Federal Register / Vol. 73, No. 24 / Tuesday, February 5, 2008 / Notices 6755 

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

2 17 CFR 240.19b–4. 

3See Securities Exchange Act Release No. 56984 

(December 18, 2007), 72 FR 73392. 

4 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). 

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

6 15 U.S.C. 78f(b)(4). 

7 15 U.S.C. 78s(b)(2). 

8 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). 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–57223; File No. SR–NYSE–

2007–110] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Order 

Granting Approval of a Proposed Rule 

Change as Modified by Amendment 

No. 1 Thereto To Amend Listing Fees 

for Structured Products, Short-Term 

Securities, and Debt Securities 

January 29, 2008. 

On November 28, 2007, New York 

Stock Exchange, LLC (the ‘‘NYSE’’ or 

the ‘‘Exchange’’) filed with the 

Securities and Exchange Commission 

(‘‘Commission’’), pursuant to Section 

19(b)(1) of the Securities Exchange Act 

of 1934 (‘‘Act’’)1 and Rule 19b–4 

thereunder,2 a proposed rule change to 

amend listing fees for structured 

products, short-term securities, and debt 

securities. On December 17, 2007, NYSE 

filed Amendment No. 1 to the proposed 

rule change. The Commission published 

the proposed rule change for comment 

in the Federal Register on December 27, 

2007.3 The Commission received no 

comments on the proposed rule change. 

This order approves the proposed rule 

change. 

The Exchange’s proposal would 

amend Section 902 of the Listed 

Company Manual to alter the 

Exchange’s listing fees applicable to 

structured products, short-term 

securities, and debt securities. The 

proposal would not amend the listing 

fees applicable to equity securities of 

operating companies. 

Annual fees for structured products 

(Section 902.05) and short-term 

securities (Section 902.06) are currently 

a minimum of $5,000 per year. Under 

the proposal, the Exchange would 

charge a supplement to the 2008 Annual 

Fees for the period from February 1, 

2008, until year end. An issuer that 

would pay less than $15,000 in Annual 

Fees for 2008 would be required to pay 

a supplemental amount equal to the 

difference between its Annual Fee and 

$15,000. For 2009 and thereafter, the 

Exchange would increase the minimum 

annual fee to $15,000. Annual fees 

would not be increased for short-term 

warrants to purchase equity securities 

(which would continue to be subject to 

a $5,000 minimum annual fee) and such 

warrants would not be subject to the 

supplemental payment for 2008. 

The Exchange currently applies the 

debt securities fee schedule set forth in 

Section 902.08 to securities listed under 

Section 703.19 and traded on NYSE 

Bonds. The proposed rule change would 

amend Section 902.08 to impose a flat 

initial listing fee of $15,000 on all 

structured products (including shortterm securities) listed under Section 

703.19 and traded on NYSE Bonds. 

Currently, NYSE-listed companies and 

their affiliates pay no fees on structured 

products that trade on NYSE Bonds; the 

new proposed $15,000 initial listing fee 

would apply to all structured products 

listed on NYSE Bonds going forward. 

Section 902.08 would also be amended 

to impose a $15,000 initial listing fee on 

securities listed under the debt standard 

of Section 102.03 in place of the current 

fees. Debt listed under Section 102.03 of 

NYSE equity issuers and affiliated 

companies and of issuers exempt from 

registration under the Exchange Act 

would continue to be exempt from 

listing fees. 

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.4 In particular, the 

Commission finds that the proposed 

rule change is consistent with Section 

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

an exchange have rules 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 also 

finds that the proposal is consistent 

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

requires the equitable allocation of 

reasonable dues, fees, and other charges 

among the Exchange’s members and 

issuers and other persons using its 

facilities. The Commission notes that no 

comments were filed in this matter. 

It is therefore ordered, pursuant to 

Section 19(b)(2) of the Act,7 that the 

proposed rule change (SR–NYSE–2007–

110), as modified by Amendment No. 1, 

be, and it hereby is, approved. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.8

Florence E. Harmon, 

Deputy Secretary. 

[FR Doc. E8–1968 Filed 2–4–08; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–57232; File No. SR–NYSE–

2008–08] 

Self-Regulatory Organizations; New 

York Stock Exchange LLC; Notice of 

Filing and Immediate Effectiveness of 

a Proposed Rule Change Relating to 

Listed Company Manual Section 

806.01 (Change of Specialist Unit Upon 

Request of Company) 

January 30, 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 

22, 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 substantially prepared by the 

Exchange. The Exchange has designated 

the proposed rule change as ‘‘noncontroversial’’ under Section 

19(b)(3)(A)(iii)3 of the Act and Rule 

19b–4(f)(6) thereunder,4 which renders 

the proposal effective upon filing with 

the Commission. 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 Exchange is proposing to amend 

Listed Company Manual Section 806.01 

to eliminate the mediation procedure 

required when a listed company 

requests a change of its specialist firm. 

The text of the proposed rule changes 

is available on the Exchange’s Web site 

(http://www.nyse.com), at the 

Exchange’s Office of the Secretary, and 

at the Commission’s Public Reference 

Room. 


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