Document ID: SEC-2006-0585-0001
Agency: sec
Document Type: Notice
Title: Intermarket Trading System; plan amendments
Posted Date: 2006-05-05T04:00Z

[Federal Register: May 5, 2006 (Volume 71, Number 87)]
[Notices]               
[Page 26573-26574]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr05my06-137]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53733; File No. 4-208]

 
Intermarket Trading System; Notice of Filing and Immediate 
Effectiveness of the Twenty Second Amendment to the ITS Plan Relating 
to the Change in Name From the Cincinnati Stock Exchange, Inc., to the 
National Stock Exchange and to the Admission of the NASDAQ Stock Market 
LLC as an ITS Participant

April 27, 2006.
    Pursuant to Section 11A of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 608 thereunder,\2\ notice is hereby given that 
on April 19, 2006, the ITS Participants, through the ITS Operating 
Committee, submitted to the Securities and Exchange Commission 
(``Commission'') a proposed amendment (``Twenty Second Amendment'') to 
the restated ITS Plan.\3\ The purpose of the Twenty Second Amendment is 
to recognize the change in name from the Cincinnati Stock Exchange, 
Inc., to the National Stock Exchange and to admit the NASDAQ Stock 
Market LLC as an ITS Participant. Pursuant to Rule 608(b)(3)(ii) under 
the Act,\4\ the ITS Participants designated the amendment as concerned 
solely with the administration of the Plan. As a result, the Twenty 
Second Amendment has become effective upon filing with the 
Commission.\5\ At any time within 60 days of the filing of the 
amendment, the Commission may summarily abrogate the amendment and 
require that such amendment be refiled in accordance with paragraph 
(a)(1) of Rule 608 and reviewed in accordance with paragraph (b)(2) of 
Rule 608, if it appears to the Commission that such action is necessary 
or appropriate in the public interest, for the protection of investors, 
or the maintenance of fair and orderly markets, to remove impediments 
to, and perfect the mechanisms of, a national market system or 
otherwise in furtherance of the purposes of the Act. The Commission is 
publishing this notice to solicit comments from interested persons.
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    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ The ITS Plan is a National Market System (``NMS'') plan, 
which was designed to facilitate intermarket trading in exchange-
listed equity securities based on current quotation information 
emanating from the linked markets. See Securities Exchange Act 
Release No. 19456 (January 27, 1983), 48 FR 4938 (February 3, 1983).
    The ITS Participants currently include the American Stock 
Exchange LLC (``Amex''), the Boston Stock Exchange, Inc. (``BSE''); 
the Chicago Board Options Exchange, Inc. (``CBOE''); the Chicago 
Stock Exchange (``CHX''), Inc., the Cincinnati Stock Exchange, Inc. 
(``CSE''), the National Association of Securities Dealers, Inc. 
(``NASD''), the New York Stock Exchange, Inc. (``NYSE''), the 
Pacific Exchange, Inc. (``PCX''), and the Philadelphia Stock 
Exchange, Inc. (``Phlx'') (``Participants'').
    \4\ 17 CFR 242.608(b)(3)(ii).
    \5\ The ITS Participants initially filed the Twenty Second 
Amendment on March 17, 2006. The ITS Participants amended the filing 
on April 19, 2006 to designate the filing as effective on filing 
pursuant to Rule 608(b)(3)(ii) under the Act and to make other 
technical changes.
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I. Description and Purpose of the Proposed Amendment

    The ITS Participants proposed to amend the restated ITS Plan to 
recognize the change in name from the Cincinnati Stock Exchange, Inc., 
to the National Stock Exchange and to admit the NASDAQ Stock Market LLC 
as an ITS Participant.

A. Governing or Constituent Documents

    Not applicable.

B. Implementation of Amendment

    The ITS Participants have manifested their approval of the proposed 
amendment by means of their execution of the Twenty Second Amendment. 
The Amendment has become effective upon filing.

C. Development and Implementation Phases

    Not applicable.

D. Analysis of Impact on Competition

    The Participants believe that the proposed amendment does not 
impose any burden on competition.

E. Written Understanding or Agreements Relating to Interpretation of, 
or Participation in, Plan

    Not applicable.

F. Approval by Sponsors in Accordance With Plan

    Under section 4(c) of the restated ITS Plan, the requisite approval 
of the amendment is achieved by execution of the amendment on behalf of 
each ITS Participant. The amendment is so executed.

G. Description of Operation of Facility Contemplated by the Proposed 
Amendment

    Not applicable.

H. Terms and Conditions of Access

    Not applicable.

[[Page 26574]]

I. Method of Determination and Imposition, and Amount of, Fees and 
Charges

    Not applicable.

J. Method of Frequency of Processor Evaluation

    Not applicable.

K. Dispute Resolution

    Not applicable.

II. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed Plan 
amendment 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 rule-comments@sec.gov. Please include 

File No. 4-208 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, Station Place, 100 F 
Street, NE., Washington, DC 20549-1090.
    All submissions should refer to File No. 4-208. 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 Plan amendment that are filed 
with the Commission, and all written communications relating to the 
proposed Plan amendment 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. Copies of the filing 
also will be available for inspection and copying at the principal 
office of the ITS. 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 No. 4-208 and 
should be submitted on or before May 26, 2006.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(27).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-6780 Filed 5-4-06; 8:45 am]

BILLING CODE 8010-01-P