Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Extending the Pilot Program Increasing Position and Exercise Limits for Options on the iShares® Russell 2000® Index Fund, 3760-3762 [E8-968]
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sroberts on PROD1PC70 with NOTICES
3760
Federal Register / Vol. 73, No. 14 / Tuesday, January 22, 2008 / Notices
SES performance appraisal system and
level III of the Executive Schedule
($158,500 in 2008) for SES members
covered by an SES performance
appraisal system that has not been
certified. By law, SES members are not
authorized to receive locality payments.
Agencies with certified performance
appraisal systems in 2008 for senior
executives and/or senior-level (SL) and
scientific or professional (ST) positions
also must apply a higher aggregate
limitation on pay—up to the Vice
President’s salary ($221,100 in 2008).
The Executive order adjusted the rates
of basic pay for administrative law
judges (ALJs) by 2.5 percent (rounded to
the nearest $100). The maximum rate of
basic pay for ALJs is set by law at the
rate for level IV of the Executive
Schedule, which is now $149,000. The
rate of basic pay for AL–2 is $145,400.
The rates of basic pay for AL–3/A
through 3/F range from $99,500 to
$137,600. (See 5 U.S.C. 5372.)
The rates of basic pay for members of
Contract Appeals Boards are calculated
as a percentage of the rate for level IV
of the Executive Schedule. (See 5 U.S.C.
5372a.) Therefore, these rates of basic
pay were increased by approximately
2.5 percent.
The maximum rate of basic pay for
SL/ST positions was increased by
approximately 2.5 percent (to $149,000)
because it is tied to the rate for level IV
of the Executive Schedule. The
minimum rate of basic pay for SL/ST
positions is equal to 120 percent of the
minimum rate of basic pay for GS–15
and thus was increased by 2.5 percent
(to $114,468). (See 5 U.S.C. 5376.)
On November 2, 2007, the President’s
Pay Agent extended the 2008 localitybased comparability payments to certain
categories of non-GS employees. The
Governmentwide categories include
employees in SL/ST positions, ALJs,
and Contract Appeals Board members.
The maximum locality rate of pay for
these employees is the rate for level III
of the Executive Schedule ($158,500 in
2008).
On January 4, 2008, OPM issued a
memorandum (CPM 2008–01) on the
January 2008 pay adjustments. (See
https://www.opm.gov/oca/compmemo/
2008/2008–01.asp) The memorandum
transmitted Executive Order 13454 and
provided the 2008 salary tables, locality
pay areas and percentages, and
information on general pay
administration matters and other related
information. The ‘‘2008 Salary Tables’’
posted on OPM’s Web site at https://
www.opm.gov/oca/08tables/index.asp
are the official rates of pay for affected
employees and are hereby incorporated
as part of this notice.
VerDate Aug<31>2005
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Office of Personnel Management.
Linda M. Springer,
Director.
[FR Doc. E8–1032 Filed 1–18–08; 8:45 am]
BILLING CODE 6325–39–P
UNITED STATES POSTAL SERVICE
BOARD OF GOVERNORS
CONTACT PERSON FOR MORE INFORMATION:
Wendy A. Hocking, Secretary of the
Board, U.S. Postal Service, 475 L’Enfant
Plaza, SW., Washington, DC 20260–
1000. Telephone (202) 268–4800.
Wendy A. Hocking,
Secretary.
[FR Doc. 08–250 Filed 1–17–08; 3:32 pm]
BILLING CODE 7710–12–M
Sunshine Act Meeting
Tuesday, January 29,
2008, at 11:30 a.m.; and Wednesday,
January 30, 2008, at 8:30 a.m. and 10:30
a.m.
PLACE: Washington, DC, at U.S. Postal
Service Headquarters, 475 L’Enfant
Plaza, SW., in the Benjamin Franklin
Room.
STATUS: January 29—11:30 a.m.—
Closed; January 30—8:30 a.m.—Open;
January 30—10:30 a.m.—Closed.
MATTERS TO BE CONSIDERED: Tuesday,
January 29 at 11:30 a.m. (Closed)
1. Product Pricing Update.
2. Financial Update.
3. Strategic Issues.
4. Labor Update.
5. Personnel Matters and
Compensation Issues.
6. Governors’ Executive Session—
Discussion of prior agenda items and
Board Governance.
DATE AND TIME:
Wednesday, January 30 at 8:30 a.m.
(Open)
1. Minutes of the Previous Meeting,
December 10–11, 2007.
2. Remarks of the Chairman and Vice
Chairman on the Board.
3. Remarks of the Postmaster General
and CEO Jack Potter.
4. Committee Reports.
5. Consideration of Board Resolution
on Capital Funding.
6. Quarterly Report on Service
Performance.
7. Quarterly Report on Financial
Performance.
8. Capital Investments.
a. Providence, Rhode Island,
Processing & Distribution Center (P&DC)
Expansion.
b. West Sacramento, California, P&DC
Expansion.
c. Perris, California, Delivery
Distribution Center.
9. Tentative Agenda for the March 4,
and April 1–2, 2008, meetings in
Washington, DC.
10. Election of Chairman and Vice
Chairman of the Board of Governors.
Wednesday, January 30 at 10:30 a.m.
(Closed)—if needed
1. Continuation of Tuesday’s closed
session agenda.
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SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
FEDERAL REGISTER CITATION OF PREVIOUS
ANNOUNCEMENT: [73 FR 2560, January
15, 2008].
Open Meeting.
PLACE: 100 F Street, NE., Auditorium,
Room L–002, Washington, DC.
STATUS:
DATE AND TIME OF PREVIOUSLY ANNOUNCED
MEETING: Wednesday, January 16, 2008
at 10 a.m.
Cancellation of
Meeting.
The Open Meeting scheduled for
Wednesday, January 16, 2008 has been
cancelled.
For further information please contact
the Office of the Secretary at (202) 551–
5400.
CHANGE IN THE MEETING:
Dated: January 16, 2008.
Nancy M. Morris,
Secretary.
[FR Doc. E8–946 Filed 1–18–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57145; File No. SR–Amex–
2008–01]
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Immediate Effectiveness
of Proposed Rule Change Extending
the Pilot Program Increasing Position
and Exercise Limits for Options on the
iShares Russell 2000 Index Fund
January 14, 2008.
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 January
10, 2008, the American Stock Exchange
LLC (‘‘Exchange’’ or ‘‘Amex’’) filed with
the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
1 15
2 17
E:\FR\FM\22JAN1.SGM
U.S.C. 78s(b)(1).
CFR 240.19b–4.
22JAN1
Federal Register / Vol. 73, No. 14 / Tuesday, January 22, 2008 / Notices
been substantially prepared by the
Exchange. The Exchange has designated
this proposal as non-controversial under
Section 19(b)(3)(A)(iii) of the Act 3 and
Rule 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
from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to extend the
existing pilot program that increases the
position and exercise limits for options
on the iShares Russell 2000 Index
Fund (‘‘IWM’’) traded on the Exchange
(the ‘‘IWM Pilot Program’’). The text of
the proposed rule change is available on
the Exchange’s Web site (https://
www.amex.com), 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
The Exchange proposes to extend the
existing pilot program that increases the
position and exercise limits for options
on the iShares Russell 2000 Index
Fund (‘‘IWM’’) traded on the Exchange
(the ‘‘IWM Pilot Program’’). The IWM
Pilot Program will allow position and
exercise limits for options on IWM to
remain at 500,000 contracts on a pilot
basis, through March 1, 2008.5
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
and furthers the objectives of Section
6(b)(5) of the Act 8 in that it is designed
to promote just and equitable principles
of trade, to remove impediments to and
perfect the mechanisms of 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
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
The Exchange has designated the
proposed rule change as one that: (1)
Does not significantly affect the
protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) does not become operative for 30
3 15
sroberts on PROD1PC70 with NOTICES
U.S.C. 78s(b)(3)(A)(iii).
CFR 240.19b–4(f)(6).
5 Pursuant to Rule 905, the exercise limit
established for IWM options shall be equivalent to
the position limit prescribed for IWM options in
Commentary .07 to Rule 904. The increased
exercise limits would only be in effect during the
pilot period.
The Exchange established the IWM
Pilot Program in January 2007.6 The
IWM Pilot Program was previously
extended in June 2007 for a six-month
period through January 18, 2008.7 The
Exchange is not proposing any further
changes to the IWM Pilot Program. The
Exchange believes that extending the
IWM Pilot Program is warranted
because the increased position and
exercise limits for IWM options will
lead to a more liquid and more
competitive market environment for
IWM options that will benefit customers
interested in this product. Finally, the
Exchange represents that it has not
encountered any problems or
difficulties relating to the IWM Pilot
Program since its inception. For the
foregoing reasons, the Exchange
requests that the Commission extend the
IWM Pilot Program for the
aforementioned additional period.
4 17
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6 See Securities Exchange Act Release No. 55163
(January 24, 2007), 72 FR 4547 (January 31, 2007)
(SR–Amex–2007–11).
7 See Securities Exchange Act Release No. 56090
(July 18, 2007), 72 FR 40907 (July 25, 2007) (SR–
Amex–2007–73).
8 15 U.S.C. 78f(b)(5).
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3761
days from the date of filing, or such
shorter time as the Commission may
designate if consistent with the
protection of investors and the public
interest. Therefore, the foregoing rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 9 and
subparagraph (f)(6) of Rule 19b–4
thereunder.10 The Exchange has asked
the Commission to waive the operative
delay to permit the Pilot Program
extension to become effective prior to
the 30th day after filing.
The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest
because it will allow the benefits of the
IWM Pilot Program to continue without
interruption.11 Therefore, the
Commission designates the proposal
operative upon filing.
At any time within 60 days of the
filing of the proposed rule change, the
Commission may summarily abrogate
the 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–Amex–2008–01 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.
9 15
U.S.C. 78s(b)(3)(A).
CFR 240.19b–4(f)(6). In addition, Rule 19b–
4(f)(6)(iii) requires a self-regulatory organization to
provide the Commission with 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
Exchange has fulfilled this requirement.
11 For 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).
10 17
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Federal Register / Vol. 73, No. 14 / Tuesday, January 22, 2008 / Notices
All submissions should refer to File
Number SR–Amex–2008–01. 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 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–Amex–2008–01 and should
be submitted on or before February 12,
2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8–968 Filed 1–18–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57148; File No. SR–Amex–
2007–137]
sroberts on PROD1PC70 with NOTICES
Self-Regulatory Organizations;
American Stock Exchange LLC; Notice
of Filing and Order Granting
Accelerated Approval of a Proposed
Rule Change, as Modified by
Amendment No. 1 Thereto, To Amend
Section 107D of the Amex Company
Guide
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
notice is hereby given that on December
14, 2007, the American Stock Exchange
LLC (‘‘Exchange’’ or ‘‘Amex’’) 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
Amex. On January 8, 2008, the
Exchange filed Amendment No. 1 to the
proposed rule change. The Commission
is publishing this notice to solicit
comments on the proposed rule change,
as amended, from interested persons
and is approving the proposed rule
change on an accelerated basis.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to amend
section 107D of the Amex Company
Guide (‘‘Company Guide’’) to: (i)
Eliminate the requirement that an
eligible index for index-linked securities
(‘‘Index Securities’’) be calculated and
weighted following a specified
methodology; (ii) provide that indexes
based on the equal-dollar or modified
equal-dollar weighting methods be
rebalanced semi-annually rather than
quarterly, as is currently the case; and
(iii) eliminate the continued listing
requirement prohibiting an index from
increasing or decreasing by more than
331⁄3% from the number of index
components initially listed.
The text of the proposed rule change
is available at the Amex, at the
Commission’s Public Reference Room,
and at https://www.amex.com.
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,
its 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 III below. The
Exchange has prepared summaries, set
forth in sections A, B, and C below, of
the most significant aspects of such
statements.
January 15, 2008.
Pursuant to section 19(b)(1) of the
Securities Exchange Act of 1934
1 15
12 17
CFR 200.30–3(a)(12).
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20:38 Jan 18, 2008
2 17
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PO 00000
U.S.C. 78s(b)(l).
CFR 240.19b–4.
Frm 00103
Fmt 4703
Sfmt 4703
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
section 107D of the Company Guide to:
(i) Eliminate the requirement that an
eligible index for Index Securities be
calculated and weighted following a
specified methodology; (ii) provide that
indexes based on the equal-dollar or
modified equal-dollar weighting
methods be rebalanced semi-annually
rather than quarterly, as is currently the
case; and (iii) eliminate the continued
listing requirement prohibiting an index
from increasing or decreasing by more
than 331⁄3% from the number of index
components initially listed.
Generic Listing Standards—Index
Weighting Methodologies
Section 107D of the Company Guide
sets forth the generic listing standards
for Index Securities. The generic listing
standards permit the listing and trading
of various qualifying Index Securities,
subject to the procedures contained in
Rule 19b–4(e) under the Act.3 The
existence of generic listing standards
allows qualifying Index Securities to list
or trade without the need to file a rule
change for each security under Rule
19b–4 under the Act. By amending its
generic listing standards for Index
Securities, the Exchange intends to
reduce the timeframe for listing Index
Securities and thereby reduce the
burdens on issuers and other market
participants.
The generic listing standards for
Index Securities in section 107D(i)(i) of
the Company Guide currently provide
that eligible indexes must be calculated
based on either a capitalization,4
modified capitalization,5 price,6 equal3 17
CFR 240.19b–4(e).
‘‘capitalization-weighted’’ index is
constructed so that weightings are biased toward
the securities of larger companies. In calculating the
index value, the market price of each component
security is multiplied by the total number of shares
outstanding to determine the market capitalization
for each company in the index. The sum of the
market capitalizations of all components
determines the total capitalization for the index.
The total market capitalization is then divided by
an index divisor to scale the index to a desired
reference level, e.g. 100, to establish a baseline for
gauging future performance of the index. This will
allow a security’s size and capitalization to have a
greater impact on the value of the index.
5 A ‘‘modified capitalization-weighted’’ index is
weighted using criteria other than the total, actual
number of shares outstanding.
6 In a ‘‘price-weighted’’ index, the component
securities are included based on their price. The
value of the price-weighted index is calculated by
adding together the last transaction price for each
security in the index and dividing the resulting sum
by an index divisor to scale the index.
4A
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]]>Agencies
[Federal Register Volume 73, Number 14 (Tuesday, January 22, 2008)]
[Notices]
[Pages 3760-3762]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-968]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57145; File No. SR-Amex-2008-01]
Self-Regulatory Organizations; American Stock Exchange LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
Extending the Pilot Program Increasing Position and Exercise Limits for
Options on the iShares[supreg] Russell 2000[supreg] Index Fund
January 14, 2008.
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 January 10, 2008, the American Stock Exchange LLC (``Exchange'' or
``Amex'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have
[[Page 3761]]
been substantially prepared by the Exchange. The Exchange has
designated this proposal as non-controversial under Section
19(b)(3)(A)(iii) of the Act \3\ and Rule 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 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)(iii).
\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 extend the existing pilot program that
increases the position and exercise limits for options on the
iShares[supreg] Russell 2000[supreg] Index Fund (``IWM'') traded on the
Exchange (the ``IWM Pilot Program''). The text of the proposed rule
change is available on the Exchange's Web site (https://www.amex.com),
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
The Exchange proposes to extend the existing pilot program that
increases the position and exercise limits for options on the
iShares[supreg] Russell 2000[supreg] Index Fund (``IWM'') traded on the
Exchange (the ``IWM Pilot Program''). The IWM Pilot Program will allow
position and exercise limits for options on IWM to remain at 500,000
contracts on a pilot basis, through March 1, 2008.\5\
---------------------------------------------------------------------------
\5\ Pursuant to Rule 905, the exercise limit established for IWM
options shall be equivalent to the position limit prescribed for IWM
options in Commentary .07 to Rule 904. The increased exercise limits
would only be in effect during the pilot period.
---------------------------------------------------------------------------
The Exchange established the IWM Pilot Program in January 2007.\6\
The IWM Pilot Program was previously extended in June 2007 for a six-
month period through January 18, 2008.\7\ The Exchange is not proposing
any further changes to the IWM Pilot Program. The Exchange believes
that extending the IWM Pilot Program is warranted because the increased
position and exercise limits for IWM options will lead to a more liquid
and more competitive market environment for IWM options that will
benefit customers interested in this product. Finally, the Exchange
represents that it has not encountered any problems or difficulties
relating to the IWM Pilot Program since its inception. For the
foregoing reasons, the Exchange requests that the Commission extend the
IWM Pilot Program for the aforementioned additional period.
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 55163 (January 24,
2007), 72 FR 4547 (January 31, 2007) (SR-Amex-2007-11).
\7\ See Securities Exchange Act Release No. 56090 (July 18,
2007), 72 FR 40907 (July 25, 2007) (SR-Amex-2007-73).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with and furthers the objectives of Section 6(b)(5) of the Act \8\ in
that it is designed to promote just and equitable principles of trade,
to remove impediments to and perfect the mechanisms of a free and open
market and a national market system 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
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
The Exchange has designated the proposed rule change as one that:
(1) Does not significantly affect the protection of investors or the
public interest; (2) does not impose any significant burden on
competition; and (3) does not become operative for 30 days from the
date of filing, or such shorter time as the Commission may designate if
consistent with the protection of investors and the public interest.
Therefore, the foregoing rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act \9\ and subparagraph (f)(6) of Rule 19b-
4 thereunder.\10\ The Exchange has asked the Commission to waive the
operative delay to permit the Pilot Program extension to become
effective prior to the 30th day after filing.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78s(b)(3)(A).
\10\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to provide the Commission
with 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 Exchange has fulfilled this requirement.
---------------------------------------------------------------------------
The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest
because it will allow the benefits of the IWM Pilot Program to continue
without interruption.\11\ Therefore, the Commission designates the
proposal operative upon filing.
---------------------------------------------------------------------------
\11\ For 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).
---------------------------------------------------------------------------
At any time within 60 days of the filing of the proposed rule
change, the Commission may summarily abrogate the 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 rule-comments@sec.gov. Please include
File No. SR-Amex-2008-01 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.
[[Page 3762]]
All submissions should refer to File Number SR-Amex-2008-01. 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 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-Amex-2008-01 and should be
submitted on or before February 12, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
Florence E. Harmon,
Deputy Secretary.
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\12\ 17 CFR 200.30-3(a)(12).
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[FR Doc. E8-968 Filed 1-18-08; 8:45 am]
BILLING CODE 8011-01-P
