Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Increase the Class Quoting Limit in the Option Class NYSE Group, Inc. (NYX); Republication, 25350-25351 [R7-4589]

Download as PDF 25350 Federal Register / Vol. 72, No. 86 / Friday, May 4, 2007 / Notices only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room. Copies of such filing also will be available for inspection and copying at the principal office of the CBOE. 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–CBOE–2007–40 and should be submitted on or before May 25, 2007. ‘‘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 pursuant to Section 19(b)(3)(A) of the Act 3 and Rule 19b–4(f)(1) thereunder, which renders it effective upon filing with the Commission.4 The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. volume, whether actual or expected.’’ 6 The effect of an increase in the CQL is procompetitive in that it increases the number of market participants that may quote electronically in a product. The purpose of this filing is to increase the CQL in the option class NYSE Group, Inc. (NYX) from its current limit of 40 to 45.7 Increasing the CQL in NYX options will enable the Exchange to enhance the liquidity offered, thereby offering deeper and more liquid markets. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change CBOE believes the proposed rule change is consistent with the Act and the rules and regulations under the Act applicable to a national securities exchange and, in particular, the requirements of Section 6(b) of the Act.8 Specifically, the Exchange believes the proposed rule change is consistent with the Section 6(b)(5) 9 requirements that the rules of an exchange be designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts and, in general, to protect investors and the public interest. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.16 Florence E. Harmon, Deputy Secretary. 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 Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. [FR Doc. E7–8505 Filed 5–3–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55418; File No. SR–CBOE– 2007–22] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Increase the Class Quoting Limit in the Option Class NYSE Group, Inc. (NYX); Republication March 7, 2007. cprice-sewell on DSK89S0YB1PROD with NOTICES Editorial Note: FR Doc. E7–4589 originally published at pages 11924–11925 in the issue of Wednesday, March 14, 2007. The original publication contained footnote omissions. As a result, the corrected document is being republished in its entirety. 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 February 23, 2007, the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’ or CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. CBOE proposes to increase the class quoting limit in the option class NYSE Group, Inc. (NYX). The text of the proposed rule change is available at the CBOE, the Commission’s Public Reference Room, and https:// www.cboe.com. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose CBOE Rule 8.3A, Maximum Number of Market Participants Quoting Electronically per Product, establishes class quoting limits (‘‘CQLs’’) for each class traded on the Hybrid Trading System.5 A CQL is the maximum number of quoters that may quote electronically in a given product and the current levels are established from 25– 40, depending on the trading activity of the particular product. Rule 8.3A, Interpretation .01(c) provides a procedure by which the President of the Exchange may increase the CQL for a particular product. In this regard, the President of the Exchange may increase the CQL in exceptional circumstances, which are defined in the rule as ‘‘* * * substantial trading 16 17 3 15 1 15 4 17 VerDate Nov<24>2008 14:51 Apr 20, 2010 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(1). 5 See Rule 8.3A.01. Jkt 220001 PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 2. Statutory Basis B. Self Regulatory Organization’s Statement on Burden on Competition CBOE 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 Exchange Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange neither solicited nor received written comments on the proposal. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change constitutes a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule, it has become effective pursuant to Section 19(b)(3)(A) 10 and Rule 19b–4(f)(1) 6 ‘‘Any actions taken by the President of the Exchange pursuant to this paragraph will be submitted to the SEC in a rule filing pursuant to Section 19(b)(3)(A) of the Exchange Act.’’ Rule 8.3A.01(c). 7 The Exchange is requesting this increase in the CQL due to increased trading volume in NYX. Telephone conversation between Angela Muehr, Attorney, Division of Market Regulation, Commission, and Patrick Sexton, Associate General Counsel, CBOE, on March 7, 2007. 8 15 U.S.C. 78f(b). 9 15 U.S.C. 78f(b)(5). 10 15 U.S.C. 78s(b)(3)(A). E:\FR\FM\04MYN1.SGM 04MYN1 Federal Register / Vol. 72, No. 86 / Friday, May 4, 2007 / Notices thereunder.11 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: cprice-sewell on DSK89S0YB1PROD with NOTICES Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send e-mail to rulecomments@sec.gov. Please include File Number SR–CBOE–2007–22 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–CBOE–2007–22. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/ rules/sro/shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room. Copies of such filing will also be available for inspection and copying at the principal office of the CBOE. 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 11 17 CFR 240.19b–4(f)(1). VerDate Nov<24>2008 14:51 Apr 20, 2010 SR–CBOE–2007–22 and should be submitted on or before April 4, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.12 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–4589 Filed 3–13–07; 8:45 am] Editorial Note: FR Doc. E7–4589 originally published at pages 11924–11925 in the issue of Wednesday, March 14, 2007. The original publication contained footnote omissions. As a result, the corrected document is being republished in its entirety. [FR Doc. R7–4589 Filed 5–3–07; 8:45 am] Will this change affect all visa applicants? Visa applicants subject to the Biometric Visa Program will be required to provide ten fingerscans with their first visa application following the transition. When will this change take place? The Department plans to begin deployment of the ten fingerscan system to all visa issuing consular posts abroad beginning in April 2007, with completion scheduled for the end of 2007. Dated: April 2, 2007. Maura Harty, Assistant Secretary, Consular Affairs, Department of State. BILLING CODE 1505–01–D DEPARTMENT OF STATE [FR Doc. E7–8604 Filed 5–3–07; 8:45 am] [Public Notice 5778] BILLING CODE 4710–06–P Biometric Visa Program Transition to Ten Fingerscans State Department. ACTION: Notice. AGENCY: FOR FURTHER INFORMATION CONTACT: Ron Acker, Legislation and Regulations Division, Visa Services, Department of State, Washington, DC 20520–0106, (202) 663–1205 or e-mail ackerrl@state.gov. SUMMARY: This public notice announces the change in the standard for fingerscans of the Biometric Visa Program from two fingerscans to ten fingerscans. The establishment of the Biometric Visa Program was announced to the public in December 2004 as a response to the requirements established by the Enhanced Border Security and Visa Entry Reform Act of 2002. When the program began, available technology only allowed for efficient capture and comparisons of two fingerscans. Now, improvements in technology allow the Program to incorporate a ten fingerscan standard. Why is the Department planning to take ten fingerscans from visa applicants? The Biometric Visa Program works closely with the US–VISIT Program of the Department of Homeland Security (DHS). Both programs currently require aliens to submit two fingerscans as part of their respective application procedures. In consultation with DHS and the Department of Justice, the Department is instituting the ten fingerscan standard to improve our ability to detect and thwart persons ineligible for visas by raising the accuracy rate in matching fingerscans. 12 17 Jkt 220001 25351 PO 00000 CFR 200.30–3(a)(12). Frm 00110 Fmt 4703 Sfmt 4703 DEPARTMENT OF VETERANS AFFAIRS Fund Availability Under the VA Homeless Providers Grant and Per Diem Program Department of Veterans Affairs. Notice. AGENCY: ACTION: SUMMARY: The Department of Veterans Affairs (VA) is announcing the availability of funds for applications for assistance under the Capital Grant component of VA’s Homeless Providers Grant and Per Diem Program. This notice contains information concerning the program, funding priorities, application process, and amount of funding available. DATES: An original completed and collated capital grant application (plus three completed collated copies) for assistance under the VA’s Homeless Providers Grant and Per Diem Program must be received in the Grant and Per Diem Field Office, by 4 p.m. Eastern Time on June 28, 2007. Applications may not be sent by facsimile (FAX). In the interest of fairness to all competing applicants, this deadline is firm as to date and hour, and VA will treat as ineligible for consideration any application that is received after the deadline. Applicants should take this practice into account and make early submission of their material to avoid any risk of loss of eligibility brought about by unanticipated delays or other delivery-related problems. For a Copy of the Application Package: Download directly from VA’s Grant and Per Diem Program Web page at: https://www.va.gov/homeless/ page.cfm?pg=3 or https:// E:\FR\FM\04MYN1.SGM 04MYN1

Agencies

[Federal Register Volume 72, Number 86 (Friday, May 4, 2007)]
[Notices]
[Pages 25350-25351]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: R7-4589]


-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55418; File No. SR-CBOE-2007-22]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed 
Rule Change to Increase the Class Quoting Limit in the Option Class 
NYSE Group, Inc. (NYX); Republication

March 7, 2007.

    Editorial Note: FR Doc. E7-4589 originally published at pages 
11924-11925 in the issue of Wednesday, March 14, 2007. The original 
publication contained footnote omissions. As a result, the corrected 
document is being republished in its entirety.

    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 February 23, 2007, the Chicago Board Options Exchange, Incorporated 
(``CBOE'' 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 pursuant to 
Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(1) thereunder, 
which renders it effective upon filing with the Commission.\4\ 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)(1).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    CBOE proposes to increase the class quoting limit in the option 
class NYSE Group, Inc. (NYX). The text of the proposed rule change is 
available at the CBOE, the Commission's Public Reference Room, and 
https://www.cboe.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, 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 
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 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    CBOE Rule 8.3A, Maximum Number of Market Participants Quoting 
Electronically per Product, establishes class quoting limits (``CQLs'') 
for each class traded on the Hybrid Trading System.\5\ A CQL is the 
maximum number of quoters that may quote electronically in a given 
product and the current levels are established from 25-40, depending on 
the trading activity of the particular product.
---------------------------------------------------------------------------

    \5\ See Rule 8.3A.01.
---------------------------------------------------------------------------

    Rule 8.3A, Interpretation .01(c) provides a procedure by which the 
President of the Exchange may increase the CQL for a particular 
product. In this regard, the President of the Exchange may increase the 
CQL in exceptional circumstances, which are defined in the rule as ``* 
* * substantial trading volume, whether actual or expected.'' \6\ The 
effect of an increase in the CQL is procompetitive in that it increases 
the number of market participants that may quote electronically in a 
product. The purpose of this filing is to increase the CQL in the 
option class NYSE Group, Inc. (NYX) from its current limit of 40 to 
45.\7\
---------------------------------------------------------------------------

    \6\ ``Any actions taken by the President of the Exchange 
pursuant to this paragraph will be submitted to the SEC in a rule 
filing pursuant to Section 19(b)(3)(A) of the Exchange Act.'' Rule 
8.3A.01(c).
    \7\ The Exchange is requesting this increase in the CQL due to 
increased trading volume in NYX. Telephone conversation between 
Angela Muehr, Attorney, Division of Market Regulation, Commission, 
and Patrick Sexton, Associate General Counsel, CBOE, on March 7, 
2007.
---------------------------------------------------------------------------

    Increasing the CQL in NYX options will enable the Exchange to 
enhance the liquidity offered, thereby offering deeper and more liquid 
markets.
2. Statutory Basis
    CBOE believes the proposed rule change is consistent with the Act 
and the rules and regulations under the Act applicable to a national 
securities exchange and, in particular, the requirements of Section 
6(b) of the Act.\8\ Specifically, the Exchange believes the proposed 
rule change is consistent with the Section 6(b)(5) \9\ requirements 
that the rules of an exchange be designed to promote just and equitable 
principles of trade, to prevent fraudulent and manipulative acts and, 
in general, to protect investors and the public interest.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    CBOE 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 Exchange Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    The Exchange neither solicited nor received written comments on the 
proposal.

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

    Because the foregoing proposed rule change constitutes a stated 
policy, practice, or interpretation with respect to the meaning, 
administration, or enforcement of an existing rule, it has become 
effective pursuant to Section 19(b)(3)(A) \10\ and Rule 19b-4(f)(1)

[[Page 25351]]

thereunder.\11\ 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.
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A).
    \11\ 17 CFR 240.19b-4(f)(1).
---------------------------------------------------------------------------

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 e-mail to rule-comments@sec.gov. Please include File 
Number SR-CBOE-2007-22 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-CBOE-2007-22. This file 
number should be included on the subject line if e-mail is used. To 
help the Commission process and review your comments more efficiently, 
please use only one method. The Commission will post all comments on 
the Commission's Internet Web site (https://www.sec.gov/rules/sro/shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for inspection and 
copying in the Commission's Public Reference Room. Copies of such 
filing will also be available for inspection and copying at the 
principal office of the CBOE. 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-CBOE-2007-22 and should be submitted on or before April 
4, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\12\
---------------------------------------------------------------------------

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

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-4589 Filed 3-13-07; 8:45 am]

    Editorial Note: FR Doc. E7-4589 originally published at pages 
11924-11925 in the issue of Wednesday, March 14, 2007. The original 
publication contained footnote omissions. As a result, the corrected 
document is being republished in its entirety.

[FR Doc. R7-4589 Filed 5-3-07; 8:45 am]
BILLING CODE 1505-01-D
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