9056 Federal Register / Vol. 72, No. 39 / Wednesday, February 28, 2007 / Notices 

13 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

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

4 17 CFR 240.19b–4(f)(6). 

5See Exchange Rule 1085(b)(7). 

6See Exchange Rules 1066(f) and (g). 

7See Exchange Rules 1033(f), (g), and (h). 

8See File No. SR-Phlx-2006–91. 

9See Securities Exchange Act Release No. 55138 

(January 19, 2007), 72 FR 3451 (January 25, 2007) 

(order approving File Nos. SR–Amex–2006–119; 

SR–BSE–2006–55; SR–CBOE–2006–109; SR–ISE–

2006–73; and SR–NYSEArca–2007–01). 

10 15 U.S.C. 78f(b). 

11 15 U.S.C. 78f(b)(5). 

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–Phlx–2007–13 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–Phlx–2007–13. 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 the filing also will be 

available for inspection and copying at 

the principal office of the Phlx. 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–Phlx–2007–13 and should 

be submitted on or before March 21, 

2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–3491 Filed 2–27–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55331; File No. SR–Phlx–

2007–09] 

Self-Regulatory Organizations; 

Philadelphia Stock Exchange, Inc.; 

Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to the Definition of 

‘‘Complex Trade’’

February 22, 2007. 

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 February 

7, 2007, the Philadelphia Stock 

Exchange, Inc. (‘‘Phlx’’ 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 substantially prepared by the 

Phlx. The Exchange filed the proposal 

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

Act 3 and Rule 19b–4(f)(6) thereunder,4

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 Phlx proposes to amend 

Exchange Rule 1083(c) to revise the 

definition of ‘‘Complex Trade’’ as that 

definition applies to trades under the 

Plan for the Purpose of Creating and 

Operating an Options Intermarket 

Linkage (the ‘‘Linkage Plan’’). The text 

of the proposed rule change is available 

at the Exchange, in the Commission’s 

Public Reference Room, and at http:// 

www.phlx.com/exchange/ 

phlx_rule_fil.html. 

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 

Phlx 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 Phlx 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 the proposed rule 

change is to amend the definition of 

‘‘Complex Trade’’ in the Exchange’s 

rules that relate to the Linkage Plan. For 

Linkage purposes, Exchange Rule 

1083(c) currently defines a ‘‘Complex 

Trade’’ as a trade reflecting the 

execution of an order in an options 

series in conjunction with one or more 

other orders in different series in the 

same underlying security for the 

equivalent number of contracts. 

Under the proposal, a ‘‘Complex 

Trade’’ includes a spread, straddle, or 

combination order where the number of 

contracts on the legs of the spread, 

straddle, or combination order differs by 

any ratio equal to or greater than oneto-three and less than or equal to threeto-one. A Complex Trade is exempt 

from trade-through liability.5

The Exchange notes that its current 

rules provide that the components of 

spread, straddle, and combination 

orders must generally offset one another 

on a one-for-one basis,6 and that priority 

concerning ratio and other types of 

spreads currently applies only to foreign 

currency options.7 In order to make 

those rules and the instant proposal 

consistent, the Exchange has filed a 

separate proposed rule change to permit 

such order types on other than a onefor-one basis, and to establish priority 

for such orders in all options traded on 

the Exchange.8

This proposal would adopt the same 

definition of ‘‘Complex Trade’’ for 

Linkage Plan purposes as that adopted 

by other options exchanges.9

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,10 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,11

in particular, in that it is designed to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general, to protect 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 72, No. 39 / Wednesday, February 28, 2007 / Notices 9057 

12 15 U.S.C. 78s(b)(3)(A). 

13 17 CFR 240.19b–4(f)(6). 

14 17 CFR 240.19b–4(f)(6)(iii). 15 17 CFR 200.30–3(a)(12). 

investors and the public interest by 

establishing a uniform definition of 

‘‘Complex Trade’’ for purposes of the 

Linkage Plan. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition 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 

No written comments were either 

solicited or 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 if 

consistent with the protection of 

investors and the public interest, the 

proposed rule change has become 

effective pursuant to Section 19(b)(3)(A) 

of the Act 12 and Rule 19b–4(f)(6) 

thereunder.13 As required by Rule 19b–

4(f)(6)(iii),14 the Phlx provided the 

Commission with written notice of its 

intent to file the proposed rule change, 

along with a brief description and text 

of the proposed rule change, at least five 

business days prior to the date of filing 

of the proposed rule change. 

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. 

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–Phlx–2007–09 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–Phlx–2007–09. 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 the filing also will be 

available for inspection and copying at 

the principal office of the Phlx. 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–Phlx–2007–09 and should 

be submitted on or before March 21, 

2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.15

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–3492 Filed 2–27–07; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF TRANSPORTATION 

Office of the Secretary 

Proposed Revocation of the Canadian 

Charter Air Taxi Authority of FlightOps International, Inc., D/B/A 

SkyXpress Airline 

AGENCY: Department of Transportation. 

ACTION: Notice of Order To Show Cause 

(Order 2007–2–20), Docket OST–2003–

15099. 

SUMMARY: The Department of 

Transportation is directing all interested 

persons to show cause why it should 

not issue an order revoking the 

Canadian charter air taxi registration of 

Flight-Ops International d/b/a 

SkyXpress Airline. 

DATES: Persons wishing to file 

objections should do so no later than 

March 7, 2007. 

ADDRESSES: Objections and answers to 

objections should be filed in Docket 

OST–2003–15099 and addressed to U.S. 

Department of Transportation, Docket 

Operations, (M–30, Room PL–401), 400 

Seventh Street, SW., Washington, DC 

20590, and should be served upon the 

parties listed in Attachment A to Order 

2007–2–20. 

FOR FURTHER INFORMATION CONTACT: 

Jonathan R. Dols, Office of Aviation 

Enforcement and Proceedings (C–70, 

Room 4116), U.S. Department of 

Transportation, 400 Seventh Street, 

SW., Washington, DC 20590, (202) 366–

9342. 

Dated: February 20, 2007. 

Andrew Steinberg, 

Assistant Secretary for Aviation and 

International Affairs. 

[FR Doc. 07–880 Filed 2–27–07; 8:45 am] 

BILLING CODE 4910–9X–M 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

Aviation Rulemaking Advisory 

Committee Meeting on Transport 

Airplane and Engine Issues 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of public meeting. 

SUMMARY: This notice announces a 

public meeting of the FAA’s Aviation 

Rulemaking Advisory Committee 

(ARAC) to discuss transport airplane 

and engine (TAE) issues. 

DATES: The meeting is scheduled for 

Thursday, March 22, 2007 starting at 9 

a.m. Daylight Savings Time. Arrange for 

oral presentations by March 8, 2007. 


sroberts on PROD1PC70 with NOTICES