19560 Federal Register / Vol. 72, No. 74 / Wednesday, April 18, 2007 / Notices 

14 15 U.S.C. 78q(d)(1). 

15 17 CFR 240.17d–2. 

16 17 CFR 200.30–3(a)(34). 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 55458 

(March 13, 2007), 72 FR 13320 (March 21, 2007) 

(SR–Amex–2007–23). 

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

* * * * * 

III. Date of Effectiveness of the 

Proposed Plan and Timing for 

Commission Action 

Pursuant to Section 17(d)(1) of the 

Act 14 and Rule 17d–2 thereunder,15

after May 9, 2007, the Commission may, 

by written notice, declare the plan 

submitted by CBOE and NASD, File No. 

4–536, to be effective if the Commission 

finds that the plan is necessary or 

appropriate in the public interest and 

for the protection of investors, to foster 

cooperation and coordination among 

self-regulatory organizations, or to 

remove impediments to and foster the 

development of the national market 

system and a national system for the 

clearance and settlement of securities 

transactions and in conformity with the 

factors set forth in Section 17(d) of the 

Act. 

IV. Solicitation of Comments 

In order to assist the Commission in 

determining whether to approve 

proposed 17d–2 Plan and to relieve 

CBOE of the responsibilities which 

would be assigned to NASD, interested 

persons are invited to submit written 

data, views, and arguments concerning 

the foregoing. Comments may be 

submitted by any of the following 

methods: 

Electronic Comments 

• Use the Commission’s Internet 

comment form (http://www.sec.gov/ 

rules/other.shtml); or 

• Send an e-mail to rulecomments@sec.gov. Please include File 

Number 4–536 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 4–536. 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/ 

other.shtml). Copies of the submission, 

all subsequent amendments, all written 

statements with respect to the proposed 

plan that are filed with the Commission, 

and all written communications relating 

to the proposed plan 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 plan also will be 

available for inspection and copying at 

the principal offices of the CBOE and 

NASD. 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 4–536 and should be submitted 

on or before May 9, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.16

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–7321 Filed 4–17–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55619; File No. SR–Amex–

2007–31] 

Self-Regulatory Organizations; 

American Stock Exchange LLC; Notice 

of Filing and Immediate Effectiveness 

of Proposed Rule Change and 

Amendment No. 1 Thereto Relating to 

Transaction Charges for Equities, 

ETFs, and Nasdaq UTP Securities 

April 12, 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 30, 

2007, the American Stock Exchange LLC 

(‘‘Amex’’ 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 Amex. On 

April 10, 2007, the Exchange filed 

Amendment No. 1 to the proposed rule 

change. The Commission is publishing 

this notice, as amended, 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 Exchange proposes to revise the 

equities, Exchange Traded Funds and 

Trust Issued Receipts (‘‘ETFs’’), and 

Nasdaq UTP Fee Schedules to eliminate 

the five percent discount applied to 

each firm’s total charges for customer 

orders in equities, ETFs, and Nasdaq 

UTP securities. The text of the proposed 

rule change is available on Amex’s Web 

site at http://www.amex.com, at Amex, 

and in 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 Exchange recently revised the 

transaction charges for its members and 

member organizations largely relating to 

the Exchange’s new hybrid market 

trading platform (known as AEMI), the 

implementation of Regulation NMS, and 

changes in the competitive landscape 

for equities and ETFs.3 These new 

transaction charges became effective on 

February 22, 2007. As part of the new 

transaction charges, the Exchange 

provided that a five percent discount 

will be applied to each firm’s total 

charges for customer orders in equities, 

ETFs, and Nasdaq UTP securities. The 

five percent discount does not apply to 

charges for specialists and registered 

traders. The Exchange is now proposing 

to eliminate the five percent discount in 

all product lines. The Exchange will 

eliminate the five percent discount 

effective April 1, 2007. 

2. Statutory Basis 

The proposed fee change is consistent 

with Section 6(b)(4) of the Act 4

regarding the equitable allocation of 

reasonable dues, fees, and other charges 

among exchange members and other 

persons using exchange facilities. 


pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 72, No. 74 / Wednesday, April 18, 2007 / Notices 19561 

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

6 17 CFR 240.19b–4(f)(2). 

7For 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, the Commission considers 

the period to commence on April 10, 2007, the date 

on which Amex filed Amendment No. 1. See 15 

U.S.C. 78s(b)(3)(C). 

8 17 CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 

2The Commission has modified the text of the 

summaries prepared by FICC. 

3All times referred to herein are New York times. 

This deadline is extended by one hour on ‘‘high 

volume’’ days as described in the GSD’s rules. 

4 In situations where FICC receives a notification 

but not the new securities collateral information 

before the 1 p.m. deadline, the submitting member 

will be required to resubmit its substitution 

information on the following business day for 

processing. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

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 

No written comments were solicited 

or received with respect to the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the foregoing rule change 

establishes or changes a due, fee, or 

other charge applicable only to a 

member imposed by Amex, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 5 and Rule 19b–

4(f)(2) thereunder.6 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.7

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–Amex–2007–31 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–Amex–2007–31. 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 Amex. 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–Amex–2007–31 and should 

be submitted on or before May 9, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E7–7316 Filed 4–17–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55616; File No. SR–FICC–

2007–03] 

Self-Regulatory Organizations; Fixed 

Income Clearing Corporation; Notice of 

Filing and Order Granting Accelerated 

Approval of a Proposed Rule Change 

To Clarify the Government Securities 

Division Rules With Respect to Repo 

Collateral Substitution Requests 

April 11, 2007. 

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

Securities Exchange Act of 1934 

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

March 23, 2007, the Fixed Income 

Clearing Corporation (‘‘FICC’’) filed 

with the Securities and Exchange 

Commission (‘‘Commission’’) the 

proposed rule change described in Items 

I, II, and III below, which items have 

been prepared primarily by FICC. The 

Commission is publishing this notice 

and order to solicit comments from 

interested parties and to grant 

accelerated approval of the proposal. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The purpose of the proposed rule 

change is to add a final deadline to the 

repo collateral substitution process of 

FICC’s Government Securities Division 

(‘‘GSD’’). 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

FICC 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. FICC has prepared 

summaries, set forth in sections (A), (B), 

and (C) below, of the most significant 

aspects of these statements.2

(A) Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

Currently, the GSD’s rules provide 

that repo collateral substitution requests 

for which the notification itself or the 

information regarding new securities 

collateral is received after 12:30 p.m. 

will be processed by the GSD on a good 

faith basis only.3 FICC is proposing to 

impose a final deadline for this process 

after which FICC will not process a repo 

collateral substitution until the 

following business day. This final 

deadline will be 1 p.m. and will be 

extended by one hour on days that FICC 

or the Securities Industry and Financial 

Markets Association (‘‘SIFMA’’) 

determine are ‘‘high volume’’ days. In 

situations where FICC receives a 

notification or information regarding the 

new securities collateral information 

after the 1 p.m. deadline, the submitting 

member will be required to resubmit its 

substitution information on the 

following business day for processing.4

FICC will continue to process 

substitution requests when notification 


pwalker on PROD1PC71 with NOTICES