Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to Extension of the iShares Russell 2000 Index Fund (IWM) Option Pilot Program, 3496-3497 [E8-861]
Download as PDF
<![CDATA[
rwilkins on PROD1PC63 with NOTICES
3496
Federal Register / Vol. 73, No. 13 / Friday, January 18, 2008 / Notices
submissions should identify the subject
article(s) in terms of the country and the
eight-digit Harmonized Tariff Schedule
of the United States subheading
number. The deadline for submission is
February 15, 2008.
Requirements for Submissions: In
order to facilitate prompt processing of
submissions, USTR requires electronic
e-mail submissions in response to this
notice. Hand-delivered submissions will
not be accepted. These submissions
should be single-copy transmissions in
English, and including attachments,
with the total submission not to exceed
25 single-spaced standard letter-size
pages in 12-point type and three
megabytes as sent as a digital file
attached to an e-mail transmission. Email submissions should use the
following subject line: ‘‘Child Labor
Review in the Production of Certain
GSP-Eligible Hand-loomed or Handhooked Carpet Lines’’ followed by the
country and the eight-digit HTSUS
subheading number. Documents must
be submitted in English in one of the
following formats: WordPerfect (.WPD),
Adobe (.PDF), MSWord (.DOC), or text
(.TXT) files. Documents cannot be
submitted as electronic image files or
contain embedded images, e.g., ‘‘.JPG’’,
‘‘.TIF’’, ‘‘.BMP’’, or ‘‘.GIF’’. Supporting
documentation submitted as
spreadsheets are acceptable as Excel
files, formatted for printing on 81⁄2 x 11
inch paper. To the extent possible, any
data attachments to the submission
should be included in the same file as
the submission itself, and not as
separate files.
If the submission contains business
confidential information, a nonconfidential version of the submission
must also be submitted that indicates
where confidential information was
redacted by inserting asterisks where
material was deleted. In addition, the
confidential submission must be clearly
marked ‘‘BUSINESS CONFIDENTIAL’’
at the top and bottom of each page of the
document. The non-confidential version
must also be clearly marked at the top
and bottom of each page (either
‘‘PUBLIC VERSION’’ or ‘‘NONCONFIDENTIAL’’). Documents that are
submitted without any marking might
not be accepted or will be considered
public documents.
For any document containing
business confidential information
submitted as an electronic attached file
to an e-mail transmission, the file name
of the business confidential version
should begin with the characters ‘‘BC-’’,
and the file name of the public version
should begin with the characters ‘‘P-’’.
The ‘‘P-’’ or ‘‘BC-’’ should be followed
by the name of the party (government,
VerDate Aug<31>2005
16:37 Jan 17, 2008
Jkt 214001
company, union, association, etc.)
which is making the submission.
E-mail submissions should not
include separate cover letters or
messages in the message area of the email; information that might appear in
any cover letter should be included
directly in the attached file containing
the submission itself, including the
sender’s name, organization name,
address, telephone number and e-mail
address. The e-mail address for these
submissions is
FR0081@USTR.EOP.GOV. (Note: The
letters ‘‘FR’’ in the e-mail address are
followed by the number, zero, not a
letter. Documents not submitted in
accordance with these instructions
might not be considered in this review.
If unable to provide submissions by email, please contact the GSP
Subcommittee to arrange for an
alternative method of transmission.)
Public versions of all documents
relating to this review will be available
for review approximately two weeks
after the relevant due date by
appointment in the USTR public
reading room, 1724 F Street, NW.,
Washington, DC. Appointments may be
made from 9:30 a.m. to noon and 1 p.m.
to 4 p.m., Monday through Friday, by
calling (202) 395–6186.
Marideth Sandler
Executive Director, Generalized System of
Preferences, Office of the U.S. Trade
Representative.
[FR Doc. E8–905 Filed 1–17–08; 8:45 am]
BILLING CODE 3190–W8–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57141; File No. SR–CBOE–
2007–147]
Self-Regulatory Organizations;
Chicago Board Options Exchange,
Incorporated; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change and Amendment No. 1
Thereto Relating to Extension of the
iShares Russell 2000 Index Fund (IWM)
Option Pilot Program
January 14, 2008.
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 December
11, 2007, the Chicago Board Options
Exchange, Incorporated (‘‘Exchange’’ or
‘‘CBOE’’) filed with the Securities and
Exchange Commission (‘‘Commission’’)
the proposed rule change as described
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00049
Fmt 4703
Sfmt 4703
in Items I and II below, which Items
have been prepared substantially by the
Exchange. On January 8, 2008, CBOE
filed Amendment No. 1 to the proposed
rule change. The Exchange filed the
proposal as a ‘‘non-controversial’’
proposed rule change pursuant to
Section 19(b)(3)(A) of the Act 3 and Rule
19b–4(f)(6) thereunder,4 which renders
the proposal effective upon filing with
the Commission.5 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 extend an
existing pilot program that increases the
position and exercise limits for options
on the iShares Russell 2000 Index Fund
(‘‘IWM options’’) traded on the
Exchange (‘‘IWM Option Pilot
Program’’). The text of the proposed rule
change is available at https://
www.cboe.org/Legal, the Exchange’s
principal office, and 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 those
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 the
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The IWM Option Pilot Program
provides for increased position and
exercise limits for IWM options traded
on the Exchange.6 Specifically, the IWM
3 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6).
5 CBOE gave the Commission written notice of its
intent to file the proposed rule change on November
28, 2007.
6 The proposal that established the IWM Option
Pilot Program was effective and operative upon
filing. See Securities Exchange Act Release No.
55176 (January 25, 2007), 72 FR 4741 (February 1,
2007) (SR–CBOE–2007–08). The IWM Option Pilot
Program was extended, and is due to expire on
January 18, 2008. See Securities Exchange Act
Release No. 55926 (June 20, 2007), 72 FR 35275
(June 27, 2007) (SR–CBOE–2007–61).
4 17
E:\FR\FM\18JAN1.SGM
18JAN1
Federal Register / Vol. 73, No. 13 / Friday, January 18, 2008 / Notices
Option Pilot Program increases the
position and exercise limits for IWM
option from 250,000 contracts to
500,000 contracts.7
The purpose of the instant proposed
rule change is to extend the IWM
Option Pilot Program through March 1,
2008. The Exchange is not proposing
any other change to the IWM Option
Pilot Program. The Exchange believes
that extending the IWM Pilot Program is
warranted due to the positive feedback
received from market participants and
for the reasons cited in the original
proposed rule changes that proposed the
adoption of the IWM Pilot Program.
Also, the Exchange has not encountered
any problems or difficulties relating to
the IWM Option Pilot Program since its
inception. For these reasons, the
Exchange proposes to extend the IWM
Option Pilot Program for the
aforementioned additional period.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with the
requirements provided under Section
6(b)(5) of the Act,8 which requires that
the rules of an exchange be designed to
promote just and equitable principles of
trade, to prevent fraudulent and
manipulative acts, 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 impose any
burden on competition 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.
rwilkins on PROD1PC63 with NOTICES
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
7 Exercise limits for IWM options are equivalent
to the position limits prescribed for IWM options
in Rule 4.11.07 and the increased exercise limits are
only in effect during the IWM Option Pilot Period.
See Rule 4.12.02.
8 15 U.S.C. 78f(b)(5).
VerDate Aug<31>2005
16:37 Jan 17, 2008
Jkt 214001
investors and the public interest,
provided that the self-regulatory
organization has given the Commission
written notice of its intent to file 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 proposed rule change
has become effective pursuant to
Section 19(b)(3)(A) of the Act 9 and Rule
19b–4(f)(6) thereunder.10
CBOE has requested the Commission
to waive the 30-day operative delay so
that the proposal may become operative
immediately upon filing.
The Commission hereby grants
CBOE’s request 11 and believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest. The
Commission notes that the IWM Option
Pilot Program was previously extended.
In addition, waiver of the 30-day
operative period would allow the IWM
Option Pilot Program to continue
uninterrupted.
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.12
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–2007–147 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Nancy M. Morris, Secretary,
9 15
U.S.C. 78s(b)(3)(A).
10 17 CFR 240.19b–4(f)(6).
11 For purposes only of waiving the 30-day
operative delay, the Commission has considered the
proposal’s impact on efficiency, competition, and
capital formation. 15 U.S.C. 78c(f).
12 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 January 8, 2008, the
date on which the Exchange filed Amendment No.
1.
PO 00000
Frm 00050
Fmt 4703
Sfmt 4703
3497
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–1090.
All submissions should refer to File
Number SR–CBOE–2007–147. 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 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–2007–147 and
should be submitted on or before
February 8, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.13
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–861 Filed 1–17–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57137; File No. SR–CHX–
2007–24]
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing of a Proposed Rule Change as
Modified by Amendment No. 1 Thereto
Relating to the Handling of Clearly
Erroneous Transactions
January 14, 2008.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
13 17
E:\FR\FM\18JAN1.SGM
CFR 200.30–3(a)(12).
18JAN1
]]>Agencies
[Federal Register Volume 73, Number 13 (Friday, January 18, 2008)]
[Notices]
[Pages 3496-3497]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-861]
=======================================================================
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57141; File No. SR-CBOE-2007-147]
Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed
Rule Change and Amendment No. 1 Thereto Relating to Extension of the
iShares Russell 2000 Index Fund (IWM) Option Pilot Program
January 14, 2008.
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 December 11, 2007, the Chicago Board Options Exchange,
Incorporated (``Exchange'' or ``CBOE'') filed with the Securities and
Exchange Commission (``Commission'') the proposed rule change as
described in Items I and II below, which Items have been prepared
substantially by the Exchange. On January 8, 2008, CBOE filed Amendment
No. 1 to the proposed rule change. The Exchange filed the proposal as a
``non-controversial'' proposed rule change pursuant to Section
19(b)(3)(A) of the Act \3\ and Rule 19b-4(f)(6) thereunder,\4\ which
renders the proposal effective upon filing with the Commission.\5\ 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).
\5\ CBOE gave the Commission written notice of its intent to
file the proposed rule change on November 28, 2007.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to extend an existing pilot program that
increases the position and exercise limits for options on the iShares
Russell 2000 Index Fund (``IWM options'') traded on the Exchange (``IWM
Option Pilot Program''). The text of the proposed rule change is
available at https://www.cboe.org/Legal, the Exchange's principal
office, and 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 those 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 the
Statutory Basis for, the Proposed Rule Change
1. Purpose
The IWM Option Pilot Program provides for increased position and
exercise limits for IWM options traded on the Exchange.\6\
Specifically, the IWM
[[Page 3497]]
Option Pilot Program increases the position and exercise limits for IWM
option from 250,000 contracts to 500,000 contracts.\7\
---------------------------------------------------------------------------
\6\ The proposal that established the IWM Option Pilot Program
was effective and operative upon filing. See Securities Exchange Act
Release No. 55176 (January 25, 2007), 72 FR 4741 (February 1, 2007)
(SR-CBOE-2007-08). The IWM Option Pilot Program was extended, and is
due to expire on January 18, 2008. See Securities Exchange Act
Release No. 55926 (June 20, 2007), 72 FR 35275 (June 27, 2007) (SR-
CBOE-2007-61).
\7\ Exercise limits for IWM options are equivalent to the
position limits prescribed for IWM options in Rule 4.11.07 and the
increased exercise limits are only in effect during the IWM Option
Pilot Period. See Rule 4.12.02.
---------------------------------------------------------------------------
The purpose of the instant proposed rule change is to extend the
IWM Option Pilot Program through March 1, 2008. The Exchange is not
proposing any other change to the IWM Option Pilot Program. The
Exchange believes that extending the IWM Pilot Program is warranted due
to the positive feedback received from market participants and for the
reasons cited in the original proposed rule changes that proposed the
adoption of the IWM Pilot Program. Also, the Exchange has not
encountered any problems or difficulties relating to the IWM Option
Pilot Program since its inception. For these reasons, the Exchange
proposes to extend the IWM Option Pilot Program for the aforementioned
additional period.
2. Statutory Basis
The Exchange believes the proposed rule change is consistent with
the requirements provided under Section 6(b)(5) of the Act,\8\ which
requires that the rules of an exchange be designed to promote just and
equitable principles of trade, to prevent fraudulent and manipulative
acts, and, in general, to protect investors and the public interest.
---------------------------------------------------------------------------
\8\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
CBOE does not believe that the proposed rule change will impose any
burden on competition 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 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, provided that the
self-regulatory organization has given the Commission written notice of
its intent to file 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 proposed rule change has
become effective pursuant to Section 19(b)(3)(A) of the Act \9\ and
Rule 19b-4(f)(6) thereunder.\10\
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
CBOE has requested the Commission to waive the 30-day operative
delay so that the proposal may become operative immediately upon
filing.
The Commission hereby grants CBOE's request \11\ and believes that
waiving the 30-day operative delay is consistent with the protection of
investors and the public interest. The Commission notes that the IWM
Option Pilot Program was previously extended. In addition, waiver of
the 30-day operative period would allow the IWM Option Pilot Program to
continue uninterrupted.
---------------------------------------------------------------------------
\11\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposal's impact on efficiency,
competition, and capital formation. 15 U.S.C. 78c(f).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate such rule change if it
appears to the Commission that such action is necessary or appropriate
in the public interest, for the protection of investors, or otherwise
in furtherance of the purposes of the Act.\12\
---------------------------------------------------------------------------
\12\ 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 January 8, 2008, the date on which the Exchange filed
Amendment No. 1.
---------------------------------------------------------------------------
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-CBOE-2007-147 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-2007-147. 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 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-2007-147 and should be submitted on
or before February 8, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\13\
---------------------------------------------------------------------------
\13\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-861 Filed 1-17-08; 8:45 am]
BILLING CODE 8011-01-P
