Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change as Modified by Amendment No. 1 Thereto Relating to API Fees, 35535-35537 [E7-12486]

Download as PDF Federal Register / Vol. 72, No. 124 / Thursday, June 28, 2007 / Notices participants in connection with the deposit of Foreign Securities with DTC and/or as a condition to engaging in transactions in Foreign Securities through the facilities of DTC, DTC would have the right and could adopt associated procedures to determine in accordance with Rule 5 Section 1 of the DTC Rules and its obligations as a registered clearing agency subject to regulation by the Commission whether any other or additional documentation would be required. Section 17A(a)(2)(A) of the Act directs the Commission to facilitate the establishment of a national system for the prompt and accurate clearance and settlement of securities transactions and the establishment of linked or coordinated facilities for clearance and settlement. The deposit and book-entry transfer of Foreign Securities through the facilities of DTC in accordance with the criteria and procedures set forth in the proposed Policy Statement would (1) enable DTC to provide its participants with prompt and accurate clearance and settlement of their crossborder securities transactions, (2) enable DTC to enhance and extend its linkages with foreign depositories and exchanges and (3) enable DTC to support the crossborder initiatives of U.S. broker-dealers, banks and exchanges. (B) Self-Regulatory Organization’s Statement on Burden on Competition DTC does not believe that the proposed rule change would impose any burden on competition. (C) Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments relating to the proposed rule change have been solicited or received by DTC from members, participants or other persons. DTC will notify the Commission of any written comments it receives. mstockstill on PROD1PC66 with NOTICES III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within thirty five 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 ninety days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (a) By order approve the proposed rule change or VerDate Aug<31>2005 18:23 Jun 27, 2007 Jkt 211001 (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: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–DTC–2007–04 on the subject line. 35535 For the Commission by the Division of Market Regulation, pursuant to delegated authority.20 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–12531 Filed 6–27–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–55941; File No. SR–ISE– 2007–36] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change as Modified by Amendment No. 1 Thereto Relating to API Fees June 21, 2007. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (the ‘‘Act’’),1 and Rule 19b-4 thereunder,2 • Send paper comments in triplicate notice is hereby given that on May 17, to Nancy M. Morris, Secretary, 2007, the International Securities Securities and Exchange Commission, Exchange, LLC (the ‘‘Exchange’’ or the 100 F Street, NE., Washington, DC ‘‘ISE’’) filed with the Securities and 20549–1090. Exchange Commission (‘‘Commission’’) All submissions should refer to File the proposed rule change as described Number SR–DTC–2007–04. This file in Items I, II, and III below, which Items number should be included on the have been substantially prepared by the subject line if e-mail is used. To help the Exchange. On June 11, 2007, the ISE Commission process and review your submitted Amendment No. 1 to the comments more efficiently, please use proposed rule change.3 ISE has only one method. The Commission will designated this proposal as one post all comments on the Commission’s establishing or changing a due, fee, or Internet Web site (http://www.sec.gov/ other charge imposed by ISE under rules/sro.shtml). Copies of the Section 19(b)(3)(A)(ii) of the Act 4 and submission, all subsequent Rule 19b-4(f)(2) thereunder,5 which amendments, all written statements renders the proposal effective upon with respect to the proposed rule filing with the Commission. The change that are filed with the Commission is publishing this notice to Commission, and all written solicit comments on the proposed rule communications relating to the change, as amended, from interested proposed rule change between the persons. Commission and any person, other than I. Self-Regulatory Organization’s those that may be withheld from the Statement of the Terms of Substance of public in accordance with the the Proposed Rule Change provisions of 5 U.S.C. 552, will be The ISE is proposing to adopt a High available for inspection and copying in Throughput User Session/API fee for the Commission’s Public Reference ISE market makers.6 The text of the Room, 100 F Street, NE., Washington, proposed rule change is available at the DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Exchange, the Commission’s Public Copies of such filing also will be 20 17 CFR 200.30–3(a)(12). available for inspection and copying at 1 15 U.S.C. 78s(b)(1). the principal office of DTC. All 2 17 CFR 240.19b-4. comments received will be posted 3 Amendment No. 1 makes certain clarifying edits without change; the Commission does to the purpose section of the proposed rule change not edit personal identifying and the Schedule of Fees contained in Exhibit 5. information from submissions. You 4 15 U.S.C. 78s(b)(3)(A)(ii). 5 17 CFR 240.19b-4(f)(2). should submit only information that 6 See Telephone Conference between Samir Patel, you wish to make available publicly. All Assistant General Counsel, ISE, and Richard Holley submissions should refer to File III, Special Counsel, Division of Market Regulation, Number SR–DTC–2007–04 and should Commission, dated June 21, 2007 (noting that the be submitted on or before July 19, 2007. proposed fee is applicable to ISE market makers). Paper Comments PO 00000 Frm 00114 Fmt 4703 Sfmt 4703 E:\FR\FM\28JNN1.SGM 28JNN1 35536 Federal Register / Vol. 72, No. 124 / Thursday, June 28, 2007 / Notices Reference Room, and http:// www.iseoptions.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 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 mstockstill on PROD1PC66 with NOTICES 1. Purpose The purpose of this proposed rule change is to adopt a High Throughput User Session/API fee for members.7 ISE currently has three categories of authorized logins: (1) Quoting, order entry and listening (allowing the user to enter quotes, orders, and perform all other miscellaneous functions, such as setting parameters, pulling quotes and performing linkage functions (e.g., sending and receiving P and P/A orders, laying off orders, etc.)); (2) order entry and listening (allowing the user to enter orders and perform all other miscellaneous functions, such as setting parameters, pulling quotes and performing linkage functions (but not quote)); and (3) listening (allowing the user only to query the system and to respond to other broadcasts). An ISE market maker currently receives an allocation of 1,000,000 quotes per day per user. If a firm submits more quotes than those allocated, i.e., 1,000,000 quotes per day per user as measured on an average in a single month, the firm is charged for additional users depending upon the number of quotes submitted.8 Each 7 The ISE Central Exchange System uses an open Application Programming Interface (API). ISE Members program to ISE’s API in order to develop applications that send trading commands and/or queries to and receive broadcasts and/or transactions from the trading system. The ISE Central Exchange System is the heart of ISE’s marketplace, processing quotes from market makers, receiving orders from Electronic Access Members, tracking activity in the underlying markets, executing trades in the matching engine, and broadcasting trade details to the participating members. 8 See Securities Exchange Act Release No. 53522 (March 20, 2006), 71 FR 14975 (March 24, 2006) (SR-ISE–2006–09) (providing an example of how the fee is assessed). VerDate Aug<31>2005 18:23 Jun 27, 2007 Jkt 211001 month, the total number of quotes submitted by a market maker firm across all bins (i.e., the group of options to which the market maker is appointed) is divided by the number of trading days, resulting in the average quotes per day. This number is then divided by 1,000,000 and rounded up to the nearest whole number, resulting in an implied number of users based on quotes. Members are invoiced on a monthly basis for the greater of (a) the greatest number of users authorized to login into the system, or (b) the number of implied users based on quotes. ISE currently charges $950 per month for each quoting session for up to 1,000,000 quotes per day, on average for a month. Members are charged an additional user fee of $950 for each incremental usage of up to 1,000,000 quotes per day per user. There are certain third party vendors used by members to connect to the ISE that currently permit only single logins, thus restricting a member’s activity when utilizing these applications. To address this limitation, ISE has created a ‘‘High Throughput User’’ that permits an ISE Market Maker to quote up to 2,000,000 quotes per day in a month. A ‘‘High Throughput User’’ would be able to enter quotes, orders, and perform all other miscellaneous functions, such as setting parameters, pulling quotes and performing linkage functions (e.g., sending and receiving P and P/A orders, laying off orders, etc.). The Exchange proposes to charge ‘‘High Throughput Users’’ a fee of $1,900 per month. Members will be charged an additional user fee of $1,900 for each incremental usage of up to 2,000,000 quotes per day per user. 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(4) 9 that an exchange have an equitable allocation of reasonable dues, fees and other charges among its members and other persons using its facilities. In particular, the Exchange believes this fee will allow its market making members to maximize their quoting ability. B. Self-Regulatory Organization’s Statement on Burden on Competition The proposed rule change does not impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. 9 15 PO 00000 U.S.C. 78f(b)(4). Frm 00115 Fmt 4703 Sfmt 4703 C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective pursuant to Section 19(b)(3)(A)(ii) of the Act 10 and Rule 19b–4(f)(2) 11 thereunder because it establishes or changes a due, fee, or other charge imposed by the Exchange. 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.12 IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–ISE–2007–36 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–ISE–2007–36. 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 10 15 U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 12 For purposes of calculating the 60-day period within which the Commission may summarily abrogate the proposed rule change, the Commission considers the period to commence on June 11, 2007, the date on which the Exchange filed Amendment No. 1. 11 17 E:\FR\FM\28JNN1.SGM 28JNN1 Federal Register / Vol. 72, No. 124 / Thursday, June 28, 2007 / Notices post all comments on the Commission’s Internet Web site (http://www.sec.gov/ rules/sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Room 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 office of the ISE. 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–ISE– 2007–36 and should be submitted on or before July 19, 2007. Division, 666 North Street, Suite 105, Jackson, Mississippi 39202, Telephone: (601) 965–4217. SUPPLEMENTARY INFORMATION: Background The FHWA is rescinding the notice of intent to prepare an Environmental Impact Statement (EIS) on a proposal to study the relocation of the CSX Railroad through the six counties of the Mississippi Gulf Coast—Jackson, Harrison, Hancock, Greene, Stone, and Pearl River Counties with logical termini at the Alabama and Louisiana State lines. The purpose of the CSX Study was three-fold: Identify the best feasible corridor for relocation of the CSX Railroad in Mississippi; obtain the necessary environmental clearances; and, demonstrate the applicability of remote sensing technologies to environmental analysis for transportation planning projects and decision making. Of paramount importance to this effort was the public participation process. Federal-aid funds are no longer available for the proposed action. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.13 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–12486 Filed 6–27–07; 8:45 am] Andrew H. Hughes, Division Administrator, Mississippi, Federal Highway Administration, Jackson, Mississippi. [FR Doc. E7–12492 Filed 6–27–07; 8:45 am] BILLING CODE 8010–01–P BILLING CODE 4910–22–P DEPARTMENT OF TRANSPORTATION Federal Motor Carrier Safety Administration Federal Highway Administration Mississippi Division; Notice To Rescind a Notice of Intent To Prepare an Environmental Impact Statement (EIS): Hancock, Harrison, Jackson Counties, MS Federal Highway Administration (FHWA), DOT. ACTION: Rescind Notice of Intent to prepare an EIS. mstockstill on PROD1PC66 with NOTICES AGENCY: CFR 200.30–3(a)(12). VerDate Aug<31>2005 18:23 Jun 27, 2007 Jkt 211001 [Docket No. FMCSA–2007–28416] Notice of Request for Information (RFI): Training Certification for Drivers of Longer Combination Vehicles (LCVs) Federal Motor Carrier Safety Administration (FMCSA), DOT. ACTION: Notice; request for comments. AGENCY: SUMMARY: The FHWA is issuing this notice to advise the public that the Notice of Intent published on April 23, 2003 to prepare an Environmental Impact Statement (EIS) for a proposed relocation study of the CSX Railroad through the six counties of the Mississippi Gulf Coast is being rescinded. FOR FURTHER INFORMATION CONTACT: Cecil Vick, Environment and Planning Management Team Leader, Federal Highway Administration, Mississippi 13 17 DEPARTMENT OF TRANSPORTATION SUMMARY: In accordance with the Paperwork Reduction Act of 1995, FMCSA announces its plan to submit the Information Collection Request (ICR) described below to the Office of Management and Budget (OMB) for review and approval and invites public comment on its proposal. Specifically, the FMCSA requests OMB’s approval to revise an ICR entitled, ‘‘Training Certification for Drivers of Longer Combination Vehicles (LCVs).’’ This ICR is necessary due to the paperwork requirement to complete and maintain training certificates that drivers must PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 35537 present to prospective employers. These certificates serve as proof the drivers have successfully completed sufficient training to operate LCVs safely on our Nation’s highways. Motor carriers are required to maintain a copy of the training certification in each LCV driver’s qualification (DQ) file, which may be reviewed by Federal or State enforcement officials. DATES: We must receive your comments on or before August 27, 2007. ADDRESSES: You may submit comments identified by any of the following methods. Please identify your comments by the FMCSA docket number provided at the beginning of this notice. • Web site: http://dms.dot.gov. Follow instructions for submitting comments to the Docket. • Fax: 202–493–2251. • Mail: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue, SE., Washington, DC 20590. • Hand Delivery: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue, SE., Washington, DC 20590 between 9 a.m. and 5 p.m., e.t., Monday through Friday, except Federal holidays. Docket: For access to the Docket Management System (DMS) to read background documents or comments received, go to http://dms.dot.gov at any time or to the U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue, SE., Washington, DC 20590 between 9 a.m. and 5 p.m., e.t., Monday through Friday, except Federal holidays. The DMS is available electronically 24 hours each day, 365 days each year. If you want notification of receipt of your comments, please include a selfaddressed, stamped envelope, or postcard or print the acknowledgement page that appears after submitting comments on-line. Privacy Act: Anyone is able to search the electronic form of all comments received into any of our dockets by the name of the individual submitting the comment (or signing the comment, if submitted on behalf of an association, business, labor union, etc.). You may review DOT’s complete Privacy Act Statement in the Federal Register on April 11, 2000 (65 FR 19477), or you may visit http://dms.dot.gov. FOR FURTHER INFORMATION CONTACT: Mr. Tom Yager, Chief of the Driver and Carrier Operations Division, Department of Transportation, Federal Motor Carrier Safety Administration, West Building E:\FR\FM\28JNN1.SGM 28JNN1

Agencies

[Federal Register Volume 72, Number 124 (Thursday, June 28, 2007)]
[Notices]
[Pages 35535-35537]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-12486]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55941; File No. SR-ISE-2007-36]


Self-Regulatory Organizations; International Securities Exchange, 
LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule 
Change as Modified by Amendment No. 1 Thereto Relating to API Fees

June 21, 2007.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given 
that on May 17, 2007, the International Securities Exchange, LLC (the 
``Exchange'' or the ``ISE'') 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. On June 11, 2007, the ISE submitted Amendment 
No. 1 to the proposed rule change.\3\ ISE has designated this proposal 
as one establishing or changing a due, fee, or other charge imposed by 
ISE under Section 19(b)(3)(A)(ii) of the Act \4\ and Rule 19b-4(f)(2) 
thereunder,\5\ which renders the proposal effective upon filing with 
the Commission. The Commission is publishing this notice to solicit 
comments on the proposed rule change, as amended, from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Amendment No. 1 makes certain clarifying edits to the 
purpose section of the proposed rule change and the Schedule of Fees 
contained in Exhibit 5.
    \4\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \5\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The ISE is proposing to adopt a High Throughput User Session/API 
fee for ISE market makers.\6\ The text of the proposed rule change is 
available at the Exchange, the Commission's Public

[[Page 35536]]

Reference Room, and http://www.iseoptions.com.
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    \6\ See Telephone Conference between Samir Patel, Assistant 
General Counsel, ISE, and Richard Holley III, Special Counsel, 
Division of Market Regulation, Commission, dated June 21, 2007 
(noting that the proposed fee is applicable to ISE market makers).
---------------------------------------------------------------------------

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
    The purpose of this proposed rule change is to adopt a High 
Throughput User Session/API fee for members.\7\ ISE currently has three 
categories of authorized logins: (1) Quoting, order entry and listening 
(allowing the user to enter quotes, orders, and perform all other 
miscellaneous functions, such as setting parameters, pulling quotes and 
performing linkage functions (e.g., sending and receiving P and P/A 
orders, laying off orders, etc.)); (2) order entry and listening 
(allowing the user to enter orders and perform all other miscellaneous 
functions, such as setting parameters, pulling quotes and performing 
linkage functions (but not quote)); and (3) listening (allowing the 
user only to query the system and to respond to other broadcasts).
---------------------------------------------------------------------------

    \7\ The ISE Central Exchange System uses an open Application 
Programming Interface (API). ISE Members program to ISE's API in 
order to develop applications that send trading commands and/or 
queries to and receive broadcasts and/or transactions from the 
trading system. The ISE Central Exchange System is the heart of 
ISE's marketplace, processing quotes from market makers, receiving 
orders from Electronic Access Members, tracking activity in the 
underlying markets, executing trades in the matching engine, and 
broadcasting trade details to the participating members.
---------------------------------------------------------------------------

    An ISE market maker currently receives an allocation of 1,000,000 
quotes per day per user. If a firm submits more quotes than those 
allocated, i.e., 1,000,000 quotes per day per user as measured on an 
average in a single month, the firm is charged for additional users 
depending upon the number of quotes submitted.\8\ Each month, the total 
number of quotes submitted by a market maker firm across all bins 
(i.e., the group of options to which the market maker is appointed) is 
divided by the number of trading days, resulting in the average quotes 
per day. This number is then divided by 1,000,000 and rounded up to the 
nearest whole number, resulting in an implied number of users based on 
quotes. Members are invoiced on a monthly basis for the greater of (a) 
the greatest number of users authorized to login into the system, or 
(b) the number of implied users based on quotes.
---------------------------------------------------------------------------

    \8\ See Securities Exchange Act Release No. 53522 (March 20, 
2006), 71 FR 14975 (March 24, 2006) (SR-ISE-2006-09) (providing an 
example of how the fee is assessed).
---------------------------------------------------------------------------

    ISE currently charges $950 per month for each quoting session for 
up to 1,000,000 quotes per day, on average for a month. Members are 
charged an additional user fee of $950 for each incremental usage of up 
to 1,000,000 quotes per day per user.
    There are certain third party vendors used by members to connect to 
the ISE that currently permit only single logins, thus restricting a 
member's activity when utilizing these applications. To address this 
limitation, ISE has created a ``High Throughput User'' that permits an 
ISE Market Maker to quote up to 2,000,000 quotes per day in a month. A 
``High Throughput User'' would be able to enter quotes, orders, and 
perform all other miscellaneous functions, such as setting parameters, 
pulling quotes and performing linkage functions (e.g., sending and 
receiving P and P/A orders, laying off orders, etc.). The Exchange 
proposes to charge ``High Throughput Users'' a fee of $1,900 per month. 
Members will be charged an additional user fee of $1,900 for each 
incremental usage of up to 2,000,000 quotes per day per user.
2. Statutory Basis
    The basis under the Act for this proposed rule change is the 
requirement under Section 6(b)(4) \9\ that an exchange have an 
equitable allocation of reasonable dues, fees and other charges among 
its members and other persons using its facilities. In particular, the 
Exchange believes this fee will allow its market making members to 
maximize their quoting ability.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

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

    The proposed rule change does not 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 not solicited, and does not intend to solicit, 
comments on this proposed rule change. The Exchange has not received 
any unsolicited written comments from members or other interested 
parties.

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

    The foregoing proposed rule change has become effective pursuant to 
Section 19(b)(3)(A)(ii) of the Act \10\ and Rule 19b-4(f)(2) \11\ 
thereunder because it establishes or changes a due, fee, or other 
charge imposed by the Exchange. 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.\12\
---------------------------------------------------------------------------

    \10\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \11\ 17 CFR 240.19b-4(f)(2).
    \12\ For purposes of calculating the 60-day period within which 
the Commission may summarily abrogate the proposed rule change, the 
Commission considers the period to commence on June 11, 2007, the 
date on which the Exchange filed Amendment No. 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 (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File No. SR-ISE-2007-36 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-ISE-2007-36. 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

[[Page 35537]]

post all comments on the Commission's Internet Web site (http://
www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent 
amendments, all written statements with respect to the proposed rule 
change that are filed with the Commission, and all written 
communications relating to the proposed rule change between the 
Commission and any person, other than those that may be withheld from 
the public in accordance with the provisions of 5 U.S.C. 552, will be 
available for inspection and copying in the Commission's Public 
Reference Room 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 office of the ISE. 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-ISE-2007-36 and should be submitted on 
or before July 19, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\13\
---------------------------------------------------------------------------

    \13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-12486 Filed 6-27-07; 8:45 am]
BILLING CODE 8010-01-P