Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to an Increase in the Maximum Number of Quoters Permitted in an Option, 47112-47113 [E7-16525]
Download as PDF
<![CDATA[
47112
Federal Register / Vol. 72, No. 162 / Wednesday, August 22, 2007 / Notices
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 will also be
available for inspection and copying at
the principal office of NYSE Arca. 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 No.
SR–NYSEArca–2007–84 and should be
submitted on or before September 12,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.15
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–16528 Filed 8–21–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56261; File No. SR–Phlx–
2007–51]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to an Increase in the
Maximum Number of Quoters
Permitted in an Option
August 15, 2007.
jlentini on PROD1PC65 with NOTICES
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 August
13, 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, II, and III, below, which Items
have been prepared by the Phlx. The
Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change
pursuant to section 19(b)(3)(A) of the
Act,3 and Rule 19b–4(f)(6) thereunder,4
15 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A).
4 17 CFR 240.19b–4(f)(6).
1 15
VerDate Aug<31>2005
16:26 Aug 21, 2007
Jkt 211001
which renders the proposal effective
upon filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Phlx proposes to amend
Commentary .02 of Rule 507,
Application for Approval as an SQT 5 or
RSQT 6 and Assignment in Options, to
increase the maximum number of
participants that may be assigned in a
particular equity option at any one time.
The Exchange also proposes a
technical amendment to Rule 507,
Commentary .01, to re-insert language
concerning assignment in options by
‘‘root symbol’’ that was inadvertently
deleted in the original proposal relating
to the Maximum Number of Quoters
(‘‘MNQ’’) in Equity Options, as
described more fully below. The text of
the proposed rule change is available at
http://www.phlx.com, at the Phlx, and
at the Commission’s Public Reference
Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Phlx included statements concerning
the purpose of and basis for the
proposed rule change and discussed any
comments it received on the proposed
rule change. The text of these statements
may be examined at the places specified
in Item IV below. The 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 permit additional
participants to quote electronically in
5 An SQT is an Exchange Registered Options
Trader (‘‘ROT’’) who has received permission from
the Exchange to generate and submit options
quotations electronically through AUTOM in
eligible options to which such SQT is assigned. An
SQT may only submit such quotations while such
SQT is physically present on the floor of the
Exchange. See Exchange Rule 1014(b)(ii)(A).
6 An RSQT is a ROT that is a member or member
organization with no physical trading floor
presence who has received permission from the
Exchange to generate and submit option quotations
electronically through AUTOM in eligible options
to which such RSQT has been assigned. An RSQT
may only submit such quotations electronically
from off the floor of the Exchange. See Exchange
Rule 1014(b)(ii)(B).
PO 00000
Frm 00161
Fmt 4703
Sfmt 4703
equity options listed for trading on the
Exchange by increasing the MNQ in
equity options trading on the Exchange.
In January 2007, as one part of a larger
overall program established to mitigate
electronic option quote traffic on the
Exchange, the Exchange adopted
Commentary .02 to Rule 507, Maximum
Number of Quoters in Equity Options.7
This rule limits the number of
participants that may be assigned to a
particular equity option at any one time
based upon each option’s monthly
national volume.
Commentary .02 to Rule 507 currently
sets forth tiered MNQ levels providing
for 20 participants for the top 5% most
actively traded options; 15 participants
for next 10% most actively traded
options, and 10 market participants for
all other options. The ranking is based
upon the preceding month’s national
volumes.
The proposal would increase the
MNQ levels by two (2) participants in
each tier. Specifically, the new MNQ
levels would provide for increases from
20 to 22 participants per option for the
top 5% most actively traded options;
from 15 to 17 participants per option for
the next 10% most actively traded
options, and from 10 to 12 participants
per option for all other options.
Currently, the Exchange’s Options
Allocation, Evaluation and Securities
Committee (‘‘OAESC’’) 8 may increase
the MNQ when exceptional
circumstances warrant. Proposed
Commentary .04 to Rule 507 describes
the events that may be considered
‘‘exceptional,’’ including substantial
trading volume (whether actual or
expected), a major news event or
corporate event. The Exchange may
reduce the MNQ following the cessation
of the exceptional circumstances, but
the Exchange must follow the
procedures for decreases to the MNQ
outlined in Commentary .03 of the rule.
When relying on this provision, as in
the instant proposal, the Exchange must
submit a rule filing to the Commission
pursuant to section 19(b)(3)(A) of the
Act.
Initially, the Exchange set the MNQ at
a very conservative level to ensure there
was ample capacity to support multiple
participants quoting the same equity
option. Since that time, the Exchange
7 See Securities Exchange Act Release No. 55114
(January 17, 2007), 72 FR 3185 (January 24, 2007)
(SR–Phlx–2006–81).
8 The OAESC has jurisdiction over, among other
things: The appointment of specialists on the
options and foreign currency options trading floors;
allocation, retention and transfer of privileges to
deal in options on the trading floors; and
administration of the 500 series of Phlx rules. See
Phlx By-Law Article X, Section 10–7.
E:\FR\FM\22AUN1.SGM
22AUN1
Federal Register / Vol. 72, No. 162 / Wednesday, August 22, 2007 / Notices
has experienced an increase in volume,
particularly in options included in the
top two MNQ levels. The Exchange
believes that adding two additional
positions to the top tier (i.e., options
that represent the top 5% in national
volume) should attract quality liquidity
providers and should enable the
Exchange to be flexible in assigning top
tier options to such liquidity providers.
The Exchange also believes that adding
two new positions to the second and
third tier should add to the Exchange’s
liquidity by providing opportunities for
additional ROTs to trade in such
issues.9
After careful analysis, the Exchange
believes it has the capacity to increase
the MNQ as proposed. The Exchange
believes that the effect of an increase in
the MNQ fosters competition in that it
increases the number of market
participants that may quote
electronically in a product. The
Exchange will inform market
participants of changes to the MNQ via
Exchange circular.
Assignment by ‘‘Root Symbol’’
In late December, 2006, the
Commission approved the Exchange’s
proposal to adopt Commentary .01 to
Rule 507 to permit the Exchange to
assign trading privileges to SQTs and
RSQTs, upon their request, only in
specific series of a particular option
based on the ‘‘root symbol’’ of the series,
instead of assigning trading privileges in
all series of such option.10 Thereafter,
the Exchange filed its MNQ proposal,
reserving the numerical position for
Commentary .01 and adding the MNQ
language in the subsequent
Commentaries. Because the MNQ
proposal was approved after the ‘‘root
symbol’’ proposal, the effect of marking
commentary .01 ‘‘RESERVED’’ was to
delete the ‘‘root symbol’’ language. The
Exchange proposes herein to correct this
inadvertent deletion by re-inserting the
‘‘root symbol’’ language into
Commentary .01.
jlentini on PROD1PC65 with NOTICES
2. Statutory Basis
The Exchange believes that its
proposal is consistent with section 6(b)
of the Act 11 in general, and furthers the
objectives of section 6(b)(5) of the Act 12
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
9 The Exchange notes that there is substantial
interest among ROTs in trading such issues.
10 See Securities Exchange Act Release No. 55027
(December 29, 2006), 72 FR 1358 (January 11, 2007)
(SR–Phlx–2006–53).
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).
VerDate Aug<31>2005
16:26 Aug 21, 2007
Jkt 211001
open market and a national market
system, and, in general to protect
investors and the public interest, by
permitting more participants to quote
electronically on the Exchange, fostering
competition, and adding liquidity to the
Exchange’s markets, which should
benefit customers.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
47113
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–Phlx–2007–51 on the
subject line.
Paper Comments
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.
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
All submissions should refer to File
Number SR–Phlx–2007–51. 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 the filing also will be available
for inspection and copying at the
principal office of the Phlx. 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–2007–51 and should
be submitted on or before September 12,
2007.
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The proposed rule change is
designated by the Exchange as a ‘‘noncontroversial’’ rule pursuant to section
19(b)(3)(A) 13 of the Act and
subparagraph (f)(6) of Rule 19b–4
thereunder,14 because the proposed rule
change: (1) Does not significantly affect
the protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) does not become operative for 30
days from the date on which it was
filed, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, provided that the
Exchange has given the Commission
written notice of its intent to file the
proposed rule change at least five
business days prior to the filing of the
proposed rule change.15 Consequently,
the proposed rule change has become
effective upon filing.
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:
13 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
15 As required under Rule 19b–4(f)(6)(iii), the
Exchange has provided the Commission with
written notice of its intent to file the proposed rule
change at least five business days prior to the filing
date of this proposal.
14 17
PO 00000
Frm 00162
Fmt 4703
Sfmt 4703
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.16
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–16525 Filed 8–21–07; 8:45 am]
BILLING CODE 8010–01–P
16 17
E:\FR\FM\22AUN1.SGM
CFR 200.30–3(a)(12).
22AUN1
]]>Agencies
[Federal Register Volume 72, Number 162 (Wednesday, August 22, 2007)]
[Notices]
[Pages 47112-47113]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-16525]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56261; File No. SR-Phlx-2007-51]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Relating to an Increase in the Maximum Number of Quoters Permitted in
an Option
August 15, 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 August 13, 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, II,
and III, below, which Items have been prepared by the Phlx. The
Exchange filed the proposal as a ``non-controversial'' proposed rule
change pursuant to section 19(b)(3)(A) of the Act,\3\ and Rule 19b-
4(f)(6) thereunder,\4\ which renders the proposal effective upon filing
with the Commission. The Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ 15 U.S.C. 78s(b)(3)(A).
\4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Phlx proposes to amend Commentary .02 of Rule 507, Application
for Approval as an SQT \5\ or RSQT \6\ and Assignment in Options, to
increase the maximum number of participants that may be assigned in a
particular equity option at any one time.
---------------------------------------------------------------------------
\5\ An SQT is an Exchange Registered Options Trader (``ROT'')
who has received permission from the Exchange to generate and submit
options quotations electronically through AUTOM in eligible options
to which such SQT is assigned. An SQT may only submit such
quotations while such SQT is physically present on the floor of the
Exchange. See Exchange Rule 1014(b)(ii)(A).
\6\ An RSQT is a ROT that is a member or member organization
with no physical trading floor presence who has received permission
from the Exchange to generate and submit option quotations
electronically through AUTOM in eligible options to which such RSQT
has been assigned. An RSQT may only submit such quotations
electronically from off the floor of the Exchange. See Exchange Rule
1014(b)(ii)(B).
---------------------------------------------------------------------------
The Exchange also proposes a technical amendment to Rule 507,
Commentary .01, to re-insert language concerning assignment in options
by ``root symbol'' that was inadvertently deleted in the original
proposal relating to the Maximum Number of Quoters (``MNQ'') in Equity
Options, as described more fully below. The text of the proposed rule
change is available at http://www.phlx.com, at the Phlx, and at the
Commission's Public Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Phlx included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The 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 permit additional
participants to quote electronically in equity options listed for
trading on the Exchange by increasing the MNQ in equity options trading
on the Exchange.
In January 2007, as one part of a larger overall program
established to mitigate electronic option quote traffic on the
Exchange, the Exchange adopted Commentary .02 to Rule 507, Maximum
Number of Quoters in Equity Options.\7\ This rule limits the number of
participants that may be assigned to a particular equity option at any
one time based upon each option's monthly national volume.
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 55114 (January 17,
2007), 72 FR 3185 (January 24, 2007) (SR-Phlx-2006-81).
---------------------------------------------------------------------------
Commentary .02 to Rule 507 currently sets forth tiered MNQ levels
providing for 20 participants for the top 5% most actively traded
options; 15 participants for next 10% most actively traded options, and
10 market participants for all other options. The ranking is based upon
the preceding month's national volumes.
The proposal would increase the MNQ levels by two (2) participants
in each tier. Specifically, the new MNQ levels would provide for
increases from 20 to 22 participants per option for the top 5% most
actively traded options; from 15 to 17 participants per option for the
next 10% most actively traded options, and from 10 to 12 participants
per option for all other options.
Currently, the Exchange's Options Allocation, Evaluation and
Securities Committee (``OAESC'') \8\ may increase the MNQ when
exceptional circumstances warrant. Proposed Commentary .04 to Rule 507
describes the events that may be considered ``exceptional,'' including
substantial trading volume (whether actual or expected), a major news
event or corporate event. The Exchange may reduce the MNQ following the
cessation of the exceptional circumstances, but the Exchange must
follow the procedures for decreases to the MNQ outlined in Commentary
.03 of the rule. When relying on this provision, as in the instant
proposal, the Exchange must submit a rule filing to the Commission
pursuant to section 19(b)(3)(A) of the Act.
---------------------------------------------------------------------------
\8\ The OAESC has jurisdiction over, among other things: The
appointment of specialists on the options and foreign currency
options trading floors; allocation, retention and transfer of
privileges to deal in options on the trading floors; and
administration of the 500 series of Phlx rules. See Phlx By-Law
Article X, Section 10-7.
---------------------------------------------------------------------------
Initially, the Exchange set the MNQ at a very conservative level to
ensure there was ample capacity to support multiple participants
quoting the same equity option. Since that time, the Exchange
[[Page 47113]]
has experienced an increase in volume, particularly in options included
in the top two MNQ levels. The Exchange believes that adding two
additional positions to the top tier (i.e., options that represent the
top 5% in national volume) should attract quality liquidity providers
and should enable the Exchange to be flexible in assigning top tier
options to such liquidity providers. The Exchange also believes that
adding two new positions to the second and third tier should add to the
Exchange's liquidity by providing opportunities for additional ROTs to
trade in such issues.\9\
---------------------------------------------------------------------------
\9\ The Exchange notes that there is substantial interest among
ROTs in trading such issues.
---------------------------------------------------------------------------
After careful analysis, the Exchange believes it has the capacity
to increase the MNQ as proposed. The Exchange believes that the effect
of an increase in the MNQ fosters competition in that it increases the
number of market participants that may quote electronically in a
product. The Exchange will inform market participants of changes to the
MNQ via Exchange circular.
Assignment by ``Root Symbol''
In late December, 2006, the Commission approved the Exchange's
proposal to adopt Commentary .01 to Rule 507 to permit the Exchange to
assign trading privileges to SQTs and RSQTs, upon their request, only
in specific series of a particular option based on the ``root symbol''
of the series, instead of assigning trading privileges in all series of
such option.\10\ Thereafter, the Exchange filed its MNQ proposal,
reserving the numerical position for Commentary .01 and adding the MNQ
language in the subsequent Commentaries. Because the MNQ proposal was
approved after the ``root symbol'' proposal, the effect of marking
commentary .01 ``RESERVED'' was to delete the ``root symbol'' language.
The Exchange proposes herein to correct this inadvertent deletion by
re-inserting the ``root symbol'' language into Commentary .01.
---------------------------------------------------------------------------
\10\ See Securities Exchange Act Release No. 55027 (December 29,
2006), 72 FR 1358 (January 11, 2007) (SR-Phlx-2006-53).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that its proposal is consistent with section
6(b) of the Act \11\ in general, and furthers the objectives of section
6(b)(5) of the Act \12\ 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, by permitting more participants to quote electronically on
the Exchange, fostering competition, and adding liquidity to the
Exchange's markets, which should benefit customers.
---------------------------------------------------------------------------
\11\ 15 U.S.C. 78f(b).
\12\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
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. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The proposed rule change is designated by the Exchange as a ``non-
controversial'' rule pursuant to section 19(b)(3)(A) \13\ of the Act
and subparagraph (f)(6) of Rule 19b-4 thereunder,\14\ because the
proposed rule change: (1) Does not significantly affect the protection
of investors or the public interest; (2) does not impose any
significant burden on competition; and (3) does not become operative
for 30 days from the date on which it was filed, or such shorter time
as the Commission may designate if consistent with the protection of
investors and the public interest, provided that the Exchange has given
the Commission written notice of its intent to file the proposed rule
change at least five business days prior to the filing of the proposed
rule change.\15\ Consequently, the proposed rule change has become
effective upon filing.
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78s(b)(3)(A).
\14\ 17 CFR 240.19b-4(f)(6).
\15\ As required under Rule 19b-4(f)(6)(iii), the Exchange has
provided the Commission with written notice of its intent to file
the proposed rule change at least five business days prior to the
filing date of this proposal.
---------------------------------------------------------------------------
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 rule-comments@sec.gov. Please include
File Number SR-Phlx-2007-51 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-2007-51. 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 the filing also will be available for
inspection and copying at the principal office of the Phlx. 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-2007-51 and should be
submitted on or before September 12, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\16\
---------------------------------------------------------------------------
\16\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-16525 Filed 8-21-07; 8:45 am]
BILLING CODE 8010-01-P
