Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Member Floor Fees, 53270-53271 [E7-18269]

Download as PDF 53270 Federal Register / Vol. 72, No. 180 / Tuesday, September 18, 2007 / Notices any, matters have been added, deleted or postponed, please contact the Office of the Secretary at (202) 551–5400. SECURITIES AND EXCHANGE COMMISSION Dated: September 13, 2007. Nancy M. Morris, Secretary. [FR Doc. E7–18381 Filed 9–17–07; 8:45 am] [Release No. 34–56382; File No. SR–Amex– 2007–80] BILLING CODE 8010–01–P Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Member Floor Fees SECURITIES AND EXCHANGE COMMISSION September 11, 2007. [File No. 500–1] In the Matter of Terax Energy, Inc.; Corrected Order of Suspension of Trading September 12, 2007. It appears to the Securities and Exchange Commission that there is a lack of current and accurate information concerning the securities of Terax Energy, Inc. (‘‘Terax,’’ trading symbol TEXG.OB), because of questions regarding the accuracy of assertions by Terax and by others, in reports filed with the Commission and in press releases to investors concerning, among other things: (1) The status of Terax’s oil and gas operations, (2) Terax’s purported financing agreements, (3) Terax’s supposed acquisition of a controlling interest in a foreign oil and gas firm, (4) the existence, terms and status of a purported share exchange agreement between Terax and Westar Oil, Inc., and (5) the identity of the persons in control of the operations and management of Terax. The Commission is of the opinion that the public interest and the protection of investors require a suspension of trading in the securities of the above-listed company. Therefore, it is ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the abovelisted company is suspended for the period from 9:30 a.m. EDT, September 12, 2007 through 11:59 p.m. EDT, on September 25, 2007. By the Commission. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–18268 Filed 9–17–07; 8:45 am] pwalker on PROD1PC71 with NOTICES BILLING CODE 8010–01–P Pursuant to section 19(b)(1) 1 of the Securities Exchange Act of 1934 (the ‘‘Act’’), and Rule 19b–4 2 thereunder, notice is hereby given that on August 29, 2007, the American Stock Exchange LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) a proposed rule change as described in Items I, II, and III below, which Items have been prepared substantially by the Exchange. Amex has designated the proposed rule change as establishing or changing a due, fee, or other charge applicable only to members, pursuant to section 19(b)(3)(A)(ii) of the Act,3 and Rule 19b–4(f)(2) 4 thereunder, 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 Exchange proposes to revise the Amex Floor Fee Schedule (the ‘‘Fee Schedule’’). The text of the proposed rule change is available on Amex’s Web site at https://www.amex.com, at Amex’s Office of the Secretary, 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, Amex 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 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b–4(f)(2). 2 17 VerDate Aug<31>2005 19:28 Sep 17, 2007 Jkt 211001 PO 00000 Frm 00048 Fmt 4703 Sfmt 4703 A. Self-Regulatory Organization’s Statement of the Purpose of, and the Statutory Basis for, the Proposed Rule Change 1. Purpose The purpose of this proposal is to adopt various floor fees for services provided by the Exchange to members and member organizations in connection with the installation and management of member technology and computer networks. These services, among other things, include floor facilities, network connectivity, power and telecommunications. The Exchange submits that these changes will be implemented on September 1, 2007. The Fee Schedule sets forth the various floor fees that the Exchange proposes to adopt on either a one-time, annual or monthly basis as appropriate. The proposal seeks to add three (3) new categories to the Fee Schedule to include (i) Colocation Space, (ii) Amex Port Charges and (iii) Power. In addition, the proposal adds various fees in the Fee Schedule under sections entitled ‘‘Market Data Fees/Terminals,’’ ‘‘Equipment’’ and ‘‘Telecommunications.’’ The section entitled ‘‘Colocation Space’’ relates to the Exchange facilities space that is made available to members and member firms for the purpose of managing their own network and computing hardware at the Amex. The proposed fees provide that the members and member firms desiring full cabinet 5 space be assessed a one-time fee of $2,125.00 with an ongoing annual fee of $14,400 ($1,200/month). Alternatively, for a 1/8 cabinet increment, members will be charged a one-time fee of $265.00 with an annual fee of $1,800.00 ($150 per month). The section entitled ‘‘Amex Port Charges’’ are proposed charges for network connectivity. These proposed one-time fees range from $100 to $780 with ongoing annual fees ranging from $792 ($66/month) to $7,020 ($585/ month). The proposed connectivity charge will depend on the type of network connectivity. The section entitled ‘‘Power’’ are proposed charges for electrical power that members and member firms may use to supplement the power included in the standard Colocation Space. Proposed charges range from $1,200 a year ($100/month) to $21,912.00 a year 5 ‘‘Full cabinet’’ is defined as one (1) 44 rack unit (RU) powered telecommunications cabinet or rack with 33 RU usable space. Standard power is one (1) 20 amperes (amps) 120 volts primary power circuit and one (1) 20 amps 120 volts redundant power circuit per cabinet or rack with 16 amps available per circuit. E:\FR\FM\18SEN1.SGM 18SEN1 Federal Register / Vol. 72, No. 180 / Tuesday, September 18, 2007 / Notices pwalker on PROD1PC71 with NOTICES ($1,826/month). Differences in the proposed fees depend on whether the electrical power is primary or redundant and the specific voltage and amp requirements. The proposal also adds various charges for market data in the current section entitled ‘‘Market Data Fees/ Terminals.’’ These proposed fees range from $113.76 a year ($9.48/month) to $3,120 a year ($260/month). The proposed charges are for fees in connection with various market data services such as Dow Jones and Bloomberg. With respect to the proposed fee additions to the section entitled ‘‘Equipment,’’ members and member firms would be assessed for the use of ‘‘Podia’’ 6 and ‘‘MCTV’’ 7 in the amount of $1,044 per year ($87/month) and $479.88 per year ($39.99/month), respectively. As provided for in the proposed Floor Fee Schedule, these charges would defray the Exchange’s cost of providing this equipment to members. Similarly, the proposed ‘‘Internet Service Fee’’ of $840.00 per year ($70/month) in the section entitled ‘‘Telecommunications’’ will defray the cost of providing this service to those members and member firms that choose to access the internet through the Exchange. Lastly, the current ‘‘Floor Wire Privilege Fee’’ would be eliminated under the proposal because the proposed charges in connection with ‘‘Amex Port Charges’’ apply to network connectivity so that the ‘‘Floor Wire Privilege Fee’’ is not necessary. 2. Statutory Basis The proposed fee change is consistent with section 6(b)(4) of the Act 8 regarding the equitable allocation of reasonable dues, fees and other charges among exchange members and other persons using exchange facilities. The Exchange believes that the proposal is an equitable allocation of reasonable fees/charges among floor members because the fees/charges relating to floor facilities, network connectivity, power and telecommunications are assessed only against those floor members who choose to employ the Exchange’s offering of such products/services. In addition, the Exchange submits that the proposed fees/charges are reasonable in connection with the Exchange’s offered products/services, and are largely expected to cover the cost to the Exchange of providing such products/ 6 ‘‘Podia’’ refers to an increment of space used by specialists at a trading post. 7 ‘‘MCTV’’ is cable television. 8 15 U.S.C. 78f(b)(4). VerDate Aug<31>2005 19:28 Sep 17, 2007 Jkt 211001 services. Accordingly, the Exchange seeks, through this proposal, to better manage its costs for supplying member technology and computer networks. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange believes that 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. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective pursuant to section 19(b)(3)(A)(ii) of the Act,9 and Rule 19b–4(f)(2) 10 thereunder, because it establishes or changes a due, fee, or other charge imposed by the Exchange, applicable only to members. 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. 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: 53271 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 Amex. 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–Amex–2007–80 and should be submitted on or before October 9, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.11 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–18269 Filed 9–17–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–Amex–2007–80 on the subject line. [Release No. 34–56384; File No. SR–NYSE– 2007–80] 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–Amex–2007–80. This file September 11, 2007. Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to the Elimination of One of its NYSE OpenBook Services 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 30, 2007, the New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed 11 17 9 15 U.S.C. 78s(b)(3)(A)(ii). 10 17 CFR 240.19b–4(f)(2). PO 00000 Frm 00049 Fmt 4703 Sfmt 4703 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 E:\FR\FM\18SEN1.SGM 18SEN1

Agencies

[Federal Register Volume 72, Number 180 (Tuesday, September 18, 2007)]
[Notices]
[Pages 53270-53271]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-18269]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56382; File No. SR-Amex-2007-80]


Self-Regulatory Organizations; American Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to Member Floor Fees

September 11, 2007.
    Pursuant to section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (the ``Act''), and Rule 19b-4 \2\ thereunder, notice is hereby 
given that on August 29, 2007, the American Stock Exchange LLC 
(``Amex'' or ``Exchange'') filed with the Securities and Exchange 
Commission (``Commission'') a proposed rule change as described in 
Items I, II, and III below, which Items have been prepared 
substantially by the Exchange. Amex has designated the proposed rule 
change as establishing or changing a due, fee, or other charge 
applicable only to members, pursuant to section 19(b)(3)(A)(ii) of the 
Act,\3\ and Rule 19b-4(f)(2) \4\ thereunder, 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)(ii).
    \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 Exchange proposes to revise the Amex Floor Fee Schedule (the 
``Fee Schedule'').
    The text of the proposed rule change is available on Amex's Web 
site at https://www.amex.com, at Amex's Office of the Secretary, 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, Amex 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 the 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of this proposal is to adopt various floor fees for 
services provided by the Exchange to members and member organizations 
in connection with the installation and management of member technology 
and computer networks. These services, among other things, include 
floor facilities, network connectivity, power and telecommunications. 
The Exchange submits that these changes will be implemented on 
September 1, 2007.
    The Fee Schedule sets forth the various floor fees that the 
Exchange proposes to adopt on either a one-time, annual or monthly 
basis as appropriate. The proposal seeks to add three (3) new 
categories to the Fee Schedule to include (i) Colocation Space, (ii) 
Amex Port Charges and (iii) Power. In addition, the proposal adds 
various fees in the Fee Schedule under sections entitled ``Market Data 
Fees/Terminals,'' ``Equipment'' and ``Telecommunications.''
    The section entitled ``Colocation Space'' relates to the Exchange 
facilities space that is made available to members and member firms for 
the purpose of managing their own network and computing hardware at the 
Amex. The proposed fees provide that the members and member firms 
desiring full cabinet \5\ space be assessed a one-time fee of $2,125.00 
with an ongoing annual fee of $14,400 ($1,200/month). Alternatively, 
for a 1/8 cabinet increment, members will be charged a one-time fee of 
$265.00 with an annual fee of $1,800.00 ($150 per month).
---------------------------------------------------------------------------

    \5\ ``Full cabinet'' is defined as one (1) 44 rack unit (RU) 
powered telecommunications cabinet or rack with 33 RU usable space. 
Standard power is one (1) 20 amperes (amps) 120 volts primary power 
circuit and one (1) 20 amps 120 volts redundant power circuit per 
cabinet or rack with 16 amps available per circuit.
---------------------------------------------------------------------------

    The section entitled ``Amex Port Charges'' are proposed charges for 
network connectivity. These proposed one-time fees range from $100 to 
$780 with ongoing annual fees ranging from $792 ($66/month) to $7,020 
($585/month). The proposed connectivity charge will depend on the type 
of network connectivity.
    The section entitled ``Power'' are proposed charges for electrical 
power that members and member firms may use to supplement the power 
included in the standard Colocation Space. Proposed charges range from 
$1,200 a year ($100/month) to $21,912.00 a year

[[Page 53271]]

($1,826/month). Differences in the proposed fees depend on whether the 
electrical power is primary or redundant and the specific voltage and 
amp requirements.
    The proposal also adds various charges for market data in the 
current section entitled ``Market Data Fees/Terminals.'' These proposed 
fees range from $113.76 a year ($9.48/month) to $3,120 a year ($260/
month). The proposed charges are for fees in connection with various 
market data services such as Dow Jones and Bloomberg.
    With respect to the proposed fee additions to the section entitled 
``Equipment,'' members and member firms would be assessed for the use 
of ``Podia'' \6\ and ``MCTV'' \7\ in the amount of $1,044 per year 
($87/month) and $479.88 per year ($39.99/month), respectively. As 
provided for in the proposed Floor Fee Schedule, these charges would 
defray the Exchange's cost of providing this equipment to members. 
Similarly, the proposed ``Internet Service Fee'' of $840.00 per year 
($70/month) in the section entitled ``Telecommunications'' will defray 
the cost of providing this service to those members and member firms 
that choose to access the internet through the Exchange.
---------------------------------------------------------------------------

    \6\ ``Podia'' refers to an increment of space used by 
specialists at a trading post.
    \7\ ``MCTV'' is cable television.
---------------------------------------------------------------------------

    Lastly, the current ``Floor Wire Privilege Fee'' would be 
eliminated under the proposal because the proposed charges in 
connection with ``Amex Port Charges'' apply to network connectivity so 
that the ``Floor Wire Privilege Fee'' is not necessary.
2. Statutory Basis
    The proposed fee change is consistent with section 6(b)(4) of the 
Act \8\ regarding the equitable allocation of reasonable dues, fees and 
other charges among exchange members and other persons using exchange 
facilities. The Exchange believes that the proposal is an equitable 
allocation of reasonable fees/charges among floor members because the 
fees/charges relating to floor facilities, network connectivity, power 
and telecommunications are assessed only against those floor members 
who choose to employ the Exchange's offering of such products/services. 
In addition, the Exchange submits that the proposed fees/charges are 
reasonable in connection with the Exchange's offered products/services, 
and are largely expected to cover the cost to the Exchange of providing 
such products/services. Accordingly, the Exchange seeks, through this 
proposal, to better manage its costs for supplying member technology 
and computer networks.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange believes that 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.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing proposed rule change has become effective pursuant to 
section 19(b)(3)(A)(ii) of the Act,\9\ and Rule 19b-4(f)(2) \10\ 
thereunder, because it establishes or changes a due, fee, or other 
charge imposed by the Exchange, applicable only to members. 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)(ii).
    \10\ 17 CFR 240.19b-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 Number SR-Amex-2007-80 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-Amex-2007-80. 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 Amex. 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-Amex-2007-80 and should be 
submitted on or before October 9, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-18269 Filed 9-17-07; 8:45 am]
BILLING CODE 8010-01-P