6226 Federal Register / Vol. 73, No. 22 / Friday, February 1, 2008 / Notices 

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

9 15 U.S.C. 78f(b)(5). 10 17 CFR 200.30–3(a)(12). 

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

2 17 CFR 240.19b–4. 

6(b) of the Act,8 in general, and furthers 

the objectives of Section 6(b)(5) of the 

Act,9 in particular, in that it is designed 

to prevent fraudulent and manipulative 

acts, promote just and equitable 

principles of trade, remove 

impediments to and perfect the 

mechanism of a free and open market 

and a national market system, and, in 

general, to protect investors and the 

public interest. The Exchange believes 

that this new order type will offer 

market participants new trading 

opportunities on the Exchange and 

enhance the Exchange’s competitive 

position. 

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange believes that 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 

The Exchange has not solicited, and 

does not intend to solicit, comments on 

this proposed rule change. The 

Exchange has not received any written 

comments from members or other 

interested parties. 

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 Exchange consents, 

the Commission will: 

A. By order approve the 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–ISE–2007–95 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–ISE–2007–95. 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, 100 F Street, NE., Washington, 

DC 20549, on official business days 

between the hours of 10 a.m. and 3 p.m. 

Copies of such 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–ISE–2007–95 and should be 

submitted on or before February 22, 

2008. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E8–1834 Filed 1–31–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–57204; File No. SR–NYSE–

2008–05] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Order Granting Accelerated 

Approval of Proposed Rule Change To 

Eliminate the One-Year Minimum Life 

Requirement From the Listing 

Standards for ‘‘Other Securities’’

January 25, 2008. 

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 January 

15, 2008, 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 prepared substantially by NYSE. 

This order provides notice of the 

proposed rule change and approves the 

proposed rule change on an accelerated 

basis. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Section 703.19 of the Exchange’s Listed 

Company Manual (‘‘Manual’’), which 

sets forth the initial listing standards for 

‘‘Other Securities,’’ to eliminate the 

requirement that securities listed 

thereunder must have a minimum life of 

one year. The text of the proposal is 

available at NYSE, the Commission’s 

Public Reference Room, and http:// 

www.nyse.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 

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 III below, and 

the most significant aspects of such 

statements are set forth in Sections A, B, 

and C below. 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 73, No. 22 / Friday, February 1, 2008 / Notices 6227 

3See NASDAQ Rule 4420(f), Section 107(A) of 

the Amex Company Guide, and NYSE Arca Equities 

Rule 5.2(j)(1), respectively. 

4 15 U.S.C. 78f. 

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

6 In approving this rule change, the Commission 

notes that it has considered the proposed rule’s 

impact on efficiency, competition, and capital 

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

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

8See supra note 3. 

9 15 U.S.C. 78s(b)(2). 

10 17 CFR 200.30–3(a)(12). 

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 703.19 of the Manual, which 

sets forth the Exchange’s initial listing 

standards for ‘‘Other Securities,’’ to 

eliminate the requirement that securities 

listed thereunder must have a minimum 

life of one year. The Exchange seeks to 

make this change to harmonize Section 

703.19 of the Manual with the 

comparable rules of The NASDAQ Stock 

Market LLC (‘‘NASDAQ’’), the American 

Stock Exchange LLC (‘‘Amex’’), and 

NYSE Arca Equities, Inc. (‘‘NYSE Arca 

Equities’’), none of which contain a 

minimum life requirement.3

2. Statutory Basis 

The proposed rule change is 

consistent with Section 6 of the Act,4 in 

general, and furthers the objectives of 

Section 6(b)(5),5 in particular, in that it 

is designed to prevent fraudulent and 

manipulative acts and practices, to 

foster cooperation and coordination 

with persons engaged in facilitating 

transactions in securities, to remove 

impediments to and perfect the 

mechanism of a free and open market, 

and, in general, to protect investors and 

the public interest. Specifically, the 

Exchange believes that the proposed 

rule change seeks to remove 

impediments to and perfect the 

mechanism of a free and open market by 

conforming NYSE’s listing rules to those 

of its competitors, enabling the 

Exchange to compete for listings of 

securities that can currently be listed 

under the rules of the Exchange’s 

competitors. 

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 states that written 

comments on the proposed rule change 

were neither solicited nor received. 

III. 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–NYSE–2008–05 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–NYSE–2008–05. 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 

Room, 100 F Street, NE., Washington, 

DC 20549, on official business days 

between the hours of 10 a.m. and 3 p.m. 

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–2008–05 and should 

be submitted on or before February 22, 

2008. 

IV. Commission’s Findings and Order 

Granting Accelerated Approval of the 

Proposed Rule Change 

After careful consideration, the 

Commission finds that the proposed 

rule change is consistent with the 

requirements of the Act and the rules 

and regulations thereunder applicable to 

a national securities exchange.6 In 

particular, the Commission finds that 

the proposed rule change is consistent 

with Section 6(b)(5) of the Act,7 which 

requires that the rules of an exchange be 

designed, among other things, to 

promote just and equitable principles of 

trade, to remove impediments to and 

perfect the mechanism of a free and 

open market and a national market 

system, and, in general, to protect 

investors and the public interest. The 

Commission notes that comparable rules 

of other national securities exchanges 

currently do not require such ‘‘Other 

Securities’’ to have a minimum life of 

one year.8

The Commission finds good cause for 

approving this proposal before the 30th 

day after the publication of notice 

thereof in the Federal Register. As 

noted above, the proposal seeks to 

harmonize the Exchange’s initial listing 

standards for ‘‘Other Securities’’ with 

those of other national securities 

exchanges. The initial listing standards 

for ‘‘Other Securities’’ of such other 

national securities exchanges do not 

appear to present any new or significant 

regulatory concerns. Therefore, the 

Commission believes that accelerating 

approval of this proposal would allow 

the Exchange to trade such ‘‘Other 

Securities’’ without undue delay and 

should generate additional competition 

in the market for such products. 

V. Conclusion 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,9 that the 

proposed rule change (SR–NYSE–2008–

05) be, and it hereby is, approved on an 

accelerated basis. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.10

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E8–1833 Filed 1–31–08; 8:45 am] 

BILLING CODE 8011–01–P 

mstockstill on PROD1PC66 with NOTICES