Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to Fees for U.S. Dollar-Settled Foreign Currency Options, 3900-3901 [E7-1181]
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3900
Federal Register / Vol. 72, No. 17 / Friday, January 26, 2007 / Notices
amended Rule 12. The NYSE
Arbitration Rules have previously been
approved by the Commission.8
After careful consideration, the
Commission finds good cause, pursuant
to Section 19(b)(2) of the Act,9 for
approving the proposed rule change
prior to the thirtieth day after the date
of publication of notice in the Federal
Register. Granting accelerated approval
will help to expedite the integration of
NYSE and NYSE Arca and remove
uncertainty that could arise through the
application of multiple sets of rules
governing arbitrations with the NYSE
forum. Accordingly, the Commission
believes that there is good cause,
consistent with Section 6(b)(5) of the
Act,10 to approve the proposal on an
accelerated basis.
V. Conclusion
It is therefore ordered, pursuant to
Section 19(b)(2) of the Act,11 that the
proposed rule change (SR-NYSEArca2006–54), as amended by Amendments
1 and 2, is hereby approved on an
accelerated basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–1186 Filed 1–25–07; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55126; File No. SR–Phlx–
2007–02]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change and Amendment No. 1 Thereto
Relating to Fees for U.S. Dollar-Settled
Foreign Currency Options
January 18, 2007.
sroberts on PROD1PC70 with NOTICES
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 January 4,
2007, the Philadelphia Stock Exchange,
Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
8 See
600 Series of the NYSE Rules.
U.S.C. 78s(b)(2).
10 15 U.S.C. 78f(b)(5).
11 15 U.S.C. 78s(b)(2).
12 17 CFR 200.30–3(a)(12)
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
9 15
VerDate Aug<31>2005
17:19 Jan 25, 2007
Jkt 211001
have been prepared substantially by the
Phlx. The Phlx submitted the proposed
rule change under Section 19(b)(3)(A) of
the Act 3 and Rule 19b–4(f)(2)
thereunder,4 which renders the proposal
effective upon filing with the
Commission.5 On January 11, 2007, the
Exchange filed Amendment No. 1 to the
proposed rule change.6 The Commission
is publishing this notice to solicit
comments on the proposed rule change,
as amended, from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Phlx proposes to assess the same
charges that are assessed on index
options on all U.S. dollar-settled foreign
currency options (‘‘FCOs’’). The
Exchange also proposes to delete the
words ‘‘dollar or foreign currency
based,’’ which appear under the heading
‘‘Summary of Currency Option Charges’’
and to make other related clarifying
changes to its Summary of Currency
Option Charges.
This proposal is scheduled to become
effective upon the launch of trading of
U.S. dollar-settled FCOs by the
Exchange.7
The text of the proposed rule change
is available at the Phlx, the
Commission’s Public Reference Room,
and https://www.phlx.com/exchange/
phlx_rule_fil.html.
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
Phlx 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. The Phlx has prepared
summaries, set forth in Sections A, B,
and C below, of the most significant
aspects of such statements.
15 U.S.C. 78s(b)(3)(A).
17 CFR 240.19b–4(f)(2).
5 The Phlx stipulated the implementation date to
be January 8, 2007.
6 See Form 19b–4 dated January 11, 2007
(‘‘Amendment No. 1’’).
7 The Commission recently issued a release
approving a proposed rule change filed by the
Exchange to list certain U.S. dollar-settled FCOs
and to adopt rules and rule amendments to permit
the trading of U.S. dollar-settled FCOs on the
Exchange’s electronic trading platform for options,
Phlx XL. See Securities Exchange Act Release No.
54989 (December 21, 2006), 71 FR 78506 (December
29, 2006) (SR–Phlx–2006–34). The Exchange
launched trading of U.S. dollar-settled FCOs on
January 8, 2007.
3
4
PO 00000
Frm 00122
Fmt 4703
Sfmt 4703
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of this proposal is to
adopt a fee schedule for U.S. dollarsettled FCOs. The Exchange proposes to
amend its Summary of Index Option
Charges fee schedule to include U.S.
dollar-settled FCOs, which are not index
options but which have trading features
similar to index options, so that the
Exchange will assess charges on these
products in the same manner that it
charges for index options. In addition,
the Exchange proposes to list the
symbols of U.S. dollar-settled FCOs on
its Summary of Index Option Charges.
The Exchange believes that the fees set
forth in its current Summary of Index
Option Charges fee schedule reflect the
value of U.S. dollar-settled FCOs as new
investment vehicles.
The Exchange also proposes to amend
its Summary of Currency Option
Charges, which will apply to the
Exchange’s currency products, but not
U.S. dollar-settled FCOs described
above. The purpose of deleting the
words ‘‘dollar or foreign currency
based,’’ which appear under the heading
‘‘Summary of Currency Option Charges’’
is to avoid confusion with U.S. dollarsettled FCOs as set forth in this
proposal. The Exchange proposes,
therefore, to state on its Summary of
Currency Option Charges that U.S.
dollar-settled FCOs are subject to a
separate fee schedule.
2. Statutory Basis
The Exchange believes that its
proposal to amend its schedule of fees
is consistent with Section 6(b) of the
Act 8 in general, and furthers the
objectives of Section 6(b)(4) of the Act 9
in particular, in that it is an equitable
allocation of reasonable fees and other
charges among Exchange members.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Phlx 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.
8
9
15 U.S.C. 78f(b).
15 U.S.C. 78f(b)(4).
E:\FR\FM\26JAN1.SGM
26JAN1
Federal Register / Vol. 72, No. 17 / Friday, January 26, 2007 / Notices
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section
19(b)(3)(A)(ii) of the Act 10 and
paragraph (f)(2) of Rule 19b–4 11
thereunder. 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.12
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–Phlx–2007–02 on the
subject line.
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 offices of the Phlx. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–Phlx–2007–02 and should
be submitted on or before February 16,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–1181 Filed 1–25–07; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
Reporting and Recordkeeping
Requirements Under OMB Review
Small Business Administration.
Notice of Reporting
Requirements Submitted for OMB
Review.
AGENCY:
ACTION:
SUMMARY: Under the provisions of the
Paperwork Reduction Act (44 U.S.C.
Chapter 35), agencies are required to
• Send paper comments in triplicate
submit proposed reporting and
to Nancy M. Morris, Secretary,
recordkeeping requirements to OMB for
Securities and Exchange Commission,
review and approval, and to publish a
100 F Street, NE, Washington, DC
notice in the Federal Register notifying
20549–1090.
the public that the agency has made
All submissions should refer to File
such a submission.
Number SR–Phlx–2007–02. This file
DATES: Submit comments on or before
number should be included on the
subject line if e-mail is used. To help the February 26, 2007. If you intend to
comment but cannot prepare comments
Commission process and review your
promptly, please advise the OMB
comments more efficiently, please use
only one method. The Commission will Reviewer and the Agency Clearance
post all comments on the Commission’s Officer before the deadline.
Copies: Request for clearance (OMB
Internet Web site (https://www.sec.gov/
83–1), supporting statement, and other
rules/sro.shtml). Copies of the
documents submitted to OMB for
submission, all subsequent
review may be obtained from the
amendments, all written statements
Agency Clearance Officer.
with respect to the proposed rule
ADDRESSES: Address all comments
change that are filed with the
concerning this notice to: Agency
Commission, and all written
Clearance Officer, Jacqueline White,
communications relating to the
Small Business Administration, 409 3rd
proposed rule change between the
Commission and any person, other than Street, SW., 5th Floor, Washington, DC.
20416; and
those that may be withheld from the
David_Rostker@omb.eop.gov, fax
public in accordance with the
number 202–395–7285 Office of
provisions of 5 U.S.C. 552, will be
Information and Regulatory Affairs,
10 15 U.S.C. 78s(b)(3)(A)(ii).
Office of Management and Budget.
11 17 CFR 240.19b–4(f)(2).
FOR FURTHER INFORMATION CONTACT:
12 For the purposes of calculating the 60-day
Jacqueline White, Agency Clearance
abrogation period, the Commission considers the
sroberts on PROD1PC70 with NOTICES
Paper Comments
proposed rule change to have been filed on January
11, 2007, when Amendment No. 1 was filed.
VerDate Aug<31>2005
17:19 Jan 25, 2007
Jkt 211001
13
PO 00000
17 CFR 200.30–3(a)(12).
Frm 00123
Fmt 4703
Sfmt 4703
3901
Officer, jacqueline.white@sba.gov (202)
205–7044.
SUPPLEMENTARY INFORMATION:
Title: Surety Bond Guarantee
Assistance.
Form No’s: 990, 991, 994, 994B, 994F,
and 994H.
Frequency: On Occasion.
Description of Respondents: Surety
Bond Companies.
Annual Responses: 16,271.
Annual Burden: 2012.
Jacqueline White,
Chief, Administrative Information Branch.
[FR Doc. E7–1256 Filed 1–25–07; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
National Advisory Council Public
Meeting
The U.S. Small Business
Administration (SBA) National
Advisory Council (NAC) will hold a
public meeting on Tuesday, February
27, 2007 at 2 p.m. The meeting will take
place using an audio/web conference
system. To participate, please call our
toll free conferencing service at 1–866–
740–1260 and enter access code
3711001 at the prompt. The purpose of
the meeting is to provide and discuss
recent updates pertaining to the delivery
of the Agency’s programs and services.
Information will be presented by the
staff of the SBA, members of the council
or interested others.
Anyone wishing to attend or to make
a presentation must contact Mina Wales
in writing, phone or e-mail in order to
put on the agenda. Mina Wales, NAC
Designated Federal Officer, SBA
Headquarters, 409 3rd Street, SW.,
Washington, DC 20416, phone (202)
205–8414, e-mail: mina.wales@sba.gov.
For more information about the National
Advisory Council, see our Web site at
https://www.sba.gov/nac/.
Matthew Teague,
Committee Management Officer.
[FR Doc. E7–1258 Filed 1–25–07; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
National Small Business Development
Center Advisory Board Public Meeting
The U.S. Small Business
Administration (SBA), National Small
Business Development Center (SBDC)
Advisory Board will hold a public
annual spring meeting on Monday,
March 5, 2007, starting at 11 a.m. until
4 p.m. (EST). The meeting will take
E:\FR\FM\26JAN1.SGM
26JAN1
]]>Agencies
[Federal Register Volume 72, Number 17 (Friday, January 26, 2007)]
[Notices]
[Pages 3900-3901]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-1181]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55126; File No. SR-Phlx-2007-02]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
and Amendment No. 1 Thereto Relating to Fees for U.S. Dollar-Settled
Foreign Currency Options
January 18, 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 January 4, 2007, the Philadelphia Stock Exchange, Inc. (``Phlx'' or
``Exchange'') 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 substantially by the
Phlx. The Phlx submitted the proposed rule change under Section
19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ which
renders the proposal effective upon filing with the Commission.\5\ On
January 11, 2007, the Exchange filed Amendment No. 1 to the proposed
rule change.\6\ The Commission is publishing this notice to solicit
comments on the proposed rule change, as amended, 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).
\4\ 17 CFR 240.19b-4(f)(2).
\5\ The Phlx stipulated the implementation date to be January 8,
2007.
\6\ See Form 19b-4 dated January 11, 2007 (``Amendment No. 1'').
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Phlx proposes to assess the same charges that are assessed on
index options on all U.S. dollar-settled foreign currency options
(``FCOs''). The Exchange also proposes to delete the words ``dollar or
foreign currency based,'' which appear under the heading ``Summary of
Currency Option Charges'' and to make other related clarifying changes
to its Summary of Currency Option Charges.
This proposal is scheduled to become effective upon the launch of
trading of U.S. dollar-settled FCOs by the Exchange.\7\
---------------------------------------------------------------------------
\7\ The Commission recently issued a release approving a
proposed rule change filed by the Exchange to list certain U.S.
dollar-settled FCOs and to adopt rules and rule amendments to permit
the trading of U.S. dollar-settled FCOs on the Exchange's electronic
trading platform for options, Phlx XL. See Securities Exchange Act
Release No. 54989 (December 21, 2006), 71 FR 78506 (December 29,
2006) (SR-Phlx-2006-34). The Exchange launched trading of U.S.
dollar-settled FCOs on January 8, 2007.
---------------------------------------------------------------------------
The text of the proposed rule change is available at the Phlx, the
Commission's Public Reference Room, and https://www.phlx.com/exchange/
phlx_rule_fil.html.
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 Phlx 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. The Phlx 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 purpose of this proposal is to adopt a fee schedule for U.S.
dollar-settled FCOs. The Exchange proposes to amend its Summary of
Index Option Charges fee schedule to include U.S. dollar-settled FCOs,
which are not index options but which have trading features similar to
index options, so that the Exchange will assess charges on these
products in the same manner that it charges for index options. In
addition, the Exchange proposes to list the symbols of U.S. dollar-
settled FCOs on its Summary of Index Option Charges. The Exchange
believes that the fees set forth in its current Summary of Index Option
Charges fee schedule reflect the value of U.S. dollar-settled FCOs as
new investment vehicles.
The Exchange also proposes to amend its Summary of Currency Option
Charges, which will apply to the Exchange's currency products, but not
U.S. dollar-settled FCOs described above. The purpose of deleting the
words ``dollar or foreign currency based,'' which appear under the
heading ``Summary of Currency Option Charges'' is to avoid confusion
with U.S. dollar-settled FCOs as set forth in this proposal. The
Exchange proposes, therefore, to state on its Summary of Currency
Option Charges that U.S. dollar-settled FCOs are subject to a separate
fee schedule.
2. Statutory Basis
The Exchange believes that its proposal to amend its schedule of
fees is consistent with Section 6(b) of the Act \8\ in general, and
furthers the objectives of Section 6(b)(4) of the Act \9\ in
particular, in that it is an equitable allocation of reasonable fees
and other charges among Exchange members.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Phlx 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.
[[Page 3901]]
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act \10\ and paragraph (f)(2) of Rule 19b-4 \11\
thereunder. 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.\12\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A)(ii).
\11\ 17 CFR 240.19b-4(f)(2).
\12\ For the purposes of calculating the 60-day abrogation
period, the Commission considers the proposed rule change to have
been filed on January 11, 2007, when Amendment No. 1 was filed.
---------------------------------------------------------------------------
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-Phlx-2007-02 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-Phlx-2007-02. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal offices of the Phlx. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-Phlx-2007-02 and should be submitted on or before
February 16, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-1181 Filed 1-25-07; 8:45 am]
BILLING CODE 8011-01-P
