Joint Industry Plan; Order Approving Joint Amendment No. 23 to the Plan for the Purpose of Creating and Operating an Intermarket Option Linkage To Permit the Use of Linkage Prior to the Opening of Trading, 65113 [E7-22533]

Download as PDF Federal Register / Vol. 72, No. 222 / Monday, November 19, 2007 / Notices do not commingle their securities or use them to finance the broker-dealers’ proprietary business. This rule does not involve the collection of confidential information. Persons should be aware that an agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a current valid control number. Comments should be directed to (i) Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503 or by sending an e-mail to: Alexander_T._Hunt@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, c/o Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: PRA_Mailbox@sec.gov. Comments must be submitted within 30 days of this notice. Dated: November 7, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7–22511 Filed 11–16–07; 8:45 am] Amendment No. 23’’) to the Plan for the Purpose of Creating and Operating an Intermarket Option Linkage (‘‘Linkage Plan’’).3 In Joint Amendment No. 23, the Participants propose to modify section 7(a)(i) of the Linkage Plan to permit trading on Linkage prior to the opening of trading. The proposed Joint Amendment No. 23 was published in the Federal Register on October 12, 2007.4 The Commission received no comments on Joint Amendment No. 23. This order approves Joint Amendment No. 23. II. Description of the Proposed Amendment The Linkage Plan currently does not permit use of Linkage before an exchange opens for trading and disseminates a quotation in an option series. In Joint Amendment No. 23, the Participants proposed to amend section 7(a)(i) of the Linkage Plan to permit the use of Linkage prior to the opening of trading. Specifically, Joint Amendment No. 23 would allow Participants to send Linkage P/A Orders 5 to the Linkage prior to the exchange’s opening. III. Discussion and Commission Findings BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56780; File No. 4–429] Joint Industry Plan; Order Approving Joint Amendment No. 23 to the Plan for the Purpose of Creating and Operating an Intermarket Option Linkage To Permit the Use of Linkage Prior to the Opening of Trading rwilkins on PROD1PC63 with NOTICES November 13, 2007. I. Introduction On September 14, 2007, September 19, 2007, August 29, 2007, August 30, 2007, August 29, 2007, and September 26, 2007, the American Stock Exchange LLC (‘‘Amex’’), the Boston Stock Exchange, Inc. (‘‘BSE’’), the Chicago Board Options Exchange, Incorporated (‘‘CBOE’’), the International Securities Exchange, LLC (‘‘ISE’’), the NYSE Arca, Inc. (‘‘NYSE Arca’’), and the Philadelphia Stock Exchange, Inc. (‘‘Phlx’’) (collectively, ‘‘Participants’’), respectively, filed with the Securities and Exchange Commission (‘‘Commission’’) pursuant to section 11A of the Securities Exchange Act of 1934 (‘‘Act’’) 1 and Rule 608 thereunder 2 an amendment (‘‘Joint 1 15 2 17 U.S.C. 78k–1. CFR 242.608. VerDate Aug<31>2005 20:17 Nov 16, 2007 Jkt 214001 After careful consideration of Joint Amendment No. 23, the Commission finds that approving Joint Amendment No. 23 is consistent with the requirements of the Act and the rules and regulations thereunder. Specifically, the Commission finds that Joint Amendment No. 23 is consistent with section 11A of the Act 6 and Rule 608 thereunder 7 in that it is appropriate in the public interest, for the protection of investors and the maintenance of fair and orderly markets. The Commission believes that allowing Participants to send Linkage P/A Orders to the Linkage prior to the exchange’s opening should facilitate investors’ intermarket access to superior prices disseminated by Participants other than the one to which the order was initially sent. 3 On July 28, 2000, the Commission approved a national market system plan for the purpose of creating and operating an intermarket options market linkage proposed by the Amex, CBOE, and 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 BSE 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). 4 See Securities Exchange Act Release No. 56605 (October 3, 2007), 72 FR 58134. 5 See Section 2(16)(a) of the Linkage Plan. 6 15 U.S.C. 78k–1. 7 17 CFR 242.608. PO 00000 Frm 00128 Fmt 4703 Sfmt 4703 65113 IV. Conclusion It is therefore ordered, pursuant to Section 11A of the Act 8 and Rule 608 thereunder,9 that Joint Amendment No. 23 is approved. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.10 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–22533 Filed 11–16–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56778; File No. SR–Amex– 2007–100] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Order Granting Accelerated Approval of Proposed Rule Change to List and Trade Options on Shares of the iShares MSCI Mexico Index Fund November 9, 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 August 27, 2007, the American Stock Exchange LLC (the ‘‘Amex’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the Exchange. The Commission is publishing this notice and order to solicit comments on the proposal from interested persons and to approve the proposed rule change on an accelerated basis. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to list and trade options on shares of the iShares MSCI Mexico Index Fund (the ‘‘Fund Options’’). The text of the proposed rule change is available on the Amex’s Web site at http://www.amex.com, the Office of the Secretary, the Amex and at the Commission’s Public Reference Room. 8 15 U.S.C. 78k–1. CFR 242.608. 10 17 CFR 200.30–3(a)(29). 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 9 17 E:\FR\FM\19NON1.SGM 19NON1

Agencies

[Federal Register Volume 72, Number 222 (Monday, November 19, 2007)]
[Notices]
[Page 65113]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-22533]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56780; File No. 4-429]


Joint Industry Plan; Order Approving Joint Amendment No. 23 to 
the Plan for the Purpose of Creating and Operating an Intermarket 
Option Linkage To Permit the Use of Linkage Prior to the Opening of 
Trading

November 13, 2007.

I. Introduction

    On September 14, 2007, September 19, 2007, August 29, 2007, August 
30, 2007, August 29, 2007, and September 26, 2007, the American Stock 
Exchange LLC (``Amex''), the Boston Stock Exchange, Inc. (``BSE''), the 
Chicago Board Options Exchange, Incorporated (``CBOE''), the 
International Securities Exchange, LLC (``ISE''), the NYSE Arca, Inc. 
(``NYSE Arca''), and the Philadelphia Stock Exchange, Inc. (``Phlx'') 
(collectively, ``Participants''), respectively, filed with the 
Securities and Exchange Commission (``Commission'') pursuant to section 
11A of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 608 
thereunder \2\ an amendment (``Joint Amendment No. 23'') to the Plan 
for the Purpose of Creating and Operating an Intermarket Option Linkage 
(``Linkage Plan'').\3\ In Joint Amendment No. 23, the Participants 
propose to modify section 7(a)(i) of the Linkage Plan to permit trading 
on Linkage prior to the opening of trading. The proposed Joint 
Amendment No. 23 was published in the Federal Register on October 12, 
2007.\4\ The Commission received no comments on Joint Amendment No. 23. 
This order approves Joint Amendment No. 23.
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    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ On July 28, 2000, the Commission approved a national market 
system plan for the purpose of creating and operating an intermarket 
options market linkage proposed by the Amex, CBOE, and 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 BSE 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).
    \4\ See Securities Exchange Act Release No. 56605 (October 3, 
2007), 72 FR 58134.
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II. Description of the Proposed Amendment

    The Linkage Plan currently does not permit use of Linkage before an 
exchange opens for trading and disseminates a quotation in an option 
series. In Joint Amendment No. 23, the Participants proposed to amend 
section 7(a)(i) of the Linkage Plan to permit the use of Linkage prior 
to the opening of trading. Specifically, Joint Amendment No. 23 would 
allow Participants to send Linkage P/A Orders \5\ to the Linkage prior 
to the exchange's opening.
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    \5\ See Section 2(16)(a) of the Linkage Plan.
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III. Discussion and Commission Findings

    After careful consideration of Joint Amendment No. 23, the 
Commission finds that approving Joint Amendment No. 23 is consistent 
with the requirements of the Act and the rules and regulations 
thereunder. Specifically, the Commission finds that Joint Amendment No. 
23 is consistent with section 11A of the Act \6\ and Rule 608 
thereunder \7\ in that it is appropriate in the public interest, for 
the protection of investors and the maintenance of fair and orderly 
markets. The Commission believes that allowing Participants to send 
Linkage P/A Orders to the Linkage prior to the exchange's opening 
should facilitate investors' intermarket access to superior prices 
disseminated by Participants other than the one to which the order was 
initially sent.
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    \6\ 15 U.S.C. 78k-1.
    \7\ 17 CFR 242.608.
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IV. Conclusion

    It is therefore ordered, pursuant to Section 11A of the Act \8\ and 
Rule 608 thereunder,\9\ that Joint Amendment No. 23 is approved.
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    \8\ 15 U.S.C. 78k-1.
    \9\ 17 CFR 242.608.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(29).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-22533 Filed 11-16-07; 8:45 am]
BILLING CODE 8011-01-P