Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change, as Modified by Amendment No. 1 Thereto, Regarding the CBOE Stock Exchange Market Data Infrastructure Fee, 14515-14516 [E8-5354]

Download as PDF Federal Register / Vol. 73, No. 53 / Tuesday, March 18, 2008 / Notices Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57472; File No. SR–CBOE– 2008–24] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and All submissions should refer to File Immediate Effectiveness of Proposed Number SR–CBOE–2008–23. This file Rule Change, as Modified by number should be included on the subject line if e-mail is used. To help the Amendment No. 1 Thereto, Regarding the CBOE Stock Exchange Market Data Commission process and review your Infrastructure Fee comments more efficiently, please use only one method. The Commission will March 11, 2008. post all comments on the Commission’s Pursuant to Section 19(b)(1) of the Internet Web site (https://www.sec.gov/ Securities Exchange Act of 1934 rules/sro.shtml). Copies of the (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 submission, all subsequent notice is hereby given that on March 7, amendments, all written statements 2008, the Chicago Board Options Exchange, Incorporated (‘‘Exchange’’ or with respect to the proposed rule ‘‘CBOE’’) filed with the Securities and change that are filed with the Exchange Commission (‘‘Commission’’) Commission, and all written the proposed rule change as described communications relating to the in Items I, II, and III below, which Items proposed rule change between the Commission and any person, other than have been substantially prepared by the Exchange. On March 11, 2008, the those that may be withheld from the Exchange filed Amendment No. 1 to the public in accordance with the proposed rule change. The Exchange provisions of 5 U.S.C. 552, will be has designated this proposal as one available for inspection and copying in establishing a due, fee, or other charge the Commission’s Public Reference imposed by the Exchange under Section Room, 100 F Street, NE., Washington, 19(b)(3)(A) of the Act 3 and Rule 19b– DC 20549 on official business days 4(f)(2) thereunder,4 which renders it between the hours of 10 a.m. and 3 p.m.. effective upon filing with the Copies of such filing also will be Commission. The Commission is available for inspection and copying at publishing this notice to solicit the principal office of CBOE. All comments on the proposed rule change comments received will be posted from interested persons. without change; the Commission does I. Self-Regulatory Organization’s not edit personal identifying Statement of the Terms of Substance of information from submissions. You the Proposed Rule Change should submit only information that The Exchange proposes to amend the you wish to make available publicly. All CBOE Stock Exchange (‘‘CBSX’’) market submissions should refer to File Number SR–CBOE–2008–23 and should data infrastructure fee. The text of the be submitted on or before April 8, 2008. proposed rule change is available on the Exchange’s Web site (https:// For the Commission, by the Division of www.cboe.org/legal), at the Exchange’s Trading and Markets, pursuant to delegated principal office, and at the authority.10 Commission’s Public Reference Room. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–5353 Filed 3–17–08; 8:45 am] mstockstill on PROD1PC66 with NOTICES BILLING CODE 8011–01–P 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 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A). 4 17 CFR 240.19b–4(f)(2). 2 17 10 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 17:39 Mar 17, 2008 Jkt 214001 PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 14515 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 charges CBSX market participants a monthly fee to recoup the fees CBSX pays a third-party market data vendor and other parties to help establish facilities at CBSX through which the third-party market data vendor can provide CBSX participants with certain market data.5 Currently, the amount of the fee is equal to $19,400 divided by the number of CBSX participants receiving the market data. Recently, the Exchange’s costs to provide this infrastructure have increased. To help compensate CBSX for its increased costs in providing this infrastructure, the Exchange proposes to increase the fee to $20,400 divided by the number of CBSX participants receiving the market data. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act 6 in general, and furthers the objectives of Section 6(b)(4) of the Act 7 in particular, in that it is designed to provide for the equitable allocation of reasonable dues, fees, and other charges among its members. The Exchange believes the proposed fee will help allocate to each CBSX market participant receiving market data through this infrastructure a fair share of CBSX’s costs for providing this infrastructure. 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. 5 See Securities Exchange Act Release No. 55882 (June 8, 2007), 72 FR 32931 (June 14, 2007) (SR– CBOE–2007–54); and Securities Exchange Act Release No. 56231 (August 9, 2007), 72 FR 46118 (August 16, 2007) (SR–CBOE–2007–73). 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(4). E:\FR\FM\18MRN1.SGM 18MRN1 14516 Federal Register / Vol. 73, No. 53 / Tuesday, March 18, 2008 / Notices 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.10 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–CBOE–2008–24 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–2008–24. 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 Commissions 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 mstockstill on PROD1PC66 with NOTICES 8 15 U.S.C. 78s(b)(3)(A). CFR 19b–4(f)(2). 10 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 March 11, 2008, the date on which the Exchange filed Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C). 9 17 VerDate Aug<31>2005 17:39 Mar 17, 2008 Jkt 214001 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–CBOE–2008–24 and should be submitted on or before April 8, 2008. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.11 Florence E. Harmon, Deputy Secretary. [FR Doc. E8–5354 Filed 3–17–08; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57479; File No. SR–CHX– 2008–03] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Proposed Rule Change To Amend Rules Relating to Fingerprinting March 12, 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 February 26, 2008, the Chicago Stock Exchange, Inc. (‘‘CHX’’ 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 prepared by the CHX. 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 CHX proposes to amend its rules relating to the fingerprinting of Exchange staff and other persons. The text of this proposed rule change is available at the Exchange, the 11 17 CFR 200.30–3(a)(12). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 1 15 PO 00000 Frm 00088 Fmt 4703 Sfmt 4703 Commission’s Public Reference Room, and at https://www.chx.com/content/ Participant_Information/ Rules_Filings.html. 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 CHX included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received regarding the proposal. The text of these statements may be examined at the places specified in Item IV below. The CHX 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 As part of its trading model rule set, the Exchange included a fingerprint rule that requires the Exchange to conduct fingerprint-based background checks of Exchange staff, certain independent contractors and other persons that have regular access to the Exchange’s facilities and premises.3 The Exchange seeks to amend this rule to remove any requirement that the Exchange conduct these fingerprint-based background checks. The Exchange believes that, where appropriate, it can conduct necessary background checks of staff and consultants through more efficient means. This proposal has no impact on the fingerprinting obligations that apply to Exchange participants and participant firm personnel. The Exchange will continue to require its participants to adhere to applicable fingerprinting obligations.4 2. Statutory Basis The CHX believes the proposal is consistent with the requirements of the Act and the rules and regulations thereunder that are applicable to a national securities exchange, and, in particular, with the requirements of Section 6(b) of the Act.5 The proposed rule change is consistent with Section 6(b)(5) of the Act 6 because it would promote just and equitable principles of trade, remove impediments to, and 3 See Article 6, Rule 10(b) of the Exchange’s Rules. 4 See Article 6, Rule 10(a) of the Exchange’s Rules; see also Section 17(f)(2) of the Act (15 U.S.C. 78q(f)(2)) and Rule 17f–2 thereunder (17 CFR 240.17f–2). 5 15 U.S.C. 78f(b). 6 15 U.S.C. 78f(b)(5). E:\FR\FM\18MRN1.SGM 18MRN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 73, Number 53 (Tuesday, March 18, 2008)]
[Notices]
[Pages 14515-14516]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-5354]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57472; File No. SR-CBOE-2008-24]


Self-Regulatory Organizations; Chicago Board Options Exchange, 
Incorporated; Notice of Filing and Immediate Effectiveness of Proposed 
Rule Change, as Modified by Amendment No. 1 Thereto, Regarding the CBOE 
Stock Exchange Market Data Infrastructure Fee

March 11, 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 March 7, 2008, 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, II, and III below, which Items have been substantially 
prepared by the Exchange. On March 11, 2008, the Exchange filed 
Amendment No. 1 to the proposed rule change. The Exchange has 
designated this proposal as one establishing a due, fee, or other 
charge imposed by the Exchange under Section 19(b)(3)(A) of the Act \3\ 
and Rule 19b-4(f)(2) thereunder,\4\ which renders it 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).
    \4\ 17 CFR 240.19b-4(f)(2).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend the CBOE Stock Exchange (``CBSX'') 
market data infrastructure fee. The text of the proposed rule change is 
available on the Exchange's Web site (https://www.cboe.org/legal), 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 charges CBSX market participants a monthly fee to 
recoup the fees CBSX pays a third-party market data vendor and other 
parties to help establish facilities at CBSX through which the third-
party market data vendor can provide CBSX participants with certain 
market data.\5\ Currently, the amount of the fee is equal to $19,400 
divided by the number of CBSX participants receiving the market data. 
Recently, the Exchange's costs to provide this infrastructure have 
increased. To help compensate CBSX for its increased costs in providing 
this infrastructure, the Exchange proposes to increase the fee to 
$20,400 divided by the number of CBSX participants receiving the market 
data.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 55882 (June 8, 
2007), 72 FR 32931 (June 14, 2007) (SR-CBOE-2007-54); and Securities 
Exchange Act Release No. 56231 (August 9, 2007), 72 FR 46118 (August 
16, 2007) (SR-CBOE-2007-73).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act \6\ in general, and furthers the 
objectives of Section 6(b)(4) of the Act \7\ in particular, in that it 
is designed to provide for the equitable allocation of reasonable dues, 
fees, and other charges among its members. The Exchange believes the 
proposed fee will help allocate to each CBSX market participant 
receiving market data through this infrastructure a fair share of 
CBSX's costs for providing this infrastructure.
---------------------------------------------------------------------------

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

[[Page 14516]]

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.\10\
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    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 19b-4(f)(2).
    \10\ 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 March 11, 2008, the date on which the Exchange filed 
Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C).
---------------------------------------------------------------------------

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-CBOE-2008-24 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-2008-24. 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 Commissions 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-CBOE-2008-24 and should be submitted on 
or before April 8, 2008.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-5354 Filed 3-17-08; 8:45 am]
BILLING CODE 8011-01-P

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