Federal Register / Vol. 72, No. 99 / Wednesday, May 23, 2007 / Notices 29019 

23 15 U.S.C. 78s(b)(2). 

24See supra note 20. 

25See id. 

26 15 U.S.C. 78s(b)(2). 

27 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

3Amendment No. 1 supersedes and replaces the 

original proposal in its entirety. 

4See Proposed Section 4, subparagraph (i), 

Chapter VI of the BOX Rules. 

respect to such material non-public 

information. 

(3) The Exchange will halt trading in 

the Notes if the circuit breaker 

parameters of Amex Rule 117 have been 

reached and, in exercising its discretion 

to halt or suspend trading in the Notes, 

the Exchange may consider factors such 

as those set forth in Amex Rule 918C(b), 

in addition to other factors that may be 

relevant. In particular, if the Index value 

is not being disseminated as required, 

the Exchange may halt trading during 

the day in which the interruption to the 

dissemination of the Index value occurs. 

If the interruption to the dissemination 

of the Index value persists past the 

trading day on which it occurred, the 

Exchange will halt trading no later than 

the beginning of the trading day 

following the interruption. 

(4) Amex will distribute an 

Information Circular to its members 

providing guidance with regard to the 

special characteristics and risks of 

trading this type of security, member 

firm compliance responsibilities, 

including suitability recommendations, 

the specific Amex trading rules 

governing transactions in the Notes, and 

the prospectus delivery requirements 

applicable to the Notes. 

This Order is conditioned on Amex’s 

adherence to the foregoing 

representations. 

The Commission finds good cause to 

approve the proposed rule change, as 

modified by Amendment No. 1 thereto, 

prior to the thirtieth day after 

publication for comment in the Federal 

Register pursuant to Section 19(b)(2) of 

the Act.23 As noted earlier, the Notes are 

substantially similar to other notes, the 

listing and trading of which have 

previously been approved by the 

Commission, and do not appear to 

present any new regulatory concerns.24

In addition, the Commission notes that 

the same Index currently underlies 

other products previously approved for 

listing and trading.25 Accelerating 

approval of this proposed rule change 

would allow the Notes to trade on Amex 

without undue delay and should 

generate additional competition in the 

market for such products. 

IV. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,26 that the 

proposed rule change (SR–Amex–2007–

29), as modified by Amendment No. 1, 

be, and it hereby is, approved on an 

accelerated basis. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.27

J. Lynn Taylor, 

Assistant Secretary. 

[FR Doc. E7–9854 Filed 5–22–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55774; File No. SR–BSE–

2007–09] 

Self-Regulatory Organizations; Boston 

Stock Exchange, Inc.; Notice of Filing 

of Proposed Rule Change and 

Amendment No. 1 Thereto Relating to 

Appointment of Market Makers 

May 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 February 

20, 2007, the Boston Stock Exchange 

(‘‘BSE’’ 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 BSE. On 

May 11, 2007, the Exchange filed with 

the Commission Amendment No. 1.3

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 amend 

Section 4 (Appointment of Market 

Makers) of Chapter VI of the Rules of the 

Boston Options Exchange (‘‘BOX’’). The 

BSE is proposing to amend the BOX 

Rules to grant the authority for the 

Exchange to approve Market Maker 

appointments instead of the Board or a 

committee designated by the Board, as 

the rule currently states. The Exchange 

is also proposing to provide a process 

for those Market Makers who wish to 

withdraw from trading an option issue 

within their appointment. The text of 

the proposed rule change is available on 

the Exchange’s website (http:// 

www.bse.com), at the Exchange’s Office 

of the Secretary and at the Commission. 

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 proposes to amend 

Section 4 (Appointment of Market 

Makers) of Chapter VI of the BOX Rules 

to grant the authority for the Exchange 

to approve Market Maker appointments 

instead of the Board or committee 

designated by the Board, as the rule 

currently states. The Exchange is also 

proposing to provide a process for those 

Market Makers who wish to withdraw 

from trading an option issue within 

their appointment. 

The proposed change of granting the 

Exchange the authority to approve 

Market Maker appointments instead of 

the Board or a committee designated by 

the Board will help aid in the efficiency 

of BOX’s Market Maker allocation 

process. If approved, this proposed 

change will allow the regulatory staff of 

the Exchange the ability to approve 

Market Maker appointments. The BSE 

regulatory staff is more accessible than 

the Board and this change will help 

with the expediency of the Market 

Marker allocation approval process. 

The Exchange has also proposed to 

add a provision to establish a process 

for those Market Makers who wish to 

withdraw from trading an option issue 

within their appointment.4 A Market 

Maker may withdraw from an 

appointment as long as the Market 

Maker provides BOX with three 

business days written notice of their 

intent to withdraw from an 

appointment. If such written notice is 

not provided to BOX, then the Market 

Maker may be subject to formal 

disciplinary action. 


pwalker on PROD1PC71 with NOTICES
29020 Federal Register / Vol. 72, No. 99 / Wednesday, May 23, 2007 / Notices 

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

6 15 U.S.C. 78f(b)(5). 7 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)(iii). 

4 17 CFR 240.19b–4(f)(6). 5The Exchange has asked the Commission to 

waive the 30- day operative delay required by Rule 

19b–4(f)(6)(iii), 17 CFR 240.19b–4(f)(6)(iii). See 

discussion infra Section III. 

2. Statutory Basis 

The Exchange believes that the 

proposal is consistent with the 

requirements of Section 6(b) of the Act,5

in general, and Section 6(b)(5) of the 

Act,6 in particular, in that it is 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 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. 

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 comments on the proposed 

rule change. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Within 35 days of the date of 

publication of this notice in the Federal 

Register or within such longer period (i) 

As the Commission may designate up to 

90 days of such date if it finds such 

longer period to be appropriate and 

publishes its reasons for so finding or 

(ii) as to which the BSE consents, the 

Commission will: 

(a) By order approve such proposed 

rule change, or 

(b) Institute proceedings to determine 

whether the proposed rule change 

should be disapproved. 

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–BSE–2007–09 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 

No. SR–BSE–2007–09. 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 at 

the Commission’s Public Reference 

Room. Copies of such filing will also be 

available for inspection and copying at 

the principal office of the BSE. 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 with to make available publicly. All 

submissions should refer to the file 

number in the caption above and should 

be submitted on or before June 13, 2007. 

For the Commission, by the Division of 

Market Regulation, pursuant to delegated 

authority.7

J. Lynn Taylor, 

Assistant Secretary. 

[FR Doc. E7–9855 Filed 5–22–07; 8:45 am] 

BILLING CODE 8010–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–55773; File No. SR–BSE–

2007–16] 

Self-Regulatory Organizations; Boston 

Stock Exchange, Inc.; Notice of Filing 

and Immediate Effectiveness of 

Proposed Rule Change To Allow Oddlot and Mixed-lot Orders To Be Sent To 

the Boston Equities Exchange 

May 16, 2007. 

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

Securities Exchange Act of 1934 (the 

‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on April 17, 

2007, the Boston Stock Exchange, Inc. 

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

Securities and Exchange Commission 

(the ‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been 

substantially prepared by the BSE. The 

Exchange filed the proposal as a ‘‘noncontroversial’’ proposed rule change 

pursuant to Section 19(b)(3)(A)(iii) of 

the Act 3 and Rule 19b–4(f)(6) 

thereunder,4 which renders it effective 

upon filing with the Commission.5 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 BSE proposes amending Section 

2 and 3 of Chapter XXXVII of the Rules 

of BSE (‘‘BSE Rules’’) to allow odd-lot 

and mixed-lot market or limit orders to 

be sent to the Boston Equities Exchange 

(‘‘BeX’’). The text of the proposed rule 

change is available at BSE, the 

Commission’s Public Reference Room, 

and (http://www.bostonstock.com). 

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 

BSE 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 those 

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 parts of such 

statements. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and the 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

On June 13, 2006 the BSE filed 

Amendment No. 3 to File Number SR–

BSE–2006–22 (the ‘‘BeX Facility 

Filing’’), a rule filing submitted in 

connection with the implementation of 

the first of two phases of BeX, a fully 

automated electronic book for the 


pwalker on PROD1PC71 with NOTICES