Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Create a Pilot Non-Professional Fee for Certain Market Data From the Nasdaq Market Center, 19567-19569 [E7-7320]
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Federal Register / Vol. 72, No. 74 / Wednesday, April 18, 2007 / Notices
become effective pursuant to Section
19(b)(3)(A) of the Act 8 and Rule 19b–
4(f)(6) thereunder.9
A proposed rule change filed under
19b–4(f)(6) normally may not become
operative prior to 30 days after the date
of filing.10 However, Rule 19b–
4(f)(6)(iii) 11 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
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest
because such waiver would permit
Nasdaq to implement the proposed rule
change on April 1, 2007, clarifying that
the Enterprise License includes the
ability to distribute market data for
NYSE and Amex securities. For this
reason, the Commission designates the
proposed rule change to be operative
upon filing with the Commission.12
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
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
8 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
10 17 CFR 240.19b–4(f)(6)(iii). In addition, 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. The Exchange has requested that the
Commission waive the 5-day pre-filing notice
requirement. The Commission has determined to
grant this request.
11 Id.
12 For the purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
pwalker on PROD1PC71 with NOTICES
9 17
VerDate Aug<31>2005
17:04 Apr 17, 2007
Jkt 211001
Number SR–NASDAQ–2007–034 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–NASDAQ–2007–034. 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 Nasdaq. 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–NASDAQ–2007–034 and
should be submitted on or before May
9, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–7319 Filed 4–17–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55611; File No. SR–
NASDAQ–2007–035]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing and Immediate Effectiveness of
Proposed Rule Change To Create a
Pilot Non-Professional Fee for Certain
Market Data From the Nasdaq Market
Center
April 10, 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 30,
2007, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’ 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 Nasdaq. The
Exchange has filed the proposal as a
‘‘non-controversial’’ rule change
pursuant to Section 19(b)(3)(A) of the
Act3 and Rule 19b–4(f)(6) thereunder,4
which renders it 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
Nasdaq is proposing to establish for a
twelve-month pilot period a $1 per
month fee for non-professional use of
real-time quotation information from the
Nasdaq Market Center trading of NYSE
and Amex listed stocks. The text of the
proposed rule change is available at
Nasdaq, the Commission’s Public
Reference Room, and www.nasdaq.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,
Nasdaq 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. Nasdaq has 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
13 17
PO 00000
CFR 200.30–3(a)(12).
Frm 00107
Fmt 4703
Sfmt 4703
19567
E:\FR\FM\18APN1.SGM
18APN1
19568
Federal Register / Vol. 72, No. 74 / Wednesday, April 18, 2007 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
To encourage more competition in the
trading and quoting of NYSE and Amex
listed stocks, as well as to encourage
subscribership to Nasdaq full-depth
products, Nasdaq is proposing Rule
7023(c)(2) to establish a $1 per month
fee for non-professional subscribers to
OpenView, which consists of real-time
market participant quotation
information regarding Nasdaq’s trading
of NYSE and Amex listed stocks,
currently priced at $6 per month for all
subscribers—professional or nonprofessional. The aggregate best bid and
offer is one data element within Nasdaq
OpenView, and is available for
distribution free of charge. Nasdaq
believes that this will promote wider
distribution of data and benefit
investors wishing to use that data in
making investment decisions.
The establishment of non-professional
fees is a well-established practice of the
network processors that distribute realtime consolidated data for Nasdaq,
NYSE, and Amex stocks. It has also
been an approved practice of the Nasdaq
with respect to proprietary products,
including the Nasdaq Quotation
Dissemination Service. As such, Nasdaq
believes that non-professional fees have
been determined to be consistent with
the Act and also to be in the best
interests of investors and the public.
Nasdaq is proposing to establish the
non-professional fee for OpenView as a
twelve-month pilot to determine
whether the proposed fee will in fact
spur competition and increase
transparency, as non-professional fees
have done in the past.
2. Statutory Basis
Nasdaq believes that the proposed
rule change is consistent with the
provisions of Section 6 of the Act,5 in
general, and with Section 6(b)(4) of the
Act,6 in particular, in that establishment
of a $1 per month non-professional fee
for OpenView will encourage broader
dissemination of that data and thereby
increase transparency in those
securities.
pwalker on PROD1PC71 with NOTICES
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq does not believe that the
proposed rule change will result in any
burden on competition that is not
5 15
6 15
U.S.C. 78f.
U.S.C. 78f(b)(4).
VerDate Aug<31>2005
17:04 Apr 17, 2007
Jkt 211001
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 were neither
solicited nor received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing 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
this filing, or such shorter time as the
Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act7 and Rule 19b–
4(f)(6) thereunder.8
A proposed rule change filed under
19b–4(f)(6) normally may not become
operative prior to 30 days after the date
of filing.9 However, Rule 19b–
4(f)(6)(iii)10 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
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest
because such waiver would permit
Nasdaq to implement the one-year pilot
on April 1, 2007, lowering the charge for
the receipt of OpenView by nonprofessionals from $6 per month to $1
per month, which should expand the
distribution of the information. For this
reason, the Commission designates the
proposed rule change to be operative
upon filing with the Commission.11
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
7 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
9 17 CFR 240.19b–4(f)(6)(iii). In addition, 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. The Exchange has requested that the
Commission waive the 5-day pre-filing notice
requirement. The Commission has determined to
grant this request.
10 Id.
11 For the purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
8 17
PO 00000
Frm 00108
Fmt 4703
Sfmt 4703
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–NASDAQ–2007–035 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–NASDAQ–2007–035. 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 Nasdaq. 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–NASDAQ–2007–035 and
should be submitted on or before May
9, 2007.
E:\FR\FM\18APN1.SGM
18APN1
Federal Register / Vol. 72, No. 74 / Wednesday, April 18, 2007 / Notices
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–7320 Filed 4–17–07; 8:45 am]
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55620; File No. SR–
NASDAQ–2007–039]
Self-Regulatory Organizations; The
NASDAQ Stock Market LLC; Notice of
Filing of Proposed Rule Change To
Modify the Distributor Fee for Nasdaq
Index Weighting Information
April 12, 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 April 4,
2007, The NASDAQ Stock Market LLC
(‘‘Nasdaq’’) 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
Nasdaq. 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
Nasdaq proposes to modify distributor
fees for Nasdaq Index Weighting
Information. The text of the proposed
rule change is available at Nasdaq, the
Commission’s Public Reference Room,
and www.nasdaq.com.
pwalker on PROD1PC71 with NOTICES
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
Nasdaq included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it had received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below.
Nasdaq has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant aspects of such
statements.
The purpose of the proposed rule
change is to modify distributor fees for
Nasdaq Index Weighting Information.
Nasdaq disseminates Nasdaq Index
Weighting data via the Nasdaq Index
Dissemination Service (‘‘NIDS’’) data
feed and via the Nasdaq Trader Web
site. Nasdaq Index Weighting reports
include component and weighting
information for a number of Nasdaq
indices on a daily basis. Market
participants pay a fee to obtain a license
to distribute the Index Weighting
Information to end users. The fees are
based on the number of end users
(whether internal or external to the
organization) and the frequency of the
distribution. The fees permitting
distribution with unlimited frequency
range from $1000 for the right to
distribute the data to 1–500 subscribers
up to $5,000 for the right to distribute
to 10,000+ subscribers. The fees
permitting distribution of data once a
month, quarter, or year range from $500
for the right to distribute data to 1–500
subscribers to $1,000 for the right to
distribute to 10,000+ subscribers.
The proposed rule change would
decrease the distributor fee for the
lowest pricing tier, 1–500 subscribers,
from $1,000 to $300 in the case of
unlimited frequency of distribution, and
from $500 to $275 in the case of
distribution once a month, quarter, or
year. Although the fee schedules
provide for multiple tiered pricing
based on the number of end users, the
lowest pricing tier is the most common
option selected by existing customers.
The proposed fee would apply to
distributors receiving the data via any
delivery platform, including via NIDS or
the Nasdaq Trader Web site. Distributors
receiving the data via more than one
delivery platform would be charged
only once. The remaining tiers of the fee
schedules (i.e., fees for 501–999, 1,000–
4,999, 5,000–9,999, and 10,000+
subscribers) will not change under this
proposal.
Nasdaq believes that the fee decrease
would make this data report more
attractive to vendors who may already
be receiving and distributing other
Nasdaq data feeds, thereby promoting
the broader dissemination of Index
Weighting Information.
2. Statutory Basis
12 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
VerDate Aug<31>2005
17:04 Apr 17, 2007
Nasdaq believes that the proposed
rule change is consistent with the
Jkt 211001
PO 00000
Frm 00109
Fmt 4703
Sfmt 4703
19569
provisions of Section 6 of the Act,3 in
general, and with Section 6(b)(4) of the
Act,4 in particular, in that it provides for
the equitable allocation of reasonable
dues, fees, and other charges among
members and issuers and other persons
using any facility or system which the
Nasdaq operates or controls, and it does
not unfairly discriminate between
customers, issuers, brokers, or dealers.
The proposed rule change reflects
demand patterns for Index Weighting
Information and is designed to provide
an equitable allocation of fees across the
customer base of Nasdaq market data
distributors. Nasdaq further believes
that this rule change would encourage
the broader distribution of the Index
Weighting data, thus improving
transparency and thereby benefiting the
investing public.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
Nasdaq 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
Written comments were neither
solicited nor received.
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 Nasdaq consents, the
Commission will:
(A) by order approve such proposed
rule change; or
(B) institute proceedings to determine
whether the proposed rule change
should be disapproved.
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:
3 15
4 15
E:\FR\FM\18APN1.SGM
U.S.C. 78f.
U.S.C. 78f(b)(4).
18APN1
]]>Agencies
[Federal Register Volume 72, Number 74 (Wednesday, April 18, 2007)]
[Notices]
[Pages 19567-19569]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-7320]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55611; File No. SR-NASDAQ-2007-035]
Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Create a Pilot Non-Professional Fee for Certain Market Data From the
Nasdaq Market Center
April 10, 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 30, 2007, The NASDAQ Stock Market LLC (``Nasdaq'' 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 Nasdaq. The
Exchange has filed the proposal as a ``non-controversial'' rule change
pursuant to Section 19(b)(3)(A) of the Act\3\ and Rule 19b-4(f)(6)
thereunder,\4\ which renders it 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)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
Nasdaq is proposing to establish for a twelve-month pilot period a
$1 per month fee for non-professional use of real-time quotation
information from the Nasdaq Market Center trading of NYSE and Amex
listed stocks. The text of the proposed rule change is available at
Nasdaq, the Commission's Public Reference Room, and www.nasdaq.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, Nasdaq 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. Nasdaq has prepared summaries, set forth in Sections A,
B, and C below, of the most significant aspects of such statements.
[[Page 19568]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
To encourage more competition in the trading and quoting of NYSE
and Amex listed stocks, as well as to encourage subscribership to
Nasdaq full-depth products, Nasdaq is proposing Rule 7023(c)(2) to
establish a $1 per month fee for non-professional subscribers to
OpenView, which consists of real-time market participant quotation
information regarding Nasdaq's trading of NYSE and Amex listed stocks,
currently priced at $6 per month for all subscribers--professional or
non-professional. The aggregate best bid and offer is one data element
within Nasdaq OpenView, and is available for distribution free of
charge. Nasdaq believes that this will promote wider distribution of
data and benefit investors wishing to use that data in making
investment decisions.
The establishment of non-professional fees is a well-established
practice of the network processors that distribute real-time
consolidated data for Nasdaq, NYSE, and Amex stocks. It has also been
an approved practice of the Nasdaq with respect to proprietary
products, including the Nasdaq Quotation Dissemination Service. As
such, Nasdaq believes that non-professional fees have been determined
to be consistent with the Act and also to be in the best interests of
investors and the public.
Nasdaq is proposing to establish the non-professional fee for
OpenView as a twelve-month pilot to determine whether the proposed fee
will in fact spur competition and increase transparency, as non-
professional fees have done in the past.
2. Statutory Basis
Nasdaq believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\5\ in general, and with Section
6(b)(4) of the Act,\6\ in particular, in that establishment of a $1 per
month non-professional fee for OpenView will encourage broader
dissemination of that data and thereby increase transparency in those
securities.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f.
\6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
Nasdaq 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
Written comments were neither solicited nor received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing 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 this filing, or such shorter time as the
Commission may designate, it has become effective pursuant to Section
19(b)(3)(A) of the Act\7\ and Rule 19b-4(f)(6) thereunder.\8\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
A proposed rule change filed under 19b-4(f)(6) normally may not
become operative prior to 30 days after the date of filing.\9\ However,
Rule 19b-4(f)(6)(iii)\10\ 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 waiving
the 30-day operative delay is consistent with the protection of
investors and the public interest because such waiver would permit
Nasdaq to implement the one-year pilot on April 1, 2007, lowering the
charge for the receipt of OpenView by non-professionals from $6 per
month to $1 per month, which should expand the distribution of the
information. For this reason, the Commission designates the proposed
rule change to be operative upon filing with the Commission.\11\
---------------------------------------------------------------------------
\9\ 17 CFR 240.19b-4(f)(6)(iii). In addition, 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. The Exchange has requested that the Commission waive
the 5-day pre-filing notice requirement. The Commission has
determined to grant this request.
\10\ Id.
\11\ For the purposes only of waiving the 30-day operative
delay, the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------
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
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 rule-comments@sec.gov. Please include
File Number SR-NASDAQ-2007-035 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-NASDAQ-2007-035.
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 Nasdaq. 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-NASDAQ-2007-035 and should be submitted on or before May
9, 2007.
[[Page 19569]]
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
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\12\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-7320 Filed 4-17-07; 8:45 am]
BILLING CODE 8010-01-P
