Federal Register / Vol. 72, No. 65 / Thursday, April 5, 2007 / Notices 16837 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 55408 

(March 6, 2007), 72 FR 11068. 

4See Securities Exchange Act Release No. 55070 

(January 9, 2007), 72 FR 2049 (January 17, 2007) 

(SR-CHX–2006–37). 

5 In approving the proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition and capital 

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

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

7 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

declaring that it has ceased to be an 

investment company. On November 16, 

2004, each applicant made its final 

liquidating distribution, based on net 

asset value. Applicants incurred no 

expenses in connection with the 

liquidations. 

Filing Dates: The applications were 

filed on February 27, 2007, and 

amended on March 19, 2007. 

Applicants’ Address: 388 Greenwich 

St., New York, NY 10013. 

Liberty-Stein Roe Advisor Trust [File 

No. 811–7955] 

Summary: Applicant seeks an order 

declaring that it has ceased to be an 

investment company. On July 27, 2002, 

applicant transferred its assets to Stein 

Roe Young Investor Fund, a series of 

Liberty-Stein-Roe Funds Investment 

Trust, based on net asset value. 

Expenses of $274,163 incurred in 

connection with the reorganization were 

paid by SteinRoe & Farnham 

Incorporated, applicant’s investment 

adviser. 

Filing Date: The application was filed 

on February 20, 2007. 

Applicant’s Address: One Financial 

Center, Boston, MA 02111. 

For the Commission, by the Division of 

Investment Management, pursuant to 

delegated authority. 

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–6373 Filed 4–4–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55549; File No. SR–CHX–

2007–02] 

Self-Regulatory Organizations; 

Chicago Stock Exchange, Inc.; Order 

Granting Accelerated Approval of a 

Proposed Rule Change To Amend the 

CHX Fee Schedule on a Retroactive 

Basis To Clarify the Application of a 

Credit Against Specialist Fixed Fees 

March 28, 2007. 

I. Introduction 

On February 12, 2007, the Chicago 

Stock Exchange, Inc. (‘‘CHX’’ or 

‘‘Exchange’’) 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 

amend its Schedule of Participant Fees 

and Credits (‘‘Schedule’’) on a 

retroactive basis to clarify application of 

a monthly specialist fixed fee credit. 

The proposed rule change was 

published for comment in the Federal 

Register on March 12, 2007 for a 15-day 

comment period.3 The comment period 

ended on March 27, 2007. The 

Commission received no comments on 

the proposal. This order grants 

accelerated approval of the proposed 

rule change. 

II. Description of the Proposal 

The Exchange proposes to amend its 

Schedule on a retroactive basis to clarify 

application of a monthly specialist fixed 

fee credit. Beginning November 2006, 

the Exchange instituted a monthly 

specialist fixed fee credit of $25,000, to 

be applied while the Exchange 

completed implementation of its new 

trading model and issues were 

transitioned from being traded by CHX 

specialists to a market maker model.4

This proposal clarifies that the 

Exchange intended that the credit 

would be applied on a cumulative basis 

for November and December of 2006, so 

that the November credit would be 

$25,000 and the December credit would 

be $50,000. In addition, the Exchange 

intended that the credit for January 

would be reduced to $25,000. Because 

SR-CHX–2006–37 did not clearly 

indicate that the credit would be 

applied on a cumulative basis for the 

months of November and December and 

subsequently reduced for the month of 

January, the CHX submitted the instant 

proposed rule change to clarify the total 

amount of the specialist fixed fee credit 

available for each month: $25,000 for 

November 2006; $50,000 for December 

2006; and $25,000 for January 2007. 

III. Discussion and Commission 

Findings 

The Commission 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 Specifically, the 

Commission believes that the proposed 

rule change is consistent with Section 

6(b)(4) of the Act,6 which requires that 

the rules of an exchange provide for the 

equitable allocation of reasonable dues, 

fees, and other charges among members 

and issuers and other persons using any 

facilities or system which it operates or 

controls. 

This proposed rule change would 

clarify the application of a specialist 

fixed fee credit that the CHX is offering 

as an incentive for CHX specialists 

while the CHX completed its transition 

to a new market maker trading model. 

The proposed rule change would 

reconcile the discrepancy between the 

manner in which the CHX intended to 

apply the credit and the description of 

the credit in SR–CHX–2006–37. The 

proposal would also clarify that the 

credit was reduced to $25,000 for the 

month of January 2007. 

The Commission finds good cause for 

approving the proposed rule change 

prior to the 30th day of the date of 

publication of the notice thereof in the 

Federal Register. The proposed rule 

change clarifies ambiguity about the 

application of the specialist fixed fee 

credit. The Commission believes 

accelerated approval will provide clarity 

without delay. Therefore, the 

Commission finds that there is good 

cause, consistent with Section 19(b)(2) 

of the Act, to approve the proposed rule 

change on an accelerated basis. 

IV. Conclusion 

It is therefore ordered, pursuant to 

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

proposed rule change (SR–CHX–2007–

02) be, and hereby is, approved on an 

accelerated basis. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.7

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–6374 Filed 4–4–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55560; File No. SR–ISE–

2007–23] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Notice of Filing and Immediate 

Effectiveness of Proposed Rule 

Change Relating to an ISE Stock 

Exchange Fee Waiver 

March 29, 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 27, 

2007, the International Securities 


jlentini on PROD1PC65 with NOTICES
16838 Federal Register / Vol. 72, No. 65 / Thursday, April 5, 2007 / Notices 

3See Securities Exchange Act Release No. 54561 

(October 2, 2006), 71 FR 59844 (October 11, 2006). 

4See Securities Exchange Act Release No. 55427 

(March 8, 2007), 72 FR 12644 (March 16, 2007). 

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

6 15 U.S.C. 78s(b)(3)(A)(ii). 

7 17 CFR 240.19b–4(f)(2). 8 17 CFR 200.30–3(a)(12). 

Exchange, LLC (‘‘ISE’’ 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 

Exchange. 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 ISE is proposing to amend its 

Schedule of Fees to extend a fee waiver 

related to the ISE Stock Exchange (‘‘ISE 

Stock’’). The text of the proposed rule 

change is available at http:// 

www.iseoptions.com and 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 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 

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 

The purpose of this proposed rule 

change is to extend a fee waiver related 

to the trading of equity securities on ISE 

Stock, a facility of the Exchange. The 

Exchange currently waives all execution 

fees in an effort to promote trading on 

ISE Stock.3 The fee waiver is scheduled 

to expire on April 1, 2007.4 In an effort 

to continue the promotion of ISE Stock, 

the Exchange proposes to extend the 

waiver of all execution fees until May 1, 

2007. 

2. Statutory Basis 

The basis under the Act for this 

proposed rule change is the requirement 

under Section 6(b)(4) 5 that 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. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes that the 

proposed rule change does not 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 not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any 

unsolicited written comments from 

members or other interested parties. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing proposed rule change 

has become effective pursuant to 

Section 19(b)(3)(A)(ii) of the Act 6 and 

Rule 19b–4(f)(2) thereunder,7 because it 

establishes or changes a due, fee, or 

other charge imposed by the Exchange. 

Accordingly, the proposal will take 

effect upon filing with the Commission. 

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–ISE–2007–23 on the subject 

line. 

Paper Comments 

• Send paper comments in triplicate 

to Nancy M. Morris, Secretary, 

Securities and Exchange Commission, 

Station Place, 100 F Street, NE., 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–ISE–2007–23. 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 the ISE. 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–ISE–2007–23 and should be 

submitted on or before April 26, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–6371 Filed 4–4–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55557; File No. SR–ISE–

2006–78] 

Self-Regulatory Organizations; 

International Securities Exchange, 

LLC; Order Granting Approval of 

Proposed Rule Change Relating to the 

Facilitation Mechanism 

March 29, 2007. 

On December 13, 2006, the 

International Securities Exchange, LLC 

(‘‘ISE’’ or ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’) a proposed rule change 

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

Securities Exchange Act of 1934 


jlentini on PROD1PC65 with NOTICES