Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change As Modified by Amendment No. 1 Relating to Exchange Fees and Charges, 42210-42212 [E7-14838]
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42210
Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
jlentini on PROD1PC65 with NOTICES
functions to be performed by such
person.78
Forms U4 and U5 (among other forms)
will require updating in order to delete
allied member registrations and to
replace it with another classification for
principal executive officers (or persons
occupying similar status or having
similar functions), voting stockholders,
and employee directors.
The deletion of the ‘‘allied member’’
category of Exchange association will
not hinder the Exchange’s enforcement
and disciplinary efforts with respect to
individuals who fall into this category.
Specifically, the NYSE Division of
Enforcement can assert jurisdiction
absent allied member status under
NYSE Rule 476 and may bring
disciplinary matters based on a
predicate violation pursuant to the
individual’s supervisory position within
the member organization. An
employee’s status as an allied member
has not been and will not be the sole or
preferred route to enforcement or
disciplinary actions against these
individuals.
Additionally, NYSE Market
Surveillance, in conducting its
investigations, looks at the supervision
of the member organizations, its
supervisory procedures and the capacity
in which the individual is employed
(i.e., supervisory position), not
necessarily the employee’s status as an
allied member of the Exchange.
2. Statutory Basis
The Exchange believes the statutory
basis for proposed rule change is
consistent with the requirements of the
Act and the rules and regulations
thereunder applicable to a national
securities exchange, and in particular,
with the requirements of Section
6(b)(5) 79 of the Act. Section 6(b)(5)
requires, among other things, that the
rules of an exchange be designed to
promote just and equitable principles of
trade, to remove impediments to and
perfect the mechanism of a free and
open market and national market
system, and in general, to protect
investors and the public interest. The
proposed changes will provide greater
harmonization between Exchange and
NASD rules of similar purpose,
resulting in less burdensome and more
efficient regulatory compliance for dualmember organizations. Where proposed
amendments do not entirely conform to
existing NASD rules, the Exchange
believes the standards they would
establish otherwise further the
objectives of Section 6(b)(5) by
78 See
79 15
proposed new Rule 342.13(c).
U.S.C. 78f(b)(5).
VerDate Aug<31>2005
20:12 Jul 31, 2007
Jkt 211001
providing greater regulatory clarity and
practicality.
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 written comments on the
proposed rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Within 35 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
90 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 NYSE consents, the
Commission will:
(A) By order approve such proposed
rule change, or
(B) institute proceedings to determine
whether the proposed rule change
should be disapproved.
IV. Solicitation of Comments
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 NYSE. 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–NYSE–2007–22 and should
be submitted on or before August 22,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.80
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–14853 Filed 7–31–07; 8:45 am]
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:
BILLING CODE 8010–01–P
Electronic Comments
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and Order
Granting Accelerated Approval of
Proposed Rule Change As Modified by
Amendment No. 1 Relating to
Exchange Fees and Charges
• 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–NYSE–2007–22 on the
subject line.
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56133; File No. SR–
NYSEArca–2007–66]
July 25, 2007.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
• Send paper comments in triplicate
notice is hereby given that on July 10,
to Nancy M. Morris, Secretary,
2007, NYSE Arca, Inc. (‘‘NYSE Arca’’ or
Securities and Exchange Commission,
‘‘Exchange’’) filed with the Securities
100 F Street, NE., Washington, DC
and Exchange Commission
20549–1090.
(‘‘Commission’’) the proposed rule
All submissions should refer to File
change as described in Items I and II
Number SR–NYSE–2007–22. This file
below, which Items have been
number should be included on the
substantially prepared by the Exchange.
subject line if e-mail is used. To help the On July 25, 2007, the Exchange filed
Commission process and review your
comments more efficiently, please use
80 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
only one method. The Commission will
2 17 CFR 240.19b–4.
post all comments on the Commission’s
Paper Comments
PO 00000
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01AUN1
Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
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.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend its
Schedule of Fees and Charges for
Exchange Services in order to extend
until July 31, 2008 the current pilot
program regarding transaction fees
charged for trades executed through the
intermarket options linkage (‘‘Linkage’’).
The text of the proposed rule change is
available at the Exchange, the
Commission’s Public Reference Room,
and https://www.nyse.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 III below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
jlentini on PROD1PC65 with NOTICES
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 extend for one year the
pilot program establishing an NYSE
Arca fee for Principal Orders (‘‘P
Orders’’) and Principal Acting as Agent
Orders (‘‘P/A Orders’’) executed through
Linkage. Fees imposed on Linkage
Orders are subject to an Exchange Pilot
Program that will expire July 31, 2007.
This filing proposes to extend the fee
through July 31, 2008. The fee that
NYSE Arca charges for P Orders and
P/A Orders is the basic execution fee for
trading on NYSE Arca. This is the same
fee that all NYSE Arca Option Trading
Permit Holders pay for non-customer
transactions executed on the Exchange.
The Exchange does not charge for the
execution of Satisfaction Orders sent
through Linkage and is not proposing to
charge for such orders.
2. Statutory Basis
The Exchange believes that the
proposal is consistent with section 6(b)
VerDate Aug<31>2005
20:12 Jul 31, 2007
Jkt 211001
of the Act 3 in general, and section
6(b)(4) of the Act 4 in particular, in that
it provides for the equitable allocation
of reasonable dues, fees, and other
charges among its members and other
persons using its facilities for the
purpose of executing P Orders and P/A
Orders that are routed to the Exchange
from other market centers.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change will 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 neither solicited
nor received written comments on 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:
42211
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–NYSEArca–2007–66 and
should be submitted on or before
August 22, 2007.
IV. Commission’s Findings and Order
Granting Accelerated Approval of the
Proposed Rule Change
After careful consideration, the
Commission finds that the proposed
rule change is consistent with the
requirements of the Act and the rules
and regulations thereunder applicable to
a national securities exchange,5 and, in
particular, the requirements of section
6(b) of the Act 6 and the rules and
Electronic Comments
regulations thereunder. The
• Use the Commission’s Internet
Commission finds that the proposed
comment form (https://www.sec.gov/
rule change is consistent with section
rules/sro.shtml); or
6(b)(4) of the Act,7 which requires that
• Send an e-mail to rulethe rules of the Exchange provide for the
comments@sec.gov. Please include File
Number SR–NYSEArca–2007–66 on the equitable allocation of reasonable dues,
fees, and other charges among its
subject line.
members and other persons using its
Paper Comments
facilities. The Commission believes that
the extension of the Linkage fee pilot
• Send paper comments in triplicate
until July 31, 2008 will give the
to Nancy M. Morris, Secretary,
Exchange and the Commission further
Securities and Exchange Commission,
opportunity to evaluate whether such
100 F Street, NE., Washington, DC
fees are appropriate.
20549–1090.
The Commission also finds good
All submissions should refer to File
cause for approving the proposed rule
Number SR–NYSEArca–2007–66. This
change prior to the 30th day after the
file number should be included on the
date of publication of the notice of filing
subject line if e-mail is used. To help the
thereof in the Federal Register. The
Commission process and review your
Commission believes that granting
comments more efficiently, please use
accelerated approval of the proposed
only one method. The Commission will
rule change will preserve the
post all comments on the Commission’s
Exchange’s existing pilot program for
Internet Web site (https://www.sec.gov/
Linkage fees without interruption as the
rules/sro.shtml). Copies of the
Exchange and the Commission continue
submission, all subsequent
considering the appropriateness of
amendments, all written statements
Linkage fees. Therefore, the Commission
with respect to the proposed rule
finds good cause, consistent with
change that are filed with the
Commission, and all written
5 In approving this rule change, the Commission
communications relating to the
notes that it has considered the proposal’s impact
proposed rule change between the
on efficiency, competition, and capital formation.
PO 00000
See 15 U.S.C. 78c(f).
6 15 U.S.C. 78f(b).
7 15 U.S.C. 78f(b)(4).
3 15
U.S.C. 78f(b).
4 15 U.S.C. 78f(b)(4).
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01AUN1
42212
Federal Register / Vol. 72, No. 147 / Wednesday, August 1, 2007 / Notices
section 19(b)(2) of the Exchange Act,8 to
approve the proposed rule change on an
accelerated basis.
V. Conclusion
It is therefore ordered, pursuant to
section 19(b)(2) of the Act,9 that the
proposed rule change (SR–NYSEArca–
2007–66), as modified by Amendment
No. 1, be, and it hereby is, approved on
an accelerated basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–14838 Filed 7–31–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56131; File No. SR–
NYSEArca–2007–57]
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and Order
Granting Accelerated Approval of
Proposed Rule Change To List and
Trade Currency Trust Shares
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 21,
2007, NYSE Arca, Inc. (the ‘‘Exchange’’),
through its wholly-owned subsidiary,
NYSE Arca Equities, Inc. (‘‘NYSE Arca
Equities’’), filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change (‘‘Exchange
Notice’’) as described in Items I and II
below, which Items have been
substantially prepared by the Exchange.
This order provides notice of the
proposed rule change and approves the
proposed rule change on an accelerated
basis.
jlentini on PROD1PC65 with NOTICES
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to list and
trade shares (‘‘Shares’’) of the following
trusts: (1) CurrencySharesSM Australian
Dollar Trust; (2) CurrencySharesSM
British Pound Sterling Trust; (3)
CurrencySharesSM Canadian Dollar
Trust; (4) CurrencySharesSM Euro Trust
(formerly, Euro Currency Trust); (5)
CurrencySharesSM Japanese Yen Trust;
(6) CurrencySharesSM Mexican Peso
8 15
U.S.C. 78s(b)(2).
U.S.C. 78s(b)(2).
10 17 CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
9 15
VerDate Aug<31>2005
20:12 Jul 31, 2007
Jkt 211001
Trust; (7) CurrencySharesSM Swedish
Krona Trust; and (8) CurrencySharesSM
Swiss Franc Trust (individually, a
‘‘Trust,’’ and collectively, the
‘‘Trusts’’),3 pursuant to NYSE Arca
Equities Rule 8.202. The text of the
proposed rule change is available at the
Exchange, the Commission’s Public
Reference Room, and https://
www.nyse.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 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 proposes to list and
trade the Shares pursuant to NYSE Arca
Equities Rule 8.202, which permits the
trading of Currency Trust Shares 4 either
by listing or pursuant to unlisted trading
privileges (‘‘UTP’’). The Shares are
currently listed on the New York Stock
Exchange LLC (‘‘NYSE’’),5 and the
3 The Exchange represents that the Trusts are
formed under the laws of the State of New York and
are not registered under the Investment Company
Act of 1940.
4 As defined in NYSE Arca Equities Rule 8.202(c),
‘‘Currency Trust Shares’’ are securities that: (1) Are
issued by a trust that holds a specified non-U.S.
currency deposited with the trust; (2) when
aggregated in some specified minimum number,
may be surrendered to such trust by the beneficial
owner to receive the specified non-U.S. currency;
and (3) pay to the beneficial owners interest and
other distributions on the deposited non-U.S.
currency, if any, declared and paid by the Trust.
See Securities Exchange Act Release No. 53253
(February 8, 2006), 71 FR 8029 (February 15, 2006)
(SR–PCX–2005–123) (approving the adoption of
generic listing and trading standards for Currency
Trust Shares and the trading of shares of the
CurrencySharesSM Euro Trust pursuant to UTP).
5 See Securities Exchange Act Release Nos. 55268
(February 9, 2007), 72 FR 7793 (February 20, 2007)
(SR–NYSE–2007–03) (approving the listing and
trading of shares of the CurrencySharesSM Japanese
Yen Trust); 54020 (June 20, 2006), 71 FR 36579
(June 27, 2006) (SR–NYSE–2006–35) (approving the
listing and trading of shares of the
CurrencySharesSM Australian Dollar Trust,
CurrencySharesSM British Pound Sterling Trust,
CurrencySharesSM Canadian Dollar Trust,
CurrencySharesSM Mexican Peso Trust,
CurrencySharesSM Swedish Krona Trust, and
PO 00000
Frm 00171
Fmt 4703
Sfmt 4703
Exchange currently trades the Shares
pursuant to UTP.6 The Shares of the
Trusts will transfer their listing from
NYSE to the Exchange.7
Each Trust holds the applicable
foreign currency 8 and is expected from
time to time to issue Baskets 9 in
exchange for deposits of the foreign
currency and to distribute the foreign
currency in connection with
redemptions of Baskets. The Shares,
which are issued by their corresponding
Trust, represent units of fractional
undivided beneficial interest in, and
ownership of, such Trust. The
investment objective of the Trusts is for
the Shares to reflect the price (U.S.
dollars) of the applicable foreign
currency owned by the specific Trust,
plus accrued interest, less the expenses
and liabilities of such Trust. The Shares
are intended to provide institutional
and retail investors with a simple, costeffective means of hedging their
exposure to a particular foreign
currency and otherwise implement
investment strategies that involve
foreign currencies (e.g., diversify
generally against the risk that the U.S.
dollar would depreciate).
Rydex Specialized Products LLC is
the sponsor of the Trusts (‘‘Sponsor’’);
The Bank of New York is the trustee of
the Trusts (‘‘Trustee’’); JPMorgan Chase
Bank, N.A., London Branch, is the
depository for the Trusts (‘‘Depository’’);
and Rydex Distributors, Inc. is the
distributor for the Trusts
(‘‘Distributor’’).10 A detailed discussion
CurrencySharesSM Swiss Franc Trust); and 52843
(November 28, 2005), 70 FR 72486 (December 5,
2005) (SR–NYSE 2005–65) (approving the listing
and trading of shares of the CurrencySharesSM Euro
Trust) (collectively, the ‘‘NYSE Approval Orders’’).
6 See supra note 4; Securities Exchange Act
Release Nos. 55320 (February 21, 2007), 72 FR 8828
(February 27, 2007) (SR–NYSEArca–2007–15)
(approving the trading of shares of the
CurrencySharesSM Japanese Yen Trust pursuant to
UTP); and 54043 (June 26, 2006), 71 FR 37967, (July
3, 2006) (SR–NYSEArca–2006–26) (approving the
trading of shares of the CurrencySharesSM
Australian Dollar Trust, CurrencySharesSM British
Pound Sterling Trust, CurrencySharesSM Canadian
Dollar Trust, CurrencySharesSM Mexican Peso
Trust, CurrencySharesSM Swedish Krona Trust, and
CurrencySharesSM Swiss Franc Trust pursuant to
UTP).
7 E-mail from Timothy J. Malinowski, Director,
NYSE Group, Inc., to Edward Cho, Special Counsel,
Division of Market Regulation, Commission, dated
July 11, 2007 (confirming the listing status of the
Shares).
8 The Trusts do not hold any derivative products.
9 A ‘‘Basket’’ is defined as an aggregation of
50,000 Shares.
10 The Exchange represents that the Sponsor,
Trustee, Distributor, and Depository are not
affiliated with the Exchange or one another, with
the exception that the Sponsor and Distributor are
affiliated. The Exchange further represents that no
compensation is paid by the Sponsor to the
Distributor in connection with services performed
by the Distributor for the Trusts.
E:\FR\FM\01AUN1.SGM
01AUN1
]]>Agencies
[Federal Register Volume 72, Number 147 (Wednesday, August 1, 2007)]
[Notices]
[Pages 42210-42212]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-14838]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56133; File No. SR-NYSEArca-2007-66]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Order Granting Accelerated Approval of Proposed Rule Change As
Modified by Amendment No. 1 Relating to Exchange Fees and Charges
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 July 10, 2007, NYSE Arca, Inc. (``NYSE Arca'' 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 25, 2007, the
Exchange filed
[[Page 42211]]
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.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to amend its Schedule of Fees and Charges for
Exchange Services in order to extend until July 31, 2008 the current
pilot program regarding transaction fees charged for trades executed
through the intermarket options linkage (``Linkage''). The text of the
proposed rule change is available at the Exchange, the Commission's
Public Reference Room, and https://www.nyse.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 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 purpose of this proposed rule change is to extend for one year
the pilot program establishing an NYSE Arca fee for Principal Orders
(``P Orders'') and Principal Acting as Agent Orders (``P/A Orders'')
executed through Linkage. Fees imposed on Linkage Orders are subject to
an Exchange Pilot Program that will expire July 31, 2007. This filing
proposes to extend the fee through July 31, 2008. The fee that NYSE
Arca charges for P Orders and P/A Orders is the basic execution fee for
trading on NYSE Arca. This is the same fee that all NYSE Arca Option
Trading Permit Holders pay for non-customer transactions executed on
the Exchange. The Exchange does not charge for the execution of
Satisfaction Orders sent through Linkage and is not proposing to charge
for such orders.
2. Statutory Basis
The Exchange believes that the proposal is consistent with section
6(b) of the Act \3\ in general, and section 6(b)(4) of the Act \4\ in
particular, in that it provides for the equitable allocation of
reasonable dues, fees, and other charges among its members and other
persons using its facilities for the purpose of executing P Orders and
P/A Orders that are routed to the Exchange from other market centers.
---------------------------------------------------------------------------
\3\ 15 U.S.C. 78f(b).
\4\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change will 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 neither solicited nor received written comments on
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 rule-comments@sec.gov. Please include
File Number SR-NYSEArca-2007-66 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-NYSEArca-2007-66. 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-NYSEArca-2007-66 and should
be submitted on or before August 22, 2007.
IV. Commission's Findings and Order Granting Accelerated Approval of
the Proposed Rule Change
After careful consideration, the Commission finds that the proposed
rule change is consistent with the requirements of the Act and the
rules and regulations thereunder applicable to a national securities
exchange,\5\ and, in particular, the requirements of section 6(b) of
the Act \6\ and the rules and regulations thereunder. The Commission
finds that the proposed rule change is consistent with section 6(b)(4)
of the Act,\7\ which requires that the rules of the Exchange provide
for the equitable allocation of reasonable dues, fees, and other
charges among its members and other persons using its facilities. The
Commission believes that the extension of the Linkage fee pilot until
July 31, 2008 will give the Exchange and the Commission further
opportunity to evaluate whether such fees are appropriate.
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\5\ In approving this rule change, the Commission notes that it
has considered the proposal's impact on efficiency, competition, and
capital formation. See 15 U.S.C. 78c(f).
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(4).
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The Commission also finds good cause for approving the proposed
rule change prior to the 30th day after the date of publication of the
notice of filing thereof in the Federal Register. The Commission
believes that granting accelerated approval of the proposed rule change
will preserve the Exchange's existing pilot program for Linkage fees
without interruption as the Exchange and the Commission continue
considering the appropriateness of Linkage fees. Therefore, the
Commission finds good cause, consistent with
[[Page 42212]]
section 19(b)(2) of the Exchange Act,\8\ to approve the proposed rule
change on an accelerated basis.
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\8\ 15 U.S.C. 78s(b)(2).
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V. Conclusion
It is therefore ordered, pursuant to section 19(b)(2) of the
Act,\9\ that the proposed rule change (SR-NYSEArca-2007-66), as
modified by Amendment No. 1, be, and it hereby is, approved on an
accelerated basis.
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\9\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-14838 Filed 7-31-07; 8:45 am]
BILLING CODE 8010-01-P
