Document ID: SEC-2007-0416-0001
Agency: sec
Document Type: Notice
Title: Self-regulatory organizations; proposed rule changes: American Stock Exchange LLC
Posted Date: 2007-03-20T04:00Z

[Federal Register: March 20, 2007 (Volume 72, Number 53)]
[Notices]               
[Page 13144-13145]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20mr07-97]                         

[[Page 13144]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-55459; File No. SR-Amex-2007-28]

 
Self-Regulatory Organizations; American Stock Exchange LLC; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
Relating to Transaction Charges for Equities, ETFs, and Nasdaq UTP 
Securities

March 13, 2007.
    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 March 1, 2007, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change as described in Items I, II, 
and III below, which Items have been substantially prepared by the 
Exchange. The Commission is publishing this notice to solicit comments 
on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to revise its Equities, Exchange Traded Funds 
and Trust Issued Receipts (``ETFs''), and Nasdaq UTP Fee Schedules 
(collectively, the ``Fee Schedule'').
    The text of the proposed rule change is available on the Exchange's 
Web site (http://www.amex.com), at the Exchange's principal office, and 

at the Commission's Public Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of, and basis for, the proposed rule change and 
discussed any comments it received on the proposed rule change. The 
text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
sections A, B, and C below, of the most significant aspects of such 
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The Exchange recently revised its Equities, ETFs, and Nasdaq UTP 
Fee Schedules.\3\ The Exchange is now proposing to make some additional 
changes to each of the fee schedules. The Equity Fee Schedule will be 
amended to (1) clarify that Amex transaction charges assessed for 
orders routed through the NMS Linkage Plan apply only to orders routed 
to Amex and not to orders routed from Amex to another market center; 
and (2) provide that there will be no transaction charge for equities 
executed at a per-share price below $1.00. The ETF Fee Schedule will be 
amended to (1) decrease the rate charged to member firms for customer 
account transactions from $0.34 to $0.30 per 100 shares; (2) eliminate 
the Value Based Fee currently charged for transactions for the accounts 
of non-member competing market makers; (3) clarify that Amex 
transaction charges assessed for orders routed through the NMS Linkage 
Plan apply only to orders routed to Amex and not to orders routed from 
Amex to another market center; and (4) provide that there will be no 
transaction charge for ETFs executed at a per-share price below $1.00. 
The Nasdaq UTP Fee Schedule will be amended to provide that there will 
be no transaction charge for Nasdaq UTP securities executed at a per-
share price below $1.00.
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    \3\ See SR-Amex-2007-23 filed on February 22, 2007.
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2. Statutory Basis
    The proposed fee change is consistent with Section 6(b)(4) of the 
Act \4\ regarding the equitable allocation of reasonable dues, fees, 
and other charges among exchange members and other persons using 
exchange facilities.
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    \4\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The proposed rule change does not impose any burden on competition 
that is not necessary or appropriate in furtherance of the purposes of 
the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants or Others

    No written comments were solicited or received with respect to the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The foregoing proposed rule change has become effective pursuant to 
Section 19(b)(3)(A)(ii) of the Act \5\ and Rule 19b-4(f)(2) thereunder 
\6\ because it establishes or changes a due, fee, or other charge 
imposed by the Exchange. At any time within 60 days of the filing of 
the proposed rule change, the Commission may summarily abrogate such 
rule change if it appears to the Commission that such action is 
necessary or appropriate in the public interest, for the protection of 
investors, or otherwise in furtherance of the purposes of the Act.
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    \5\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \6\ 17 CFR 19b-4(f)(2).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposed rule 
change 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. SR-Amex-2007-28 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 Number SR-Amex-2007-28. 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 rule change that 
are filed with the Commission, and all written communications relating 
to the proposed rule 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

[[Page 13145]]

Room. Copies of the filing also will be available for inspection and 
copying at the principal office of Amex. 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-Amex-2007-28 and should be submitted on 
or before April 10, 2007.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Florence E. Harmon,
Deputy Secretary.
[FR Doc. E7-4977 Filed 3-19-07; 8:45 am]

BILLING CODE 8010-01-P