Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Fee Changes, 61697-61699 [E7-21386]
Download as PDF
<![CDATA[
Federal Register / Vol. 72, No. 210 / Wednesday, October 31, 2007 / Notices
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Under the Exchange’s existing rules,
odd lot orders execute in the Matching
System without regard to the protected
quotations of other markets.5 The
Exchange states that this is because such
orders are not subject to the Regulation
NMS Order Protection Rule and can
trade through better prices in other
markets.6 Through this filing, the
Exchange proposes to amend its rules to
provide that market odd lot orders
would execute like round lot orders
(i.e., they would execute as if they were
subject to the Regulation NMS Order
Protection Rule), while odd lot limit
orders and odd lot crosses would
continue to execute through better
prices on other markets.7
The Exchange believes that this
proposal will provide appropriate
protections to odd lot market orders,
while allowing participants to choose to
have odd lot limit orders and odd lot
crosses executed at other prices.8
2. Statutory Basis
The Exchange believes that 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). The
proposed rule change is consistent with
Section 6(b)(5) of the Act 9 because it
rwilkins on PROD1PC63 with NOTICES
5 See
CHX Rules, Article 20, Rule 5(b).
6 The Exchange states that its handling of the
execution of odd lot orders is consistent with the
requirements of Regulation NMS. See Division of
Market Regulation: Responses to Frequently Asked
Questions Concerning Rule 611 and Rule 610 of
Regulation NMS, FAQ 7.03 (confirming that Rule
611 does not apply to odd lot orders).
7 The Exchange believes that a participant that
submits an odd lot cross seeks to have that order
executed at a particular price, without regard to
prices in other markets. Similarly, if a participant
submits an odd lot limit order, that participant
likely only seeks the protection of the order’s limit
price and does not anticipate that the order would
be protected against better prices in other markets.
8 Odd lot market orders that would trade through
the protected quotations of other markets would be
rejected from the Exchange’s Matching System and
either routed to another appropriate market or, if
designated as ‘‘do not route,’’ automatically
cancelled. See CHX Rules, Article 20, Rule 5(a).
9 15 U.S.C. 78f(b)(5).
VerDate Aug<31>2005
17:45 Oct 30, 2007
Jkt 214001
would promote just and equitable
principles of trade, remove
impediments to, and protect the
mechanism of, a free and open market
and a national market system, and, in
general, protect investors and the public
interest by allowing market odd lot
orders to be executed like round lot
orders in the Exchange’s Matching
System.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition.
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 the self-regulatory
organization 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
61697
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 the Exchange. 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–2007–22 and should
be submitted on or before November 21,
2007.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.10
Nancy M. Morris,
Secretary.
[FR Doc. E7–21384 Filed 10–30–07; 8:45 am]
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:
BILLING CODE 8011–01–P
Electronic Comments
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Relating to Fee Changes
• 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–CHX–2007–22 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–CHX–2007–22. This file
PO 00000
Frm 00092
Fmt 4703
Sfmt 4703
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56699; File No. SR–ISE–
2007–100]
October 24, 2007.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on October
17, 2007, the International Securities
Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
15
E:\FR\FM\31OCN1.SGM
31OCN1
61698
Federal Register / Vol. 72, No. 210 / Wednesday, October 31, 2007 / Notices
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I, II, and III below, which Items
have been substantially prepared by the
ISE. The ISE has designated this
proposal as one establishing or changing
a due, fee, or other charge applicable
only to a member under Section
19(b)(3)(A)(ii) of the Act,3 and Rule
19b–4(f)(2) thereunder,4 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 ISE proposes to amend its
Schedule of Fees to reflect the
expiration of fee waivers related to
foreign currency options traded on the
Exchange. The text of the proposed rule
change is available at the Exchange, the
Commission’s Public Reference Room,
and at https://www.ise.com.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
ISE 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 ISE 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 this proposed rule
change is to amend the ISE Schedule of
Fees to reflect the expiration of fee
waivers related to foreign currency
options traded on the Exchange, referred
to in the Schedule of Fees as ‘‘FX
options.’’ The Exchange adopted certain
fee waivers related to FX options on
April 17, 2007,5 which is the day the
Exchange began trading in FX options.6
In order to promote trading in FX
options, for a three month period
rwilkins on PROD1PC63 with NOTICES
3 15
U.S.C. 78s(b)(3)(A)(ii).
CFR 240.19b–4(f)(2).
5 See Securities Exchange Act Release No. 55704
(May 3, 2007), 72 FR 26663 (May 10, 2007).
6 See Securities Exchange Act Release No. 55575
(April 3, 2007), 72 FR 17963 (April 10, 2007) (order
approving the listing and trading of Foreign
Currency Options).
4 17
VerDate Aug<31>2005
18:35 Oct 30, 2007
Jkt 214001
beginning April 17, 2007, the Exchange
waived (1) all transaction fees
applicable to members that trade in FX
options, (2) the monthly access fee
applicable to ISE market makers, and (3)
one API for each class of market maker
in FX options. These fee waivers
expired on October 17, 2007. The
Exchange thus proposes to remove
language related to these fee waivers
from its Schedule of Fees.7
in furtherance of the purposes of the
Act.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
the objectives of Section 6 of the Act,8
in general, and furthers the objectives of
Section 6(b)(4),9 in particular, in that it
is designed to provide for the equitable
allocation of reasonable dues, fees and
other charges among its members and
other persons using its facilities.
Electronic Comments
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
impose any burden on competition that
is not necessary or appropriate in
furtherance of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become
effective pursuant to Section 19(b)(3)(A)
of the Act 10 and Rule 19b–4(f)(2) 11
thereunder because it establishes or
changes a due, fee, or other charge
applicable only to a member. At any
time within 60 days of the filing of such
proposed rule change, the Commission
may summarily abrogate such rule
change if it appears to the Commission
that such action is necessary or
appropriate in the public interest, for
the protection of investors, or otherwise
7 The Exchange will, however, keep certain
exemptions related to foreign currency options fees
in place: (1) FXPMMs will continue to be exempt
from the Minimum Fee applicable to Primary
Market Makers, and (2) FXPMMs and FXCMMs will
continue to be exempt from the Inactivity Fee
applicable to Primary Market Makers and
Competitive Market Makers. See supra, Note 5
(citing to Release No. 34–55704).
8 15 U.S.C. 78f(b).
9 15 U.S.C. 78f(b)(4).
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(2).
PO 00000
Frm 00093
Fmt 4703
Sfmt 4703
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:
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
No. SR–ISE–2007–100 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–ISE–2007–100. 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 the ISE. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–ISE–2007–100 and should
be submitted on or before November 21,
2007.
E:\FR\FM\31OCN1.SGM
31OCN1
Federal Register / Vol. 72, No. 210 / Wednesday, October 31, 2007 / Notices
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.12
Nancy M. Morris,
Secretary.
[FR Doc. E7–21386 Filed 10–30–07; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–56700; File No. SR–Phlx–
2007–78]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change To Amend Article FOURTH of
its Restated Certificate of
Incorporation
October 24, 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 October
5, 2007, the Philadelphia Stock
Exchange, Inc. (‘‘Phlx’’ 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
Exchange pursuant to Section
19(b)(3)(A)(iii) of the Act 3 and Rule
19b–4(f)(3) thereunder.4 The Exchange
has designated this proposal as one
concerned solely with the
administration of the Exchange, 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
rwilkins on PROD1PC63 with NOTICES
Phlx proposes to amend its Restated
Certificate of Incorporation
(‘‘Certificate’’) by modifying the
definition of ‘‘Related Persons’’ in
Article FOURTH. The text of the
proposed rule change is available at the
Exchange, on the Exchange’s Web site at
https://www.phlx.com/exchange/
phlx_rule_fil.html, and at the
Commission’s Public Reference Room.
12 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 15 U.S.C. 78s(b)(3)(A)(iii).
4 17 CFR 240.19b–4(f)(3).
1 15
VerDate Aug<31>2005
18:35 Oct 30, 2007
Jkt 214001
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
Exchange included statements
concerning the purpose of, and basis for
the proposed rule change, and discussed
any comments it received on the
proposed rule change. The text of these
statements may be examined at the
places specified in Item IV below. The
Exchange has prepared summaries, set
forth in Sections A, B, and C below, of
the most significant aspects of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
As discussed further below, the
Exchange represents that the purpose of
the proposed rule change is to amend
the definition of ‘‘Related Persons’’ as it
appears in Article FOURTH of the
Certificate to remove unnecessary
burdens on the flexibility of the
Exchange and its shareholders in
effecting certain types of lawful
fundamental transactions. The Exchange
believes that this should facilitate
appropriate deliberation, discussion,
and activities by the shareholders of the
Exchange in relation to fundamental
transactions and other appropriate
matters, without compromising the
policies underlying the concentration
limits on voting and ownership of
Common Stock of the Exchange
contained in Article FOURTH of the
Certificate.
Article FOURTH of the Certificate
imposes limitations on ownership and
voting by holders of Phlx’s Common
Stock.5 For purposes of applying these
limitations, the holdings of a Phlx
shareholder are combined with those of
the shareholder’s ‘‘Related Persons.’’
Clause (b)(iii)(B) of Article FOURTH
provides, in pertinent part, that:
* * * ‘‘Related Persons’’ shall mean (1)
with respect to any Person,6 all ‘‘affiliates’’
and ‘‘associates’’ of such Person (as such
5 The concentration limits in the Certificate limit
any person, either alone or together with its Related
Person, to (i) owning 40% of the outstanding
Common Stock of the Exchange (20% in the case
of Exchange members), and (ii) exercising voting
rights in respect of more than 20% of the Common
Stock. A waiver by the Board of Governors, subject
to Commission approval, is permitted in certain
cases. See Article FOURTH (b)(iii) and (v).
6 In Article FOURTH (a)(iv), ‘‘Person’’ is defined
as an individual, partnership (general or limited),
joint-stock company, corporation, limited liability
company, trust or unincorporated organization, and
a government or agency or political subdivision
thereof.
PO 00000
Frm 00094
Fmt 4703
Sfmt 4703
61699
terms are defined in Rule 12b–2 under the
Securities Exchange Act of 1934, as amended
(the ‘‘Exchange Act’’)), (2) with respect to any
natural person constituting a ‘‘member’’ (as
such term is defined in the Exchange Act) of
the Corporation, any broker or dealer with
which such member is associated and (3) any
two or more Persons that have any
agreement, arrangement or understanding
(whether or not in writing) to act together for
the purpose of acquiring, holding, voting or
disposing of shares of Common Stock.
(Footnote added).
The Exchange notes that ownership
and voting concentration limits are
intended to ensure that the Exchange’s
management is not beset with conflicts
of interest for the benefit of a small
number of individuals or entities such
that the Exchange cannot meet the
statutory standards for national
securities exchanges set forth in
Sections 6 7 and 19 8 of the Act.9 The
Exchange believes that the ‘‘Related
Persons’’ definition is intended to keep
members and other persons from
evading the numerical limits of holding
shares in multiple affiliates or by having
secret agreements with other
shareholders whereby their ‘‘true’’ level
of ownership, control, or voting power
indirectly exceeds the permitted
percentage limits.
Phlx is of the view that the policy
underlying these restrictions was not
intended to inhibit the Exchange or
shareholders from effecting certain
kinds of fundamental, and otherwise
lawful, transactions, such as effecting an
initial public offering or a merger or
from entering into agreements or
arrangements that are necessary or
directly related to the execution of such
transactions.10
7 15
U.S.C. 78f.
U.S.C. 78s.
9 See Securities Exchange Act Release No. 50699
(November 18, 2004), 69 FR 71126 (December 8,
2004) (proposed SRO governance rulemaking). The
organizational documents of other national
securities exchanges contain similar concentration
limits. See Securities Exchange Act Release Nos.
45803 (April 23, 2002), 67 FR 21306 (April 30,
2002) (SR–ISE–2002–01) (approving the
restructuring of International Securities Exchange,
Inc. from a limited liability company to a
corporation); and 49718 (May 17, 2004), 69 FR
29611 (May 24, 2004) (SR–PCX–2004–08)
(approving the demutualization of the former
Pacific Exchange, Inc.). See also Securities
Exchange Act Release Nos. 49067 (January 13,
2004), 64 FR 2761 (January 21, 2004) (SR–BSE–
2003–19) (approving the operating agreement of the
Boston Options Exchange); and 54399 (September
1, 2006), 71 FR 53728 (September 12, 2006) (SR–
ISE–2006–45) (granting accelerated approval of the
establishment of ISE Stock Exchange, LLC as a
facility of the International Securities Exchange,
Inc.).
10 Indeed, such fundamental transactions have
been consummated, and are currently
contemplated, by other national securities
exchanges. In these cases, charter provisions of
8 15
E:\FR\FM\31OCN1.SGM
Continued
31OCN1
]]>Agencies
[Federal Register Volume 72, Number 210 (Wednesday, October 31, 2007)]
[Notices]
[Pages 61697-61699]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-21386]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-56699; File No. SR-ISE-2007-100]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Relating to Fee Changes
October 24, 2007.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on October 17, 2007, the International Securities Exchange, LLC
(``ISE'' or ``Exchange'') filed with the Securities and Exchange
[[Page 61698]]
Commission (``Commission'') the proposed rule change as described in
Items I, II, and III below, which Items have been substantially
prepared by the ISE. The ISE has designated this proposal as one
establishing or changing a due, fee, or other charge applicable only to
a member under Section 19(b)(3)(A)(ii) of the Act,\3\ and Rule 19b-
4(f)(2) thereunder,\4\ 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\ 5 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 ISE proposes to amend its Schedule of Fees to reflect the
expiration of fee waivers related to foreign currency options traded on
the Exchange. The text of the proposed rule change is available at the
Exchange, the Commission's Public Reference Room, and at https://
www.ise.com.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the ISE 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 ISE 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 this proposed rule change is to amend the ISE
Schedule of Fees to reflect the expiration of fee waivers related to
foreign currency options traded on the Exchange, referred to in the
Schedule of Fees as ``FX options.'' The Exchange adopted certain fee
waivers related to FX options on April 17, 2007,\5\ which is the day
the Exchange began trading in FX options.\6\
---------------------------------------------------------------------------
\5\ See Securities Exchange Act Release No. 55704 (May 3, 2007),
72 FR 26663 (May 10, 2007).
\6\ See Securities Exchange Act Release No. 55575 (April 3,
2007), 72 FR 17963 (April 10, 2007) (order approving the listing and
trading of Foreign Currency Options).
---------------------------------------------------------------------------
In order to promote trading in FX options, for a three month period
beginning April 17, 2007, the Exchange waived (1) all transaction fees
applicable to members that trade in FX options, (2) the monthly access
fee applicable to ISE market makers, and (3) one API for each class of
market maker in FX options. These fee waivers expired on October 17,
2007. The Exchange thus proposes to remove language related to these
fee waivers from its Schedule of Fees.\7\
---------------------------------------------------------------------------
\7\ The Exchange will, however, keep certain exemptions related
to foreign currency options fees in place: (1) FXPMMs will continue
to be exempt from the Minimum Fee applicable to Primary Market
Makers, and (2) FXPMMs and FXCMMs will continue to be exempt from
the Inactivity Fee applicable to Primary Market Makers and
Competitive Market Makers. See supra, Note 5 (citing to Release No.
34-55704).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with the objectives of Section 6 of the Act,\8\ in general, and
furthers the objectives of Section 6(b)(4),\9\ in particular, in that
it is designed to provide for the equitable allocation of reasonable
dues, fees and other charges among its members and other persons using
its facilities.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b).
\9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not impose any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change has become effective pursuant to Section
19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(2) \11\ thereunder
because it establishes or changes a due, fee, or other charge
applicable only to a member. At any time within 60 days of the filing
of such proposed rule change, the Commission may summarily abrogate
such rule change if it appears to the Commission that such action is
necessary or appropriate in the public interest, for the protection of
investors, or otherwise in furtherance of the purposes of the Act.
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 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 No. SR-ISE-2007-100 on the subject line.
Paper Comments
Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, Station Place, 100 F
Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-ISE-2007-100. 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 the ISE. All comments
received will be posted without change; the Commission does not edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-ISE-2007-100 and should be
submitted on or before November 21, 2007.
[[Page 61699]]
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Nancy M. Morris,
Secretary.
[FR Doc. E7-21386 Filed 10-30-07; 8:45 am]
BILLING CODE 8011-01-P
