Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Participant Fees and Credits, 18700-18701 [E7-6963]
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18700
Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on March 23,
• Send paper comments in triplicate
2007, the Chicago Stock Exchange, Inc.
to Nancy M. Morris, Secretary,
(‘‘CHX’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission,
Securities and Exchange Commission
100 F Street, NE., Washington, DC
(‘‘Commission’’) the proposed rule
20549–1090.
change as described in Items I, II, and
III below, which Items have been
All submissions should refer to File
substantially prepared by the Exchange.
Number SR–Amex–2007–33. This file
CHX has filed the proposal pursuant to
number should be included on the
subject line if e-mail is used. To help the Section 19(b)(3)(A) of the Act 3 and Rule
19b–4(f)(2) thereunder,4 which renders
Commission process and review your
the proposal effective upon filing with
comments more efficiently, please use
only one method. The Commission will the Commission. The Commission is
post all comments on the Commission’s publishing this notice to solicit
comments on the proposed rule change
Internet Web site (https://www.sec.gov/
from interested persons.
rules/sro.shtml). Copies of the
submission, all subsequent
I. Self-Regulatory Organization’s
amendments, all written statements
Statement of the Terms of Substance of
with respect to the proposed rule
the Proposed Rule Change
change that are filed with the
CHX proposes to amend its Fee
Commission, and all written
Schedule to confirm that it will not
communications relating to the
charge a fee or pay a credit in
proposed rule change between the
Commission and any person, other than connection with the execution, in the
Matching System, of a single-sided
those that may be withheld from the
order for 100 or more shares at a price
public in accordance with the
less than $1.00 per share. The text of the
provisions of 5 U.S.C. 552, will be
proposed rule change is available at
available for inspection and copying in
CHX, the Commission’s Public
the Commission’s Public Reference
Room. Copies of such filing also will be Reference Room, and https://
www.chx.com/rules/
available for inspection and copying at
proposed_rules.htm.
the principal office of the Amex. All
comments received will be posted
II. Self-Regulatory Organization’s
without change; the Commission does
Statement of the Purpose of, and
not edit personal identifying
Statutory Basis for, the Proposed Rule
information from submissions. You
Change
should submit only information that
In its filing with the Commission,
you wish to make available publicly. All CHX included statements concerning
submissions should refer to File
the purpose of and basis for the
Number SR–Amex–2007–33 and should proposed rule change and discussed any
be submitted by May 4, 2007.
comments it received on the proposed
For the Commission by the Division of
rule change. The text of these statements
Market Regulation, pursuant to delegated
may be examined at the places specified
authority.19
in Item IV below. CHX has prepared
Florence E. Harmon,
summaries, set forth in Sections A, B,
Deputy Secretary.
and C below, of the most significant
aspects of such statements.
[FR Doc. E7–7054 Filed 4–12–07; 8:45 am]
Paper Comments
BILLING CODE 8010–01–P
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55595; File No. SR–CHX–
2007–14]
pwalker on PROD1PC71 with NOTICES
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Relating to
Participant Fees and Credits
April 6, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
19 17
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
17:52 Apr 12, 2007
Jkt 211001
1. Purpose
The Exchange proposes to amend its
Fee Schedule to confirm that it will not
charge a fee or pay a credit in
connection with the execution, in the
Matching System, of a single-sided
order for 100 or more shares at a price
less than $1.00 per share. This provision
is designed, in part, to confirm that the
Exchange will not charge a fee that is
greater than the maximum access fee set
out in Rule 610(c)(2) of Regulation
NMS.5 It also confirms that the
Exchange has determined that it would
not be appropriate to provide a credit in
connection with these no-cost
executions.
2. Statutory Basis
CHX believes that the proposed rule
change is consistent with the provisions
of Section 6 of the Act,6 in general, and
with Section 6(b)(4) of the Act,7 in
particular, in that the proposal provides
for the equitable allocation of reasonable
dues, fees, and other charges among its
members.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will result in
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.
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 8 and
subparagraph (f)(2) of Rule 19b–4
thereunder 9 because it establishes or
changes a due, fee, or other charge
applicable only to a member imposed by
the self-regulatory organization.
Accordingly, the proposal is effective
upon Commission receipt of the filing.
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:
5 See
17 CFR 242.610(c)(2).
U.S.C. 78f.
7 15 U.S.C. 78f(b)(4).
8 15 U.S.C. 78s(b)(3)(A)(ii).
9 17 CFR 240.19b–4(f)(2).
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).
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Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices
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–CHX–2007–14 on the
subject line.
Paper Comments
pwalker on PROD1PC71 with NOTICES
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE, Washington, DC
20549–1090.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55586; File No. SR–ISE–
2007–19]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to Access to the
Exchange by Sponsored Customers
April 5, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
All submissions should refer to File
notice is hereby given that on March 13,
Number SR–CHX–2007–14. This file
2007, the International Securities
number should be included on the
Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’)
subject line if e-mail is used. To help the filed with the Securities and Exchange
Commission process and review your
Commission (‘‘Commission’’) the
comments more efficiently, please use
proposed rule change as described in
only one method. The Commission will Items I and II below, which Items have
post all comments on the Commission’s been substantially prepared by ISE. The
Internet Web site (https://www.sec.gov/
Exchange has filed the proposal as a
rules/sro.shtml). Copies of the
‘‘non-controversial’’ rule change
submission, all subsequent
pursuant to Section 19(b)(3)(A) of the
amendments, all written statements
Act 3 and Rule 19b–4(f)(6) thereunder,4
with respect to the proposed rule
which renders it effective upon filing
change that are filed with the
with the Commission. The Commission
Commission, and all written
is publishing this notice to solicit
communications relating to the
comments on the proposed rule change
proposed rule change between the
from interested persons.
Commission and any person, other than
I. Self-Regulatory Organization’s
those that may be withheld from the
Statement of the Terms of Substance of
public in accordance with the
the Proposed Rule Change
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
ISE proposes to amend ISE Rule 706
the Commission’s Public Reference
to permit Sponsored Customers of a
Room. Copies of the filing also will be
Member to access the Exchange. The
available for inspection and copying at
text of the proposed rule change is
the principal office of CHX. All
available at ISE, the Commission’s
comments received will be posted
Public Reference Room, and
without change; the Commission does
www.iseoptions.com.
not edit personal identifying
II. Self-Regulatory Organization’s
information from submissions. You
Statement of the Purpose of, and
should submit only information that
you wish to make available publicly. All Statutory Basis for, the Proposed Rule
Change
submissions should refer to File
Number SR–CHX–2007–14 and should
In its filing with the Commission, ISE
be submitted on or before May 4, 2007.
included statements concerning the
For the Commission, by the Division of
purpose of and basis for the proposed
Market Regulation, pursuant to delegated
rule change and discussed any
authority.10
comments it received on the proposed
Florence E. Harmon,
rule change. The text of these statements
may be examined at the places specified
Deputy Secretary.
in Item IV below. ISE has prepared
[FR Doc. E7–6963 Filed 4–12–07; 8:45 am]
summaries, set forth in Sections A, B,
BILLING CODE 8010–01–P
and C below, of the most significant
aspects of such statements.
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
CFR 200.30–3(a)(12).
VerDate Aug<31>2005
17:52 Apr 12, 2007
Jkt 211001
PO 00000
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A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
This proposed rule change seeks to
permit Sponsored Customers of
Members to access the Exchange
provided that a Sponsored Customer
Agreement has been entered into with
the Exchange by the Sponsored
Customer, and provided certain other
conditions are satisfied. The proposed
revisions to Rule 706 outlines the
requirements that Sponsoring Members
and Sponsored Customers would be
required to meet prior to engaging in a
Sponsoring Member/Sponsored
Customer relationship.5
A ‘‘Sponsored Customer’’ is a nonMember of the Exchange, such as an
institutional investor, that trades under
a Sponsoring Member’s execution and
clearing identity pursuant to a
sponsorship arrangement between such
non-Member and a Member. The
Sponsoring Member must have
documentation acknowledging it has
full and complete responsibility for all
trading activity conducted by its
Sponsored Customer. A Sponsoring
Member that provides access to a
Sponsored Customer also has a
continuing obligation to comply with all
ISE rules and procedures and the federal
securities laws and regulations. A
Sponsoring Member must also continue
to satisfy any agency obligations that
may exist between itself and its
Sponsored Customer.
A Sponsored Customer’s access to the
Exchange is conditioned on the
following requirements being met:
Sponsored Customers would be
required to enter into a sponsorship
arrangement with a ‘‘Sponsoring
Member,’’ which is defined as an ISE
Member that has been designated by a
Sponsored Customer to execute, clear
and settle transactions on ISE. The
sponsorship arrangement consists of
three separate components.
First, the Sponsored Customer would
have to enter into and maintain a
customer agreement with its Sponsoring
Member, establishing a proper
relationship and account through which
the Sponsored Customer would be
permitted to trade on ISE.
Second, the Sponsored Customer and
its Sponsoring Member would have to
enter into a written agreement that
5 ISE notes that this proposed rule change will
enable Sponsored Customers of Members to access
both its Options Exchange, as per Rule 706, and its
Stock Exchange, as per Rule 2100, which
incorporates Rule 706 by cross-reference.
1 15
10 17
18701
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]]>Agencies
[Federal Register Volume 72, Number 71 (Friday, April 13, 2007)]
[Notices]
[Pages 18700-18701]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-6963]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55595; File No. SR-CHX-2007-14]
Self-Regulatory Organizations; Chicago Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to Participant Fees and Credits
April 6, 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 23, 2007, the Chicago Stock Exchange, Inc. (``CHX'' 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
Exchange. CHX has filed the proposal pursuant to 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. 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).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
CHX proposes to amend its Fee Schedule to confirm that it will not
charge a fee or pay a credit in connection with the execution, in the
Matching System, of a single-sided order for 100 or more shares at a
price less than $1.00 per share. The text of the proposed rule change
is available at CHX, the Commission's Public Reference Room, and http:/
/www.chx.com/rules/proposed_rules.htm.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, CHX 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. CHX 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 to amend its Fee Schedule to confirm that it
will not charge a fee or pay a credit in connection with the execution,
in the Matching System, of a single-sided order for 100 or more shares
at a price less than $1.00 per share. This provision is designed, in
part, to confirm that the Exchange will not charge a fee that is
greater than the maximum access fee set out in Rule 610(c)(2) of
Regulation NMS.\5\ It also confirms that the Exchange has determined
that it would not be appropriate to provide a credit in connection with
these no-cost executions.
---------------------------------------------------------------------------
\5\ See 17 CFR 242.610(c)(2).
---------------------------------------------------------------------------
2. Statutory Basis
CHX believes that the proposed rule change is consistent with the
provisions of Section 6 of the Act,\6\ in general, and with Section
6(b)(4) of the Act,\7\ in particular, in that the proposal provides for
the equitable allocation of reasonable dues, fees, and other charges
among its members.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f.
\7\ 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
result in 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.
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 \8\ and subparagraph (f)(2) of Rule 19b-4
thereunder \9\ because it establishes or changes a due, fee, or other
charge applicable only to a member imposed by the self-regulatory
organization. Accordingly, the proposal is effective upon Commission
receipt of the filing. 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A)(ii).
\9\ 17 CFR 240.19b-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:
[[Page 18701]]
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 Number SR-CHX-2007-14 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-CHX-2007-14. 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 the filing
also will be available for inspection and copying at the principal
office of CHX. 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-CHX-
2007-14 and should be submitted on or before May 4, 2007.
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. E7-6963 Filed 4-12-07; 8:45 am]
BILLING CODE 8010-01-P
