19570 Federal Register / Vol. 72, No. 74 / Wednesday, April 18, 2007 / Notices 

5 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). 

417 CFR 240.19b–4(f)(6). 

5 17 CFR 242.600 et seq. 

6See Securities Exchange Act Release No. 55210 

(January 31, 2007), 72 FR 5777 (February 7, 2007) 

(SR–NYSE–2007–08). 

7See telephone conversation between Craig 

Hammond, Managing Director, Office of General 

Counsel, NYSE, and Christopher W. Chow, Special 

Counsel, Division of Market Regulation 

Commission, on April 11, 2007. 

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

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–NASDAQ–2007–039 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–NASDAQ–2007–039. 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 Nasdaq. 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 publicly available. All 

submissions should refer to File 

Number SR–NASDAQ–2007–039 and 

should be submitted on or before May 

9, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.5

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–7330 Filed 4–17–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55618; File No. SR–NYSE–

2007–32] 

Self-Regulatory Organizations; New 

York Stock Exchange, LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change, and 

Amendment No. 1 Thereto, Relating to 

Rule 15B(T) (Protected Bids and Offers 

of Away Markets) 

April 11, 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 22, 

2007, the New York Stock Exchange, 

LLC (‘‘NYSE’’ 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 

NYSE. 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. On 

April 9, 2007, the Exchange filed 

Amendment No. 1 to the proposed rule 

change. The Commission is publishing 

this notice to solicit comments on the 

proposed rule change, as amended, from 

interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to rescind 

NYSE Rule 15B(T), a temporary rule 

which describes the obligations of 

Exchange member organizations when 

sending Intermarket Sweep Orders 

(‘‘ISOs’’) to the Exchange prior to March 

5, 2007, the Trading Phase Date of 

Regulation NMS under the Act 5 (‘‘Reg 

NMS’’). The text of the proposed rule 

change is available at the Exchange, on 

the Exchange’s Web site at http:// 

www.nyse.com, 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 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 

On January 26, 2007, the Exchange 

adopted NYSE Rule 15B(T),6 which 

requires member organizations that send 

ISOs to the Exchange prior to March 5, 

2007, the Trading Phase Date of Reg. 

NMS, to simultaneously send an ISO (or 

comparable order) for the full displayed 

size of the top of the book of every other 

ITS participant displaying a betterpriced protected quotation.7

Given that ISO requirements are 

contained in NYSE Rule 13 now that the 

Trading Phase Date has passed, the 

Exchange, through this filing, seeks to 

delete NYSE Rule 15B(T) from Exchange 

Rules in order to eliminate potential 

confusion regarding the procedures for 

member organizations when sending 

ISOs to the Exchange. 

2. Statutory Basis 

The Exchange believes that the 

proposed rule change is consistent with 

the requirement under Section 6(b)(5) of 

the Act 8 that an Exchange have rules 

that are designed to promote just and 

equitable principles of trade, to remove 

impediments to and perfect the 

mechanism of a free and open market 

and national market system, and, in 

general, 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. 


pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 72, No. 74 / Wednesday, April 18, 2007 / Notices 19571 

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). Rule 19b–4(f)(6) 

also requires that the self-regulatory organization to 

give the Commission 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, or such shorter time as 

designated by the Commission. The Commission 

grants the Exchange’s request for a waiver of the 

five-day pre-filing requirement. 

12For the purposes only of waiving the 30-day 

operative delay, the Commission has considered the 

proposed rule’s impact on efficiency, competition, 

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

13For purposes of calculating the 60-day period 

within which the Commission may summarily 

abrogate the proposed rule change under Section 

19(b)(3)(C) of the Act, 15 U.S.C. 78s(b)(3)(C), the 

Commission considers the period to commence on 

April 9, 2007, the date NYSE filed Amendment No. 

1 to the proposed rule change. 14 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Amendment No. 2 replaced and superseded the 

original filing and Amendment No. 1 in their 

entirety. 

4Amendment No. 4 superseded Amendment No. 

3 in its entirety. In Amendment No. 4, the Exchange 

made clarifying changes to Exhibit 5 and the 

purpose section, including reflecting a recent 

approval of an exchange rule that changed the 

current rule text. 

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 forgoing rule change does 

not: (1) Significantly affect the 

protection of investors or the public 

interest; (2) impose any significant 

burden on competition; and (3) become 

operative for 30 days after the date of 

this filing, or such shorter time as the 

Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 9 and Rule 19b–

4(f)(6) thereunder.10

NYSE has asked that the Commission 

waive the 30-day operative delay 

contained in Rule 19b–4(f)(6)(iii) under 

the Act.11 The Commission believes that 

waiver of the 30-day operative delay is 

consistent with the protection of 

investors and the public interest 

because the immediate removal of the 

temporary rule should eliminate 

potential confusion relating to the usage 

of ISOs on the Exchange. For this 

reason, the Commission designates the 

proposed rule change to be effective and 

operative upon filing with the 

Commission.12

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.13

IV. Solicitation of Comments 

nterested 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–NYSE–2007–32 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–NYSE–2007–32. 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 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–NYSE–2007–32 and should 

be submitted on or before May 9, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.14

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–7323 Filed 4–17–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55621; File No. SR–

NYSEArca–2006–86] 

Self-Regulatory Organizations; NYSE 

Arca, Inc.; Notice of Filing of Proposed 

Rule Change and Amendments No. 1, 

2, 3, and 4 Thereto and Order Granting 

Accelerated Approval of the Proposed 

Rule Change as Modified by 

Amendments No. 2 and 4 Thereto 

Adopting Generic Listing Standards 

for Exchange-Traded Funds Based on 

International or Global Indexes or 

Indexes Described in Exchange Rules 

Previously Approved by the 

Commission as Underlying 

Benchmarks for Derivative Securities 

April 12, 2007. 

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

Securities Exchange Act of 1934 

(‘‘Exchange Act’’) 1 and Rule 19b–4 

thereunder,2 notice is hereby given that 

on November 13, 2006, 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. On March 19, 2007, the 

Exchange filed Amendment No. 1 to the 

proposal. On March 20, 2007, the 

Exchange filed Amendment No. 2 to the 

proposal.3 On April 4, 2007, the 

Exchange filed Amendment No. 3 to the 

filing. On April 10, 2007, the Exchange 

filed Amendment No. 4 to the filing.4

This order provides notice of the 

proposal, as amended, and approves the 

proposal on an accelerated basis. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

NYSE Arca, through its wholly owned 

subsidiary NYSE Arca Equities, Inc. 

(‘‘NYSE Arca Equities’’), proposes to 

amend its rules governing NYSE Arca, 

L.L.C. (also referred to as the ‘‘NYSE 

Arca Marketplace’’), the equities trading 

facility of NYSE Arca Equities. The 

Exchange proposes to amend NYSE 

Arca Equities Rules 5.2(j)(3), 5.5(g)(2), 

and 8.100 to include generic listing 

standards for Investment Company 


pwalker on PROD1PC71 with NOTICES