Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing of Proposed Rule Change, as Modified by Amendment No. 3, Relating to the Definition of “Complex Trade”, 57985-57986 [E7-19937]
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Federal Register / Vol. 72, No. 196 / Thursday, October 11, 2007 / Notices
57985
SECURITIES AND EXCHANGE
COMMISSION
Public Reference Room, and http://
www.phlx.com.
definition proposed by other Linkage
Plan Participants.8
[Release No. 34–56608; File No. SR–Phlx–
2007–40]
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Synthetic Option Order
Currently, Rule 1066(g), ‘‘Synthetic
Option,’’ defines a ‘‘synthetic option
order’’ as an order to buy or sell a stated
number of option contracts and buy or
sell the underlying stock or ExchangeTraded Fund Share in an amount that
would offset (on a one-for-one basis) the
option position.
The proposed rule change would redefine ‘‘synthetic option order’’ to mean
an order to buy or sell a stated number
of units of an underlying stock or a
security convertible into the underlying
stock (‘‘convertible security’’) coupled
with either (i) the purchase or sale of
option contract(s) on the opposite side
of the market representing either the
same number of units of the underlying
stock or convertible security or the
number of units of the underlying stock
or convertible security necessary to
create a delta neutral position; or (ii) the
purchase or sale of an equal number of
put and call option contracts, each
having the same exercise price,
expiration date, and each representing
the same number of units of stock as,
and on the opposite side of the market
from, the stock or convertible security
portion of the order.
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing of Proposed Rule
Change, as Modified by Amendment
No. 3, Relating to the Definition of
‘‘Complex Trade’’
October 3, 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 May 21,
2007, the Philadelphia Stock Exchange,
Inc. (‘‘Phlx’’ 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
Phlx. The Exchange filed Amendment
No. 1 to the proposal on September 4,
2007, and withdrew Amendment No. 1
on October 1, 2007. The Exchange filed
Amendment Nos. 2 and 3 to the
proposal on October 1, 2007, and
withdrew Amendment No. 2 on the
same day.3 The Commission is
publishing this notice to solicit
comments on the proposed rule change,
as modified by Amendment No. 3, from
interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Phlx proposes to amend Phlx
Rule 1066, ‘‘Certain Types of Orders
Defined,’’ to revise the definition of
‘‘synthetic option,’’ and to amend Phlx
Rule 1083(c) to change the definition of
‘‘Complex Trade’’ as it relates to the
Plan for the Purpose of Creating and
Operating an Intermarket Option
Linkage (the ‘‘Linkage Plan’’).4
The text of the proposed rule change
is available at Phlx, the Commission’s
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Amendment No. 3 replaces and supersedes the
previously filed proposed rule change in its
entirety.
4 On July 28, 2000, the Commission approved a
national market system plan for the purpose of
creating and operating the Linkage proposed by the
American Stock Exchange LLC, Chicago Board
Options Exchange, Incorporated, and International
Securities Exchange, LLC (‘‘ISE’’). See Securities
Exchange Act Release No. 43086 (July 28, 2000), 65
FR 48023 (August 4, 2000). Subsequently, Phlx,
Pacific Exchange, Inc. (n/k/a NYSE Arca, Inc.), and
Boston Stock Exchange, Inc. joined the Linkage
Plan. See Securities Exchange Act Release Nos.
43573 (November 16, 2000), 65 FR 70851
(November 28, 2000); 43574 (November 16, 2000),
65 FR 70850 (November 28, 2000); and 49198
(February 5, 2004), 69 FR 7029 (February 12, 2004).
rwilkins on PROD1PC63 with NOTICES
2 17
VerDate Aug<31>2005
16:09 Oct 10, 2007
Jkt 214001
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, first, to amend Phlx Rule
1066(g) by adopting a new definition of
‘‘synthetic option order’’ to address
strategies for synthetic option orders
that often require a delta neutral
position among the various components
of the synthetic option order instead of
the current requirement that such
components offset one another on a onefor-one basis. The proposed definition is
consistent with the definition of ‘‘stockoption order’’ adopted by other U.S.
options exchanges.5 A further purpose
of the proposed rule change is to add a
certain type of synthetic option order (as
described more fully below) to the
definition of ‘‘Complex Trade’’ in Phlx
Rule 1083 so that such an order that
resulted in a Trade-Through 6 would
qualify for an exception to TradeThrough and Satisfaction Order 7
liability under the Exchange’s Rules and
for purposes of the Linkage Plan. The
proposed changes to the definition of
‘‘Complex Trade’’ in Phlx Rule 1083
conform the Phlx’s proposed definition
of ‘‘Complex Trade’’ to the revised
5 See,
e.g., ISE Rule 722(a)(5)(i).
means a transaction in an
options series at a price that is inferior to the
National Best Bid or Offer (‘‘NBBO’’), but shall not
include a transaction that occurs at a price that is
one minimum quoting increment inferior to the
NBBO provided a Linkage Order is
contemporaneously sent to each Participant
Exchange disseminating the NBBO for the full size
of the Participant Exchange’s bid (offer) that
represents the NBBO. See Phlx Rule 1083(t).
7 A Satisfaction Order is an order sent through the
Linkage to notify a member of another Participant
Exchange of a Trade-Through and to seek
satisfaction of the liability arising from that TradeThrough. See Phlx Rule 1083(k)(iii).
6 ‘‘Trade-Through’’
PO 00000
Frm 00077
Fmt 4703
Sfmt 4703
Complex Trade
The proposal would also amend Phlx
Rule 1083 to revise the definition of
‘‘Complex Trade’’ for purposes of the
Linkage Plan, which provides an
exception to Trade-Through and
Satisfaction Order liability when the
transaction that caused the TradeThrough was the result of a ‘‘Complex
Trade.’’ 9
Specifically, the Exchange proposes
first to modify the portion of the
definition of ‘‘Complex Trade’’ that
deals with ratio spreads to mean the
execution of an order in an options
series in conjunction with the execution
of one or more related orders(s) in
different options series in the same
underlying security occurring at or near
the same time in a ratio that is equal to
or greater than one-to-three (.333) and
less than or equal to three-to-one (3.0)
and for the purpose of executing a
particular investment strategy.
Secondly, the Exchange proposes to
include a certain limited type of
8 See Securities Exchange Act Release No. 56555
(September 27, 2007) (File Nos. SR–Amex–2007–65;
SR–BSE–2007–45; SR–CBOE–2007–64; SR–ISE–
2007–44; and SR–NYSEArca–2007–65).
9 See Phlx Rule 1085(b)(7). The Exchange notes
that the other Participants in the Linkage Plan have
filed proposed rule changes to adopt the same
definition of ‘‘Complex Trade.’’ See supra, note 8.
E:\FR\FM\11OCN1.SGM
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57986
Federal Register / Vol. 72, No. 196 / Thursday, October 11, 2007 / Notices
synthetic option order in the definition
of Complex Trade to afford an exception
from Trade-Through liability in the case
of the execution of a synthetic option
order 10 to buy or sell a stated number
of units of an underlying stock or a
security convertible into the underlying
stock (‘‘convertible security’’), coupled
with the purchase or sale of option
contract(s) on the opposite side of the
market representing either (A) the same
number of units of the underlying stock
or convertible security; or (B) the
number of units of the underlying stock
or convertible security necessary to
create a delta neutral position, but in no
case in a ratio greater than eight (8)
option contracts per unit of trading of
the underlying stock or convertible
security established for that series by
the Clearing Corporation.
The Exchange believes that the
proposed rule change should provide
consistency in the Exchange’s rules with
rules proposed by the other Linkage
Plan Participants.
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
modernizing the Exchange’s rules.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange believes that the
proposed rule change will 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 either
solicited or received.
rwilkins on PROD1PC63 with NOTICES
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)
10 The proposed text of Phlx Rule 1083(c)(ii)
refers to ‘‘stock-option orders’’ as synonymous with
‘‘synthetic option orders’’ in order to be consistent
with the definitions proposed by the other Linkage
Plan Participants.
11 15 U.S.C. 78f(b).
12 15 U.S.C. 78f(b)(5).
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16:09 Oct 10, 2007
Jkt 214001
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 Phlx 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
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–Phlx–2007–40 on the
subject line.
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–Phlx–2007–40 and should
be submitted on or before November 1,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.13
Nancy M. Morris,
Secretary.
[FR Doc. E7–19937 Filed 10–10–07; 8:45 am]
BILLING CODE 8011–01–P
SMALL BUSINESS ADMINISTRATION
[Disaster Declaration # 11055 and # 11056]
Texas Disaster # TX–00265
U.S. Small Business
Administration.
ACTION: Notice.
AGENCY:
SUMMARY: This is a Notice of the
Presidential declaration of a major
disaster for the State of Texas (FEMA–
1730–DR), dated 10/02/2007.
Incident: Tropical Storm Erin.
Paper Comments
Incident Period: 08/14/2007 through
• Send paper comments in triplicate
08/20/2007.
to Nancy M. Morris, Secretary,
Effective Date: 10/02/2007.
Securities and Exchange Commission,
Physical Damage Loan Application
100 F Street, NE., Washington, DC
Deadline Date: 12/03/2007.
20549–1090.
Economic Injury (EIDL) Loan
All submissions should refer to File
Application Deadline Date: 07/02/2008.
Number SR–Phlx–2007–40. This file
ADDRESSES: Submit completed loan
number should be included on the
subject line if e-mail is used. To help the applications to: U.S. Small Business
Administration, Processing and
Commission process and review your
Disbursement Center, 14925 Kingsport
comments more efficiently, please use
only one method. The Commission will Road, Fort Worth, TX 76155.
post all comments on the Commission’s FOR FURTHER INFORMATION CONTACT: A.
Escobar, Office of Disaster Assistance,
Internet Web site (http://www.sec.gov/
U.S. Small Business Administration,
rules/sro.shtml). Copies of the
409 3rd Street, SW., Suite 6050,
submission, all subsequent
Washington, DC 20416.
amendments, all written statements
with respect to the proposed rule
SUPPLEMENTARY INFORMATION: Notice is
change that are filed with the
hereby given that as a result of the
Commission, and all written
President’s major disaster declaration on
communications relating to the
10/02/2007, applications for disaster
proposed rule change between the
loans may be filed at the address listed
Commission and any person, other than above or other locally announced
those that may be withheld from the
locations. The following areas have been
public in accordance with the
determined to be adversely affected by
provisions of 5 U.S.C. 552, will be
the disaster:
available for inspection and copying in
Primary Counties (Physical Damage and
the Commission’s Public Reference
Economic Injury Loans): Bexar:
Room, 100 F Street, NE., Washington,
Harris, Jones, Kendall, Medina,
DC 20549, on official business days
Taylor.
between the hours of 10 am and 3 pm.
Contiguous Counties (Economic Injury
Copies of the filing also will be available
Loans Only):
for inspection and copying at the
Texas: Atascosa, Bandera, Blanco,
principal office of the Phlx. All
Brazoria, Callahan, Chambers,
comments received will be posted
Coleman, Comal, Fisher, Fort Bend,
without change; the Commission does
Frio, Galveston, Gillespie,
not edit personal identifying
13 17 CFR 200.30–3(a)(12).
information from submissions. You
PO 00000
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Fmt 4703
Sfmt 4703
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Agencies
[Federal Register Volume 72, Number 196 (Thursday, October 11, 2007)]
[Notices]
[Pages 57985-57986]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-19937]
[[Page 57985]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56608; File No. SR-Phlx-2007-40]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing of Proposed Rule Change, as Modified by Amendment No.
3, Relating to the Definition of ``Complex Trade''
October 3, 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 May 21, 2007, the Philadelphia Stock Exchange, Inc. (``Phlx'' 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
Phlx. The Exchange filed Amendment No. 1 to the proposal on September
4, 2007, and withdrew Amendment No. 1 on October 1, 2007. The Exchange
filed Amendment Nos. 2 and 3 to the proposal on October 1, 2007, and
withdrew Amendment No. 2 on the same day.\3\ The Commission is
publishing this notice to solicit comments on the proposed rule change,
as modified by Amendment No. 3, from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Amendment No. 3 replaces and supersedes the previously filed
proposed rule change in its entirety.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Phlx proposes to amend Phlx Rule 1066, ``Certain Types of
Orders Defined,'' to revise the definition of ``synthetic option,'' and
to amend Phlx Rule 1083(c) to change the definition of ``Complex
Trade'' as it relates to the Plan for the Purpose of Creating and
Operating an Intermarket Option Linkage (the ``Linkage Plan'').\4\
---------------------------------------------------------------------------
\4\ On July 28, 2000, the Commission approved a national market
system plan for the purpose of creating and operating the Linkage
proposed by the American Stock Exchange LLC, Chicago Board Options
Exchange, Incorporated, and International Securities Exchange, LLC
(``ISE''). See Securities Exchange Act Release No. 43086 (July 28,
2000), 65 FR 48023 (August 4, 2000). Subsequently, Phlx, Pacific
Exchange, Inc. (n/k/a NYSE Arca, Inc.), and Boston Stock Exchange,
Inc. joined the Linkage Plan. See Securities Exchange Act Release
Nos. 43573 (November 16, 2000), 65 FR 70851 (November 28, 2000);
43574 (November 16, 2000), 65 FR 70850 (November 28, 2000); and
49198 (February 5, 2004), 69 FR 7029 (February 12, 2004).
---------------------------------------------------------------------------
The text of the proposed rule change is available at Phlx, the
Commission's Public Reference Room, and http://www.phlx.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 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, first, to amend Phlx
Rule 1066(g) by adopting a new definition of ``synthetic option order''
to address strategies for synthetic option orders that often require a
delta neutral position among the various components of the synthetic
option order instead of the current requirement that such components
offset one another on a one-for-one basis. The proposed definition is
consistent with the definition of ``stock-option order'' adopted by
other U.S. options exchanges.\5\ A further purpose of the proposed rule
change is to add a certain type of synthetic option order (as described
more fully below) to the definition of ``Complex Trade'' in Phlx Rule
1083 so that such an order that resulted in a Trade-Through \6\ would
qualify for an exception to Trade-Through and Satisfaction Order \7\
liability under the Exchange's Rules and for purposes of the Linkage
Plan. The proposed changes to the definition of ``Complex Trade'' in
Phlx Rule 1083 conform the Phlx's proposed definition of ``Complex
Trade'' to the revised definition proposed by other Linkage Plan
Participants.\8\
---------------------------------------------------------------------------
\5\ See, e.g., ISE Rule 722(a)(5)(i).
\6\ ``Trade-Through'' means a transaction in an options series
at a price that is inferior to the National Best Bid or Offer
(``NBBO''), but shall not include a transaction that occurs at a
price that is one minimum quoting increment inferior to the NBBO
provided a Linkage Order is contemporaneously sent to each
Participant Exchange disseminating the NBBO for the full size of the
Participant Exchange's bid (offer) that represents the NBBO. See
Phlx Rule 1083(t).
\7\ A Satisfaction Order is an order sent through the Linkage to
notify a member of another Participant Exchange of a Trade-Through
and to seek satisfaction of the liability arising from that Trade-
Through. See Phlx Rule 1083(k)(iii).
\8\ See Securities Exchange Act Release No. 56555 (September 27,
2007) (File Nos. SR-Amex-2007-65; SR-BSE-2007-45; SR-CBOE-2007-64;
SR-ISE-2007-44; and SR-NYSEArca-2007-65).
---------------------------------------------------------------------------
Synthetic Option Order
Currently, Rule 1066(g), ``Synthetic Option,'' defines a
``synthetic option order'' as an order to buy or sell a stated number
of option contracts and buy or sell the underlying stock or Exchange-
Traded Fund Share in an amount that would offset (on a one-for-one
basis) the option position.
The proposed rule change would re-define ``synthetic option order''
to mean an order to buy or sell a stated number of units of an
underlying stock or a security convertible into the underlying stock
(``convertible security'') coupled with either (i) the purchase or sale
of option contract(s) on the opposite side of the market representing
either the same number of units of the underlying stock or convertible
security or the number of units of the underlying stock or convertible
security necessary to create a delta neutral position; or (ii) the
purchase or sale of an equal number of put and call option contracts,
each having the same exercise price, expiration date, and each
representing the same number of units of stock as, and on the opposite
side of the market from, the stock or convertible security portion of
the order.
Complex Trade
The proposal would also amend Phlx Rule 1083 to revise the
definition of ``Complex Trade'' for purposes of the Linkage Plan, which
provides an exception to Trade-Through and Satisfaction Order liability
when the transaction that caused the Trade-Through was the result of a
``Complex Trade.'' \9\
---------------------------------------------------------------------------
\9\ See Phlx Rule 1085(b)(7). The Exchange notes that the other
Participants in the Linkage Plan have filed proposed rule changes to
adopt the same definition of ``Complex Trade.'' See supra, note 8.
---------------------------------------------------------------------------
Specifically, the Exchange proposes first to modify the portion of
the definition of ``Complex Trade'' that deals with ratio spreads to
mean the execution of an order in an options series in conjunction with
the execution of one or more related orders(s) in different options
series in the same underlying security occurring at or near the same
time in a ratio that is equal to or greater than one-to-three (.333)
and less than or equal to three-to-one (3.0) and for the purpose of
executing a particular investment strategy.
Secondly, the Exchange proposes to include a certain limited type
of
[[Page 57986]]
synthetic option order in the definition of Complex Trade to afford an
exception from Trade-Through liability in the case of the execution of
a synthetic option order \10\ to buy or sell a stated number of units
of an underlying stock or a security convertible into the underlying
stock (``convertible security''), coupled with the purchase or sale of
option contract(s) on the opposite side of the market representing
either (A) the same number of units of the underlying stock or
convertible security; or (B) the number of units of the underlying
stock or convertible security necessary to create a delta neutral
position, but in no case in a ratio greater than eight (8) option
contracts per unit of trading of the underlying stock or convertible
security established for that series by the Clearing Corporation.
---------------------------------------------------------------------------
\10\ The proposed text of Phlx Rule 1083(c)(ii) refers to
``stock-option orders'' as synonymous with ``synthetic option
orders'' in order to be consistent with the definitions proposed by
the other Linkage Plan Participants.
---------------------------------------------------------------------------
The Exchange believes that the proposed rule change should provide
consistency in the Exchange's rules with rules proposed by the other
Linkage Plan Participants.
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 modernizing the Exchange's rules.
---------------------------------------------------------------------------
\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 believes that the proposed rule change will 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 either solicited or received.
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 Phlx 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
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-2007-40 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-2007-40. 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
am and 3 pm. 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-2007-40 and should be submitted on
or before November 1, 2007.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E7-19937 Filed 10-10-07; 8:45 am]
BILLING CODE 8011-01-P