Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of a Proposed Rule Change Relating to Rule 6.87-Obvious Error, 66214-66216 [E7-22979]

Download as PDF 66214 Federal Register / Vol. 72, No. 227 / Tuesday, November 27, 2007 / Notices trade basis. Elections made with respect to how transaction types are processed through FICC must be effected through the applicable FICC Executing Firm Agreement. As noted above, settlement obligations will arise for Submitting Member A for each transaction that proceeds to netting. Under the proposed changes, Submitting Members will be required to notify GSD with respect to each Executing Firm for which they submit data which transactions types that will be processed as comparison-only transactions and which will proceed to netting. Submitting members must notify GSD three business days prior to the commencement of the initial data submission on behalf of an Executing Firm. Any modifications made to an election will require three business days notice to GSD. FICC will announce to its members by means of an Important Notice the effective date of this enhancement. GSD anticipates implementation to be during the fourth quarter of this year. FICC believes that the proposed rule change is consistent with the requirements of section 17A of the Act 4 and the rules thereunder. FICC states that this rule change enhances existing capabilities extended to netting members acting as Submitting Members under GSD’s rules. FICC further states that the proposed changes will not affect FICC’s ability to safeguard the funds and securities in FICC’s control or for which it is responsible. B. Self-Regulatory Organization’s Statement on Burden on Competition FICC does not believe that the proposed rule change will have any impact or impose any burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments relating to the proposed rule change have not yet been solicited or received. FICC will notify the Commission of any written comments received by FICC. pwalker on PROD1PC71 with NOTICES 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)(iii) 5 of the Act and Rule 19b–4(f)(4) 6 thereunder because it effects a change in an existing service of 4 15 U.S.C. 78q–1. U.S.C. 78s(b)(3)(A)(iii). 6 17 CFR 240.19b–4(f)(4). 5 15 VerDate Aug<31>2005 17:26 Nov 26, 2007 Jkt 214001 FICC that does not adversely affect the safeguarding of securities or funds in FICC’s control or for which FICC is responsible and does not significantly affect FICC’s or its participants’ respective rights or obligations. At any time within 60 days of the filing of the proposed rule change, the Commission could have summarily abrogated such rule change if it appeared to the Commission that such action was necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–FICC–2007–09 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 No. FICC–2007–09. 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, 450 Fifth Street, NW., Washington, DC 20549, on official business days between the hours of 10a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at FICC’s principal office and PO 00000 Frm 00086 Fmt 4703 Sfmt 4703 on FICC’s Web site at http://ficc.com/ gov/gov.docs.jsp?NS-query=#rf. 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 submission should refer to File No. SR– FICC–2007–09 and should be submitted on or before December 18, 2007. For the Commission by the Division of Trading and Markets pursuant to delegated authority.7 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–23021 Filed 11–26–07; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56819; File No. SR– NYSEArca–2007–115] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of a Proposed Rule Change Relating to Rule 6.87—Obvious Error November 19, 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 November 8, 2007, NYSE Arca, Inc. (‘‘NYSE Arca’’ 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. 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 Exchange proposes to amend NYSE Arca Rule 6.87 governing obvious errors. Specifically, the Exchange proposes a revised review procedure for contesting decisions made pursuant to the options obvious error rule. The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and http:// www.nyse.com. 7 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 E:\FR\FM\27NON1.SGM 27NON1 Federal Register / Vol. 72, No. 227 / Tuesday, November 27, 2007 / Notices 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 pwalker on PROD1PC71 with NOTICES 1. Purpose The Exchange proposes to amend NYSE Arca Rule 6.87 governing options obvious errors. Specifically, the Exchange proposes a revised review procedure for contesting decisions made pursuant to the obvious error rule. Currently, NYSE Arca Rule 6.87 provides that the Exchange will determine whether an ‘‘Obvious Error’’ 3 has occurred after a market maker believes and notifies the Exchange that it participated in a transaction that was the result of an Obvious Error. If the Exchange believes that an Obvious Error has occurred, the Exchange will take one of the following actions depending on the parties to the trade: (1) Adjust the price with an adjustment; (2) bust the trade; or (3) adjust the trade without an adjustment penalty. Currently, if a party does not agree with the action taken by the Exchange, the party may appeal the decision to the Exchange’s Board of Directors (‘‘Board’’) pursuant to NYSE Arca Rule 10.14. The Exchange proposes to amend Rule 6.87 by removing the Board appeal process pursuant to Rule 10.14 and replacing it with a revised appeal process. Proposed NYSE Arca Rule 6.87 would permit a party affected by the determination of an Obvious Error to request an appeal to the Obvious Error Panel (‘‘OE Panel’’) to review the determination made by the Exchange’s representative pursuant to Rule 6.87(a)(3). The OE Panel would be comprised of the NYSE Arca Chief Regulatory Officer (‘‘CRO’’), or a designee of the CRO,4 and 3 ‘‘Obvious Error’’ is defined in NYSE Arca Rule 6.87(a)(1). 4 The Exchange represents that a designee of the CRO would be an employee of the Exchange, working closely with and reporting directly to, the CRO, such as one of the Directors of Options VerDate Aug<31>2005 17:26 Nov 26, 2007 Jkt 214001 representatives from two options and trading permit firms (‘‘OTP Firms’’).5 One representative on the OE Panel will be from an OTP Firm directly engaged in market making activities and one representative on the OE Panel will be from an OTP Firm directly engaged in the handling of options orders for public customers. In addition, requests for an appeal would have to be made via facsimile or e-mail within thirty minutes after the party requesting the appeal is given notification of the initial determination. Thereafter, the OE Panel would review the information and may overturn or modify the action taken by the Officer. Such determination by the OE Panel would be considered a final action by the Exchange on the matter at issue. All final determinations made by the OE Panel would be rendered, without prejudice, as to the rights of the parties to the transaction to submit their dispute to arbitration. The Exchange states that the revised process is intended to provide a timely appeal for OTP Firms and options and trading permit holders (‘‘OTP Holders’’) in place of the lengthy Board appeals process currently provided in Rule 10.14. Finally, if the OE Panel upholds the Exchange’s decision made pursuant to Rule 6.87(a)(4) to bust or adjust a trade, the Exchange would assess a $500.00 fee against the OTP Holder or OTP Firm that initiated the request for appeal. The Exchange believes that assessing a $500.00 fee would discourage frivolous and abusive practices of the appeal process. The Exchange is also proposing amendments to Rule 10.14 to remove the Board appeals process for Rule 6.87, and remove the appeals process from Commentary .02 of Rule 6.87. 2. Statutory Basis The Exchange believes the proposed rule change is consistent with section 6(b) of the Act,6 in general, and furthers the objectives of section 6(b)(5) of the Act,7 in particular, because it is designed to promote just and equitable Regulation. The Exchange notes that the International Securities Exchange, LLC (‘‘ISE’’) designates an obvious error panel to independently make appeals decisions and also to overturn or modify actions taken by the ISE. See ISE Rule 720. 5 The Exchange proposes to designate at least ten (10) OTP Firm representatives to be called upon to serve on the OE Panel. In no case would the OE Panel include a person related to a party to the trade in question. To the extent reasonably possible, the Exchange proposes to call upon the designated representatives to participate on an OE Panel on an equally frequent basis. 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(5). PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 66215 principles of trade, to foster cooperation and coordination with persons engaged in facilitating transactions in securities, and to remove impediments and perfect the mechanisms of a free and open market and to protect investors and the public interest. 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 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 No written comments were solicited or received by the Exchange with respect to the proposed rule change. 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 Exchange consents, the Commission will: A. By order approve the proposed rule change; or B. Institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSEArca–2007–115 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–NYSEArca–2007–115. This file number should be included on the E:\FR\FM\27NON1.SGM 27NON1 66216 Federal Register / Vol. 72, No. 227 / Tuesday, November 27, 2007 / Notices 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 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–NYSEArca–2007–115 and should be submitted on or before December 18, 2007. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.8 Florence E. Harmon, Deputy Secretary. [FR Doc. E7–22979 Filed 11–26–07; 8:45 am] BILLING CODE 8011–01–P SOCIAL SECURITY ADMINISTRATION pwalker on PROD1PC71 with NOTICES Agency Information Collection Activities: Comment Request The Social Security Administration (SSA) publishes a list of information collection packages that will require clearance by the Office of Management and Budget (OMB) in compliance with Pub. L. 104–13, the Paperwork Reduction Act of 1995, effective October 1, 1995. The information collection packages that may be included in this notice are for new information collections, approval of existing information collections, revisions to OMB-approved information collections, and extensions (no change) of OMBapproved information collections. SSA is soliciting comments on the accuracy of the agency’s burden 8 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 17:26 Nov 26, 2007 Jkt 214001 estimate; the need for the information; its practical utility; ways to enhance its quality, utility, and clarity; and on ways to minimize burden on respondents, including the use of automated collection techniques or other forms of information technology. Written comments and recommendations regarding the information collection(s) should be submitted to the OMB Desk Officer and the SSA Reports Clearance Officer. The information can be mailed, faxed or e-mailed to the individuals at the addresses and fax numbers listed below: (OMB) Office of Management and Budget, Attn: Desk Officer for SSA, Fax: 202–395– 6974, E-mail address: OIRA_Submission@omb.eop.gov. (SSA) Social Security Administration, DCBFM, Attn: Reports Clearance Officer, 1333 Annex Building, 6401 Security Blvd., Baltimore, MD 21235, Fax: 410–965–6400, E-mail address: OPLM.RCO@ssa.gov. The information collections listed below have been submitted to OMB for clearance. Your comments on the information collections would be most useful if received by OMB and SSA within 30 days from the date of this publication. You can obtain a copy of the OMB clearance packages by calling the SSA Reports Clearance Officer at 410–965–0454, or by writing to the address listed above. Letter to Custodian of Birth Records/ Letter to Custodian of School Records— 20 CFR 404.704, 404.716, 416.802, and 422.107—0960–0693. SSA prepares the SSA–L106 and SSA–L706 for individuals who need help in obtaining evidence of their age in connection with Social Security number card applications and claims for benefits. SSA uses the SSA–L706 to determine the existence of primary evidence of age for Social Security Number (SSN) applicants. SSA also uses both letters to verify with the issuing entity, when necessary, the authenticity of the record submitted by the SSN applicant or claimant. The respondents are schools, state and local bureaus of vital statistics, and religious entities. Type of Request: Revision of an OMBapproved information collection. Number of Respondents: 7,200. Frequency of Response: 1. Average Burden Per Response: 10 minutes. Estimated Annual Burden: 1,200 hours. PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 Dated: November 20, 2007. Elizabeth A. Davidson, Reports Clearance Officer, Social Security Administration. [FR Doc. E7–23022 Filed 11–26–07; 8:45 am] BILLING CODE 4191–02–P DEPARTMENT OF STATE [Public Notice 5996] Issuance of a Presidential Permit Authorizing the Greater Yuma Port Authority To Construct, Operate, and Maintain a Livestock Border Crossing Near San Luis, Arizona, at the International Boundary Between the United States and Mexico SUMMARY: The Department of State has issued a Presidential permit, effective November 16, 2007, authorizing the Greater Yuma Port Authority to construct, operate, and maintain a livestock border crossing near San Luis, Arizona, at the international boundary between the United States and Mexico. In making this determination, the Department consulted with other federal agencies, as required by Executive Order 11423, as amended. FOR FURTHER INFORMATION CONTACT: Mr. Daniel Darrach, U.S.-Mexico Border Affairs Coordinator, via e-mail at WHABorderAffairs@state.gov; by phone at 202–647–9894 or by mail at WHA/MEX, Room 4258, Department of State, 2201 C St., NW., Washington, DC 20520. SUPPLEMENTARY INFORMATION: Following is the text of the issued permit: By virtue of the authority vested in me as Under Secretary of State for Economic, Energy and Agricultural Affairs, pursuant to Department of State Delegation number 118–2 from the Secretary of State dated January 26, 2006, to exercise, to the extent authorized by law, all authorities vested in the Secretary of State, including those authorities under Executive Order 11423, 33 FR 11741 (1968), as amended by Executive Order 12847 of May 17, 1993, 58 FR. 29511 (1993), Executive Order 13284 of January 23, 2003, 68 FR 4075 (2003), and Executive Order 13337 of April 30, 2004, 69 FR 25299 (2004); having considered the environmental effects of the proposed action in accordance with the National Environmental Policy Act of 1969 (83 Stat. 852; 42 U.S.C. § 4321, et seq.) and other statutes relating to environmental concerns; having considered the proposed action in accordance with the National Historic Preservation Act (80 Stat. 917, 16 U.S.C. § 470f, et seq.); and having requested and received the views of various of the federal departments E:\FR\FM\27NON1.SGM 27NON1

Agencies

[Federal Register Volume 72, Number 227 (Tuesday, November 27, 2007)]
[Notices]
[Pages 66214-66216]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-22979]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56819; File No. SR-NYSEArca-2007-115]


Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing 
of a Proposed Rule Change Relating to Rule 6.87--Obvious Error

November 19, 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 November 8, 2007, NYSE Arca, Inc. (``NYSE Arca'' 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. The Commission 
is publishing this notice to solicit comments on the proposed rule 
change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to amend NYSE Arca Rule 6.87 governing 
obvious errors. Specifically, the Exchange proposes a revised review 
procedure for contesting decisions made pursuant to the options obvious 
error rule. The text of the proposed rule change is available at the 
Exchange, the Commission's Public Reference Room, and http://
www.nyse.com.

[[Page 66215]]

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
    The Exchange proposes to amend NYSE Arca Rule 6.87 governing 
options obvious errors. Specifically, the Exchange proposes a revised 
review procedure for contesting decisions made pursuant to the obvious 
error rule. Currently, NYSE Arca Rule 6.87 provides that the Exchange 
will determine whether an ``Obvious Error'' \3\ has occurred after a 
market maker believes and notifies the Exchange that it participated in 
a transaction that was the result of an Obvious Error. If the Exchange 
believes that an Obvious Error has occurred, the Exchange will take one 
of the following actions depending on the parties to the trade: (1) 
Adjust the price with an adjustment; (2) bust the trade; or (3) adjust 
the trade without an adjustment penalty. Currently, if a party does not 
agree with the action taken by the Exchange, the party may appeal the 
decision to the Exchange's Board of Directors (``Board'') pursuant to 
NYSE Arca Rule 10.14.
---------------------------------------------------------------------------

    \3\ ``Obvious Error'' is defined in NYSE Arca Rule 6.87(a)(1).
---------------------------------------------------------------------------

    The Exchange proposes to amend Rule 6.87 by removing the Board 
appeal process pursuant to Rule 10.14 and replacing it with a revised 
appeal process. Proposed NYSE Arca Rule 6.87 would permit a party 
affected by the determination of an Obvious Error to request an appeal 
to the Obvious Error Panel (``OE Panel'') to review the determination 
made by the Exchange's representative pursuant to Rule 6.87(a)(3). The 
OE Panel would be comprised of the NYSE Arca Chief Regulatory Officer 
(``CRO''), or a designee of the CRO,\4\ and representatives from two 
options and trading permit firms (``OTP Firms'').\5\ One representative 
on the OE Panel will be from an OTP Firm directly engaged in market 
making activities and one representative on the OE Panel will be from 
an OTP Firm directly engaged in the handling of options orders for 
public customers.
---------------------------------------------------------------------------

    \4\ The Exchange represents that a designee of the CRO would be 
an employee of the Exchange, working closely with and reporting 
directly to, the CRO, such as one of the Directors of Options 
Regulation. The Exchange notes that the International Securities 
Exchange, LLC (``ISE'') designates an obvious error panel to 
independently make appeals decisions and also to overturn or modify 
actions taken by the ISE. See ISE Rule 720.
    \5\ The Exchange proposes to designate at least ten (10) OTP 
Firm representatives to be called upon to serve on the OE Panel. In 
no case would the OE Panel include a person related to a party to 
the trade in question. To the extent reasonably possible, the 
Exchange proposes to call upon the designated representatives to 
participate on an OE Panel on an equally frequent basis.
---------------------------------------------------------------------------

    In addition, requests for an appeal would have to be made via 
facsimile or e-mail within thirty minutes after the party requesting 
the appeal is given notification of the initial determination. 
Thereafter, the OE Panel would review the information and may overturn 
or modify the action taken by the Officer. Such determination by the OE 
Panel would be considered a final action by the Exchange on the matter 
at issue. All final determinations made by the OE Panel would be 
rendered, without prejudice, as to the rights of the parties to the 
transaction to submit their dispute to arbitration. The Exchange states 
that the revised process is intended to provide a timely appeal for OTP 
Firms and options and trading permit holders (``OTP Holders'') in place 
of the lengthy Board appeals process currently provided in Rule 10.14.
    Finally, if the OE Panel upholds the Exchange's decision made 
pursuant to Rule 6.87(a)(4) to bust or adjust a trade, the Exchange 
would assess a $500.00 fee against the OTP Holder or OTP Firm that 
initiated the request for appeal. The Exchange believes that assessing 
a $500.00 fee would discourage frivolous and abusive practices of the 
appeal process.
    The Exchange is also proposing amendments to Rule 10.14 to remove 
the Board appeals process for Rule 6.87, and remove the appeals process 
from Commentary .02 of Rule 6.87.
2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
section 6(b) of the Act,\6\ in general, and furthers the objectives of 
section 6(b)(5) of the Act,\7\ in particular, because it is designed to 
promote just and equitable principles of trade, to foster cooperation 
and coordination with persons engaged in facilitating transactions in 
securities, and to remove impediments and perfect the mechanisms of a 
free and open market and to protect investors and the public interest.
---------------------------------------------------------------------------

    \6\ 15 U.S.C. 78f(b).
    \7\ 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 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

    No written comments were solicited or received by the Exchange with 
respect to the proposed rule change.

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 Exchange consents, the Commission will:
    A. By order approve the proposed rule change; or
    B. Institute proceedings to determine whether the proposed rule 
change should be disapproved.

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-NYSEArca-2007-115 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-NYSEArca-2007-115. This 
file number should be included on the

[[Page 66216]]

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 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-NYSEArca-2007-115 and should be submitted on or before 
December 18, 2007.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\8\
---------------------------------------------------------------------------

    \8\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-22979 Filed 11-26-07; 8:45 am]
BILLING CODE 8011-01-P