Federal Register / Vol. 72, No. 62 / Monday, April 2, 2007 / Notices 15751 

4 In approving this proposal, the Commission has 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. 15 

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

5 15 U.S.C. 78f(b)(4). 

6See, e.g., Securities Exchange Act Release Nos. 

50603 (October 28, 2004), 69 FR 64614 (November 

5, 2004) (SR–NYSE–2004–22) and 54020 (June 20, 

2006), 71 FR 36579 (June 27, 2006) (SR–NYSE–

2006–35). 

7See, e.g., Securities Exchange Act Release Nos. 

53059 (January 5, 2006), 71 FR 2072 (January 12, 

2006) (SR–Amex–2005–128) and 54007 (June 16, 

2006), 71 FR 36155 (June 23, 2006) (SR–PCX–2006–

16). 

8 15 U.S.C. 78s(b)(2). 

9 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 Securities Exchange Act Release No. 54238 

(July 28, 2006), 71 FR 44758 (August 7, 2006) (SR–

NYSEArca–2006–13) (Order approving rules related 

to the OX Trading System). 

6The Exchange anticipates submitting a 

comprehensive clean-up rule filing in the near 

future. At the request of the Commission staff, the 

instant filing is targeted to eliminate confusion 

regarding certain order types. 

Shares, Currency Trust Shares, and 

Commodity Trust Shares will not be 

counted toward the NYSE’s total annual 

fees cap of $500,000. 

In addition, the annual fee charged for 

ICUs, Currency Trust Shares, 

Commodity Trust Shares and 

streetTRACKS Gold Shares by the 

Exchange is currently a flat amount. 

Under the proposed rule change, this fee 

will be tiered based on the number of 

shares outstanding for each issue at the 

end of the preceding calendar quarter 

and will be billed on a quarterly basis. 

The Commission has reviewed 

carefully the proposed rule change and 

finds that it is consistent with the 

requirements of the Act and the rules 

and regulations thereunder applicable to 

a national securities exchange.4 In 

particular, the Commission finds that 

the proposed rule change is consistent 

with Section 6(b)(4) of the Act,5 which 

requires that the rules of the exchange 

provide for the equitable allocation of 

reasonable dues, fees, and other charges 

among its members and issuers and 

other persons using its facilities. The 

Commission notes that, in part, the 

proposed rule change merely reflects on 

the Exchange’s fee schedule listing fees 

that had previously been approved by 

the Commission.6 In addition, the 

Commission notes that it has approved 

similar tiered annual fee structures.7

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,8 that the 

proposed rule change (File No. SR–

NYSE–2007–01) be, and hereby is, 

approved. 

For the Commission, by the Division of 

Market Regulation, pursuant delegated 

authority.9

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–5983 Filed 3–30–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55522; File No. SR–

NYSEArca–2007–26] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing and 

Immediate Effectiveness of a Proposed 

Rule Change Relating to Certain Types 

of Orders on Ox 

March 26, 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 March 2, 

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

substantially prepared by the Exchange. 

The Exchange filed the proposed rule 

change as a ‘‘non-controversial’’

proposed rule change pursuant to 

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

NYSE Arca proposes to update and 

amend its rules concerning order types 

by incorporating the order type 

definitions of NYSE Arca Rule 6.62A 

into a revised NYSE Arca Rule 6.62. The 

text of the proposed rule change is 

available at the Exchange, the 

Commission’s Public Reference Room, 

and http://www.nysearca.com. 

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, 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. NYSE 

Arca has substantially 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 filing is to 

incorporate the order definitions 

contained in NYSE Arca Rule 6.62A 

into a revised NYSE Arca Rule 6.62. 

Presently, Rule 6.62 defines certain 

order types applicable under the PCX 

Plus System, which is obsolete, while 

Rule 6.62A defines certain order types 

applicable under the current OX 

Trading System. Many of these rules 

overlap and actually apply to both 

systems, while some portions are 

obsolete. Revising the two rules will 

eliminate obsolete references and 

redundancies. 

In September 2006, NYSE Arca 

introduced the OX Trading System 

(‘‘OX’’), a new automated options 

trading platform. OX replaced the 

Exchange’s legacy system, PCX Plus. In 

conjunction with the introduction of 

OX, the Exchange filed, and received 

approval for, a new rule set applicable 

to the new system.5 During the 

introductory phase of OX, the Exchange 

operated two trading systems, which 

necessitated the need for two rule sets: 

one pertaining to PCX Plus; and another 

pertaining to OX. The Exchange has 

now completed its rollout of OX. As 

such, options issues no longer trade on 

the PCX Plus at the Exchange, thereby 

rendering the PCX Plus rule set 

effectively duplicative and obsolete.6

Order types that are contained in Rule 

6.62, designated as PCX Plus rules, may 

also be applicable under the OX system. 

Other order types that are presently 

designated as PCX Plus rules, may also 

be applicable in open outcry trading. 

The Exchange proposes to combine all 

order types from Rule 6.62 and Rule 

6.62A into one rule. Revised Rule 6.62 

will now contain all defined order types 

for options that trade on NYSE Arca and 

Rule 6.62A will be deleted in its 

entirety. In rule text where either ‘‘PCX 

Plus’’ or ‘‘OX’’ has been used, the 

Exchange proposes to replace such 

designation with ‘‘NYSE Arca’’ or 

‘‘Exchange.’’ The Exchange also 

proposes removing the ‘‘PCX Plus’’

designation from the title of Rule 6.62. 

A more detailed description of proposed 


hsrobinson on PROD1PC76 with NOTICES
15752 Federal Register / Vol. 72, No. 62 / Monday, April 2, 2007 / Notices 

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

8 15 U.S.C. 78f(b)(5). 

9 15 U.S.C. 78s(b)(3)(A). 

10 17 CFR 240.19b–4(f)(6). 

11 17 CFR 240.19b–4(f)(6)(iii). 

12For purposes only of waiving the 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). 13 17 CFR 200.30–3(a)(12). 

changes is shown below. In addition to 

these changes, minor technical 

corrections, and new subsection 

designations are shown in the proposed 

rule text, accompanying this filing. 

• Rule 6.62(b) will include text taken 

from Rule 6.62A(b) related to 

‘‘marketable’’ limit orders and will also 

contain new subsection (1) defining 

Inside Limit Orders. This definition is 

presently Rule 6.62A(c). 

• Rule 6.62(c) Contingency Orders. 

This rule will also cover Working Order 

types, presently defined in Rule 

6.62A(e), including definitions for Stop 

Orders and Stop Limit Orders. 

• Rule 6.62(h) Combination Orders. 

New subsection (1)–(2) will be added 

defining Stock/option Orders and Single 

Stock Future (‘‘SSF’’)/Option Order. 

These definitions are presently 

contained in subsection (j)(1)–(2). 

• Rule 6.62(k)–(r) are taken from Rule 

6.62A(d) and (f)–(k). 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

Section 6(b) of the Act,7 in general, and 

furthers the objectives of Section 6(b)(5) 

of the Act,8 in particular, because it is 

designed to prevent fraudulent and 

manipulative acts and practices, to 

promote just and equitable principles of 

trade, to foster cooperation and 

coordination with persons engaged in 

facilitating transactions in securities, 

and to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change would 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 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 after the date of 

filing (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 9 and 

subparagraph (f)(6) of Rule 19b–4 

thereunder.10

A proposed rule change filed under 

19b–4(f)(6) normally may not become 

operative prior to 30 days after the date 

of filing.11 However, Rule 19b–

4(f)(6)(iii) permits the Commission to 

designate a shorter time if such action 

is consistent with the protection of 

investors and the public interest. The 

Exchange has satisfied the five-day prefiling requirement. In addition, the 

Exchange has requested that the 

Commission waive the 30-day preoperative delay and designate the 

proposed rule change to become 

operative upon filing. The Commission 

believes that waiving the 30-day preoperative delay is consistent with the 

protection of investors and the public 

interest because it would allow the 

Exchange to clarify and update its rules 

concerning order types without delay. 

Therefore, the Commission designates 

the proposal to become effective and 

operative upon filing.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 the 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–NYSEArca–2007–26 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–2007–26. 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 NYSE Arca. 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–2007–26 and 

should be submitted on or before April 

23, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.13

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–5987 Filed 3–30–07; 8:45 am] 

BILLING CODE 8010–01–P 

SMALL BUSINESS ADMINISTRATION 

[License No. 09/79–0454] 

Emergence Capital Partners SBIC, 

L.P.; Notice Seeking Exemption Under 

Section 312 of the Small Business 

Investment Act, Conflicts of Interest 

Notice is hereby given that Emergence 

Capital Partners SBIC, L.P., 160 Bovet 

Road, Suite 300, San Mateo, CA 94402, 

a Federal Licensee under the Small 

Business Investment Act of 1958, as 

amended (‘‘the Act’’), in connection 


hsrobinson on PROD1PC76 with NOTICES