Federal Register / Vol. 71, No. 190 / Monday, October 2, 2006 / Notices 58019 

4 In approving this proposed Joint-SRO Plan 

amendment, the Commission has considered the 

proposal’s impact on efficiency, competition, and 

capital formation. 15 U.S.C. 78c(f). 

5See Securities Exchange Act Release No. 54399 

(September 1, 2006), 71 FR 53728 (September 12, 

2006). The ISE Stock Exchange consists of a new 

electronic trading system developed to trade 

equities and will provide for the electronic 

execution and display of orders as well as a 

midpoint matching system. The Commission has 

published for comment a proposed rule change by 

ISE to adopt rules and amend existing ISE rules to 

govern the ISE Stock Exchange. See Securities 

Exchange Act Release No. 54287 (August 8, 2006), 

71 FR 46947 (August 15, 1006). 

6 15 U.S.C. 78k–1. 

7 15 U.S.C. 78k–1. 

8 17 CFR 242.608. 

9 17 CFR 200.30–3(a)(29). 

party to the Plan by: (i) Executing a copy 

of the Plan, as then in effect (with the 

only changes being the addition of the 

new participant’s name in Section 11(a) 

of the Plan and the new participant’s 

single-digit code in Section VI(a)(1) of 

the Plan) and (ii) submitting such 

executed plan to the Commission for 

approval. 

II. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed JointSRO Plan amendment 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/nms.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number 4–518 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 4–518. 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/ 

nms.shtml). Copies of the submission, 

all subsequent amendments, all written 

statements with respect to the proposed 

Joint-SRO Plan amendment that are 

filed with the Commission, and all 

written communications relating to the 

proposed Joint-SRO Plan amendment 

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 the filing also will be 

available for inspection and copying at 

the principal office of 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 4–518 and should be submitted 

on or before November 1, 2006. 

III. Commission’s Findings and Order 

Granting Accelerated Approval of 

Proposed Plan Amendment 

The Commission finds that the 

proposed Joint-SRO Plan amendment is 

consistent with the requirements of the 

Act and the rules and regulations 

thereunder.4 Specifically, the 

Commission believes that the proposed 

amendment, which permits ISE to 

become a participant to the Joint-SRO 

Plan, is consistent with the 

requirements of Section 11A of the Act, 

and Rule 608 of Regulation NMS. The 

Plan establishes appropriate procedures 

for market centers to follow in making 

their monthly reports required pursuant 

to Rule 605 of Regulation NMS, 

available to the public in a uniform, 

readily accessible, and usable electronic 

format. The proposed amendment to 

include ISE as a participant in the JointSRO Plan will contribute to the 

maintenance of fair and orderly markets 

and remove impediments to and perfect 

the mechanisms of a national market 

system by facilitating the uniform 

public disclosure of order execution 

information by all market centers. 

The Commission finds good cause to 

grant temporary effectiveness to the 

proposed Joint-SRO Plan amendment, 

for 120 days, until January 30, 2007. The 

Commission believes that it is necessary 

and appropriate in the public interest, 

for the maintenance of fair and orderly 

markets, to remove impediments to, and 

perfect mechanisms of, a national 

market system to allow ISE to become 

a participant in the Joint-SRO Plan. On 

September 1, 2006, the Commission 

approved a proposed rule change by the 

ISE to establish ISE Stock Exchange, 

LLC (‘‘ISE Stock Exchange’’) as an 

equities trading facility of ISE.5 As a 

Plan participant, ISE would have timely 

information on the Plan procedures as 

they are formulated and modified by the 

participants. The Commission finds, 

therefore, that granting temporary 

effectiveness of the proposed Joint-SRO 

Plan amendment is appropriate and 

consistent with Section 11A of the Act.6

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 11A of the Act 7 and Rule 608 

of Regulation NMS,8 that the proposed 

Joint-SRO Plan amendment is approved 

for 120 days, through January 30, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.9

Nancy M. Morris, 

Secretary. 

[FR Doc. E6–16170 Filed 9–29–06; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of China Energy Savings 

Technology, Inc.; Corrected Order of 

Suspension of Trading 

September 26, 2006. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of China 

Energy Savings Technology, Inc. 

(‘‘China Energy’’), a Nevada corporation 

headquartered in Hong Kong, which 

trades in the over-the-counter market 

under the symbol ‘‘CESV.’’

Questions have arisen regarding the 

accuracy and completeness of 

information contained in China Energy’s 

press releases and public filings with 

the Commission concerning, among 

other things: (i) The company’s 

purported ownership and control of its 

sole asset, Shenzhen Dicken Industrial 

Development, a manufacturer of energy 

saving devices located and doing 

business in the People’s Republic of 

China; and (ii) the existence and/or 

identity of the company’s purported 

former Chairman and Chief Executive 

Officer, Mr. Sun Li. 

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, September 

26, 2006, through 11:59 p.m. EDT, on 

October 9, 2006. 


rmajette on PROD1PC67 with NOTICES1
58020 Federal Register / Vol. 71, No. 190 / Monday, October 2, 2006 / Notices 

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

2 17 CFR 240.19b–4. 

3Amendment No. 1 replaced the original filing in 

its entirety. 

4The BSE filed another proposed rule, SR–BSE–

2006–37, in order to extend the market opening 

procedures pilot program from September 1, 2006 

to August 6, 2007. See Securities Exchange Act 

Release No. 54467 (September 20, 2006). 

5The Commission has previously approved 

proposals to extend pilot programs on a retroactive 

basis when an extension was not filed prior to the 

expiration date. See Securities Exchange Act 

Release No. 50097 (July 27, 2004), 69 FR 46609 

(August 3, 2004) (File No. SR–NASD–2004–112). 

6 15 U.S.C. 78f(b). 

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

By the Commission. 

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. 06–8414 Filed 9–27–06; 4:39 pm] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–54507; File No. SR–BSE–

2006–36] 

Self-Regulatory Organizations; Boston 

Stock Exchange, Inc.; Notice of Filing 

of Proposed Rule Change and 

Amendment No. 1 Thereto Relating to 

the Market Opening Pilot Program for 

the Boston Options Exchange Facility 

September 26, 2006. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on 

September 1, 2006, the Boston Stock 

Exchange, Inc. (‘‘BSE’’ or ‘‘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 BSE. On 

September 18, 2006, the BSE filed 

Amendment No. 1 to the proposed rule 

change.3 The Commission is publishing 

this notice to solicit comments on the 

proposed rule change, as amended, from 

interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The BSE is proposing to retroactively 

reinstate the pilot program related to 

market opening procedures on the 

Boston Options Exchange facility.4 The 

pilot program expired on August 6, 

2006. The BSE is proposing to 

retroactively reinstate the pilot program 

for the time period August 6, 2006 

through September 1, 2006. The BSE 

does not propose to make any 

substantive changes to the pilot program 

rules. The only change to be achieved 

by this rule filing is to retroactively 

reinstate the pilot program for the time 

period August 6, 2006 through 

September 1, 2006.5

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 

BSE included statements concerning the 

purpose of, and basis for, the proposed 

rule change, as amended, and discussed 

any comments it received on the 

proposed rule change, as amended. The 

text of these statements may be 

examined at the places specified in Item 

IV below. The BSE 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 

On August 6, 2006 the market 

opening procedures pilot program 

expired. The purpose of this proposed 

rule change is to retroactively reinstate 

the market opening procedures pilot 

program for the time period August 6, 

2006 through September 1, 2006 so as 

to avoid an interruption in that pilot 

program. The BSE is not proposing any 

other changes to the market opening 

procedures pilot with this filing. 

2. Statutory Basis 

The basis under the Act for this 

proposed rule change is the requirement 

under Section 6(b) of the Act 6 in 

general, and Section 6(b)(5) of the Act7

in particular, that an exchange have 

rules that are designed to prevent 

fraudulent and manipulative practices, 

to promote just and equitable principles 

of trade, to foster cooperation and 

coordination with persons engaged in 

regulating, clearing, settling, processing 

information with respect to, and 

facilitating transactions in securities, to 

remove impediments to and perfect the 

mechanism for a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest. In particular, the 

proposed rule change will avoid an 

interruption of the pilot program which 

provides a quicker, more efficient, fair 

and orderly market opening process. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The BSE does not believe that the 

proposed rule change, as amended, 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 BSE did not receive any written 

comments on the proposed rule change, 

as amended. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

As the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the self-regulatory 

organization consents, the Commission 

will: 

A. By order approve such proposed 

rule change, as amended; or 

B. Institute proceedings to determine 

whether the proposed rule change, as 

amended, should be disapproved. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change, as amended, 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–BSE–2006–36 on the 

subject line. 

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–BSE–2006–36. 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 


rmajette on PROD1PC67 with NOTICES1