Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Fee Changes, 36530-36531 [E7-12777]
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36530
Federal Register / Vol. 72, No. 127 / Tuesday, July 3, 2007 / Notices
SECURITIES AND EXCHANGE
COMMISSION
SECURITIES AND EXCHANGE
COMMISSION
Proposed Collection; Comment
Request
[Release No. 34–55961; File No. SR–ISE–
2007–46]
Upon written request, copies available
from: Securities and Exchange
Commission, Office of Filings and
Information Services, Washington, DC
20549.
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change Relating to Fee Changes
Extension: Regulation S; OMB Control No.
3235–0357; SEC File No. 270–315.
June 26, 2007.
jlentini on PROD1PC65 with NOTICES
Notice is hereby given that, pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.), the Securities
and Exchange Commission
(‘‘Commission’’) is soliciting comments
on the collection of information
summarized below. The Commission
plans to submit this existing collection
of information to the Office of
Management and Budget for extension
and approval.
Regulation S (17 CFR 230.901 through
230.905) includes rules governing offers
and sales of securities made outside the
United States without registration under
the Securities Act of 1933 (15 U.S.C. 77a
et seq.). The purpose of Regulation S is
to provide clarification of the extent to
which Section 5 of the Securities Act
applies to sales and re-sales of securities
outside of the United States. Regulation
S is assigned one burden hour for
administrative convenience.
Written comments are invited on: (a)
Whether this collection of information
is necessary for the proper performance
of the functions of the agency, including
whether the information will have
practical utility; (b) the accuracy of the
agency’s estimate of the burden imposed
by the collection of information; (c)
ways to enhance the quality, utility, and
clarity of the information collected; and
(d) ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology.
Consideration will be given to
comments and suggestions submitted in
writing within 60 days of this
publication.
Please direct your written comments
to R. Corey Booth, Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Shirley
Martinson, 6432 General Green Way,
Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov.
Dated: June 25, 2007.
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–12784 Filed 7–2–07; 8:45 am]
BILLING CODE 8010–01–P
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17:57 Jul 02, 2007
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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 International Securities
Exchange, LLC (‘‘ISE’’ 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. 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 3 and Rule 19b–4(f)(2) 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
The ISE is proposing to amend its
Schedule of Fees to establish fees for
transactions in options on two Premium
Products.5 The text of the proposed rule
change is available at the Exchange, the
Commission’s Public Reference Room,
and https://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. ISE
has substantially prepared summaries,
set forth in Sections A, B, and C below,
of the most significant aspects of such
statements.
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
5 ‘‘Premium Products’’ is defined in the Schedule
of Fees as the products enumerated therein.
PO 00000
1 15
2 17
Frm 00112
Fmt 4703
Sfmt 4703
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange proposes to amend its
Schedule of Fees to establish fees for
transactions in options on the following
two Premium Products: United States
Natural Gas Fund (‘‘UNG’’) and United
States Oil Fund (‘‘USO’’).6 The
Exchange represents that UNG and USO
are eligible for options trading because
they constitute ‘‘Fund Shares,’’ as
defined by ISE Rule 502(h).
All of the applicable fees covered by
this filing are identical to fees charged
by the Exchange for all other Premium
Products. Specifically, the Exchange is
proposing to adopt an execution fee and
a comparison fee for all transactions in
options on UNG and USO.7 The amount
of the execution fee and comparison fee
for products covered by this filing shall
be $0.15 and $0.03 per contract,
respectively, for all Public Customer
Orders 8 and Firm Proprietary orders.
The amount of the execution fee and
comparison fee for all ISE Market Maker
transactions shall be equal to the
execution fee and comparison fee
currently charged by the Exchange for
ISE Market Maker transactions in equity
options.9 Finally, the amount of the
execution fee and comparison fee for all
non-ISE Market Maker transactions shall
be $0.37 and $0.03 per contract,
respectively. Further, since options on
UNG and USO are multiply-listed, the
6 The United States Oil Fund, LP (‘‘USO’’) and the
United States Natural Gas Fund (‘‘UNG’’) are
distributed by ALPS Distributors, Inc. (‘‘ALPS’’),
administered by Brown Brothers Harriman & Co.
(‘‘BBH’’) and Victoria Bay Asset Management
(‘‘VBAM’’) is the General Partner. ALPS, BBH and
VBAM have not licensed or authorized ISE to (i)
engage in the creation, listing, provision of a market
for trading, marketing, and promotion of options on
USO and UNG or (ii) to use and refer to any of their
trademarks or service marks in connection with the
listing, provision of a market for trading, marketing,
and promotion of options on USO and UNG or with
making disclosures concerning options on USO and
UNG under any applicable federal or state laws,
rules or regulations. ALPS, BBH and VBAM do not
sponsor, endorse, or promote such activity by ISE,
and are not affiliated in any manner with ISE.
7 These fees will be charged to Exchange
members. Under a pilot program that is set to expire
on July 31, 2007, these fees will also be charged to
Linkage Orders (as defined in ISE Rule 1900). See
Securities Exchange Act Release No. 54204 (July 25,
2006), 71 FR 43548 (August 1, 2006) (SR–ISE–2006–
38).
8 ‘‘Public Customer Order’’ is defined in ISE Rule
100(a)(39) as an order for the account of a Public
Customer. ‘‘Public Customer’’ is defined in ISE Rule
100(a)(38) as a person that is not a broker or dealer
in securities.
9 The execution fee is currently between $.21 and
$.12 per contract side, depending on the Exchange
Average Daily Volume, and the comparison fee is
currently $.03 per contract side.
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03JYN1
Federal Register / Vol. 72, No. 127 / Tuesday, July 3, 2007 / Notices
Payment for Order Flow fee shall also
apply. The Exchange believes the
proposed rule change will further the
Exchange’s goal of introducing new
products to the marketplace that are
competitively priced.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act 10 in general, and
Section 6(b)(4) of the Act 11 in
particular, because it is designed to
provide for the equitable allocation of
reasonable dues, fees, and other charges
among its members and other persons
using its facilities.
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.
jlentini on PROD1PC65 with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has been designated as a fee change
pursuant to Section 19(b)(3)(A)(ii) of the
Act 12 and Rule 19b–4(f)(2) 13
thereunder, because it establishes or
changes a due, fee, or other charge
imposed by the Exchange. Accordingly,
the proposal took effect upon filing with
the Commission. At any time within 60
days of the filing of such proposed rule
change the Commission may summarily
abrogate such rule change if it appears
to the Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–ISE–2007–46 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.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–55960; File No. SR–ISE–
2007–42]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change Relating to PrecISE Fees
June 26, 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 June 1,
2007, the International Securities
All submissions should refer to File
Exchange, LLC (the ‘‘Exchange’’ or the
Number SR–ISE–2007–46. This file
‘‘ISE’’) filed with the Securities and
number should be included on the
subject line if e-mail is used. To help the Exchange Commission (‘‘Commission’’)
the proposed rule change as described
Commission process and review your
in Items I, II, and III below, which Items
comments more efficiently, please use
only one method. The Commission will have been substantially prepared by the
Exchange. ISE has designated this
post all comments on the Commission’s
proposal as one establishing or changing
Internet Web site (https://www.sec.gov/
a due, fee, or other charge imposed by
rules/sro.shtml). Copies of the
ISE under section 19(b)(3)(A)(ii) of the
submission, all subsequent
Act 3 and Rule 19b–4(f)(2) thereunder,4
amendments, all written statements
which renders the proposal effective
with respect to the proposed rule
upon 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 from interested persons.
proposed rule change between the
Commission and any person, other than I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
those that may be withheld from the
the Proposed Rule Change
public in accordance with the
provisions of 5 U.S.C. 552, will be
The ISE is proposing to amend the
available for inspection and copying in
fees for its PrecISE Trade order entry
the Commission’s Public Reference
terminals and also to delete obsolete
Room, 100 F Street, NE., Washington,
references to CLICK fees in its Schedule
DC 20549, on official business days
of Fees. The text of the proposed rule
between the hours of 10 a.m. and 3 p.m. change is available at the Exchange, the
Commission’s Public Reference Room,
Copies of such filing also will be
and https://www.iseoptions.com.
available for inspection and copying at
the principal office of the Exchange. All II. Self-Regulatory Organization’s
comments received will be posted
Statement of the Purpose of, and
without change; the Commission does
Statutory Basis for, the Proposed Rule
not edit personal identifying
Change
information from submissions. You
In its filing with the Commission, the
should submit only information that
you wish to make available publicly. All Exchange included statements
concerning the purpose of, and basis for,
submissions should refer to File
Number SR–ISE–2007–46 and should be the proposed rule change and discussed
any comments it received on the
submitted on or before July 24, 2007.
proposed rule change. The text of these
For the Commission, by the Division of
statements may be examined at the
Market Regulation, pursuant to delegated
places specified in Item IV below. The
14
authority.
Exchange has prepared summaries, set
Florence E. Harmon,
forth in sections A, B, and C below, of
the most significant aspects of such
Deputy Secretary.
statements.
[FR Doc. E7–12777 Filed 7–2–07; 8:45 am]
BILLING CODE 8010–01–P
10 15
U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(4).
12 15 U.S.C. 78s(b)(3)(A)(ii).
13 17 CFR 240.19b–4(f)(2).
VerDate Aug<31>2005
17:57 Jul 02, 2007
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(ii).
4 17 CFR 240.19b–4(f)(2).
2 17
14 17
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36531
PO 00000
CFR 200.30–3(a)(12).
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Fmt 4703
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03JYN1
]]>Agencies
[Federal Register Volume 72, Number 127 (Tuesday, July 3, 2007)]
[Notices]
[Pages 36530-36531]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-12777]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-55961; File No. SR-ISE-2007-46]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule
Change Relating to Fee Changes
June 26, 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 International Securities Exchange, LLC (``ISE''
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. 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 \3\ and Rule 19b-4(f)(2) 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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A)(ii).
\4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The ISE is proposing to amend its Schedule of Fees to establish
fees for transactions in options on two Premium Products.\5\ The text
of the proposed rule change is available at the Exchange, the
Commission's Public Reference Room, and https://www.iseoptions.com.
---------------------------------------------------------------------------
\5\ ``Premium Products'' is defined in the Schedule of Fees as
the products enumerated therein.
---------------------------------------------------------------------------
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. ISE has substantially 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 Exchange proposes to amend its Schedule of Fees to establish
fees for transactions in options on the following two Premium Products:
United States Natural Gas Fund (``UNG'') and United States Oil Fund
(``USO'').\6\ The Exchange represents that UNG and USO are eligible for
options trading because they constitute ``Fund Shares,'' as defined by
ISE Rule 502(h).
---------------------------------------------------------------------------
\6\ The United States Oil Fund, LP (``USO'') and the United
States Natural Gas Fund (``UNG'') are distributed by ALPS
Distributors, Inc. (``ALPS''), administered by Brown Brothers
Harriman & Co. (``BBH'') and Victoria Bay Asset Management
(``VBAM'') is the General Partner. ALPS, BBH and VBAM have not
licensed or authorized ISE to (i) engage in the creation, listing,
provision of a market for trading, marketing, and promotion of
options on USO and UNG or (ii) to use and refer to any of their
trademarks or service marks in connection with the listing,
provision of a market for trading, marketing, and promotion of
options on USO and UNG or with making disclosures concerning options
on USO and UNG under any applicable federal or state laws, rules or
regulations. ALPS, BBH and VBAM do not sponsor, endorse, or promote
such activity by ISE, and are not affiliated in any manner with ISE.
---------------------------------------------------------------------------
All of the applicable fees covered by this filing are identical to
fees charged by the Exchange for all other Premium Products.
Specifically, the Exchange is proposing to adopt an execution fee and a
comparison fee for all transactions in options on UNG and USO.\7\ The
amount of the execution fee and comparison fee for products covered by
this filing shall be $0.15 and $0.03 per contract, respectively, for
all Public Customer Orders \8\ and Firm Proprietary orders. The amount
of the execution fee and comparison fee for all ISE Market Maker
transactions shall be equal to the execution fee and comparison fee
currently charged by the Exchange for ISE Market Maker transactions in
equity options.\9\ Finally, the amount of the execution fee and
comparison fee for all non-ISE Market Maker transactions shall be $0.37
and $0.03 per contract, respectively. Further, since options on UNG and
USO are multiply-listed, the
[[Page 36531]]
Payment for Order Flow fee shall also apply. The Exchange believes the
proposed rule change will further the Exchange's goal of introducing
new products to the marketplace that are competitively priced.
---------------------------------------------------------------------------
\7\ These fees will be charged to Exchange members. Under a
pilot program that is set to expire on July 31, 2007, these fees
will also be charged to Linkage Orders (as defined in ISE Rule
1900). See Securities Exchange Act Release No. 54204 (July 25,
2006), 71 FR 43548 (August 1, 2006) (SR-ISE-2006-38).
\8\ ``Public Customer Order'' is defined in ISE Rule 100(a)(39)
as an order for the account of a Public Customer. ``Public
Customer'' is defined in ISE Rule 100(a)(38) as a person that is not
a broker or dealer in securities.
\9\ The execution fee is currently between $.21 and $.12 per
contract side, depending on the Exchange Average Daily Volume, and
the comparison fee is currently $.03 per contract side.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act \10\ in general, and Section 6(b)(4) of
the Act \11\ in particular, because it is designed to provide for the
equitable allocation of reasonable dues, fees, and other charges among
its members and other persons using its facilities.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 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 been designated as a fee
change pursuant to Section 19(b)(3)(A)(ii) of the Act \12\ and Rule
19b-4(f)(2) \13\ thereunder, because it establishes or changes a due,
fee, or other charge imposed by the Exchange. Accordingly, the proposal
took effect upon filing with the Commission. 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\ 15 U.S.C. 78s(b)(3)(A)(ii).
\13\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
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-ISE-2007-46 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-2007-46. 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, 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 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-ISE-2007-46 and should be
submitted on or before July 24, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-12777 Filed 7-2-07; 8:45 am]
BILLING CODE 8010-01-P
