Federal Register / Vol. 71, No. 184 / Friday, September 22, 2006 / Notices 55539 

8 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(7). 

2 17 CFR 240.19b–7. 

3 7 U.S.C. 7a–2(c). 

4Securities Exchange Act Release No. 52779 

(November 16, 2005), 70 FR 70902 (November 23, 

2005). 

5Securities Exchange Act Release No. 52911 

(December 7, 2005), 70 FR 74078 (December 14, 

2005). 

6 15 U.S.C. 78f(h)(3)(C). 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–NYSEArca–2006–48. This 

file number should be included on the 

subject line if e-mail is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

Internet Web site (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of such filing also will be 

available for inspection and copying at 

the principal office of the Exchange. 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–NYSEArca–2006–48 and 

should be submitted on or before 

October 13, 2006. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.8

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 06–8036 Filed 9–21–06; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISISON 

[Release No. 34–54454; File No. SR–OC–

2006–02] 

Self-Regulatory Organizations; 

OneChicago, LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Relating to Listing 

Standards of Security Futures 

Products 

September 15, 2006. 

Pursuant to Section 19(b)(7) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–7 thereunder,2

notice is hereby given that on 

September 6, 2006, OneChicago, LLC 

(‘‘OneChicago’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change described in Items 

I, II, and III below, which Items have 

been prepared by the Exchange. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

OneChicago has also filed the 

proposed rule change with the 

Commodity Futures Trading 

Commission (‘‘CFTC’’). OneChicago 

filed a written certification with the 

CFTC under Section 5c(c) of the 

Commodity Exchange Act 3 on 

September 5, 2006. 

I. Self-Regulatory Organization’s 

Description of the Proposed Rule 

Change 

OneChicago proposes to amend its 

listing standards for a security futures 

product. The text of the proposed rule 

change is available 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 

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 aspects of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

Currently, under OneChicago Rule 

906(b)(2), the Exchange will not open a 

new delivery month for trading in a 

security future unless the issuer of the 

underlying security satisfies applicable 

reporting requirements of the Act or 

corrects any failure within 30 days after 

the date the report was due to be filed, 

and the underlying security is listed on 

a national securities exchange or is 

principally traded through the facilities 

of a national securities association and 

is designated as an NMS security. The 

Exchange proposes to delete 

OneChicago Rule 906(b)(2)(A), which 

requires that the issuer of a security 

underlying a single stock futures 

(‘‘SSF’’) satisfy applicable reporting 

requirements of the Act or correct any 

failure within 30 days after the date the 

report was due to be filed. OneChicago 

believes that the proposed rule change 

is consistent with listing standards in 

the options market and in the best 

interest of market participants. 

The Exchange believes that the 

current OneChicago Rule 906(b)(2)(A) 

limits an investor’s ability to hedge her 

underlying stock positions at a time 

when she may be most in need to 

protect her investment. The failure of a 

public company to comply with its 

reporting requirements under the Act 

could cause a significant movement in 

the price of that company’s stock. The 

Exchange believes restricting the 

Exchange from opening new contract 

months may leave investors without the 

means to hedge their positions with 

SSFs. 

The Exchange believes that the 

proposed rule change is consistent with 

options listing standards. In December 

2005, the Commission approved a rule 

change for the Chicago Board Options 

Exchange, Incorporated (‘‘CBOE’’) that 

deleted Interpretation and Policy .01(e) 

to CBOE Rule 5.4, which contained 

language similar to that in OneChicago 

Rule 906(b)(2)(A).4 The Pacific 

Exchange, Inc. (n/k/a NYSE Arca, Inc.) 

(‘‘PCX’’) also filed a similar rule change 

with the Commission, which was 

effective immediately.5 Under Section 

6(h)(3)(C) of the Act, listing standards 

for security futures are to be no less 

restrictive than comparable option 

listing standards.6 Since a similar rule 

change was made to the options listing 

standards of CBOE and PCX, 

OneChicago believes that the proposed 

rule change is comparable to, and no 

less restrictive than, option listing 

standards. 

The Exchange will monitor the listing 

status of the security underlying a SSF 

and, pursuant to OneChicago Rule 

906(b), not open a new delivery month 

for trading in a SSF when the 

underlying security is delisted from 

trading. 


sroberts on PROD1PC70 with NOTICES
55540 Federal Register / Vol. 71, No. 184 / Friday, September 22, 2006 / Notices 

7 15 U.S.C. 78f(b). 

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78s(b)(7). 

10 15 U.S.C. 78s(b)(1). 11 17 CFR 200.30–3(a)(73). 

1 15 U.S.C. 78s(b)(7). 

2 17 CFR 240.19b–7. 

3 7 U.S.C. 7a–2(c). 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,7 in general, and 

Section 6(b)(5) of the Act,8 in particular, 

in that it is designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, and, in general, to 

protect investors and the public interest. 

The Exchange believes that the 

proposed changes is designed to protect 

investors and the public interest by 

permitting investors to use SSFs based 

on NMS securities trading on national 

securities exchanges and a national 

securities association for hedging 

purposes. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

OneChicago 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 

The Exchange has not solicited nor 

received comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing proposed rule change 

has become effective pursuant to 

Section 19(b)(7) of the Act.9 Within 60 

days of the date of effectiveness of the 

proposed rule change, the Commission, 

after consultation with the CFTC, may 

summarily abrogate the proposed rule 

change and require that the proposed 

rule change be refiled in accordance 

with the provisions of Section 19(b)(1) 

of the Act.10

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–OC–2006–02 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

100 F Street NE., Washington, DC 

20549–1090. 

All submissions should refer to File 

Number SR–OC–2006–02. 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 (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for inspection and copying in 

the Commission’s Public Reference 

Room. Copies of such filing also will be 

available for inspection and copying at 

the principal office of OneChicago. 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–OC–2006–02 and should be 

submitted on or before October 13, 

2006. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.11

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 06–8002 Filed 9–21–06; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISISON 

[Release No. 34–54452; File No. SR–OC–

2006–01] 

Self-Regulatory Organization; 

OneChicago, LLC; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Relating to Block Trades 

September 15, 2006. 

Pursuant to Section 19(b)(7) of the 

Securities Exchange Act of 1934 

(‘‘Act’’) 1 and Rule 19b–7 thereunder,2

notice is hereby given that on 

September 6, 2006, OneChicago, LLC 

(‘‘OneChicago’’ or ‘‘Exchange’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change described in Items 

I, II, and III below, which Items have 

been prepared by the Exchange. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested persons. 

OneChicago has also filed the 

proposed rule change with the 

Commodity Futures Trading 

Commission (‘‘CFTC’’). OneChicago 

filed a written certification with the 

CFTC under Section 5c(c) of the 

Commodity Exchange Act 3 on 

September 5, 2006. 

I. Self-Regulatory Organization’s 

Description of the Proposed Rule 

Change 

OneChicago proposes to amend its 

policy regarding block trades. The text 

of the proposed rule change is available 

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 

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 aspects of such 

statements. 


sroberts on PROD1PC70 with NOTICES