Document ID: SEC-2007-1626-0001
Agency: sec
Document Type: Notice
Title: Self-regulatory organizations; proposed rule changes: International Securities Exchange, LLC
Posted Date: 2007-12-03T05:00Z

[Federal Register: December 3, 2007 (Volume 72, Number 231)]
[Notices]               
[Page 67988]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03de07-123]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56843; File No. SR-ISE-2007-71]

 
Self-Regulatory Organizations; International Securities Exchange, 
LLC; Order Approving a Proposed Rule Change Relating to Fee Changes on 
a Retroactive Basis

November 27, 2007.
    On October 2, 2007, the International Securities Exchange, LLC 
(``ISE'' or ``Exchange'') filed with the Securities and Exchange 
Commission (``Commission'') a proposed rule change, pursuant to Section 
19(b)(1) of the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 
19b-4 thereunder,\2\ to retroactively apply a fee reduction that was 
implemented on September 4, 2007, as discussed below. The proposed rule 
change was published for comment in the Federal Register on October 22, 
2007.\3\ The Commission received no comments on the proposal. This 
order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 56662 (October 16, 
2007), 72 FR 59576.
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    On September 4, 2007, the Exchange implemented a fee reduction to 
the Schedule of Fees, effective for the month of September 2007, with 
respect to Electronic Access Member (``EAM'') Trading Application 
Software Fees (``Software Fees'').\4\ Consequently, the Software Fees 
are as follows:
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    \4\ See Securities Exchange Act Release No. 56379 (September 10, 
2007), 72 FR 52591 (September 14, 2007) (SR-ISE-2007-79) (notice of 
filing and immediate effectiveness of a proposed rule change 
relating to fee changes).
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     Equity EAMs are charged $250 for each of the first and 
second connections and $50 for each additional connection thereafter, 
regardless of whether the Equity EAM is connected via Financial 
Information eXchange (``FIX'') or Application Programming Interface 
(``API'').\5\
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    \5\ ISE uses an open API, which members program to in order to 
develop applications that send trading commands and/or queries to 
and receive broadcasts and/or transactions from the trading system. 
FIX is an industry-wide messaging standard protocol.
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     Options EAMs that connect via API are charged $250 for 
each of the first five connections and $100 for each additional 
connection.
     Options EAMs that connect via FIX are charged $250 for 
each of the first and second connections and $50 for each additional 
connection thereafter.
    The Exchange now seeks to apply retroactively these reduced fees to 
the time period of July 1, 2007 to August 31, 2007 (``Retroactive 
Period'').
    The Commission finds that the proposed rule change is consistent 
with the requirements of Section 6 of the Act \6\ and the rules and 
regulations thereunder applicable to a national securities exchange. In 
particular, the Commission finds that the proposed rule change is 
consistent with Section 6(b)(4) of the Act,\7\ in that it will reduce 
the Software Fees during the Retroactive Period and result in an 
equitable allocation of reasonable dues, fees, and other charges among 
the Exchange's members and other persons using its facilities.\8\
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    \6\ 15 U.S.C. 78(f)(b).
    \7\ 15 U.S.C. 78f(b)(4).
    \8\ In approving this rule change, the Commission notes that it 
has considered the proposal's impact on efficiency, competition, and 
capital formation. See 15 U.S.C. 78c(f).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\9\ that the proposed rule change (SR-ISE-2007-71) be, and hereby 
is, approved.
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    \9\ 15 U.S.C. 78s(b)(2).
    \10\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets, 
pursuant to delegated authority.\10\
Nancy M. Morris,
Secretary.
[FR Doc. E7-23318 Filed 11-30-07; 8:45 am]

BILLING CODE 8011-01-P