Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Effective Date of a Previous Rule Change Relating to Information Contained in a Directed Order on the Boston Options Exchange, 38104-38106 [E7-13491]
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38104
Federal Register / Vol. 72, No. 133 / Thursday, July 12, 2007 / Notices
rwilkins on PROD1PC63 with NOTICES
its determination that the requirement
has an adverse safety impact, and either
a proposal for achieving the same
objectives, specified in Attachments 1
and 2, in question, or a schedule for
modifying the facilities, to address the
adverse safety condition. If neither
approach is appropriate, the Licensee
must supplement its response to
Condition B1 of this Order, to identify
the condition as a requirement with
which it cannot comply, with attendant
justifications, as required in Condition
B1.
C. 1. The Licensee shall, within
twenty (20) days of the date of this
Order, submit to the Commission, a
schedule for achieving compliance with
each requirement described in the
Attachment.
2. The Licensee shall report to the
Commission when it has achieved full
compliance with the requirements
described in the Attachment.
D. Notwithstanding any provision of
the Commission’s regulations to the
contrary, all measures implemented or
actions taken in response to this Order
shall be maintained until the
Commission determines otherwise.
The Licensee’s response to Conditions
B.1, B.2, C.1, and C.2, above, shall be
submitted in accordance with 10 CFR
70.5. In addition, the Licensee’s
submittals that contain Safeguards
Information shall be properly marked
and handled in accordance with the
Order issued on October 4, 2006,
requiring a program for protecting
Safeguards Information.
The Director, Office of Nuclear
Material Safety and Safeguards, may, in
writing, relax or rescind any of the
above conditions upon demonstration
by the Licensee of good cause.
IV
In accordance with 10 CFR 2.202, the
Licensee must, and any other person
adversely affected by this Order, may
submit an answer to this Order, and
may request a hearing on this Order,
within twenty (20) days of the date of
this Order. Where good cause is shown,
consideration will be given to extending
the time to request a hearing. A request
for extension of time in which to submit
an answer or request a hearing must be
made in writing to the Director, Office
of Nuclear Material Safety and
Safeguards, U.S. Nuclear Regulatory
Commission, Washington, DC 20555,
and include a statement of good cause
for the extension. The answerer may
consent to this Order. Unless the
answerer consents to this Order, the
answerer shall, in writing and under
oath or affirmation, specifically set forth
the matters of fact and law on which the
VerDate Aug<31>2005
16:42 Jul 11, 2007
Jkt 211001
Licensee or other person adversely
affected relies and the reasons as to why
the Order should not have been issued.
Any answer or request for a hearing
shall be submitted to the Secretary,
Office of the Secretary of the
Commission, U.S. Nuclear Regulatory
Commission, ATTN: Rulemakings and
Adjudications Staff, Washington, DC
20555. Copies also shall be sent to the
Director, Office of Nuclear Material
Safety and Safeguards, and the Director,
Office of Enforcement, U.S. Nuclear
Regulatory Commission, Washington,
DC 20555; to the Assistant General
Counsel for Materials Litigation and
Enforcement, at the same address; to the
Regional Administrator, NRC Region II,
61 Forsyth Street, SW., Suite 23T85,
Atlanta, GA 30303–8931; and to the
Licensee, if the answer or hearing
request is by a person other than the
Licensee. Because of possible
disruptions in delivery of mail to United
States Government offices, it is
requested that answers and requests for
hearing be transmitted to the Secretary
of the Commission, either by means of
facsimile transmission, to 301–415–
1101, or by e-mail, to
hearingdocket@nrc.gov, and also to the
Office of the General Counsel either by
means of facsimile transmission, to 301–
415–3725, or by e-mail, to
OGCMailCenter@nrc.gov.
If a person other than the Licensee
requests a hearing, that person shall set
forth with particularity the manner in
which his interest is adversely affected
by this Order and shall address the
criteria set forth in 10 CFR 2.309.
If a hearing is requested by the
Licensee or a person whose interest is
adversely affected, the Commission will
issue an Order designating the time and
place of any hearing. If a hearing is held,
the issue to be considered at such
hearing shall be whether this Order
should be sustained.
Pursuant to 10 CFR 2.202(c)(2)(i), the
Licensee may, in addition to demanding
a hearing, at the time the answer is filed
or sooner, move to set aside the
immediate effectiveness of the Order, on
the grounds that the Order, including
the need for immediate effectiveness, is
not based on adequate evidence, but on
mere suspicion, unfounded allegations,
or error.
In the absence of any request for
hearing, or written approval of an
extension of time in which to request a
hearing, the provisions specified in
Section III above shall be final twenty
(20) days from the date of this Order,
without further order or proceedings. If
an extension of time for requesting a
hearing has been approved, the
provisions specified in Section III shall
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Fmt 4703
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be final when the extension expires, if
a hearing request has not been received.
An answer or a request for hearing
shall not stay the immediate
effectiveness of this order.
Dated: July 5, 2007.
For the Nuclear Regulatory Commission.
Michael F. Weber,
Director, Office of Nuclear Material Safety
and Safeguards.
[FR Doc. 07–3403 Filed 7–11–07; 8:45 am]
BILLING CODE 4590–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56014; File No. SR–BSE–
2007–31]
Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change To Extend the
Effective Date of a Previous Rule
Change Relating to Information
Contained in a Directed Order on the
Boston Options Exchange
July 5, 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 July 2,
2007, the Boston Stock Exchange, Inc.
(‘‘BSE’’ or ‘‘Exchange’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been
substantially prepared by the BSE. The
BSE filed the proposed rule change as
a ‘‘noncontroversial’’ proposed rule
change 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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The BSE proposes to extend the
effective date of the amended rule
governing the Exchange’s Directed
Order process on the Boston Options
Exchange (‘‘BOX’’) from July 31, 2007 to
January 31, 2008. The text of the
proposed rule change is available on
BSE’s Web site at https://
www.bostonoptions.com, at BSE’s
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
2 17
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Federal Register / Vol. 72, No. 133 / Thursday, July 12, 2007 / Notices
principal office, 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
BSE 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 BSE 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
rwilkins on PROD1PC63 with NOTICES
On March 20, 2006, the BSE proposed
an amendment to its rules governing its
Directed Order process on the BOX.5
The rules were amended to clearly state
that the BOX Trading Host identifies to
an Executing Participant (‘‘EP’’) the
identity of the firm entering a Directed
Order. The amended rule was to be
effective until June 30, 2006, while the
Commission considered a
corresponding Exchange proposal to
amend its rules to permit EPs to choose
the firms from whom they will accept
Directed Orders, while providing
complete anonymity of the firm entering
a Directed Order.6
On June 30, 2006, the Exchange
proposed extending the effective date of
the rule governing its Directed Order
process on the BOX from June 30, 2006
to September 30, 2006 while the
Commission continued to consider the
corresponding Exchange proposal.7
On September 11, 2006, the Exchange
proposed extending the effective date of
the amended rule governing the
Directed Order process on the BOX from
September 30, 2006 to January 31,
2007.8 On January 16, 2007, the
Exchange proposed an additional
amendment from January 31, 2007 until
July 31, 2007, while the Commission
considered the corresponding Exchange
5 See Securities Exchange Act Release No. 53516
(March 20, 2006), 71 FR 15232 (March 27, 2006)
(SR–BSE–2006–14).
6 See Securities Exchange Act Release No. 53357
(February 23, 2006), 71 FR 10730 (March 2, 2006)
(SR–BSE–2005–52).
7 See Securities Exchange Act Release No. 54082
(June 30, 2006), 71 FR 38913 (July 10, 2006) (SR–
BSE–2006–29).
8 See Securities Exchange Act Release No. 54469
(September 19, 2006), 71 FR 56201 (September 26,
2006) (SR–BSE–2006–38).
VerDate Aug<31>2005
16:42 Jul 11, 2007
Jkt 211001
proposal to amend its rules to permit
EPs to choose the firms from whom they
will accept Directed Orders, while
providing complete anonymity of the
firm entering a Directed Order.9
This filing from the Exchange now
proposes another extension of the
effective date of the amended rule
governing its Directed Order process on
BOX from July 31, 2007 to January 31,
2008.10 In the event the Commission
reaches a decision with respect to the
corresponding Exchange proposal to
amend its rules before January 31, 2008,
the amended rule governing the
Exchange’s Directed Order process on
the BOX will cease to be effective at the
time of that decision.
2. Statutory Basis
The amended rule is designed to
clarify the information contained in a
Directed Order. This proposed rule
filing seeks to extend the amended
rule’s effectiveness from July 31, 2007 to
January 31, 2008. This extension will
afford the Commission the necessary
time to consider the Exchange’s
corresponding proposal to amend its
rule to permit EPs to choose the firms
from whom they will accept Directed
Orders while providing complete
anonymity of the firm entering a
Directed Order. Accordingly, the
Exchange believes that this proposal is
consistent with the requirements of
Section 6(b) of the Act,11 in general, and
Section 6(b)(5) of the Act,12 in
particular, in that it is designed to foster
cooperation and coordination with
persons engaged in regulating, clearing,
settling, processing information with
respect to, and facilitating transaction in
securities, to remove impediments to
and perfect the mechanism for a free
and open market and a national market
system, and, in general, 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 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: (1) Does not significantly affect
the protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) by its terms does not become
operative for 30 days after the date of
this filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) 13 of the Act and
Rule 19b–4(f)(6) thereunder.14 As
required under Rule 19b–4(f)(6)(iii),15
the Exchange provided the Commission
with 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
business days prior to the date of the
filing of the proposed rule change.
A proposed rule change filed under
Rule 19b–4(f)(6) 16 normally may not
become operative prior to 30 days after
the date of filing. However, Rule 19b–
4(f)(6)(iii) 17 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
BSE requests that the Commission
waive the 30-day operative delay, as
specified in Rule 19b–4(f)(6)(iii),18
which would make the rule change
effective and operative upon filing. The
Commission believes that waiving the
30-day operative delay is consistent
with the protection of investors and the
public interest because such waiver
would continue to conform the BOX
rules to BOX’s current practice and
clarify that Directed Orders on BOX are
not anonymous without interruption.19
Accordingly, the Commission
designates the proposed rule change
13 15
Securities Exchange Act Release No. 55139
(January 19, 2007), 72 FR 3448 (January 25, 2007)
(SR–BSE–2007–01).
10 In the event that the issue of anonymity in the
Directed Order process is not resolved by January
31, 2008, the Exchange will consider whether to
submit another filing under Rule 19b–4(f)(6)
extending this rule and system process.
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).
PO 00000
9 See
Frm 00049
Fmt 4703
Sfmt 4703
38105
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
15 17 CFR 240.19b–4(f)(6)(iii).
16 17 CFR 240.19b–4(f)(6).
17 17 CFR 240.19b–4(f)(6)(iii).
18 Id.
19 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
14 17
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38106
Federal Register / Vol. 72, No. 133 / Thursday, July 12, 2007 / Notices
operative 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:
rwilkins on PROD1PC63 with NOTICES
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–BSE–2007–31 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–BSE–2007–31. 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 BSE. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
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16:42 Jul 11, 2007
Jkt 211001
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–BSE–2007–31 and should
be submitted on or before August 2,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.20
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–13491 Filed 7–11–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56016; File No. SR–CBOE–
2007–77]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Adopt an
Interpretation to CBOE Rule 3.19
Regarding Temporary Membership
Status Pending Final Commission
Action on a Pending Rule
Interpretation Concerning Exercise
Right Eligibility
July 5, 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 July 2,
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
prepared by the CBOE. The Exchange
has designated this proposal as one
constituting a stated policy, practice, or
interpretation with respect to the
meaning, administration, or
enforcement of an existing rule under
section 19(b)(3)(A)(i) of the Act 3 and
Rule 19b–4(f)(1) 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
CBOE proposes to adopt
Interpretation and Policy .01 under
PO 00000
20 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)(i).
4 17 CFR 240.19b–4(f)(1).
1 15
Frm 00050
Fmt 4703
Sfmt 4703
CBOE Rule 3.19 as follows to address
the nature and extent of temporary
membership status to be granted to
certain persons in the event that the
proposed acquisition of The Board of
Trade of the City of Chicago, Inc.
(‘‘CBOT’’) by Chicago Mercantile
Exchange Holdings Inc. (‘‘CME
Holdings’’) 5 is consummated before the
Commission takes final action on
CBOE’s pending proposed rule change
SR–CBOE–2006–106.6 The text of the
proposed Interpretation and Policy is
provided below (the Interpretation and
Policy is completely new, and is
therefore italicized).
Chicago Board Options Exchange,
Incorporated
Rules
*
*
*
*
*
Rule 3.19. Termination from
Membership
Rule 3.19. No change.
* * * Interpretations and Policies:
.01 If the proposed merger between
Chicago Mercantile Exchange Holdings,
Inc. and CBOT Holdings, Inc. (‘‘CME/
CBOT Transaction’’), the parent
company of the Board of Trade of the
City of Chicago, Inc. (‘‘CBOT’’), is
consummated and if such
consummation occurs before the
Securities and Exchange Commission
(‘‘Commission’’) takes final action on
SR–CBOE–2006–106, a person who is a
member of CBOE (an ‘‘exerciser
member’’) pursuant to paragraph (b) of
Article Fifth of the CBOE Certificate of
Incorporation (‘‘Article Fifth(b)’’) as of
July 1, 2007 will be granted temporary
membership status at the Exchange,
until the Commission takes final action
on SR–CBOE–2006–106, if and only if
such person (i) Remains an exerciser
member in good standing as of the close
of business on the trading day
immediately before the consummation
of the CME/CBOT Transaction, (ii)
thereafter remains in good standing and
continues to pay all applicable fees,
dues, assessments and other like
charges that are assessed against CBOE
members, and (iii) pays to the Exchange,
5 CME Holdings proposes to acquire CBOT by
means of a CME Holdings merger with CBOT
Holdings, Inc. (‘‘CBOT Holdings’’), of which CBOT
is a wholly-owned subsidiary (the ‘‘CME/CBOT
Transaction’’).
6 See Securities Exchange Act Release No. 55190
(January 29, 2007), 72 FR 5472 (February 6, 2007).
The Exchange filed this proposed rule change on
December 12, 2006. On January 17, 2007, the
Exchange filed Amendment No. 1 to the proposed
rule change. Numerous comments were received,
and the Exchange responded to those comments on
June 15, 2007. On June 29, 2007, the Exchange filed
Amendment No. 2 to the proposed rule change.
E:\FR\FM\12JYN1.SGM
12JYN1
]]>Agencies
[Federal Register Volume 72, Number 133 (Thursday, July 12, 2007)]
[Notices]
[Pages 38104-38106]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-13491]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56014; File No. SR-BSE-2007-31]
Self-Regulatory Organizations; Boston Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Extend the Effective Date of a Previous Rule Change Relating to
Information Contained in a Directed Order on the Boston Options
Exchange
July 5, 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 July 2, 2007, the Boston Stock Exchange, Inc. (``BSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been substantially prepared by the BSE. The
BSE filed the proposed rule change as a ``noncontroversial'' proposed
rule change 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 BSE proposes to extend the effective date of the amended rule
governing the Exchange's Directed Order process on the Boston Options
Exchange (``BOX'') from July 31, 2007 to January 31, 2008. The text of
the proposed rule change is available on BSE's Web site at https://
www.bostonoptions.com, at BSE's
[[Page 38105]]
principal office, 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 BSE 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 BSE 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
On March 20, 2006, the BSE proposed an amendment to its rules
governing its Directed Order process on the BOX.\5\ The rules were
amended to clearly state that the BOX Trading Host identifies to an
Executing Participant (``EP'') the identity of the firm entering a
Directed Order. The amended rule was to be effective until June 30,
2006, while the Commission considered a corresponding Exchange proposal
to amend its rules to permit EPs to choose the firms from whom they
will accept Directed Orders, while providing complete anonymity of the
firm entering a Directed Order.\6\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 53516 (March 20,
2006), 71 FR 15232 (March 27, 2006) (SR-BSE-2006-14).
\6\ See Securities Exchange Act Release No. 53357 (February 23,
2006), 71 FR 10730 (March 2, 2006) (SR-BSE-2005-52).
---------------------------------------------------------------------------
On June 30, 2006, the Exchange proposed extending the effective
date of the rule governing its Directed Order process on the BOX from
June 30, 2006 to September 30, 2006 while the Commission continued to
consider the corresponding Exchange proposal.\7\
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 54082 (June 30,
2006), 71 FR 38913 (July 10, 2006) (SR-BSE-2006-29).
---------------------------------------------------------------------------
On September 11, 2006, the Exchange proposed extending the
effective date of the amended rule governing the Directed Order process
on the BOX from September 30, 2006 to January 31, 2007.\8\ On January
16, 2007, the Exchange proposed an additional amendment from January
31, 2007 until July 31, 2007, while the Commission considered the
corresponding Exchange proposal to amend its rules to permit EPs to
choose the firms from whom they will accept Directed Orders, while
providing complete anonymity of the firm entering a Directed Order.\9\
---------------------------------------------------------------------------
\8\ See Securities Exchange Act Release No. 54469 (September 19,
2006), 71 FR 56201 (September 26, 2006) (SR-BSE-2006-38).
\9\ See Securities Exchange Act Release No. 55139 (January 19,
2007), 72 FR 3448 (January 25, 2007) (SR-BSE-2007-01).
---------------------------------------------------------------------------
This filing from the Exchange now proposes another extension of the
effective date of the amended rule governing its Directed Order process
on BOX from July 31, 2007 to January 31, 2008.\10\ In the event the
Commission reaches a decision with respect to the corresponding
Exchange proposal to amend its rules before January 31, 2008, the
amended rule governing the Exchange's Directed Order process on the BOX
will cease to be effective at the time of that decision.
---------------------------------------------------------------------------
\10\ In the event that the issue of anonymity in the Directed
Order process is not resolved by January 31, 2008, the Exchange will
consider whether to submit another filing under Rule 19b-4(f)(6)
extending this rule and system process.
---------------------------------------------------------------------------
2. Statutory Basis
The amended rule is designed to clarify the information contained
in a Directed Order. This proposed rule filing seeks to extend the
amended rule's effectiveness from July 31, 2007 to January 31, 2008.
This extension will afford the Commission the necessary time to
consider the Exchange's corresponding proposal to amend its rule to
permit EPs to choose the firms from whom they will accept Directed
Orders while providing complete anonymity of the firm entering a
Directed Order. Accordingly, the Exchange believes that this proposal
is consistent with the requirements of Section 6(b) of the Act,\11\ in
general, and Section 6(b)(5) of the Act,\12\ in particular, in that it
is designed to foster cooperation and coordination with persons engaged
in regulating, clearing, settling, processing information with respect
to, and facilitating transaction in securities, to remove impediments
to and perfect the mechanism for a free and open market and a national
market system, and, in general, to protect investors and the public
interest.
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\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
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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 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: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) \13\ of the Act and Rule 19b-4(f)(6)
thereunder.\14\ As required under Rule 19b-4(f)(6)(iii),\15\ the
Exchange provided the Commission with 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 business days prior to the
date of the filing of the proposed rule change.
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\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(6).
\15\ 17 CFR 240.19b-4(f)(6)(iii).
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A proposed rule change filed under Rule 19b-4(f)(6) \16\ normally
may not become operative prior to 30 days after the date of filing.
However, Rule 19b-4(f)(6)(iii) \17\ permits the Commission to designate
a shorter time if such action is consistent with the protection of
investors and the public interest. The BSE requests that the Commission
waive the 30-day operative delay, as specified in Rule 19b-
4(f)(6)(iii),\18\ which would make the rule change effective and
operative upon filing. The Commission believes that waiving the 30-day
operative delay is consistent with the protection of investors and the
public interest because such waiver would continue to conform the BOX
rules to BOX's current practice and clarify that Directed Orders on BOX
are not anonymous without interruption.\19\ Accordingly, the Commission
designates the proposed rule change
[[Page 38106]]
operative upon filing with the Commission.
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\16\ 17 CFR 240.19b-4(f)(6).
\17\ 17 CFR 240.19b-4(f)(6)(iii).
\18\ Id.
\19\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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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 rule-comments@sec.gov. Please include
File Number SR-BSE-2007-31 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-BSE-2007-31. 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 BSE. 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-BSE-2007-31 and should be
submitted on or before August 2, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\20\
Florence E. Harmon,
Deputy Secretary.
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\20\ 17 CFR 200.30-3(a)(12).
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[FR Doc. E7-13491 Filed 7-11-07; 8:45 am]
BILLING CODE 8010-01-P
