20004 Federal Register / Vol. 72, No. 76 / Friday, April 20, 2007 / Notices 

6See Securities Exchange Act Release No. 55405 

(March 6, 2007), 72 FR 11069 (March 12, 2007). 

7 17 CFR 242.610 and 242.611. 

8 15 U.S.C. 78f. 

9 15 U.S.C. 78f(6)(4). 

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

11 17 C FR 240.19b–4(f)(2). 

12 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)(2). 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

Nasdaq 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. Nasdaq 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 

Nasdaq is establishing a fee of $0.0035 

per share executed for orders that are 

designated as Directed Intermarket 

Sweep Orders (unless the order is for a 

security priced under $1, in which case 

the fee is 0.3% of the transaction value). 

As described in SR–NASDAQ–2007–

020,6 a Directed Order allows a market 

participant to enter an order into 

Nasdaq that is designated for routing to 

another exchange without first checking 

the Nasdaq book. By designating a 

Directed Order as an Intermarket Sweep 

Order, the market participant entering 

the order represents that it is complying 

with the requirements of Regulation 

NMS Rules 610 and 611.7 Because these 

orders bypass the Nasdaq book, and 

because Nasdaq will incur costs for 

post-trade surveillance of members’

compliance with these rules, Nasdaq 

believes that an increased routing fee of 

$0.0035 is warranted. 

2. Statutory Basis 

Nasdaq believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,8 in 

general, and with Section 6(b)(4) of the 

Act,9 in particular, in that it provides 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. Nasdaq 

believes that an increased fee for 

Directed Intermarket Sweep Orders is 

appropriate in light of their special 

characteristics. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Nasdaq does not believe that the 

proposed rule change will result in 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 

Written comments were neither 

solicited nor received. 

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)(ii) of the Act 10 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder because it establishes or 

changes a due, fee, or other charge.11 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–NASDAQ–2007–036 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–NASDAQ–2007–036. 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 offices 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–NASDAQ–2007–036 and 

should be submitted on or before May 

11, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to 

delegated authority.12

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–7485 Filed 4–19–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55633; File No. SR–

NASDAQ–2007–041] 

Self-Regulatory Organizations; The 

NASDAQ Stock Market LLC; Notice of 

Filing and Immediate Effectiveness of 

Proposed Rule Change Relating to 

Fees of Other Market Centers Related 

to Clearly Erroneous Rulings 

April 16, 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 April 10, 

2007, The NASDAQ Stock Market LLC 

(‘‘Nasdaq’’) 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 by Nasdaq. Nasdaq 

submitted the proposed rule change 

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

and Rule 19b–4(f)(2) thereunder,4 which 


sroberts on PROD1PC70 with NOTICES
Federal Register / Vol. 72, No. 76 / Friday, April 20, 2007 / Notices 20005 

5Changes are marked to the rule text that appears 

in the electronic manual of Nasdaq found at http:// 

nasdaq.complinet.com. 

6Securities Exchange Act Release No. 54655 

(October 26, 2006), 71 FR 64596 (November 2, 2006) 

(SR–NYSEArca–2006–48). 

7 15 U.S.C. 78f. 

8 15 U.S.C. 78f(b)(4). 

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

10 17 CFR 240.19b–4(f)(2). 

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 

Nasdaq proposes to pass through fees 

related to clearly erroneous rulings that 

are charged to Nasdaq by other markets. 

Nasdaq will implement the proposed 

rule change immediately. 

The text of the proposed rule change 

is below. Proposed new language is in 

italics.5

* * * * * 

11890. Clearly Erroneous Transactions 

(a)–(b) No change. 

(c) Review by the Market Operations 

Review Committee (‘‘MORC’’) 

(1)–(3) No change. 

(4) The party initiating the appeal 

shall be assessed a $500.00 fee if the 

MORC upholds the decision of the 

Nasdaq officer. In addition, in instances 

where Nasdaq, on behalf of a member, 

requests a determination by another 

market center that a transaction is 

clearly erroneous, Nasdaq will pass any 

resulting charges through to the relevant 

member. 

(d) No change. 

* * * * * 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

Nasdaq 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. Nasdaq 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 

Nasdaq recently amended Rule 11890, 

which covers the breaking of trades 

determined to be clearly erroneous, to 

add a new Rule 11890(c)(4) that assesses 

a fee of $500 for unsuccessful appeals of 

clearly erroneous adjudications by 

Nasdaq. Nasdaq is now adding a 

sentence to the rule to provide that in 

instances where Nasdaq, on behalf of a 

member, requests a determination by 

another market center that a transaction 

is clearly erroneous, Nasdaq will pass 

any resulting charges through to the 

relevant member. The proposed change 

reflects the fact that NYSE Arca recently 

adopted a similar $500 appellate fee, 

and other market centers may follow 

suit.6

If a Nasdaq member enters an order 

into Nasdaq that is routed to NYSE Arca 

and executed there, the Nasdaq member 

may not have standing to file under 

NYSE Arca rules to seek a 

determination that the execution was 

clearly erroneous if it is not an NYSE 

Arca member. Accordingly, Nasdaq 

Execution Services, Nasdaq’s routing 

broker-dealer, which is a member of 

NYSE Arca, will file a petition under 

NYSE Arca rules if the Nasdaq member 

requests. If an appeal is unsuccessful, 

Nasdaq will be charged under NYSE 

Arca rules. Accordingly, Nasdaq 

proposes to pass the charge through, on 

a dollar-for-dollar basis, to the member 

that requested the appeal. 

2. Statutory Basis 

Nasdaq believes that the proposed 

rule change is consistent with the 

provisions of Section 6 of the Act,7 in 

general, and with Section 6(b)(4) of the 

Act,8 in particular, in that the provides 

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. Nasdaq 

believes that the change will allocate 

charges for adjudications under the 

clearly erroneous rules of other market 

centers to the Nasdaq members that 

initiate such adjudications. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

Nasdaq does not believe that the 

proposed rule change will result in 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 

Written comments were neither 

solicited nor received. 

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)(ii) of the Act 9 and 

subparagraph (f)(2) of Rule 19b–4 

thereunder.10 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–NASDAQ–2007–041 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–NASDAQ–2007–041. 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 


sroberts on PROD1PC70 with NOTICES
20006 Federal Register / Vol. 72, No. 76 / Friday, April 20, 2007 / Notices 

11 17 CFR 200.30–3(a)(12). 

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 available publicly. All 

submissions should refer to File 

Number SR–NASDAQ–2007–041 and 

should be submitted on or before May 

11, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.11

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–7487 Filed 4–19–07; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

[Summary Notice No. PE–2007–14] 

Petitions for Exemption; Summary of 

Petitions Received 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Notice of petitions for 

exemption received. 

SUMMARY: This notice contains a 

summary of a certain petition seeking 

relief from specified requirements of 14 

CFR. The purpose of this notice is to 

improve the public’s awareness of, and 

participation in, this aspect of FAA’s 

regulatory activities. Neither publication 

of this notice nor the inclusion of 

omission of information in the summary 

is intended to affect the legal status of 

any petition or its final disposition. 

DATES: Comments on petitions received 

must identify the petition docket 

number involved and must be received 

on or before May 10, 2007. 

ADDRESSES: Send comments to the 

petition to the Docket Management 

System, U.S. Department of 

Transportation, Room Plaza 401, 400 

Seventh Street, SW., Washington, DC 

20590–0001. You must identify the 

docket number FAA–2007–27705 at the 

beginning of your comments. If you 

wish to receive confirmation that the 

FAA received your comments, include a 

self-addressed, stamped postcard. 

You may also submit comments 

through the Internet to http:// 

dms.dot.gov. You may review the public 

docket containing the petition, any 

comments received, and any final 

disposition in person in the Dockets 

Office between 9 a.m. and 5 p.m. 

Monday through Friday, except Federal 

holidays. The Dockets Office (telephone 

1–800–647–5527) is on the plaza level 

of the NASSIF Building at the 

Department of Transportation at the 

above address. Also, you may review 

public dockets on the Internet at 

http://dms.dot.gov. 

FOR FURTHER INFORMATION CONTACT: 

Frances Shaver (202–267–9681), Office 

of Rulemaking (ARM–1), Federal 

Aviation Administration, 800 

Independence Avenue, SW., 

Washington, DC 20591–3356 or Tyneka 

Thomas (202–267–7626), Office of 

Rulemaking (ARM–1), Federal Aviation 

Administration, 800 Independence 

Avenue, SW., Washington, DC 20591–

3356. 

This notice is published pursuant to 

14 CFR 11.85 and 11.91. 

Issued in Washington, DC., on April 5, 

2007. 

Pamela Hamilton-Powell, 

Director, Office of Rulemaking. 

Petitions for Exemption 

Docket No.: FAA–2007–27705. 

Petitioner: CareFlite. 

Section of 14 CFR Affected: 14 CFR 

43(h)(i). 

Description of Relief Sought: The 

exemption, if granted, would allow 

trained CareFlite medical crew members 

to remove the Propaq mount without 

requiring the pilot to shut down the 

aircraft and perform the function. 

[FR Doc. 07–1940 Filed 4–19–07; 8:45 am] 

BILLING CODE 4910–13–M 

DEPARTMENT OF TRANSPORTATION 

Federal Highway Administration 

[Docket No. FHWA–2007–27951] 

Agency Information Collection 

Activities: Request for Comments for 

New Information Collection 

AGENCY: Federal Highway 

Administration (FHWA), DOT. 

ACTION: Notice and request for 

comments. 

SUMMARY: The FHWA has forwarded the 

information collection request described 

in this notice to the Office of 

Management and Budget (OMB) for 

approval of a new information 

collection. We published a Federal 

Register Notice with a 60-day public 

comment period on this information 

collection on February 12, 2005. We are 

required to publish this notice in the 

Federal Register by the Paperwork 

Reduction Act of 1995. 

DATES: Please submit comments by May 

21, 2007. 

ADDRESSES: You may send comments 

within 30 days to the Office of 

Information and Regulatory Affairs, 

Office of Management and Budget, 725 

17th Street, NW., Washington, DC 

20503, Attention: DOT Desk Officer. 

You are asked to comment on any 

aspect of this information collection, 

including: (1) Whether the proposed 

collection is necessary for the FHWA’s 

performance; (2) the accuracy of the 

estimated burden; (3) ways for the 

FHWA to enhance the quality, 

usefulness, and clarity of the collected 

information; and (4) ways that the 

burden could be minimized, including 

the use of electronic technology, 

without reducing the quality of the 

collected information. All comments 

should include the Docket number 

FHWA–2007–27951. 

FOR FURTHER INFORMATION CONTACT: 

Mike Neathery, 202–366–1257 or Martin 

Weiss, 202–366–5010, Office of 

Interstate and Border Planning, Federal 

Highway Administration, Department of 

Transportation, 400 Seventh Street, 

SW., Washington, DC 20590. Office 

hours are from 8 a.m. to 5 p.m., Monday 

through Friday, except Federal holidays. 

SUPPLEMENTARY INFORMATION: 

Title: Rural Transportation Research. 

Background: Section 5513(f) of The 

Safe, Accountable, Flexible, Efficient 

Transportation Equity Act: A Legacy for 

Users of 2005 (SAFETEA–LU) provides 

a grant to the New England 

Transportation Institute (hence ‘‘the 

Institute’’) in White River Junction, 

Vermont, to conduct rural 

transportation research. The Institute 

will undertake research and analysis in 

support of two research issues: (1) Rural 

Transportation Issues Definition and 

Refinement; and (2) Rural 

Transportation Safety and Health. The 

research includes a 2-part survey to 

develop information that will help 

support a ‘‘portrait’’ of present rural 

transportation patterns. Applying the 

concepts of both ‘‘mobility’’ and 

‘‘accessibility’’ to the rural Northeast, 

the Institute’s surveys will explore the 

issues of ‘‘rural isolation’’ and, driver 

travel behavior. The survey will address 

these questions: 

• How serious a problem is rural 

isolation and perceptions of access (or 

lack thereof)? 

• How are the economic forces acting 

on the rural areas affecting the manner, 

and length of trips in the rural 

Northeast? 

• How are demographics going to 

change and/or influence the demands 

made on the transportation system? 


sroberts on PROD1PC70 with NOTICES