Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Boston Options Exchange Fee Schedule, 5772-5774 [E7-1944]
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Federal Register / Vol. 72, No. 25 / Wednesday, February 7, 2007 / Notices
IV. Solicitation of Comments
of the trading day following the
interruption.25
2. Statutory Basis
The Exchange believes that its
proposal is consistent with Section 6(b)
of the Act 26 in general, and furthers the
objectives of Section 6(b)(5) of the Act 27
in particular, in that it is designed to
promote just and equitable principles of
trade; to foster cooperation and
coordination with persons engaged in
regulating, clearing, settling, processing
information with respect to, and
facilitating transactions in securities; to
remove impediments to and perfect the
mechanism of a free and open market
and a national market system.
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–Amex–2006–118 on the
subject line.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Paper Comments
The Exchange believes that the
proposed rule change would impose no
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
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 comments on this
proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
sroberts on PROD1PC70 with NOTICES
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 Exchange 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 Amex has requested accelerated
approval of the proposed rule change.
The Commission had determined that a
public notice and comment period is
appropriate.
25 If an ETF is traded on the Exchange pursuant
to unlisted trading privileges, the Exchange would
halt trading if the primary listing market halts
trading in such ETF because the Intraday Indicative
Value and/or the index value is not being
disseminated. See Securities Exchange Act Release
No. 55018 (December 28, 2006), 72 FR 1040
(January 9, 2007) (SR Amex–2006–109).
26 15 U.S.C. 78f(b).
27 15 U.S.C. 78f(b)(5).
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For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.28
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–1998 Filed 2–6–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55197; File No. SR–BSE–
2007–02]
Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Amend the
Boston Options Exchange Fee
Schedule
January 30, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on January
22, 2007, the Boston Stock Exchange,
Inc. (‘‘BSE’’ or ‘‘Exchange’’) filed with
All submissions should refer to File
the Securities and Exchange
Number SR–Amex–2006–118. This file
Commission (‘‘Commission’’) the
number should be included on the
proposed rule change as described in
subject line if e-mail is used. To help the
Items I, II, and III below, which Items
Commission process and review your
have been substantially prepared by the
comments more efficiently, please use
BSE. The BSE has designated this
only one method. The Commission will proposal as one establishing or changing
post all comments on the Commission’s a due, fee, or other charge imposed by
Internet Web site (https://www.sec.gov/
the BSE under Section 19(b)(3)(A)(ii) of
rules/sro.shtml). Copies of the
the Act,3 and Rule 19b–4(f)(2)
submission, all subsequent
thereunder,4 which renders the proposal
amendments, all written statements
effective upon filing with the
with respect to the proposed rule
Commission. The Commission is
change that are filed with the
publishing this notice to solicit
Commission, and all written
comments on the proposed rule change
from interested persons.
communications relating to the
proposed rule change between the
I. Self-Regulatory Organization’s
Commission and any person, other than Statement of the Terms of Substance of
those that may be withheld from the
the Proposed Rule Change
public in accordance with the
The Exchange proposes the following
provisions of 5 U.S.C. 552, will be
changes to the Fee Schedule for the
available for inspection and copying in
Boston Options Exchange (‘‘BOX’’). The
the Commission’s Public Reference
first proposed change to the Fee
Room. Copies of such filing also will be
Schedule relates to the Penny Pilot
available for inspection and copying at
Program.5 This proposed change will
the principal office of Amex. All
allow BOX to introduce lower fees for
comments received will be posted
those instruments that are included in
without change; the Commission does
the Penny Pilot Program, which trade in
not edit personal identifying
increments of one cent. The second
information from submissions. You
proposed change is to amend the Fee
should submit only information that
Schedule to permanently eliminate a fee
you wish to make available publicly. All that is currently waived. Finally, the
submissions should refer to File
28 17 CFR 200.30–3(a)(12).
Number SR–Amex–2006–118 and
1 15 U.S.C. 78s(b)(1).
should be submitted on or before
2 17 CFR 240.19b–4.
February 22, 2007.
3
PO 00000
15 U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
5 See Securities Exchange Release No. 54789
(November 20, 2006), 71 FR 68654 (November 27,
2006) (SR–BSE–2006–49).
4 17
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E:\FR\FM\07FEN1.SGM
07FEN1
Federal Register / Vol. 72, No. 25 / Wednesday, February 7, 2007 / Notices
Exchange proposes to amend the
Minimum Activity Charge (‘‘MAC’’)
contained in the BOX Fee Schedule.
The proposed change is to account for
the effect that current market conditions
have had on the MAC. The text of the
proposed rule change is available at the
BSE, the Commission’s Public Reference
Room, and https://
www.bostonstock.com/legal/filings/07–
02.pdf.
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
BSE 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 BSE 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 the following
changes to the BOX Fee Schedule. The
first proposed change to the Fee
Schedule relates to the Penny Pilot
Program. This proposed change will
allow BOX to introduce lower fees for
those instruments that are included in
the Penny Pilot Program, which trade in
increments of one cent. The second
proposed change is to amend the Fee
Schedule to permanently eliminate a fee
that is currently waived. Finally, the
Exchange proposes to amend the MAC
contained in the BOX Fee Schedule.
The proposed change is to account for
the effect that current market conditions
have had on the MAC. The three
proposed changes to the Fee Schedule
are discussed in further detail below.
sroberts on PROD1PC70 with NOTICES
(a) Reduction in Fees Related to the
Penny Pilot Program
The Exchange is proposing to lower
fees for those instruments that are
included in the Penny Pilot Program,
which trade in increments of one cent.
This proposed change will reduce the
trading fees for those instruments from
the standard trading fee of $0.20 per
contract traded to a fee of $0.15 per
contract traded. BOX believes that this
reduction in fees will encourage trading
for those classes traded in the Penny
Pilot Program.
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21:36 Feb 06, 2007
Jkt 211001
(b) Removal of Fee Which is No Longer
Charged
BOX does not currently charge the
$0.40 per contract fee for contracts for
Broker Dealer Proprietary Accounts and
Market Makers traded against an order
the Trading Host filters to prevent
trading through the NBBO. BOX
proposes to delete the charge from the
BOX Fee Schedule to conform the Fee
Schedule to reflect BOX’s current
practice. The proposed change will
accurately reflect the charges that BOX
levies on its Participants.6
(c) Changes to the MAC
Recent increases in options trading
have resulted in many BOX listed
classes to be reclassified into higher
MAC categories. BOX is seeking to
amend its existing MAC program to
provide uniform fee relief to its
Participants. The proposed change alters
the month in which the MAC
reclassifications are calculated from
January to July. The changes to the MAC
program are being proposed to prevent
unnecessary fee increases for BOX
Participants.7 Moving the month of
reclassification to July will afford BOX
the opportunity to keep the current
MAC classifications the same for an
additional six months, thus keeping fees
to Participants the same.8 No changes
are being sought to alter the
fundamental structure of the existing
program.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with the
requirements of Section 6(b) of the Act,9
in general, and Section 6(b)(4) of the
Act,10 in particular, which requires that
an exchange provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members and
issuers 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
6 The Exchange clarified that the $0.40 per
contract fee is being deleted from the Fee Schedule
because BOX has been waiving the fee for Broker
Dealer Proprietary Accounts and Market Makers.
Telephone conference between Lisa Fall, General
Counsel, BOX; Brian Donnelly, Assistant Vice
President, Regulation and Compliance, BSE; David
Liu, Senior Special Counsel, Commission; and Jan
Woo, Attorney, Commission, on January 26, 2007.
7 The Exchange clarified that moving the
reclassification to July may provide relief to BOX
Participants for six months. Id.
8 Id.
9 15 U.S.C. 78f(b).
10 15 U.S.C. 78f(b)(4).
PO 00000
Frm 00099
Fmt 4703
Sfmt 4703
5773
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
The Exchange has neither solicited
nor received comments on the proposed
rule change.
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)
of the Act 11 and Rule 19b–4(f)(2) 12
thereunder because it changes a fee
imposed by the Exchange. 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.
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
No. SR–BSE–2007–02 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–BSE–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
11 15
12 17
E:\FR\FM\07FEN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 19b–4(f)(2).
07FEN1
5774
Federal Register / Vol. 72, No. 25 / Wednesday, February 7, 2007 / Notices
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 BSE. 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–2007–02 and should
be submitted on or before February 28,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–1944 Filed 2–6–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55217; File No. SR–FICC–
2006–16]
Self-Regulatory Organizations; The
Fixed Income Clearing Corporation;
Order Approving Proposed Rule
Change To Replace the Government
Securities Division Clearing Fund
Calculation Methodology With a YieldDriven Value-at-Risk Methodology
January 31, 2007.
I. Introduction
On October 4, 2006, the Fixed Income
Clearing Corporation (‘‘FICC’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’) and on
November 14, 2006, amended proposed
rule change SR–FICC–2006–16 pursuant
to Section 19(b)(1) of the Securities
Exchange Act of 1934 (‘‘Act’’).1 Notice
of the proposal was published in the
Federal Register on December 27,
2006.2 The Commission received no
comment letters in response to the
proposed rule change. For the reasons
discussed below, the Commission is
approving the proposed rule change.
II. Description
FICC seeks to replace the Government
Securities Division (‘‘GSD’’) margin
calculation methodology with a valueat-risk (‘‘VaR’’) methodology.
Netting members of FICC’s GSD are
required to maintain clearing fund
deposits. Each member’s required
clearing fund deposit is calculated daily
to ensure that enough funds are
available to cover the risks associated
with that member’s activities. The
purposes served by the clearing fund are
to: (i) Have on deposit at FICC funds
from each member sufficient to satisfy
any losses that may be incurred by FICC
or its members resulting from the
default by a member and the resultant
close out of that member’s settlement
positions and (ii) ensure that FICC has
sufficient liquidity at all times to meet
its payment and delivery obligations.
FICC proposes to replace the current
clearing fund methodology used at GSD,
which uses haircuts and offsets, with a
yield-driven VaR methodology that is
expected to better reflect market
volatility and more thoroughly
distinguish the levels of risk presented
by individual securities. VaR is defined
to be the maximum amount of money
that may be lost on a portfolio over a
given period of time within a given level
of confidence. With respect to the GSD,
FICC will use a 99 percent three-day
VaR.3
The changes to the components that
comprise the current clearing fund
methodology compared to the proposed
VaR methodology in relation to the risks
addressed by the components are
summarized below.
Existing methodology
Risk addressed
Proposed methodology 4
Receive/Deliver component using margin factors.
Repo Volatility component .................................
Funds Adjustment Deposit component (based
on the average size of the member’s 20 highest funds-only settlement amounts over the
most recent 75 business days).
Average Post Offset Margin Amount component
(based on the 20 highest margin amounts
derived from all outstanding net settlement
positions over the most recent 75 business
days).
Not specifically covered .....................................
Fluctuation in security prices ...........................
Interest rate or index-driven model, as appropriate.5
Repo index-driven model.6
Margin Requirement Differential (‘‘MRD’’) (a
portion of which is based on the historical
size of a member’s funds-only settlement
obligation).
MRD (a portion of which is based on the historical variability of a member’s clearing
fund requirement).
13 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 Securities Exchange Act Release No. 54964
(December 19, 2006), 71 FR 77835 (SR–FICC–2006–
16).
3 Category 2 Dealers and Category 2 Futures
Commission Merchants will be subject to higher
confidence levels than other Netting Members.
4 Under the current GSD rules, Category 1 InterDealer Brokers are subject to a flat $5 million
sroberts on PROD1PC70 with NOTICES
1 15
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Jkt 211001
Fluctuation in repo interest rates .....................
Uncertainty of whether a member will satisfy
its funds-only settlement obligation.
Uncertainty of whether a member will satisfy
its next clearing fund call.
Intraday risk and additional exposure due to
portfolio variation and potential loss in unlikely situations beyond the model’s effective range.
clearing fund requirement. This proposed rule
change does not alter that requirement.
5 FICC will have the discretion to not apply the
interest rate model to classes of securities whose
volatility is less amenable to statistical analysis,
which is usually due to a lack of pricing history.
In lieu of such a calculation, the required charge
with respect to such positions will be determined
based on a historic index volatility model.
6 FICC is adopting a new definition for ‘‘Term
Repo Transaction’’ to clarify the types of
PO 00000
Frm 00100
Fmt 4703
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Coverage Component (if necessary, applies
additional minimum charge to bring coverage to the applicable confidence level).
transactions covered by this component. As
proposed, Term Repo Transaction will mean, on
any particular Business Day, a Repo Transaction for
which settlement of the Close Leg ‘‘is scheduled to
occur two or more Business Days after the
scheduled settlement of the Start Leg.’’ In addition,
the existing definition for ‘‘Term GCF Repo
Transaction’’ is being revised to conform to the
language for ‘‘Term Repo Transaction’’ as the new
definition provides greater clarity as to transactions
covered.
E:\FR\FM\07FEN1.SGM
07FEN1
]]>Agencies
[Federal Register Volume 72, Number 25 (Wednesday, February 7, 2007)]
[Notices]
[Pages 5772-5774]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-1944]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55197; File No. SR-BSE-2007-02]
Self-Regulatory Organizations; Boston Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Amend the Boston Options Exchange Fee Schedule
January 30, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on January 22, 2007, the Boston Stock Exchange, Inc. (``BSE'' 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 substantially prepared by the BSE.
The BSE has designated this proposal as one establishing or changing a
due, fee, or other charge imposed by the BSE under Section
19(b)(3)(A)(ii) of the Act,\3\ and Rule 19b-4(f)(2) thereunder,\4\
which renders the proposal 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 the following changes to the Fee Schedule for
the Boston Options Exchange (``BOX''). The first proposed change to the
Fee Schedule relates to the Penny Pilot Program.\5\ This proposed
change will allow BOX to introduce lower fees for those instruments
that are included in the Penny Pilot Program, which trade in increments
of one cent. The second proposed change is to amend the Fee Schedule to
permanently eliminate a fee that is currently waived. Finally, the
[[Page 5773]]
Exchange proposes to amend the Minimum Activity Charge (``MAC'')
contained in the BOX Fee Schedule. The proposed change is to account
for the effect that current market conditions have had on the MAC. The
text of the proposed rule change is available at the BSE, the
Commission's Public Reference Room, and https://www.bostonstock.com/
legal/filings/07-02.pdf.
---------------------------------------------------------------------------
\5\ See Securities Exchange Release No. 54789 (November 20,
2006), 71 FR 68654 (November 27, 2006) (SR-BSE-2006-49).
---------------------------------------------------------------------------
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 BSE 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 BSE 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 the following changes to the BOX Fee
Schedule. The first proposed change to the Fee Schedule relates to the
Penny Pilot Program. This proposed change will allow BOX to introduce
lower fees for those instruments that are included in the Penny Pilot
Program, which trade in increments of one cent. The second proposed
change is to amend the Fee Schedule to permanently eliminate a fee that
is currently waived. Finally, the Exchange proposes to amend the MAC
contained in the BOX Fee Schedule. The proposed change is to account
for the effect that current market conditions have had on the MAC. The
three proposed changes to the Fee Schedule are discussed in further
detail below.
(a) Reduction in Fees Related to the Penny Pilot Program
The Exchange is proposing to lower fees for those instruments that
are included in the Penny Pilot Program, which trade in increments of
one cent. This proposed change will reduce the trading fees for those
instruments from the standard trading fee of $0.20 per contract traded
to a fee of $0.15 per contract traded. BOX believes that this reduction
in fees will encourage trading for those classes traded in the Penny
Pilot Program.
(b) Removal of Fee Which is No Longer Charged
BOX does not currently charge the $0.40 per contract fee for
contracts for Broker Dealer Proprietary Accounts and Market Makers
traded against an order the Trading Host filters to prevent trading
through the NBBO. BOX proposes to delete the charge from the BOX Fee
Schedule to conform the Fee Schedule to reflect BOX's current practice.
The proposed change will accurately reflect the charges that BOX levies
on its Participants.\6\
---------------------------------------------------------------------------
\6\ The Exchange clarified that the $0.40 per contract fee is
being deleted from the Fee Schedule because BOX has been waiving the
fee for Broker Dealer Proprietary Accounts and Market Makers.
Telephone conference between Lisa Fall, General Counsel, BOX; Brian
Donnelly, Assistant Vice President, Regulation and Compliance, BSE;
David Liu, Senior Special Counsel, Commission; and Jan Woo,
Attorney, Commission, on January 26, 2007.
---------------------------------------------------------------------------
(c) Changes to the MAC
Recent increases in options trading have resulted in many BOX
listed classes to be reclassified into higher MAC categories. BOX is
seeking to amend its existing MAC program to provide uniform fee relief
to its Participants. The proposed change alters the month in which the
MAC reclassifications are calculated from January to July. The changes
to the MAC program are being proposed to prevent unnecessary fee
increases for BOX Participants.\7\ Moving the month of reclassification
to July will afford BOX the opportunity to keep the current MAC
classifications the same for an additional six months, thus keeping
fees to Participants the same.\8\ No changes are being sought to alter
the fundamental structure of the existing program.
---------------------------------------------------------------------------
\7\ The Exchange clarified that moving the reclassification to
July may provide relief to BOX Participants for six months. Id.
\8\ Id.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposal is consistent with the
requirements of Section 6(b) of the Act,\9\ in general, and Section
6(b)(4) of the Act,\10\ in particular, which requires that an exchange
provide for the equitable allocation of reasonable dues, fees, and
other charges among its members and issuers and other persons using its
facilities.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b).
\10\ 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
The Exchange has neither solicited nor received comments on the
proposed rule change.
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) of the Act \11\ and Rule 19b-4(f)(2) \12\ thereunder
because it changes a fee imposed by the Exchange. 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.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78s(b)(3)(A).
\12\ 17 CFR 19b-4(f)(2).
---------------------------------------------------------------------------
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 No. SR-BSE-2007-02 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-BSE-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
[[Page 5774]]
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 BSE. 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-2007-02 and should be
submitted on or before February 28, 2007.
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\13\ 17 CFR 200.30-3(a)(12).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\13\
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-1944 Filed 2-6-07; 8:45 am]
BILLING CODE 8010-01-P
