Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Existing Fee Schedules, 42157-42158 [E7-14833]
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Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
be submitted on or before August 22,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.11
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–14831 Filed 7–31–07; 8:45 am]
BILLING CODE 8010–01–P
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56129; File No. SR–BSE–
2007–29]
Self-Regulatory Organizations; Boston
Stock Exchange, Inc.; Notice of Filing
and Immediate Effectiveness of
Proposed Rule Change to Amend the
Existing Fee Schedules
July 25, 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 28,
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, II, and
III below, which Items have been
substantially prepared by the Exchange.
The BSE has designated this proposal as
one changing a due, fee, or other charge
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 BSE proposes to amend certain
transaction fees set forth in the Boston
Equities Exchange (‘‘BeX’’) fee schedule.
The text of the proposed rule change is
available at https://
www.bostonstock.com, at the BSE, and
at the Commission’s Public Reference
Room.
jlentini on PROD1PC65 with NOTICES
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for,
11 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)(ii).
4 17 CFR 240.19b–4(f)(2).
1 15
VerDate Aug<31>2005
20:12 Jul 31, 2007
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.
1. Purpose
On November 20, 2006, the BSE filed
File No. SR–BSE–2006–44, a rule filing
that amended the existing BSE fee
schedule and established a fee schedule
for the BeX, a facility of the Exchange.
On March 5, 2007, a subsequent filing,
SR–BSE–2007–13, was made to add a
new Smart Order Routing fee. This fee
is charged to Members on whose behalf
an order is routed and who are also not
members or subscribers of the away
market center and, as a result, must
utilize the give-up services provided
through the Exchange. In this filing, the
Exchange proposes to revise the rate for
this service from $0.0050 per share to
$0.0040 per share, with an operative
date of July 1, 2007. The cost to the
Exchange to provide this service has
been reduced and, as a result, the
Exchange proposes to pass these cost
savings on to its Members.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the requirements of section 6(b) of the
Act,5 in general, and furthers the
objectives of section 6(b)(4) of the Act,6
in particular, in that it is designed to
provide for the equitable allocation of
reasonable dues, fees and other charges
among Exchange members and issuers
and other persons using Exchange
facilities.
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.
5 15
6 15
Jkt 211001
PO 00000
U.S.C. 78f(b).
U.S.C. 78f(b)(4).
Frm 00116
Fmt 4703
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 7 and Rule 19b–4(f)(2) thereunder,8
because it establishes or changes a due,
fee, or other charge imposed by the
Exchange. Accordingly, the proposal
will take effect upon filing with the
Commission.
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
such rule change if it appears to the
Commission that such action is
necessary or appropriate in the public
interest, for the protection of investors,
or otherwise in furtherance of the
purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments:
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–BSE–2007–29 on the
subject line.
Paper Comments:
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–BSE–2007–29. 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
7 15
8 17
Sfmt 4703
42157
E:\FR\FM\01AUN1.SGM
U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
01AUN1
42158
Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
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 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–2007–29 and should
be submitted on or before August 22,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–14833 Filed 7–31–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56132; File No. SR–CBOE–
2007–71]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Order Granting Accelerated Approval
of Proposed Rule Change as Modified
by Amendment No. 1 Relating to an
Extension of the Linkage Fee Pilot
Program
jlentini on PROD1PC65 with NOTICES
July 25, 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 28,
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 and II
below, which Items have been
substantially prepared by the Exchange.
On July 20, 2007, CBOE filed
Amendment No. 1 to the proposed rule
change. This order provides notice of
the proposed rule change, as modified
by Amendment No. 1, and approves the
proposed rule change, as amended, on
an accelerated basis.
9 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Aug<31>2005
20:12 Jul 31, 2007
Jkt 211001
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
CBOE proposes to amend its Fees
Schedule to extend until July 31, 2008
the Options Intermarket Linkage
(‘‘Linkage’’) fees pilot program. The text
of the proposed rule change is available
at the Exchange, the Commission’s
Public Reference Room, and https://
www.cboe.org/legal.
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 III 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 Exchange’s fees for Principal
Orders (‘‘P Orders’’) and Principal
Acting as Agent Orders (‘‘P/A Orders’’) 3
are operating under a pilot program
scheduled to expire on July 31, 2007.4
The Exchange proposes to amend its
Fees Schedule to extend the pilot
program until July 31, 2008.
The Exchange assesses its members
the following Linkage Order related
fees: (i) $.26 per contract transaction fee,
(ii) $.30 per contract Retail Automatic
Execution System (‘‘RAES’’) access fee,
if a Linkage Order is executed in whole
3 Under the Plan for the Purpose of Creating and
Operating an Options Intermarket Linkage (‘‘Plan’’)
and Exchange Rule 6.80(12), which tracks the
language of the Plan, a ‘‘Linkage Order’’ means an
Immediate or Cancel Order routed through the
Linkage as permitted under the Plan. There are
three types of Linkage Orders: (i) ‘‘P/A Order,’’
which is an order for the principal account of a
specialist (or equivalent entity an another
Participant Exchange that is authorized to represent
Public Customer orders), reflecting the terms of a
related unexecuted Public Customer order for
which the specialist is acting as agent; (ii) ‘‘P
Order,’’ which is an order for the principal account
of an Eligible Market Maker and is not a P/A Order;
and (iii) ‘‘Satisfaction Order,’’ which is an order
sent through the Linkage to notify a member of
another Participant Exchange of a Trade-Through
and to seek satisfaction of the liability arising from
that Trade-Through.
4 See Securities Exchange Act Release No. 54272
(August 3, 2006), 71 FR 45865 (August 10, 2006)
(SR–CBOE–2006–59).
PO 00000
Frm 00117
Fmt 4703
Sfmt 4703
or in part on RAES, and (iii) $.10 per
contract surcharge fee on transactions in
options on the Nasdaq-100 Index (MNX
and NDX) and options on the Russell
2000 Index (RUT).5 Satisfaction Orders
are not assessed Exchange fees.
The Exchange believes that extension
of the Linkage fee pilot program until
July 31, 2008 will give the Exchange and
the Commission further opportunity to
evaluate the appropriateness of Linkage
fees.
The Exchange also proposes to amend
section 21 of the Fees Schedule to
change the Linkage fees pilot expiration
date included in that section to July 31,
2008, thereby extending the term of the
DPM Linkage Fees Credit program for P/
A Orders.
2. Statutory Basis
The proposed fee change is consistent
with section 6(b) of the Act 6 in general,
and furthers the objectives of section
6(b)(4) of the Act 7 in particular, in that
it is designed to provide for the
equitable allocation of reasonable dues,
fees, and other charges among CBOE
members and other persons using its
facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will impose any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. 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
5 See CBOE Fees Schedule, Footnote 14.
Surcharge fees are also assessed on OEX, XEO, SPX,
VIX, DJX and DXL options. However, Linkage fees
do not apply to these products because they are not
multiply listed.
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(4).
E:\FR\FM\01AUN1.SGM
01AUN1
]]>Agencies
[Federal Register Volume 72, Number 147 (Wednesday, August 1, 2007)]
[Notices]
[Pages 42157-42158]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-14833]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56129; File No. SR-BSE-2007-29]
Self-Regulatory Organizations; Boston Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change to
Amend the Existing Fee Schedules
July 25, 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 28, 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, II,
and III below, which Items have been substantially prepared by the
Exchange. The BSE has designated this proposal as one changing a due,
fee, or other charge 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 BSE proposes to amend certain transaction fees set forth in the
Boston Equities Exchange (``BeX'') fee schedule. The text of the
proposed rule change is available at https://www.bostonstock.com, at the
BSE, and at the Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of, and basis for, the proposed rule change 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
On November 20, 2006, the BSE filed File No. SR-BSE-2006-44, a rule
filing that amended the existing BSE fee schedule and established a fee
schedule for the BeX, a facility of the Exchange. On March 5, 2007, a
subsequent filing, SR-BSE-2007-13, was made to add a new Smart Order
Routing fee. This fee is charged to Members on whose behalf an order is
routed and who are also not members or subscribers of the away market
center and, as a result, must utilize the give-up services provided
through the Exchange. In this filing, the Exchange proposes to revise
the rate for this service from $0.0050 per share to $0.0040 per share,
with an operative date of July 1, 2007. The cost to the Exchange to
provide this service has been reduced and, as a result, the Exchange
proposes to pass these cost savings on to its Members.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the requirements of section 6(b) of the Act,\5\ in general, and
furthers the objectives of section 6(b)(4) of the Act,\6\ in
particular, in that it is designed to provide for the equitable
allocation of reasonable dues, fees and other charges among Exchange
members and issuers and other persons using Exchange facilities.
---------------------------------------------------------------------------
\5\ 15 U.S.C. 78f(b).
\6\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
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
The foregoing proposed rule change has been designated as a fee
change pursuant to section 19(b)(3)(A)(ii) of the Act \7\ and Rule 19b-
4(f)(2) thereunder,\8\ because it establishes or changes a due, fee, or
other charge imposed by the Exchange. Accordingly, the proposal will
take effect upon filing with the Commission.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78s(b)(3)(A)(ii).
\8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments:
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-BSE-2007-29 on the subject line.
Paper Comments:
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-BSE-2007-29. 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
[[Page 42158]]
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 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-2007-29 and should be
submitted on or before August 22, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\9\
Florence E. Harmon,
Deputy Secretary.
---------------------------------------------------------------------------
\9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
[FR Doc. E7-14833 Filed 7-31-07; 8:45 am]
BILLING CODE 8010-01-P
