Federal Register / Vol. 71, No. 179 / Friday, September 15, 2006 / Notices 54537 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

3Amendment No. 1 replaced the original filing in 

its entirety. 

4See Securities Exchange Act Release No. 53112 

(January 12, 2006), 71 FR 3579. 

5 In Amendment No. 2, a partial amendment, the 

Exchange, among other things, revised proposed 

CBOE Rule 52.1 to require that the public customer 

priority overlay be activated whenever pro rata 

priority is in use; removed provisions relating to 

complex orders; revised the requirements for 

executing a facilitation or crossing transaction with 

priority over existing interest on the book; and 

made additional non-substantive changes to the 

proposed rule text. 

6As of August 3, 2006, CBOE traded two such 

products. See Amendment No. 2. 

7See Securities Exchange Act Release No. 47628 

(April 3, 2003), 68 FR 17697 (April 10, 2003) 

(approving SR–CBOE–00–55) (‘‘CBOEdirect 

Approval Order’’). However, at this time, CBOE 

does not trade options pursuant to Chapters 40–46. 

Thygesen from associating with or 

acting as an affiliated person of an 

investment company; 

2. Whether civil money penalties 

should be imposed against Calandrella, 

Powell or Thygesen, and if so, in what 

amount; and 

3. Whether cease-and-desist orders 

against Calandrella, Powell, or Thygesen 

are in the public interest. 

The subject matter of the Closed 

Meeting scheduled for Wednesday, 

September 20, 2006 will be: Post 

argument discussion. 

The subject matters of the Closed 

Meeting scheduled for Thursday, 

September 21, 2006 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 

Regulatory matters regarding financial 

institutions. 

The subject matters of the Closed 

Meeting for Friday, September 22, 2006 

will be: 

Institution and settlement of 

injunctive actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; and a 

Matter relating to an enforcement 

proceeding. 

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: September 12, 2006. 

Nancy M. Morris, 

Secretary. 

[FR Doc. 06–7728 Filed 9–13–06; 11:02 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of Indigenous Global 

Development Corporation; Order of 

Suspension of Trading 

September 13, 2006. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Indigenous 

Global Development Corporation 

(‘‘IGDC’’) because it has not filed a 

periodic report since the quarter ending 

March 31, 2005. 

The Commission is of the opinion that 

the public interest and the protection of 

investors require a suspension of trading 

in the securities of the above-listed 

company. 

Therefore, it is ordered, pursuant to 

Section 12(k) of the Securities Exchange 

Act of 1934, that trading in the abovelisted company is suspended for the 

period from 9:30 a.m. EDT on 

September 13, 2006, through 11:59 p.m. 

EDT, on September 26, 2006. 

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 06–7725 Filed 9–13–06; 11:18 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–54422; File No. SR–CBOE–

2004–21] 

Self-Regulatory Organizations; 

Chicago Board Options Exchange, 

Incorporated; Order Approving a 

Proposed Rule Change and Notice of 

Filing and Order Granting Accelerated 

Approval to Amendment No. 2 Thereto 

To Establish Rules for a Screen-Based 

Trading System for Non-Option 

Securities 

September 11, 2006. 

I. Introduction 

On April 14, 2004, the Chicago Board 

Options Exchange, Incorporated 

(‘‘CBOE’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’)1 and Rule 19b–4 

thereunder,2 a proposal to adopt on a 

pilot basis rules governing the trading of 

non-option securities on an electronic 

platform known as ‘‘STOC.’’ The 

Exchange filed Amendment No. 1 with 

the Commission on January 11, 2006.3

The amended proposal was published 

for comment in the Federal Register on 

January 23, 2006.4 The Commission 

received no comments on the proposal. 

The Exchange filed Amendment No. 2 

with the Commission on August 3, 

2006.5 This notice and order requests 

comment on Amendment No. 2 and 

approves the proposal, as amended, on 

an accelerated basis. 

II. Description of the Proposal 

A. Overview of the STOC System 

CBOE currently trades a small number 

of non-option securities.6 These 

products are not traded on CBOE’s 

options trading platform, but rather on 

a stand-alone platform in an openoutcry environment pursuant to Chapter 

XXX (30) of CBOE’s rules. In 2003, the 

Commission approved Chapters XL (40) 

through XLVI (46) of CBOE’s rules, 

which established a purely screen-based 

trading platform for trading options on 

the Exchange called ‘‘CBOEdirect.’’ 7

Components of that system have been 

adapted to create CBOE’s Hybrid 

Trading System (currently in use for 

options trading), to facilitate the trading 

of single-stock futures by OneChicago, 

and to trade security futures products 

on the CBOE Futures Exchange. CBOE 

now proposes to use the CBOEdirect 

platform to trade non-option securities 

in a purely electronic environment that 

would replace its existing system. All 

products currently traded under Chapter 

30 would migrate to the new platform 

and trade pursuant to new Chapters 50–

55. The new platform is called ‘‘Stock 

Trading on CBOEdirect’’ (‘‘STOC’’ or 

‘‘STOC System’’). Like CBOEdirect, 

STOC would: (1) Be entirely screenbased; (2) utilize a DPM/LMM-driven 

model with optional supplemental 

liquidity provided by market makers; (3) 

utilize a configurable matching 

algorithm based on either price-time or 

pro rata priority, with optional priority 

overlays; and (4) integrate all quotes and 

orders entered into the system into the 

STOC book. 

B. Market Participants 

1. STOC Market Makers 

A STOC market maker is a member 

registered with the Exchange for the 

purpose of making transactions as a 

dealer in the STOC System. A STOC 

market maker may be either a STOC 

standard market maker, a STOC 

designated primary market maker 

(‘‘STOC DPM’’), or a STOC lead market 


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