Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Establish the Fill-or-Kill Order Type, 50435-50436 [E7-17274]
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Federal Register / Vol. 72, No. 169 / Friday, August 31, 2007 / Notices
mechanism of a free and open market
and a national market system.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes the proposed
rule change will impose no 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 states that 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
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 NYSE Arca 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
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room, 100 F Street, NE., Washington,
DC 20549, on official business days
between the hours of 10 a.m. and 3 p.m.
Copies of the 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–NYSEArca–2007–75 and
should be submitted on or before
September 21, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.37
Nancy M. Morris,
Secretary.
[FR Doc. E7–17376 Filed 8–30–07; 8:45 am]
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:
BILLING CODE 8010–01–P
Electronic Comments
Self-Regulatory Organizations; NYSE
Arca, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Establish the Fill-orKill Order Type
• 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–NYSEArca–2007–75 on the
subject line.
sroberts on PROD1PC70 with NOTICES
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–NYSEArca–2007–75. 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
VerDate Aug<31>2005
00:43 Aug 31, 2007
Jkt 211001
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56323; File No. SR–
NYSEArca–2007–86]
August 27, 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
10, 2007, NYSE Arca, Inc. (‘‘NYSE
Arca’’ or ‘‘Exchange’’), through its
wholly owned subsidiary, NYSE Arca
Equities, Inc. (‘‘NYSE Arca Equities’’ or
‘‘Corporation’’) 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.
The Exchange filed the proposed rule
change pursuant to section 19(b)(3)(A)
of the Act 3 and Rule 19b–4(f)(6)
thereunder, which renders it effective
upon filing with the Commission.4 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 Exchange, through NYSE Arca
Equities, is proposing to amend its rules
in order to add a new order type known
as the Fill-or-Kill Order. The changes
described in this rule proposal would
add new NYSE Arca Equities Rule
7.31(ll). The text of the proposed rule
change is available at the Exchange, the
Commission’s Public Reference Room,
and https://www.nyse.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 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, the Proposed Rule
Change
1. Purpose
In order to provide additional
flexibility and increased functionality to
its system and its Users,5 the Exchange
proposes to add a new order type
known as the Fill-or-Kill order.
Fill-or-Kill orders are limit orders that
will be executed in full as soon as such
order is received. However, if execution
is not possible, the entire order will be
immediately cancelled. Of course, Fillor-Kill orders will not route out of NYSE
Arca to other market centers; they will
either be immediately executed, or
cancelled, in their entirety.
The Exchange believes that the
addition of the proposed order type will
3 15
37 17
CFR 200.30–3(a)(12).
1 15 U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
PO 00000
Frm 00114
Fmt 4703
Sfmt 4703
50435
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
5 See NYSE Arca Equities Rule 1.1(yy) for the
definition of ‘‘User.’’
4 17
E:\FR\FM\31AUN1.SGM
31AUN1
50436
Federal Register / Vol. 72, No. 169 / Friday, August 31, 2007 / Notices
enhance flexibility and order execution
opportunities for its Users.6
2. Statutory Basis
The proposed rule change is
consistent with section 6(b) of the Act,7
in general, and furthers the objectives of
section 6(b)(5) 8 in particular in that it is
designed to prevent fraudulent and
manipulative acts and practices, to
promote just and equitable principles of
trade, to foster cooperation and
coordination with persons engaged in
facilitating transactions in securities,
and to remove impediments to and
perfect the mechanisms of a free and
open market and a national market
system.
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.
sroberts on PROD1PC70 with NOTICES
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to section
19(b)(3)(A) 9 of the Act and Rule 19b–
4(f)(6) thereunder.10 At any time within
60 days of the filing of the 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.
NYSE Arca has asked the Commission
to waive the 30-day operative delay. The
Commission believes such a waiver is
consistent with the protection of
investors and the public interest
6 This proposed order type is substantially similar
to Rule 131(h) of the American Stock Exchange
LLC.
7 15 U.S.C. 78f(b).
8 15 U.S.C. 78f(b)(5).
9 15 U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(6).
VerDate Aug<31>2005
00:43 Aug 31, 2007
Jkt 211001
because it would permit the Exchange to
offer the Fill-or-Kill order type
functionality without delay.11 For this
reason, the Commission designates the
proposal to be operative upon filing
with the Commission.
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–NYSEArca–2007–86 and
should be submitted on or before
September 21, 2007.
IV. Solicitation of Comments
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Nancy M. Morris,
Secretary.
[FR Doc. E7–17274 Filed 8–30–07; 8:45 am]
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
DEPARTMENT OF STATE
• 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–NYSEArca–2007–86 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-NYSEArca-2007–86. This
file number should be included on the
subject line if e-mail is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for inspection and copying in
the Commission’s Public Reference
Room, 100 F. Street, NE., Washington,
DC 20549, on official business days
between the hours of 10 a.m. and 3 p.m.
Copies of such filing also will be
available for inspection and copying at
the principal office of NYSE Arca. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
11 For purposes only of waiving the 30-day preoperative period, the Commission has considered
the proposed rule’s impact on efficiency,
competition and capital formation. 15 U.S.C. 78c(f).
PO 00000
Frm 00115
Fmt 4703
BILLING CODE 8010–01–P
Sfmt 4703
Bureau of Economic, Energy, and
Business Affairs
[Public Notice 5920]
List of August 13, 2007, of
Participating Countries and Entities
(Hereinafter Known as ‘‘Participants’’)
Under the Clean Diamond Trade Act of
2003 (Public Law 108–19) and Section
2 of Executive Order 13312 of July 29,
2003
Department of State.
Notice.
AGENCY:
ACTION:
SUMMARY: In accordance with sections 3
and 6 of the Clean Diamond Trade Act
of 2003 (Public Law 108–19) and section
2 of Executive Order 13312 of July 29,
2003, the Department of State is
identifying all the Participants eligible
for trade in rough diamonds under the
Act, and their respective Importing and
Exporting Authorities, and revising the
previously published list of June 21,
2007 (Volume 72, Number 119, page
3426) to include Turkey.
FOR FURTHER INFORMATION CONTACT: Sue
Saarnio, Special Advisor for Conflict
Diamonds, Bureau of Economic, Energy,
and Business Affairs, Department of
State (202) 647–1713.
SUPPLEMENTARY INFORMATION: Section 4
of the Clean Diamond Trade Act (the
‘‘Act’’) requires the President to prohibit
the importation into, or the exportation
from, the United States of any rough
diamond, from whatever source, that
has not been controlled through the
Kimberley Process Certification Scheme
(KPCS). Under section 3(2) of the Act,
‘‘controlled through the Kimberley
Process Certification Scheme’’ means an
importation from the territory of a
Participant or exportation to the
territory of a Participant of rough
diamonds that is either (i) carried out in
accordance with the KPCS, as set forth
in regulations promulgated by the
12 12
E:\FR\FM\31AUN1.SGM
17 CFR 200.30–3(a)(12).
31AUN1
]]>Agencies
[Federal Register Volume 72, Number 169 (Friday, August 31, 2007)]
[Notices]
[Pages 50435-50436]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-17274]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56323; File No. SR-NYSEArca-2007-86]
Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Establish the
Fill-or-Kill Order Type
August 27, 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 10, 2007, NYSE Arca, Inc. (``NYSE Arca'' or ``Exchange''),
through its wholly owned subsidiary, NYSE Arca Equities, Inc. (``NYSE
Arca Equities'' or ``Corporation'') 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. The Exchange filed the proposed rule change
pursuant to section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6)
thereunder, which renders it effective upon filing with the
Commission.\4\ 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 Exchange, through NYSE Arca Equities, is proposing to amend its
rules in order to add a new order type known as the Fill-or-Kill Order.
The changes described in this rule proposal would add new NYSE Arca
Equities Rule 7.31(ll). The text of the proposed rule change is
available at the Exchange, the Commission's Public Reference Room, and
https://www.nyse.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
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, the Proposed Rule Change
1. Purpose
In order to provide additional flexibility and increased
functionality to its system and its Users,\5\ the Exchange proposes to
add a new order type known as the Fill-or-Kill order.
---------------------------------------------------------------------------
\5\ See NYSE Arca Equities Rule 1.1(yy) for the definition of
``User.''
---------------------------------------------------------------------------
Fill-or-Kill orders are limit orders that will be executed in full
as soon as such order is received. However, if execution is not
possible, the entire order will be immediately cancelled. Of course,
Fill-or-Kill orders will not route out of NYSE Arca to other market
centers; they will either be immediately executed, or cancelled, in
their entirety.
The Exchange believes that the addition of the proposed order type
will
[[Page 50436]]
enhance flexibility and order execution opportunities for its Users.\6\
---------------------------------------------------------------------------
\6\ This proposed order type is substantially similar to Rule
131(h) of the American Stock Exchange LLC.
---------------------------------------------------------------------------
2. Statutory Basis
The proposed rule change is consistent with section 6(b) of the
Act,\7\ in general, and furthers the objectives of section 6(b)(5) \8\
in particular in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, and to
remove impediments to and perfect the mechanisms of a free and open
market and a national market system.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b).
\8\ 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
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
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to section 19(b)(3)(A) \9\ of the Act and Rule 19b-
4(f)(6) thereunder.\10\ At any time within 60 days of the filing of the
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.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
NYSE Arca has asked the Commission to waive the 30-day operative
delay. The Commission believes such a waiver is consistent with the
protection of investors and the public interest because it would permit
the Exchange to offer the Fill-or-Kill order type functionality without
delay.\11\ For this reason, the Commission designates the proposal to
be operative upon filing with the Commission.
---------------------------------------------------------------------------
\11\ For purposes only of waiving the 30-day pre-operative
period, the Commission has considered the proposed rule's impact on
efficiency, competition and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
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 Number SR-NYSEArca-2007-86 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-NYSEArca-2007-86.
This file number should be included on the subject line if e-mail is
used. To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for inspection
and copying in the Commission's Public Reference Room, 100 F. Street,
NE., Washington, DC 20549, on official business days between the hours
of 10 a.m. and 3 p.m. Copies of such filing also will be available for
inspection and copying at the principal office of 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 Number SR-NYSEArca-2007-86 and should
be submitted on or before September 21, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 12 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E7-17274 Filed 8-30-07; 8:45 am]
BILLING CODE 8010-01-P
