Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Approval of Proposed Rule Change Relating to Amendments to Registration Rules of NYSE Arca, Inc, 13155-13156 [E7-4974]

Download as PDF Federal Register / Vol. 72, No. 53 / Tuesday, March 20, 2007 / Notices 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–NASD–2007–013. 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 office of NASD. 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–NASD–2007–013 and should be submitted on or before April 10, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.20 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4973 Filed 3–19–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55446; File No. SR– NYSEArca-2006–51] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Approval of Proposed Rule Change Relating to Amendments to Registration Rules of NYSE Arca, Inc March 12, 2007. I. Introduction On November 14, 2006, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change relating to amendments to registration rules of the Exchange. NYSE Arca filed Amendment No. 1 to the proposed rule change on January 12, 2007. The proposed rule change, as amended, was published for comment in the Federal Register on February 7, 2007.3 The Commission received no comments on the proposal. This order approves the proposed rule change, as amended. II. Description of the Proposal The Exchange proposed to amend certain NYSE Arca Rules governing registration procedures and ongoing compliance obligations for Options Trading Permit (‘‘OTP’’) Holders 4 and employees of OTP Firms 5 in order to (i) clarify registration procedures and make them consistent with the procedures of other self-regulatory organizations (‘‘SROs’’) and with the operation of the Central Registration Depository (‘‘CRD’’) system maintained by the National Association of Securities Dealers, Inc. (‘‘NASD’’) and (ii) include an additional registration category in connection with the Exchange’s new options trading platform, OX.6 Specifically, the Exchange proposed to amend Rule 2.5(b)(10)(A) to provide for a new category, the Market Maker Authorized Trader, for individuals who perform market making activity on behalf of an OTP Firm on the OX trading facility. The amendment to that Rule also includes certain exceptions to the examination requirements. The 1 15 U.S.C. 78s(b)(l). CFR 240.19b–4. 3 See Securities Exchange Act Release No. 55215 (January 31, 2007), 72 FR 5783 (February 7, 2007). 4 See NYSE Arca Rule 1.1(q). 5 See NYSE Arca Rule 1.1(r). 6 See Securities Exchange Act Release No. 54238 (July 28, 2006), 71 FR 44758 (August 7, 2006) (SR– NYSEArca–2006–13). pwalker on PROD1PC71 with NOTICES 2 17 20 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 15:08 Mar 19, 2007 Jkt 211001 PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 13155 Exchange also proposed to amend Rule 2.5(c), its waiver standards, so that the Exchange’s practices are generally consistent with the criterion in NASD Rule 1070(d) and Supplementary Material .15(1)(b) to NYSE Rule 345. The Exchange also proposed to amend Rule 2.23 to provide manual registration procedures for registration categories (e.g., floor clerk) for which CRD does not provide electronic registration. In addition, the Exchange is consolidating its continuing education requirements in paragraph (d) of Rule 2.23 and deleting the continuing education requirements in Rule 9.27(c) and (d) to avoid needless repetition and risk of inconsistencies. Finally, the Exchange proposes to amend Rules 6.33 and 6.34A(b)(2) to require Market Maker and Market Maker Authorized Trader applicants who have previously successfully completed the required examination but who have not been registered with the Exchange for six months or more to complete an orientation program prescribed by the Exchange. III. Discussion and Commission Findings The Commission has reviewed carefully the proposed rule change and finds that it is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.7 In particular, the Commission finds that the proposed rule change is consistent with Section 6(b)(5) of the Act,8 which, among other things, requires that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest. The Commission believes that clarifying the registration procedures and ongoing compliance obligations and making the registration procedures consistent with the procedures of the other SROs will benefit OTP Holders and employees of OTP Firms by making the registration process easier and more efficient. Furthermore, amending Exchange rules to be generally consistent with the rules of other SROs, market practices, and the operation of 7 In approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 8 15 U.S.C. 78f(b)(5). E:\FR\FM\20MRN1.SGM 20MRN1 13156 Federal Register / Vol. 72, No. 53 / Tuesday, March 20, 2007 / Notices the CRD should help simplify the procedures and administrative matters for OTP Holders and employees of OTP Firms. Finally, the Commission believes that requiring Market Makers and Market Maker Authorized Traders to attend an orientation session when such persons have not been employed in those capacities for six months or more will be beneficial to those persons, the Exchange, and the investing public. IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,9 that the proposed rule change (SR–NYSEArca2006–51), as amended, be, and hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4974 Filed 3–19–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55447; File No. SR– NYSEArca–2006–50] Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Approval of Proposed Rule Change Relating to Amendments to Registration Rules of NYSE Arca Equities, Inc. March 12, 2007. I. Introduction pwalker on PROD1PC71 with NOTICES On November 14, 2006, NYSE Arca, Inc. (‘‘NYSE Arca’’ or ‘‘Exchange’’), through its wholly owned subsidiary NYSE Arca Equities, Inc. (‘‘NYSE Arca Equities’’ or ‘‘Corporation’’), filed with the Securities and Exchange Commission (‘‘Commission’’) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 a proposed rule change relating to amendments to registration rules of the Corporation. NYSE Arca filed Amendment No. 1 to the proposed rule change on January 12, 2007. The proposed rule change, as amended, was published for comment in the Federal Register on February 7, 2007.3 The Commission received no comments on the proposal. This order 9 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(l). 2 17 CFR 240.19b–4. 3 See Securities Exchange Act Release No. 55214 (January 31, 2007), 72 FR 5780 (February 7, 2007). 10 17 VerDate Aug<31>2005 15:08 Mar 19, 2007 Jkt 211001 approves the proposed rule change, as amended. II. Description of the Proposal The Exchange, through its wholly owned subsidiary NYSE Arca Equities, proposed to amend certain NYSE Arca Equities Rules governing registration procedures and ongoing compliance obligations for Equity Trading Permit (‘‘ETP’’) Holders 4 and their registered persons in order to clarify registration procedures and make them consistent with the procedures of other selfregulatory organizations (‘‘SROs’’) and with the operation of the Central Registration Depository (‘‘CRD’’) system maintained by the National Association of Securities Dealers, Inc. (‘‘NASD’’). Specifically, the Exchange proposed to amend Rule 2.4(c), its waiver standards, so that the Exchange’s practices are generally consistent with the criterion in NASD Rule 1070(d) and Supplementary Material .15(1)(b) to NYSE Rule 345. The Exchange also proposed to amend Rule 2.21 to provide manual registration procedures for registration categories (e.g., floor clerk) for which CRD does not provide electronic registration. In addition, the Exchange is consolidating its continuing education requirements in Rule 2.21(d) and deleting the continuing education requirements in Rule 9.27(c) and (d) to avoid needless repetition and risk of inconsistencies. III. Discussion and Commission Findings The Commission has reviewed carefully the proposed rule change and finds that it is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange.5 In particular, the Commission finds that the proposed rule change is consistent with Section 6(b)(5) of the Act,6 which, among other things, requires that the rules of a national securities exchange be designed to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest. The Commission believes that clarifying the registration procedures 4 See NYSE Arca Equities Rule 1.1(n). approving this proposed rule change, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b)(5). 5 In PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 and ongoing compliance obligations and making the registration procedures consistent with the procedures of the other SROs will benefit ETP Holders and their registered persons by making the registration process easier and more efficient. Furthermore, amending Exchange rules to be generally consistent with other SROs’ rules, market practices, and the operation of the CRD should help simplify such procedures and administrative matters for ETP Holders and their registered persons. IV. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act,7 that the proposed rule change (SR–NYSEArca– 2006–50), as modified by Amendment No. 1, be, and hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4975 Filed 3–19–07; 8:45 am] BILLING CODE 8010–01–P DEPARTMENT OF STATE [Public Notice 5725] International Security Advisory Board (ISAB) Meeting Notice; Closed Meeting In accordance with section 10(a)(2) of the Federal Advisory Committee Act, 5 U.S.C. app 2 § 10(a)(2), the Department of State announces a meeting of the International Security Advisory Board (ISAB) to take place on April 25, 2007, at the Department of State, Washington, DC. Pursuant to section 10(d) of the Federal Advisory Committee Act, 5 U.S.C. app 2 § 10(d), and 5 U.S.C. 552b(c)(1), it has been determined that this Board meeting will be closed to the public in the interest of national defense and foreign policy because the Board will be reviewing and discussing matters classified in accordance with Executive Order 12958. The purpose of the ISAB is to provide the Department with a continuing source of independent advice on all aspects of arms control, disarmament and international security, and related aspects of public diplomacy. The agenda for this meeting includes classified discussions related to the Board’s ongoing studies on current U.S. policy and issues regarding nuclear proliferation, space policy, and related aspects of public diplomacy. 7 15 8 17 U.S.C. 78s(b)(2). CFR 200.30–3(a)(12). E:\FR\FM\20MRN1.SGM 20MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 72, Number 53 (Tuesday, March 20, 2007)]
[Notices]
[Pages 13155-13156]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4974]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55446; File No. SR-NYSEArca-2006-51]


Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting 
Approval of Proposed Rule Change Relating to Amendments to Registration 
Rules of NYSE Arca, Inc

March 12, 2007.

I. Introduction

    On November 14, 2006, NYSE Arca, Inc. (``NYSE Arca'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') pursuant to Section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change relating to amendments to registration rules of 
the Exchange. NYSE Arca filed Amendment No. 1 to the proposed rule 
change on January 12, 2007. The proposed rule change, as amended, was 
published for comment in the Federal Register on February 7, 2007.\3\ 
The Commission received no comments on the proposal. This order 
approves the proposed rule change, as amended.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(l).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 55215 (January 31, 
2007), 72 FR 5783 (February 7, 2007).
---------------------------------------------------------------------------

II. Description of the Proposal

    The Exchange proposed to amend certain NYSE Arca Rules governing 
registration procedures and ongoing compliance obligations for Options 
Trading Permit (``OTP'') Holders \4\ and employees of OTP Firms \5\ in 
order to (i) clarify registration procedures and make them consistent 
with the procedures of other self-regulatory organizations (``SROs'') 
and with the operation of the Central Registration Depository (``CRD'') 
system maintained by the National Association of Securities Dealers, 
Inc. (``NASD'') and (ii) include an additional registration category in 
connection with the Exchange's new options trading platform, OX.\6\
---------------------------------------------------------------------------

    \4\ See NYSE Arca Rule 1.1(q).
    \5\ See NYSE Arca Rule 1.1(r).
    \6\ See Securities Exchange Act Release No. 54238 (July 28, 
2006), 71 FR 44758 (August 7, 2006) (SR-NYSEArca-2006-13).
---------------------------------------------------------------------------

    Specifically, the Exchange proposed to amend Rule 2.5(b)(10)(A) to 
provide for a new category, the Market Maker Authorized Trader, for 
individuals who perform market making activity on behalf of an OTP Firm 
on the OX trading facility. The amendment to that Rule also includes 
certain exceptions to the examination requirements. The Exchange also 
proposed to amend Rule 2.5(c), its waiver standards, so that the 
Exchange's practices are generally consistent with the criterion in 
NASD Rule 1070(d) and Supplementary Material .15(1)(b) to NYSE Rule 
345. The Exchange also proposed to amend Rule 2.23 to provide manual 
registration procedures for registration categories (e.g., floor clerk) 
for which CRD does not provide electronic registration. In addition, 
the Exchange is consolidating its continuing education requirements in 
paragraph (d) of Rule 2.23 and deleting the continuing education 
requirements in Rule 9.27(c) and (d) to avoid needless repetition and 
risk of inconsistencies. Finally, the Exchange proposes to amend Rules 
6.33 and 6.34A(b)(2) to require Market Maker and Market Maker 
Authorized Trader applicants who have previously successfully completed 
the required examination but who have not been registered with the 
Exchange for six months or more to complete an orientation program 
prescribed by the Exchange.

III. Discussion and Commission Findings

    The Commission has reviewed carefully the proposed rule change and 
finds that it is consistent with the requirements of the Act and the 
rules and regulations thereunder applicable to a national securities 
exchange.\7\ In particular, the Commission finds that the proposed rule 
change is consistent with Section 6(b)(5) of the Act,\8\ which, among 
other things, requires that the rules of a national securities exchange 
be designed to promote just and equitable principles of trade, to 
foster cooperation and coordination with persons engaged in regulating 
transactions in securities, to remove impediments to and perfect the 
mechanism of a free and open market and a national market system and, 
in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \7\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Commission believes that clarifying the registration procedures 
and ongoing compliance obligations and making the registration 
procedures consistent with the procedures of the other SROs will 
benefit OTP Holders and employees of OTP Firms by making the 
registration process easier and more efficient. Furthermore, amending 
Exchange rules to be generally consistent with the rules of other SROs, 
market practices, and the operation of

[[Page 13156]]

the CRD should help simplify the procedures and administrative matters 
for OTP Holders and employees of OTP Firms. Finally, the Commission 
believes that requiring Market Makers and Market Maker Authorized 
Traders to attend an orientation session when such persons have not 
been employed in those capacities for six months or more will be 
beneficial to those persons, the Exchange, and the investing public.

IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\9\ that the proposed rule change (SR-NYSEArca-2006-51), as 
amended, be, and hereby is, approved.
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    \9\ 15 U.S.C. 78s(b)(2).

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

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

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-4974 Filed 3-19-07; 8:45 am]
BILLING CODE 8010-01-P

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