8234 Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices 

7 15 U.S.C. 78f(b)(4). 

8 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

The Listing Fee schedule for ICUs is 

not being changed as to amount, but 

would be amended to include 

application of the $5,000 Listing Fee to 

specified securities other than ICUs. The 

revised Annual Fee will be billed 

quarterly in arrears effective as of 

January 1, 2007. As such, billing for the 

first calendar quarter of 2007 will be 

based on the number of shares 

outstanding for an issue on March 30, 

2007. For example, for an issue with 45 

million shares outstanding on March 30, 

2007, the Annual Fee payable for the 

quarter would be $1,000 ($4,000 Annual 

Fee divided by 4). If, at the end of the 

second calendar quarter of 2007, the 

number of shares outstanding for such 

issue increased to 55 million, the 

Annual Fee payable for such quarter 

would be $2,000 ($8,000 Annual Fee 

divided by 4). The Exchange believes it 

is appropriate to apply the revised 

Annual Fees to issuers of the specified 

securities as of January 1, 2007 to permit 

the Exchange to apply the fee in the 

same manner to all such issuers, 

including those listed on the Exchange 

in the first quarter of 2007. 

The Exchange further proposes to 

amend Section 902.02 of the Manual 

(General Information on Fees) to 

specify: (1) That the fees set forth in 

Section 902 are also applicable to ICUs, 

streetTRACKS Gold Shares, Currency 

Trust Shares and Commodity Trust 

Shares; (2) that Listing Fees are based on 

the number of shares issued and 

outstanding, with the exception of ICUs, 

streetTRACKS Gold Shares, Currency 

Trust Shares, and Commodity Trust 

Shares; (3) that Annual Fees are 

calculated on a per share basis, with the 

exception of ICUs, streetTRACKS Gold 

Shares, Currency Trust Shares, and 

Commodity Trust Shares; and (4) that 

the $500,000 per year fee cap in Section 

902.02 does not apply to ICUs, 

streetTRACKS Gold Shares, Currency 

Trust Shares, and Commodity Trust 

Shares. Section 902.03 of the Manual 

(Fees for Listed Equity Securities) is 

proposed to be amended to specify that 

such section does not apply to 

streetTRACKS Gold Shares, Currency 

Trust Shares, and Commodity Trust 

Shares (in addition to ICUs, closed-end 

funds, structured products, and shortterm securities.) 

2. Statutory Basis 

The basis under the Act for this 

proposed rule change is the requirement 

under Section 6(b)(4) of the Act 7 that an 

exchange have rules that provide for the 

equitable allocation of reasonable dues, 

fees, and other charges among its 

members, issuers and other persons 

using its facilities. 

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 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 neither solicited 

nor received written comments on the 

proposed rule change. 

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, or 

(B) Institute proceedings to determine 

whether the proposed rule change 

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 is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form at http://www.sec.gov/ 

rules/sro.shtml; or 

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

No. SR–NYSE–2007–01 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 No. 

SR–NYSE–2007–01. 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 at 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, 100 F Street, NE., Washington, 

DC 20549. 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 No. 

SR–NYSE–2007–01 and should be 

submitted on or before March 16, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–3066 Filed 2–22–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55295; File No. SR–

NYSEArca–2007–13] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to NYSE Arca 

Marketplace Trading Sessions 

February 14, 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 

6, 2007, NYSE Arca, Inc. (‘‘NYSE Arca’’

or ‘‘Exchange’’), through its wholly 

owned subsidiary NYSE Arca Equities, 

Inc. (‘‘NYSE Arca Equities’’), filed with 

the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change as described in 

Items I and II below, which Items have 

been substantially prepared by the 

Exchange. The Exchange filed the 

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


cprice-sewell on PROD1PC61 with NOTICES
Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices 8235 

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

4 17 CFR 240.19b–4(f)(6). 

5NYSE Arca Equities Rules 5.1(b)(13), 5.2(j)(3), 

8.100, 8.200, 8.201, 8.202, 8.203, 8.300, and 8.400 

relate to Unit Investment Trusts, Investment 

Company Units, Portfolio Depositary Receipts, 

Trust Issued Receipts, Commodity-Based Trust 

Shares, Currency Trust Shares, Commodity Index 

Trust Shares, Partnership Units, and Paired Trust 

Shares, respectively. See Securities Exchange Act 

Release No. 54997 (December 21, 2006), 71 FR 

78501 (December 29, 2006) (SR–NYSEArca–2006–

77) (amending NYSE Arca Equities Rule 7.34). 

6To make the list more transparent and easier to 

update, the list has been alphabetized and the 

number system removed. 

7The Commission approved the trading of the 

Shares of the Funds on the NYSE Arca Marketplace 

pursuant to UTP in Securities Exchange Act Release 

No. 55125 (January 18, 2007), 72 FR 3462 (January 

25, 2007) (SR–NYSEArca–2006–87). 

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

9 15 U.S.C. 78f(b)(5). 

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

11 17 CFR 240.19b–4(f)(6). In addition, Rule 19b–

4(f)(6) requires an exchange to give the Commission 

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 days prior 

to the date of filing of the proposed rule change, or 

such shorter time as designated by the Commission. 

The Commission has determined to waive the fiveday pre-filing notice requirement in this case. 

of the Act 3 and Rule 19b–4(f)(6) 

thereunder,4 which renders the 

proposed rule change effective upon 

filing with the Commission. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes, through 

NYSE Arca Equities, to update the list 

in NYSE Arca Equities Rule 7.34 of 

securities eligible to trade in one or 

more, but not all three, of the 

Exchange’s trading sessions. The 

Exchange proposes to add to the list 

shares of certain Funds (‘‘Shares’’) that 

are traded on NYSE Arca, L.L.C. (‘‘NYSE 

Arca Marketplace’’), the equities trading 

facility of NYSE Arca Equities, pursuant 

to unlisted trading privileges (‘‘UTP’’). 

The text of the proposed rule change is 

available on the Exchange’s Web site 

(http://www.nysearca.com), 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. 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 

NYSE Arca Equities Rule 7.34 

currently provides, in part, that the 

NYSE Arca Marketplace shall have three 

trading sessions each day: an Opening 

Session (1 a.m. Pacific Time (‘‘PT’’) to 

6:30 a.m. PT), a Core Trading Session 

(6:30 a.m. PT to 1 p.m. PT) and a Late 

Trading Session (1 p.m. PT to 5 p.m. 

PT), and that the Core Trading Session 

for securities described in NYSE Arca 

Equities Rules 5.1(b)(13), 5.1(b)(18), 

5.2(j)(3), 8.100, 8.200, 8.201, 8.202, 

8.203, 8.300, and 8.400 (each, a 

‘‘Derivative Securities Product’’) shall 

conclude at 1:15 pm PT.5

NYSE Arca Equities Rule 7.34 

includes a list of those securities which 

are eligible to trade in one or more, but 

not all three, of the Exchange’s trading 

sessions.6 The Exchange maintains on 

its Internet Web site (http:// 

www.nysearca.com) a list that identifies 

all securities traded on the NYSE Arca 

Marketplace that do not trade for the 

duration of each of the three sessions 

specified in NYSE Arca Equities Rule 

7.34. 

The Exchange proposes to add the 

following securities to these lists: (1) 

Ultra Basic Materials ProShares; (2) 

Ultra Consumer Goods ProShares; (3) 

Ultra Consumer Services ProShares; (4) 

Ultra Financials ProShares; (5) Ultra 

Health Care ProShares; (6) Ultra 

Industrials ProShares; (7) Ultra Oil & 

Gas ProShares; (8) Ultra Real Estate 

ProShares; (9) Ultra Semiconductors 

ProShares; (10) Ultra Technology 

ProShares; (11) Ultra Utilities 

ProShares; (12) UltraShort Basic 

Materials ProShares; (13) UltraShort 

Consumer Goods ProShares; (14) 

UltraShort Consumer Services 

ProShares; (15) UltraShort Financials 

ProShares; (16) UltraShort Health Care 

ProShares; (17) UltraShort Industrials 

ProShares; (18) UltraShort Oil & Gas 

ProShares; (19) UltraShort Real Estate 

ProShares; (20) UltraShort 

Semiconductors ProShares; (21) 

UltraShort Technology ProShares; and 

(22) UltraShort Utilities ProShares 

(‘‘Funds’’).7

In addition, the Exchange proposes to 

change the names of the following 

securities on the lists to reflect their 

respective new names: (1) 

StreetTRACKS Dow Jones STOXX 50 

Fund is renamed DJ STOXX 50 ETF; 

(2) streetTRACKS Dow Jones Euro 

STOXX 50 Fund is renamed DJ EURO 

50 ETF; and (3) streetTRACKS Dow 

Jones Global Titans Fund is renamed 

SPDR DJ Global Titans ETF. These 

securities are traded on the NYSE Arca 

Marketplace pursuant to UTP and are 

Investment Company Units, described 

in Exchange Rule 5.2(j)(3). 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,8 in general, and 

furthers the objectives of Section 

6(b)(5),9 in particular, in that it is 

designed to facilitate transactions in 

securities, to promote just and equitable 

principles of trade, to enhance 

competition, and to protect investors 

and the public interest. 

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 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 neither solicited 

nor received written comments on the 

proposed rule change. 

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, it has become effective 

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

Act 10 and Rule 19b–4(f)(6) 

thereunder.11

The Exchange has asked the 

Commission to waive the 30-day 

operative delay. The Commission 

believes that such waiver is consistent 

with the protection of investors and the 

public interest because the proposed 

rule change should provide 

transparency and more clarity with 

respect to the trading hours eligibility of 

certain derivative securities products 

and should promote consistency in the 

trading halts of derivative securities. 


cprice-sewell on PROD1PC61 with NOTICES
8236 Federal Register / Vol. 72, No. 36 / Friday, February 23, 2007 / Notices 

12For purposes only of waiving the operative date 

of this proposal, the Commission has considered 

the rule’s impact on efficiency, competition, and 

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

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)(iii). 

4 17 CFR 240.19b–4(f)(4). 

5The Commission has modified the text of the 

summaries prepared by OCC. 

6OCC is aware that some markets may not have 

systems capable of making such identifications. 

7This step requires the clearing member to 

assume for each account that all trades defaulted to 

open, that OCC has received correct information on 

all trades, and that post-trade instructions affecting 

The Commission notes that this filing 

does not change the trading hours of the 

Derivative Securities Products listed in 

NYSE Arca Equities Rule 7.34, but 

codifies trading hour sessions that have 

been established through other rule 

changes or through the use of the 

Exchange’s generic listing standards 

pursuant to Rule 19b–4(e) under the 

Act. For these reasons, the Commission 

designates the proposed rule change as 

operative immediately.12

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

Number SR–NYSEArca–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–NYSEArca–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 such filing will also 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–2007–13 and should be 

submitted by or before March 16, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–3067 Filed 2–22–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55307; No. SR–OCC–2006–

22] 

Self-Regulatory Organizations; The 

Options Clearing Corporation; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change To Enhance 

Futures Clearing Services by Providing 

an Alternative Method for Effecting 

Gross Position Adjustments and 

Certain Trade Management Services 

February 15, 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 December 

19, 2006, The Options Clearing 

Corporation (‘‘OCC’’) 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 

primarily by OCC. OCC filed the 

proposed rule change pursuant to 

Section 19(b)(3)(A)(iii) of the Act 3 and 

Rule 19b–4(f)(4) 4 thereunder, which 

renders the proposal effective upon 

filing with the Commission. The 

Commission is publishing this notice to 

solicit comments on the rule change 

from interested parties. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

OCC proposes to amend Rule 401 to 

accommodate an alternative method for 

effecting gross position adjustments and 

to enable members to update certain 

non-critical trade information. The text 

of the proposed rule change is available 

at http://www.optionsclearing.com, at 

the OCC, 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, 

OCC 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. OCC has prepared 

summaries, set forth in sections (A), (B), 

and (C) below, of the most significant 

aspects of these statements.5

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

OCC proposes to amend Rule 401 to 

accommodate an alternative method for 

effecting gross position adjustments and 

to enable members to update certain 

non-critical trade information. 

Position Adjustments 

Following the practice in the futures 

markets, OCC does not require that 

matched trade information submitted by 

a market identify each trade as opening 

or closing.6 If a market elects to submit 

trade information without opening or 

closing identifiers, OCC treats all 

transactions as opening transactions. A 

clearing member then submits gross 

position adjustment information at the 

end of the day to reduce its positions to 

reflect the actual open interest in its 

accounts. In order to calculate gross 

position adjustment information for 

each position in a series of futures 

contracts, a clearing member must: 

determine its net ending position in that 

series; calculate its gross ending 

position in that series on OCC’s books;7


cprice-sewell on PROD1PC61 with NOTICES