68668 Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Notices 

7See Securities Exchange Act Release Nos. 54194 

(July 24, 2006), 71 FR 43258 (July 31, 2006) (SR–

NSX–2006–10), and 53860 (May 24, 2006), 71 FR 

31250 (June 1, 2006) (SR–NSX–2006–07). ‘‘Gross 

revenue’’ is defined under the existing NSX 

program the same way as under the proposed 

program for the NASD/Nasdaq TRF. 

NASD also notes that the proposed transaction 

credit program is substantially equivalent to the 

existing transaction credit program for the NASD/ 

Nasdaq TRF under NASD Rule 7001B. The only 

difference between the two programs is that under 

the NASD/Nasdaq TRF transaction credit program, 

members receive 50% of revenue after deducting 

any amounts that the NASD/Nasdaq TRF will be 

required to pay to the Consolidated Tape 

Association or the Nasdaq Securities Information 

Processor for capacity usage. Under the proposed 

transaction credit program for the NASD/NSX TRF, 

such expenses will not be deducted. 

8 15 U.S.C. 78o–3. 

9 15 U.S.C. 78o–3(b)(5). 

10 15 U.S.C. 78s(b)(3)(A). 

11 17 CFR 240.19b–4(f)(6). 

12 17 CFR 240.19b–4(f)(6)(iii). 

13For purposes only of waiving the 30-day 

operative delay of this proposal, the Commission 

has considered the proposed rule’s impact on 

efficiency, competition, and capital formation. 15 

U.S.C. 78c(f). 14 17 CFR 200.30–3(a)(12). 

upon the revenue generated by NSX 

members in the three tapes.7

NASD filed the proposed rule change 

for immediate effectiveness. NASD 

proposes to implement the proposed 

rule change (1) for Nasdaq-listed 

securities on the first day of operation 

of the NADS/NSX TRF, which is 

currently anticipated to be in November 

2006, and (2) for non-Nasdaq exchangelisted securities on the day on which the 

NASD/NSX TRF commences operation 

with respect to such securities. 

2. Statutory Basis 

NASD believes that the proposed rule 

change is consistent with the provisions 

of Section 15A of the Act,8 in general, 

and with Section 15A(b)(5) of the Act,9

in particular, which requires, among 

other things, that NASD rules provide 

for the equitable allocation of reasonable 

dues, fees and other charges among 

members and issuers and other persons 

using any facility or system that NASD 

operates or controls. NASD believes that 

the proposed rule change is a reasonable 

and equitable fee and credit structure in 

that there will be no fees charged for 

trade reporting to the NASD/NSX TRF 

for locked-in transactions in exchangelisted securities effected otherwise than 

on an exchange, and the proposed 

transaction credit program is identical 

to existing credits for the NSX. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

NASD does not believe that the 

proposed rule change will result in 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 

Written comments were neither 

solicited nor received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing 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 

from the date on which it was filed, or 

such shorter time as the Commission 

may designate, it has become effective 

pursuant to Section 19(b)(3)(A) of the 

Act 10 and Rule 19b–4(f)(6) 

thereunder.11 At any time within 60 

days of the filing of the proposed rule 

change, the Commission may summarily 

abrogate such 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. 

NASD has asked that the Commission 

waive the 30-day operative delay 

contained in Rule 19b–4(f)(6)(iii) under 

the Act.12 The Commission believes 

such waiver is consistent with the 

protection of investors and the public 

interest, for it will allow NASD to 

implement the proposed rule change on 

the first day of operation of the NASD/ 

NSX TRF. For these reasons, the 

Commission designates the proposal to 

be effective and operative upon filing 

with the Commission.13

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–NASD–2006–127 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-NASD–2006–127. 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 NASD. 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–NASD–2006–127 and 

should be submitted on or before 

December 18, 2006. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.14

Nancy M. Morris, 

Secretary. 

[FR Doc. E6–19967 Filed 11–24–06; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF TRANSPORTATION 

Surface Transportation Board 

[STB Finance Docket No. 34792] 

Portland & Western Railroad, Inc.—

Acquisition and Operation 

Exemption—Union Pacific Railroad 

Company 

Portland & Western Railroad, Inc. 

(P&W), a Class III rail carrier, has filed 

a verified notice of exemption under 49 

CFR 1150.41 to acquire a permanent, 

exclusive rail freight operating easement 

from Union Pacific Railroad Company 

(UP) to operate over an approximately 5- 

mile rail line between milepost 749.95 

in Tigard, OR, and milepost 755.43 in 


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Federal Register / Vol. 71, No. 227 / Monday, November 27, 2006 / Notices 68669 

1P&W seeks a waiver of the notice requirements 

of 49 CFR 1150.42(e). The Board will address that 

request in a separate decision. In the absence of a 

waiver granted by the Board on or before November 

27, 2006, the earliest the transaction would be able 

to be consummated would be the date established 

by the Board as the effective date of the exemption 

in the decision addressing the waiver request. 

Beaverton, OR. Currently, P&W 

conducts local and overhead freight 

operations on the rail line pursuant to 

a lease with UP. The proposed 

transaction will change P&W’s property 

interest in the rail line, but P&W will 

continue to operate over the line as the 

only common carrier providing rail 

freight service. 

P&W has certified that its projected 

annual revenues as a result of this 

transaction will not exceed the annual 

revenues of a Class III railroad, but will 

exceed $5 million. 

The transaction is scheduled to be 

consummated by no later than 

November 27, 2006.1

If the verified notice contains false or 

misleading information, the exemption 

is void ab initio. Petitions to revoke the 

exemption under 49 U.S.C. 10502(d) 

may be filed at any time. The filing of 

a petition to revoke will not 

automatically stay the transaction. 

An original and 10 copies of all 

pleadings, referring to STB Finance 

Docket No. 34792, must be filed with 

the Surface Transportation Board, 1925 

K Street, NW., Washington, DC 20423–

0001. In addition, a copy of any 

pleading filed with the Board must be 

sent to P&W’s representative: Marc D. 

Machlin, 600 Fourteenth Street, NW., 

Washington, DC 20005. 

Board decisions and notices are 

available on our Web site at 

‘‘WWW.STB.DOT.GOV.’’

Decided: November 16, 2006. 

By the Board, David M. Konschnik, 

Director, Office of Proceedings. 

Vernon A. Williams, 

Secretary. 

[FR Doc. 06–9416 Filed 11–24–06; 8:45 am] 

BILLING CODE 4915–01–P 

UNITED STATES INSTITUTE OF 

PEACE 

Notice of Meeting 

DATE/TIME: Tuesday, November 28, 2006, 

9 a.m.–3 p.m. 

LOCATION: 1200 17th Street, NW., Suite 

200, Washington, DC 20036–3011. 

STATUS: Open Session—Portions may be 

closed pursuant to Subsection (c) of 

Section 552(b) of Title 5, United States 

Code, as provided in subsection 

1706(h)(3) of the United States Institute 

of Peace Act, Public Law 98–525. 

AGENDA: November 28, 2006 Board 

Meeting; Approval of Minutes of the 

One Hundred Twenty-Fourth Meeting 

(September 28, 2006) of the Board of 

Directors; Chairman’s Report; 

President’s Report; Budget Update; Iraq 

Study Group Update; Other General 

Issues. 

CONTACT: Tessie F. Higgs, Executive 

Office, Telephone: (202) 429–3836. 

Dated: November 20, 2006. 

Patricia P. Thomson, 

Executive Vice President, United States 

Institute of Peace. 

[FR Doc. 06–9415 Filed 11–22–06; 10:33 am] 

BILLING CODE 6820–AR–M 


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