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
<![CDATA[
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
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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 https://
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 (https://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 (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 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]
=======================================================================
-----------------------------------------------------------------------
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 https://
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).
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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.
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\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).
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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\
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\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 (https://
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 (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 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\
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\17\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-22627 Filed 11-19-07; 8:45 am]
BILLING CODE 8011-01-P
