10796 Federal Register / Vol. 72, No. 46 / Friday, March 9, 2007 / Notices 

12 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78s(b)(3)(A)(i). 

3 17 CFR 240.19b–4(f)(1). 4 15 U.S.C. 78q–1. 

thereunder because it does not: (i) 

Significantly affect the protection of 

investors or the public interest; (ii) 

impose any significant burden on 

competition; (iii) become operative for 

30 days from the date on which it was 

filed, or such shorter time as the 

Commission may designate; and the 

Exchange has given the Commission 

written notice of its intention to file the 

proposed rule change at least five 

business days prior to filing. 

At any time within 60 days of the 

filing of such 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–CBOE–2007–18 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–CBOE–2007–18. 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 

Section, 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 CBOE. 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–CBOE–2007–18 and should 

be submitted on or before March 30, 

2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.12

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–4191 Filed 3–8–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55390; File No. SR–DTC–

2007–03] 

Self-Regulatory Organizations; The 

Depository Trust Company; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

New York Governing Law 

March 2, 2007. 

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

Securities Exchange Act of 1934 

(‘‘Act’’),1 notice is hereby given that on 

February 8, 2007, The Depository Trust 

Company (‘‘DTC’’) 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 substantially by DTC. DTC 

filed the proposed rule change pursuant 

to Section 19(b)(3)(A)(i) of the Act2 and 

Rule 19b–4(f)(1)3 thereunder so that the 

proposal was 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 

DTC is adding a new Section 4 to Rule 

1 (Definitions) to clarify that the ByLaws, Rules, and Procedures are 

governed by New York state law. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

DTC 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. DTC 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 

DTC is adding a new Section 4 to Rule 

1 to clarify that the By-Laws, Rules, and 

Procedures are governed by New York 

state law. DTC’s participant’s and 

pledgee’s agreements currently specify 

this choice of law, but DTC wishes to 

add such language explicitly to its rules 

for transparency purposes and to 

harmonize DTC’s rules with those of its 

clearing agency affliliates, the Fixed 

Income Clearing Corporation and the 

National Securities Clearing 

Corporation. 

DTC believes that the proposed rule 

change is consistent with the 

requirements of Section 17A of the Act4

and the rules and regulations 

thereunder applicable to DTC because 

the proposed change is a clarification 

that does not adversely affect the 

safeguarding of securities and funds in 

the custody or control of the clearing 

agency or for which it is responsible and 

does not adversely affect the respective 

rights or obligations of the clearing 

agency or its members. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

DTC does not believe that the 

proposed rule change will have any 

impact or impose any burden on 

competition. 

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

DTC has not solicited or received 

written comments relating to the 

proposed rule change. DTC will notify 

the Commission of any written 

comments it receives. 


jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 72, No. 46 / Friday, March 9, 2007 / Notices 10797 

5 15 U.S.C. 78s(b)(3)(A)(i). 

6 17 CFR 240.19b–4(f)(1). 

7 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 55131 

(January 19, 2007), 72 FR 3891 (January 26, 2007) 

(SR–NASDAQ–2006–066). 

4See Securities Exchange Act Release No. 55130 

(January 19, 2007), 72 FR 3892. 

5 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

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

6 15 U.S.C. 78f(b)(4). 

7 15 U.S.C. 78s(b)(2). 

8 17 CFR 200.30–3(a)(12). 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective pursuant to Section 

19(b)(3)(A)(i) of the Act5 and Rule 19b–

4(f)(1)6 thereunder because it constitutes 

a stated policy, practice, or 

interpretation with respect to the 

meaning, administration, or 

enforcement of an existing rule of DTC. 

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 

No. SR–DTC–2007–03 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–DTC–2007–03. 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 

Section, 100 F Street, NE., Washington, 

DC 20549. Copies of such filing also will 

be available for inspection and copying 

at DTC’s principal office and on DTC’s 

Web site at http://www.dtc.org/impNtc/ 

mor/index.html. 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 submission 

should refer to File No. SR–DTC–2007–

03 and should be submitted on or before 

March 30, 2007. 

For the Commission by the Division of 

Market Regulation, pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–4188 Filed 3–8–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55388; File No. SR–

NASDAQ–2006–067] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Order 

Granting Approval of Proposed Rule 

Change To Retroactively Reduce Fees 

for Nasdaq’s Risk Management Service 

March 2, 2007. 

On December 29, 2006, The NASDAQ 

Stock Market LLC (‘‘Nasdaq’’) filed with 

the Securities and Exchange 

Commission (‘‘Commission’’), pursuant 

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

Exchange Act of 1934 (‘‘Act’’)1 and Rule 

19b–4 thereunder,2 a proposed rule 

change to make retroactive to November 

1, 2006, certain reductions in fees 

charged for the Nasdaq Risk 

Management Service (‘‘Service’’). In SR–

NASDAQ–2006–066,3 Nasdaq reduced 

the per trade fee for the Service to 

$0.025, and capped the per month total 

Service fee per clearing firm at $7,500. 

The instant proposed rule change would 

make those same fee and cap reductions 

retroactive to November 1, 2006. Nasdaq 

believes that these fee reductions will 

ensure that Nasdaq’s charges for risk 

management services remain 

competitive with those of providers of 

similar services. The proposed rule 

change was published for notice and 

comment in the Federal Register on 

January 26, 2007.4 The Commission 

received no comments on the proposal. 

The Commission has reviewed 

carefully the proposed rule change and 

finds that the proposed rule change is 

consistent with the requirements of the 

Act and the rules and regulations 

thereunder applicable to a national 

securities exchange 5 and, in particular, 

the requirements of Section 6(b)(4) of 

the Act,6 which requires, among other 

things, that Nasdaq’s 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 which 

Nasdaq operates or controls, and that it 

not unfairly discriminate between 

customers, issuers, brokers or dealers. 

The Commission believes that the 

proposed rule change is consistent with 

these statutory standards. The 

Commission believes that reduction of 

the fee and cap for the Service 

retroactive to November 1, 2006 will 

enhance competition among providers 

of similar services. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act7, that the 

proposed rule change (SR–NASDAQ–

2006–067) be, and it hereby is, 

approved. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–4187 Filed 3–8–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55385; File No. SR–

NASDAQ–2007–018] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Order Granting Accelerated 

Approval of Proposed Rule Change to 

Trade iShares Silver Trust Pursuant to 

Unlisted Trading Privileges 

March 2, 2007. 

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

Securities Exchange Act of 1934 


jlentini on PROD1PC65 with NOTICES