Consolidated Tape Association; Notice of Filing of the Twelfth Substantive Amendment to the Second Restatement of the Consolidated Tape Association Plan and Eighth Substantive Amendment to the Consolidated Quotation Plan, 49225-49227 [E8-19229]
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Federal Register / Vol. 73, No. 162 / Wednesday, August 20, 2008 / Notices
dwashington3 on PRODPC61 with NOTICES
received in connection with the
transaction by the broker-dealer or
certain related persons (unless the
person receives certain materials from
the lender or broker-dealer which
contain the required information); and
(2) obtains from the person information
on the person’s financial situation and
needs, reasonably determines that the
transaction is suitable for the person,
and retains on file and makes available
to the person on request a written
statement setting forth the brokerdealer’s basis for determining that the
transaction was suitable. The collection
of information required by the rule is
necessary to execute the Commission’s
mandate under the Securities Exchange
Act of 1934 (15 U.S.C. 78a et seq.)
(‘‘Exchange Act’’) to prevent fraudulent,
manipulative, and deceptive acts and
practices by broker-dealers.
The Commission estimates that there
are approximately 50 respondents that
require an aggregate total of 600 hours
to comply with the Rule. Each of these
approximately 50 registered brokerdealers makes an estimated 6 annual
responses, for an aggregate total of 300
responses per year. Each response takes
approximately 2 hours to complete.
Thus, the total compliance burden per
year is 600 burden hours. The
approximate cost per hour is $40.00 for
clerical labor, resulting in a total
compliance cost of $24,000 (600 hours
@ $40.00 per hour).
Although Rule 15c2–5 does not
specify a retention period or record
keeping requirement under the Rule,
nevertheless broker-dealers are required
to preserve the records for a period no
less than six years pursuant to Rule
17a–4(c). The information required
under Rule 15c2–5 is necessary for
broker-dealers to engage in the lending
activities prescribed in the Rule. Rule
15c2–5 does not assure confidentiality
for the information retained under the
Rule.1 Please note that an agency may
not conduct or sponsor, and a person is
not required to respond to, a collection
of information unless it displays a
currently valid control number.
Written comments regarding the
above information should be directed to
the following persons: (i) Desk Officer
1 The records required by Rule 15c2–5 would be
available only to the examination of the
Commission staff, state securities authorities and
the SROs. Subject to the provisions of the Freedom
of Information Act, 5 U.S.C. 522, and the
Commission’s rules thereunder (17 CFR
200.80(b)(4)(iii)), the Commission does not
generally publish or make available information
contained in any reports, summaries, analyses,
letters, or memoranda arising out of, in anticipation
of, or in connection with an examination or
inspection of the books and records of any person
or any other investigation.
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15:36 Aug 19, 2008
Jkt 214001
for the Securities and Exchange
Commission, Office of Information and
Regulatory Affairs, Office of
Management and Budget, Room 10102,
New Executive Office Building,
Washington, DC 20503 or by sending an
e-mail to Alexander_
T._Hunt@omb.eop.gov; and (ii) Lewis
W. Walker, Acting Director/Chief
Information Officer, Securities and
Exchange Commission, c/o Shirley
Martinson, 6432 General Green Way,
Alexandria, VA 22312 or send an e-mail
to: PRA_Mailbox@sec.gov. Comments
must be submitted to OMB within 30
days of this notice.
Dated: August 13, 2008.
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–19231 Filed 8–19–08; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58358; File No. SR–CTA/
CQ–2008–02]
Consolidated Tape Association; Notice
of Filing of the Twelfth Substantive
Amendment to the Second
Restatement of the Consolidated Tape
Association Plan and Eighth
Substantive Amendment to the
Consolidated Quotation Plan
August 13, 2008.
Pursuant to Section 11A of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 608 thereunder,2
notice is hereby given that on June 19,
2008, the Consolidated Tape
Association (‘‘CTA’’) Plan and
Consolidated Quotation (‘‘CQ’’) Plan
participants (‘‘Participants’’) 3 filed with
the Securities and Exchange
Commission (‘‘Commission’’) a proposal
to amend the CTA and CQ Plans
(collectively, the ‘‘Plans’’).4 The
1 15
U.S.C. 78k–1.
CFR 242.608.
3 Each Participant executed the proposed
amendment. The Participants are the American
Stock Exchange LLC; Boston Stock Exchange, Inc.;
Chicago Board Options Exchange, Incorporated;
Chicago Stock Exchange, Inc.; Financial Industry
Regulatory Authority, Inc., International Securities
Exchange, LLC; The NASDAQ Stock Market LLC
(‘‘NASDAQ’’); National Stock Exchange, Inc.; New
York Stock Exchange LLC; NYSE Arca, Inc.; and
Philadelphia Stock Exchange, Inc.
4 See Securities Exchange Act Release Nos. 10787
(May 10, 1974), 39 FR 17799 (order approving CTA
Plan); 15009 (July 28, 1978), 43 FR 34851 (August
7, 1978) (order temporarily approving CQ Plan); and
16518 (January 22, 1980), 45 FR 6521 (order
permanently approving CQ Plan). The most recent
restatement of both Plans was in 1995. The CTA
Plan, pursuant to which markets collect and
disseminate last sale price information for nonNASDAQ listed securities, is a ‘‘transaction
2 17
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49225
proposals represent the twelfth
substantive amendment made to the
Second Restatement of the CTA Plan
(‘‘Twelfth Amendment to the CTA
Plan’’) and the eighth substantive
amendment to the Restated CQ Plan
(‘‘Eighth Amendment to the CQ Plan’’),
and reflect changes unanimously
adopted by the participants. The
Twelfth Amendment to the CTA Plan
and the Eighth Amendment to the CQ
Plan (‘‘Amendments’’) would amend the
Plans to: (1) Permit ministerial
amendments to the Plans to be
submitted to the Commission under the
signature of the Chairman of CTA and
the CQ Plan Operating Committee,
rather than by means of each
Participant’s execution of a Plan
amendment, as Section IV(b) of the CTA
Plan and IV(c) of the CQ Plan currently
require for most amendments to the
Plans; (2) to accommodate recent
changes to the names and addresses of
certain Participants; and (3) to change
the Plans’ references to Commission
rules to reflect the re-designation of
rules by Regulation NMS.5 The
Commission is publishing this notice to
solicit comments from interested
persons on the proposed Amendments.
I. Rule 608(a)
A. Description and Purpose of the
Amendment
Currently, both Plans require each
Participant to execute most amendments
to the Plans before the amendments can
be filed with the Commission. The
Participants believe that this can result
in delays and unwarranted
administrative functioning in the
context of certain amendments that are
of a purely ministerial nature. For that
reason, the Participants propose to
amend the Plans to permit the
submission of Plan amendments to the
Commission under the signature of the
Chairman of CTA and the CQ Plan
Operating Committee, in lieu of
requiring each Participants’ signature
indicating that it has executed the
Amendment as required by Section
IV(b) of the CTA Plan and Section IV(c)
of CQ Plan.
The categories of ministerial Plan
amendments that the Participants may
submit under the signature of the
Chairman include amendments to the
reporting plan’’ under Rule 601 under the Act, 17
CFR 242.601, and a ‘‘national market system plan’’
under Rule 608 under the Act, 17 CFR 242.608. The
CQ Plan, pursuant to which markets collect and
disseminate bid/ask quotation information for listed
securities, is also a ‘‘national market system plan’’
under Rule 608 under the Act, 17 CFR 242.608.
5 See Securities Exchange Act Release No. 51808
(June 9, 2005), 70 FR 37496 (June 29, 2005).
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dwashington3 on PRODPC61 with NOTICES
49226
Federal Register / Vol. 73, No. 162 / Wednesday, August 20, 2008 / Notices
Plans that pertain solely to any one or
more of the following:
(1) Admitting a new Participant into
these Plans;
(2) Changing the name or address of
a Participant;
(3) Incorporating a change that the
Commission has implemented by rule
and that requires no conforming
language to the text of the Plans (e.g.,
the Commission rule establishing the
Advisory Committee);
(4) Incorporating a change (i) that the
Commission has implemented by rule,
(ii) that requires conforming language to
the text of the Plans (e.g., the
Commission rule amending the revenue
allocation formula), and (iii) that a
majority of all Participants has voted to
approve; 6
(5) Incorporating a purely technical
change, such as correcting an error or an
inaccurate reference to a statutory
provision, or removing language that
has become obsolete (e.g., language
regarding the Intermarket Trading
System Plan).
The Participants believe that
submission of these categories of
ministerial amendments will improve
the efficiency of the administration of
the Plans and that the signature of each
Participant provides no safeguards that
are necessary or appropriate in the
context of these categories of ministerial
amendments.
In addition, the Participants propose
to amend the Plans to reflect changes in
the corporate names of the Chicago
Board Options Exchange, Incorporated
(formerly, Chicago Board Options
Exchange, Inc.; ‘‘CBOE’’), the Financial
Industry Regulatory Authority, Inc.
(formerly, the National Association of
Securities Dealers, Inc.) and National
Securities Exchange, Inc. (formerly,
National Securities Exchange) and
changes in the street address of CBOE.
The Participants propose to change
references in the Plans to rules of the
Commission to reflect the re-designation
of certain Commission rules as a result
of Regulation NMS. The proposed
amendments to the names and
addresses of Participants and to the
references to the Commission rules
serve as examples of ministerial
amendments that the Participants could
submit to the Commission under the
signature of the Chairman if these
Amendments are approved.
The text of the proposed Amendments
is available on the CTA’s Web site
(https://www.nysedata.com/cta), at the
6 The
Commission notes that the vote of the
Participants woudl concern the exact wording of
conforming language, but not the change
implemented by the Commission.
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15:36 Aug 19, 2008
Jkt 214001
principal office of the CTA, and at the
Commission’s Public Reference Room.
B. Additional Information Required by
Rule 608(a)
1. Governing or Constituent Documents
Not applicable.
2. Implementation of the Amendment
The Participants propose to
implement the change upon
Commission approval of the
Amendments.
3. Development and Implementation
Phases
See Item I(B)(2) above.
4. Analysis of Impact on Competition
The Amendments will impose no
burden on competition.
5. Written Understanding or Agreements
Relating to Interpretation of, or
Participation in, Plan
The Participants have no written
understandings or agreements relating
to interpretation of the Plans as a result
of the Amendments.
6. Approval by Sponsors in Accordance
With Plan
Under Section IV(b) of the CTA Plan
and Section IV(c) of the CQ Plan, each
Plan Participant must execute a written
amendment to the CTA Plan before the
amendment can become effective. The
Amendments are so executed.
7. Description of Operation of Facility
Contemplated by the Proposed
Amendment
a. Terms and Conditions of Access
Not applicable.
b. Method of Determination and
Imposition, and Amount of, Fees and
Charges
Not applicable.
c. Method of Frequency of Processor
Evaluation
Not applicable.
d. Dispute Resolution
Not applicable.
II. Rule 601(a)
A. Equity Securities for Which
Transaction Reports Shall be Required
by the Plan.
Not applicable.
B. Reporting Requirements
Not applicable.
PO 00000
Frm 00068
Fmt 4703
Sfmt 4703
C. Manner of Collecting, Processing,
Sequencing, Making Available and
Disseminating Last Sale Information
Not applicable.
D. Manner of Consolidation
Not applicable.
E. Standards and Methods Ensuring
Promptness, Accuracy and
Completeness of Transaction Reports
Not applicable.
F. Rules and Procedures Addressed to
Fraudulent or Manipulative
Dissemination
Not applicable.
G. Terms of Access to Transaction
Reports
Not applicable.
H. Identification of Marketplace
Execution
Not applicable.
III. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed Twelfth
Substantive Amendment to the CTA
Plan and the Eighth Amendment to the
CQ Plan are 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
Number SR–CTA/CQ–2008–02 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–CTA/CQ–2008–02. 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 Plan amendment that
are filed with the Commission, and all
written communications relating to the
Plan amendment change between the
Commission and any person, other than
those that may be withheld from the
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Federal Register / Vol. 73, No. 162 / Wednesday, August 20, 2008 / Notices
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 the Amendments also will be
available for inspection and copying at
the principal office of the CTA. 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–CTA/CQ–2008–02 and
should be submitted on or before
September 10, 2008.
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.7
Florence E. Harmon,
Acting Secretary.
[FR Doc. E8–19229 Filed 8–19–08; 8:45 am]
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–58354; File No. SR–NSX–
2008–15]
Self-Regulatory Organizations;
National Stock Exchange, Inc.; Notice
of Filing and Immediate Effectiveness
of a Proposed Rule Change Relating to
the Operative Date of NSX Rule 2.11
August 13, 2008.
dwashington3 on PRODPC61 with NOTICES
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 August 8,
2008, National Stock Exchange, Inc.
(‘‘NSX’’ or the ‘‘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 Exchange.
The Commission is publishing this
notice to solicit comment 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 National Stock Exchange, Inc.
(‘‘NSX’’ or the ‘‘Exchange’’) is proposing
to accelerate the effectiveness of NSX
Rule 2.11 in order to implement
outbound routing through NSX
Securities, LLC (‘‘NSX Securities’’) and
CFR 200.30–3(a)(27).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
1 15
VerDate Aug<31>2005
15:36 Aug 19, 2008
Jkt 214001
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 parts of such
statements.
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
BILLING CODE 8010–01–P
7 17
to amend NSX Rule 2.12 which relates
to the Exchange’s provision of routing
services procured from a third party.
The text of the proposed rule change
is available on the Exchange’s Web site
at https://www.nsx.com, at the principal
office of the Exchange, and at the
Commission’s Public Reference Room.
1. Purpose
The Exchange is proposing to
accelerate the effectiveness of NSX Rule
2.11 in order to implement outbound
routing with respect to orders entered in
the Exchange’s trading system, NSX
BLADE , through an affiliate of the
Exchange, NSX Securities. In addition,
the Exchange proposes to amend NSX
Rule 2.12 which relates to the
Exchange’s current provision of
outbound routing of orders from the
Exchange to other trading centers
(‘‘Routing Services’’) using a third party.
As background, the Exchange
originally planned to provide Routing
Services for orders entered into NSX
BLADE through NSX Securities. NSX
Rule 2.11 was approved by the
Securities and Exchange Commission
(‘‘Commission’’) in connection with the
approval of the Exchange’s new trading
rules relating to NSX BLADE on August
31, 2006.3 The ability to route orders
entered into NSX BLADE to away
markets for execution at the best
available prices is a key feature of NSX’s
new system. NSX Rule 2.11 specifically
provides for certain terms and
conditions under which NSX Securities
will provide Routing Services. Among
other things, an ETP Holder’s use of
NSX Securities to route orders to
3 See Securities Exchange Act Release No. 54391
(August 31, 2006), 71 FR 52836 (September 7,
2006), File No. SR–NSX–2006–08. This rule change
filing was filed under Section 19(b)(2) of the
Securities Exchange Act of 1934 (the ‘‘Act’’).
PO 00000
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Fmt 4703
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49227
another Trading Center is optional. ETP
Holders that do not want to route orders
through NSX Securities may submit
order instructions to NSX under NSX
Rule 11.11 such as Immediate-orCancel, Post Only or NSX Only.
However, as NSX Securities had not
completed its registration process as a
broker-dealer with the National
Association of Securities Dealers, Inc.
(‘‘NASD’’) (and thus would not be
available to provide Routing Services)
by the launch of NSX BLADE,4 the
Exchange proposed the adoption of NSX
Rule 2.12 so that the Exchange could
route through a third party in the
interim period.5 In the adoption of Rule
2.12, the Exchange requested a finite
period of effectiveness so NSX
Securities could complete its
registration as a broker-dealer and the
Exchange could evaluate its options for
providing Routing Services to ETP
Holders. The Exchange subsequently
filed several rule change proposals to
extend the effective period for NSX Rule
2.12, and to delay the effectiveness of
NSX Rule 2.11 to certain dates, unless
earlier amended, while the Exchange
considered its options and made system
and other changes to implement
outbound routing through NSX
Securities.6 Rule 2.12 currently provides
that it is effective through September 30,
2008, with the ability to route through
NSX Securities under Rule 2.11
becoming effective on October 1, 2008.
In the instant proposed rule change,
the Exchange is requesting that the
operative date of Rule 2.11 be
accelerated to August 8, 2008. The
Exchange and NSX Securities have
made all necessary changes to activate
NSX Securities, including NSX
Securities being approved as a brokerdealer, entering into a clearing and
routing agreement, and making the
required systems and regulatory
changes. Further, because the current
Rule 2.12 is effective until September
30, 2008, the Exchange proposes to
amend NSX Rule 2.12 to provide that
during that period it be operative only
in the event that the Exchange is not
4 In January 2007, NSX Securities’ application for
registration as a broker-dealer was approved by the
NASD. To date, the Exchange has not used NSX
Securities for routing services.
5 See Securities Exchange Act Release No. 54808
(November 21, 2006), 71 FR 69163 (November 29,
2006), File No. SR–NSX–2006–15.
6 See Securities Exchange Act Release No. 55624
(April 12, 2007), 72 FR 19732 (April 19, 2007), File
No. SR–NSX–2007–04; Securities Exchange Act
Release No. 56067 (July 13, 2007), 72 FR 39650
(July 19, 2007), File No. SR–NSX–2007–08;
Securities Exchange Act Release No. 56587 (October
1, 2007), 72 FR 57087 (October 5, 2007), File No.
SR–NSX–2007–10; and Securities Exchange Act
Release No. 57574 (March 27, 2008), 73 FR 18026
(April 2, 2008), File No. SR–NSX–2008–08.
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]]>Agencies
[Federal Register Volume 73, Number 162 (Wednesday, August 20, 2008)]
[Notices]
[Pages 49225-49227]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-19229]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-58358; File No. SR-CTA/CQ-2008-02]
Consolidated Tape Association; Notice of Filing of the Twelfth
Substantive Amendment to the Second Restatement of the Consolidated
Tape Association Plan and Eighth Substantive Amendment to the
Consolidated Quotation Plan
August 13, 2008.
Pursuant to Section 11A of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 608 thereunder,\2\ notice is hereby given that
on June 19, 2008, the Consolidated Tape Association (``CTA'') Plan and
Consolidated Quotation (``CQ'') Plan participants (``Participants'')
\3\ filed with the Securities and Exchange Commission (``Commission'')
a proposal to amend the CTA and CQ Plans (collectively, the
``Plans'').\4\ The proposals represent the twelfth substantive
amendment made to the Second Restatement of the CTA Plan (``Twelfth
Amendment to the CTA Plan'') and the eighth substantive amendment to
the Restated CQ Plan (``Eighth Amendment to the CQ Plan''), and reflect
changes unanimously adopted by the participants. The Twelfth Amendment
to the CTA Plan and the Eighth Amendment to the CQ Plan
(``Amendments'') would amend the Plans to: (1) Permit ministerial
amendments to the Plans to be submitted to the Commission under the
signature of the Chairman of CTA and the CQ Plan Operating Committee,
rather than by means of each Participant's execution of a Plan
amendment, as Section IV(b) of the CTA Plan and IV(c) of the CQ Plan
currently require for most amendments to the Plans; (2) to accommodate
recent changes to the names and addresses of certain Participants; and
(3) to change the Plans' references to Commission rules to reflect the
re-designation of rules by Regulation NMS.\5\ The Commission is
publishing this notice to solicit comments from interested persons on
the proposed Amendments.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78k-1.
\2\ 17 CFR 242.608.
\3\ Each Participant executed the proposed amendment. The
Participants are the American Stock Exchange LLC; Boston Stock
Exchange, Inc.; Chicago Board Options Exchange, Incorporated;
Chicago Stock Exchange, Inc.; Financial Industry Regulatory
Authority, Inc., International Securities Exchange, LLC; The NASDAQ
Stock Market LLC (``NASDAQ''); National Stock Exchange, Inc.; New
York Stock Exchange LLC; NYSE Arca, Inc.; and Philadelphia Stock
Exchange, Inc.
\4\ See Securities Exchange Act Release Nos. 10787 (May 10,
1974), 39 FR 17799 (order approving CTA Plan); 15009 (July 28,
1978), 43 FR 34851 (August 7, 1978) (order temporarily approving CQ
Plan); and 16518 (January 22, 1980), 45 FR 6521 (order permanently
approving CQ Plan). The most recent restatement of both Plans was in
1995. The CTA Plan, pursuant to which markets collect and
disseminate last sale price information for non-NASDAQ listed
securities, is a ``transaction reporting plan'' under Rule 601 under
the Act, 17 CFR 242.601, and a ``national market system plan'' under
Rule 608 under the Act, 17 CFR 242.608. The CQ Plan, pursuant to
which markets collect and disseminate bid/ask quotation information
for listed securities, is also a ``national market system plan''
under Rule 608 under the Act, 17 CFR 242.608.
\5\ See Securities Exchange Act Release No. 51808 (June 9,
2005), 70 FR 37496 (June 29, 2005).
---------------------------------------------------------------------------
I. Rule 608(a)
A. Description and Purpose of the Amendment
Currently, both Plans require each Participant to execute most
amendments to the Plans before the amendments can be filed with the
Commission. The Participants believe that this can result in delays and
unwarranted administrative functioning in the context of certain
amendments that are of a purely ministerial nature. For that reason,
the Participants propose to amend the Plans to permit the submission of
Plan amendments to the Commission under the signature of the Chairman
of CTA and the CQ Plan Operating Committee, in lieu of requiring each
Participants' signature indicating that it has executed the Amendment
as required by Section IV(b) of the CTA Plan and Section IV(c) of CQ
Plan.
The categories of ministerial Plan amendments that the Participants
may submit under the signature of the Chairman include amendments to
the
[[Page 49226]]
Plans that pertain solely to any one or more of the following:
(1) Admitting a new Participant into these Plans;
(2) Changing the name or address of a Participant;
(3) Incorporating a change that the Commission has implemented by
rule and that requires no conforming language to the text of the Plans
(e.g., the Commission rule establishing the Advisory Committee);
(4) Incorporating a change (i) that the Commission has implemented
by rule, (ii) that requires conforming language to the text of the
Plans (e.g., the Commission rule amending the revenue allocation
formula), and (iii) that a majority of all Participants has voted to
approve; \6\
---------------------------------------------------------------------------
\6\ The Commission notes that the vote of the Participants woudl
concern the exact wording of conforming language, but not the change
implemented by the Commission.
---------------------------------------------------------------------------
(5) Incorporating a purely technical change, such as correcting an
error or an inaccurate reference to a statutory provision, or removing
language that has become obsolete (e.g., language regarding the
Intermarket Trading System Plan).
The Participants believe that submission of these categories of
ministerial amendments will improve the efficiency of the
administration of the Plans and that the signature of each Participant
provides no safeguards that are necessary or appropriate in the context
of these categories of ministerial amendments.
In addition, the Participants propose to amend the Plans to reflect
changes in the corporate names of the Chicago Board Options Exchange,
Incorporated (formerly, Chicago Board Options Exchange, Inc.;
``CBOE''), the Financial Industry Regulatory Authority, Inc. (formerly,
the National Association of Securities Dealers, Inc.) and National
Securities Exchange, Inc. (formerly, National Securities Exchange) and
changes in the street address of CBOE.
The Participants propose to change references in the Plans to rules
of the Commission to reflect the re-designation of certain Commission
rules as a result of Regulation NMS. The proposed amendments to the
names and addresses of Participants and to the references to the
Commission rules serve as examples of ministerial amendments that the
Participants could submit to the Commission under the signature of the
Chairman if these Amendments are approved.
The text of the proposed Amendments is available on the CTA's Web
site (https://www.nysedata.com/cta), at the principal office of the CTA,
and at the Commission's Public Reference Room.
B. Additional Information Required by Rule 608(a)
1. Governing or Constituent Documents
Not applicable.
2. Implementation of the Amendment
The Participants propose to implement the change upon Commission
approval of the Amendments.
3. Development and Implementation Phases
See Item I(B)(2) above.
4. Analysis of Impact on Competition
The Amendments will impose no burden on competition.
5. Written Understanding or Agreements Relating to Interpretation of,
or Participation in, Plan
The Participants have no written understandings or agreements
relating to interpretation of the Plans as a result of the Amendments.
6. Approval by Sponsors in Accordance With Plan
Under Section IV(b) of the CTA Plan and Section IV(c) of the CQ
Plan, each Plan Participant must execute a written amendment to the CTA
Plan before the amendment can become effective. The Amendments are so
executed.
7. Description of Operation of Facility Contemplated by the Proposed
Amendment
a. Terms and Conditions of Access
Not applicable.
b. Method of Determination and Imposition, and Amount of, Fees and
Charges
Not applicable.
c. Method of Frequency of Processor Evaluation
Not applicable.
d. Dispute Resolution
Not applicable.
II. Rule 601(a)
A. Equity Securities for Which Transaction Reports Shall be Required by
the Plan.
Not applicable.
B. Reporting Requirements
Not applicable.
C. Manner of Collecting, Processing, Sequencing, Making Available and
Disseminating Last Sale Information
Not applicable.
D. Manner of Consolidation
Not applicable.
E. Standards and Methods Ensuring Promptness, Accuracy and Completeness
of Transaction Reports
Not applicable.
F. Rules and Procedures Addressed to Fraudulent or Manipulative
Dissemination
Not applicable.
G. Terms of Access to Transaction Reports
Not applicable.
H. Identification of Marketplace Execution
Not applicable.
III. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed
Twelfth Substantive Amendment to the CTA Plan and the Eighth Amendment
to the CQ Plan are 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-CTA/CQ-2008-02 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-CTA/CQ-2008-02. 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 Plan amendment that are
filed with the Commission, and all written communications relating to
the Plan amendment change between the Commission and any person, other
than those that may be withheld from the
[[Page 49227]]
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 the Amendments also will be available for
inspection and copying at the principal office of the CTA. 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-CTA/CQ-2008-02 and should be
submitted on or before September 10, 2008.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\7\
Florence E. Harmon,
Acting Secretary.
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\7\ 17 CFR 200.30-3(a)(27).
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[FR Doc. E8-19229 Filed 8-19-08; 8:45 am]
BILLING CODE 8010-01-P
