Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Fee Changes, 52186-52187 [E7-17937]
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52186
Federal Register / Vol. 72, No. 176 / Wednesday, September 12, 2007 / Notices
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 ISE. 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–ISE–2007–75 and should be
submitted on or before October 3, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.9
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–17936 Filed 9–11–07; 8:45 am]
BILLING CODE 8010–01–P
[Release No. 34–56367; File No. SR–ISE–
2007–82]
September 6, 2007.
jlentini on PROD1PC65 with NOTICES
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on
September 4, 2007, the International
Securities Exchange, LLC (the
‘‘Exchange’’ or ‘‘ISE’’) 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 Exchange. The
Exchange filed the proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(2) thereunder 4
which renders it effective upon filing
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)(2).
VerDate Aug<31>2005
18:43 Sep 11, 2007
Jkt 211001
The ISE is proposing to amend its
Schedule of Fees to establish fees for
transactions in options on one
‘‘Premium Product.’’ 5 The text of the
proposed rule change is available at the
Exchange, the Commission’s Public
Reference Room, and at the Exchange’s
Web site (https://www.ise.com).
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
1. Purpose
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to Fee Changes
1 15
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
SECURITIES AND EXCHANGE
COMMISSION
9 17
with the Commission. The Commission
is publishing this notice to solicit
comments on the proposed rule change
from interested persons.
The Exchange is proposing to amend
its Schedule of Fees to establish fees for
transactions in options on the iShares
Dow Jones U.S. Broker-Dealers Index
Fund (‘‘IAI’’).6 The Exchange represents
that IAI is eligible for options trading
5 ‘‘Premium Products’’ is defined in the ISE
Schedule of Fees as the products enumerated
therein.
6 iShares is a registered trademark of Barclays
Global Investors, N.A. (‘‘BGI’’), a majority-owned
subsidiary of Barclays Bank PLC. ‘‘Dow Jones’’ is a
service mark of Dow Jones & Company, Inc. (‘‘Dow
Jones’’) and has been licensed for use for certain
purposes by BGI. All other trademarks and service
marks are the property of their respective owners.
iShares Dow Jones U.S. Broker-Dealers Index Fund
(‘‘IAI’’) is not sponsored, endorsed, issued, sold or
promoted by Dow Jones. BGI and Dow Jones have
not licensed or authorized ISE to (i) engage in the
creation, listing, provision of a market for trading,
marketing, and promotion of options on IAI or (ii)
to use and refer to any of their trademarks or service
marks in connection with the listing, provision of
a market for trading, marketing, and promotion of
options on IAI or with making disclosures
concerning options on IAI under any applicable
federal or state laws, rules or regulations. BGI and
Dow Jones do not sponsor, endorse, or promote
such activity by ISE, and are not affiliated in any
manner with ISE.
PO 00000
Frm 00142
Fmt 4703
Sfmt 4703
because it constitutes ‘‘Fund Shares,’’ as
defined by ISE Rule 502(h).
All of the applicable fees covered by
this filing are identical to fees charged
by the Exchange for all other Premium
Products. Specifically, the Exchange is
proposing to adopt an execution fee and
a comparison fee for all transactions in
options on IAI.7 The amount of the
execution fee and comparison fee for
products covered by this filing shall be
$0.15 and $0.03 per contract,
respectively, for all Public Customer
Orders 8 and Firm Proprietary orders.
The amount of the execution fee and
comparison fee for all ISE Market Maker
transactions shall be equal to the
execution fee and comparison fee
currently charged by the Exchange for
ISE Market Maker transactions in equity
options.9 Finally, the amount of the
execution fee and comparison fee for all
non-ISE Market Maker transactions shall
be $0.37 and $0.03 per contract,
respectively. Further, since options on
IAI are multiply-listed, the Payment for
Order Flow fee shall apply to this
product. The Exchange believes the
proposed rule change will further the
Exchange’s goal of introducing new
products to the marketplace that are
competitively priced.
2. Basis
The Exchange believes that the
proposed rule change is consistent with
the objectives of Section 6 of the Act,10
in general, and furthers the objectives of
Section 6(b)(4),11 in particular, in that it
is designed to provide for the equitable
allocation of reasonable dues, fees, and
other charges among its members and
other persons using its facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
7 These fees will be charged only to Exchange
members. Under a pilot program that is set to expire
on July 31, 2008, these fees will also be charged to
Linkage Orders (as defined in ISE Rule 1900). See
Securities Exchange Act Release No. 56128 (July 24,
2007), 72 FR 42161 (August 1, 2007) (SR–ISE–2007–
55).
8 ‘‘Public Customer Order’’ is defined in Exchange
Rule 100(a)(39) as an order for the account of a
‘‘Public Customer.’’ ‘‘Public Customer’’ is defined
in Exchange Rule 100(a)(38) as a person that is not
a broker or dealer in securities.
9 The execution fee is currently between $.21 and
$.12 per contract side, depending on the Exchange
Average Daily Volume, and the comparison fee is
currently $.03 per contract side.
10 15 U.S.C. 78f(b).
11 15 U.S.C. 78f(b)(4).
E:\FR\FM\12SEN1.SGM
12SEN1
Federal Register / Vol. 72, No. 176 / Wednesday, September 12, 2007 / Notices
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because it establishes or changes a
due, fee, or other charge applicable only
to a member, the foregoing rule change
has become effective pursuant to
Section 19(b)(3)(A) of the Act 12 and
Rule 19b–4(f)(2) 13 thereunder. At any
time within 60 days of the filing of such
proposed rule change, the Commission
may summarily abrogate such rule
change if it appears to the Commission
that such action is necessary or
appropriate in the public interest, for
the protection of investors, or otherwise
in furtherance of the purposes of the
Act.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
jlentini on PROD1PC65 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
No. SR–ISE–2007–82 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–ISE–2007–82. 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
12 15
13 17
U.S.C. 78s(b)(3)(A).
CFR 19b–4(f)(2).
VerDate Aug<31>2005
18:43 Sep 11, 2007
Jkt 211001
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 ISE. 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–ISE–2007–82 and should be
submitted on or before October 3, 2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7–17937 Filed 9–11–07; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56368; File No. SR–ISE–
2007–81]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to Fee Changes
September 6, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on
September 4, 2007, the International
Securities Exchange, LLC (the
‘‘Exchange’’ or ‘‘ISE’’) 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 Exchange. The
Exchange filed the proposed rule change
pursuant to Section 19(b)(3)(A) of the
Act 3 and Rule 19b–4(f)(2) thereunder 4
which renders it effective upon filing
14 17
CFR 200.30–3(a)(12).
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)(2).
11
PO 00000
Frm 00143
Fmt 4703
Sfmt 4703
52187
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 ISE is proposing to amend its
Schedule of Fees to remove the
surcharge fee for transactions in options
on the iShares Lehman Brothers 1–3
Year Treasury Bond Fund, the iShares
Lehman Brothers 7–10 Year Treasury
Bond Fund and the iShares Lehman
Brothers 20+ Year Treasury Bond Fund.
The text of the proposed rule change is
available at the Exchange, the
Commission’s Public Reference Room,
and at the Exchange’s Web site (https://
www.ise.com).
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for,
the proposed rule change and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item 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, the Proposed Rule
Change
1. Purpose
The Exchange is proposing to amend
its Schedule of Fees to remove the
surcharge fee previously adopted for
transactions in options on the iShares
Lehman Brothers 1–3 Year Treasury
Bond Fund (‘‘SHY’’), the iShares
Lehman Brothers 7–10 Year Treasury
Bond Fund (‘‘IEF’’), and the iShares
Lehman Brothers 20+ Year Treasury
Bond Fund (‘‘TLT’’).5 The Exchange is
proposing to remove the surcharge fee
from its Schedule of Fees because it no
longer pays a license fee to Lehman
Brothers, Inc. in connection with
transactions in options on SHY, IEF,
and TLT. Accordingly, there is no
longer a need for this surcharge fee. The
Exchange will, however, continue to
charge an execution fee and a
comparison fee for transactions in
options on SHY, IEF and TLT.
5 See Securities Exchange Act Release No. 49755
(May 21, 2004), 69 FR 30970 (June 1, 2004).
E:\FR\FM\12SEN1.SGM
12SEN1
]]>Agencies
[Federal Register Volume 72, Number 176 (Wednesday, September 12, 2007)]
[Notices]
[Pages 52186-52187]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-17937]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56367; File No. SR-ISE-2007-82]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to Fee Changes
September 6, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on September 4, 2007, the International Securities Exchange, LLC
(the ``Exchange'' or ``ISE'') 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
Exchange. The Exchange filed the proposed rule change pursuant to
Section 19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(2) thereunder \4\
which renders it 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)(2).
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The ISE is proposing to amend its Schedule of Fees to establish
fees for transactions in options on one ``Premium Product.'' \5\ The
text of the proposed rule change is available at the Exchange, the
Commission's Public Reference Room, and at the Exchange's Web site
(https://www.ise.com).
---------------------------------------------------------------------------
\5\ ``Premium Products'' is defined in the ISE Schedule of Fees
as the products enumerated therein.
---------------------------------------------------------------------------
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the Exchange included statements
concerning the purpose of, and basis for, the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item 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, the Proposed Rule Change
1. Purpose
The Exchange is proposing to amend its Schedule of Fees to
establish fees for transactions in options on the iShares Dow Jones
U.S. Broker-Dealers Index Fund (``IAI'').\6\ The Exchange represents
that IAI is eligible for options trading because it constitutes ``Fund
Shares,'' as defined by ISE Rule 502(h).
---------------------------------------------------------------------------
\6\ iShares[reg] is a registered trademark of Barclays Global
Investors, N.A. (``BGI''), a majority-owned subsidiary of Barclays
Bank PLC. ``Dow Jones'' is a service mark of Dow Jones & Company,
Inc. (``Dow Jones'') and has been licensed for use for certain
purposes by BGI. All other trademarks and service marks are the
property of their respective owners. iShares Dow Jones U.S. Broker-
Dealers Index Fund (``IAI'') is not sponsored, endorsed, issued,
sold or promoted by Dow Jones. BGI and Dow Jones have not licensed
or authorized ISE to (i) engage in the creation, listing, provision
of a market for trading, marketing, and promotion of options on IAI
or (ii) to use and refer to any of their trademarks or service marks
in connection with the listing, provision of a market for trading,
marketing, and promotion of options on IAI or with making
disclosures concerning options on IAI under any applicable federal
or state laws, rules or regulations. BGI and Dow Jones do not
sponsor, endorse, or promote such activity by ISE, and are not
affiliated in any manner with ISE.
---------------------------------------------------------------------------
All of the applicable fees covered by this filing are identical to
fees charged by the Exchange for all other Premium Products.
Specifically, the Exchange is proposing to adopt an execution fee and a
comparison fee for all transactions in options on IAI.\7\ The amount of
the execution fee and comparison fee for products covered by this
filing shall be $0.15 and $0.03 per contract, respectively, for all
Public Customer Orders \8\ and Firm Proprietary orders. The amount of
the execution fee and comparison fee for all ISE Market Maker
transactions shall be equal to the execution fee and comparison fee
currently charged by the Exchange for ISE Market Maker transactions in
equity options.\9\ Finally, the amount of the execution fee and
comparison fee for all non-ISE Market Maker transactions shall be $0.37
and $0.03 per contract, respectively. Further, since options on IAI are
multiply-listed, the Payment for Order Flow fee shall apply to this
product. The Exchange believes the proposed rule change will further
the Exchange's goal of introducing new products to the marketplace that
are competitively priced.
---------------------------------------------------------------------------
\7\ These fees will be charged only to Exchange members. Under a
pilot program that is set to expire on July 31, 2008, these fees
will also be charged to Linkage Orders (as defined in ISE Rule
1900). See Securities Exchange Act Release No. 56128 (July 24,
2007), 72 FR 42161 (August 1, 2007) (SR-ISE-2007-55).
\8\ ``Public Customer Order'' is defined in Exchange Rule
100(a)(39) as an order for the account of a ``Public Customer.''
``Public Customer'' is defined in Exchange Rule 100(a)(38) as a
person that is not a broker or dealer in securities.
\9\ The execution fee is currently between $.21 and $.12 per
contract side, depending on the Exchange Average Daily Volume, and
the comparison fee is currently $.03 per contract side.
---------------------------------------------------------------------------
2. Basis
The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\10\ in general, and
furthers the objectives of Section 6(b)(4),\11\ in particular, in that
it is designed to provide for the equitable allocation of reasonable
dues, fees, and other charges among its members and other persons using
its facilities.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78f(b).
\11\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act.
[[Page 52187]]
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because it establishes or changes a due, fee, or other charge
applicable only to a member, the foregoing rule change has become
effective pursuant to Section 19(b)(3)(A) of the Act \12\ and Rule 19b-
4(f)(2) \13\ thereunder. At any time within 60 days of the filing of
such proposed rule change, the Commission may summarily abrogate such
rule change if it appears to the Commission that such action is
necessary or appropriate in the public interest, for the protection of
investors, or otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\12\ 15 U.S.C. 78s(b)(3)(A).
\13\ 17 CFR 19b-4(f)(2).
---------------------------------------------------------------------------
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-ISE-2007-82 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-ISE-2007-82. 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 ISE. 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-ISE-2007-82 and should be
submitted on or before October 3, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\14\
---------------------------------------------------------------------------
\14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-17937 Filed 9-11-07; 8:45 am]
BILLING CODE 8010-01-P
