Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Allocation and Performance Evaluation Procedures for Securities Admitted to Dealings on an Unlisted Basis, 18698-18700 [E7-7054]

Download as PDF 18698 Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices information to a Floor Official. The proposal would amend Amex Rule 950– ANTE(a) (incorporating Rule 177 to options) obligating the ABC, as well as an options specialist, to report to a Floor Official those activities and such information as delineated in Amex Rule 177. c. Implementation Finally, to ensure a smooth and orderly transition of the responsibility for operating customer limit order book and executing agency orders from options specialists to ABCs, the Exchange proposes to implement this rule change to all applicable trading posts over a 180-day period from the effective date of this rule change. During this 180-day transition period, any options specialist who continues to operate the customer limit order book would continue to be subject to the same agency obligations as currently provided under Amex Rules 950– ANTE(l) and 958A–ANTE(e), except that, upon the approval of this proposal, these prior obligations instead would be reflected in a Regulatory Circular during the 180-day transition period. 2. Statutory Basis Amex believes the proposed rule change is consistent with Section 6(b) of the Act 15 in general and furthers the objectives of Section 6(b)(5) of the Act 16 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 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, and, in general, to protect investors and the public interest; and is not designed to permit unfair discrimination between customers, issuers, brokers, or dealers, or to regulate by virtue of any authority conferred by the Act matters not related to the purpose of the Act or the administration of the Exchange. pwalker on PROD1PC71 with NOTICES B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange believes that this proposed rule change would not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. 15 15 16 15 U.S.C. 78f(b). U.S.C. 78f(b)(5). VerDate Aug<31>2005 17:52 Apr 12, 2007 Jkt 211001 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action 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 the proposed rule change, or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. 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 the Exchange. 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–Amex–2006–107 and should be submitted on or before May 4, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.17 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–6960 Filed 4–12–07; 8:45 am] BILLING CODE 8010–01–P 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 Number SR–Amex–2006–107 on the subject line. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55602; File No. SR–Amex– 2007–33] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Extension of the Allocation and Performance Evaluation Procedures for Securities Admitted to Dealings on an Unlisted Basis April 9, 2007. Pursuant to Section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’) 2 and Rule 19b–4 thereunder,3 • Send paper comments in triplicate notice is hereby given that on April 3, to Nancy M. Morris, Secretary, 2007, the American Stock Exchange LLC Securities and Exchange Commission, (the ‘‘Amex’’ or ‘‘Exchange’’), filed with 100 F Street, NE., Washington, DC the Securities and Exchange 20549–1090. Commission (‘‘Commission’’) the All submissions should refer to File proposed rule change as described in Number SR–Amex–2006–107. This file Items I and II below, which Items have number should be included on the been substantially prepared by subject line if e-mail is used. To help the Exchange. The Exchange has designated Commission process and review your this proposal as non-controversial under comments more efficiently, please use Section 19(b)(3)(A)(iii) of the Act 4 and only one method. The Commission will Rule 19b–4(f)(6) thereunder,5 which post all comments on the Commission’s renders the proposed rule change Internet Web site (http://www.sec.gov/ effective upon filing with the rules/sro.shtml). Copies of the Commission. The Commission is submission, all subsequent publishing this notice to solicit amendments, all written statements with respect to the proposed rule 17 17 CFR 200.30–3(a)(12). change that are filed with the 1 15 U.S.C.78s(b)(1). Commission, and all written 2 15 U.S.C. 78a. communications relating to the 3 17 CFR 240.19b–4. 4 15 U.S.C. 78s(b)(3)(A)(iii). proposed rule change between the 5 17 CFR 240.19b–4(f)(6). Commission and any person, other than Paper Comments PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 E:\FR\FM\13APN1.SGM 13APN1 Federal Register / Vol. 72, No. 71 / Friday, April 13, 2007 / Notices 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 Amex seeks a one year extension of its allocations and performance evaluation procedures for securities admitted to dealings on an unlisted trading privileges (‘‘UTP’’) basis to permit these programs to remain in effect while the Commission considers permanent approval of these procedures. The text of the proposed rule change is available on the Amex’s Web site at http://www.amex.com, the Exchange’s Office of the Secretary, 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 changes and discussed any comments it received regarding the proposal. 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 the Statutory Basis for, the Proposed Rule Change 1. Purpose pwalker on PROD1PC71 with NOTICES The Exchange is proposing to extend its allocations and performance evaluation procedures for securities admitted to dealings on an unlisted trading privileges basis (the ‘‘Pilot Program’’) from April 6, 2007 through and including April 6, 2008. The text of the rules shall remain unchanged. The Commission previously approved, on a pilot basis, the Exchange’s allocation and performance evaluation procedures for securities admitted to dealings on an unlisted trading privileges basis through two independent approval orders.6 In 2003, the Pilot Program was extended through October 5, 2003 7 and April 5, 2004.8 In 2004, the Pilot Program was 6 See Securities Exchange Act Release No. 45698 (April 5, 2002); 67 FR 18051 (April 12, 2002) (SR– Amex–2001–107) and 46750 (October 30, 2002), 67 FR 67880 (November 7, 2002) (SR–Amex–2002–19). 7 See Securities Exchange Act Release No. 47779 (May 1, 2003), 68 FR 24777 (May 8, 2003). 8 See Securities Exchange Act Release No. 48657 (October 17, 2003), 68 FR 61025 (October 24, 2003). VerDate Aug<31>2005 17:52 Apr 12, 2007 Jkt 211001 extended through April 6, 2005.9 In 2005, the Pilot Program was extended through April 6, 2006.10 In 2006, the Pilot Program was extended through April 6, 2007.11 The instant proposed rule change makes no substantive change to the Pilot Program other than to extend it through and including April 6, 2008. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6 of the Act 12 in general and furthers the objectives of Section 6(b)(5) 13 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 proposed rule change will impose no 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 Written comments on the proposed rule change were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the proposed rule change does not: (1) Significantly affect the protection of investors or the public interest; (2) impose any significant burden on competition; and (3) become operative for 30 days after the date of the filing, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to 9 See Securities Exchange Act Release No. 49613 (April 26, 2004); 69 FR 24204 (May 3, 2004). 10 See Securities Exchange Act Release No. 52004 (July 8, 2005); 70 FR 41061 (July 15, 2005) (retroactively reinstating the Pilot Program to April 6, 2005, and extending it through and including April 6, 2006). 11 See Securities Exchange Act Release No. 53649 (April 13, 2006); 71 FR 20425 (April 20, 2006). 12 15 U.S.C. 78f. 13 15 U.S.C. 78f(b)(5). PO 00000 Frm 00080 Fmt 4703 Sfmt 4703 18699 Section 19(b)(3)(A) of the Act 14 and Rule 19b–4(f)(6) thereunder.15 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. A proposed rule change normally may not become operative prior to 30 days after the date of filing.16 However, Rule 19b–4(f)(6)(iii) 17 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. The Exchange has requested that the Commission waive the 30-day operative delay. The Commission believes that waiver of the 30 day operative delay is consistent with the protection of investors and the public interest because the proposed rule change would merely permit the continuation of the Pilot Program in its current form on an uninterrupted basis through and including April 6, 2008.18 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 e-mail to rulecomments@sec.gov. Please include File Number SR–Amex–2007–33 on the subject line. 14 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 16 17 CFR 240.19b–4(f)(6)(iii). Rule 19b–4(f)(6)(iii) requires that a self-regulatory organization submit to the Commission written notice of its intent to file the proposed rule change, along with a brief description and text of the proposed rule change, at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. On March 26, 2007, the Exchange provided such notice to the Commission in the form of a draft version of the proposed rule change. Despite providing such notice to the Commission, the Exchange subsequently requested that the Commission waive the five-day prefiling requirement. The Exchange’s request to waive the five-day prefiling requirement is moot given that the Exchange has satisfied it by submitting the draft version of the proposed rule change. 17 17 CFR 240.19b–4(f)(6)(iii). 18 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 15 17 E:\FR\FM\13APN1.SGM 13APN1 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 (http://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 http:// 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). PO 00000 Frm 00081 Fmt 4703 6 15 Sfmt 4703 E:\FR\FM\13APN1.SGM 13APN1

Agencies

[Federal Register Volume 72, Number 71 (Friday, April 13, 2007)]
[Notices]
[Pages 18698-18700]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7054]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55602; File No. SR-Amex-2007-33]


Self-Regulatory Organizations; American Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to the Extension of the Allocation and Performance Evaluation 
Procedures for Securities Admitted to Dealings on an Unlisted Basis

April 9, 2007.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby 
given that on April 3, 2007, the American Stock Exchange LLC (the 
``Amex'' 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 
Exchange. The Exchange has designated this proposal as non-
controversial under Section 19(b)(3)(A)(iii) of the Act \4\ and Rule 
19b-4(f)(6) thereunder,\5\ which renders the proposed rule change 
effective upon filing with the Commission. The Commission is publishing 
this notice to solicit

[[Page 18699]]

comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C.78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \5\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    Amex seeks a one year extension of its allocations and performance 
evaluation procedures for securities admitted to dealings on an 
unlisted trading privileges (``UTP'') basis to permit these programs to 
remain in effect while the Commission considers permanent approval of 
these procedures.
    The text of the proposed rule change is available on the Amex's Web 
site at http://www.amex.com, the Exchange's Office of the Secretary, 
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 changes and 
discussed any comments it received regarding the proposal. 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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange is proposing to extend its allocations and performance 
evaluation procedures for securities admitted to dealings on an 
unlisted trading privileges basis (the ``Pilot Program'') from April 6, 
2007 through and including April 6, 2008. The text of the rules shall 
remain unchanged. The Commission previously approved, on a pilot basis, 
the Exchange's allocation and performance evaluation procedures for 
securities admitted to dealings on an unlisted trading privileges basis 
through two independent approval orders.\6\ In 2003, the Pilot Program 
was extended through October 5, 2003 \7\ and April 5, 2004.\8\ In 2004, 
the Pilot Program was extended through April 6, 2005.\9\ In 2005, the 
Pilot Program was extended through April 6, 2006.\10\ In 2006, the 
Pilot Program was extended through April 6, 2007.\11\ The instant 
proposed rule change makes no substantive change to the Pilot Program 
other than to extend it through and including April 6, 2008.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 45698 (April 5, 
2002); 67 FR 18051 (April 12, 2002) (SR-Amex-2001-107) and 46750 
(October 30, 2002), 67 FR 67880 (November 7, 2002) (SR-Amex-2002-
19).
    \7\ See Securities Exchange Act Release No. 47779 (May 1, 2003), 
68 FR 24777 (May 8, 2003).
    \8\ See Securities Exchange Act Release No. 48657 (October 17, 
2003), 68 FR 61025 (October 24, 2003).
    \9\ See Securities Exchange Act Release No. 49613 (April 26, 
2004); 69 FR 24204 (May 3, 2004).
    \10\ See Securities Exchange Act Release No. 52004 (July 8, 
2005); 70 FR 41061 (July 15, 2005) (retroactively reinstating the 
Pilot Program to April 6, 2005, and extending it through and 
including April 6, 2006).
    \11\ See Securities Exchange Act Release No. 53649 (April 13, 
2006); 71 FR 20425 (April 20, 2006).
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2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6 of the Act \12\ in general and furthers the objectives 
of Section 6(b)(5) \13\ 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.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78f.
    \13\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    The proposed rule change will impose no 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

    Written comments on the proposed rule change were neither solicited 
nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Because the proposed rule change does not: (1) Significantly affect 
the protection of investors or the public interest; (2) impose any 
significant burden on competition; and (3) become operative for 30 days 
after the date of the filing, or such shorter time as the Commission 
may designate if consistent with the protection of investors and the 
public interest, the proposed rule change has become effective pursuant 
to Section 19(b)(3)(A) of the Act \14\ and Rule 19b-4(f)(6) 
thereunder.\15\
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(3)(A).
    \15\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    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.
    A proposed rule change normally may not become operative prior to 
30 days after the date of filing.\16\ However, Rule 19b-4(f)(6)(iii) 
\17\ permits the Commission to designate a shorter time if such action 
is consistent with the protection of investors and the public interest. 
The Exchange has requested that the Commission waive the 30-day 
operative delay. The Commission believes that waiver of the 30 day 
operative delay is consistent with the protection of investors and the 
public interest because the proposed rule change would merely permit 
the continuation of the Pilot Program in its current form on an 
uninterrupted basis through and including April 6, 2008.\18\
---------------------------------------------------------------------------

    \16\ 17 CFR 240.19b-4(f)(6)(iii). Rule 19b-4(f)(6)(iii) requires 
that a self-regulatory organization submit to the Commission written 
notice of its intent to file the proposed rule change, along with a 
brief description and text of the proposed rule change, at least 
five business days prior to the date of filing of the proposed rule 
change, or such shorter time as designated by the Commission. On 
March 26, 2007, the Exchange provided such notice to the Commission 
in the form of a draft version of the proposed rule change. Despite 
providing such notice to the Commission, the Exchange subsequently 
requested that the Commission waive the five-day prefiling 
requirement. The Exchange's request to waive the five-day prefiling 
requirement is moot given that the Exchange has satisfied it by 
submitting the draft version of the proposed rule change.
    \17\ 17 CFR 240.19b-4(f)(6)(iii).
    \18\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed rule's on efficiency, 
competition, and capital formation. See 15 U.S.C. 78c(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 e-mail to rule-comments@sec.gov. Please include File 
Number SR-Amex-2007-33 on the subject line.

[[Page 18700]]

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-Amex-2007-33. 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 Amex. 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-Amex-2007-33 and should be submitted by May 4, 2007.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\19\
---------------------------------------------------------------------------

    \19\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-7054 Filed 4-12-07; 8:45 am]
BILLING CODE 8010-01-P