Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend Until October 1, 2008 the Adoption of Interim NYSE Rule 128 (Clearly Erroneous Executions), 47247-47249 [E8-18700]

Download as PDF Federal Register / Vol. 73, No. 157 / Wednesday, August 13, 2008 / Notices BILLING CODE 3110–01–P OFFICE OF THE UNITED STATES TRADE REPRESENTATIVE Revised Fiscal Year 2008 Tariff-Rate Quota Allocations for Refined Sugar Office of the United States Trade Representative. ACTION: Notice. SECURITIES AND EXCHANGE COMMISSION Susan C. Schwab, United States Trade Representative. [FR Doc. E8–18769 Filed 8–12–08; 8:45 am] Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend Until October 1, 2008 the Adoption of Interim NYSE Rule 128 (Clearly Erroneous Executions) SECURITIES AND EXCHANGE COMMISSION Danny Werfel, Deputy Controller. [FR Doc. E8–18783 Filed 8–12–08; 8:45 am] under the tariff-rate quota for refined sugar that is the product of a country that has been allocated a share of the tariff-rate quota for refined sugar. BILLING CODE 3190–W8–P regulations that specify financial reporting requirements. August 6, 2008. AGENCY: ebenthall on PRODPC60 with NOTICES Sunshine Act Meeting The Office of the United States Trade Representative (USTR) is providing notice of additional countryby-country allocations of the in-quota quantity of the tariff-rate quotas for imported refined sugar for the period August 14, 2008 through December 31, 2008 (FY 2008). DATES: Effective Date: August 13, 2008. ADDRESSES: Inquiries may be mailed or delivered to Leslie O’Connor, Director of Agricultural Affairs, Office of Agricultural Affairs, Office of the United States Trade Representative, 600 17th Street, NW., Washington, DC 20508. FOR FURTHER INFORMATION CONTACT: Leslie O’Connor, Office of Agricultural Affairs, telephone: 202–395–6127 or facsimile: 202–395–4579. SUPPLEMENTARY INFORMATION: Pursuant to Additional U.S. Note 5 to chapter 17 of the Harmonized Tariff Schedule of the United States (HTS), the United States maintains a tariff-rate quota for imports of refined sugar. Section 404(d)(3) of the Uruguay Round Agreements Act (19 U.S.C. 3601(d)(3)) authorizes the President to allocate the in-quota quantity of a tariffrate quota for any agricultural product among supplying countries or customs areas. The President delegated this authority to the United States Trade Representative under Presidential Proclamation 6763 (60 FR 1007). On August 6, 2008, the Secretary of Agriculture increased the in-quota quantity of the tariff-rate quota for refined sugar for FY 2008 by 272,155 metric tons raw value, none of which is for specialty sugars. A total of 40,000 metric tons raw value is being allocated to Canada. A total of 68,278 metric tons raw value is being allocated to Mexico. The remaining 163,877 metric tons raw value of the in-quota quantity may be supplied by any country on a first-come, first-served basis, subject to any other provision of law. The certificate of quota eligibility is required for sugar entering SUMMARY: VerDate Aug<31>2005 15:38 Aug 12, 2008 Jkt 214001 47247 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 August 8, 2008 at 11:30 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)(10) and 17 CFR 200.402(a)(10), permit consideration of the scheduled matters at the Closed Meeting. Commissioner Casey, as duty officer, voted to consider the items listed for the Closed Meeting in closed session, and determined that no earlier notice thereof was possible. The subject matter of the Closed Meeting scheduled for August 8, 2008 will be: Institution and settlement of injunctive actions; 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: August 8, 2008. Florence E. Harmon, Acting Secretary. [FR Doc. E8–18796 Filed 8–12–08; 8:45 am] 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 July 28, 2008, New York Stock Exchange LLC (‘‘NYSE’’ or the ‘‘Exchange’’) filed with the Securities and Exchange Commission (the ‘‘Commission’’) the proposed rule change as described in Items I and II below, which Items have been substantially prepared by the selfregulatory organization. NYSE designated the proposed rule change as ‘‘non-controversial’’ under Section 19(b)(3)(A)(iii) of the Act 3 and Rule 19b–4(f)(6) thereunder,4 which renders the proposal effective upon filing with the Commission. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to extend until October 1, 2008, the adoption of interim NYSE Rule 128 (‘‘Clearly Erroneous Executions for NYSE Equities’’). The text of the proposed rule change is available at the Exchange, the Commission’s Public Reference Room, and http://www.nyse.com. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the self-regulatory organization 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 those 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 parts of such statements. 1 15 U.S.C. 78s(b)(1). CFR 240.19b–4. 3 15 U.S.C. 78s(b)(3)(A)(iii). 4 17 CFR 240.19b–4(f)(6). BILLING CODE 8010–01–P PO 00000 [Release No. 34–58323; File No. SR–YSE– 2008–63] 2 17 Frm 00122 Fmt 4703 Sfmt 4703 E:\FR\FM\13AUN1.SGM 13AUN1 47248 Federal Register / Vol. 73, No. 157 / Wednesday, August 13, 2008 / Notices B. Self-Regulatory Organization’s Statement on Burden on Competition A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to extend until October 1, 2008, the adoption of interim NYSE Rule 128 (‘‘Clearly Erroneous Executions for NYSE Equities’’), which permits the Exchange to cancel or adjust clearly erroneous executions if they arise out of the use or operation of any quotation, execution or communication system owned or operated by the Exchange, including those executions that occur in the event of a system disruption or system malfunction. Prior to the implementation of NYSE Rule 128 on January 28, 2008,5 the NYSE did not have a rule providing the Exchange with the authority to cancel or adjust clearly erroneous trades of securities executed on or through the systems and facilities of the NYSE. In order for the NYSE to be consistent with other national securities exchanges which have some version of a clearly erroneous execution rule, the Exchange is drafting an amended clearly erroneous rule which will accommodate such other exchanges, but will be appropriate for the NYSE market model. Accordingly, the Exchange requests an extension until October 1, 2008 of the adoption of NYSE Rule 128 in order to finalize its clearly erroneous rule. The NYSE is mindful that the Commission approved an amended clearly erroneous execution rule for Nasdaq in May 2008.6 The Exchange is currently reviewing the provisions in the Nasdaq’s clearly erroneous execution rule and is considering the adoption of such provisions for an Exchange rule amendment. 2. Statutory Basis ebenthall on PRODPC60 with NOTICES The Exchange believes the proposed rule change is consistent with and furthers the objectives of Section 6(b)(5) of the Act,7 in that it is designed to prevent fraudulent and manipulative practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanisms of a free and open market and a national market system, and, in general, to protect investors and the public interest. 5 See Securities Exchange Act Release No. 57323 (February 13, 2008), 73 FR 9371 (February 20, 2008) (SR–NYSE–2008–09). 6 See Securities Exchange Act Release No. 57826 (May 15, 2008), 73 FR 29802 (May 22, 2008) (SR– NASDAQ–2007–001). 7 15 U.S.C. 78f(b)(5). VerDate Aug<31>2005 15:38 Aug 12, 2008 Jkt 214001 The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others No written comments were solicited or received with respect to the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the proposed rule change does not: (i) Significantly affect the protection of investors or the public interest; (ii) impose any significant burden on competition; and (iii) become operative for 30 days after the date of 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 8 and subparagraph (f)(6) of Rule 19b–4 thereunder.9 A proposed rule change filed under Rule 19b–4(f)(6) normally may not become operative prior to the 30th day after the date of filing.10 However, Rule 19b–4(f)(6)(iii) 11 permits the Commission to designate a shorter time if such action is consistent with the protection of investors and the public interest.12 The Exchange has requested that the Commission waive the 30-day operative delay. The Exchange believes that the waiver of this period will allow it to immediately and timely enable the NYSE to cancel or adjust clearly erroneous trades that may present a risk to the integrity of the equities markets and all related markets. According to the Exchange, the proposed rule change also will allow the Exchange to protect customers and the public interest and to continue to provide economically efficient execution of securities transactions. 8 15 U.S.C. 78s(b)(3)(A). CFR 240.19b–4(f)(6). 10 See 17 CFR 240.19b–4(f)(6)(iii). 11 Id. 12 In addition, Rule 19b–4(f)(6)(iii) requires a selfregulatory organization to give the Commission written notice of its intent to file the proposed rule change at least five business days prior to the date of filing of the proposed rule change, or such shorter time as designated by the Commission. The Commission has determined to waive the five-day prefiling period in this case. 9 17 PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 The Commission believes that waiving the 30-day operative delay will allow the Exchange to continue to immediately and timely cancel or adjust trades that it determines to be clearly erroneous under Rule 128. The Commission believes that the extension of NYSE Rule 128 until October 1, 2008 will allow the Exchange to continue to apply the rule without interruption and is consistent with the protection of investors and the public interest. The Commission hereby designates the proposal as operative upon filing.13 At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate the rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–NYSE–2008–63 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–NYSE–2008–63. 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 13 For purposes only of waiving the 30-day operative delay, the Commission has considered the proposed rule’s impact on efficiency, competition, and capital formation. See 15 U.S.C. 78c(f). E:\FR\FM\13AUN1.SGM 13AUN1 Federal Register / Vol. 73, No. 157 / Wednesday, August 13, 2008 / Notices 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 NYSE. 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–NYSE–2008–63 and should be submitted on or before September 3, 2008. Rich, Management Analyst, 202–205– 7030, curtis.rich@sba.gov. SUPPLEMENTARY INFORMATION: The U.S. Small Business Administration, Office of Native American Affairs (ONAA), is continuing a Native American initiative that will provide Native American Tribes economic development through the use of the Tribal Self Assessment Tool. Title: ‘‘Tribal Self Assessment Tool.’’ Description of Respondents: Native Americans. Form Number: N/A. Annual Responses: 1,000. Annual Burden: 2,000. For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.14 Florence E. Harmon, Acting Secretary. [FR Doc. E8–18700 Filed 8–12–08; 8:45 am] SMALL BUSINESS ADMINISTRATION BILLING CODE 8010–01–P SMALL BUSINESS ADMINISTRATION Data Collection Available for Public Comments and Recommendations Notice and request for comments. ebenthall on PRODPC60 with NOTICES ACTION: SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this notice announces the Small Business Administration’s intentions to request approval on a new and/or currently approved information collection. DATES: Submit comments on or before October 14, 2008. ADDRESSES: Send all comments regarding whether this information collection is necessary for the proper performance of the function of the agency, whether the burden estimates are accurate, and if there are ways to minimize the estimated burden and enhance the quality of the collection, to Delcine Montgomery, Business Development Specialist, Office of Native American Affairs, Small Business Administration, 409 3rd Street, SW., 6th Floor, Washington, DC 20416. FOR FURTHER INFORMATION CONTACT: Delcine Montgomery, Business Development Specialist, Office of Native American Affairs, 202–205–6195, delcine.montgomery@sba.gov, Curtis B. 14 17 CFR 200.30–3(a)(12). VerDate Aug<31>2005 15:38 Aug 12, 2008 Jkt 214001 Jacqueline White, Chief, Administrative Information Branch. [FR Doc. E8–18704 Filed 8–12–08; 8:45 am] BILLING CODE 8025–01–P [License No. 06/76–0330] SunTx Fulcrum Fund II—SBIC, L.P.; Notice Seeking Exemption Under Section 312 of the Small Business Investment Act, Conflicts of Interest Notice is hereby given that SunTx Fulcrum Fund II—SBIC, L.P., Two Lincoln Centre, 5420 LBJ Freeway, Suite 1000, Dallas, Texas 75240, a Federal Licensee under the Small Business Investment Act of 1958, as amended (‘‘the Act’’), in connection with the financing of a small concern, has sought SBA’s prior written approval under section 312 of the Act and section 107.730(d), Financings with Associates, of the Small Business Administration (‘‘SBA’’) rules and regulations (13 CFR 107.730 (2002)). SunTx Fulcrum Fund II—SBIC, L.P. proposes to invest in NationsBuilders Insurance Services, Inc. (‘‘NBIS’’). The financing will provide the funding for the information system improvement and growth of the business. The financing is brought within the purview of Section 107.730(d) of the Regulations because SunTx Fulcrum Fund, L.P. and SunTx Fulcrum Dutch Investors, L.P., Associates of SunTx Fulcrum Fund II—SBIC, L.P., own more than 5% of outstanding ownership of NBIS. Therefore, this transaction is considered as a financing with Associates requiring SBA’s prior approval. Notice is hereby given that any interested person may submit written comments on the transaction, within 15 days of the date of this publication, to the Associate Administrator for Investment, U.S. Small Business PO 00000 Frm 00124 Fmt 4703 Sfmt 4703 47249 Administration, 409 Third Street, SW., Washington, DC 20416. Dated: July 9, 2008. A. Joseph Shepard, Associate Administrator For Investment. [FR Doc. E8–18522 Filed 8–12–08; 8:45 am] BILLING CODE 8025–01–P DEPARTMENT OF STATE [Public Notice 6314] Culturally Significant Objects Imported for Exhibition Determinations: ‘‘Louvre Atlanta: The Louvre and the Masterpiece’’ SUMMARY: Notice is hereby given of the following determinations: Pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, et seq.; 22 U.S.C. 6501 note, et seq.), Delegation of Authority No. 234 of October 1, 1999, Delegation of Authority No. 236 of October 19, 1999, as amended, and Delegation of Authority No. 257 of April 15, 2003 [68 FR 19875], I hereby determine that the objects to be included in the exhibition ‘‘Louvre Atlanta: The Louvre and the Masterpiece,’’ imported from abroad for temporary exhibition within the United States, are of cultural significance. The objects are imported pursuant to loan agreements with the foreign owner or custodian. I also determine that the exhibition or display of the exhibit objects at the High Museum of Art, Atlanta, GA, from on or about October 11, 2008, until on or about September 6, 2009; at the Minneapolis Institute of Arts, Minneapolis, MN, from on or about October 18, 2009, to on or about January 10, 2010; and at possible additional exhibitions or venues yet to be determined, is in the national interest. Public Notice of these Determinations is ordered to be published in the Federal Register. For further information, including a list of the exhibit objects, contact Carol B. Epstein, Attorney-Adviser, Office of the Legal Adviser, U.S. Department of State (telephone: 202/453–8048). The address is U.S. Department of State, SA–44, 301 4th Street, SW., Room 700, Washington, DC 20547–0001. FOR FURTHER INFORMATION CONTACT: E:\FR\FM\13AUN1.SGM 13AUN1

Agencies

[Federal Register Volume 73, Number 157 (Wednesday, August 13, 2008)]
[Notices]
[Pages 47247-47249]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-18700]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-58323; File No. SR-YSE-2008-63]


Self-Regulatory Organizations; New York Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To 
Extend Until October 1, 2008 the Adoption of Interim NYSE Rule 128 
(Clearly Erroneous Executions)

August 6, 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 July 28, 2008, New York Stock Exchange LLC (``NYSE'' or the 
``Exchange'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I and II 
below, which Items have been substantially prepared by the self-
regulatory organization. NYSE designated the proposed rule change as 
``non-controversial'' under Section 19(b)(3)(A)(iii) of the Act \3\ and 
Rule 19b-4(f)(6) thereunder,\4\ which renders the proposal effective 
upon filing with the Commission. The Commission is publishing this 
notice to solicit comments on the proposed rule change from interested 
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to extend until October 1, 2008, the adoption 
of interim NYSE Rule 128 (``Clearly Erroneous Executions for NYSE 
Equities''). The text of the proposed rule change is available at the 
Exchange, the Commission's Public Reference Room, and http://
www.nyse.com.

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

    In its filing with the Commission, the self-regulatory organization 
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 those 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 parts of such statements.

[[Page 47248]]

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

1. Purpose
    The Exchange proposes to extend until October 1, 2008, the adoption 
of interim NYSE Rule 128 (``Clearly Erroneous Executions for NYSE 
Equities''), which permits the Exchange to cancel or adjust clearly 
erroneous executions if they arise out of the use or operation of any 
quotation, execution or communication system owned or operated by the 
Exchange, including those executions that occur in the event of a 
system disruption or system malfunction.
    Prior to the implementation of NYSE Rule 128 on January 28, 
2008,\5\ the NYSE did not have a rule providing the Exchange with the 
authority to cancel or adjust clearly erroneous trades of securities 
executed on or through the systems and facilities of the NYSE.
---------------------------------------------------------------------------

    \5\ See Securities Exchange Act Release No. 57323 (February 13, 
2008), 73 FR 9371 (February 20, 2008) (SR-NYSE-2008-09).
---------------------------------------------------------------------------

    In order for the NYSE to be consistent with other national 
securities exchanges which have some version of a clearly erroneous 
execution rule, the Exchange is drafting an amended clearly erroneous 
rule which will accommodate such other exchanges, but will be 
appropriate for the NYSE market model.
    Accordingly, the Exchange requests an extension until October 1, 
2008 of the adoption of NYSE Rule 128 in order to finalize its clearly 
erroneous rule. The NYSE is mindful that the Commission approved an 
amended clearly erroneous execution rule for Nasdaq in May 2008.\6\ The 
Exchange is currently reviewing the provisions in the Nasdaq's clearly 
erroneous execution rule and is considering the adoption of such 
provisions for an Exchange rule amendment.
---------------------------------------------------------------------------

    \6\ See Securities Exchange Act Release No. 57826 (May 15, 
2008), 73 FR 29802 (May 22, 2008) (SR-NASDAQ-2007-001).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes the proposed rule change is consistent with 
and furthers the objectives of Section 6(b)(5) of the Act,\7\ in that 
it is designed to prevent fraudulent and manipulative practices, to 
promote just and equitable principles of trade, to remove impediments 
to and perfect the mechanisms of a free and open market and a national 
market system, and, in general, to protect investors and the public 
interest.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

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

    Because the proposed rule change does not: (i) Significantly affect 
the protection of investors or the public interest; (ii) impose any 
significant burden on competition; and (iii) become operative for 30 
days after the date of 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 \8\ and subparagraph (f)(6) of Rule 
19b-4 thereunder.\9\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) normally may 
not become operative prior to the 30th day after the date of 
filing.\10\ However, Rule 19b-4(f)(6)(iii) \11\ permits the Commission 
to designate a shorter time if such action is consistent with the 
protection of investors and the public interest.\12\
---------------------------------------------------------------------------

    \10\ See 17 CFR 240.19b-4(f)(6)(iii).
    \11\ Id.
    \12\ In addition, Rule 19b-4(f)(6)(iii) requires a self-
regulatory organization to give the Commission written notice of its 
intent to file the proposed rule change at least five business days 
prior to the date of filing of the proposed rule change, or such 
shorter time as designated by the Commission. The Commission has 
determined to waive the five-day prefiling period in this case.
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day 
operative delay. The Exchange believes that the waiver of this period 
will allow it to immediately and timely enable the NYSE to cancel or 
adjust clearly erroneous trades that may present a risk to the 
integrity of the equities markets and all related markets. According to 
the Exchange, the proposed rule change also will allow the Exchange to 
protect customers and the public interest and to continue to provide 
economically efficient execution of securities transactions.
    The Commission believes that waiving the 30-day operative delay 
will allow the Exchange to continue to immediately and timely cancel or 
adjust trades that it determines to be clearly erroneous under Rule 
128. The Commission believes that the extension of NYSE Rule 128 until 
October 1, 2008 will allow the Exchange to continue to apply the rule 
without interruption and is consistent with the protection of investors 
and the public interest. The Commission hereby designates the proposal 
as operative upon filing.\13\
---------------------------------------------------------------------------

    \13\ For purposes only of waiving the 30-day operative delay, 
the Commission has considered the proposed rule's impact on 
efficiency, competition, and capital formation. See 15 U.S.C. 
78c(f).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule 
change, the Commission may summarily abrogate the rule change if it 
appears to the Commission that such action is necessary or appropriate 
in the public interest, for the protection of investors, or otherwise 
in furtherance of the purposes of the Act.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/sro.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number SR-NYSE-2008-63 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-NYSE-2008-63. 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

[[Page 47249]]

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 NYSE. 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-NYSE-2008-63 and should be submitted on or before 
September 3, 2008.

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\14\
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Acting Secretary.
[FR Doc. E8-18700 Filed 8-12-08; 8:45 am]
BILLING CODE 8010-01-P