Submission for OMB Review; Comment Request, 6224-6225 [E8-1844]
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6224
Federal Register / Vol. 73, No. 22 / Friday, February 1, 2008 / Notices
Martinson, 6432 General Green Way,
Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov.
Comments must be submitted to OMB
within 30 days of this notice.
Dated: January 28, 2008.
Nancy M. Morris,
Secretary.
[FR Doc. E8–1841 Filed 1–31–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
mstockstill on PROD1PC66 with NOTICES
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Rule 203–2 and Form ADV–W; SEC
File No. 270–40; OMB Control No.
3235–0313.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
The title for the collection of
information is ‘‘Rule 203–2 (17 CFR
275.203–2) and Form ADV–W (17 CFR
279.2) under the Investment Advisers
Act of 1940 (15 U.S.C. 80b).’’ Rule 203–
2 under the Investment Advisers Act of
1940 establishes procedures for an
investment adviser to withdraw its
registration with the Commission. Rule
203–2 requires every person
withdrawing from investment adviser
registration with the Commission to file
Form ADV–W electronically on the
Investment Adviser Registration
Depository (‘‘IARD’’). The purpose of
the information collection is to notify
the Commission and the public when an
investment adviser withdraws its
pending or approved SEC registration.
Typically, an investment adviser files a
Form ADV–W when it ceases doing
business or when it is ineligible to
remain registered with the Commission.
The potential respondents to this
information collection are all
investment advisers registered with the
Commission. The Commission has
estimated that compliance with the
requirement to complete Form ADV–W
imposes a total burden of approximately
0.75 hours (45 minutes) for an adviser
filing for full withdrawal and
approximately 0.25 hours (15 minutes)
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18:22 Jan 31, 2008
Jkt 214001
for an adviser filing for partial
withdrawal. Based on historical filings,
the Commission estimates that there are
approximately 500 respondents
annually filing for full withdrawal and
approximately 500 respondents
annually filing for partial withdrawal.
Based on these estimates, the total
estimated annual burden would be 500
hours ((500 respondents × .75 hours) +
(500 respondents × .25 hours)).
Rule 203–2 and Form ADV–W do not
require recordkeeping or records
retention. The collection of information
requirements under the rule and form
are mandatory. The information
collected pursuant to the rule and Form
ADV–W are filings with the
Commission. These filings are not kept
confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid control number.
Please direct general comments
regarding the above information to the
following persons: (i) Desk Officer for
the Securities and Exchange
Commission, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503
or e-mail to:
Alexander_T._Hunt@omb.eop.gov; and
(iii) R. Corey Booth, Director/Chief
Information Officer, Securities and
Exchange Commission, C/O Shirley
Martinson, 6432 General Green Way,
Alexandria, VA 22312 or send an e-mail
to: PRA_Mailbox@sec.gov. Comments
must be submitted to OMB within 30
days of this notice.
Dated: January 28, 2007.
Nancy M. Morris,
Secretary.
[FR Doc. E8–1843 Filed 1–31–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
Submission for OMB Review;
Comment Request
Upon Written Request, Copies Available
From: Securities and Exchange
Commission, Office of Investor
Education and Advocacy,
Washington, DC 20549–0213.
Extension:
Rule 203–3, Form ADV–H; SEC File
No. 270–481; OMB Control No.
3235–0538.
Notice is hereby given that pursuant
to the Paperwork Reduction Act of 1995
(44 U.S.C. 3501 et seq.) the Securities
and Exchange Commission
(‘‘Commission’’) has submitted to the
PO 00000
Frm 00116
Fmt 4703
Sfmt 4703
Office of Management and Budget a
request for extension of the previously
approved collection of information
discussed below.
The title for the collection of
information is ‘‘Rule 203–3 and Form
ADV–H under the Investment Advisers
Act of 1940.’’ Rule 203–3 (17 CFR
275.203–3) under the Investment
Advisers Act of 1940 (15 U.S.C. 80b)
establishes procedures for an
investment adviser to obtain a hardship
exemption from the electronic filing
requirements of the Investment Advisers
Act. Rule 203–3 requires every person
requesting a hardship exemption to file
Form ADV–H (17 CFR 279.3) with the
Commission. The purpose of this
collection of information is to permit
advisers to obtain a hardship
exemption, on a continuing or
temporary basis, to not complete an
electronic filing. The temporary
hardship exemption permits advisers to
make late filings due to unforeseen
computer or software problems, while
the continuing hardship exemption
permits advisers to submit all required
electronic filings on hard copy for data
entry by the operator of the IARD.
The respondents to the collection of
information are all investment advisers
that are registered with the Commission.
The Commission has estimated that
compliance with the requirement to
complete Form ADV–H imposes a total
burden of approximately 1 hour for an
adviser. Based on our experience with
hardship filings, we estimate that we
will receive 11 Form ADV–H filings
annually. Based on the 60 minute per
respondent estimate, the Commission
estimates a total annual burden of 11
hours for this collection of information.
Rule 203–3 and Form ADV–H do not
require recordkeeping or records
retention. The collection of information
requirements under the rule and form
are mandatory. The information
collected pursuant to the rule and Form
ADV–H consists of filings with the
Commission. These filings are not kept
confidential. An agency may not
conduct or sponsor, and a person is not
required to respond to, a collection of
information unless it displays a
currently valid control number.
Please direct general comments
regarding the above information to the
following persons: (i) Desk Officer for
the Securities and Exchange
Commission, Office of Management and
Budget, Room 10102, New Executive
Office Building, Washington, DC 20503
or e-mail to:
Alexander_T._Hunt@omb.eop.gov; and
(ii) R. Corey Booth, Director/Chief
Information Officer, Securities and
Exchange Commission, C/O Shirley
E:\FR\FM\01FEN1.SGM
01FEN1
Federal Register / Vol. 73, No. 22 / Friday, February 1, 2008 / Notices
Martinson, 6432 General Green Way,
Alexandria, VA 22312; or send an email to: PRA_Mailbox@sec.gov.
Comments must be submitted to OMB
within 30 days of this notice.
Dated: January 28, 2008.
Nancy M. Morris,
Secretary.
[FR Doc. E8–1844 Filed 1–31–08; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57207; File No. SR–ISE–
2007–95]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing of a Proposed
Rule Change, as Modified by
Amendment Nos. 2 and 3, Relating to
Reserve Orders
January 25, 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 October
12, 2007, the International Securities
Exchange, LLC (‘‘ISE’’ 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 ISE filed Amendment
Nos. 1 and 2 to the proposal on January
17, 2008.3 On January 25, 2008, the ISE
filed Amendment No. 3 to the proposed
rule change.4 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 add a new
order type called Reserve Orders. The
text of the proposed rule change is
available at the Exchange, the
Commission’s Public Reference Room,
and https://www.ise.com.
mstockstill on PROD1PC66 with 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,
1 15
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 Amendment No. 2 replaces the original filing
and Amendment No. 1 in their entirety.
4 Amendment No. 3 clarifies portions of the
purpose section of the proposed rule change.
2 17
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18:22 Jan 31, 2008
Jkt 214001
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 implement
a new order type called Reserve Orders.
A Reserve Order is a single-sided limit
order that resides in the Exchange’s
regular limit order book and has both a
displayed portion and a non-displayed
or reserve portion. The displayed
portion would behave exactly like a
regular order and would trade in
accordance with the Exchange’s
standard allocation rules, i.e., time
priority for customers and pro-rata for
non-customers.5 The following
examples illustrate how Reserve Orders
will trade on the Exchange:
Example 1:
The Exchange’s order book shows the
following at the Best Bid:
10 contracts (100 contracts in reserve)—
Customer 1
12 contracts—Customer 2
25 contracts—Competitive Market
Maker
20 contracts (500 contracts in reserve)—
Broker/Dealer
An order comes in to sell 50 contracts
at market. This order would be executed
with the displayed customer orders
trading in time priority followed by
non-customers pro-rata, as follows:
10 contracts trade with Customer 1
12 contracts trade with Customer 2
16 contracts trade with Competitive
Market Maker (‘‘CMM’’): This
allocation is calculated as follows:
(25/45) × 28, where the numerator
(25) is the number of contracts that a
CMM is willing to trade, and the
denominator (45) is the number of
contracts that are available for
execution. The resulting number
(0.5555) is then multiplied by the
number of contracts that have not
been executed (28).
The remaining 11 contracts trade with
the Broker/Dealer.
Example 2:
The Exchange’s order book shows the
same at the Best Bid as in Example 1:
An order to sell 200 contracts at market
will be executed as follows:
5 See ISE Rule 713 and Supplementary Material
.01 thereto.
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6225
10 contracts trade with Customer 1
12 contracts trade with Customer 2
25 contracts trade with CMM
20 contracts trade with the Broker/
Dealer
100 contracts (the entire reserve portion
of Customer 1) trade with Customer 1
33 contracts (from the 500 contracts in
reserve) trade with the Broker/Dealer
When the displayed portion of a
Reserve Order is decremented, either in
full or in part, it shall be refreshed from
the non-displayed portion of the resting
Reserve Order. If the displayed portion
is refreshed in part, the new displayed
portion shall include the previously
displayed portion. Upon any refresh, the
entire displayed portion shall be ranked
at the specified limit price, assigned a
new entry time and given priority in
accordance with Rule 713.
The non-displayed portion of Reserve
Orders shall be ranked based on the
specified limit price and the time of
order entry. Upon any refresh, any
remaining non-displayed portion shall
be assigned a new time stamp, same as
that assigned to the newly displayed
portion. The non-displayed portion of
any Reserve Order is available for
execution only after all displayed
interest has been executed.
The Exchange notes that the full size,
i.e., both the displayed and nondisplayed portions, of an incoming
Reserve Order will be available for
execution if that incoming order is
marketable. Further, in the event an
incoming order is large enough to trade
through all displayed quantities, the
non-displayed quantities of all resting
Reserve Orders will be eligible to trade,
again in accordance with the Exchange’s
standard allocation rules.
The Exchange believes that the new
order type proposed in this rule change
will provide greater flexibility to
members to control their orders. By
offering this new order type, members
will be able to determine how much of
their order they want disseminated at
any point in time and help them
eliminate the need to enter multiple
orders in one series. The Exchange
states that this new functionality will be
purely voluntary and is similar to that
currently offered 6 or proposed 7 by
other options exchanges.
2. Statutory Basis
The Exchange believes the proposed
rule change is consistent with Section
6 See
NYSE Arca Rule 6.76(a).
Securities Exchange Act Release No. 55667
(April 25, 2007), 72 FR 23869 (May 1, 2007) (SR–
NASDAQ–2007–004) (Notice of Filing of Proposed
Rule Change and Amendment No. 1 To Establish
Rules Governing the Trading of Options on the
NASDAQ Options Market).
7 See
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01FEN1
Agencies
[Federal Register Volume 73, Number 22 (Friday, February 1, 2008)]
[Notices]
[Pages 6224-6225]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-1844]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
Submission for OMB Review; Comment Request
Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
Rule 203-3, Form ADV-H; SEC File No. 270-481; OMB Control No. 3235-
0538.
Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.) the Securities and Exchange Commission
(``Commission'') has submitted to the Office of Management and Budget a
request for extension of the previously approved collection of
information discussed below.
The title for the collection of information is ``Rule 203-3 and
Form ADV-H under the Investment Advisers Act of 1940.'' Rule 203-3 (17
CFR 275.203-3) under the Investment Advisers Act of 1940 (15 U.S.C.
80b) establishes procedures for an investment adviser to obtain a
hardship exemption from the electronic filing requirements of the
Investment Advisers Act. Rule 203-3 requires every person requesting a
hardship exemption to file Form ADV-H (17 CFR 279.3) with the
Commission. The purpose of this collection of information is to permit
advisers to obtain a hardship exemption, on a continuing or temporary
basis, to not complete an electronic filing. The temporary hardship
exemption permits advisers to make late filings due to unforeseen
computer or software problems, while the continuing hardship exemption
permits advisers to submit all required electronic filings on hard copy
for data entry by the operator of the IARD.
The respondents to the collection of information are all investment
advisers that are registered with the Commission. The Commission has
estimated that compliance with the requirement to complete Form ADV-H
imposes a total burden of approximately 1 hour for an adviser. Based on
our experience with hardship filings, we estimate that we will receive
11 Form ADV-H filings annually. Based on the 60 minute per respondent
estimate, the Commission estimates a total annual burden of 11 hours
for this collection of information.
Rule 203-3 and Form ADV-H do not require recordkeeping or records
retention. The collection of information requirements under the rule
and form are mandatory. The information collected pursuant to the rule
and Form ADV-H consists of filings with the Commission. These filings
are not kept confidential. An agency may not conduct or sponsor, and a
person is not required to respond to, a collection of information
unless it displays a currently valid control number.
Please direct general comments regarding the above information to
the following persons: (i) Desk Officer for the Securities and Exchange
Commission, Office of Management and Budget, Room 10102, New Executive
Office Building, Washington, DC 20503 or e-mail to: Alexander--T.--
Hunt@omb.eop.gov; and (ii) R. Corey Booth, Director/Chief Information
Officer, Securities and Exchange Commission, C/O Shirley
[[Page 6225]]
Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-
mail to: PRA_Mailbox@sec.gov. Comments must be submitted to OMB within
30 days of this notice.
Dated: January 28, 2008.
Nancy M. Morris,
Secretary.
[FR Doc. E8-1844 Filed 1-31-08; 8:45 am]
BILLING CODE 8011-01-P