Document ID: SEC-2006-0486-0001
Agency: sec
Document Type: Notice
Title: Self-regulatory organizations; proposed rule changes: Pacific Exchange, Inc.
Posted Date: 2006-04-13T04:00Z

[Federal Register: April 13, 2006 (Volume 71, Number 71)]
[Notices]               
[Page 19226-19227]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr13ap06-129]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53615; File No. SR-PCX-2006-24]

 
Self-Regulatory Organizations; Pacific Exchange, Inc.; Notice of 
Filing and Immediate Effectiveness of Proposed Rule Change and 
Amendments No. 1 and 2 Thereto To Change the Names of the Pacific 
Exchange, Inc., PCX Equities, Inc., PCX Holdings, Inc., and the 
Archipelago Exchange, L.L.C.

April 7, 2006.
    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 6, 2006, the Pacific Exchange, Inc. (``Exchange''), through 
its wholly-owned subsidiary PCX Equities, Inc. 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 prepared by the Exchange. On March 30, 2006, the Exchange filed 
Amendment No. 1 to the proposed rule change.\3\ On April 5, 2006, the 
Exchange filed Amendment No. 2 to the proposed rule change.\4\ The 
Exchange has designated this proposal as one being concerned solely 
with the administration of the Exchange pursuant to section 
19(b)(3)(A)(iii) of the Act \5\ and Rule 19b-4(f)(3) thereunder,\6\ 
which renders the proposal effective upon filing with the Commission. 
The Commission is publishing this notice to solicit comments on the 
proposed rule change, as amended, from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Letter from Janet Angstadt, Deputy General Counsel, 
Exchange, to Heather Seidel, Senior Special Counsel, dated March 30, 
2006.
    \4\ See Letter from Janet Angstadt, Deputy General Counsel, 
Exchange, to Heather Seidel, Senior Special Counsel, dated April 3, 
2006.
    \5\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \6\ 17 CFR 240.19b-4(f)(3).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The Exchange proposes to amend (i) its rules, including the Options 
Floor Procedure Advices, (ii) the rules of PCX Equities, Inc., (iii) 
the Certificate of Incorporation and Bylaws of the Exchange, (iv) the 
Certificate of Incorporation and Bylaws of PCX Equities, Inc., (v) the 
Amended and Restated Bylaws of Archipelago Holdings, Inc., and (vi) the 
Amended and Restated Certificate of Incorporation of PCX Holdings, Inc. 
(collectively, the ``Operative Documents'') to make changes to the 
following names: Pacific Exchange, Inc., PCX Equities, Inc., PCX 
Holdings, Inc., and Archipelago Exchange, L.L.C. The proposed name 
changes relate to recent ownership changes at the Exchange. The 
Exchange also proposes to change references to ``Arca Book,'' 
``Archipelago Exchange,'' and ``ArcaEx'' in the Operative Documents.
    The text of the proposed rule change is available on the Exchange's 
Internet Web site (http://www.archipelago.com), at the Exchange's 

principal office, and at the Commission's Public Reference Room. The 
text of Exhibit 5 to the proposed rule change (showing proposed changes 
to the Operative Documents) also is available on the Commission's 
Internet Web site (http://www.sec.gov/rules/sro.html).

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 proposes to amend the Operative Documents to make 
changes to the following names: Pacific Exchange, Inc., PCX Equities, 
Inc., PCX Holdings, Inc., and Archipelago Exchange, L.L.C. The proposed 
name changes relate to recent ownership changes at the Exchange. On 
September 26, 2005, Archipelago Holdings, Inc. acquired PCX Holdings, 
Inc., the parent company of the Exchange. On or about March 7, 2006, 
Archipelago Holdings, Inc. completed a proposed business combination 
with the New York Stock Exchange, Inc. As a result of these corporate 
changes, the Exchange proposes the following specific name changes to 
the entities listed below:

------------------------------------------------------------------------
       Current name of entity                Proposed entity name
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Pacific Exchange, Inc                 NYSE Arca, Inc.
PCX Equities, Inc                     NYSE Arca Equities, Inc.
PCX Holdings, Inc                     NYSE Arca Holdings, Inc.
Archipelago Exchange, L.L.C           NYSE Arca, L.L.C.
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    In addition, the Exchange proposes to amend the Operative Documents 
to change references to ``Arca Book'' to ``NYSE Arca Book'' and to 
change references to ``Archipelago Exchange'' and ``ArcaEx'' to ``NYSE 
Arca Marketplace.'' The Exchange represents that the filing reflects 
name changes only and does not affect in any manner the Exchange's 
operations and governance structure.
2. Statutory Basis
    The Exchange believes that the proposed rule change, as amended, is 
consistent with section 6(b) of the Act,\7\ in general, and section 
6(b)(5) of the Act,\8\ in particular, in that it is designed to promote 
just and equitable principles of trade, to foster cooperation and 
coordination with persons engaged in facilitating transactions in 
securities, and to remove impediments to and perfect the mechanisms of 
a free and open market and a national market system.
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    \7\ 15 U.S.C. 78f(b).
    \8\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will 
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.

[[Page 19227]]

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

    Because it is concerned solely with the administration of the 
Exchange, the foregoing proposed rule change has become effective 
pursuant to section 19(b)(3)(A)(iii) of the Act \9\ and Rule 19b-
4(f)(3) \10\ thereunder. 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.\11\
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    \9\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \10\ 17 CFR 240.19b-4(f)(3).
    \11\ For purposes of calculating the 60-day period within which 
the Commission may summarily abrogate the proposed rule change under 
section 19(b)(3)(C) of the Act, the Commission considers the period 
to commence on April 5, 2006, the date on which the Exchange filed 
Amendment No. 2. See 15 U.S.C. 78s(b)(3)(C).
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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, as amended, 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-PCX-2006-24 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-PCX-2006-24. 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 Room. Copies of the 
filing also will be available for inspection and copying at the 
principal office of the Exchange. 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-PCX-2006-24 and should be submitted on or before May 4, 
2006. 
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    \12\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\12\
J. Lynn Taylor,
Assistant Secretary.
 [FR Doc. E6-5486 Filed 4-12-06; 8:45 am]

BILLING CODE 8010-01-P