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]

Download as PDF 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). VerDate Aug<31>2005 18:17 Aug 02, 2007 Jkt 211001 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 (http://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 (http://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 03AUN1 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 http://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 (http://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 (http://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 
http://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 (http://
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 (http://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.
---------------------------------------------------------------------------

    \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).
---------------------------------------------------------------------------

    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.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

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.
---------------------------------------------------------------------------

    \15\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\16\
---------------------------------------------------------------------------

    \16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Nancy M. Morris,
Secretary. 6
 [FR Doc. E7-15094 Filed 8-2-07; 8:45 am]
BILLING CODE 8010-01-P