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 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]


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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