Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Order Approving Proposed Rule Change to Standardize Certain Options Rules for Equity, Index, and ETF Options, 54960 [E7-19022]

Download as PDF 54960 Federal Register / Vol. 72, No. 187 / Thursday, September 27, 2007 / Notices C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants or Others Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change has become effective pursuant to section 19(b)(3)(A) of the Act 6 and Rule 19b–4(f)(3) thereunder 7 because it is concerned solely with the operation and administration of the MSRB. 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.8 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 rulecomments@sec.gov. Please include File Number SR–MSRB–2007–02 on the subject line. rwilkins on PROD1PC63 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–MSRB–2007–02. 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 6 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(3). 8 See Section 19(b)(3)(C) of the Act, 15 U.S.C. 78s(b)(3)(C). For purposes of calculating the 60-day abrogation period, the Commission considers the period to commence on September 17, 2007, the date that the MSRB filed Amendment No. 1. 7 17 VerDate Aug<31>2005 16:40 Sep 26, 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 MSRB. 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–MSRB–2007–02 and should be submitted on or before October 18, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–19023 Filed 9–26–07; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56483; File No. SR–Phlx– 2007–27] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Order Approving Proposed Rule Change to Standardize Certain Options Rules for Equity, Index, and ETF Options On March 21, 2007, the Philadelphia Stock Exchange, Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’), pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 19b–4 thereunder, 2 a proposed rule change to amend Phlx Rule 1014(c)(i)(A) relating to quote spread parameters (bid/ask differentials) and Phlx Rule 1014(g)(i)(B) relating to the purchase or sale priority for orders of 100 contracts or more, such that the rules would apply equally to options on equities, options on exchange-traded fund (‘‘ETF’’) shares, 917 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 Frm 00072 Fmt 4703 For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 7 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–19022 Filed 9–26–07; 8:45 am] BILLING CODE 8010–01–P UNITED STATES SENTENCING COMMISSION Sentencing Guidelines for United States Courts United States Sentencing Commission. ACTION: Notice of extension of the deadline for public comment regarding retroactivity. AGENCY: September 20, 2007. PO 00000 and index options. On July 25, 2007, the Exchange filed Amendment No. 1 to the proposed rule change. The proposed rule change, as amended, was published for comment in the Federal Register on August 21, 2007. 3 The Commission received no comment letters on the proposal. The Commission finds that the proposed rule change is consistent with section 6(b) of the Act, 4 in general, and with section 6(b)(5) of the Act, 5 in particular, because it serves to ease and clarify the application of the Exchange’s rules relating to quote spread parameters and priority in purchase or sale for orders of 100 contracts or more. The Commission believes that it is reasonable to make no distinction among options on equities, ETFs, and indexes, with respect to the aforementioned rules, and that by applying them in the same manner to all such option types, the proposed rule change should help obviate confusion among customers and Exchange members. It is therefore ordered, pursuant to section 19(b)(2) of the Act, 6 that the proposed rule change (SR–Phlx–2007– 27), as amended, be, and hereby is, approved. Sfmt 4703 SUMMARY: The United States Sentencing Commission submitted a series of amendments to the federal sentencing guidelines to Congress on May 1, 2007. Notice of such amendments was published in the Federal Register on May 21, 2007 (72 FR 28558). On July 31, 2007, the Commission published a notice (72 FR 41794) requesting 3 See Securities Exchange Act Release No. 56249 (August 14, 2007), 72 FR 46697. 4 15 U.S.C. 78f(b). 5 15 U.S.C. 78f(b)(5). 6 15 U.S.C. 78f(b)(5). 7 17 CFR 200.30–3(a)(12). E:\FR\FM\27SEN1.SGM 27SEN1

Agencies

[Federal Register Volume 72, Number 187 (Thursday, September 27, 2007)]
[Notices]
[Page 54960]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-19022]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56483; File No. SR-Phlx-2007-27]


Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; 
Order Approving Proposed Rule Change to Standardize Certain Options 
Rules for Equity, Index, and ETF Options

September 20, 2007.
    On March 21, 2007, the Philadelphia Stock Exchange, Inc. (``Phlx'' 
or ``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder, \2\ a 
proposed rule change to amend Phlx Rule 1014(c)(i)(A) relating to quote 
spread parameters (bid/ask differentials) and Phlx Rule 1014(g)(i)(B) 
relating to the purchase or sale priority for orders of 100 contracts 
or more, such that the rules would apply equally to options on 
equities, options on exchange-traded fund (``ETF'') shares, and index 
options. On July 25, 2007, the Exchange filed Amendment No. 1 to the 
proposed rule change. The proposed rule change, as amended, was 
published for comment in the Federal Register on August 21, 2007. \3\ 
The Commission received no comment letters on the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 56249 (August 14, 
2007), 72 FR 46697.
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    The Commission finds that the proposed rule change is consistent 
with section 6(b) of the Act, \4\ in general, and with section 6(b)(5) 
of the Act, \5\ in particular, because it serves to ease and clarify 
the application of the Exchange's rules relating to quote spread 
parameters and priority in purchase or sale for orders of 100 contracts 
or more. The Commission believes that it is reasonable to make no 
distinction among options on equities, ETFs, and indexes, with respect 
to the aforementioned rules, and that by applying them in the same 
manner to all such option types, the proposed rule change should help 
obviate confusion among customers and Exchange members.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to section 19(b)(2) of the Act, 
\6\ that the proposed rule change (SR-Phlx-2007-27), as amended, be, 
and hereby is, approved.
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    \6\ 15 U.S.C. 78f(b)(5).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority. \7\
Florence E. Harmon,
Deputy Secretary.
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    \7\ 17 CFR 200.30-3(a)(12).
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[FR Doc. E7-19022 Filed 9-26-07; 8:45 am]
BILLING CODE 8010-01-P