Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change as Modified by Amendment No. 1 Thereto to Eliminate References to the ITS Plan and Other Now-Obsolete Matters, 65377-65379 [E7-22627]

Download as PDF Federal Register / Vol. 72, No. 223 / Tuesday, November 20, 2007 / Notices Safety Evaluation dated October 26, 2007. No significant hazards consideration comments received: No. pwalker on PROD1PC71 with NOTICES Nuclear Management Company, LLC, Docket Nos. 50–282 and 50–306, Prairie Island Nuclear Generating Plant (PINGP), Units 1 and 2, Goodhue County, Minnesota Date of application for amendments: May 10, 2007. Brief description of amendments: The requested changes are a partial adoption of Technical Specification Task Force (TSTF)–491, Revision 2, ‘‘Removal of Main Steam and Feedwater Valve Isolation Times’’ which was proposed by the TSTF by letter on May 18, 2006. The proposed changes revise Technical Specification (TS) 3.7.2 ‘‘Main Steam Valves Closure Times’’ by relocating the isolation valve closure times to a licensee-controlled document identified as a Bases reference. The proposed amendments deviate from TSTF–491 in that the current PINGP TS (3.7.3) and associated surveillance requirements for the main feedwater isolation valves do not include valve closure times, and thus, the changes to TS 3.7.3 provided for in TSTF–491 are not applicable to the PINGP TSs and are not adopted. TSTF change traveler TSTF–491, Revision 2, was announced for availability in the Federal Register on December 29, 2006, as part of the consolidated line item improvement process. Date of issuance: October 31, 2007. Effective date: As of the date of issuance and shall be implemented within 90 days. Amendment Nos.: 181 and 171. Facility Operating License Nos. DPR– 42 and DPR–60: Amendments revised the Technical Specifications. Date of initial notice in Federal Register: July 17, 2007 (72 FR 39083). The Commission’s related evaluation of the amendments is contained in a Safety Evaluation dated October 31, 2007. No significant hazards consideration comments received: No. Southern California Edison Company, et al., Docket Nos. 50–361 and 50–362, San Onofre Nuclear Generating Station, Units 2 and 3, San Diego County, California. Date of application for amendments: April 17, 2007. Brief description of amendments: The amendment modified Technical Specifications requirements related to control room envelope habitability in accordance with Technical Specifications Task Force 448, Revision VerDate Aug<31>2005 18:20 Nov 19, 2007 Jkt 214001 3, using the Consolidated Line Item Improvement Process. Date of issuance: October 31, 2007. Effective date: as of its date of issuance, to be implemented within 60 days of issuance. Amendment Nos.: Unit 2–214; Unit 3–206. Facility Operating License Nos. NPF– 10 and NPF–15: The amendments revised the Facility Operating Licenses and Technical Specifications. Date of initial notice in Federal Register: May 22, 2007 (72 FR 28722). The Commission’s related evaluation of the amendments is contained in a Safety Evaluation dated October 31, 2007. No significant hazards consideration comments received: No. Virginia Electric and Power Company, Docket Nos. 50–338 and 50–339, North Anna Power Station, Units 1 and 2, Louisa County, Virginia Date of application for amendment: May 21, 2007, as supplemented by letter dated June 11, 2007. Brief description of amendment: The amendment modified the technical specification (TS) requirements for inoperable snubbers by adding Limited Condition for Operation 3.0.8, using the Consolidated Line Item Improvement Process. The change is based on TS Task Force (TSTF) TSTF–372, Revision 4. Date of issuance: October 17, 2007. Effective date: As of the date of issuance and shall be implemented within 90 days from the date of issuance. Amendment Nos.: 251, 231. Renewed Facility Operating License Nos. NPF–4 and NPF–7: Amendments change the licenses and the technical specifications. Date of initial notice in Federal Register: June 19, 2007 (72 FR 33785) The supplement dated July 11, 2007, provided additional information that clarified the application, did not expand the scope of the application as originally noticed, and did not change the staff’s original proposed no significant hazards consideration determination. The Commission’s related evaluation of the amendments is contained in a Safety Evaluation dated October 17, 2007. No significant hazards consideration comments received: No. Virginia Electric and Power Company, Docket Nos. 50–338 and 50–339, North Anna Power Station, Units 1 and 2, Louisa County, Virginia Date of application for amendment: May 29, 2007. Brief description of amendment: The amendments modify the Technical Specification requirements related to PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 65377 control room habitability, using the Technical Specification Task Force traveler, TSTF–448, revision 3. Date of issuance: October 31, 2007. Effective date: As of the date of issuance and shall be implemented within 180 days from the date of issuance. Amendment Nos.: 252, 232. Renewed Facility Operating License Nos. NPF–4 and NPF–7: Amendments change the licenses and the technical specifications. Date of initial notice in Federal Register: July 3, 2007 (72 FR 36523). The Commission’s related evaluation of the amendments is contained in a Safety Evaluation dated October 31, 2007. No significant hazards consideration comments received: No. Dated at Rockville, Maryland, this 8th day of November 2007. For The Nuclear Regulatory Commission. Catherine Haney, Director, Division of Operating Reactor Licensing, Office of Nuclear Reactor Regulation. [FR Doc. E7–22331 Filed 11–19–07; 8:45 am] BILLING CODE 7590–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56784; File No. SR-CHX– 2007–25] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change as Modified by Amendment No. 1 Thereto to Eliminate References to the ITS Plan and Other Now-Obsolete Matters November 14, 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 Chicago Stock Exchange, Inc. (‘‘CHX’’ or ‘‘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 CHX. On November 9, 2007, CHX filed Amendment No. 1 to the proposed rule change. CHX has designated the proposed rule change as a ‘‘noncontroversial’’ rule change pursuant to section 19(b)(3)(A) of the Act 3 and Rule 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 2 17 E:\FR\FM\20NON1.SGM 20NON1 65378 Federal Register / Vol. 72, No. 223 / Tuesday, November 20, 2007 / Notices 19b–4(f)(6) thereunder, 4 which renders the proposed rule change effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend its rules to eliminate now-obsolete references to the Intermarket Trading System Plan (‘‘ITS Plan’’), the NMS Linkage Plan, the telephonic access requirements of the Nasdaq/UTP Plan and the compliance date for Rule 611 (‘‘Trading Phase Date’’) of Regulation NMS (‘‘Reg NMS’’). The text of the proposed rule change is available at CHX, the Commission’s Public Reference Room, and http:// www.chx.com/rules/ proposed_rules.htm. 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 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 CHX has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. pwalker on PROD1PC71 with NOTICES A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change CFR 240.19b–4(f)(6). Securities Exchange Act Release No. 54550 (September 29, 2006), 71 FR 59563 (October 10, 2006) (approving CHX’s proposed new trading model). 5 See VerDate Aug<31>2005 17:01 Nov 19, 2007 Jkt 214001 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with section 6(b) of the Act, 8 in general, and furthers the objectives of section 6(b)(5) of the Act, 9 in particular, in that the proposed rule change is designed to 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 updating the Exchange’s rules to eliminate outdated references to matters that are no longer relevant. 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. 1. Purpose In 2006, the Exchange made a substantial number of changes to its rules in connection with its implementation of a new trading model. 5 At the time these new rules were approved, the Nasdaq/UTP Plan still required participant exchanges to provide NASD market participants with telephonic access to their quotes; the ITS Plan was still in effect and the NMS Linkage Plan had just been approved; and the Trading Phase Date was still several months away. As a result, the Exchange’s rules contained references to these plans and to the way that the Exchange’s rules should operate both 4 17 before and after the Trading Phase Date. 6 In the ensuing months, however, the ITS Plan has been eliminated; the NMS Linkage Plan has terminated; the Trading Phase Date has passed; and the access requirements of the Nasdaq/UTP Plan have changed. 7 The Exchange now proposes to update its rules to eliminate all now-outdated references to the ITS and NMS Linkage Plans, to the compliance or effective dates of any provisions of Reg NMS and to the telephonic access requirements of the Nasdaq/UTP Plan. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change does not: 6 See, e.g., Article 1, Rule 1(o) (defining the term NBBO both before and after the full implementation of Reg NMS); and Article 19 (containing the ITS rules). 7 See Securities Exchange Act Release Nos. 55397 (March 5, 2007), 72 FR 11066 (March 12, 2007) (eliminating the ITS Plan); 54551 (September 29, 2006), 71 FR 59148 (October 6, 2006) (approving the NMS Linkage Plan, with a termination date of June 30, 2007); 55160 (January 24, 2007), 72 FR 4202 (January 30, 2007) (File No. S7–10–04) (extending the Trading Phase Date from February 5, 2007 to March 5, 2007); and 54936 (December 14, 2006), 71 FR 76381 (December 20, 2006) (approving Amendment No. 18 to the Nasdaq/UTP Plan, which, in general terms, replaced the telephonic access requirements with market access requirements consistent with Rule 610). 8 15 U.S.C. 78f(b). 9 15 U.S.C. 78f(b)(5). PO 00000 Frm 00091 Fmt 4703 Sfmt 4703 (1) Significantly affect the protection of investors or the public interest; (2) impose any significant burden on competition; and (3) by its terms become operative for 30 days after the date of this filing, or such shorter time as the Commission may designate if consistent with the protection of investors and the public interest, it has become effective pursuant to section 19(b)(3)(A) of the Act 10 and Rule 19b–4(f)(6) thereunder. 11 As required under Rule 19b–4(f)(6)(iii) under the Act, the Exchange has given the Commission notice of its intent to file the proposed rule change, along with a brief description and text of 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. A proposed rule change filed under Rule 19b–4(f)(6) under the Act 12 normally may not become operative prior to 30 days after the date of filing. However, Rule 19b–4(f)(6)(iii) 13 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest. CHX has requested that the Commission waive the 30-day operative delay, as specified in Rule 19b– 4(f)(6)(iii), 14 which would make the rule change effective and operative upon filing. The Commission believes that waiving the 30-day operative delay is consistent with the protection of investors and the public interest because the proposal allows the Exchange to immediately update its rules to reflect, among other changes, the termination of the NMS Linkage Plan, the elimination of the ITS Plan, and the implementation of Reg NMS. 15 Accordingly, the Commission designates the proposed rule change operative upon filing with the Commission. At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. 16 1015 1117 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 12Id. 1317 CFR 240.19b–4(f)(6)(iii). 14Id. 15For purposes only of waiving the operative delay for this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). 16The effective date of the original proposed rule is October 17, 2007. The effective date of E:\FR\FM\20NON1.SGM 20NON1 Federal Register / Vol. 72, No. 223 / Tuesday, November 20, 2007 / Notices 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: be submitted on or before December 11, 2007. 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–2007–25 on the subject line. BILLING CODE 8011–01–P pwalker on PROD1PC71 with NOTICES Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number SR–CHX–2007–25. 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–2007–25 and should Amendment No. 1 is November 9, 2007. For purposes of calculating the 60-day period within which the Commission may summarily abrogate the proposed rule change under Section 19(b)(3)(C) of the Act, the Commission considers the period to commence on November 9, 2007, the date on which CHX submitted Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C). VerDate Aug<31>2005 17:50 Nov 19, 2007 Jkt 214001 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.17 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–22627 Filed 11–19–07; 8:45 am] DEPARTMENT OF STATE [Public Notice 5994] Bureau of Educational and Cultural Affairs (ECA) Request for Grant Proposals: Open Competition Seeking Professional Exchange Programs in Africa, East Asia, Europe, the Near East, North Africa, South Central Asia, and the Western Hemisphere Announcement Type: New Grant. Funding Opportunity Number: ECA/ PE/C–08–01. Catalog of Federal Domestic Assistance Number: 19.415. Key Dates: Application Deadline: February 15, 2007. Executive Summary: The Office of Citizen Exchanges of the Bureau of Educational and Cultural Affairs announces an open competition for grants that support exchanges and build relationships between U.S. non-profit organizations and civil society and cultural groups in Africa, East Asia, Europe, the Near East, North Africa, South Central Asia and the Western Hemisphere. Pending availability of funds, it is anticipated that approximately $5,000,000 or more will be available to support this competition. ECA/PE/C expects to fund approximately 15–20 projects under this competition in FY 2008. U.S. public and non-profit organizations meeting the provisions described in Internal Revenue code section 26 U.S.C. 501(c)(3) may submit proposals that support the goals of The Professional Exchange Program. Projects should promote mutual understanding and partnerships between key professional and cultural groups in the United States and counterpart groups in other countries through multi-phased exchanges taking place over one to two years. Proposals should encourage citizen engagement in current issues, with a particular focus on youth and those who influence them, and promote the development of democratic societies and institutions, with a view toward creating a more stable world. To the 17 17 PO 00000 CFR 200.30–3(a)(12). Frm 00092 Fmt 4703 Sfmt 4703 65379 fullest extent possible, programs should be two-way exchanges supporting roughly equal numbers of participants from the U.S. and foreign countries. Proposed projects should transform institutional and individual understanding of key issues, foster dialogue, share expertise, and develop capacity. Through these people-topeople exchanges, the Bureau seeks to break down stereotypes that divide peoples, to promote good governance and economic growth, to contribute to conflict prevention and management, and to build respect for cultural expression and identity in the world. Projects should be structured to allow American professionals and their international counterparts in eligible countries to develop a common dialogue for dealing with shared challenges and concerns. Projects should include current or potential leaders who will effect positive change in their communities. Exchange participants may include community leaders, elected and professional government officials, religious leaders, educators, and proponents of democratic ideals and institutions, including for example, the media and judiciary, or others who influence the way in which different communities approach these issues. The Bureau is especially interested in engaging socially and economically diverse groups that may not have had extensive contact with counterpart institutions in the United States and particularly seeks proposals that engage educators or other groups that directly influence youth in innovative ways. Applicants may not submit proposals that address more than one region or that include countries not eligible under a specific theme designated in the RFGP. Proposals that do so will be declared technically ineligible and will receive no further consideration in the review process. For the purposes of this competition, eligible regions are Africa, East Asia, Europe, the Near East, North Africa, South Central Asia, and the Western Hemisphere. No guarantee is made or implied that grants will be awarded in all themes and for all countries listed. I. Funding Opportunity Description II. Authority Overall grant making authority for this program is contained in the Mutual Educational and Cultural Exchange Act of 1961, Public Law 87–256, as amended, also known as the FulbrightHays Act. The purpose of the Act is ‘‘to enable the Government of the United States to increase mutual understanding between the people of the United States E:\FR\FM\20NON1.SGM 20NON1

Agencies

[Federal Register Volume 72, Number 223 (Tuesday, November 20, 2007)]
[Notices]
[Pages 65377-65379]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-22627]


=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56784; File No. SR-CHX-2007-25]


Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change as 
Modified by Amendment No. 1 Thereto to Eliminate References to the ITS 
Plan and Other Now-Obsolete Matters

November 14, 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 Chicago Stock Exchange, Inc. 
(``CHX'' or ``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 CHX. On November 9, 2007, CHX filed Amendment No. 1 to the proposed 
rule change. CHX has designated the proposed rule change as a ``non-
controversial'' rule change pursuant to section 19(b)(3)(A) of the Act 
\3\ and Rule

[[Page 65378]]

19b-4(f)(6) thereunder, \4\ which renders the proposed rule change 
effective upon filing with the Commission. The Commission is publishing 
this notice to solicit comments on the proposed rule change, as 
amended, from interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    The Exchange proposes to amend its rules to eliminate now-obsolete 
references to the Intermarket Trading System Plan (``ITS Plan''), the 
NMS Linkage Plan, the telephonic access requirements of the Nasdaq/UTP 
Plan and the compliance date for Rule 611 (``Trading Phase Date'') of 
Regulation NMS (``Reg NMS''). The text of the proposed rule change is 
available at CHX, the Commission's Public Reference Room, and http://
www.chx.com/rules/proposed_rules.htm.

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 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 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
    In 2006, the Exchange made a substantial number of changes to its 
rules in connection with its implementation of a new trading model. \5\ 
At the time these new rules were approved, the Nasdaq/UTP Plan still 
required participant exchanges to provide NASD market participants with 
telephonic access to their quotes; the ITS Plan was still in effect and 
the NMS Linkage Plan had just been approved; and the Trading Phase Date 
was still several months away. As a result, the Exchange's rules 
contained references to these plans and to the way that the Exchange's 
rules should operate both before and after the Trading Phase Date. \6\
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 54550 (September 29, 
2006), 71 FR 59563 (October 10, 2006) (approving CHX's proposed new 
trading model).
    \6\ See, e.g., Article 1, Rule 1(o) (defining the term NBBO both 
before and after the full implementation of Reg NMS); and Article 19 
(containing the ITS rules).
---------------------------------------------------------------------------

    In the ensuing months, however, the ITS Plan has been eliminated; 
the NMS Linkage Plan has terminated; the Trading Phase Date has passed; 
and the access requirements of the Nasdaq/UTP Plan have changed. \7\ 
The Exchange now proposes to update its rules to eliminate all now-
outdated references to the ITS and NMS Linkage Plans, to the compliance 
or effective dates of any provisions of Reg NMS and to the telephonic 
access requirements of the Nasdaq/UTP Plan.
---------------------------------------------------------------------------

    \7\ See Securities Exchange Act Release Nos. 55397 (March 5, 
2007), 72 FR 11066 (March 12, 2007) (eliminating the ITS Plan); 
54551 (September 29, 2006), 71 FR 59148 (October 6, 2006) (approving 
the NMS Linkage Plan, with a termination date of June 30, 2007); 
55160 (January 24, 2007), 72 FR 4202 (January 30, 2007) (File No. 
S7-10-04) (extending the Trading Phase Date from February 5, 2007 to 
March 5, 2007); and 54936 (December 14, 2006), 71 FR 76381 (December 
20, 2006) (approving Amendment No. 18 to the Nasdaq/UTP Plan, which, 
in general terms, replaced the telephonic access requirements with 
market access requirements consistent with Rule 610).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with section 6(b) of the Act, \8\ in general, and furthers the 
objectives of section 6(b)(5) of the Act, \9\ in particular, in that 
the proposed rule change is designed to 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 updating the 
Exchange's rules to eliminate outdated references to matters that are 
no longer relevant.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78f(b).
    \9\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    Because the foregoing proposed rule change does not:
    (1) Significantly affect the protection of investors or the public 
interest;
    (2) impose any significant burden on competition; and
    (3) by its terms become operative for 30 days after the date of 
this filing, or such shorter time as the Commission may designate if 
consistent with the protection of investors and the public interest, it 
has become effective pursuant to section 19(b)(3)(A) of the Act \10\ 
and Rule 19b-4(f)(6) thereunder. \11\ As required under Rule 19b-
4(f)(6)(iii) under the Act, the Exchange has given the Commission 
notice of its intent to file the proposed rule change, along with a 
brief description and text of 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\15 U.S.C. 78s(b)(3)(A).
    \11\17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) under the Act 
\12\ normally may not become operative prior to 30 days after the date 
of filing. However, Rule 19b-4(f)(6)(iii) \13\ permits the Commission 
to designate a shorter time if such action is consistent with the 
protection of investors and the public interest. CHX has requested that 
the Commission waive the 30-day operative delay, as specified in Rule 
19b-4(f)(6)(iii), \14\ which would make the rule change effective and 
operative upon filing. The Commission believes that waiving the 30-day 
operative delay is consistent with the protection of investors and the 
public interest because the proposal allows the Exchange to immediately 
update its rules to reflect, among other changes, the termination of 
the NMS Linkage Plan, the elimination of the ITS Plan, and the 
implementation of Reg NMS. \15\ Accordingly, the Commission designates 
the proposed rule change operative upon filing with the Commission.
---------------------------------------------------------------------------

    \12\Id.
    \13\17 CFR 240.19b-4(f)(6)(iii).
    \14\Id.
    \15\For purposes only of waiving the operative delay for this 
proposal, the Commission has considered the proposed rule's impact 
on efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission may summarily abrogate such rule change if it 
appears to the Commission that such action is necessary or appropriate 
in the public interest, for the protection of investors, or otherwise 
in furtherance of the purposes of the Act. \16\
---------------------------------------------------------------------------

    \16\The effective date of the original proposed rule is October 
17, 2007. The effective date of Amendment No. 1 is November 9, 2007. 
For purposes of calculating the 60-day period within which the 
Commission may summarily abrogate the proposed rule change under 
Section 19(b)(3)(C) of the Act, the Commission considers the period 
to commence on November 9, 2007, the date on which CHX submitted 
Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C).

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[[Page 65379]]

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-2007-25 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-CHX-2007-25. 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-2007-25 and should be 
submitted on or before December 11, 2007.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\17\
---------------------------------------------------------------------------

    \17\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-22627 Filed 11-19-07; 8:45 am]
BILLING CODE 8011-01-P