Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Regarding Fees for Enhanced Sentiment Market Data, 35427-35428 [E8-14060]
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Federal Register / Vol. 73, No. 121 / Monday, June 23, 2008 / Notices
SECURITIES AND EXCHANGE
COMMISSION
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold a Closed Meeting
on June 26, 2008 at 10 a.m.
Commissioners, Counsel to the
Commissioners, the Secretary to the
Commission, and recording secretaries
will attend the Closed Meeting. Certain
staff members who have an interest in
the matters also may be present.
The General Counsel of the
Commission, or his designee, has
certified that, in his opinion, one or
more of the exemptions set forth in 5
U.S.C. 552b(c)(5), (7), (9)(B), and (10)
and 17 CFR 200.402(a)(5), (7), 9(ii) and
(10), permit consideration of the
scheduled matters at the Closed
Meeting.
Commissioner Atkins, as duty officer,
voted to consider the items listed for the
Closed Meeting in closed session.
The subject matter of the Closed
Meeting scheduled for June 26, 2008
will be:
Formal orders of investigation;
Institution and settlement of
injunctive actions;
Institution and settlement of
administrative proceedings of an
enforcement nature;
Adjudicatory matters; and
Other matters related to enforcement
proceedings.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
Dated: June 18, 2008
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–14160 Filed 6–20–08; 8:45 am]
BILLING CODE 8010–01–P
mmaher on PROD1PC70 with NOTICES
Sunshine Act Meeting
Notice is hereby given, pursuant to
the provisions of the Government in the
Sunshine Act, Public Law 94–409, that
the Securities and Exchange
Commission will hold an Open Meeting
on June 25, 2008 at 10 a.m., in the
Auditorium, Room L–002.
01:51 Jun 21, 2008
Jkt 214001
Dated: June 18, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–14166 Filed 6–20–08; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–57972; File No. SR–ISE–
2008–44]
Self-Regulatory Organizations;
International Securities Exchange,
LLC; Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change Regarding Fees for Enhanced
Sentiment Market Data
SECURITIES AND EXCHANGE
COMMISSION
VerDate Aug<31>2005
The subject matters of the Open
Meeting will be:
1. The Commission will consider
whether to propose rule and form
amendments with respect to references
in various Commission rules and forms
to ratings by Nationally Recognized
Statistical Rating Organizations
(NRSROs).
2. The Commission will consider
whether to issue guidance and an
amendment to its rules relating to
Organization and Program Management
concerning proposed rule changes filed
by self-regulatory organizations
pursuant to Section 19(b) of the
Securities Exchange Act of 1934 and
processed by the Division of Trading
and Markets.
3. The Commission will consider
whether to propose amendments to
Exchange Act Rule 15a–6 relating to
broker-dealer registration for foreign
brokers or dealers engaged in certain
U.S. activities.
4. The Commission will consider
whether to propose amendments that
would define terms related to annuity
contracts under the Securities Act of
1933, and whether to propose
amendments related to periodic
reporting requirements under the
Securities Exchange Act of 1934.
At times, changes in Commission
priorities require alterations in the
scheduling of meeting items.
For further information and to
ascertain what, if any, matters have been
added, deleted or postponed, please
contact:
The Office of the Secretary at (202)
551–5400.
June 16, 2008.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
1 15
2 17
PO 00000
U.S.C. 78s(b)(1).
CFR 240.19b–4.
Frm 00062
Fmt 4703
Sfmt 4703
35427
notice is hereby given that on June 9,
2008, the International Securities
Exchange, LLC (the ‘‘Exchange’’ or the
‘‘ISE’’) filed with the Securities and
Exchange Commission (the
‘‘Commission’’) the proposed rule
change as described in Items I, II, and
III below, which items have been
prepared by the self-regulatory
organization. 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 ISE is proposing to amend its
Schedule of Fees to remove fees for
enhanced sentiment market data. The
text of the proposed rule change is
available on the Exchange’s Web site
(https://www.ise.com), at the principal
office of the Exchange, 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
ISE 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 ISE 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
Pursuant to a filing previously
approved by the Commission, the
Exchange currently sells on a
subscription basis, to both members and
non-members, an enhanced sentiment
market data offering that is geared
primarily to retail investors.3 This
offering is based on the ISE Sentiment
Index, or ISEE, a calculation that
represents an overall view of market
sentiment. The ISEE provides an intraday picture of how investors view stock
prices by assessing customers’ option
3 See Securities Exchange Act Release Nos. 53532
(March 21, 2006), 71 FR 15501 (March 28, 2006)
(SR–ISE–2005–56) (Notice of Filing of Proposed
Rule Change to Establish Fees for Enhanced
Sentiment Market Data); 53756 (May 3, 2006), 71 FR
27526 (May 11, 2006) (SR–ISE–2005–56) (Order
Approving Proposed Rule Change to Establish Fees
for Enhanced Sentiment Market Data) (the ‘‘Initial
Filing’’).
E:\FR\FM\23JNN1.SGM
23JNN1
35428
Federal Register / Vol. 73, No. 121 / Monday, June 23, 2008 / Notices
mmaher on PROD1PC70 with NOTICES
trading activity. Unlike the traditional
put/call ratio, which makes no
distinction between customer, market
maker or firm transactions, the ISEE
measures only opening long customer
transactions on the ISE. The ISE updates
the current ISEE value hourly during
market hours and posts it for free on its
Web site.4
This retail-oriented enhanced
sentiment market data offering is
available to on-line investors on a
subscription basis and is also offered by
third parties that participate in the
Exchange’s Marketing Alliance
program.5
The Exchange subsequently also
introduced multi-product discounts for
subscriptions to this offering.6
The Exchange currently also sells on
a subscription basis, to both members
and non-members, an enhanced
sentiment market data offering that is
geared primarily to institutional
subscribers.7 This institution-oriented
enhanced sentiment market data
offering is a data feed that provides a
bulk delivery of up to 1,700 ISEE Select
values.8
The Exchange has now determined,
for business reasons, to terminate,
effective August 1, 2008, the retailoriented enhanced sentiment market
data offering. Accordingly, the Exchange
proposes to remove reference to this
product and associated fees from its fee
schedule. The Exchange is not
proposing to make any changes to the
institution-oriented enhanced sentiment
4 https://www.iseoptions.com/marketplace/
statistics/sentiment_index.asp.
5 When the Commission published the Initial
Filing, the Marketing Alliance program was known
as the ISE Broker Marketing Alliance, and
participation in it was limited to broker-dealers.
Following the launch of the ISEE Select market data
offering, and in response to the interest the
Exchange received from many non-broker-dealers
wishing to participate in the Marketing Alliance
program, the Exchange subsequently expanded the
program by eliminating its limitation to only
broker-dealers. See Securities Exchange Act Release
Nos. 54508 (September 26, 2006), 71 FR 58459
(October 3, 2006) (SR–ISE–2006–44) (Notice of
Filing of Proposed Rule Change to Expand the
Broker Marketing Alliance to Include Non-BrokerDealers with Regard to Enhanced Sentiment Market
Data Offering); 54704 (November 3, 2006), 71 FR
65859 (November 9, 2006) (SR–ISE–2006–44)
(Order Approving Proposed Rule Change to Expand
the Broker Marketing Alliance to Include NonBroker-Dealers with Regard to Enhanced Sentiment
Market Data Offering).
6 See Securities Exchange Act Release No. 55288
(February 13, 2007), 72 FR 8219 (February 23, 2007)
(SR–ISE–2007–09) (Notice of Filing and Immediate
Effectiveness of Proposed Rule Change to Establish
Fee Discounts for Enhanced Sentiment Market Data
Offering).
7 See Securities Exchange Act Release No. 56315
(August 24, 2007), 72 FR 50148 (August 30, 2007)
(SR–ISE–2007–58).
8 Id.
VerDate Aug<31>2005
01:51 Jun 21, 2008
Jkt 214001
market data offering, known as the ISEE
Select Data Feed, as that offering will
continue to be sold by ISE.
2. Statutory Basis
The basis under the Act for this
proposed rule change is the requirement
under Section 6(b)(4),9 that an exchange
have an equitable allocation of
reasonable dues, fees and other charges
among its members and other persons
using its facilities.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The proposed rule change does not
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
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any
unsolicited written comments from
members or other interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change: (1) Does not significantly affect
the protection of investors or the public
interest; (2) does not impose any
significant burden on competition; and
(3) by its terms does not become
operative for 30 days after the date of
this filing, or such shorter time as the
Commission may designate if consistent
with the protection of investors and the
public interest, the proposed rule
change has become effective pursuant to
Section 19(b)(3)(A) of the Act 10 and
Rule 19b–4(f)(6) thereunder.11
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.
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.
9 15
U.S.C. 78f(b)(4).
U.S.C. 78s(b)(3)(A).
11 17 CFR 240.19b–4(f)(6).
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–ISE–2008–44 on the subject
line.
Paper Comments
• Send paper comments in triplicate
to Secretary, Securities and Exchange
Commission, 100 F Street, NE.,
Washington, DC 20549–1090.
All submissions should refer to File
Number SR–ISE–2008–44. 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 ISE. 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–ISE–2008–44 and should be
submitted on or before July 14, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.12
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–14060 Filed 6–20–08; 8:45 am]
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10 15
PO 00000
Frm 00063
Fmt 4703
Sfmt 4703
12 17
E:\FR\FM\23JNN1.SGM
CFR 200.30–3(a)(12).
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]]>Agencies
[Federal Register Volume 73, Number 121 (Monday, June 23, 2008)]
[Notices]
[Pages 35427-35428]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-14060]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-57972; File No. SR-ISE-2008-44]
Self-Regulatory Organizations; International Securities Exchange,
LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule
Change Regarding Fees for Enhanced Sentiment Market Data
June 16, 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 June 9, 2008, the International Securities Exchange, LLC (the
``Exchange'' or the ``ISE'') filed with the Securities and Exchange
Commission (the ``Commission'') the proposed rule change as described
in Items I, II, and III below, which items have been prepared by the
self-regulatory organization. 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.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The ISE is proposing to amend its Schedule of Fees to remove fees
for enhanced sentiment market data. The text of the proposed rule
change is available on the Exchange's Web site (https://www.ise.com), at
the principal office of the Exchange, 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 ISE 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 ISE 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
Pursuant to a filing previously approved by the Commission, the
Exchange currently sells on a subscription basis, to both members and
non-members, an enhanced sentiment market data offering that is geared
primarily to retail investors.\3\ This offering is based on the ISE
Sentiment Index[supreg], or ISEE[supreg], a calculation that represents
an overall view of market sentiment. The ISEE provides an intra-day
picture of how investors view stock prices by assessing customers'
option
[[Page 35428]]
trading activity. Unlike the traditional put/call ratio, which makes no
distinction between customer, market maker or firm transactions, the
ISEE measures only opening long customer transactions on the ISE. The
ISE updates the current ISEE value hourly during market hours and posts
it for free on its Web site.\4\
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release Nos. 53532 (March 21,
2006), 71 FR 15501 (March 28, 2006) (SR-ISE-2005-56) (Notice of
Filing of Proposed Rule Change to Establish Fees for Enhanced
Sentiment Market Data); 53756 (May 3, 2006), 71 FR 27526 (May 11,
2006) (SR-ISE-2005-56) (Order Approving Proposed Rule Change to
Establish Fees for Enhanced Sentiment Market Data) (the ``Initial
Filing'').
\4\ https://www.iseoptions.com/marketplace/statistics/sentiment_
index.asp.
---------------------------------------------------------------------------
This retail-oriented enhanced sentiment market data offering is
available to on-line investors on a subscription basis and is also
offered by third parties that participate in the Exchange's Marketing
Alliance program.\5\
---------------------------------------------------------------------------
\5\ When the Commission published the Initial Filing, the
Marketing Alliance program was known as the ISE Broker Marketing
Alliance, and participation in it was limited to broker-dealers.
Following the launch of the ISEE Select market data offering, and in
response to the interest the Exchange received from many non-broker-
dealers wishing to participate in the Marketing Alliance program,
the Exchange subsequently expanded the program by eliminating its
limitation to only broker-dealers. See Securities Exchange Act
Release Nos. 54508 (September 26, 2006), 71 FR 58459 (October 3,
2006) (SR-ISE-2006-44) (Notice of Filing of Proposed Rule Change to
Expand the Broker Marketing Alliance to Include Non-Broker-Dealers
with Regard to Enhanced Sentiment Market Data Offering); 54704
(November 3, 2006), 71 FR 65859 (November 9, 2006) (SR-ISE-2006-44)
(Order Approving Proposed Rule Change to Expand the Broker Marketing
Alliance to Include Non-Broker-Dealers with Regard to Enhanced
Sentiment Market Data Offering).
---------------------------------------------------------------------------
The Exchange subsequently also introduced multi-product discounts
for subscriptions to this offering.\6\
---------------------------------------------------------------------------
\6\ See Securities Exchange Act Release No. 55288 (February 13,
2007), 72 FR 8219 (February 23, 2007) (SR-ISE-2007-09) (Notice of
Filing and Immediate Effectiveness of Proposed Rule Change to
Establish Fee Discounts for Enhanced Sentiment Market Data
Offering).
---------------------------------------------------------------------------
The Exchange currently also sells on a subscription basis, to both
members and non-members, an enhanced sentiment market data offering
that is geared primarily to institutional subscribers.\7\ This
institution-oriented enhanced sentiment market data offering is a data
feed that provides a bulk delivery of up to 1,700 ISEE Select
values.\8\
---------------------------------------------------------------------------
\7\ See Securities Exchange Act Release No. 56315 (August 24,
2007), 72 FR 50148 (August 30, 2007) (SR-ISE-2007-58).
\8\ Id.
---------------------------------------------------------------------------
The Exchange has now determined, for business reasons, to
terminate, effective August 1, 2008, the retail-oriented enhanced
sentiment market data offering. Accordingly, the Exchange proposes to
remove reference to this product and associated fees from its fee
schedule. The Exchange is not proposing to make any changes to the
institution-oriented enhanced sentiment market data offering, known as
the ISEE Select Data Feed, as that offering will continue to be sold by
ISE.
2. Statutory Basis
The basis under the Act for this proposed rule change is the
requirement under Section 6(b)(4),\9\ that an exchange have an
equitable allocation of reasonable dues, fees and other charges among
its members and other persons using its facilities.
---------------------------------------------------------------------------
\9\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement on Burden on Competition
The proposed rule change does not 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
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any unsolicited written comments from members or other interested
parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change: (1) Does not
significantly affect the protection of investors or the public
interest; (2) does not impose any significant burden on competition;
and (3) by its terms does not become operative for 30 days after the
date of this filing, or such shorter time as the Commission may
designate if consistent with the protection of investors and the public
interest, the proposed rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act \10\ and Rule 19b-4(f)(6)
thereunder.\11\
---------------------------------------------------------------------------
\10\ 15 U.S.C. 78s(b)(3)(A).
\11\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------
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.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-ISE-2008-44 on the subject line.
Paper Comments
Send paper comments in triplicate to Secretary, Securities
and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.
All submissions should refer to File Number SR-ISE-2008-44. 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 ISE. 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-ISE-2008-44 and should be
submitted on or before July 14, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
---------------------------------------------------------------------------
\12\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-14060 Filed 6-20-08; 8:45 am]
BILLING CODE 8010-01-P
