Self-Regulatory Organizations; OneChicago, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating To Block Trade and EFP Transaction Reporting Procedures, 44603-44605 [E7-15384]
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Federal Register / Vol. 72, No. 152 / Wednesday, August 8, 2007 / Notices
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 self-regulatory
organization 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
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:
sroberts on PROD1PC70 with NOTICES
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–NYSE–2007–42 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–NYSE–2007–42. 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
VerDate Aug<31>2005
19:14 Aug 07, 2007
Jkt 211001
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–NYSE–2007–42 and should
be submitted on or before August 29,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–15432 Filed 8–7–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56178; File No. SR–OC–
2007–03]
Self-Regulatory Organizations;
OneChicago, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating To Block Trade
and EFP Transaction Reporting
Procedures
August 1, 2007.
Pursuant to section 19(b)(7) of the
Securities Exchange Act of 1934
(‘‘Act’’) 1 and Rule 19b–7 thereunder,2
notice is hereby given that on July 20,
2007, OneChicago, LLC (‘‘OneChicago’’
or ‘‘Exchange’’) filed with the Securities
and Exchange Commission (‘‘SEC’’ or
‘‘Commission’’) the proposed rule
change described in Items I, II and III
below, which Items have been
substantially prepared by the Exchange.
The Commission is publishing this
notice to solicit comments on the
proposed rule change from interested
persons. The Exchange has also filed the
proposed rule change with the
Commodity Futures Trading
Commission (‘‘CFTC’’), together with a
written certification under Section 5c(c)
of the Commodity Exchange Act
(‘‘CEA’’),3 on July 19, 2007.
I. Self-Regulatory Organization’s
Description of the Proposed Rule
Change
OneChicago is proposing to amend its
policies and procedures relating to the
reporting of block trades and Exchange
of Futures for Physical (‘‘EFP’’)
transactions. The text of the proposed
rule change is available on
OneChicago’s Web site (https://
onechicago.com), at OneChicago’s
principal office, and at the
Commission’s Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
The Exchange has prepared
statements concerning the purpose of,
and basis for, the proposed rule change,
burdens on competition, and comments
received from its members, participants,
and others. The text of these statements
may be examined at the places specified
in Item IV below. The Exchange has
prepared summaries, set forth in
sections A, B, and C below, of the most
significant aspects of such statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, Proposed Rule
Change
1. Purpose
OneChicago proposes to amend its
Block Trade Reporting Procedures
(‘‘Block Reporting Procedures’’) and its
EFP Transactions: Guidelines and
Reporting Procedures (‘‘EFP Reporting
Procedures’’) to permit reporting of
block trades and EFP transactions
through the OneChicago Block & EFP
Trading System (‘‘OneChicago BETS’’).
In addition, OneChicago proposes to
make conforming changes to
OneChicago Policies: Block Trades, PreExecution Discussions and Cross Trades
(‘‘Block Trade Policy’’).
OneChicago BETS permits authorized
traders to trade and report block trades,
as well as match and report EFP
transactions electronically.4 The
proposed rule change would add
language to the Block Reporting
Procedures that would permit those
37
U.S.C. 7a–2(c).
BETS also permits electronic
trading and reporting of Block Roll trades, a block
trade where a trader enters into a calendar spread.
9 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(7).
2 17 CFR 240.19b–7.
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44603
4 OneChicago
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08AUN1
sroberts on PROD1PC70 with NOTICES
44604
Federal Register / Vol. 72, No. 152 / Wednesday, August 8, 2007 / Notices
authorized to report block trades to do
so through OneChicago BETS,
telephonically as permitted by the
Exchange, or in a form and method
approved by OneChicago. In addition,
the proposed rule change would amend
the provision of the Block Reporting
Procedures that requires the selling firm
to call the OneChicago Operations
Management (‘‘OOM’’) Help Desk for
block trades reported telephonically by
allowing the counterparty to agree to a
different reporting arrangement. A
similar change to the Block Reporting
Procedures is proposed for the reporting
of blocks that are spreads or
combinations. The proposed rule
change would also amend the footnote
to the Block Reporting Procedures to
delete ‘‘500,’’ currently the stated
minimum contract size, and add a crossreference to the minimum contract size
specified in the Block Trade Policy.
Under the proposed rule change, the
total quantity of the legs of a spread or
combination must continue to meet the
minimum contract size requirement as
stated in the Block Trade Policy.
The amendments to the EFP
Reporting Procedures would add
language to make it clear that entering
into an EFP via OneChicago BETS
would fulfill the requirement to
complete an EFP Transaction Report in
a form and manner approved by the
Exchange. Under the proposed rule
change, if a transaction is matched by
OneChicago BETS, then the party that
traded against the resting bid or offer
(the ‘‘Aggressor’’) would be obligated to
enter the base price into OneChicago
BETS from which a futures price would
be generated by adding the matched
differential.5 If the transaction is an EFP
that is only reported on OneChicago
BETS (i.e., a Bi-lateral transaction), then
either party to the transaction may enter
the information into OneChicago BETS,
and the counter-party trader must
confirm the transaction on OneChicago
BETS.
The proposed rule change would also
eliminate the requirement in the EFP
Reporting Procedures that the parties to
the transaction exchange their
respective Trade Reporter IDs and agree
upon a unique trade ID to be used when
recording the terms of their trade. Since
the Exchange has the Trade Reporter IDs
and provides a unique trade ID for each
trade, it is no longer necessary to have
the Trade Reporters exchange and create
such IDs. Conforming language was also
added to clarify that the OOM Help
Desk will only compare the details on
5 EFPs on BETS are quoted in spreads. The
futures price is calculated by adding the quoted
spread to the base price negotiated by the parties.
VerDate Aug<31>2005
19:14 Aug 07, 2007
Jkt 211001
trades that are not reported through
OneChicago BETS.
Conforming changes are also
proposed for the Block Trade Policy.
Thus, under the proposal, the buyer of
a block trade could agree that the seller
is not obligated to report a block trade;
language requiring the OOM Help Desk
to provide a trade identification and
requiring traders to provide the OOM
Help Desk trade identification when
reporting a block trade would be
deleted; and new language would be
added to make clear that OOM Help
Desk would only report block trades
reported to them telephonically to the
OneChicago trade engine.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
section 6(b) of the Act,6 in general and
section 6(b)(5) of the Act,7 in particular,
in that it is designed to prevent
fraudulent and manipulative acts and
practices, to promote just and equitable
principles of trade, and, in general, to
protect investors and the public interest.
The proposed rule change would permit
electronic reporting of block trades and
EFP transactions, which would promote
just and equitable principles of trade
and protect investors and the public
interest by providing more efficient
reporting of block trades and EFPs and
by providing a strong audit trail.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
OneChicago does not believe that the
proposed rule change will impose any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
No written comments were solicited
or received with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Pursuant to section 19(b)(7)(B) of the
Act,8 the proposed rule change became
effective on July 20, 2007. Within 60
days of the date of effectiveness of the
proposed rule change, the Commission,
after consultation with the CFTC, may
summarily abrogate the proposed rule
change and require that the proposed
rule change be re-filed in accordance
6 15
U.S.C. 78f(b).
U.S.C. 78f(b)(5).
8 15 U.S.C. 78s(b)(7)(B).
with the provisions of section 19(b)(1) of
the Act.9
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
No. SR–OC–2007–03 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–OC–2007–03. 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 Commissions
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–OC–2007–03 and should be
submitted on or before August 29, 2007.
7 15
PO 00000
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Fmt 4703
9 15
Sfmt 4703
E:\FR\FM\08AUN1.SGM
U.S.C. 78s(b)(1).
08AUN1
Federal Register / Vol. 72, No. 152 / Wednesday, August 8, 2007 / Notices
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.10
Florence E. Harmon.
Deputy Secretary.
[FR Doc. E7–15384 Filed 8–7–07; 8:45 am]
BILLING CODE 8010–01–P
SMALL BUSINESS ADMINISTRATION
Public Federal Regulatory
Enforcement Fairness Hearing; Small
Business Administration Region X
Regulatory Fairness Board
The U.S. Small Business
Administration (SBA) Region X
Regulatory Fairness Board and the SBA
Office of the National Ombudsman will
hold a National Regulatory Fairness
Hearing on Thursday, August 23, 2007,
at 2:30 p.m. The forum will take place
at the Boise Metro Chamber of
Commerce, 250 S. 5th Street, Basement
Conference Center, Boise, ID 83701. The
purpose of the meeting is for Business
Organizations, Trade Associations,
Chambers of Commerce and related
organizations serving small business
concerns to report experiences regarding
unfair or excessive Federal regulatory
enforcement issues affecting their
members.
Anyone wishing to attend or to make
a presentation must contact Tom
Bergdoll, in writing or by fax in order
to be placed on the agenda. Tom
Bergdoll, District Director, SBA, Idaho
District Office, 380 East Parkcenter
Boulevard, Suite 330, Boise, ID 83706,
phone (208) 334–9004, Ext. 325 and fax
(202) 481–5840, e-mail:
Thomas.bergdoll@sba.gov.
For more information, see our Web
site at https://www.sba.gov/ombudsman.
Matthew Teague,
Committee Management Officer.
[FR Doc. E7–15406 Filed 8–7–07; 8:45 am]
BILLING CODE 8025–01–P
SMALL BUSINESS ADMINISTRATION
sroberts on PROD1PC70 with NOTICES
Public Federal Regulatory
Enforcement Fairness Hearing; Region
VIII Regulatory Fairness Board
The U.S. Small Business
Administration (SBA) Region VIII
Regulatory Fairness Board and the SBA
Office of the National Ombudsman will
hold a National Regulatory Fairness
Hearing on Tuesday, August 21, 2007, at
9:30 a.m. The forum will take place at
the Montana State University Billings,
College of Professional Studies and
10 17
CFR 200.30–3(a)(73).
VerDate Aug<31>2005
19:14 Aug 07, 2007
Jkt 211001
Lifelong Learning, 2804 3rd Avenue
North, Billings, MT 59101. The purpose
of the meeting is for Business
Organizations, Trade Associations,
Chambers of Commerce and related
organizations serving small business
concerns to report experiences regarding
unfair or excessive Federal regulatory
enforcement issues affecting their
members.
Anyone wishing to attend or to make
a presentation must contact Rena
Carlson, in writing or by fax in order to
be placed on the agenda. Rena Carlson,
Business Development Specialist, SBA,
Montana District Office, 10 West 15th
Street, Suite 1100, Helena, MT 59626,
phone (406) 441–1086 and fax (202)
481–4195, e-mail:
Lorena.carlson@sba.gov.
For more information, see our Web
site at https://www.sba.gov/ombudsman.
Matthew Teague,
Committee Management Officer.
[FR Doc. E7–15408 Filed 8–7–07; 8:45 am]
BILLING CODE 8025–01–P
DEPARTMENT OF TRANSPORTATION
Office of the Secretary
[Docket No. OST–07–28901]
Notice of Request for Renewal of a
Previously Approved Collection
Office of the Secretary, DOT.
Notice.
AGENCY:
ACTION:
SUMMARY: In accordance with the
Paperwork Reduction Act of 1995, this
notice announces the U.S. Department
of Transportation’s (DOT) intention to
request extension of a previously
approved information collection.
DATES: Comments on this notice must be
received by October 9, 2007.
ADDRESSES: You may submit comments
(identified by DOT DMS Docket Number
OST–07–28901) by any of the following
methods:
• Web Site: https://dms.dot.gov.
Follow the instructions for submitting
comments on the DOT electronic docket
site.
• Fax 1–202–493–2251.
• Mail: Docket Management Facility;
U.S. Department of Transportation, 1200
New Jersey Avenue, SE., Washington,
DC 20590–0001.
• Hand Delivery: West Building,
Ground Floor, Rm. W–12–140, 1200
New Jersey Ave., SE., Washington, DC
20590–0001, between 9 a.m. and 5 p.m.,
Monday through Friday, except on
Federal holidays.
• Federal eRulemaking Portal: Go to
https://www.regulations.gov. Follow the
PO 00000
Frm 00123
Fmt 4703
Sfmt 4703
44605
online instructions for submitting
comments.
Instructions: All submissions must
include the agency name and docket
number for this notice. For detailed
instructions on submitting comments
and additional information on the
rulemaking process, see the Public
Participation heading of the
SUPPLEMENTARY INFORMATION section of
this document. Note that all comments
received will be posted without change
to https://dms.dot.gov including any
personal information provided. Please
see the Privacy Act heading under
Regulatory Notes.
• Docket: For access to the docket to
read background documents or
comments received, go to https://
dms.dot.gov at any time or to the West
Building, Ground Floor, Rm. W–12–140,
1200 New Jersey Ave., SE., Washington,
DC 20590–0001, between 9 a.m. and 5
p.m., Monday through Friday, except on
Federal holidays.
FOR FURTHER INFORMATION CONTACT:
Ellen Shields, Business Policy Division,
M–61, Office of the Senior Procurement
Executive, Office of the Secretary, (202)
366–4268. Refer to OMB Control
Number 2105–0531.
SUPPLEMENTARY INFORMATION:
Title: Uniform Administrative
Requirements for Grants and
Cooperative Agreements With
Institutions of Higher Education,
Hospitals, and Other Nonprofit
Organizations.
OMB Control Number: 2105–0531.
Type of Request: Extension without
change, of a previously approved
collection.
Abstract: The requested extension of
the approved control number covers the
information and collection requirements
imposed by the Office of Management
and Budget (OMB) Circular A–110,
Uniform Administrative Requirements
for Grants and Agreements with
Institutions of Higher Education,
Hospitals, and Other Non-Profit
Organizations, which the Department of
Transportation codified at 49 CFR part
19. The information collected, retained
and provided by the nonprofit grantees
is required to ensure grantee eligibility
and their conformance with Federally
mandated reporting requirements. OMB
provides management and oversight of
the circular. OMB also provides for a
standard figure of seventy burden hours
per grantee annually for completion of
required forms. This collection covers
only those DOT programs that utilize
the standard OMB forms SF 269, SF
270, SF 271, SF 272 and SF 424.
Respondents: Individuals or
households and business or others for
profit organizations.
E:\FR\FM\08AUN1.SGM
08AUN1
Agencies
[Federal Register Volume 72, Number 152 (Wednesday, August 8, 2007)]
[Notices]
[Pages 44603-44605]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-15384]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56178; File No. SR-OC-2007-03]
Self-Regulatory Organizations; OneChicago, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change Relating To Block
Trade and EFP Transaction Reporting Procedures
August 1, 2007.
Pursuant to section 19(b)(7) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-7 thereunder,\2\ notice is hereby given that
on July 20, 2007, OneChicago, LLC (``OneChicago'' or ``Exchange'')
filed with the Securities and Exchange Commission (``SEC'' or
``Commission'') the proposed rule change described in Items I, II and
III below, which Items have been substantially prepared by the
Exchange. The Commission is publishing this notice to solicit comments
on the proposed rule change from interested persons. The Exchange has
also filed the proposed rule change with the Commodity Futures Trading
Commission (``CFTC''), together with a written certification under
Section 5c(c) of the Commodity Exchange Act (``CEA''),\3\ on July 19,
2007.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(7).
\2\ 17 CFR 240.19b-7.
\3\ 7 U.S.C. 7a-2(c).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Description of the Proposed Rule
Change
OneChicago is proposing to amend its policies and procedures
relating to the reporting of block trades and Exchange of Futures for
Physical (``EFP'') transactions. The text of the proposed rule change
is available on OneChicago's Web site (https://onechicago.com), at
OneChicago's principal office, and at the Commission's Public Reference
Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
The Exchange has prepared statements concerning the purpose of, and
basis for, the proposed rule change, burdens on competition, and
comments received from its members, participants, and others. The text
of these statements may be examined at the places specified in Item IV
below. The Exchange has prepared summaries, set forth in sections A, B,
and C below, of the most significant aspects of such statements.
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, Proposed Rule Change
1. Purpose
OneChicago proposes to amend its Block Trade Reporting Procedures
(``Block Reporting Procedures'') and its EFP Transactions: Guidelines
and Reporting Procedures (``EFP Reporting Procedures'') to permit
reporting of block trades and EFP transactions through the OneChicago
Block & EFP Trading System (``OneChicago BETS''). In addition,
OneChicago proposes to make conforming changes to OneChicago Policies:
Block Trades, Pre-Execution Discussions and Cross Trades (``Block Trade
Policy'').
OneChicago BETS permits authorized traders to trade and report
block trades, as well as match and report EFP transactions
electronically.\4\ The proposed rule change would add language to the
Block Reporting Procedures that would permit those
[[Page 44604]]
authorized to report block trades to do so through OneChicago BETS,
telephonically as permitted by the Exchange, or in a form and method
approved by OneChicago. In addition, the proposed rule change would
amend the provision of the Block Reporting Procedures that requires the
selling firm to call the OneChicago Operations Management (``OOM'')
Help Desk for block trades reported telephonically by allowing the
counterparty to agree to a different reporting arrangement. A similar
change to the Block Reporting Procedures is proposed for the reporting
of blocks that are spreads or combinations. The proposed rule change
would also amend the footnote to the Block Reporting Procedures to
delete ``500,'' currently the stated minimum contract size, and add a
cross-reference to the minimum contract size specified in the Block
Trade Policy. Under the proposed rule change, the total quantity of the
legs of a spread or combination must continue to meet the minimum
contract size requirement as stated in the Block Trade Policy.
---------------------------------------------------------------------------
\4\ OneChicago BETS also permits electronic trading and
reporting of Block Roll trades, a block trade where a trader enters
into a calendar spread.
---------------------------------------------------------------------------
The amendments to the EFP Reporting Procedures would add language
to make it clear that entering into an EFP via OneChicago BETS would
fulfill the requirement to complete an EFP Transaction Report in a form
and manner approved by the Exchange. Under the proposed rule change, if
a transaction is matched by OneChicago BETS, then the party that traded
against the resting bid or offer (the ``Aggressor'') would be obligated
to enter the base price into OneChicago BETS from which a futures price
would be generated by adding the matched differential.\5\ If the
transaction is an EFP that is only reported on OneChicago BETS (i.e., a
Bi-lateral transaction), then either party to the transaction may enter
the information into OneChicago BETS, and the counter-party trader must
confirm the transaction on OneChicago BETS.
---------------------------------------------------------------------------
\5\ EFPs on BETS are quoted in spreads. The futures price is
calculated by adding the quoted spread to the base price negotiated
by the parties.
---------------------------------------------------------------------------
The proposed rule change would also eliminate the requirement in
the EFP Reporting Procedures that the parties to the transaction
exchange their respective Trade Reporter IDs and agree upon a unique
trade ID to be used when recording the terms of their trade. Since the
Exchange has the Trade Reporter IDs and provides a unique trade ID for
each trade, it is no longer necessary to have the Trade Reporters
exchange and create such IDs. Conforming language was also added to
clarify that the OOM Help Desk will only compare the details on trades
that are not reported through OneChicago BETS.
Conforming changes are also proposed for the Block Trade Policy.
Thus, under the proposal, the buyer of a block trade could agree that
the seller is not obligated to report a block trade; language requiring
the OOM Help Desk to provide a trade identification and requiring
traders to provide the OOM Help Desk trade identification when
reporting a block trade would be deleted; and new language would be
added to make clear that OOM Help Desk would only report block trades
reported to them telephonically to the OneChicago trade engine.
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with section 6(b) of the Act,\6\ in general and section 6(b)(5) of the
Act,\7\ in particular, in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, and, in general, to protect investors and the
public interest. The proposed rule change would permit electronic
reporting of block trades and EFP transactions, which would promote
just and equitable principles of trade and protect investors and the
public interest by providing more efficient reporting of block trades
and EFPs and by providing a strong audit trail.
---------------------------------------------------------------------------
\6\ 15 U.S.C. 78f(b).
\7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
OneChicago does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
No written comments were solicited or received with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Pursuant to section 19(b)(7)(B) of the Act,\8\ the proposed rule
change became effective on July 20, 2007. Within 60 days of the date of
effectiveness of the proposed rule change, the Commission, after
consultation with the CFTC, may summarily abrogate the proposed rule
change and require that the proposed rule change be re-filed in
accordance with the provisions of section 19(b)(1) of the Act.\9\
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(7)(B).
\9\ 15 U.S.C. 78s(b)(1).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File No. SR-OC-2007-03 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-OC-2007-03. 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 Commissions 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-OC-2007-03 and should be submitted on or
before August 29, 2007.
[[Page 44605]]
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)(73).
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Florence E. Harmon.
Deputy Secretary.
[FR Doc. E7-15384 Filed 8-7-07; 8:45 am]
BILLING CODE 8010-01-P