Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding Trade Processing Fees, 1380-1382 [E8-91]
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1380
Federal Register / Vol. 73, No. 5 / Tuesday, January 8, 2008 / Notices
the section 6(b)(5) 9 requirements that
the rules of an exchange be designed to
promote just and equitable principles of
trade, to prevent fraudulent and
manipulative acts, to remove
impediments to and perfect the
mechanism for a free and open market
and a national market system, and, in
general, to protect investors and the
public interest.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
CBOE does not believe that the
proposed rule change will result in any
burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Act.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange neither solicited nor
received comments on the proposal.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, 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
Normally, a proposed rule change
filed under 19b–4(f)(6) may not become
operative prior to 30 days after the date
of filing. However, Rule 19b–
4(f)(6)(iii) 12 permits the Commission to
designate a shorter time if such action
is consistent with the protection of
investors and the public interest. The
Exchange has requested that the
Commission waive the 30-day operative
delay. In its filing, the Exchange noted
that waiver of the 30-day operative
delay, and immediate implementation
of the described rule change, would
allow the Exchange to (i) implement
pwalker on PROD1PC71 with NOTICES
9 15
U.S.C. 78f(b)(5).
10 15 U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires that a self-regulatory
organization submit to the Commission written
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. The Commission notes that CBOE has
satisfied the five-day pre-filing notice requirement.
12 17 CFR 240.19b–4(f)(6)(iii).
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direct-booking of non-marketable nonHybrid 3.0 Classes concurrent with
related fee changes, which were filed
with the Commission for immediate
effectiveness on December 21, 2007 and
which take effect on January 1, 2008;
and (ii) immediately utilize HAL in
Hybrid 3.0 Classes, which will allow
Market-Makers appointed to the
relevant Hybrid 3.0 option class to
electronically participate on qualifying
flashed orders.
The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest. The
proposed rule change will allow a
greater number of users to trade against
certain orders sooner. In addition,
initiating HAL for Hybrid 3.0 Classes
provides further automation to order
handling by allowing Market-Makers to
electronically participate on such
orders. Accordingly, consistent with the
protection of investors and the public
interest, the Commission designates the
proposed rule change to be operative
upon filing with the Commission.13
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.
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 rulecomments@sec.gov. Please include File
Number SR–CBOE–2007–153 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–CBOE–2007–153. This file
13 For the purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposed rule’s impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
PO 00000
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Fmt 4703
Sfmt 4703
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 CBOE. 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–CBOE–2007–153 and
should be submitted on or before
January 29, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.14
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–95 Filed 1–7–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57078; File No. SR–CHX–
2007–28]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Regarding
Trade Processing Fees
December 31, 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 December
21, 2007, the Chicago Stock Exchange,
Inc. (‘‘Exchange’’ or ‘‘CHX’’) filed with
the Securities and Exchange
14 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
E:\FR\FM\08JAN1.SGM
08JAN1
Federal Register / Vol. 73, No. 5 / Tuesday, January 8, 2008 / Notices
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
Through this filing, the Exchange
proposes to amend its Schedule of
Participant Fees and Assessments (the
‘‘Fee Schedule’’) to provide that
recently-modified processing fees would
no longer be assessed on a per-report
basis, but would be rolled up and
assessed on a per-trade basis. The text
of the proposed rule change is available
on the Exchange’s Web site (https://
www.chx.com/rules/
proposed_rules.htm), at the Exchange’s
principal office, and at the
Commission’s Public Reference Room.
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
pwalker on PROD1PC71 with NOTICES
Under the Exchange’s Fee Schedule,
the Exchange assesses a fee in
connection with the processing of
certain away-market trades that are sent
to clearing through the Exchange’s
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17:32 Jan 07, 2008
Jkt 214001
facilities.3 The fees are charged for each
report submitted to clearing.4
Through this filing, the Exchange
would amend the Fee Schedule to
provide that the fees would no longer be
assessed on a per-report basis, but
would be rolled up and assessed on a
per-trade basis.5 The Exchange has
recently made changes to its billing
process that would allow the fee to be
calculated in this manner and believes
that this revised calculation method
provides a fair and reasonable means of
assessing this fee.6
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
section 6(b)(4) of the Act,7 in that it
provides for the equitable allocation of
reasonable dues, fees, and other charges
among its members.
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.
3 The Exchange recently increased this fee to
$0.0035/share, up to a maximum of $100 per side,
for clearing reports in Tape A and B securities and
to $0.0025/share, up to a maximum of $100 per
side, for clearing reports in Tape C securities. See
Securities Exchange Act Release No. 56833
(November 21, 2007), 72 FR 67616 (November 29,
2007) (SR–CHX–2007–26). The Exchange also
recently began to apply the fee to trades in all
securities, instead of limiting the fee to securities
that are not listed or traded on the Exchange. See
id. These fee changes were designed to help offset
the Exchange’s costs of processing these
transactions for clearing.
4 Each away-market trade may be composed of
more than one clearing report. For example, if a
single away-market trade for 4,000 shares includes
a clearing report for 1,000 shares between Firm A
and Firm B and a clearing report for 3,000 shares
between Firm A and Firm C, a separate fee would
be assessed on each clearing report. As a result,
Firm A could be charged up to $100 per side on
each of the two clearing reports, resulting in a
potential fee of $200.
5 Under this revised fee, in the example set out
in footnote 4 above, Firm A would be charged up
to only $100 per side on the full 4,000 shares
associated with the away-market trade.
6 The Exchange currently uses this ‘‘rolled-up’’
method to calculate the transaction fees charged for
agency transactions that are handled by its
institutional brokers. See Fee Schedule, paragraph
E.3. By calculating the transaction and processing
fees in the same way, the Exchange hopes to
eliminate any confusion that may have resulted
from its initial choice of a different calculation
method. Moreover, the fees that are generated
through the processing of clearing reports under
this new calculation method will still serve to help
offset the Exchange’s associated costs of providing
the service, thus ensuring that the fee equitably
allocates the Exchange’s costs among its
participants.
7 15 U.S.C. 78f(b)(4).
PO 00000
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1381
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 with respect to the proposed
rule change.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change establishes or changes a due, fee,
or other charge imposed by the
Exchange, it has become effective upon
filing pursuant to section 19(b)(3)(A) of
the Act 8 and Rule 19b–4(f)(2)
thereunder.9 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.
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 rulecomments@sec.gov. Please include File
No. SR–CHX–2007–28 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–2007–28. 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
8 15
9 17
E:\FR\FM\08JAN1.SGM
U.S.C. 78s(b)(3)(A).
CFR 19b–4(f)(2).
08JAN1
1382
Federal Register / Vol. 73, No. 5 / Tuesday, January 8, 2008 / Notices
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–2007–28 and should
be submitted on or before January 29,
2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.10
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–91 Filed 1–7–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57073; File No. SR–FINRA–
2007–028]
Self-Regulatory Organizations;
Financial Industry Regulatory
Authority, Inc.; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change Relating to Revisions to
the Series 24 Examination Program
pwalker on PROD1PC71 with NOTICES
December 31, 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 December
12, 2007, Financial Industry Regulatory
Authority, Inc. (‘‘FINRA’’) (f/k/a
National Association of Securities
Dealers, Inc. (‘‘NASD’’)) filed with the
Securities and Exchange Commission
(‘‘SEC’’ or ‘‘Commission’’) the proposed
rule change as described in Items I, II
and III below, which Items have been
prepared substantially by FINRA.
FINRA has designated this proposal as
constituting a stated policy, practice, or
interpretation with respect to the
meaning, administration, or
enforcement of an existing rule of the
self-regulatory organization pursuant to
10 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
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17:32 Jan 07, 2008
Jkt 214001
Section 19(b)(3)(A)(i) of the Act 3 and
Rule 19b–4(f)(1) thereunder,4 which
renders the proposal effective upon
filing with the Commission. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
FINRA is filing revisions to the study
outline and selection specifications for
the General Securities Principal (Series
24) examination program.5 The
proposed revisions update the material
to reflect changes to the laws, rules, and
regulations covered by the examination
and to better reflect the duties and
responsibilities of a General Securities
Principal. FINRA is not proposing any
textual changes to the By-Laws,
Schedules to the By-Laws, or Rules of
FINRA.
The text of the proposed rule change
is available at https://www.finra.org, the
principal offices of FINRA, and the
Commission’s Public Reference Room.
The Series 24 selection specifications
have been submitted to the Commission
under separate cover with a request for
confidential treatment pursuant to Rule
24b–2 under the Act.6
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
FINRA 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. FINRA has prepared
summaries, set forth in Sections A, B,
and C below, of the most significant
aspects of such statements.
3 15
U.S.C. 78s(b)(3)(A)(i).
CFR 240.19b–4(f)(1).
5 FINRA also is proposing corresponding
revisions to the Series 24 question bank, but based
upon instruction from the Commission staff, FINRA
is submitting SR–FINRA–2007–028 for immediate
effectiveness pursuant to Section 19(b)(3)(A) of the
Act and Rule 19b–4(f)(1) thereunder, and is not
filing the question bank for Commission review. See
Letter to Alden S. Adkins, Senior Vice President
and General Counsel, NASD Regulation, from
Belinda Blaine, Associate Director, Division of
Market Regulation, SEC, dated July 24, 2000,
attached as Exhibit 3c to the proposed rule change.
The question bank is available for Commission
review.
6 17 CFR 240.24b–2.
4 17
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A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
Section 15A(g)(3) of the Act 7 requires
FINRA to prescribe standards of
training, experience, and competence
for persons associated with FINRA
members. In accordance with that
provision, FINRA has developed
examinations, and administers
examinations developed by other selfregulatory organizations, that are
designed to establish that persons
associated with FINRA members have
attained specified levels of competence
and knowledge. FINRA periodically
reviews the content of the examinations
to determine whether revisions are
necessary or appropriate in view of
changes pertaining to the subject matter
covered by the examinations.
Pursuant to NASD Rule 1022(a), each
associated person of a member who is
included within the definition of
principal in NASD Rule 1021(b), and
each person designated as a Chief
Compliance Officer on Schedule A of
Form BD (Uniform Application for
Broker-Dealer Registration), is required
to register with FINRA as a General
Securities Principal, or in such other
limited principal registration categories
as may be appropriate.8 An associated
person also may be required to register
as a General Securities Principal due to
other FINRA rule requirements.9 The
Series 24 examination is the FINRA
examination that qualifies an individual
to function as a General Securities
Principal. An associated person seeking
to register as a General Securities
Principal also must register as either a
General Securities Representative
(Series 7) or, depending on the scope of
his or her supervisory responsibilities,
as a Limited Representative—Corporate
Securities (Series 62).10
A committee of industry
representatives, together with FINRA
7 15
U.S.C. 78o–3(g)(3).
addition, NYSE Rule 342.13 recognizes the
Series 24 examination as an acceptable alternative
to the General Securities Sales Supervisor (Series
9/10) examination for persons whose duties do not
include supervision of options or municipal
securities sales activities. FINRA has incorporated
into its rulebook certain rules of NYSE, including
NYSE Rule 342.13. FINRA’s NYSE Rule 342.13
applies solely to those members of FINRA that also
are members of NYSE on or after July 30, 2007.
9 See, e.g., NASD Rules 3010(a)(2), 3010(a)(4) and
3012(a)(1).
10 As a prerequisite to the Series 24 examination,
FINRA also recognizes the Limited Registered
Representative (Series 17), Canada Modules of the
Series 7 (Series 37 and Series 38) and Limited
Representative—Private Securities Offerings (Series
82) examinations.
8 In
E:\FR\FM\08JAN1.SGM
08JAN1
]]>Agencies
[Federal Register Volume 73, Number 5 (Tuesday, January 8, 2008)]
[Notices]
[Pages 1380-1382]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-91]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57078; File No. SR-CHX-2007-28]
Self-Regulatory Organizations; Chicago Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Regarding Trade Processing Fees
December 31, 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 December 21, 2007, the Chicago Stock Exchange, Inc. (``Exchange'' or
``CHX'') filed with the Securities and Exchange
[[Page 1381]]
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
Through this filing, the Exchange proposes to amend its Schedule of
Participant Fees and Assessments (the ``Fee Schedule'') to provide that
recently-modified processing fees would no longer be assessed on a per-
report basis, but would be rolled up and assessed on a per-trade basis.
The text of the proposed rule change is available on the Exchange's Web
site (https://www.chx.com/rules/proposed_rules.htm), at the Exchange's
principal office, and at the Commission's Public Reference Room.
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
Under the Exchange's Fee Schedule, the Exchange assesses a fee in
connection with the processing of certain away-market trades that are
sent to clearing through the Exchange's facilities.\3\ The fees are
charged for each report submitted to clearing.\4\
---------------------------------------------------------------------------
\3\ The Exchange recently increased this fee to $0.0035/share,
up to a maximum of $100 per side, for clearing reports in Tape A and
B securities and to $0.0025/share, up to a maximum of $100 per side,
for clearing reports in Tape C securities. See Securities Exchange
Act Release No. 56833 (November 21, 2007), 72 FR 67616 (November 29,
2007) (SR-CHX-2007-26). The Exchange also recently began to apply
the fee to trades in all securities, instead of limiting the fee to
securities that are not listed or traded on the Exchange. See id.
These fee changes were designed to help offset the Exchange's costs
of processing these transactions for clearing.
\4\ Each away-market trade may be composed of more than one
clearing report. For example, if a single away-market trade for
4,000 shares includes a clearing report for 1,000 shares between
Firm A and Firm B and a clearing report for 3,000 shares between
Firm A and Firm C, a separate fee would be assessed on each clearing
report. As a result, Firm A could be charged up to $100 per side on
each of the two clearing reports, resulting in a potential fee of
$200.
---------------------------------------------------------------------------
Through this filing, the Exchange would amend the Fee Schedule to
provide that the fees would no longer be assessed on a per-report
basis, but would be rolled up and assessed on a per-trade basis.\5\ The
Exchange has recently made changes to its billing process that would
allow the fee to be calculated in this manner and believes that this
revised calculation method provides a fair and reasonable means of
assessing this fee.\6\
---------------------------------------------------------------------------
\5\ Under this revised fee, in the example set out in footnote 4
above, Firm A would be charged up to only $100 per side on the full
4,000 shares associated with the away-market trade.
\6\ The Exchange currently uses this ``rolled-up'' method to
calculate the transaction fees charged for agency transactions that
are handled by its institutional brokers. See Fee Schedule,
paragraph E.3. By calculating the transaction and processing fees in
the same way, the Exchange hopes to eliminate any confusion that may
have resulted from its initial choice of a different calculation
method. Moreover, the fees that are generated through the processing
of clearing reports under this new calculation method will still
serve to help offset the Exchange's associated costs of providing
the service, thus ensuring that the fee equitably allocates the
Exchange's costs among its participants.
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with section 6(b)(4) of the Act,\7\ in that it provides for the
equitable allocation of reasonable dues, fees, and other charges among
its members.
---------------------------------------------------------------------------
\7\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
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 with respect to the
proposed rule change.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change establishes or changes a
due, fee, or other charge imposed by the Exchange, it has become
effective upon filing pursuant to section 19(b)(3)(A) of the Act \8\
and Rule 19b-4(f)(2) thereunder.\9\ 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.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78s(b)(3)(A).
\9\ 17 CFR 19b-4(f)(2).
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File No. SR-CHX-2007-28 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-2007-28. 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
[[Page 1382]]
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-2007-28 and should be submitted on or before January
29, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
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\10\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-91 Filed 1-7-08; 8:45 am]
BILLING CODE 8011-01-P
