Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change, and Amendment No. 1 Thereto, To Amend Rule 903C to Permit the Listing and Trading of Additional Index Options Series, 24098-24100 [E8-9523]

Download as PDF 24098 Federal Register / Vol. 73, No. 85 / Thursday, May 1, 2008 / Notices Merrimac Series [File No. 811–8741] Summary: Applicant, a feeder fund in a master-feeder structure, seeks an order declaring that it has ceased to be an investment company. On October 30, 2007, applicant made a liquidating distribution to its shareholders, based on net asset value. Expenses of $115,988 incurred in connection with the liquidation were paid by applicant. Applicant has retained $80,900 in cash to pay outstanding accrued expenses of the same amount. Filing Date: The application was filed on March 28, 2008. Applicant’s Address: 200 Clarendon St., 16th Floor, Boston, MA 02116. First Investors Single Payment and Periodic Payment Plans for the Accumulation of Shares of Vanguard Wellington Fund, Inc. [File No. 811– 343]; First Investors Single Payment and Periodic Payment Plans for the Accumulation of Shares of AMCAP Fund, Inc. [File No. 811–636]; First Investors Single Payment and Periodic Payment Plans for the Accumulation of Shares of Fundamental Investors, Inc. [File No. 811–818] Summary: Each applicant, a unit investment trust, seeks an order declaring that it has ceased to be an investment company. On or about June 19, 2001, January 10, 2007, and January 10, 2007, respectively, each applicant made a liquidating distribution to its unitholders, based on net asset value. Expenses of $1,313, $679, and $1,158, respectively, incurred in connection with each liquidation were paid by First Investors Corporation, applicants’ sponsor. Filing Date: The applications were filed on March 28, 2008. Applicants’ Address: 110 Wall St., New York, NY 10005. pwalker on PROD1PC71 with NOTICES ACM Managed Income Fund, Inc. [File No. 811–5643] Summary: Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. On August 29, 2007, applicant made a liquidating distribution to its shareholders, based on net asset value. Expenses of $100,000 incurred in connection with the liquidation were paid by applicant. Filing Date: The application was filed on April 2, 2008. Applicant’s Address: 1345 Avenue of the Americas, New York, NY 10105. VerDate Aug<31>2005 17:13 Apr 30, 2008 Jkt 214001 Topiary Fund for Benefit Plan Investors (BPI) LLC [File No. 811–21480]; Topiary Master Fund for Benefit Plan Investors (BPI) LLC [File No. 811–21605] Summary: Each applicant, a closedend investment company, seeks an order declaring that it has ceased to be an investment company. On September 30, 2007, applicants transferred their assets to Hatteras Multi-Strategy TEI Fund, L.P. and Hatteras Master Fund, L.P., respectively, based on net asset value. Expenses of approximately $130,000 incurred in connection with each reorganization were paid by DB Investment Managers, Inc., applicants’ investment adviser. Filing Dates: The applications were filed on December 26, 2007, and amended on March 27, 2008. Applicants’ Address: DB Investment Managers, Inc., 345 Park Ave., New York, NY 10154. AllianceBernstein High Yield Fund, Inc. [File No. 811–9160] Summary: Applicant seeks an order declaring that it has ceased to be an investment company. On January 25, 2008, applicant transferred its assets to AllianceBernstein High Income Fund, Inc. (formerly known as AllianceBernstein Emerging Market Debt Fund, Inc.) (‘‘acquiring fund’’), based on net asset value. Expenses of approximately $246,800 incurred in connection with the reorganization were paid by applicant and the acquiring fund. Filing Dates: The application was filed on February 21, 2008, and amended on April 2, 2008. Applicant’s Address: 1345 Avenue of the Americas, New York, NY 10105. Dreyfus Connecticut Intermediate Municipal Bond Fund [File No. 811– 6642] Summary: Applicant seeks an order declaring that it has ceased to be an investment company. On May 30, 2007, applicant transferred its assets to a corresponding series of Dreyfus Premier State Municipal Bond Fund, based on net asset value. Expenses of $42,930 incurred in connection with the reorganization were paid by The Dreyfus Corporation, applicant’s investment adviser. Filing Date: The application was filed on March 20, 2008. Applicant’s Address: c/o The Dreyfus Corporation, 200 Park Ave., New York, NY 10166. PO 00000 Frm 00061 Fmt 4703 Sfmt 4703 For the Commission, by the Division of Investment Management, pursuant to delegated authority. Florence E. Harmon, Deputy Secretary. [FR Doc. E8–9538 Filed 4–30–08; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57707; File No. SR–Amex– 2008–14] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change, and Amendment No. 1 Thereto, To Amend Rule 903C to Permit the Listing and Trading of Additional Index Options Series April 24, 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 20, 2008, the American Stock Exchange LLC (‘‘Amex’’ 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 Amex. On April 24, 2008, Amex submitted 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. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change Amex proposes to amend Rule 903C to permit the listing and trading of additional index options series that do not meet current requirements, if such options series are listed and traded on at least one other national securities exchange. For each additional options series listed by the Exchange pursuant to the amended rule, the Exchange would submit a proposed rule change with the Commission that is effective upon filing within the meaning of Section 19(b)(3)(A) under the Act. The text of the proposed rule change is available at Amex, the Commission’s Public Reference Room, and http:// www.amex.com. 1 15 2 17 E:\FR\FM\01MYN1.SGM U.S.C. 78s(b)(1). CFR 240.19b–4. 01MYN1 Federal Register / Vol. 73, No. 85 / Thursday, May 1, 2008 / 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, Amex 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. Amex 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 pwalker on PROD1PC71 with NOTICES 1. Purpose The Exchange proposes to add new Commentary .06 to Rule 903C to permit the listing and trading of additional index options series that do not meet current Rule 903C requirements, if such options series are listed on at least one other national securities exchange in accordance with the applicable rules of such exchange for the listing and trading of index options. For each additional options series listed by the Exchange pursuant to proposed Commentary .06, the Exchange would submit a proposed rule change with the Commission that is effective upon filing within the meaning of Section 19(b)(3)(A) under the Act. Rule 903C provides the mechanism for the Exchange to list or open options expiration month series on particular index options classes approved for listing and trading on the Exchange. In general, up to a six expiration month series may be listed at any one time. Amex Rule 903C(a) permits the Exchange to open options expiration month series on approved index options classes as follows: (i) Consecutive Month Series; (ii) Cycle Month Series; (iii) Long-Term Options Series; (iv) Short-Term (1 week) Options Series; and (v) Quarterly Options Series. This proposal seeks to permit the Exchange to list additional index options expiration month series if another options exchange does so, regardless of whether the additional series listing complies with the requirements of Rule 903C. Consecutive Month Series Under Rule 903C(a)(i), Consecutive Month Series options are a series of options, within a particular class of stock index options, having up to four consecutive expiration months which can be opened for simultaneous trading. VerDate Aug<31>2005 17:13 Apr 30, 2008 Jkt 214001 The shortest-term series permissible are series initially having no more than two months to expiration. Cycle Month Series Under Rule 903C(a)(ii), the Exchange may designate one expiration cycle for each class of stock index options, consisting of four calendar months occurring at three-month intervals. With respect to any particular class of stock index options, Cycle Month Series options expiring in three of the four cycle months designated by the Exchange for that class may be traded simultaneously with the shortest-term series initially having approximately three months to expiration. Long-Term Option Series Under Rule 903C(a)(iii), the Exchange may list series of options having up to sixty (60) months to expiration for any particular class of stock index options. These Long-term Options Series may be traded simultaneously with Consecutive Month Series options as well as Cycle Month Series options. Quarterly Options Series Under Rule 903C(a)(iv), the Exchange may list and trade options series that expire at the close of business on the last business day of a calendar quarter. Quarterly Options Series for up to five currently listed stock index options classes or options classes for options on ETFs may be listed. The Exchange may also list Quarterly Options Series on any options classes that are selected by other options exchanges. Short Term (1 Week) Option Series Under Rule 903C(a)(v), the Exchange may open for trading, on any business Friday, series of options that expire at the close of business on the following Friday. The Exchange may select up to five currently listed option classes on which Short Term Option Series may be opened. Additionally, the Exchange may list Short Term Option Series on any option classes that are selected by other options exchanges. Consistent with this proposal, the index options class must either be specifically reviewed and approved by the Commission under section 19(b)(2) of the 1934 Act and rules thereunder, or comply with Commentary .02 or .03 to Rule 901C, for the Exchange to be able to list the additional series. Amex believes the ability to list and trade additional series of an index options class that may not meet the requirements of Rule 903C if another options exchange lists such expiration month series is appropriate and necessary in order to remain PO 00000 Frm 00062 Fmt 4703 Sfmt 4703 24099 competitive and provide customers with the full offering of index option products. Although the proposal may result in an incremental increase in message and quote traffic for systems of the Exchange and the Options Price Reporting Authority (OPRA), the Exchange expects the operational impact of such increase in quote traffic to be minimal. 2. Statutory Basis The proposed rule change is consistent with Section 6(b) of the Act,3 in general, and furthers the objectives of Section 6(b)(5),4 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism 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 Written comments were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: A. By order approve such proposed rule change, or B. Institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change, as amended, is consistent with the Act. Comments may be submitted by any of the following methods: 3 15 4 15 E:\FR\FM\01MYN1.SGM U.S.C. 78f(b). U.S.C. 78f(b)(5). 01MYN1 24100 Federal Register / Vol. 73, No. 85 / Thursday, May 1, 2008 / Notices Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–Amex–2008–14 on the subject line. Paper Comments pwalker on PROD1PC71 with NOTICES • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, Station Place, 100 F Street, NE., Washington, DC 20549–1090. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–57712; File No. SR–Phlx– 2007–69] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Order Granting Approval of a Proposed Rule Change, as Modified by Amendment Nos. 1 and 2 Thereto, Relating to Obvious Errors April 24, 2008. I. Introduction On September 4, 2007, the Philadelphia Stock Exchange, Inc. (‘‘Phlx’’ or ‘‘Exchange’’) filed with the All submissions should refer to File Securities and Exchange Commission Number SR–Amex–2008–14. This file (‘‘Commission’’), pursuant to Section number should be included on the 19(b)(1) of the Securities Exchange Act subject line if e-mail is used. To help the of 1934 (‘‘Act’’) 1 and Rule 19b–4 Commission process and review your thereunder,2 a proposed rule change to comments more efficiently, please use amend Phlx Rule 1092, the Exchange’s only one method. The Commission will obvious error rule (‘‘Obvious Error post all comments on the Commission’s Rule’’). On February 29, 2008, the Internet Web site (http://www.sec.gov/ Exchange filed Amendment No. 1 to the rules/sro.shtml). Copies of the proposed rule change. On March 11, submission, all subsequent 2008, the Exchange filed Amendment amendments, all written statements No. 2 to the proposal. The proposed rule with respect to the proposed rule change, as modified, was published for change that are filed with the comment in the Federal Register on March 18, 2008.3 The Commission Commission, and all written received no comment letters on the communications relating to the proposal, as modified. This order proposed rule change between the Commission and any person, other than approves the proposed rule change, as modified by Amendment Nos. 1 and 2. those that may be withheld from the The Exchange proposes to amend public in accordance with the Rule 1092 to: (i) Change the definition provisions of 5 U.S.C. 552, will be of Theoretical Price to mean either the available for inspection and copying in last National Best Bid price, with the Commission’s Public Reference Room, on official business days between respect to an erroneous sell transaction or the last National Best Offer price, the hours of 10 a.m. and 3 p.m. Copies with respect to an erroneous buy of such filing also will be available for transaction, just prior to the trade; (ii) inspection and copying at the principal allow an Options Exchange Official 4 to office of Amex. All comments received establish the Theoretical Price when will be posted without change; the there are no quotes for comparison Commission does not edit personal purposes, or when the National Best identifying information from Bid/Offer (‘‘NBBO’’) for the affected submissions. You should submit only series, just prior to the erroneous information that you wish to make transaction, was at least two times the available publicly. All submissions permitted bid/ask differential permitted should refer to File Number SR–Amex– under Exchange Rule 1014(c)(1)(A)(i)(a); 2008–14 and should be submitted on or (iii) establish the Theoretical Price for before May 22, 2008. transactions occurring as part of the Exchange’s automated opening system For the Commission, by the Division of as the first quote after the transaction(s) Trading and Markets, pursuant to delegated in question that does not reflect the authority.5 erroneous transaction(s); (iv) determine Florence E. Harmon, the average quote width for the Deputy Secretary. underlying security by adding the quote [FR Doc. E8–9523 Filed 4–30–08; 8:45 am] widths of sample quotations at regular BILLING CODE 8010–01–P 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 Securities Exchange Act Release No. 57482 (March 12, 2008), 73 FR 14544. 4 See Phlx Rule 1(pp). 2 17 5 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 17:13 Apr 30, 2008 Jkt 214001 PO 00000 Frm 00063 Fmt 4703 Sfmt 4703 15-second intervals during the two minutes preceding and following an erroneous transaction; (v) delete the provision pertaining to trades that are automatically executed when the specialist or Registered Options Trader (‘‘ROT’’) sells $.10 or more below parity; (vi) permit nullification of transactions that occur during trading halts in the affected option on the Exchange or in the underlying security in specified situations; and (vii) increase the time period, which varies depending on the status of the party, within which a party who believes it participated in an erroneous transaction must notify the Exchange’s Market Surveillance Department, and allow a longer notification time period for certain erroneous transactions involving a nonbroker-dealer customer that occur as part of the Phlx’s automated opening process. The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange 5 and, in particular, the requirements of Section 6(b) of the Act 6 and the rules and regulations thereunder. Specifically, the Commission finds that the proposal is consistent with Section 6(b)(5) of the Act,7 in that the proposal is designed to promote just and equitable principles of trade, remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, protect investors and the public interest. The Commission considers that, in most circumstances, trades that are executed between parties should be honored. On rare occasions, the price of the executed trade indicates an ‘‘obvious error’’ may exist, suggesting that it is unrealistic to expect that the parties to the trade had come to a meeting of the minds regarding the terms of the transaction. In the Commission’s view, the determination of whether an ‘‘obvious error’’ has occurred should be based on specific and objective criteria and subject to specific and objective procedures. The Commission believes that the proposed revisions to the definition of Theoretical Price provide clear and objective standards for determining when an obvious price error exists. The Commission also believes that the proposed revisions to the time periods 5 In approving this proposal, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 6 15 U.S.C. 78f(b). 7 15 U.S.C. 78f(b)(5). E:\FR\FM\01MYN1.SGM 01MYN1

Agencies

[Federal Register Volume 73, Number 85 (Thursday, May 1, 2008)]
[Notices]
[Pages 24098-24100]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-9523]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57707; File No. SR-Amex-2008-14]


Self-Regulatory Organizations; American Stock Exchange LLC; 
Notice of Filing of Proposed Rule Change, and Amendment No. 1 Thereto, 
To Amend Rule 903C to Permit the Listing and Trading of Additional 
Index Options Series

April 24, 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 20, 2008, the American Stock Exchange LLC (``Amex'' 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 Amex. On 
April 24, 2008, Amex submitted 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.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    Amex proposes to amend Rule 903C to permit the listing and trading 
of additional index options series that do not meet current 
requirements, if such options series are listed and traded on at least 
one other national securities exchange. For each additional options 
series listed by the Exchange pursuant to the amended rule, the 
Exchange would submit a proposed rule change with the Commission that 
is effective upon filing within the meaning of Section 19(b)(3)(A) 
under the Act. The text of the proposed rule change is available at 
Amex, the Commission's Public Reference Room, and http://www.amex.com.

[[Page 24099]]

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, Amex 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. Amex 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 add new Commentary .06 to Rule 903C to 
permit the listing and trading of additional index options series that 
do not meet current Rule 903C requirements, if such options series are 
listed on at least one other national securities exchange in accordance 
with the applicable rules of such exchange for the listing and trading 
of index options. For each additional options series listed by the 
Exchange pursuant to proposed Commentary .06, the Exchange would submit 
a proposed rule change with the Commission that is effective upon 
filing within the meaning of Section 19(b)(3)(A) under the Act.
    Rule 903C provides the mechanism for the Exchange to list or open 
options expiration month series on particular index options classes 
approved for listing and trading on the Exchange. In general, up to a 
six expiration month series may be listed at any one time. Amex Rule 
903C(a) permits the Exchange to open options expiration month series on 
approved index options classes as follows: (i) Consecutive Month 
Series; (ii) Cycle Month Series; (iii) Long-Term Options Series; (iv) 
Short-Term (1 week) Options Series; and (v) Quarterly Options Series. 
This proposal seeks to permit the Exchange to list additional index 
options expiration month series if another options exchange does so, 
regardless of whether the additional series listing complies with the 
requirements of Rule 903C.

Consecutive Month Series

    Under Rule 903C(a)(i), Consecutive Month Series options are a 
series of options, within a particular class of stock index options, 
having up to four consecutive expiration months which can be opened for 
simultaneous trading. The shortest-term series permissible are series 
initially having no more than two months to expiration.

Cycle Month Series

    Under Rule 903C(a)(ii), the Exchange may designate one expiration 
cycle for each class of stock index options, consisting of four 
calendar months occurring at three-month intervals. With respect to any 
particular class of stock index options, Cycle Month Series options 
expiring in three of the four cycle months designated by the Exchange 
for that class may be traded simultaneously with the shortest-term 
series initially having approximately three months to expiration.

Long-Term Option Series

    Under Rule 903C(a)(iii), the Exchange may list series of options 
having up to sixty (60) months to expiration for any particular class 
of stock index options. These Long-term Options Series may be traded 
simultaneously with Consecutive Month Series options as well as Cycle 
Month Series options.

Quarterly Options Series

    Under Rule 903C(a)(iv), the Exchange may list and trade options 
series that expire at the close of business on the last business day of 
a calendar quarter. Quarterly Options Series for up to five currently 
listed stock index options classes or options classes for options on 
ETFs may be listed. The Exchange may also list Quarterly Options Series 
on any options classes that are selected by other options exchanges.

Short Term (1 Week) Option Series

    Under Rule 903C(a)(v), the Exchange may open for trading, on any 
business Friday, series of options that expire at the close of business 
on the following Friday. The Exchange may select up to five currently 
listed option classes on which Short Term Option Series may be opened. 
Additionally, the Exchange may list Short Term Option Series on any 
option classes that are selected by other options exchanges.
    Consistent with this proposal, the index options class must either 
be specifically reviewed and approved by the Commission under section 
19(b)(2) of the 1934 Act and rules thereunder, or comply with 
Commentary .02 or .03 to Rule 901C, for the Exchange to be able to list 
the additional series. Amex believes the ability to list and trade 
additional series of an index options class that may not meet the 
requirements of Rule 903C if another options exchange lists such 
expiration month series is appropriate and necessary in order to remain 
competitive and provide customers with the full offering of index 
option products. Although the proposal may result in an incremental 
increase in message and quote traffic for systems of the Exchange and 
the Options Price Reporting Authority (OPRA), the Exchange expects the 
operational impact of such increase in quote traffic to be minimal.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the 
Act,\3\ in general, and furthers the objectives of Section 6(b)(5),\4\ 
in particular, in that it is designed to prevent fraudulent and 
manipulative acts and practices, to promote just and equitable 
principles of trade, to remove impediments to and perfect the mechanism 
of a free and open market and a national market system, and, in general 
to protect investors and the public interest.
---------------------------------------------------------------------------

    \3\ 15 U.S.C. 78f(b).
    \4\ 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

    Written comments were neither solicited nor received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    Within 35 days of the date of publication of this notice in the 
Federal Register or within such longer period (i) as the Commission may 
designate up to 90 days of such date if it finds such longer period to 
be appropriate and publishes its reasons for so finding or (ii) as to 
which the self-regulatory organization consents, the Commission will:
    A. By order approve such proposed rule change, or
    B. Institute proceedings to determine whether the proposed rule 
change should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change, as amended, is consistent with the Act. Comments may be 
submitted by any of the following methods:

[[Page 24100]]

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File No. SR-Amex-2008-14 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number SR-Amex-2008-14. 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 (http://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, 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 
Amex. 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-2008-14 and should be submitted on or before May 22, 2008.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\5\
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    \5\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E8-9523 Filed 4-30-08; 8:45 am]
BILLING CODE 8010-01-P