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]

Download as PDF 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 http://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 (http://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 (http://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 http://www.sba.gov/nac/index.html. 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 http://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 (http://
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 (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 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