Federal Register / Vol. 73, No. 160 / Monday, August 18, 2008 / Notices 48269 

5 In approving this proposed rule change, the 

Commission has considered the proposed rule’s 

impact on efficiency, competition, and capital 

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

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

7See Exchange Act Release Nos. 48355 (August 

22, 2003), 68 FR 50813 (August 22, 2003) (SR–BSE–

2002–15); and 49260 (February 14, 2004), 69 FR 

8500 (February 24, 2004) (approval, among other 

things, of ISE rule incorporating CBOE and NYSE 

margin rules). The Exchange has, under separate 

cover, submitted a letter seeking an exemption 

under Section 36 of the Act from the rule filing 

procedures of Section 19(b) of the Act with respect 

to changes to the incorporated CBOE and NYSE 

margin rules going forward. 

8 15 U.S.C. 78s(b)(2). 

9 17 CFR 200.30–3(a)(12). 

Record of Required Margin). The 

Exchange also proposes to significantly 

shorten Rules 723 (Day Trading and 

Prohibition on Free-Riding in Cash 

Accounts) and 722 (Margin Accounts) to 

eliminate redundant language while 

retaining those margin requirements 

that are unique to current Exchange 

margin rules. At the same time, the 

Exchange proposes to retain those 

margin provisions that are unique to 

current Exchange margin rules, 

particularly those pertaining to foreign 

currency options, which only trade on 

Phlx. 

After careful review of the proposal, 

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.5 In 

particular, the Commission finds that 

the proposal is consistent with Section 

6(b)(5) of the Act,6 which requires, 

among other things that the rules of an 

exchange be designed to prevent 

fraudulent and manipulative acts and 

practices, to promote just and equitable 

principles of trade, to remove 

impediments to and to 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 believes that this 

proposed rule change will streamline 

the Exchange’s margin rules 

commensurate with industry practice. 

The Commission notes that the 

proposed rule change will require Phlx 

member organizations to elect, via 

written notice to the Exchange, to use 

and follow the margin rules of either 

CBOE or NYSE as they are in effect from 

time to time. The Commission also 

notes that this proposal to incorporate 

CBOE or NYSE margin rules is similar 

to the approach used by the 

International Securities Exchange and 

the Boston Options Exchange requiring 

their members to elect and follow CBOE 

or NYSE margin rules and incorporating 

such rules by reference into their own 

rules.7

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,8 that the 

proposed rule change (SR–Phlx–2007–

33), as modified by Amendment Nos. 1 

and 2, be, and hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.9

Florence E. Harmon, 

Acting Secretary. 

[FR Doc. E8–19029 Filed 8–18–08; 8:45 am] 

BILLING CODE 8010–01–P 

DEPARTMENT OF TRANSPORTATION 

Office of the Secretary 

Application of Air Greco, Inc. D/B/A 

Wings Air for Commuter Authority 

AGENCY: Department of Transportation. 

ACTION: Notice of Order to Show Cause 

(Order 2008–8–9), Docket DOT–OST–

2008–0154. 

SUMMARY: The Department of 

Transportation is directing all interested 

persons to show cause why it should 

not issue an order finding Air Greco, 

Inc. d/b/a Wings Air fit, willing, and 

able, and awarding it Commuter Air 

Carrier Authorization. 

DATES: Persons wishing to file 

objections should do so no later than 

August 21, 2008. 

ADDRESSES: Objections and answers to 

objections should be filed in Docket 

DOT–OST–2008–0154 and addressed to 

U.S. Department of Transportation, 

Docket Operations, (M–30, Room W12–

140), 1200 New Jersey Avenue, SE., 

West Building Ground Floor, 

Washington, DC 20590, and should be 

served upon the parties listed in 

Attachment A to the order. 

FOR FURTHER INFORMATION CONTACT: Rick 

Pittaway, Air Carrier Fitness Division 

(X–56, Room W86–467), U.S. 

Department of Transportation, 1200 

New Jersey Avenue, SE., Washington, 

DC 20590, (202) 366–9721. 

Dated: August 12, 2008. 

Michael W. Reynolds, 

Acting Assistant Secretary for Aviation and 

International Affairs. 

[FR Doc. E8–19055 Filed 8–15–08; 8:45 am] 

BILLING CODE 4910–9X–P 

DEPARTMENT OF TRANSPORTATION 

Federal Motor Carrier Safety 

Administration 

[Docket No. FMCSA–99–6480; FMCSA–99–

5578; FMCSA–99–5748; FMCSA–01–11426; 

FMCSA–02–12294; FMCSA–04–17195; 

FMCSA–05–22194; FMCSA–06–24783] 

Qualification of Drivers; Exemption 

Applications; Vision 

AGENCY: Federal Motor Carrier Safety 

Administration (FMCSA), DOT. 

ACTION: Notice of renewal of 

exemptions; request for comments. 

SUMMARY: FMCSA announces its 

decision to renew the exemptions from 

the vision requirement in the Federal 

Motor Carrier Safety Regulations for 16 

individuals. FMCSA has statutory 

authority to exempt individuals from 

the vision requirement if the 

exemptions granted will not 

compromise safety. The Agency has 

concluded that granting these 

exemption renewals will provide a level 

of safety that is equivalent to, or greater 

than, the level of safety maintained 

without the exemptions for these 

commercial motor vehicle (CMV) 

drivers. 

DATES: This decision is effective 

September 9, 2008. Comments must be 

received on or before September 17, 

2008. 

ADDRESSES: You may submit comments 

bearing the Federal Docket Management 

System (FDMS) Docket ID FMCSA–99–

6480; FMCSA–99–5578; FMCSA–99–

5748; FMCSA–01–11426; FMCSA–02–

12294; FMCSA–04–17195; FMCSA–05–

22194; FMCSA–06–24783, using any of 

the following methods. 

• Federal eRulemaking Portal: Go to 

http://www.regulations.gov. Follow the 

on-line instructions for submitting 

comments. 

• Mail: Docket Management Facility; 

U.S. Department of Transportation, 1200 

New Jersey Avenue, SE., West Building 

Ground Floor, Room W12–140, 

Washington, DC 20590–0001. 

• Hand Delivery or Courier: West 

Building Ground Floor, Room W12–140, 

1200 New Jersey Avenue, SE., 

Washington, DC, between 9 a.m. and 5 

p.m., Monday through Friday, except 

Federal Holidays. 

• Fax: 1–202–493–2251. 

Each submission must include the 

Agency name and the docket number for 

this Notice. Note that DOT posts all 

comments received without change to 

http://www.regulations.gov, including 

any personal information included in a 

comment. Please see the Privacy Act 

heading below. 


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