Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Relating to a New Book Feed Product, 57980-57982 [E7-20024]

Download as PDF 57980 Federal Register / Vol. 72, No. 196 / Thursday, October 11, 2007 / Notices Faith Based and Community Initiatives. Effective August 13, 2007. DHGS60049 Senior Advisor to the Assistant Secretary, Health. Effective August 14, 2007. DHGS60014 Director (Office of Document and Regulations Management) to the Executive Secretary to the Department. Effective August 28, 2007. DHGS60063 Confidential Assistant to the Director of Public Affairs. Effective August 28, 2007. DHGS60681 Confidential Assistant to the Director of Media Affairs. Effective August 28, 2007. DHGS60064 Special Assistant to the Assistant Secretary for Children and Families. Effective August 30, 2007. DHGS60527 Confidential Assistant (Scheduling) to the Director of Scheduling. Effective August 30, 2007. Section 213.3317 Education Department of DBGS00629 Confidential Assistant to the Special Assistant. Effective August 1, 2007. DBGS00633 Confidential Assistant to the Assistant Secretary, Office of Communications and Outreach. Effective August 8, 2007. DBGS00630 Special Assistant to the Chief of Staff. Effective August 9, 2007. DBGS00631 Special Assistant to the Deputy Assistant Secretary. Effective August 14, 2007. DBGS00634 Confidential Assistant to the General Counsel. Effective August 16, 2007. DBGS00624 Confidential Assistant to the Assistant Secretary for Postsecondary Education. Effective August 17, 2007. DBGS00632 Deputy Assistant Secretary for External Affairs and Outreach Services to the Assistant Secretary, Office of Communications and Outreach. Effective August 17, 2007. DBGS00635 Special Assistant to the Chief of Staff. Effective August 28, 2007. DBGS00640 Deputy Secretary’s Regional Representative to the Assistant Secretary, Office of Communications and Outreach. Effective August 30, 2007. rwilkins on PROD1PC63 with NOTICES Section 213.3318 Environmental Protection Agency EPGS07017 Program Manager (Operations) to the Deputy Chief of Staff (Operations). Effective August 1, 2007. EPGS06036 Supervisory Public Affairs Specialist to the Associate VerDate Aug<31>2005 16:09 Oct 10, 2007 Jkt 214001 Administrator for Public Affairs. Effective August 9, 2007. EPGS07019 Program Advisor to the Associate Administrator for Public Affairs. Effective August 9, 2007. Section 213.3330 Securities and Exchange Commission SEOT60103 Legislative and Intergovernmental Affairs Specialist to the Director of Legislative Affairs. Effective August 16, 2007. Section 213.3331 Energy Department of DEGS00605 Senior Policy Advisor to the Assistant Secretary for Fossil Energy. Effective August 6, 2007. DEGS00608 Special Assistant to the Chief Financial Officer. Effective August 17, 2007. DEGS00610 Assistant Press Secretary to the Director, Public Affairs. Effective August 28, 2007. DEGS00609 Special Assistant to the Director, Office of Electricity Delivery and Energy Reliability. Effective August 30, 2007. DEGS00611 Policy Advisor to the Deputy Assistant Secretary. Effective August 30, 2007. DEGS00615 Special Assistant to the Deputy Director, Permitting, Siting and Analysis Division. Effective August 31, 2007. Section 213.3332 Administration General Services GSGS60078 Special Assistant to the Regional Administrator National Capital Region. Effective August 7, 2007. GSGS60120 Senior Communications Advisor to the Deputy Associate Administrator for Communications. Effective August 21, 2007. GSGS60121 Chief of Staff to the Chief Acquisition Officer. Effective August 21, 2007. GSGS60117 Senior Advisor to the Associate Administrator for Citizen Services and Communications. Effective August 24, 2007. Section 213.3348 National Aeronautics and Space Administration NNGS00200 Executive Assistant to the Chief of Staff. Effective August 13, 2007. PO 00000 Frm 00072 Social Security SZGS00019 Senior Advisor to the Deputy Commissioner for Legislation and Congressional Affairs. Effective August 9, 2007. Section 213.3373 Trade and Development Agency TDGS60001 Executive Assistant to the Director. Effective August 23, 2007. Section 213.3379 Commodity Futures Trading Commission CTOT00091 Chief Economist to the Chairperson. Effective August 31, 2007. Section 213.3394 Transportation Department of DTGS60341 Associate Director for Governmental Affairs to the Deputy Assistant Secretary for Governmental Affairs. Effective August 1, 2007. DTGS60373 Director of Governmental Affairs to the Administrator. Effective August 30, 2007. Authority: 5 U.S.C. 3301 and 3302; E.O. 10577, 3 CFR 1954–1958 Comp., p. 218. U.S. Office of Personnel Management. Howard Weizmann, Deputy Director. [FR Doc. 07–5016 Filed 10–10–07; 8:45 am] BILLING CODE 6325–39–M Small Business SBGS00618 Special Assistant to the National Ombudsman and Assistant Administrator for Regulatory Enforcement Fairness. Effective August 7, 2007. Section 213.3337 Administration Section 213.3355 Administration Fmt 4703 Sfmt 4703 SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56611; File No. SR–CHX– 2007–19] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Relating to a New Book Feed Product October 4, 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 September 27, 2007, the Chicago Stock Exchange, Inc. (‘‘CHX’’ or ‘‘Exchange’’) 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 substantially prepared by the CHX. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 2 17 E:\FR\FM\11OCN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 11OCN1 Federal Register / Vol. 72, No. 196 / Thursday, October 11, 2007 / Notices I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Through this filing, the Exchange proposes to distribute a new Book Feed product and to amend its Fee Schedule to confirm that it will not charge a fee for the distribution of this product. The text of this proposed rule change is available on the Exchange’s Web site at http://www.chx.com/rules/ proposed_rules.htm, at the CHX’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, the CHX included statements concerning the purpose of and basis for the proposed rule changes and discussed any comments it received regarding the proposal. The text of these statements may be examined at the places specified in Item IV below. The CHX 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 rwilkins on PROD1PC63 with NOTICES 1. Purpose Through this filing, the Exchange proposes to distribute a new Book Feed product and to amend its Fee Schedule to confirm that it will not charge a fee for the distribution of this product.3 This product currently is slated to be available on or before October 31, 2007. Through the Book Feed, the Exchange would disseminate a real-time stream of data that includes, among other things, all visible orders submitted to the Exchange’s Matching System, as well as any changes to those orders.4 The Book Feed would also contain information about trades that occur on the Exchange. This data would be available to any person or entity, either through a direct feed from the Exchange or through a company or vendor that provides the data to others.5 The Book Feed would 3 The Exchange does not currently plan to charge a fee for the distribution of this data, but may choose to do so in the future. Any decision to charge a fee for the Book Feed data would be reflected in a filing submitted to the Commission as required by Rule 19b–4 of the Act. 4 Undisplayed orders and the undisplayed portions of reserve size orders would not be disseminated through the Book Feed; however, any odd lot orders (which are not expressly identified as ‘‘undisplayed’’) would be disseminated through the Book Feed. 5 Each person or entity that requests the data directly from the Exchange would be required to VerDate Aug<31>2005 16:09 Oct 10, 2007 Jkt 214001 include basic information about each order, including the size and price of the order; whether it was an order to buy or sell; its time of receipt; and the identity of the participant firm that submitted the order.6 The Exchange believes that, by making this Book Feed available, it would enhance market transparency and foster competition among markets.7 Other self-regulatory organizations currently distribute similar data feeds.8 2. Statutory Basis The CHX believes the proposal is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of section 6(b).9 The proposed rule change is consistent with section 6(b)(4) of the Act in that it provides for the equitable allocation of reasonable dues, fees and other charges among its members. The proposed rule change is consistent with section 6(b)(5) of the Act because it would promote just and equitable principles of trade, remove impediments to, and perfect the mechanism of, a free and open market and a national market system, and, in general, protect investors and the public sign an appropriate agreement with the Exchange; if the recipient of the data (the ‘‘vendor’’) disseminates the data to another person or entity (the ‘‘subscriber’’), the subscriber would be required to sign a subscriber agreement with the vendor. Each of these agreements would contain provisions substantially similar to those used by the securities information processors for the distribution of market data. 6 A participant firm could choose, either on a firm-wide or order-by-order basis, to have its identity kept confidential in the order information that is distributed in the Book Feed. The Exchange plans to have the ability to remove a participant firm’s identity on the data, at the firm’s request, on or before October 31, 2007; alternatively, beginning on or about November 15, 2007, the firm could append a special indicator to the order confirming its choice to remain anonymous in the Book Feed. 7 Within the Exchange’s systems, the data that would be disseminated as part of the Book Feed would leave the Matching System immediately following the best bids, offers and last sales that are being sent to the securities information processors (‘‘SIPs’’). The Exchange would not use any technology that is designed to make the Book Feed data available from the Matching System earlier than the best bids, offers and last sales are available to the SIPs. 8 See filings relating to the New York Stock Exchange’s OpenBook service (including Securities Exchange Act Release Nos. 44138 (December 7, 2001), 66 FR 64895 (December 14, 2001) and 53585 (March 31, 2006), 71 FR 17934 (April 7, 2006)); NYSE Arca’s ArcaBook data, Securities Exchange Act Release No. 54597 (October 12, 2006), 71 FR 62029 (October 20, 2006) (confirming that the ArcaBook data currently is disseminated without charge); and the Philadelphia Stock Exchange’s data display in its new XLE system, Securities Exchange Act Release No. 54538 (September 28, 2006), 71 FR 59184 (October 6, 2006). 9 15 U.S.C. 78(f)(b). PO 00000 Frm 00073 Fmt 4703 Sfmt 4703 57981 interest by allowing the Exchange distribute a Book Feed much like those already distributed by other markets. B. Self-Regulatory Organization’s Statement on Burden on Competition CHX 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 neither solicited nor received comments on the proposal. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing rule 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 if consistent with the protection of investors and the public interest, provided that the Exchange has given the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change or such shorter time as designated by the Commission,10 the proposed rule change has become effective pursuant to section 19(b)(3)(A) of the Act 11 and Rule 19b–4(f)(6) thereunder.12 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–CHX–2007–19 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 10 The Exchange has fulfilled this requirement. U.S.C. 78s(b)(3)(A). 12 17 CFR 240.19b–4(f)(6). 11 15 E:\FR\FM\11OCN1.SGM 11OCN1 57982 Federal Register / Vol. 72, No. 196 / Thursday, October 11, 2007 / Notices 100 F Street, NE., Washington, DC 20549–1090. SECURITIES AND EXCHANGE COMMISSION All submissions should refer to File Number SR–CHX–2007–19. 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 a.m. and 3 p.m.. Copies of such filing also will be available for inspection and copying at the principal office of the CHX. 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–CHX–2007–19 and should be submitted on or before November 1, 2007. [Release No. 34–56606; File No. SR– NYSEArca–2007–69] For the Commission, by the Division of Market Regulation, pursuant to delegated authority.13 Nancy M. Morris, Secretary. [FR Doc. E7–20024 Filed 10–10–07; 8:45 am] rwilkins on PROD1PC63 with NOTICES BILLING CODE 8011–01–P 13 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 16:09 Oct 10, 2007 Jkt 214001 Self-Regulatory Organizations; NYSE Arca, Inc.; Order Granting Accelerated Approval of Proposed Rule Change, as Modified by Amendment No. 1, and Notice of Filing of Amendment No. 1 Thereto Relating to Adoption of Revised Initial and Continued Listing Standards for the Pilot Program Expiring on November 30, 2007 October 3, 2007. I. Introduction On July 23, 2007, NYSE Arca, Inc. (‘‘NYSE Arca’’ 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 its initial and continued listing standards for the listing of common stock under a pilot program expiring on November 30, 2007 (‘‘Pilot Program’’).3 The proposed rule change was published for comment in the Federal Register on August 16, 2007.4 The Commission received no comments on the proposal. On September 27, 2007, NYSE Arca filed Partial Amendment No. 1 to the proposed rule change.5 This order approves the proposed rule change, as modified by Amendment No. 1, on an accelerated basis, and provides notice of filing of Amendment No. 1. II. Description of the Proposal NYSE Arca proposes to amend its initial and continued listing standards under the Pilot Program. According to the Exchange, based on its experience in 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 The Commission initially approved the Pilot Program for six months, until May 29, 2007. See Securities Exchange Act Release No. 54796 (November 20, 2006), 71 FR 69166 (November 29, 2006) (SR–NYSEArca–2006–85). The Pilot Program was subsequently extended for an additional six months, until November 30, 2007. See Securities Exchange Act Release No. 55838 (May 31, 2007), 72 FR 31642 (June 7, 2007) (SR–NYSEArca–2007–51). 4 See Securities Exchange Act Release No. 56232 (August 9, 2007), 72 FR 46119. 5 In Partial Amendment No. 1, NYSE Arca (i) Indicates that it is the Exchange’s current practice to require, in the case of initial public offerings, at least $5 per share, based on the initial public offering price; (ii) codifies the Exchange’s current practice of requiring at least $5 per share for initial public offerings; (iii) describes the Exchange’s process to verify compliance with the initial listing requirements; and (iv) clarifies that the Exchange is amending the closing price per share for currently listed issuers by requiring them to meet the price for at least 90 consecutive trading days prior to applying for listing. 2 17 PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 the initial six-month period of the Pilot Program, the Exchange concluded that the listing standards would qualify many companies for listing that are much smaller than the minimum size it wishes to include in its target market. NYSE Arca further noted that the proposed amended initial listing standard would exclude from qualification some companies that currently qualify to list but whose size or financial performance is not consistent with that of the kind of issuer NYSE Arca intends to list. A. Initial Listing Standards The current NYSE Arca listing standards require for initial listing that, at the time of initial listing, the listed class of common stock shall have: 6 At least 1.1 million publicly held shares. A closing price per share of $5 or more.7 A minimum of 400 round lot shareholders. In addition, the requirements of one of Standards One, Two, or Three below must be met: Standard One The issuer of the security had annual income from continuing operations before income taxes of at least $1 million in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. The market value of publicly held shares is at least $8 million. The issuer of the security has stockholders’ equity of at least $15 million. Standard Two The issuer of the security has stockholders’ equity of at least $30 million. The market value of publicly held shares is at least $18 million. The issuer has a two-year operating history. Standard Three The market value of publicly held shares is at least $20 million. The issuer has: A market value of listed securities of at least $75 million (currently traded issuers must meet this requirement and the $5 closing price requirement for 90 consecutive trading days prior to applying for listing); or Total assets and total revenue of at least $75 million each for the most 6 See NYSE Arca Equities Rule 5.2(c). the case of initial public offerings, the Exchange represents that it interprets the provision as requiring an initial public offering price of $5 per share or more. See Partial Amendment No. 1, supra note 5. 7 In E:\FR\FM\11OCN1.SGM 11OCN1

Agencies

[Federal Register Volume 72, Number 196 (Thursday, October 11, 2007)]
[Notices]
[Pages 57980-57982]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-20024]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56611; File No. SR-CHX-2007-19]


Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Relating 
to a New Book Feed Product

October 4, 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 September 27, 2007, the Chicago Stock Exchange, Inc. (``CHX'' or 
``Exchange'') 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 substantially prepared by the CHX. 
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.

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[[Page 57981]]

I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    Through this filing, the Exchange proposes to distribute a new Book 
Feed product and to amend its Fee Schedule to confirm that it will not 
charge a fee for the distribution of this product. The text of this 
proposed rule change is available on the Exchange's Web site at http://
www.chx.com/rules/proposed_rules.htm, at the CHX'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, the CHX included statements 
concerning the purpose of and basis for the proposed rule changes and 
discussed any comments it received regarding the proposal. The text of 
these statements may be examined at the places specified in Item IV 
below. The CHX 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
    Through this filing, the Exchange proposes to distribute a new Book 
Feed product and to amend its Fee Schedule to confirm that it will not 
charge a fee for the distribution of this product.\3\ This product 
currently is slated to be available on or before October 31, 2007.
---------------------------------------------------------------------------

    \3\ The Exchange does not currently plan to charge a fee for the 
distribution of this data, but may choose to do so in the future. 
Any decision to charge a fee for the Book Feed data would be 
reflected in a filing submitted to the Commission as required by 
Rule 19b-4 of the Act.
---------------------------------------------------------------------------

    Through the Book Feed, the Exchange would disseminate a real-time 
stream of data that includes, among other things, all visible orders 
submitted to the Exchange's Matching System, as well as any changes to 
those orders.\4\ The Book Feed would also contain information about 
trades that occur on the Exchange. This data would be available to any 
person or entity, either through a direct feed from the Exchange or 
through a company or vendor that provides the data to others.\5\ The 
Book Feed would include basic information about each order, including 
the size and price of the order; whether it was an order to buy or 
sell; its time of receipt; and the identity of the participant firm 
that submitted the order.\6\
---------------------------------------------------------------------------

    \4\ Undisplayed orders and the undisplayed portions of reserve 
size orders would not be disseminated through the Book Feed; 
however, any odd lot orders (which are not expressly identified as 
``undisplayed'') would be disseminated through the Book Feed.
    \5\ Each person or entity that requests the data directly from 
the Exchange would be required to sign an appropriate agreement with 
the Exchange; if the recipient of the data (the ``vendor'') 
disseminates the data to another person or entity (the 
``subscriber''), the subscriber would be required to sign a 
subscriber agreement with the vendor. Each of these agreements would 
contain provisions substantially similar to those used by the 
securities information processors for the distribution of market 
data.
    \6\ A participant firm could choose, either on a firm-wide or 
order-by-order basis, to have its identity kept confidential in the 
order information that is distributed in the Book Feed. The Exchange 
plans to have the ability to remove a participant firm's identity on 
the data, at the firm's request, on or before October 31, 2007; 
alternatively, beginning on or about November 15, 2007, the firm 
could append a special indicator to the order confirming its choice 
to remain anonymous in the Book Feed.
---------------------------------------------------------------------------

    The Exchange believes that, by making this Book Feed available, it 
would enhance market transparency and foster competition among 
markets.\7\ Other self-regulatory organizations currently distribute 
similar data feeds.\8\
---------------------------------------------------------------------------

    \7\ Within the Exchange's systems, the data that would be 
disseminated as part of the Book Feed would leave the Matching 
System immediately following the best bids, offers and last sales 
that are being sent to the securities information processors 
(``SIPs''). The Exchange would not use any technology that is 
designed to make the Book Feed data available from the Matching 
System earlier than the best bids, offers and last sales are 
available to the SIPs.
    \8\ See filings relating to the New York Stock Exchange's 
OpenBook service (including Securities Exchange Act Release Nos. 
44138 (December 7, 2001), 66 FR 64895 (December 14, 2001) and 53585 
(March 31, 2006), 71 FR 17934 (April 7, 2006)); NYSE Arca's ArcaBook 
data, Securities Exchange Act Release No. 54597 (October 12, 2006), 
71 FR 62029 (October 20, 2006) (confirming that the ArcaBook data 
currently is disseminated without charge); and the Philadelphia 
Stock Exchange's data display in its new XLE system, Securities 
Exchange Act Release No. 54538 (September 28, 2006), 71 FR 59184 
(October 6, 2006).
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2. Statutory Basis
    The CHX believes the proposal is consistent with the requirements 
of the Act and the rules and regulations thereunder that are applicable 
to a national securities exchange, and, in particular, with the 
requirements of section 6(b).\9\ The proposed rule change is consistent 
with section 6(b)(4) of the Act in that it provides for the equitable 
allocation of reasonable dues, fees and other charges among its 
members. The proposed rule change is consistent with section 6(b)(5) of 
the Act because it would promote just and equitable principles of 
trade, remove impediments to, and perfect the mechanism of, a free and 
open market and a national market system, and, in general, protect 
investors and the public interest by allowing the Exchange distribute a 
Book Feed much like those already distributed by other markets.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78(f)(b).
---------------------------------------------------------------------------

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

    CHX 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 neither solicited nor received comments on the 
proposal.

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

    Because the foregoing rule 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 if consistent with the protection of investors 
and the public interest, provided that the Exchange has given the 
Commission written notice of its intent to file the proposed rule 
change at least five business days prior to the date of filing of the 
proposed rule change or such shorter time as designated by the 
Commission,\10\ the proposed rule change has become effective pursuant 
to section 19(b)(3)(A) of the Act \11\ and Rule 19b-4(f)(6) 
thereunder.\12\
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    \10\ The Exchange has fulfilled this requirement.
    \11\ 15 U.S.C. 78s(b)(3)(A).
    \12\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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-CHX-2007-19 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission,

[[Page 57982]]

100 F Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-CHX-2007-19. 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 
a.m. and 3 p.m.. Copies of such filing also will be available for 
inspection and copying at the principal office of the CHX. 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-CHX-2007-19 and should be 
submitted on or before November 1, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\13\
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    \13\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E7-20024 Filed 10-10-07; 8:45 am]
BILLING CODE 8011-01-P