed rule change between the Commission and any person, other than the Combination, the businesses of NYSE Group (including that of NYSE those that may be withheld from the Arca) and Euronext will be held under public in accordance with the a single, publicly traded holding provisions of 5 U.S.C. 552, will be company named NYSE Euronext, a available for inspection and copying in Delaware corporation (‘‘NYSE the Commission’s Public Reference Room. Copies of such filing also will be Euronext’’). The Combination involves certain modifications to the available for inspection and copying at organizational documents of NYSE the principal office of the NYSE. All Group,3 the current indirect parent comments received will be posted without change; the Commission does 10 17 CFR 200.30–3(a)(12). not edit personal identifying 1 15 U.S.C. 78s(b)(l). information from submissions. You 2 17 CFR 240.19b–4. should submit only information that 3 Upon the consummation of the Combination, you wish to make available publicly. All NYSE Group will be merged with and into Jefferson Merger Sub, Inc. and the name of Jefferson Merger submissions should refer to File PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 E:\FR\FM\19JAN1.SGM 19JAN1

Agencies

[Federal Register Volume 72, Number 12 (Friday, January 19, 2007)]
[Notices]
[Pages 2577-2578]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 07-139]


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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55069; File No. SR-NYSE-2006-117]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectivenes of Proposed Rule Change to 
Eliminate the Exemption from Equity Trading Fees for Principal 
Transactions by a Member Organization ``Facilitating'' a Customer Order 
of at Least 10,000 Shares

January 9, 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 December 22, 2006, the New York Stock Exchange LLC (``Exchange'' or 
``NYSE'') 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 substantially prepared by the 
Exchange. NYSE has designated this proposal as one establishing or 
changing a due, fee, or other charge imposed by NYSE under Section 
19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ 
which renders the proposed rule change 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

    The Exchange proposes to eliminate, effective January 1, 2007, the 
exemption from equity trading fees applicable to principal transactions 
by a member organization in conjunction with ``facilitating'' a 
customer order of at least 10,000 shares.
    The text of the proposed rule change is available at NYSE, the 
Commission's Public Reference Room, and http://www.nyse.com.

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

[[Page 2578]]

statements may be examined at the places specified in Item IV below. 
The Exchange has prepared summaries, set forth in Sections A, B, and C 
below, of the most significant aspects of such statements.

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

1. Purpose
    The Exchange proposes to eliminate, effective January 1, 2007, the 
exemption from equity trading fees applicable to principal transactions 
by a member organization in conjunction with ``facilitating'' a 
customer order of at least 10,000 shares.\5\ The elimination of this 
exemption is consistent with the Exchange's policy of simplifying its 
fee structure by eliminating exemptions and implementing a single-tier 
flat fee structure.
---------------------------------------------------------------------------

    \5\ For this purpose ``facilitating'' refers to taking the other 
side of a customer's order, or acquiring/liquidating inventory to 
buy/sell to a customer at an agreed-upon price.
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with the objectives of Section 6 of the Act \6\ in general and furthers 
the objectives of Section 6(b)(4) \7\ in particular, in that it is 
designed to provide for the equitable allocation of reasonable dues, 
fees and other charges among its members and other persons using its 
facilities.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f.
    \7\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act.

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

    Written comments were neither solicited nor received.

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

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

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission may summarily abrogate such rule change if it 
appears to the Commission that such action is necessary or appropriate 
in the public interest, for the protection of investors, or otherwise 
in furtherance of the purposes of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change is consistent with the Act. Comments may be submitted by any of 
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File No. SR-NYSE-2006-117 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-NYSE-2006-117. 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 Commissions 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 Room. Copies of such filing also will be 
available for inspection and copying at the principal office of the 
NYSE. 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-2006-117 and should be submitted on or before February 9, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

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

Florence E. Harmon,
Deputy Secretary.
[FR Doc. 07-139 Filed 1-18-07; 8:45 am]
BILLING CODE 8011-01-M