Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Network Fee Changes, 8218-8219 [E7-3069]

Download as PDF 8218 Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices 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–DTC–2006–21 on the subject line. Paper Comments SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55289; File No. SR–ISE– 2007–04] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Network Fee Changes February 13, 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 17, 2007, the International Securities Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’) filed with the Securities and Exchange All submissions should refer to File Commission (‘‘Commission’’) the Number SR–DTC–2006–21. This file proposed rule change as described in number should be included on the subject line if e-mail is used. To help the Items I, II, and III below, which Items have been substantially prepared by the Commission process and review your ISE. The ISE has designated this comments more efficiently, please use 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 applicable only to a member under section Internet Web site (http://www.sec.gov/ 19(b)(3)(A)(ii) of the Act,3 and rule 19b– rules/sro.shtml). Copies of the 4(f)(2) thereunder,4 which renders the submission, all subsequent proposal effective upon filing with the amendments, all written statements Commission. The Commission is with respect to the proposed rule publishing this notice to solicit change that are filed with the comments on the proposed rule change Commission, and all written 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 ISE is proposing to amend its provisions of 5 U.S.C. 552, will be Schedule of Fees to adopt a tiered available for inspection and copying in structure for one of the Exchange’s the Commission’s Public Reference network fees. The text of the proposed Section, 100 F Street, NE., Washington, rule change is available at the Exchange, DC 20549. Copies of such filings also the Commission’s Public Reference will be available for inspection and Room, and at http:// copying at the principal office of DTC www.iseoptions.com. and on DTC’s Web site at https:// II. Self-Regulatory Organization’s login.dtcc.com/dtcorg/. All comments received will be posted without change; Statement of the Purpose of, and Statutory Basis for, the Proposed Rule the Commission does not edit personal Change identifying information from submissions. You should submit only In its filing with the Commission, the information that you wish to make ISE included statements concerning the available publicly. All submissions purpose of, and basis for, the proposed should refer to File Number SR–DTC– rule change and discussed any 2006–21 and should be submitted on or comments it received on the proposed before March 16, 2007. rule change. The text of these statements may be examined at the places specified For the Commission by the Division of in item IV below. The ISE has prepared Market Regulation, pursuant to delegated summaries, set forth in sections A, B, authority.10 and C below, of the most significant Florence E. Harmon, aspects of such statements. Deputy Secretary. cprice-sewell on PROD1PC61 with NOTICES • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. [FR Doc. E7–3072 Filed 2–22–07; 8:45 am] BILLING CODE 8010–01–P 10 17 15:07 Feb 22, 2007 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). 2 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 1 15 Jkt 211001 PO 00000 Frm 00070 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 proposed rule change is to amend the Exchange’s Schedule of Fees to adopt a tiered structure for the Ethernet/Managed Service Provider fee charged to members. The Ethernet/Managed Service Provider fee is a fee charged to ISE members to access the ISE’s trading system via an Ethernet connection or a third-party managed service provider. The Ethernet/Managed Service Provider connection carries the same information (such as quotation and trade information) as other forms of connection (such as T–1 and T–3 pointto-point connections) and does not require any changes to the Exchange’s surveillance or communications rules. There is no change to, or impact on, the Exchange’s trading systems as a result of this method of connection. An Ethernet/Managed Service Provider connection enables users to acquire bandwidth in megabit increments. The ISE currently charges members $25.00 per Megabit (MB), and members may purchase up to 15MBs. The Exchange recently launched a new service whereby members will now be able to purchase up to 1000MBs. To bring this network fee in line with the new service, the ISE proposes to establish a new pricing structure for connection speeds. Specifically, the ISE proposes to charge members $100.00 per month for a member’s purchase of up to 10MBs of connection speed, $250.00 per month for the purchase of 11 to 100MBs of connection speed, and $500.00 per month for the purchase of 101MBs to 1GB (1000MBs) of connection speed. These fees will be charged on a per connection basis. As noted above, the Exchange previously limited any connection to a maximum of 15MBs. The Exchange notes that the fees proposed herein are intended to cover and reasonably relate to its costs in rolling out and supporting the new service. 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under section 6(b)(4) 5 that an exchange have an equitable allocation of reasonable dues, fees and other charges among its members and other persons using its facilities. In particular, these fees will enable the Exchange to cover 5 15 E:\FR\FM\23FEN1.SGM U.S.C. 78f(b)(4). 23FEN1 Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices its costs in providing a faster form of connectivity by members to the Exchange. B. Self-Regulatory Organization’s Statement on Burden on Competition The proposed rule change does not 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 not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. 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 6 and paragraph (f) of Rule 19b–4 7 thereunder. 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 For the Commission, by the Division of Market Regulation, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–3069 Filed 2–22–07; 8:45 am] BILLING CODE 8010–01–P 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–ISE–2007–04 on the subject line. Paper Comments cprice-sewell on PROD1PC61 with NOTICES 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 office of the ISE. 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–ISE–2007–04 and should be submitted on or before March 16, 2007. • 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–ISE–2007–04. This file number should be included on the subject line if e-mail is used. To help the SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55288; File No. SR–ISE– 2007–09] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, and Amendment No. 1 Thereto, To Establish Fee Discounts for Its Enhanced Sentiment Market Data Offering February 13, 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 26, 2007, the International Securities Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have 8 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 6 15 U.S.C. 78s(b)(3)(A). 7 17 CFR 19b–4(f). VerDate Aug<31>2005 15:07 Feb 22, 2007 1 15 Jkt 211001 PO 00000 Frm 00071 Fmt 4703 Sfmt 4703 8219 been substantially prepared by the ISE. The Exchange filed the proposal pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(6) thereunder,4 which renders the proposal effective upon filing with the Commission. On February 9, 2007, the Exchange filed Amendment No. 1 to the proposed rule change.5 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 Exchange proposes to amend its Schedule of Fees to adopt a discounted fee for a multi-product subscription of its enhanced sentiment market data offering (‘‘ISEE SelectTM’’). The text of the proposed rule change is available at the Exchange, on the Exchange’s Web site at http://www.iseoptions.com/legal/ proposed_rule_changes.asp, and at the Commission’s Public Reference Room. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item 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 Pursuant to a filing previously approved by the Commission, the Exchange currently sells on a subscription basis, to both members and non-members, ISEE Select.6 ISEE Select 3 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 5 In Amendment No. 1, the Exchange more clearly identifies the text it proposes to add to its Schedule of Fees, adds an explanation of certain of that proposed new language, and clarifies its description of the proposed discount. 6 See Securities Exchange Act Release Nos. 53532 (March 21, 2006), 71 FR 15501 (March 28, 2006) (SR–ISE–2005–56) (Notice of Filing of Proposed Rule Change to Establish Fees for Enhanced Sentiment Market Data); 53756 (May 3, 2006), 71 FR 27526 (May 11, 2006) (SR–ISE–2005–56) (Order Approving Proposed Rule Change to Establish Fees for Enhanced Sentiment Market Data) (‘‘Initial Filing’’). 4 17 E:\FR\FM\23FEN1.SGM 23FEN1

Agencies

[Federal Register Volume 72, Number 36 (Friday, February 23, 2007)]
[Notices]
[Pages 8218-8219]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-3069]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55289; File No. SR-ISE-2007-04]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule 
Change Relating to Network Fee Changes

February 13, 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 17, 2007, the International Securities Exchange, LLC 
(``ISE'' 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 ISE. The ISE has designated this proposal as one 
establishing or changing a due, fee, or other charge applicable only to 
a member 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.
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    \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).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The ISE is proposing to amend its Schedule of Fees to adopt a 
tiered structure for one of the Exchange's network fees. The text of 
the proposed rule change is available at the Exchange, the Commission's 
Public Reference Room, and at http://www.iseoptions.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 ISE 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 ISE 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 proposed rule change is to amend the Exchange's 
Schedule of Fees to adopt a tiered structure for the Ethernet/Managed 
Service Provider fee charged to members.
    The Ethernet/Managed Service Provider fee is a fee charged to ISE 
members to access the ISE's trading system via an Ethernet connection 
or a third-party managed service provider. The Ethernet/Managed Service 
Provider connection carries the same information (such as quotation and 
trade information) as other forms of connection (such as T-1 and T-3 
point-to-point connections) and does not require any changes to the 
Exchange's surveillance or communications rules. There is no change to, 
or impact on, the Exchange's trading systems as a result of this method 
of connection.
    An Ethernet/Managed Service Provider connection enables users to 
acquire bandwidth in megabit increments. The ISE currently charges 
members $25.00 per Megabit (MB), and members may purchase up to 15MBs. 
The Exchange recently launched a new service whereby members will now 
be able to purchase up to 1000MBs. To bring this network fee in line 
with the new service, the ISE proposes to establish a new pricing 
structure for connection speeds. Specifically, the ISE proposes to 
charge members $100.00 per month for a member's purchase of up to 10MBs 
of connection speed, $250.00 per month for the purchase of 11 to 100MBs 
of connection speed, and $500.00 per month for the purchase of 101MBs 
to 1GB (1000MBs) of connection speed. These fees will be charged on a 
per connection basis. As noted above, the Exchange previously limited 
any connection to a maximum of 15MBs. The Exchange notes that the fees 
proposed herein are intended to cover and reasonably relate to its 
costs in rolling out and supporting the new service.
2. Statutory Basis
    The basis under the Act for this proposed rule change is the 
requirement under section 6(b)(4) \5\ that an exchange have an 
equitable allocation of reasonable dues, fees and other charges among 
its members and other persons using its facilities. In particular, 
these fees will enable the Exchange to cover

[[Page 8219]]

its costs in providing a faster form of connectivity by members to the 
Exchange.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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

    The proposed rule change does not 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 not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any unsolicited written comments from members or other interested 
parties.

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 \6\ and paragraph (f) of Rule 19b-4 \7\ 
thereunder. 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.
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    \6\ 15 U.S.C. 78s(b)(3)(A).
    \7\ 17 CFR 19b-4(f).
---------------------------------------------------------------------------

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-ISE-2007-04 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-ISE-2007-04. 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 office of the ISE. 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-ISE-2007-04 and should be submitted on or before March 
16, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-3069 Filed 2-22-07; 8:45 am]
BILLING CODE 8010-01-P