Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change to Amend Listing and Annual Fees Applicable to Investment Company Units, Currency Trust Shares, Commodity Trust Shares and streetTRACKS® Gold Shares, 15750-15751 [E7-5983]

Download as PDF 15750 Federal Register / Vol. 72, No. 62 / Monday, April 2, 2007 / Notices condition halt will be immediately routed to NYSE Arca, where they will be handled in accordance with the rules governing that market. This process will facilitate customers who maintain systems connectivity with the Exchange, but may not have direct connectivity with NYSE Arca. If the entity entering the order on the Exchange is not an NYSE Arca ‘‘ETP Holder’’ as defined in NYSE Arca Rule 1.1(m), such order will be cancelled by NYSE Arca when received. Similarly, if an order routed by the NYSE to NYSE Arca contains execution instructions not supported by NYSE Arca, such order will be cancelled by NYSE Arca when received. In addition, NYSE Rule 123D(3) is amended to reflect that the Exchange will cancel any open limit orders in the Display Book system with respect to securities that become subject to a ‘‘Subpenny Trading’’ condition halt. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Act,8 in general, and furthers the objectives of Section 6(b)(5) of the Act,9 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, and to remove impediments to and perfect the mechanism of a free and open market and a national market system. 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. hsrobinson on PROD1PC76 with NOTICES 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 written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(iii) of the Act 10 and Rule 19b–4(f)(5) thereunder 11 because it effects a change in an existing order-entry or trading 8 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). 10 15 U.S.C. 78s(b)(3)(A)(iii). 11 17 CFR 19b–4(f)(5). 9 15 VerDate Aug<31>2005 18:39 Mar 30, 2007 Jkt 211001 system of a self-regulatory organization that: (i) Does not significantly affect the protection of investors or the public interest; (ii) does not impose any significant burden on competition; and (iii) does not have the effect of limiting the access to or availability of the system. 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. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSE–2007–30 on the subject line. 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–NYSE–2007–30 and should be submitted on or before April 23, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.12 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–5965 Filed 3–30–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55536; File No. SR–NYSE– 2007–01] Self-Regulatory Organizations; New York Stock Exchange LLC; Order Approving Proposed Rule Change to Amend Listing and Annual Fees Applicable to Investment Company Units, Currency Trust Shares, Commodity Trust Shares and streetTRACKS Gold Shares March 27, 2007. On January 24, 2007, the New York Stock Exchange LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with the Securities Paper Comments and Exchange Commission • Send paper comments in triplicate (‘‘Commission’’) pursuant to Section to Nancy M. Morris, Secretary, 19(b)(1) of the Securities Exchange Act Securities and Exchange Commission, of 1934 (‘‘Act’’) 1 and Rule 19b–4 Station Place, 100 F Street NE., thereunder,2 a proposal to amend initial Washington, DC 20549–1090. listing fees and annual fees applicable to All submissions should refer to File Investment Company Units (‘‘ICUs’’), Number SR–NYSE–2007–30. This file Currency Trust Shares, Commodity number should be included on the  subject line if e-mail is used. To help the Trust Shares and streetTRACKS Gold Shares in Section 902.07 of the NYSE Commission process and review your Listed Company Manual (‘‘Manual’’), comments more efficiently, please use only one method. The Commission will and to make conforming amendments to post all comments on the Commission’s Sections 902.02 and 902.03 of the Manual. The proposed rule change was Internet Web site (https://www.sec.gov/ published for comment in the Federal rules/sro.shtml). Copies of the Register on February 23, 2007.3 The submission, all subsequent Commission did not receive any amendments, all written statements comments regarding the proposal. This with respect to the proposed rule order approves the proposed rule change that are filed with the change. Commission, and all written Under the proposed rule change, the communications relating to the current flat $5,000 Listing Fee for each proposed rule change between the Commission and any person, other than series of ICUs will be broadened to also apply to each series of streetTRACKS those that may be withheld from the Gold Shares and each issue of Currency public in accordance with the Trust Shares and Commodity Trust provisions of 5 U.S.C. 552, will be Shares. Further, the Listing and Annual available for inspection and copying in Fees for ICUs, streetTRACKS Gold the Commission’s Public Reference Room. Copies of such filing also will be 12 17 CFR 200.30–3(a)(12). available for inspection and copying at 1 15 U.S.C. 78s(b)(1). the principal offices of the Exchange. 2 17 CFR 240.19b–4. All comments received will be posted 3 Securities Exchange Act Release No. 55299 (February 15, 2007), 72 FR 8233. without change; the Commission does PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 E:\FR\FM\02APN1.SGM 02APN1 Federal Register / Vol. 72, No. 62 / Monday, April 2, 2007 / Notices Shares, Currency Trust Shares, and Commodity Trust Shares will not be counted toward the NYSE’s total annual fees cap of $500,000. In addition, the annual fee charged for ICUs, Currency Trust Shares, Commodity Trust Shares and streetTRACKS Gold Shares by the Exchange is currently a flat amount. Under the proposed rule change, this fee will be tiered based on the number of shares outstanding for each issue at the end of the preceding calendar quarter and will be billed on a quarterly basis. 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.4 In particular, the Commission finds that the proposed rule change is consistent with Section 6(b)(4) of the Act,5 which requires that the rules of the exchange provide for the equitable allocation of reasonable dues, fees, and other charges among its members and issuers and other persons using its facilities. The Commission notes that, in part, the proposed rule change merely reflects on the Exchange’s fee schedule listing fees that had previously been approved by the Commission.6 In addition, the Commission notes that it has approved similar tiered annual fee structures.7 It is therefore ordered, pursuant to Section 19(b)(2) of the Act,8 that the proposed rule change (File No. SR– NYSE–2007–01) be, and hereby is, approved. For the Commission, by the Division of Market Regulation, pursuant delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–5983 Filed 3–30–07; 8:45 am] hsrobinson on PROD1PC76 with NOTICES approving this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 5 15 U.S.C. 78f(b)(4). 6 See, e.g., Securities Exchange Act Release Nos. 50603 (October 28, 2004), 69 FR 64614 (November 5, 2004) (SR–NYSE–2004–22) and 54020 (June 20, 2006), 71 FR 36579 (June 27, 2006) (SR–NYSE– 2006–35). 7 See, e.g., Securities Exchange Act Release Nos. 53059 (January 5, 2006), 71 FR 2072 (January 12, 2006) (SR–Amex–2005–128) and 54007 (June 16, 2006), 71 FR 36155 (June 23, 2006) (SR–PCX–2006– 16). 8 15 U.S.C. 78s(b)(2). 9 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 18:39 Mar 30, 2007 Jkt 211001 [Release No. 34–55522; File No. SR– NYSEArca–2007–26] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Certain Types of Orders on Ox March 26, 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 March 2, 2007, NYSE Arca, Inc. (‘‘NYSE Arca’’ 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 been substantially prepared by the Exchange. The Exchange filed the proposed rule change as a ‘‘non-controversial’’ proposed rule change pursuant to Section 19(b)(3)(A) 3 of the Act and Rule 19b–4(f)(6) 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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change NYSE Arca proposes to update and amend its rules concerning order types by incorporating the order type definitions of NYSE Arca Rule 6.62A into a revised NYSE Arca Rule 6.62. The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and https://www.nysearca.com. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change BILLING CODE 8010–01–P 4 In SECURITIES AND EXCHANGE COMMISSION 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. NYSE Arca has substantially prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(6). 2 17 PO 00000 Frm 00108 Fmt 4703 Sfmt 4703 15751 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this filing is to incorporate the order definitions contained in NYSE Arca Rule 6.62A into a revised NYSE Arca Rule 6.62. Presently, Rule 6.62 defines certain order types applicable under the PCX Plus System, which is obsolete, while Rule 6.62A defines certain order types applicable under the current OX Trading System. Many of these rules overlap and actually apply to both systems, while some portions are obsolete. Revising the two rules will eliminate obsolete references and redundancies. In September 2006, NYSE Arca introduced the OX Trading System (‘‘OX’’), a new automated options trading platform. OX replaced the Exchange’s legacy system, PCX Plus. In conjunction with the introduction of OX, the Exchange filed, and received approval for, a new rule set applicable to the new system.5 During the introductory phase of OX, the Exchange operated two trading systems, which necessitated the need for two rule sets: one pertaining to PCX Plus; and another pertaining to OX. The Exchange has now completed its rollout of OX. As such, options issues no longer trade on the PCX Plus at the Exchange, thereby rendering the PCX Plus rule set effectively duplicative and obsolete.6 Order types that are contained in Rule 6.62, designated as PCX Plus rules, may also be applicable under the OX system. Other order types that are presently designated as PCX Plus rules, may also be applicable in open outcry trading. The Exchange proposes to combine all order types from Rule 6.62 and Rule 6.62A into one rule. Revised Rule 6.62 will now contain all defined order types for options that trade on NYSE Arca and Rule 6.62A will be deleted in its entirety. In rule text where either ‘‘PCX Plus’’ or ‘‘OX’’ has been used, the Exchange proposes to replace such designation with ‘‘NYSE Arca’’ or ‘‘Exchange.’’ The Exchange also proposes removing the ‘‘PCX Plus’’ designation from the title of Rule 6.62. A more detailed description of proposed 5 See Securities Exchange Act Release No. 54238 (July 28, 2006), 71 FR 44758 (August 7, 2006) (SR– NYSEArca–2006–13) (Order approving rules related to the OX Trading System). 6 The Exchange anticipates submitting a comprehensive clean-up rule filing in the near future. At the request of the Commission staff, the instant filing is targeted to eliminate confusion regarding certain order types. E:\FR\FM\02APN1.SGM 02APN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 72, Number 62 (Monday, April 2, 2007)]
[Notices]
[Pages 15750-15751]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-5983]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55536; File No. SR-NYSE-2007-01]


Self-Regulatory Organizations; New York Stock Exchange LLC; Order 
Approving Proposed Rule Change to Amend Listing and Annual Fees 
Applicable to Investment Company Units, Currency Trust Shares, 
Commodity Trust Shares and streetTRACKS[supreg] Gold Shares

March 27, 2007.
    On January 24, 2007, the New York Stock Exchange LLC (``NYSE'' 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 
proposal to amend initial listing fees and annual fees applicable to 
Investment Company Units (``ICUs''), Currency Trust Shares, Commodity 
Trust Shares and streetTRACKS[supreg] Gold Shares in Section 902.07 of 
the NYSE Listed Company Manual (``Manual''), and to make conforming 
amendments to Sections 902.02 and 902.03 of the Manual. The proposed 
rule change was published for comment in the Federal Register on 
February 23, 2007.\3\ The Commission did not receive any comments 
regarding the proposal. This order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Securities Exchange Act Release No. 55299 (February 15, 
2007), 72 FR 8233.
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    Under the proposed rule change, the current flat $5,000 Listing Fee 
for each series of ICUs will be broadened to also apply to each series 
of streetTRACKS[supreg] Gold Shares and each issue of Currency Trust 
Shares and Commodity Trust Shares. Further, the Listing and Annual Fees 
for ICUs, streetTRACKS[supreg] Gold

[[Page 15751]]

Shares, Currency Trust Shares, and Commodity Trust Shares will not be 
counted toward the NYSE's total annual fees cap of $500,000.
    In addition, the annual fee charged for ICUs, Currency Trust 
Shares, Commodity Trust Shares and streetTRACKS[supreg] Gold Shares by 
the Exchange is currently a flat amount. Under the proposed rule 
change, this fee will be tiered based on the number of shares 
outstanding for each issue at the end of the preceding calendar quarter 
and will be billed on a quarterly basis.
    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.\4\ In particular, the Commission finds that the proposed rule 
change is consistent with Section 6(b)(4) of the Act,\5\ which requires 
that the rules of the exchange provide for the equitable allocation of 
reasonable dues, fees, and other charges among its members and issuers 
and other persons using its facilities. The Commission notes that, in 
part, the proposed rule change merely reflects on the Exchange's fee 
schedule listing fees that had previously been approved by the 
Commission.\6\ In addition, the Commission notes that it has approved 
similar tiered annual fee structures.\7\
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    \4\ In approving this proposal, the Commission has considered 
the proposed rule's impact on efficiency, competition, and capital 
formation. 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(4).
    \6\ See, e.g., Securities Exchange Act Release Nos. 50603 
(October 28, 2004), 69 FR 64614 (November 5, 2004) (SR-NYSE-2004-22) 
and 54020 (June 20, 2006), 71 FR 36579 (June 27, 2006) (SR-NYSE-
2006-35).
    \7\ See, e.g., Securities Exchange Act Release Nos. 53059 
(January 5, 2006), 71 FR 2072 (January 12, 2006) (SR-Amex-2005-128) 
and 54007 (June 16, 2006), 71 FR 36155 (June 23, 2006) (SR-PCX-2006-
16).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\8\ that the proposed rule change (File No. SR-NYSE-2007-01) be, 
and hereby is, approved.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-5983 Filed 3-30-07; 8:45 am]
BILLING CODE 8010-01-P

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