Document ID: SEC-2007-1690-0001
Agency: sec
Document Type: Notice
Title: Consolidated Tape Association Plan; amendments
Posted Date: 2007-12-12T05:00Z

[Federal Register: December 12, 2007 (Volume 72, Number 238)]
[Notices]               
[Page 70621-70622]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr12de07-83]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56904; File No. SR-CTA-2007-02]

 
Consolidated Tape Association; Notice of Filing of the Eleventh 
Substantive Amendment to the Second Restatement of the Consolidated 
Tape Association Plan

December 5, 2007.
    Pursuant to Section 11A of the Securities Exchange Act of 1934 
(``Act''),\1\ and Rule 608 thereunder,\2\ notice is hereby given that 
on November 5, 2007, the Consolidated Tape Association (``CTA'') Plan 
Participants (``Participants'')\3\ filed with the Securities and 
Exchange Commission (``SEC'' or ``Commission'') a proposal to amend the 
Second Restatement of the CTA Plan (the `` CTA Plan''). The proposal 
represents the eleventh substantive amendment to the Plan (``Eleventh 
Substantive Amendment'') and reflects changes unanimously adopted by 
the Participants. The proposed amendment would permit Participants to 
report to the Processor under the CTA Plan the actual number of shares 
for each transaction (exclusive of odd-lots), rather than to report the 
number of round lots for each transaction. The Commission is publishing 
this notice to solicit comments from interested persons on the proposed 
Eleventh Substantive Amendment to the CTA Plan.

I. Rule 608(a)

A. Description and Purpose of the Amendment

    The Plan currently requires Participants to include in their 
transaction reports to the CTA Plan's processor the stock symbol of the 
Eligible Security, the price at which the transaction was executed, and 
the volume, in round lots, involved in the transaction.
    The Eleventh Substantive Amendment proposes to replace the 
requirement that Participants report each transaction's volume in round 
lots with a requirement that each Participant

[[Page 70622]]

report the actual number of shares for each transaction, exclusive of 
odd-lots.
    The Participants believe that reporting transactions in the actual 
number of shares traded rather than round lots will add greater 
transparency to the marketplace. The Participants also believe that it 
remains appropriate to exclude odd lots from CTA trade reporting 
because the small size of odd-lot trades adds little to marketplace 
transparency and because the number of odd-lot trades would merely 
serve to clutter data feeds and make it more difficult for investors to 
obtain a true view of the markets for Eligible Securities. The text of 
the proposed Amendment is available on the CTA's Web site (http://www.nysedata.com/cta
), at the principal office of the CTA, and at the 

Commission's Public Reference Room.

B. Additional Information Required by Rule 608(a)

1. Governing or Constituent Documents
    Not applicable.
2. Implementation of the Amendment
    The Participants propose to implement the change soon after receipt 
of Commission approval of the Amendment, but no earlier than January 1, 
2008.
3. Development and Implementation Phases
    See Item I(B)(2) above.
4. Analysis of Impact on Competition
    The amendment will impose no burden on competition.
5. Written Understanding or Agreements relating to Interpretation of, 
or Participation in, Plan
    The Participants have no written understandings or agreements 
relating to interpretation of the CTA Plan as a result of the 
amendment.
6. Approval by Sponsors in Accordance With Plan
    Under Section IV(b) of the CTA Plan, each Plan Participant must 
execute a written amendment to the CTA Plan before the amendment can 
become effective. The amendment is so executed.
7. Description of Operation of Facility Contemplated by the Proposed 
Amendment
    a. Terms and Conditions of Access
    Not applicable.
    b. Method of Determination and Imposition, and Amount of, Fees and 
Charges
    Not applicable.
    c. Method of Frequency of Processor Evaluation
    Not applicable.
    d. Dispute Resolution
    Not applicable.

II. Rule 601(a)

A. Equity Securities for Which Transaction Reports Shall Be Required by 
the Plan

    Not applicable.
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    \1\ 15 U.S.C. 78k-1.
    \2\ 17 CFR 242.608.
    \3\ Each Participant executed the proposed amendment. The 
Participants are the American Stock Exchange LLC; Boston Stock 
Exchange, Inc.; Chicago Board Options Exchange, Inc.; Chicago Stock 
Exchange, Inc.; International Securities Exchange, LLC; The NASDAQ 
Stock Market LLC; National Association of Securities Dealers, Inc. 
(n/k/a the Financial Industry Regulatory Authority); National Stock 
Exchange, Inc.; New York Stock Exchange LLC.; NYSE Arca, Inc.; and 
Philadelphia Stock Exchange, Inc.
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B. Reporting Requirements

    Not applicable.

C. Manner of Collecting, Processing, Sequencing, Making Available and 
Disseminating Last Sale Information

    Not applicable.

D. Manner of Consolidation

    Not applicable.

E. Standards and Methods Ensuring Promptness, Accuracy and Completeness 
of Transaction Reports

    Not applicable.

F. Rules and Procedures Addressed to Fraudulent or Manipulative 
Dissemination

    Not applicable.

G. Terms of Access to Transaction Reports

    Not applicable.

H. Identification of Marketplace Execution

    Not applicable.

III. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed 
Eleventh Substantive 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 Number SR-CTA-2007-02 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-CTA-2007-02. 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 Plan amendment that are filed 
with the Commission, and all written communications relating to the 
Plan amendment 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 CTA Plan amendment also will be available 
for inspection and copying at the principal office of the CTA. 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-CTA-2007-02 and should be 
submitted on or before January 2, 2008.

For the Commission, by the Division of Trading and Markets, pursuant 
to delegated authority.\4\
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    \4\ 17 CFR 200.30-3(a)(27).
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Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E7-23966 Filed 12-11-07; 8:45 am]

BILLING CODE 8011-01-P