Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to NYSE Arca Marketplace Trading Sessions, 26666-26667 [E7-9045]
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26666
Federal Register / Vol. 72, No. 90 / Thursday, May 10, 2007 / Notices
organization.13 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.
should be submitted on or before May
31, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–8914 Filed 5–9–07; 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
pwalker on PROD1PC71 with NOTICES
• 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–NASD–2007–026 on the
subject line.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55707; File No. SR–
NYSEArca–2007–41]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to NYSE Arca
Marketplace Trading Sessions
May 4, 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 20,
2007 NYSE Arca, Inc. (‘‘NYSE Arca’’ or
‘‘Exchange’’), through its wholly owned
Paper Comments
subsidiary NYSE Arca Equities, Inc.
• Send paper comments in triplicate
(‘‘NYSE Arca Equities’’), filed with the
to Nancy M. Morris, Secretary,
Securities and Exchange Commission
Securities and Exchange Commission,
(‘‘Commission’’) the proposed rule
100 F Street, NE., Washington, DC
change as described in Items I and II
20549–1090.
below, which Items have been
substantially prepared by the Exchange.
All submissions should refer to File
The Exchange filed the proposal
Number SR–NASD–2007–026. This file
pursuant to Section 19(b)(3)(A) of the
number should be included on the
subject line if e-mail is used. To help the Act 3 and Rule 19b–4(f)(6) thereunder,4
which renders the proposed rule change
Commission process and review your
effective upon filing with the
comments more efficiently, please use
only one method. The Commission will 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
The Exchange proposes, through
Commission, and all written
NYSE Arca Equities, to update the list
communications relating to the
in NYSE Arca Equities Rule 7.34 of
proposed rule change between the
Commission and any person, other than securities eligible to trade in one or
more, but not all three, of the
those that may be withheld from the
Exchange’s trading sessions. The
public in accordance with the
Exchange proposes to add to the lists
provisions of 5 U.S.C. 552, will be
the following investment company units
available for inspection and copying at
(ICUs) 5 of funds that are trading on
the principal office of NASD. All
comments received will be posted
14 17 CFR 200.30–3(a)(12).
without change; the Commission does
1 15 U.S.C.78s(b)(1).
not edit personal identifying
2 17 CFR 240.19b–4.
information from submissions. You
3 15 U.S.C. 78s(b)(3)(A).
should submit only information that
4 17 CFR 240.19b–4(f)(6).
5 NYSE Arca Equities Rule 5.1(b)(15) defines an
you wish to make available publicly. All
ICU as a security representing an interest in a
submissions should refer to the File
registered investment company that could be
Number SR–NASD–2007–026 and
13 17
organized as a unit investment trust, an open-end
management investment company, or a similar
entity.
CFR 240.19b–4(f)(3).
VerDate Aug<31>2005
15:04 May 09, 2007
Jkt 211001
PO 00000
Frm 00079
Fmt 4703
Sfmt 4703
NYSE Arca, L.L.C. (‘‘NYSE Arca
Marketplace’’), the equities trading
facility of NYSE Arca Equities, pursuant
to unlisted trading privileges (‘‘UTP’’):
(1) SPDR 6 S&P 7 International Small
Cap ETF; and (2) SPDR S&P World
ex-US ETF. The text of the proposed
rule change is available on the
Exchange’s Web site (https://
www.nyse.com), at the principal office
of the Exchange, 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 change. 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
Statutory Basis for, the Proposed Rule
Change
1. Purpose
NYSE Arca Equities Rule 7.34
currently provides, in part, that NYSE
Arca Marketplace shall have three
trading sessions each day: An Opening
Session (1 a.m. Pacific Time (‘‘PT’’) to
6:30 a.m. PT), a Core Trading Session
(6:30 a.m. PT to 1 p.m. PT) and a Late
Trading Session (1 p.m. PT to 5 p.m.
PT), and that the Core Trading Session
for securities described in NYSE Arca
Equities Rules 5.1(b)(13), 5.1(b)(18),
5.2(j)(3), 8.100, 8.200, 8.201, 8.202,
8.203, 8.300, and 8.400 (each, a
‘‘Derivative Securities Product’’) shall
conclude at 1:15 p.m. PT.8
NYSE Arca Equities Rule 7.34
includes a list of those securities which
are eligible to trade in one or more, but
not all three, of the Exchange’s trading
sessions. The Exchange maintains on its
Web site (https://www.nysearca.com) a
list that identifies all securities traded
6 SPDR is a registered trademark of The
McGraw-Hill Companies, Inc.
7 S&P is a registered trademark of The McGrawHill Companies, Inc.
8 NYSE Arca Equities Rules 5.1(b)(13), 5.2(j)(3),
8.100, 8.200, 8.201, 8.202, 8.203, 8.300, and 8.400
relate to Unit Investment Trusts, ICUs, Portfolio
Depositary Receipts, Trust Issued Receipts,
Commodity-Based Trust Shares, Currency Trust
Shares, Commodity Index Trust Shares, Partnership
Units, and Paired Trust Shares, respectively. See
Securities Exchange Act Release No. 54997
(December 21, 2006), 71 FR 78501 (December 29,
2006) (SR–NYSEArca–2006–77) (amending NYSE
Arca Equities Rule 7.34).
E:\FR\FM\10MYN1.SGM
10MYN1
Federal Register / Vol. 72, No. 90 / Thursday, May 10, 2007 / Notices
on the NYSE Arca Marketplace that do
not trade for the duration of each of the
three sessions specified in NYSE Arca
Equities Rule 7.34. The Exchange
proposes to add the following securities
to these lists: (1) SPDR S&P
International Small Cap ETF; and (2)
SPDR S&P World ex-US ETF. These
ICUs currently trade on the Exchange on
a UTP basis pursuant to generic listing
standards for foreign derivative
securities products described in NYSE
Arca Equities Rule 5.2(j)(3) that were
adopted by the Exchange pursuant to
Rule 19b–4(e) under the Act.9
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act,10 in general, and
furthers the objectives of Section
6(b)(5),11 in particular, in that it is
designed to facilitate transactions in
securities, to promote just and equitable
principles of trade, to enhance
competition, and to protect investors
and the public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
pwalker on PROD1PC71 with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not:
(i) Significantly affect the protection
of investors or the public interest;
(ii) Impose any significant burden on
competition; and
(iii) Become operative for 30 days
from the date on which it was filed, or
such shorter time as the Commission
may designate, if consistent with the
protection of investors and the public
interest, it has become effective
pursuant to Section 19(b)(3)(A) of the
9 See Securities Exchange Act Release No. 55621
(April 12, 2007), 72 FR 19571 (April 18, 2007) (SR–
NYSEArca–2006–86).
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(5).
VerDate Aug<31>2005
15:04 May 09, 2007
Jkt 211001
Act 12 and Rule 19b–4(f)(6)
thereunder.13
The Exchange has asked the
Commission to waive the 30-day
operative delay. The Commission
believes that such waiver is consistent
with the protection of investors and the
public interest because the proposed
rule change should provide
transparency and more clarity with
respect to the trading hours eligibility of
certain derivative securities products
and should promote consistency in the
trading halts of derivative securities.
The Commission notes that this filing
does not change the trading hours of the
Derivative Securities Products listed in
NYSE Arca Equities Rule 7.34, but
codifies trading hour sessions that have
been established through other rule
changes or through the use of the
Exchange’s generic listing standards
pursuant to Rule 19b–4(e) under the
Act. For these reasons, the Commission
designates the proposed rule change as
operative immediately.14
At any time within 60 days of the
filing of the proposed rule change the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSEArca–2007–41 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
12 15
U.S.C. 78s(b)(3)(A).
CRF 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6) requires an exchange to give 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 days prior
to the date of filing of the proposed rule change, or
such shorter time as designated by the Commission.
The Commission has determined to waive the fiveday pre-filing notice requirement in this case.
14 For purposes only of waiving the operative date
of this proposal, the Commission has considered
the rule’s impact on efficiency, competition, and
capital formation. See 15 U.S.C. 78c(f).
26667
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–NYSEArca–2007–41. 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 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–NYSEArca–2007–41 and should be
submitted by or before May 31, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–9045 Filed 5–9–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55708; File No. SR–
NYSEArca–2007–39]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to NYSE Arca
Marketplace Trading Sessions
13 17
PO 00000
Frm 00080
Fmt 4703
Sfmt 4703
May 4, 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 20,
2007 NYSE Arca, Inc. (‘‘NYSE Arca’’ or
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\10MYN1.SGM
10MYN1
]]>Agencies
[Federal Register Volume 72, Number 90 (Thursday, May 10, 2007)]
[Notices]
[Pages 26666-26667]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-9045]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55707; File No. SR-NYSEArca-2007-41]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Relating to NYSE
Arca Marketplace Trading Sessions
May 4, 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 20, 2007 NYSE Arca, Inc. (``NYSE Arca'' or ``Exchange''),
through its wholly owned subsidiary NYSE Arca Equities, Inc. (``NYSE
Arca Equities''), 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 proposal pursuant to Section 19(b)(3)(A) of the
Act \3\ and Rule 19b-4(f)(6) thereunder,\4\ which renders the proposed
rule change 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
The Exchange proposes, through NYSE Arca Equities, to update the
list in NYSE Arca Equities Rule 7.34 of securities eligible to trade in
one or more, but not all three, of the Exchange's trading sessions. The
Exchange proposes to add to the lists the following investment company
units (ICUs) \5\ of funds that are trading on NYSE Arca, L.L.C. (``NYSE
Arca Marketplace''), the equities trading facility of NYSE Arca
Equities, pursuant to unlisted trading privileges (``UTP''): (1)
SPDR[supreg] \6\ S&P[supreg] \7\ International Small Cap ETF; and (2)
SPDR[supreg] S&P[supreg] World ex-US ETF. The text of the proposed rule
change is available on the Exchange's Web site (https://www.nyse.com),
at the principal office of the Exchange, and at the Commission's Public
Reference Room.
---------------------------------------------------------------------------
\5\ NYSE Arca Equities Rule 5.1(b)(15) defines an ICU as a
security representing an interest in a registered investment company
that could be organized as a unit investment trust, an open-end
management investment company, or a similar entity.
\6\ SPDR[supreg] is a registered trademark of The McGraw-Hill
Companies, Inc.
\7\ S&P[supreg] is a registered trademark of The McGraw-Hill
Companies, Inc.
---------------------------------------------------------------------------
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. 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
Statutory Basis for, the Proposed Rule Change
1. Purpose
NYSE Arca Equities Rule 7.34 currently provides, in part, that NYSE
Arca Marketplace shall have three trading sessions each day: An Opening
Session (1 a.m. Pacific Time (``PT'') to 6:30 a.m. PT), a Core Trading
Session (6:30 a.m. PT to 1 p.m. PT) and a Late Trading Session (1 p.m.
PT to 5 p.m. PT), and that the Core Trading Session for securities
described in NYSE Arca Equities Rules 5.1(b)(13), 5.1(b)(18),
5.2(j)(3), 8.100, 8.200, 8.201, 8.202, 8.203, 8.300, and 8.400 (each, a
``Derivative Securities Product'') shall conclude at 1:15 p.m. PT.\8\
---------------------------------------------------------------------------
\8\ NYSE Arca Equities Rules 5.1(b)(13), 5.2(j)(3), 8.100,
8.200, 8.201, 8.202, 8.203, 8.300, and 8.400 relate to Unit
Investment Trusts, ICUs, Portfolio Depositary Receipts, Trust Issued
Receipts, Commodity-Based Trust Shares, Currency Trust Shares,
Commodity Index Trust Shares, Partnership Units, and Paired Trust
Shares, respectively. See Securities Exchange Act Release No. 54997
(December 21, 2006), 71 FR 78501 (December 29, 2006) (SR-NYSEArca-
2006-77) (amending NYSE Arca Equities Rule 7.34).
---------------------------------------------------------------------------
NYSE Arca Equities Rule 7.34 includes a list of those securities
which are eligible to trade in one or more, but not all three, of the
Exchange's trading sessions. The Exchange maintains on its Web site
(https://www.nysearca.com) a list that identifies all securities traded
[[Page 26667]]
on the NYSE Arca Marketplace that do not trade for the duration of each
of the three sessions specified in NYSE Arca Equities Rule 7.34. The
Exchange proposes to add the following securities to these lists: (1)
SPDR[supreg] S&P[supreg] International Small Cap ETF; and (2)
SPDR[supreg] S&P[supreg] World ex-US ETF. These ICUs currently trade on
the Exchange on a UTP basis pursuant to generic listing standards for
foreign derivative securities products described in NYSE Arca Equities
Rule 5.2(j)(3) that were adopted by the Exchange pursuant to Rule 19b-
4(e) under the Act.\9\
---------------------------------------------------------------------------
\9\ See Securities Exchange Act Release No. 55621 (April 12,
2007), 72 FR 19571 (April 18, 2007) (SR-NYSEArca-2006-86).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\10\ in general, and furthers the
objectives of Section 6(b)(5),\11\ in particular, in that it is
designed to facilitate transactions in securities, to promote just and
equitable principles of trade, to enhance competition, and to protect
investors and the public interest.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
The Exchange has neither solicited nor received written comments on
the proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not:
(i) Significantly affect the protection of investors or the public
interest;
(ii) Impose any significant burden on competition; and
(iii) Become operative for 30 days from the date on which it was
filed, or such shorter time as the Commission may designate, if
consistent with the protection of investors and the public interest, it
has become effective pursuant to Section 19(b)(3)(A) of the Act \12\
and Rule 19b-4(f)(6) thereunder.\13\
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CRF 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires an exchange to give 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 days
prior to the date of filing of the proposed rule change, or such
shorter time as designated by the Commission. The Commission has
determined to waive the five-day pre-filing notice requirement in
this case.
---------------------------------------------------------------------------
The Exchange has asked the Commission to waive the 30-day operative
delay. The Commission believes that such waiver is consistent with the
protection of investors and the public interest because the proposed
rule change should provide transparency and more clarity with respect
to the trading hours eligibility of certain derivative securities
products and should promote consistency in the trading halts of
derivative securities. The Commission notes that this filing does not
change the trading hours of the Derivative Securities Products listed
in NYSE Arca Equities Rule 7.34, but codifies trading hour sessions
that have been established through other rule changes or through the
use of the Exchange's generic listing standards pursuant to Rule 19b-
4(e) under the Act. For these reasons, the Commission designates the
proposed rule change as operative immediately.\14\
---------------------------------------------------------------------------
\14\ For purposes only of waiving the operative date of this
proposal, the Commission has considered the 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 the proposed rule
change the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send e-mail to rule-comments@sec.gov. Please include File
Number SR-NYSEArca-2007-41 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-NYSEArca-2007-41. 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 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-NYSEArca-2007-41 and should be submitted by or before
May 31, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\15\
---------------------------------------------------------------------------
\15\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-9045 Filed 5-9-07; 8:45 am]
BILLING CODE 8010-01-P
