Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Transaction Fees for Electronically Executed Broker-Dealer Orders in IWM and QQQQ Options, 35273-35275 [E7-12388]
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Federal Register / Vol. 72, No. 123 / Wednesday, June 27, 2007 / Notices
of the Act,8 in particular, in that it is
designed to prevent fraudulent and
manipulative acts and practices,
promote just and equitable principles of
trade, foster cooperation and
coordination with persons engaged in
facilitating transactions in securities,
and 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 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.
jlentini on PROD1PC65 with NOTICES
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.
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, 100 F Street, NE., Washington,
DC 20549, on official business days
between the hours of 10 a.m. and 3 p.m.
Copies of such filing also will be
available for inspection and copying at
the principal offices 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–2007–44 and should
be submitted on or before July 18, 2007.
IV. Commission’s Findings and Order
Granting Accelerated Approval of the
Proposed Rule Change
After careful consideration, the
III. Solicitation of Comments
Commission finds that the proposed
Interested persons are invited to
rule change, as amended, is consistent
submit written data, views, and
with the requirements of the Act and the
arguments concerning the foregoing,
rules and regulations thereunder
including whether the proposed rule
applicable to a national securities
change is consistent with the Act.
exchange.9 In particular, the
Comments may be submitted by any of
Commission finds that the proposed
the following methods:
rule change is consistent with the
requirements of Section 6(b)(5) of the
Electronic Comments
Act,10 which requires, among other
• Use the Commission’s Internet
things, that the Exchange’s rules be
comment form (https://www.sec.gov/
designed to promote just and equitable
rules/sro.shtml); or
principles of trade, to foster cooperation
• Send an e-mail to ruleand coordination with persons engaged
comments@sec.gov. Please include File
in regulating, clearing, settling,
Number SR–Amex–2007–44 on the
processing information with respect to,
subject line.
and facilitating transactions in
securities, to remove impediments to
Paper Comments
and perfect the mechanism of a free and
• Send paper comments in triplicate
open market and a national market
to Nancy M. Morris, Secretary,
system and, in general, to protect
Securities and Exchange Commission,
investors and the public interest. The
100 F Street, NE., Washington, DC
Commission believes that the proposal
20549–1090.
should expand the use of Underlying
All submissions should refer to File
Indexes comprised of foreign securities
Number SR–Amex–2007–44. This file
and/or ADRs to the benefit of the
number should be included on the
marketplace and investors, so long as
subject line if e-mail is used. To help the such component securities, having their
Commission process and review your
respective primary foreign trading
comments more efficiently, please use
markets that are not members of ISG or
only one method. The Commission will parties to a comprehensive surveillance
post all comments on the Commission’s sharing agreement, do not represent in
the aggregate more than 20% of the
Internet Web site (https://www.sec.gov/
overall weight of the Underlying Index.
rules/sro.shtml). Copies of the
The Commission finds good cause for
submission, all subsequent
approving the proposed rule change, as
amendments, all written statements
modified by Amendment Nos. 1 and 2
with respect to the proposed rule
change that are filed with the
9 In approving this proposed rule change, the
Commission, and all written
Commission notes that it has considered the
communications relating to the
proposed rule’s impact on efficiency, competition,
8 15
and capital formation. See 15 U.S.C. 78c(f).
10 15 U.S.C. 78f(b)(5).
U.S.C. 78f(b)(5).
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15:50 Jun 26, 2007
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35273
thereto, before the 30th day after the
date of publication of notice of filing
thereof in the Federal Register.11 The
Commission notes that it has previously
approved substantially similar
provisions with respect to the expanded
eligibility of component securities
included in indexes underlying indexlinked securities 12 and presently is not
aware of any regulatory issue that
should cause it to revisit that finding or
would preclude the trading of such
securities on the Exchange. Therefore,
the Commission finds good cause,
consistent with Section 19(b)(2) of the
Act,13 to approve the proposed rule
change on an accelerated basis.
V. Conclusion
It is therefore Ordered, pursuant to
Section 19(b)(2) of the Act,14 that the
proposed rule change (SR–Amex–2007–
44), as modified by Amendment Nos. 1
and 2 thereto, be, and it hereby is,
approved on an accelerated basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–12393 Filed 6–26–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55927; File No. SR–CBOE–
2007–55]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Transaction
Fees for Electronically Executed
Broker-Dealer Orders in IWM and
QQQQ Options
June 20, 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 May 29,
2007, the Chicago Board Options
Exchange, Incorporated (‘‘CBOE’’ or
‘‘Exchange’’) filed with the Securities
and Exchange Commission
11 In Amendment No. 2, the Exchange requested
for accelerated approval of the proposal.
12 See Securities Exchange Act Release No. 55687
(May 1, 2007), 72 FR 25824 (May 7, 2007) (SR–
NYSE–2007–27) (approving, among other things,
the eligibility requirements of component securities
underlying Equity Index-Linked Securities).
13 15 U.S.C. 78s(b)(2).
14 Id.
15 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
E:\FR\FM\27JNN1.SGM
27JNN1
35274
Federal Register / Vol. 72, No. 123 / Wednesday, June 27, 2007 / Notices
(‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which Items have been
substantially prepared by the CBOE.
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
The Exchange proposes to amend the
CBOE Fees Schedule (‘‘Fees Schedule’’)
to reduce transaction fees for
electronically executed broker-dealer
orders in options on the iShares Russell
2000 Index Fund (‘‘IWM’’) and the
Nasdaq-100 Index Tracking Stock
(‘‘QQQQ’’). The text of the proposed
rule change is available at the CBOE, on
the Exchange’s Web site at https://
www.cboe.org/legal, and in the
Commission’s Public Reference Room.
transaction fee helps allocate to brokerdealer orders a fair share of the costs of
running the automatic execution feature
of Hybrid and related Exchange systems.
The Exchange proposes to reduce the
broker-dealer electronic transaction fee
from $.45 per contract to $.25 per
contract in IWM and QQQQ options, so
that both electronic and manual brokerdealer executions in these products
would be assessed $.25 per contract.
The Exchange believes it is reasonable
and appropriate not to assess a higher
fee for electronic broker-dealer
executions in IWM and QQQQ options
because these options are among the
largest options contracts on the
Exchange in terms of trading volume
and generate significant revenues for the
Exchange.
The Exchange implemented the
proposed fee changes on June 1, 2007.
2. Statutory Basis
The proposed rule change is
consistent with Section 6(b) of the Act,5
in general, and furthers the objectives of
Section 6(b)(4) 6 of the Act, in particular,
in that it is designed to provide for the
equitable allocation of reasonable dues,
fees, and other charges among CBOE
members and other persons using its
facilities.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received from
Members, Participants or Others
1. Purpose
Currently, the Exchange assesses a
transaction fee of $.45 per contract on
broker-dealer orders that are
electronically executed on the CBOE
Hybrid Trading System (‘‘Hybrid’’).3
Manually executed broker-dealer orders
are assessed a transaction fee of $.25 per
contract.4 The broker-dealer electronic
jlentini on PROD1PC65 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, 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 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.
No written comments were solicited
or received with respect to the proposed
rule change.
3 ‘‘Broker-dealer’’ orders are defined in Footnote
16 of the Fees Schedule as broker-dealer orders
(orders with ‘‘B’’ origin code), non-member marketmaker orders (orders with ‘‘N’’ origin code), and
orders from specialists in the underlying security
(orders with ‘‘Y’’ origin code).
4 However, electronically and manually executed
broker-dealer orders in options on the S&P 100
Index (‘‘OEX’’ and ‘‘XEO’’), S&P 500 (‘‘SPX’’), and
Morgan Stanley Retail Index (‘‘MVR’’) are charged
$.30 per contract, $.40 per contract, and $.25 per
contract, respectively. Telephone conversation
between Jaime Galvan, Assistant Secretary, CBOE,
and Sara Gillis, Attorney, Division of Market
Regulation, Commission, on June 18, 2007.
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15:50 Jun 26, 2007
Jkt 211001
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 purposes of the Act.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change
establishes or changes a due, fee, or
other charge imposed by the Exchange,
it has become effective pursuant to
Section 19(b)(3)(A) of the Act 7 and
subparagraph (f)(2) of Rule 19b–4 8
thereunder. 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
5 15
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
7 15 U.S.C. 78s(b)(3)(A).
8 17 CFR 240.19b–4(f)(2).
6 15
PO 00000
Frm 00060
Fmt 4703
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.9
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–CBOE–2007–55 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–2007–55. 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 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–2007–55 and should
be submitted on or before July 18, 2007.
9 Id.
Sfmt 4703
E:\FR\FM\27JNN1.SGM
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Federal Register / Vol. 72, No. 123 / Wednesday, June 27, 2007 / Notices
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–12388 Filed 6–26–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55926; File No. SR–CBOE–
2007–61]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of a Proposed
Rule Change Relating to Extension of
the iShares Russell 2000 Index Fund
(IWM) Option Pilot Program Until
January 18, 2008
June 20, 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 June 12,
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, II, and
III below, which Items have been
substantially prepared by the Exchange.
The Exchange filed the proposed rule
change as a ‘‘non-controversial’’
proposed rule change pursuant to
Section 19(b)(3)(A) 3 of the Act and Rule
19b–4(f)(6) thereunder,4 which renders
the proposal effective upon filing with
the Commission. The Commission is
publishing this notice to solicit
comments on the proposed rule change
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
jlentini on PROD1PC65 with NOTICES
CBOE proposes to extend an existing
pilot program that increases the position
and exercise limits for options on the
iShares Russell 2000 Index Fund (‘‘IWM
options’’) traded on the Exchange
(‘‘IWM Option Pilot Program’’). The text
of the rule proposal is available on the
Exchange’s Web site (https://
www.cboe.org/legal), at the Exchange’s
principal office, and at the
Commission’s Public Reference Room.
10 17
CFR 200.30–3(a)(12).
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).
1 15
VerDate Aug<31>2005
15:50 Jun 26, 2007
Jkt 211001
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 text of these
statements may be examined at the
places specified in Item IV below. CBOE
has prepared summaries, set forth in
Sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The purpose of the proposed rule
change is to extend the IWM Option
Pilot Program for an additional sixmonth period, through January 18,
2008,5 and to make non-substantive
changes to simplify the rule text
describing the IWM Option Pilot
Program. The IWM Option Pilot
Program increases the position and
exercise limits for IWM options traded
on the Exchange.6 The Exchange is not
proposing any other changes to the IWM
Option Pilot Program. The Exchange
represents that it has not encountered
any problems or difficulties relating to
the IWM Option Pilot Program since its
inception.
The proposal that established the
IWM Option Pilot Program was
designated by the Commission to be
effective and operative upon filing and
provided that it would run from January
22, 2007 through July 22, 2007.7 In that
filing, the Exchange explained that in
June 2005, as a result of a 2-for-1 stock
split, the position limit for IWM options
was temporarily increased from 250,000
contracts (covering 25,000,000 IWM
shares) to 500,000 contracts (covering
50,000,000 IWM shares). At the time of
the split, the furthest IWM option
expiration date was January 2007.
Therefore, the temporary position limit
increase was scheduled to automatically
revert to the pre-split level (as provided
for in connection with the Rule 4.11
5 January 18, 2008 is the third Friday of the
month (or expiration Friday), which is the day on
which January 2008 IWM options will expire.
6 Exercise limits for IWM options are equivalent
to the position limits prescribed for IWM options
in Rule 4.11.07 and the increased exercise limits are
only in effect during the IWM Option Pilot Period.
See Rule 4.12.02.
7 See Securities Exchange Act Release No. 55176
(January 25, 2007), 72 FR 4741 (February 1, 2007).
PO 00000
Frm 00061
Fmt 4703
Sfmt 4703
35275
Pilot Program) of 25,000 contracts after
expiration in January 2007.
As the Exchange described in the
proposal that established the IWM
Option Pilot Program, the Exchange
believes that a position limit of 250,000
option contracts would prevent traders
from adequately hedging their options
positions, thereby impairing their ability
to provide liquidity. Specifically, the
Exchange stated that IWM options are
1⁄10 the size of options on the Russell
2000 Index (‘‘RUT’’), which have a
position limit of 50,000 contracts.8
Therefore, traders who trade IWM
options to hedge positions in RUT
options are likely to find a position limit
of 250,000 contracts in IWM options too
restrictive and insufficient to properly
hedge. For example, if a trader held
50,000 RUT options and wanted to
hedge that position with IWM options,
the trader would need, at a minimum,
500,000 IWM options to properly hedge
the position. The Exchange additionally
notes that index options on 1⁄10 the RUT
have a position limit of 500,000
contracts, which is consistent with and
corresponds to the increased position
limits permitted under the IWM Option
Position Limit Pilot.9 Therefore, the
Exchange continues to believe that a
position limit of 250,000 contracts is too
low and may adversely affect market
participants’ ability to provide liquidity
in this product.
As the Exchange also described in the
proposal that established the IWM
Option Pilot Program, IWM options
have grown to become one of the largest
options contracts in terms of trading
volume. For example, through May 29,
2007, year-to-date industry volume in
IWM options has averaged over 460,000
contracts per day, for a total of over 61
million contracts. CBOE alone has
averaged almost 250,000 IWM option
contracts per day during that time, for
a total of almost 33 million contracts. In
contrast, QQQQ options, which have a
position limit of 900,000 contracts, have
averaged almost 575,000 contracts per
day in 2007.
The Exchange believes that
maintaining the increased position and
exercise limits for IWM options will
lead to a more liquid and more
competitive market environment for
IWM options that will benefit customers
interested in this product. In fact, the
Exchange has received positive feedback
from market participants, who have
expressed a desire that the IWM Option
Pilot Program be renewed. For these
reasons, the Exchange believes that the
above stated reasons justify the IWM
8 See
9 See
E:\FR\FM\27JNN1.SGM
Rule 24.4(a).
id.
27JNN1
]]>Agencies
[Federal Register Volume 72, Number 123 (Wednesday, June 27, 2007)]
[Notices]
[Pages 35273-35275]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-12388]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55927; File No. SR-CBOE-2007-55]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change Relating to Transaction Fees for Electronically Executed
Broker-Dealer Orders in IWM and QQQQ Options
June 20, 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 May 29, 2007, the Chicago Board Options Exchange, Incorporated
(``CBOE'' or ``Exchange'') filed with the Securities and Exchange
Commission
[[Page 35274]]
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been substantially prepared by the
CBOE. 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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend the CBOE Fees Schedule (``Fees
Schedule'') to reduce transaction fees for electronically executed
broker-dealer orders in options on the iShares Russell 2000 Index Fund
(``IWM'') and the Nasdaq-100 Index Tracking Stock (``QQQQ''). The text
of the proposed rule change is available at the CBOE, on the Exchange's
Web site at https://www.cboe.org/legal, and in 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 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. 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
Currently, the Exchange assesses a transaction fee of $.45 per
contract on broker-dealer orders that are electronically executed on
the CBOE Hybrid Trading System (``Hybrid'').\3\ Manually executed
broker-dealer orders are assessed a transaction fee of $.25 per
contract.\4\ The broker-dealer electronic transaction fee helps
allocate to broker-dealer orders a fair share of the costs of running
the automatic execution feature of Hybrid and related Exchange systems.
---------------------------------------------------------------------------
\3\ ``Broker-dealer'' orders are defined in Footnote 16 of the
Fees Schedule as broker-dealer orders (orders with ``B'' origin
code), non-member market-maker orders (orders with ``N'' origin
code), and orders from specialists in the underlying security
(orders with ``Y'' origin code).
\4\ However, electronically and manually executed broker-dealer
orders in options on the S&P 100 Index (``OEX'' and ``XEO''), S&P
500 (``SPX''), and Morgan Stanley Retail Index (``MVR'') are charged
$.30 per contract, $.40 per contract, and $.25 per contract,
respectively. Telephone conversation between Jaime Galvan, Assistant
Secretary, CBOE, and Sara Gillis, Attorney, Division of Market
Regulation, Commission, on June 18, 2007.
---------------------------------------------------------------------------
The Exchange proposes to reduce the broker-dealer electronic
transaction fee from $.45 per contract to $.25 per contract in IWM and
QQQQ options, so that both electronic and manual broker-dealer
executions in these products would be assessed $.25 per contract. The
Exchange believes it is reasonable and appropriate not to assess a
higher fee for electronic broker-dealer executions in IWM and QQQQ
options because these options are among the largest options contracts
on the Exchange in terms of trading volume and generate significant
revenues for the Exchange.
The Exchange implemented the proposed fee changes on June 1, 2007.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b) of the
Act,\5\ in general, and furthers the objectives of Section 6(b)(4) \6\
of the Act, in particular, in that it is designed to provide for the
equitable allocation of reasonable dues, fees, and other charges among
CBOE members and other persons using its facilities.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
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 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 solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing rule change establishes or changes a due,
fee, or other charge imposed by the Exchange, it has become effective
pursuant to Section 19(b)(3)(A) of the Act \7\ and subparagraph (f)(2)
of Rule 19b-4 \8\ thereunder. 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.\9\
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A).
\8\ 17 CFR 240.19b-4(f)(2).
\9\ Id.
---------------------------------------------------------------------------
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-CBOE-2007-55 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-2007-55. 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 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-2007-55 and should be submitted on or before July
18, 2007.
[[Page 35275]]
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-12388 Filed 6-26-07; 8:45 am]
BILLING CODE 8010-01-P
