52588 Federal Register / Vol. 72, No. 178 / Friday, September 14, 2007 / Notices 

Guaranty Corporation, 1200 K Street, 

NW., Washington, DC 20005, 202–326–

4024. (TTY/TDD users may call the 

Federal relay service toll-free at 1–800–

877–8339 and ask to be connected to 

202–326–4024.) 

SUPPLEMENTARY INFORMATION: 

Variable-Rate Premiums 

Section 4006(a)(3)(E)(iii)(II) of the 

Employee Retirement Income Security 

Act of 1974 (ERISA) and § 4006.4(b)(1) 

of the PBGC’s regulation on Premium 

Rates (29 CFR part 4006) prescribe use 

of an assumed interest rate (the 

‘‘required interest rate’’) in determining 

a single-employer plan’s variable-rate 

premium. Pursuant to the Pension 

Protection Act of 2006, for premium 

payment years beginning in 2006 or 

2007, the required interest rate is the 

‘‘applicable percentage’’ of the annual 

rate of interest determined by the 

Secretary of the Treasury on amounts 

invested conservatively in long-term 

investment grade corporate bonds for 

the month preceding the beginning of 

the plan year for which premiums are 

being paid (the ‘‘premium payment 

year’’). 

On February 2, 2007 (at 72 FR 4955), 

the Internal Revenue Service (IRS) 

published final regulations containing 

updated mortality tables for determining 

current liability under section 412(l)(7) 

of the Code and section 302(d)(7) of 

ERISA for plan years beginning on or 

after January 1, 2007. As a result, in 

accordance with section 

4006(a)(3)(E)(iii)(II) of ERISA, the 

‘‘applicable percentage’’ to be used in 

determining the required interest rate 

for plan years beginning in 2007 is 100 

percent. 

The required interest rate to be used 

in determining variable-rate premiums 

for premium payment years beginning 

in September 2007 is 6.33 percent (i.e., 

100 percent of the 6.33 percent 

composite corporate bond rate for 

August 2007 as determined by the 

Treasury). 

The following table lists the required 

interest rates to be used in determining 

variable-rate premiums for premium 

payment years beginning between 

October 2006 and September 2007. 

For premium payment years 

beginning in 

The required 

interest rate is 

October 2006 ........................ 5.06 

November 2006 .................... 5.05 

December 2006 .................... 4.90 

January 2007 ........................ 5.75 

February 2007 ...................... 5.89 

March 2007 ........................... 5.85 

April 2007 ............................. 5.84 

May 2007 .............................. 5.98 

June 2007 ............................. 6.01 

For premium payment years 

beginning in 

The required 

interest rate is 

July 2007 .............................. 6.32 

August 2007 ......................... 6.33 

September 2007 ................... 6.33 

Multiemployer Plan Valuations 

Following Mass Withdrawal 

The PBGC’s regulation on Duties of 

Plan Sponsor Following Mass 

Withdrawal (29 CFR part 4281) 

prescribes the use of interest 

assumptions under the PBGC’s 

regulation on Allocation of Assets in 

Single-Employer Plans (29 CFR part 

4044). The interest assumptions 

applicable to valuation dates in October 

2007 under part 4044 are contained in 

an amendment to part 4044 published 

elsewhere in today’s Federal Register. 

Tables showing the assumptions 

applicable to prior periods are codified 

in appendix B to 29 CFR part 4044. 

Issued in Washington, DC, on this 11th day 

of September 2007. 

Vincent K. Snowbarger, 

Deputy Director, Pension Benefit Guaranty 

Corporation. 

[FR Doc. E7–18158 Filed 9–13–07; 8:45 pm] 

BILLING CODE 7709–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

Sunshine Act Meeting; Federal 

Register Citation of Previous 

Announcement; 72 FR 51281, 

September 6, 2007 

STATUS: Closed meeting. 

PLACE: 100 F Street, NE., Washington, 

DC. 

ANNOUNCEMENT OF ADDITIONAL MEETING: 

Additional meeting. 

The Commission has scheduled a 

closed meeting for Wednesday, 

September 12, 2007 at 10:30 a.m. 

Commissioners, Counsel to the 

Commissioners, the Secretary to the 

Commission, and recording secretaries 

will attend the closed meeting. Certain 

staff members who have an interest in 

the matters may also be present. 

The General Counsel of the 

Commission, or his designee, has 

certified that, in his opinion, exemption 

5 U.S.C. 552b(c)(3), (5), (7), (9)(ii) and 

(10) and 17 CFR 200.402(a)(3), (5), (7), 

(9)(ii) and (10) permit consideration of 

the scheduled matters at the Closed 

Meeting. 

Commissioner Casey, as duty officer, 

voted to consider the items listed for the 

closed meeting in closed session, and 

determined that no earlier notice thereof 

was possible. 

The subject matter of the closed 

meeting scheduled for Wednesday, 

September 12, 2007 will be: 

Institution and settlement of injunctive 

actions; 

Institution and settlement of 

administrative proceedings of an 

enforcement nature; and 

Other matters related to enforcement 

proceedings. 

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. 

September 11, 2007. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–18214 Filed 9–13–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[File No. 500–1] 

In the Matter of Terax Energy, Inc.; 

Order of Suspension of Trading 

September 12, 2007. 

It appears to the Securities and 

Exchange Commission that there is a 

lack of current and accurate information 

concerning the securities of Terax 

Energy, Inc. (‘‘Terax,’’ trading symbol 

TEXG.OB), because of questions 

regarding the accuracy of assertions by 

Terax and by others, in reports filed 

with the Commission and in press 

releases to investors concerning, among 

other things: (1) The status of Terax’s oil 

and gas operations, (2) Terax’s 

purported financing agreements, (3) 

Terax’s supposed acquisition of a 

controlling interest in a foreign oil and 

gas firm, (4) the existence, terms and 

status of a purported share exchange 

agreement between Terax and Westar 

Oil, Inc., and (5) the identity of the 

persons in control of the operations and 

management of Terax. 

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 

12, 2007 through 11:59 p.m. EDT, on 

September 26, 2007. 


rmajette on PROD1PC64 with NOTICES
Federal Register / Vol. 72, No. 178 / Friday, September 14, 2007 / Notices 52589 

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

2 17 CFR 240.19b–4. 

3 In Amendment No. 1, the Exchange made 

technical, non-substantive corrections to the filing. 

4 15 U.S.C. 78s(b)(3)(A). 

5 17 CFR 240.19b–4(f)(6). 

6See Securities Exchange Act Release No. 53543 

(March 23, 2006), 71 FR 15780 (March 29, 2006) 

(SR–CBOE–2006–21). 

By the Commission. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. 07–4584 Filed 9–12–07; 12:00 pm] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–56377; File No. SR–Amex–

2007–84] 

Self-Regulatory Organizations; 

American Stock Exchange, LLC; 

Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change, as Modified by Amendment 

No. 1 Thereto, Relating to Commentary 

.02 to Amex Rule 950–ANTE(d) 

September 10, 2007. 

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 7, 

2007, the American Stock Exchange, 

LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II, below, which Items have 

been prepared substantially by the 

Exchange. On September 7, 2007, the 

Exchange filed Amendment No. 1 to the 

proposal.3 The Exchange filed the 

proposal as a ‘‘non-controversial’’

proposed rule change pursuant to 

Section 19(b)(3)(A),4 and Rule 19b–

4(f)(6) thereunder,5 which renders the 

proposal effective upon filing with the 

Commission. The Commission is 

publishing this notice to solicit 

comments 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 Exchange proposes to amend 

Commentary .02 to Rule 950–ANTE(d) 

to permit the member firm guarantee to 

be set at either 20% or 40% and to 

permit the guarantee to apply to certain 

specified solicited orders. 

The text of the proposed rule change 

is available on the Amex’s Web site at 

http://www.amex.com, the Amex’s 

Office of the Secretary, 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 

Amex 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 Amex 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 

The purpose of this proposed rule 

change is to permit the Facilitation 

Procedures Committee (‘‘Committee’’), 

appointed by the Board, on a class-byclass basis, to apply the member firm 

guarantee currently available for 

facilitation crosses, to solicited orders 

which improve the quoted market. The 

Exchange proposes either a 20% or a 

40% guarantee, to be determined by the 

Committee. The current member firm 

guarantee provides that a member firm 

is entitled to a participation guarantee of 

40% if the order is traded at a price that 

matches or improves the market. The 

Amex submits that the proposal is 

similar to amendments adopted by the 

Chicago Board Options Exchange, 

Incorporated (‘‘CBOE’’).6

A solicited order is an order solicited 

by a member firm (floor broker) to trade 

with another order. The Amex submits 

that orders which improve the quoted 

market that are solicited in order to 

facilitate a public customer order should 

receive a similar guaranteed 

participation as a member firm 

facilitating its customer’s order if so 

determined by the Facilitation 

Procedures Committee. 

Pursuant to Commentary .02(a)–(c) to 

Rule 950–ANTE(d), a floor broker 

holding an order for its public customer 

and a facilitation order is permitted to 

cross the orders if (i) floor broker 

discloses on its order ticket for the 

public customer order which is subject 

to facilitation, all the terms of such 

order, including, if applicable, any 

contingency involving other options, 

underlying securities, or related 

securities; (ii) the floor broker requests 

bids and offers for the option series 

subject to facilitation, then discloses the 

public customer order and any 

contingency respecting such order 

which is subject to facilitation and 

identifies the order as being subject to 

facilitation; and (iii) after providing an 

opportunity for such bids and offers to 

be made, the floor broker on behalf of 

the public customer whose order is 

subject to facilitation, either bids at or 

above the highest bid or at or below the 

lowest offer in the market. After all 

other market participants are given an 

opportunity to accept the bid or offer 

made on behalf of the public customer 

whose order is subject to facilitation, the 

floor broker may cross all or any 

remaining part of such order and the 

facilitation order at such customer’s bid 

or offer by announcing in public outcry 

that he is crossing such orders, stating 

the quantity and price(s). 

Notwithstanding the provisions 

provided for in Commentary .02(a)–(c) 

of 950–ANTE(d), in cases where a 

member firm is seeking to facilitate its 

own public customer’s order, 

Commentary .02(d)(1) to Rule 950–

ANTE(d) currently provides that 

member firms are entitled to participate 

in the firm’s proprietary account as the 

contra-side of that order to the extent of 

40% of the remaining contracts, after 

public customer orders on the 

specialist’s book or customer orders 

represented by a floor broker in the 

crowd have been filled, provided the 

order trades at a price that matches or 

improves the market. This member firm 

guarantee provides, under certain 

conditions, the ability to cross 40% of 

the customer order on behalf of a 

member organization before the 

specialist and/or registered options 

traders in the crowd can participate in 

the transaction. The provision generally 

applies to orders of 400 contracts or 

more. However, the Exchange is 

currently permitted to establish smaller 

eligible order sizes, on a class-by-class 

basis, provided that size is not for fewer 

than 50 contracts. 

The proposed amendments to 

Commentary .02(d) to Rule 950–ANTE 

would allow the Committee to (i) 

determine if solicited orders which 

improve the quoted market may be 

crossed in the same manner as 

facilitation cross transactions, including 

that the floor broker complies with the 

disclosure and quote request process 

described above and (ii) to establish 

smaller eligible order sizes (i.e., less 

than 400 contracts but not less than 50 

contracts), a determination that is 

currently made by the Exchange. 

Current Commentary .02(d)(1) to Rule 

950–ANTE(d) permits a member seeking 

to facilitate its own public customer’s 


rmajette on PROD1PC64 with NOTICES