28752 Federal Register / Vol. 72, No. 98 / Tuesday, May 22, 2007 / Notices 

46 17 CFR 200.30–3(a)(12). 

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

2 15 U.S.C. 78s(b)(3)(A)(i). 

3 17 CFR 240.19b–4(f)(1). 

4The Commission has modified the text of the 

summaries prepared by NSCC. 

5See e.g., Securities Exchange Act Release Nos. 

54084 (June 30, 2006), 71 FR 38935 (July 10, 2006) 

[SR–NASD–2005–087] (establishment of the NASD/ 

Nasdaq TRF); 54715 (November 6, 2006), 71 FR 

66354 (November 14, 2006) [SR–NASD–2006–108] 

(establishment of the NASD/NSX TRF); and 54931 

(December 13, 2006), 71 FR 76409 (December 20, 

2006) [SR–NASD–2006–115] (establishment of the 

NASD/BSE TRF). 

6Rule 7, Section 5 is proposed to be renumbered 

as part of other changes pending pursuant to File 

No. SR–NSCC–2006–04. 

7NASD filed a proposed rule change relating to 

the establishment of the NASD/NYSE TRF for 

immediate effectiveness, asserting that such 

proposed rule change was ‘‘non-controversial’’

because it was substantially similar to the rules 

relating to the other TRFs, which were subject to 

notice and comment and approved by the 

Commission. Securities Exchange Act Release No. 

55325 (February 21, 2007), 72 FR 8820 (February 

27, 2007) [SR–NASD–2007–011]. 

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–NASD–2006–044 and 

should be submitted on or before June 

12, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.46

Jill M. Peterson, 

Assistant Secretary. 

[FR Doc. E7–9742 Filed 5–21–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55770; File No. SR–NSCC–

2007–05] 

Self-Regulatory Organizations; 

National Securities Clearing 

Corporation; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change Relating to Its Ability To 

Receive Transaction Data From Trade 

Reporting Facilities That Are Facilities 

of a Self-Regulatory Organization 

May 15, 2007. 

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

Securities Exchange Act of 1934 

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

March 26, 2007, the National Securities 

Clearing Corporation (‘‘NSCC’’) 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 NSCC. 

NSCC filed the proposed rule change 

pursuant to Section 19(b)(3)(A)(i) of the 

Act 2 and Rule 19b–4(f)(1) thereunder 3

so that the proposal was effective upon 

filing with the Commission. The 

Commission is publishing this notice to 

solicit comments on the proposed rule 

change from interested parties. 

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 clarify NSCC’s Rule 7, 

‘‘Comparison and Trade Recording 

Operation,’’ in order to make clear that 

NSCC may accept transaction data on 

behalf of NSCC members from trade 

reporting facilities that are affiliated 

with and operated as a facility of a selfregulatory organization (‘‘Trade 

Reporting Facilities’’ or ‘‘TRFs’’). 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, 

NSCC 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. NSCC has prepared 

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

and (C) below, of the most significant 

aspects of these statements.4

(A) Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

The purpose of this filing is to clarify 

NSCC’s Rule 7, ‘‘Comparison and Trade 

Recording Operation,’’ in order to make 

clear that NSCC may accept transaction 

data on behalf of NSCC Members from 

Trade Reporting Facilities. 

Background 

NSCC’s Rule 7 permits NSCC in its 

discretion to accept transaction data 

from self-regulatory organizations 

(‘‘SROs’’), as defined in the Securities 

Exchange Act of 1934 (and, similarly, 

from derivatives clearing organizations 

registered or deemed registered with the 

Commodities Futures Trading 

Commission). Such data may be 

provided directly by an SRO or through 

subsidiary or affiliated organizations. 

In conjunction with the recent 

separation of the National Association 

of Securities Dealers, Inc. (‘‘NASD’’) and 

The Nasdaq Stock Market, Inc. 

(‘‘Nasdaq’’), the Commission approved 

the establishment by NASD and Nasdaq 

of the NASD/Nasdaq Trade Reporting 

Facility, which provides NASD 

members with an alternative means for 

reporting transactions in exchangelisted securities effected otherwise than 

on an exchange. Since then, NASD has 

established several additional new TRFs 

in conjunction with other registered 

securities exchanges, each of which 

provides NASD members with alternate 

means for reporting transactions in 

exchange-listed securities effected 

otherwise than on an exchange. All of 

these TRFs will operate as joint ventures 

with the relevant exchanges, but NASD, 

the ‘‘SRO Member’’ of each such 

venture, will have sole regulatory 

responsibility for each TRF. As such, 

the TRFs are facilities ‘‘of NASD and 

subject to NASD’s registration as a 

national securities association.’’5

At the current time, NASD filed 

proposed rule changes with the 

Commission relating to the 

establishment of the following TRFs: 

The NASD/Nasdaq TRF; the NASD/ 

National Securities Exchange (NSX) 

TRF; the NASD/Boston Stock Exchange 

(BSE) TRF; and the NASD/New York 

Stock Exchange (NYSE) TRF. Currently, 

all the TRFs are operational. The rules 

governing the operations of these 

facilities are contained in NASD Rule 

4000 and 6100 Series for the NASD/ 

Nasdaq TRF, NASD Rule 4000C and 

6000C Series for the NASD/NSX TRF, 

NASD Rule 4000D and 6000D Series for 

the NASD/BSE TRF, and NASD Rule 

4000E and 6000E Series for the NASD/ 

NYSE TRF. With the exception of the 

NASD/NYSE TRF, the applicable rules 

permit the TRFs, at the option of their 

NASD member participant, to submit 

the data relating to reported trades to 

NSCC for clearance and settlement. 

In order to accommodate the NASD 

and to promote the efficient processing 

of securities transactions, NSCC 

proposes to clarify its Rule 7, Section 5 6

to make clear that it may accept 

transaction data from such TRFs as 

facilities of the NASD, the applicable 

SRO. For this purpose, the proposed 

clarification provides that the TRF be 

affiliated with and operated as a facility 

of the SRO and that the rules and 

operation of the TRF be the subject of 

a rule change of the SRO that has been 

duly filed with the Commission and is 

effective.7 By allowing NSCC to receive 

transaction data for clearing purposes 

from these facilities with respect to 

NSCC’s members, broker-dealers will be 

able to report transactions for both 

reporting/regulatory and clearing 

purposes in a single report to the TRFs. 


jlentini on PROD1PC65 with NOTICES
Federal Register / Vol. 72, No. 98 / Tuesday, May 22, 2007 / Notices 28753 

8 15 U.S.C. 78q–1. 

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

10 17 CFR 240.19b–4(f)(1). 11 17 CFR 200.30–3(a)(12). 

The proposed rule change is 

consistent with the requirements of 

Section 17A of the Act 8 and the rules 

and regulations thereunder applicable to 

NSCC because the proposed change is a 

clarification that does not adversely 

affect the safeguarding of securities and 

funds in the custody or control of the 

clearing agency or for which it is 

responsible and does not adversely 

affect the respective rights or obligations 

of the clearing agency or its members. 

(B) Self-Regulatory Organization’s 

Statement on Burden on Competition 

NSCC does not believe that the 

proposed rule change will have any 

impact or impose any burden on 

competition. 

(C) Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

Written comments relating to the 

proposed rule change have not yet been 

solicited or received. NSCC will notify 

the Commission of any written 

comments received by NSCC. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

The foregoing rule change has become 

effective upon filing pursuant to Section 

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

4(f)(1) 10 thereunder because it 

constitutes a stated policy, practice, or 

interpretation with respect to the 

meaning, administration, or 

enforcement of an existing rule of 

NSCC. 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–NSCC–2007–05 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–NSCC–2007–05. 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 

Section, 100 F Street, NE., Washington, 

DC 20549. The text of the proposed rule 

change is available at NSCC, the 

Commission’s Public Reference Room, 

and http://www.nscc.com/legal/2007/ 

2007-05.pdf. 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–NSCC–

2007–05 and should be submitted on or 

before June 11, 2007. 

For the Commission by the Division of 

Market Regulation, pursuant to delegated 

authority.11

Nancy M. Morris, 

Secretary. 

[FR Doc. E7–9762 Filed 5–21–07; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF STATE 

[Public Notice 5802] 

Certifications Pursuant to Section 609 

of Public Law 101–162 

SUMMARY: On May 1, 2007, the 

Department of State certified, pursuant 

to Section 609 of Public Law 101–162 

(‘‘Section 609’’), that 16 nations have 

adopted programs to reduce the 

incidental capture of sea turtles in their 

shrimp fisheries comparable to the 

program in effect in the United States. 

The Department also certified that the 

fishing environments in 24 other 

countries and one economy, Hong Kong, 

do not pose a threat of the incidental 

taking of sea turtles protected under 

Section 609. Shrimp imports from any 

nation not certified were prohibited 

effective May 1, 2007 pursuant to 

Section 609. 

DATES: Effective Date: May 22, 2007. 

FOR FURTHER INFORMATION CONTACT: 

Clayton Stanger, Office of Marine 

Conservation, Bureau of Oceans and 

International Environmental and 

Scientific Affairs, Department of State, 

Washington, DC 20520–7818; telephone: 

(202) 647–2335. 

SUPPLEMENTARY INFORMATION: Section 

609 of Public Law 101–162 prohibits 

imports of certain categories of shrimp 

unless the President certifies to the 

Congress not later than May 1 of each 

year either: (1) That the harvesting 

nation has adopted a program governing 

the incidental capture of sea turtles in 

its commercial shrimp fishery 

comparable to the program in effect in 

the United States and has an incidental 

take rate comparable to that of the 

United States; or (2) that the fishing 

environment in the harvesting nation 

does not pose a threat of the incidental 

taking of sea turtles. The President has 

delegated the authority to make this 

certification to the Department of State. 

Revised State Department guidelines for 

making the required certifications were 

published in the Federal Register on 

July 2, 1999 (Vol. 64, No. 130, Public 

Notice 3086). 

On May 1, 2007, the Department 

certified 16 nations on the basis that 

their sea turtle protection programs are 

comparable to that of the United States: 

Belize, Colombia, Costa Rica, Ecuador, 

El Salvador, Guatemala, Guyana, 

Honduras, Madagascar, Mexico, 

Nicaragua, Nigeria, Pakistan, Panama, 

Suriname, and Venezuela. 

The Department also certified 24 

shrimp harvesting nations and one 

economy as having fishing 

environments that do not pose a danger 

to sea turtles. Sixteen nations have 

shrimping grounds only in cold waters 

where the risk of taking sea turtles is 

negligible. They are: Argentina, 

Belgium, Canada, Chile, Denmark, 

Finland, Germany, Iceland, Ireland, the 

Netherlands, New Zealand, Norway, 

Russia, Sweden, the United Kingdom, 

and Uruguay. Eight nations and one 

economy only harvest shrimp using 

small boats with crews of less than five 


jlentini on PROD1PC65 with NOTICES