Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change Relating to Transaction Charges Applicable to Linkage “P” and “P/A” Orders, 43312-43314 [E7-15094]
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43312
Federal Register / Vol. 72, No. 149 / Friday, August 3, 2007 / Notices
notification in writing has occurred
before the date of closing, the matter
will be adjudicated pursuant to NYSE
Disciplinary Rules. If no such
notification has occurred, the matter
will be addressed by FINRA, pursuant
to FINRA rules.
Minor violations of Member Firm
Rules that are currently adjudicated
under NYSE Rule 476A (Imposition of
Fines for Minor Violation(s) of Rules)
(also known as summary fines) will be
handled as follows: If a summary fine
notice relating to any violation,
including violations of Member Firm
Rules, is issued before the date of
closing, the matter will be adjudicated
pursuant to NYSE rules. With respect to
matters arising after the date of closing,
NASD expects to file a rule change to
modify its Minor Rule Violation Plan
(‘‘MRVP’’) to include the NYSE Member
Firm Rules that, as of the date of such
filing, are listed in NYSE Rule 476A. If
the Commission approves that filing,
after the closing, FINRA will be
authorized to impose fines under
FINRA’s MRVP for minor violations by
dual members of the NYSE Member
Firm Rules enumerated in FINRA’s
MRVP.8
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the objectives of section 6 9 of the Act 10
in general and furthers the objectives of
section 6(b)(5) 11 in particular, in that it
is designed to promote just and
equitable principles of trade, to remove
impediments to and perfect the
mechanism of 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
mstockstill on PROD1PC66 with NOTICES
The Exchange has neither solicited
nor received written comments on the
proposed rule change.
8 Pending approval of SR–NASD–2007–55,
FINRA will have the authority to impose MRVP
fines that relate to the NYSE Member Firm Rules
pursuant to the RSA.
9 15 U.S.C. 78f.
10 15 U.S.C. 78a.
11 15 U.S.C. 78f(b)(5).
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18:17 Aug 02, 2007
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III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to section 19(b)(3)(A)
of the Act 12 and Rule 19b–4(f)(1) 13
thereunder because it constitutes a
stated policy, practice or interpretation
with respect to the meaning,
administration, or enforcement of an
existing rule. 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–NYSE–2007–69 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–NYSE–2007–69. 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 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–2007–69 and should
be submitted on or before August 24,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Nancy M. Morris,
Secretary.
[FR Doc. E7–15096 Filed 8–2–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56166; File No. SR–Phlx–
2007–52]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Order Granting
Accelerated Approval of Proposed
Rule Change Relating to Transaction
Charges Applicable to Linkage ‘‘P’’
and ‘‘P/A’’ Orders
July 30, 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 19,
2007, the Philadelphia Stock Exchange,
Inc. (‘‘Phlx’’ 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. This order provides notice of
the proposed rule change and approves
the proposed rule change on an
accelerated basis.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Phlx proposes to extend, for a
one-year period, a pilot relating to
transaction fees applicable to the
execution of Principal Acting as Agent
14 17
12 15
U.S.C. 78s(b)(3)(A).
13 17 CFR 240.19b–4(f)(1).
PO 00000
Frm 00091
Fmt 4703
Sfmt 4703
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\03AUN1.SGM
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Federal Register / Vol. 72, No. 149 / Friday, August 3, 2007 / Notices
Orders (‘‘P/A Orders’’) 3 and Principal
Orders (‘‘P Orders’’) 4 sent to the
Exchange via the Intermarket Option
Linkage (‘‘Linkage’’) under the Plan for
the Purpose of Creating and Operating
an Intermarket Option Linkage (the
‘‘Plan’’).5 The Exchange proposes to
extend the pilot through July 31, 2008.
The text of the proposed rule change is
available at the Exchange, the
Commission’s Public Reference Room,
and https://www.phlx.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
Phlx has prepared summaries, set forth
in sections A, B, and C below, of the
most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
mstockstill on PROD1PC66 with NOTICES
1. Purpose
The purpose of the proposed rule
change is to extend the current pilot
program for one year, through July 31,
2008.6
The Exchange currently charges $0.25
per option contract for P Orders sent to
3 A P/A Order is an order for the principal
account of a specialist reflecting the terms of a
related unexecuted Public Customer order for
which the specialist is acting as agent. See
Exchange Rule 1083(k)(i).
4 A P Order is an order for the principal account
of an Eligible Market Maker and is not a P/A Order.
See Exchange Rule 1083(k)(ii).
5 See Securities Exchange Act Release Nos. 44482
(June 27, 2001), 66 FR 35470 (July 5, 2001)
(amendment to Plan to conform the Plan to the
requirements of Securities Exchange Act Rule
11Ac1–7); 43573 (November 16, 2000), 65 FR 70851
(November 28, 2000) (order approving an
amendment to the Plan to add Phlx as a
Participant); and 43086 (July 28, 2000), 65 FR 48023
(August 4, 2000) (order approving the Plan).
6 The Exchange filed a separate proposed rule
change to extend, for a one-year period through July
31, 2008, the Exchange’s current pilot program
relating to an option transaction charge credit of
$0.21 per contract for Exchange options specialist
units that incur Phlx option transaction charges
when a customer order is delivered to the limit
order book via the Exchange’s Options Floor Broker
Management System and is then sent to an away
market and executed via Linkage under the Plan.
This separate proposal will be in effect for the same
time period as fees for Linkage P Orders and P/A
Orders. See Securities Exchange Act Release No.
56101 (July 19, 2007), 72 FR 40920 (July 25, 2007)
(SR–Phlx–2007–50).
VerDate Aug<31>2005
18:17 Aug 02, 2007
Jkt 211001
the Exchange via Linkage under the
Plan. The Exchange currently charges
$0.15 per option contract for P/A
Orders.
By extending the current pilot
program, the Exchange should remain
competitive with other exchanges that
charge fees for P Orders and P/A
Orders.7 Consistent with current
practice, the Exchange will charge the
clearing member organization of the
sender of P Orders and P/A Orders.
Also, consistent with current practice,
the Exchange will not charge for the
execution of Satisfaction Orders sent
through Linkage.
2. Statutory Basis
The Exchange believes that its
proposal is consistent with section 6(b)
of the Act 8 in general, and furthers the
objectives of section 6(b)(4) of the Act 9
in particular, in that it is an equitable
allocation of reasonable fees among
Exchange members.10
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
No written comments were either
solicited or received.
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
7 See Securities Exchange Act Release Nos. 54204
(July 25, 2006), 71 FR 43548 (August 1, 2006) (SR–
ISE–2006–38); 54225 (July 27, 2006), 71 FR 44056
(August 3, 2006) (SR–BSE–2006–26); 54272 (August
3, 2006), 71 FR 45865 (August 10, 2006) (SR–
CBOE–2006–59); 54230 (July 27, 2006), 71 FR
44757 (August 7, 2006) (SR–NYSEArca–2006–41).
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(4).
10 The Exchange clarified that Section 6(b)(4) of
the Act requires equitable allocation of reasonable
fees among Exchange members and issuers and
other persons using its facilities. See Telephone
conversation between Richard Rudolph, Vice
President and Counsel, Phlx to Ronesha A. Butler,
Special Counsel, Division of Market Regulation,
Commission, dated July 27, 2007.
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
43313
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–Phlx–2007–52 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–Phlx–2007–52. 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–Phlx–2007–52 and should
be submitted on or before August 24,
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,11 and, in
particular, the requirements of section
6(b) of the Act 12 and the rules and
regulations thereunder. The
11 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).
12 15 U.S.C. 78f(b).
E:\FR\FM\03AUN1.SGM
03AUN1
43314
Federal Register / Vol. 72, No. 149 / Friday, August 3, 2007 / Notices
Commission finds that the proposed
rule change is consistent with section
6(b)(4) of the Act,13 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.
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
section 19(b)(2) of the Exchange Act,14
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,15 that the
proposed rule change (SR–Phlx–2007–
52), be and it hereby is, approved on an
accelerated basis.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.16
Nancy M. Morris,
Secretary.
[FR Doc. E7–15094 Filed 8–2–07; 8:45 am]
BILLING CODE 8010–01–P
DEPARTMENT OF STATE
[Public Notice: 5873]
30-Day Notice of Proposed Information
Collection: DS 4079, QuestionnaireInformation for Determining Possible
Loss of United States Citizenship,
(New-OMB No.1405–XXXX)
Notice of request for public
comments and submission to OMB of
proposed collection of information.
mstockstill on PROD1PC66 with NOTICES
ACTION:
SUMMARY: The Department of State has
submitted the following information
collection request to the Office of
Management and Budget (OMB) for
13 15
U.S.C. 78f(b)(4).
U.S.C. 78s(b)(2).
15 15 U.S.C. 78s(b)(2).
16 17 CFR 200.30–3(a)(12).
14 15
VerDate Aug<31>2005
18:17 Aug 02, 2007
Jkt 211001
approval in accordance with the
Paperwork Reduction Act of 1995.
• Title of Information Collection:
Questionnaire: Information for
Determining Possible Loss of United
States Citizenship.
• OMB Control Number: New-OMB
No.1405–XXXX.
• Type of Request: New Information
Collection.
• Originating Office: Bureau of
Consular Affairs, Overseas Citizens
Services (CA/OCS).
• Form Number: DS 4079.
• Respondents: United States
Citizens.
• Estimated Number of Respondents:
2,298.
• Estimated Number of Responses:
2,298.
• Average Hours per Response: 15
minutes.
• Total Estimated Burden: 575 hours.
• Frequency: On Occasion.
• Obligation to Respond: Required to
obtain or retain benefits.
DATES: Submit comments to the Office
of Management and Budget (OMB) for
up to 30 days from August 3, 2007.
ADDRESSES: You may submit comments
by any of the following methods: Direct
comments and questions to Katherine
Astrich, the Department of State Desk
Officer in the Office of Information and
Regulatory Affairs at the Office of
Management and Budget (OMB), who
may be reached at 202–395–4718. You
may submit comments by any of the
following methods:
• E-mail: kastrich@omb.eop.gov. You
must include the DS form number,
information collection title, and OMB
control number in the subject line of
your message.
• Mail (paper, disk, or CD–ROM
submissions): Office of Information and
Regulatory Affairs, Office of
Management and Budget, 725 17th
Street, NW., Washington, DC 20503.
• Fax: 202–395–6974.
You must include the DS form
number (if applicable), information
collection title, and OMB control
number in any correspondence.
FOR FURTHER INFORMATION CONTACT:
Direct requests for additional
information regarding the collection
listed in this notice, including requests
for copies of the proposed information
collection and supporting documents, to
Derek A. Rivers, Bureau of Consular
Affairs, Overseas Citizens Services (CA/
OCS/PRI), U.S. Department of State,
SA–29, 4th Floor, Washington, DC
20520, who may be reached on (202)
736–9028 or ASKPRI@state.gov.
SUPPLEMENTARY INFORMATION: We are
soliciting public comments to permit the
Department to:
PO 00000
Frm 00093
Fmt 4703
Sfmt 4703
• Evaluate whether the proposed
information collection is necessary for
the proper performance of our
functions.
• Evaluate the accuracy of our
estimate of the burden of the proposed
collection, including the validity of the
methodology and assumptions used.
• Enhance the quality, utility, and
clarity of the information to be
collected.
• Minimize the reporting burden on
those who are to respond, including the
use of automated collection techniques
or other forms of technology.
Abstract of Proposed Collection
The purpose of the DS–4079
questionnaire is to determine current
citizenship status and the possibility of
loss of United States citizenship. The
information provided in the
questionnaire assists consular officers
and the Department of State in
determining if the U.S. citizen has lost
his or her nationality by voluntarily
performing an expatriating act with the
intention of relinquishing United States
nationality.
Methodology
The information is collected in
person, by fax, or via mail. The Bureau
of Consular Affairs is currently
exploring options to make this
information collection available
electronically.
Dated: July 18, 2007.
Maura Harty,
Assistant Secretary, Bureau of Consular
Affairs, Department of State.
[FR Doc. E7–15132 Filed 8–2–07; 8:45 am]
BILLING CODE 4710–06–P
DEPARTMENT OF STATE
[Public Notice 5874]
Notice of Finding of No Significant
Impact from Construction of a New
Livestock Crossing near San Luis,
Arizona
Department of State.
Notice.
AGENCY:
ACTION:
SUMMARY: The Department of State is
publishing a Finding of No Significant
Impact (FONSI) for the proposed
construction of a new livestock crossing
(the ‘‘San Luis Cattle Crossing’’) at the
United States-Mexican border 2,500 feet
(approximately half a mile) east of an
existing livestock crossing near San
Luis, Arizona. The closing of the
existing livestock crossing and its
relocation to this new location is
necessitated by construction of the new
San Luis II commercial border crossing
E:\FR\FM\03AUN1.SGM
03AUN1
]]>Agencies
[Federal Register Volume 72, Number 149 (Friday, August 3, 2007)]
[Notices]
[Pages 43312-43314]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-15094]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56166; File No. SR-Phlx-2007-52]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Order Granting Accelerated Approval of Proposed
Rule Change Relating to Transaction Charges Applicable to Linkage ``P''
and ``P/A'' Orders
July 30, 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 19, 2007, the Philadelphia Stock Exchange, Inc. (``Phlx'' 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.
This order provides notice of the proposed rule change and approves the
proposed rule change 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 Phlx proposes to extend, for a one-year period, a pilot
relating to transaction fees applicable to the execution of Principal
Acting as Agent
[[Page 43313]]
Orders (``P/A Orders'') \3\ and Principal Orders (``P Orders'') \4\
sent to the Exchange via the Intermarket Option Linkage (``Linkage'')
under the Plan for the Purpose of Creating and Operating an Intermarket
Option Linkage (the ``Plan'').\5\ The Exchange proposes to extend the
pilot through July 31, 2008. The text of the proposed rule change is
available at the Exchange, the Commission's Public Reference Room, and
https://www.phlx.com.
---------------------------------------------------------------------------
\3\ A P/A Order is an order for the principal account of a
specialist reflecting the terms of a related unexecuted Public
Customer order for which the specialist is acting as agent. See
Exchange Rule 1083(k)(i).
\4\ A P Order is an order for the principal account of an
Eligible Market Maker and is not a P/A Order. See Exchange Rule
1083(k)(ii).
\5\ See Securities Exchange Act Release Nos. 44482 (June 27,
2001), 66 FR 35470 (July 5, 2001) (amendment to Plan to conform the
Plan to the requirements of Securities Exchange Act Rule 11Ac1-7);
43573 (November 16, 2000), 65 FR 70851 (November 28, 2000) (order
approving an amendment to the Plan to add Phlx as a Participant);
and 43086 (July 28, 2000), 65 FR 48023 (August 4, 2000) (order
approving the Plan).
---------------------------------------------------------------------------
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 Phlx 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 the proposed rule change is to extend the current
pilot program for one year, through July 31, 2008.\6\
---------------------------------------------------------------------------
\6\ The Exchange filed a separate proposed rule change to
extend, for a one-year period through July 31, 2008, the Exchange's
current pilot program relating to an option transaction charge
credit of $0.21 per contract for Exchange options specialist units
that incur Phlx option transaction charges when a customer order is
delivered to the limit order book via the Exchange's Options Floor
Broker Management System and is then sent to an away market and
executed via Linkage under the Plan. This separate proposal will be
in effect for the same time period as fees for Linkage P Orders and
P/A Orders. See Securities Exchange Act Release No. 56101 (July 19,
2007), 72 FR 40920 (July 25, 2007) (SR-Phlx-2007-50).
---------------------------------------------------------------------------
The Exchange currently charges $0.25 per option contract for P
Orders sent to the Exchange via Linkage under the Plan. The Exchange
currently charges $0.15 per option contract for P/A Orders.
By extending the current pilot program, the Exchange should remain
competitive with other exchanges that charge fees for P Orders and P/A
Orders.\7\ Consistent with current practice, the Exchange will charge
the clearing member organization of the sender of P Orders and P/A
Orders. Also, consistent with current practice, the Exchange will not
charge for the execution of Satisfaction Orders sent through Linkage.
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release Nos. 54204 (July 25,
2006), 71 FR 43548 (August 1, 2006) (SR-ISE-2006-38); 54225 (July
27, 2006), 71 FR 44056 (August 3, 2006) (SR-BSE-2006-26); 54272
(August 3, 2006), 71 FR 45865 (August 10, 2006) (SR-CBOE-2006-59);
54230 (July 27, 2006), 71 FR 44757 (August 7, 2006) (SR-NYSEArca-
2006-41).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with section
6(b) of the Act \8\ in general, and furthers the objectives of section
6(b)(4) of the Act \9\ in particular, in that it is an equitable
allocation of reasonable fees among Exchange members.\10\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4).
\10\ The Exchange clarified that Section 6(b)(4) of the Act
requires equitable allocation of reasonable fees among Exchange
members and issuers and other persons using its facilities. See
Telephone conversation between Richard Rudolph, Vice President and
Counsel, Phlx to Ronesha A. Butler, Special Counsel, Division of
Market Regulation, Commission, dated July 27, 2007.
---------------------------------------------------------------------------
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
No written comments were either solicited or received.
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-Phlx-2007-52 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-Phlx-2007-52. 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-Phlx-2007-52 and should be
submitted on or before August 24, 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,\11\ and, in particular, the requirements of section 6(b) of
the Act \12\ and the rules and regulations thereunder. The
[[Page 43314]]
Commission finds that the proposed rule change is consistent with
section 6(b)(4) of the Act,\13\ 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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\11\ 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).
\12\ 15 U.S.C. 78f(b).
\13\ 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 section 19(b)(2) of the
Exchange Act,\14\ to approve the proposed rule change on an accelerated
basis.
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\14\ 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,\15\ that the proposed rule change (SR-Phlx-2007-52), be and it
hereby is, approved on an accelerated basis.
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\15\ 15 U.S.C. 78s(b)(2).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\16\
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\16\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary. 6
[FR Doc. E7-15094 Filed 8-2-07; 8:45 am]
BILLING CODE 8010-01-P
