Notices. Amendment 2

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BILLING CODE 7590-01-M SECURITIES AND EXCHANGE COMMISSION [Release No. 34-54162; File No. SR-FICC-2006-08] Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Removing References to Outdated EPN Reports July 17, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”), 1 notice is hereby given that on June 2, 2006, the Fixed Income Clearing Corporation (“FICC”) 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 primarily by FICC.

The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. 1 15 U.S.C. 78s(b)(1). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change will delete references to “Message Purge Report” and “Message Recovery Report” in FICC's Mortgage-Backed Securities Division's EPN rulebook. II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FICC 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. FICC has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. 2 2 The Commission has modified the text of the summaries prepared by FICC. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of the proposed rule change is to delete references to “Message Purge Report” and “Message Recovery Report” in FICC's Mortgage-Backed Securities Division's EPN rulebook because FICC no longer provides these reports to its members.

FICC believes that the proposed rule change is consistent with Section 17A of the Act 3 and the rules and regulations thereunder because it reflects a change in a service of FICC that does not adversely affect the safeguarding of securities or funds in the custody or control of FICC or for which it is responsible. 3 15 U.S.C. 78q-1. B. Self-Regulatory Organization's Statement on Burden on Competition FICC does not believe that the proposed rule change will have any impact or impose any burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others FICC has not solicited or received written comments relating to the proposed rule change. FICC will notify the Commission of any written comments it receives. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A)(iii) 4 of the Act and Rule 19b-4(f)(4) 5 thereunder because it effects a change in an existing service of FICC that does not adversely affect the safeguarding of securities or funds in FICC's control or for which FICC is responsible and does not significantly affect FICC's or its participants' respective rights or obligations.

At any time within 60 days of the filing of such 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. 4 15 U.S.C. 78s(b)(3)(A)(iii). 5 17 CFR 240.19b-4(f)(4). 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-FICC-2006-08 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 No.

SR-FICC-2006-08. 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 Section, 100 F Street, NE., Washington, DC 20549.

Copies of such filing also will be available for inspection and copying at FICC's principal office and on FICC's Web site at *http://www.ficc.com/gov/gov.docs.jsp?NS-query=* . 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 submission should refer to File No. SR-FICC-2006-08 and should be submitted on or before August 14, 2006.

For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 6 6 17 CFR 200.30-3(a)(12). Nancy M. Morris, Secretary. [FR Doc. E6-11680 Filed 7-21-06; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-54163; File No. SR-NSCC-2006-06] Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Relating to Enhancements to ACATS-Fund/SERV Processing Capabilities July 17, 2006.

Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”), 1 notice is hereby given that on May 30, 2006, the National Securities Clearing Corporation (“NSCC”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change described in Items I, II, and III below, which items have been prepared primarily by NSCC. NSCC filed the proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act 2 and Rule 19b-4(f)(4) thereunder 3 so that the proposal was effective upon filing with the Commission.

The Commission is publishing this notice to solicit comments on the proposed rule change from interested parties. 1 15 U.S.C. 78s(b)(1). 2 15 U.S.C. 78s(b)(3)(A)(iii). 3 17 CFR 240.19b-4(f)(4). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change would modify NSCC's Rules to enhance the Automated Customer Account Transfer Service (“ACATS”) processing capabilities for NSCC members that outsource some or all of their mutual fund processing services.

II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, NSCC 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. NSCC has prepared summaries, set forth in sections (A), (B), and

(C)below, of the most significant aspects of these statements. 4 4 The Commission has modified the text of the summaries prepared by NSCC.

(A)Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The proposed rule change would modify NSCC's Rules to enhance the ACATS processing capabilities for NSCC members that outsource some or all of their mutual fund processing services. ACATS enables members of NSCC to effect automated transfers of customer accounts among themselves. 5 In operation since 1985, ACATS was designed to facilitate compliance with New York Stock Exchange (“NYSE”) and National Association of Securities Dealers (“NASD”) rules that require NYSE and NASD members to use clearing agency automated customer account transfer services and to effect customer account transfers within specified time frames. 6 In 1989, ACATS was enhanced to permit the automated transfer of book share mutual fund assets for mutual funds associated with NSCC fund members and mutual fund processors (“ACATS-Fund/SERV”). In an account transfer containing eligible book share mutual fund assets, account reregistration information is routed from the NSCC member through ACATS to fund members through ACATS-Fund/SERV. 5 NSCC Rule 50. 6 NYSE Rule 412 and NASD Uniform Practice Code Section 11870. The Current Process In a standard ACATS transfer, the member receiving the customer account initiates the account transfer by electronically submitting data from the Transfer Initiation Form to NSCC. The account status then moves to “request” status, during which time the member delivering the customer account may validate the transfer by submitting to NSCC a detailed listing of the account assets or may reject the transfer. By submitting the asset listing, the delivering member acknowledges the transfer, and the status changes from “request” to “review.” During the review status, the receiving member examines the account/assets for creditworthiness, etc., while the delivering member reviews the account to ensure the assets are properly listed. If mutual fund assets are listed, the receiving member submits a fund registration input record through ACATS. The purpose of this record is to request that the delivering member reregister the mutual fund assets in the name of the receiving member. During this process, the account status then progresses to “sett prep.” At the beginning of sett prep, the fund registration input record is sent through ACATS-Fund/SERV to the delivering member which must either reject or acknowledge the reregistration request in accordance with the provisions of NSCC's Rules. During the sett prep stage, the account is frozen in ACATS ( *i.e.* , no adjustments or rejects are permitted) and the following business day the transfer status moves to “settle close,” and the account transfer settles. At this time, NSCC moves continuous net settlement (“CNS”)-eligible securities into CNS, and for all non-CNS-eligible positions (such as mutual fund assets) and cash balances, the asset value is debited to the delivering member and credited to the receiving member. Proposed Modification NSCC understands that a number of its members outsource or are seeking to outsource some or all of their mutual fund processing using the services of some third party such as another broker-dealer or a bank or trust company. NSCC believes that the outsourcing has or will cause processing issues with regard to mutual fund assets that are part of an ACATS transfer because it is the third party processing entity and not the NSCC receiving member that has or will have the direct contractual relationship with the delivering member. Currently, the NSCC receiving member (and not its third party processing entity) is identified on account transfer/registration instructions. Therefore, if the receiving member uses a third party processing entity, the delivering member will reject such request/instructions. In these instances, all transfers of customer positions in eligible mutual funds would need to be processed manually and affected members would be unable to benefit from the efficiency of automated transfers through ACATS. To accommodate these members, NSCC proposes modifying Section 16 of Rule 52 (Mutual Fund Services) to permit one NSCC member to appoint another NSCC member or a Mutual Fund/Insurance Services Member as its ACATS-Fund/SERV Agent with regard to the reregistration of eligible mutual fund assets. There will be no change to the ACATS process or to the requirements and obligations of ACATS receiving members and delivering members. An ACATS-Fund/SERV Agent must be another NSCC member or Mutual Fund/Insurance Services Member. An ACATS-Fund/SERV Agent may act on behalf of multiple NSCC members, but each member may designate only one ACATS-Fund/SERV Agent. A member must notify NSCC of its designation of an ACATS-Fund/SERV Agent in such form and within such timeframe as is acceptable to NSCC, and the ACATS-Fund/SERV Agent must acknowledge to NSCC its consent to this designation. The receiving member must acknowledge to NSCC that the receiving member shall at all times continue to be responsible for all provisions of NSCC's Rules, specifically with regard to ACATS and ACATS-Fund/SERV transactions, including any and all actions taken by its ACATS-Fund/SERV Agent. NSCC will maintain a relationship table of those members that designate an ACATS-Fund/SERV Agent. In instances where an ACATS-Fund/SERV Agent has been appointed, NSCC will substitute the receiving member's clearing number and member name on registration/transfer instructions transmitted to the delivering member with those of the ACATS-Fund/SERV Agent. Conversely, on acknowledgements/instructions from the delivering member, NSCC will replace the ACATS-Fund/SERV Agent's clearing number and member name with those of the receiving member. No additional ACATS or ACATS-Fund/SERV fees will be incurred in connection with this process. NSCC believes that the proposed rule change is consistent with the requirements of Section 17A of the Act 7 and the rules thereunder because it will further automate and facilitate the customer account transfer process, which can be expected to reduce processing errors and delays that are typically associated with manual processes. These changes would foster cooperation and coordination with persons engaged in account transfers and furthers the protection of investors and the public interest. 7 15 U.S.C. 78q-1.

(B)Self-Regulatory Organization's Statement on Burden on Competition NSCC does not believe that the proposed rule change would impose any burden on competition.

(C)Self-Regulatory Organization's Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others Written comments relating to the proposed rule change have not yet been solicited or received. NSCC will notify the Commission of any written comments received by NSCC. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(iii) of the Act 8 and Rule 19b-4(f)(4) 9 thereunder because the proposed rule effects a change in an existing service of NSCC that

(i)does not adversely affect the safeguarding of securities or funds in the custody or control of the clearing agency or for which it is responsible and

(ii)does not significantly affect the respective rights or obligations of the clearing agency or persons using the service. At any time within sixty days of the filing of such 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. 8 15 U.S.C. 78s(b)(3)(A)(i). 9 17 CFR 240.19b-4(f)(1). 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 Number SR-NSCC-2006-06 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-NSCC-2006-06. 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 Section, 100 F Street, NE., Washington, DC 20549. Copies of such filing also will be available for inspection and copying at the principal office of NSCC and on NSCC's Web site at *http://www.nscc.com* . 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-NSCC-2006-06 and should be submitted on or before August 14, 2006. For the Commission by the Division of Market Regulation, pursuant to delegated authority. 10 10 17 CFR 200.30-3(a)(12). Nancy M. Morris, Secretary. [FR Doc. E6-11681 Filed 7-21-06; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-54158; File No. SR-Phlx-2006-17] Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Order Granting Accelerated Approval of a Proposed Rule Change and Amendment Nos. 1 and 2 Thereto Relating to Listing Standards for Broad-Based Index Options July 17, 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 1, 2006, the Philadelphia Stock Exchange, Inc. (“Phlx” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change as described in Items I and II below, which Items have been prepared by the Phlx. On April 12, 2006, the Phlx filed Amendment No. 1 to the proposed rule change. 3 On July 14, 2006, the Phlx filed Amendment No. 2 to the proposed rule change. 4 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons and is approving the proposal on an accelerated basis. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 Amendment No. 1 replaced and superseded the original filing in its entirety. 4 In Amendment No. 2, the Phlx made technical and clarifying changes to the proposal. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend Phlx Rules 1000A (Applicability and Definitions), 1001A (Position Limits) and 1009A (Designation of the Index) to adopt “generic” listing standards pursuant to Rule 19b-4(e) under the Act 5 and position limits for broad-based index options. The text of the proposed rule change is available on the Phlx's Web site ( *http://www.phlx.com* ), at the Phlx's Office of the Secretary and at the Commission's Public Reference Room. 5 17 CFR 240.19b-4(e). 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 Phlx 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 III below. The Phlx 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 Phlx proposes to adopt Phlx Rule 1009A(d) to establish initial listing standards for broad-based index options. The proposal will allow the Phlx to list and trade, pursuant to Rule 19b-4(e) under the Act, 6 broad-based index options that meet the listing standards in Phlx Rule 1009A(d). The listing standards require, among other things, that the underlying index be broad-based, as defined in Phlx Rule 1000A(b)(11); 7 that options on the index be a.m.-settled; that the index be capitalization-weighted, price-weighted, modified capitalization-weighted, or equal dollar-weighted; and that the index be comprised of at least 50 securities, all of which must be “NMS stocks,” as defined in Rule 600 of Regulation NMS. 8 In addition, Phlx Rule 1009A(d) requires that the index's component securities meet certain minimum market capitalization and average daily trading volume requirements; that no single component account for more than 10% of the weight of the index and that the five highest weighted components represent no more than 33% of the weight of the index; that the index value be widely disseminated at least every 15 seconds; and that the Phlx have written surveillance procedures in place with respect to the index options. Phlx Rule 1009A(d) also provides that non-U.S. index components that are not subject to a comprehensive surveillance sharing agreement between the Phlx and the primary market(s) trading the index components may comprise no more than 20% of the weight of the index. The Phlx represents that its surveillance procedures are adequate to properly monitor the trading of broad-based index options and that it intends to apply its existing surveillance procedures for index options to monitor trading in broad-based index options listed pursuant to Phlx Rule 1009A(d). Additionally, the Exchange must reasonably believe that it has adequate system capacity to support the trading of any index options listed pursuant to Phlx Rule 1000A(d). 6 17 CFR 240.19b-4(e). 7 The Exchange is also proposing to amend Phlx Rule 1000A to clarify the definitions of broad-based (market) indexes as well as narrow-based (industry) indexes. 8 Rule 600 of Regulation NMS defines an “NMS stock” to mean “any NMS security other than an option.” An “NMS security” is “any security or class of securities for which transaction reports are collected, processed, and made available pursuant to an effective transaction reporting plan, or an effective national market system plan for reporting transactions in listed options.” *See* 17 CFR 242.600. For purposes of consistency, the Exchange is also proposing to amend Phlx Rule 1009A(b)(8), which indicates conditions that an underlying index must satisfy for the Exchange to list narrow-based index options pursuant to the generic Rule 19b-4(e) listing standards, to reference “NMS stock” as defined in Rule 600 of Regulation NMS under the Act. The Phlx also proposes to adopt Phlx Rule 1009A(e), which establishes maintenance standards for broad-based index options listed pursuant to Phlx Rule 1009A(d). In addition, the Phlx proposes to amend Phlx Rule 1001A(a) to establish a position limit of 25,000 contracts on the same side of the market for broad-based index options listed pursuant to Phlx Rule 1009A(d). 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act, 9 in general, and furthers the objectives of Section 6(b)(5) of the Act, 10 in particular, in that it is designed to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general to protect investors and the public interest. 9 15 U.S.C. 78f(b). 10 15 U.S.C. 78f(b)(5). 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 either solicited or received. III. 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 Number SR-Phlx-2006-17 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-Phlx-2006-17. 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 such filing also will be available for inspection and copying at the principal office of the Phlx. 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-Phlx-2006-17 and should be submitted on or before August 14, 2006. IV. Commission's Findings and Order Granting Accelerated Approval of the Proposed Rule Change After careful review, the Commission finds that the proposed rule change, as amended, is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange. 11 In particular, the Commission finds that the proposed rule change, as amended, is consistent with Section 6(b)(5) of the Act, 12 which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system and, in general, to protect investors and the public interest. 11 In approving this proposal, the Commission has considered the proposed rule's impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 12 15 U.S.C. 78f(b)(5). To list options on a particular broad-based index, the Phlx currently must file a proposed rule change with the Commission pursuant to Section 19(b)(1) of the Act and Rule 19b-4 thereunder. However, Rule 19b-4(e) provides that the listing and trading of a new derivative securities product by a self-regulatory organization (“SRO”) will not be deemed a proposed rule change pursuant to Rule 19b-4(c)(1) if the Commission has approved, pursuant to Section 19(b) of the Act, the SRO's trading rules, procedures, and listing standards for the product class that would include the new derivative securities product, and the SRO has a surveillance program for the product class. As described more fully above, the Phlx proposes to establish listing standards for broad-based index options. The Commission's approval of the Phlx's listing standards for broad-based index options will allow options that satisfy the listing standards to begin trading pursuant to Rule 19b-4(e), without constituting a proposed rule change within the meaning of Section 19(b) of the Act and Rule 19b-4, for which notice and comment and Commission approval is necessary. 13 The Phlx's ability to rely on Rule 19b-4(e) to list broad-based index options that meet the requirements of Phlx Rule 1009A(d) potentially reduces the time frame for bringing these securities to the market, thereby promoting competition and making new broad-based index options available to investors more quickly. 13 When relying on Rule 19b-4(e), the SRO must submit Form 19b-4(e) to the Commission within five business days after the SRO begins trading the new derivative securities product. See Securities Exchange Act Release No. 40761 (December 8, 1998), 63 FR 70952 (December 22, 1998) (File No. S7-13-98). The Commission notes that the Phlx has represented that it has adequate trading rules, procedures, listing standards, and surveillance program for broad-based index options. Phlx's existing index option trading rules and procedures will apply to broad-based index options listed pursuant to Phlx Rule 1009A(d). Other existing Phlx rules, including provisions addressing sales practices and margin requirements, also will apply to these options. In addition, the Phlx proposes to establish position and exercise limits of 25,000 contracts on the same side of the market for broad-based index options listed pursuant to Phlx Rule 1009A(d). 14 The Commission believes that the proposed position and exercise limits should serve to minimize potential manipulation concerns. 14 Under Phlx Rule 1002A, exercise limits for index option contracts are equivalent to the position limits described in Phlx Rule 1001A. The Phlx represents that its surveillance procedures are adequate to properly monitor the trading of broad-based index options and that it intends to apply its existing surveillance procedures for index options to monitor trading in broad-based index options listed pursuant to Phlx Rule 1009A(d). In addition, because Phlx Rule 1009A(d) requires that each component of an index be an “NMS stock,” as defined in Rule 600 of Regulation NMS under the Act, each index component must trade on a registered national securities exchange or through Nasdaq. 15 Accordingly, the Phlx will have access to information concerning trading activity in the component securities of an underlying index through the Intermarket Surveillance Group (“ISG”). 16 Phlx Rule 1009A(d) also provides that non-U.S. index components that are not subject to a comprehensive surveillance sharing agreement between the Phlx and the primary market(s) trading the index components may comprise no more than 20% of the weight of the index. 17 The Commission believes that these requirements will help to ensure that the Phlx has the ability to monitor trading in broad-based index options listed pursuant to Phlx Rule 1009A(d) and in the component securities of the underlying indexes. 15 Recently, the Commission approved The NASDAQ Stock Market LLC's application to become a registered national securities exchange. *See* Securities Exchange Act Release No. 53128 (January 13, 2006), 71 FR 3550 (January 23, 2006). At the time of the Commission's consideration of this matter, The NASDAQ Stock Market is still operating as a subsidiary of the National Association of Securities Dealers (“NASD”), a registered national securities association. 16 The ISG was formed on July 14, 1983, to, among other things, coordinate more effectively surveillance and investigative information sharing arrangements in the stock and options markets. All of the registered national securities exchanges and NASD are members of the ISG. In addition, futures exchanges and non-U.S. exchanges and associations are affiliate members of the ISG. 17 However, such non-U.S. index components, as “NMS stocks,” would be registered under Section 12 of the Act and listed and traded on a national securities exchange or Nasdaq, where there is last sale reporting. The Commission believes that the requirements in Phlx Rule 1009A(d) regarding, among other things, the minimum market capitalization, trading volume, and relative weightings of an underlying index's component stocks are designed to ensure that the markets for the index's component stocks are adequately capitalized and sufficiently liquid, and that no one stock dominates the index. In addition, Phlx Rule 1009A(d) requires that the underlying index be “broad-based,” as defined in Phlx Rule 1000A(b)(11). 18 The Commission believes that these requirements minimize the potential for manipulating the underlying index. 18 Phlx Rule 1000A(b)(11) defines “broad-based index” to mean “an index designed to be representative of a stock market as a whole or of a range of companies in unrelated industries.” The Commission believes that the requirement in Phlx Rule 1009A(d) that the current index value be widely disseminated at least once every 15 seconds by one or more major market data vendors 19 during the time an index option trades on the Phlx should provide transparency with respect to current index values and contribute to the transparency of the market for broad-based index options. In addition, the Commission believes, as it has noted in other contexts, that the requirement in Phlx Rule 1009A(d) that an index option be settled based on the opening prices of the index's component securities, rather than on closing prices, could help to reduce the potential impact of expiring index options on the market for the index's component securities. 20 19 The Phlx stated that “ ‘[m]ajor market data vendor’ for the purposes of Phlx Rule 1009A(d)(11) includes, but is not limited to, the Options Price Reporting Authority, the Consolidated Tape Association (administers the Consolidated Tape and Consolidated Quotation Plans), Nasdaq Index Dissemination Service, and securities information vendors such as Bloomberg and Reuters.” 20 *See, e.g.* , Securities Exchange Act Release No. 30944 (July 21, 1992), 57 FR 33376 (July 28, 1992) (order approving a Chicago Board Options Exchange, Incorporated (“CBOE”) proposal to establish opening price settlement for S&P 500 Index options). The Commission finds good cause for approving the proposed rule change, as amended, prior to the 30th day after the date of publication of the notice of filing in the **Federal Register** . The Exchange has requested accelerated approval of the proposed rule change. The proposal implements listing and maintenance standards and position and exercise limits for broad-based index options substantially identical to those recently approved for the International Securities Exchange, Inc., the American Stock Exchange LLC and the CBOE. 21 The Commission does not believe that the Exchange's proposal raises any novel regulatory issues. Therefore, the Commission finds good cause, consistent with Section 19(b)(2) of the Act, 22 to approve the proposed rule change, as amended, on an accelerated basis. 21 *See* Securities Exchange Act Release Nos. 52578 (October 7, 2005), 70 FR 60590 (October 18, 2005) (SR-ISE-2005-27); 52781 (November 16, 2005), 70 FR 70898 (November 23, 2005) (SR-Amex-2005-069); and 53266 (February 9, 2006), 71 FR 8321 (February 16, 2006) (SR-CBOE-2005-59). 22 15 U.S.C. 78s(b)(2). V. Conclusion It is therefore ordered, pursuant to Section 19(b)(2) of the Act, 23 that the proposed rule change (SR-Phlx-2006-17), as amended, is hereby approved on an accelerated basis. 23 *Id.* For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 24 24 17 CFR 200.30-3(a)(12). Nancy M. Morris, Secretary. [FR Doc. E6-11682 Filed 7-21-06; 8:45 am] BILLING CODE 8010-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10528] California Disaster # CA-00034 Declaration of Economic Injury AGENCY: Small Business Administration. ACTION: Amendment 2. SUMMARY: This is an amendment of the Economic Injury Disaster Loan

(EIDL)declaration for the State of California Disaster #CA-00034 dated 07/06/2006. *Incident:* Fishery Resource Disaster. *Incident Period:* 05/01/2006 through 08/31/2006. *Effective Date:* 07/13/2006. *EIDL Loan Application Deadline Date:* 04/06/2007. ADDRESSES: Submit completed loan applications to: Small Business Administration, National Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the Economic Injury Disaster Loan declaration for the fishery resource disaster under 308(b) of Interjurisdictional Fisheries Act of 1986, as amended, to help West Coast fishing communities in Oregon and California as determined by the Secretary of Commerce, is hereby amended to correct the incident period. The incident period is 05/01/2006 through 08/31/2006. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E6-11620 Filed 7-21-06; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10527] Oregon Disaster # OR-00013 Declaration of Economic Injury AGENCY: Small Business Administration. ACTION: Amendment 2. SUMMARY: This is an amendment of the Economic Injury Disaster Loan

(EIDL)declaration for the State of Oregon Disaster # OR-00013 dated 07/06/2006. *Incident:* Fishery Resource Disaster. *Incident Period:* 05/01/2006 through 08/31/2006. *Effective Date:* 07/13/2006. *EIDL Loan Application Deadline Date:* 04/06/2007. ADDRESSES: Submit completed loan applications to: Small Business Administration, National Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155. FOR FURTHER INFORMATION CONTACT: A. Escobar, Office of Disaster Assistance, U.S. Small Business Administration, 409 3rd Street, SW., Suite 6050, Washington, DC 20416. SUPPLEMENTARY INFORMATION: The notice of the Economic Injury Disaster Loan declaration for the fishery resource disaster under 308(b) of Interjurisdictional Fisheries Act of 1986, as amended, to help West Coast fishing communities in Oregon and California as determined by the Secretary of Commerce, is hereby amended to correct the incident period. The incident period is 05/01/2006 through 08/31/2006. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E6-11639 Filed 7-21-06; 8:45 am] BILLING CODE 8025-01-P DEPARTMENT OF STATE [Public Notice 5473] Culturally Significant Objects Imported for Exhibition Determinations: “Enduring Myth: The Tragedy of Hippolytos & Phaidra” *Summary:* Notice is hereby given of the following determinations: Pursuant to the authority vested in me by the Act of October 19, 1965 (79 Stat. 985; 22 U.S.C. 2459), Executive Order 12047 of March 27, 1978, the Foreign Affairs Reform and Restructuring Act of 1998 (112 Stat. 2681, *et seq.* ; 22 U.S.C. 6501 note, *et seq.* ), Delegation of Authority No. 234 of October 1, 1999, Delegation of Authority No. 236 of October 19, 1999, as amended, and Delegation of Authority No. 257 of April 15, 2003 [68 FR 19875], I hereby determine that the object to be included in the exhibition “Enduring Myth: The Tragedy of Hippolytos & Phaidra,” imported from abroad for temporary exhibition within the United States, is of cultural significance. The object is imported pursuant to a loan agreement with the foreign owner or custodian. I also determine that the exhibition or display of the object at The J. Paul Getty Museum, Malibu, California, from on or about August 24, 2006, until on or about December 4, 2006, and at possible additional venues yet to be determined, is in the national interest. Public Notice of these Determinations is ordered to be published in the **Federal Register** . *For Further Information Contact:* For further information, including a list of the exhibit objects, contact Richard Lahne, Attorney-Adviser, Office of the Legal Adviser, U.S. Department of State (telephone: 202/453-8058). The address is U.S. Department of State, SA-44, 301 4th Street, SW., Room 700, Washington, DC 20547-0001. Dated: July 14, 2006. C. Miller Crouch, Principal Deputy Assistant Secretary for Educational and Cultural Affairs, Department of State. [FR Doc. E6-11725 Filed 7-21-06; 8:45 am] BILLING CODE 4710-05-P DEPARTMENT OF STATE [Public Notice 5470] United States Climate Change Technology Program The United States Climate Change Technology Program requests expert review of the Working Group III contribution (“Climate Change 2007: Mitigation of Climate Change”) to the Intergovernmental Panel on Climate Change Fourth Assessment Report. The Intergovernmental Panel on Climate Change

(IPCC)was established by the United Nations Environment Programme

(UNEP)and the World Meteorological Organization

(WMO)in 1988. In accordance with its mandate and as reaffirmed in various decisions by the Panel, the major activity of the IPCC is to prepare comprehensive and up-to-date assessments of policy-relevant scientific, technical, and socio-economic information relevant for understanding the scientific basis of climate change, potential impacts, and options for mitigation and adaptation. The First Assessment Report was completed in 1990, the Second Assessment Report in 1995, and the Third Assessment Report in 2001. Three working group volumes and a synthesis report comprise the Fourth Assessment Report, with all to be finalized in 2007. Working Group I assesses the scientific aspects of the climate system and climate change; Working Group II assesses the vulnerability of socio-economic and natural systems to climate change, potential negative and positive consequences, and options for adapting to it; and Working Group III assesses options for limiting greenhouse gas emissions and otherwise mitigating climate change. These assessments are based upon the peer-reviewed literature and are characterized by an extensive and open review process involving both scientific/technical experts and governments before being accepted by the IPCC. The IPCC Secretariat has informed the U.S. Department of State that the second-order draft of the Working Group III contribution to the Fourth Assessment Report is available for Expert and Government Review. The Climate Change Technology Program

(CCTP)office is coordinating collection of U.S. expert comments and the review of these collations by panels of Federal scientists and program managers to develop a consolidated U.S. Government submission. Instructions on how to format comments are available at *http://www.climatetechnology.gov/library/ipcc/wg3-4ar-review.htm,* as is the document itself and other supporting materials. If you choose to submit comments for potential inclusion or consideration as part of the U.S. Government review, please do not send the same set of comments to the IPCC WGIII Technical Support Unit. Properly formatted comments should be sent to *wg3-4AR-USGreview@climatetechnology.gov* by close of business, Wednesday, 23 August 2006 to be considered for inclusion in the U.S. Government collation. Include “IPCC WGIII” and reviewer surname in the e-mail subject title to facilitate processing. For further information, please contact Michael Curtis, U.S. Climate Change Technology Program, U.S. Department of Energy, Office of Policy and International Affairs, 1000 Independence Ave., SW., Washington, DC 20585 ( *CCTPinfo@climatetechnology.gov* ). Dated: July 17, 2006. Trigg Talley, Office Director, Acting, Office of Global Change, Bureau of Oceans and International Environmental and Scientific Affairs, Department of State. [FR Doc. E6-11733 Filed 7-21-06; 8:45 am] BILLING CODE 4710-09-P DEPARTMENT OF TRANSPORTATION Office of the Secretary Aviation Proceedings, Agreements Filed the Week Ending July 7, 2006 The following Agreements were filed with the Department of Transportation under the sections 412 and 414 of the Federal Aviation Act, as amended (49 U.S.C. 1382 and 1384) and procedures governing proceedings to enforce these provisions. Answers may be filed within 21 days after the filing of the application. *Docket Number:* OST-2006-25313. *Date Filed:* July 3, 2006. *Parties:* Members of the International Air Transport Association. *Subject:* Mail Vote 496—Resolution 010u, Special Passenger Amending from Thailand to Africa, Middle East (Memo 0304) and (Memo 0294). Intended effective date: July 13, 2006. *Docket Number:* OST-2006-25316. *Date Filed:* July 5, 2006. *Parties:* Members of the International Air Transport Association. *Subject:* TC12 North Atlantic Canada-Europe, Expedited Resolution 002cj (Memo 0121). Intended effective Date: September 1, 2006. *Docket Number:* OST-2006-25319. *Date Filed:* July 5, 2006. *Parties:* Members of the International Air Transport Association. *Subject:* TC12 North Atlantic USA-Europe and Mail Vote 492 (except Austria, Belgium, Czech Republic, Finland, France, Germany, Iceland, Italy, Netherlands, Scandinavia, Switzerland) (Memo 0194). Intended effective date: September 1, 2006. Renee V. Wright, Program Manager, Docket Operations, Federal Register Liaison. [FR Doc. E6-11696 Filed 7-21-06; 8:45 am] BILLING CODE 4910-9X-P DEPARTMENT OF TRANSPORTATION Office of the Secretary Notice of Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits Filed Under Subpart B (Formerly Subpart Q) During the Week Ending July 7, 2006 The following Applications for Certificates of Public Convenience and Necessity and Foreign Air Carrier Permits were filed under Subpart B (formerly Subpart Q) of the Department of Transportation's Procedural Regulations (See 14 CFR 301.201 *et seq.* ). The due date for Answers, Conforming Applications, or Motions to Modify Scope are set forth below for each application. Following the Answer period DOT may process the application by expedited procedures. Such procedures may consist of the adoption of a show-cause order, a tentative order, or in appropriate cases a final order without further proceedings. *Docket Number:* OST-2006-25318. *Date Filed:* July 5, 2006. *Due Date for Answers, Conforming Applications, or Motion to Modify Scope:* July 26, 2006. *Description:* Application of ANA & JP Express Co., Ltd., requesting a foreign air carrier permit

(a)to engage in scheduled foreign air transportation of property and mail between any point or points in Japan, on the one hand, and Chicago, IL (via a technical stop at Anchorage), on the other hand, and

(b)to engage in charter foreign air transportation of property and mail between any point or points in Japan and any point or points in the United States and to provide other charters pursuant to the Department's charter regulations. AJV requests that the Department process this Application under the simplified non-hearing procedures specified in Subpart B of Part 302 of the Department's regulations. Renee V. Wright, Program Manager, Docket Operations, Federal Register Liaison. [FR Doc. E6-11695 Filed 7-21-06; 8:45 am] BILLING CODE 4910-9X-P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration Approval of Noise Compatibility Program for Harrisburg International Airport, Middletown, PA AGENCY: Federal Aviation Administration, DOT. ACTION: Notice. SUMMARY: The Federal Aviation Administration

(FAA)announces its findings on the noise compatibility program submitted by the Susquehanna Area Regional Airport Authority (SARAA) under the provisions of Title I of the Aviation Safety and Noise Abatement Act, as amended, (Public Law 96-193) (hereinafter referred to as “the Act”) and 14 CFR Part 150. These findings are made in recognition of the description of Federal and nonfederal responsibilities in Senate Report No. 96-52 (1980). On January 13, 2006, the FAA determined that the noise exposure maps submitted by the SARAA under part 150 were in compliance with applicable requirements. EFFECTIVE DATES: The effective date of the FAA's approval of the Noise Compatibility Program is July 7, 2006. FOR FURTHER INFORMATION CONTACT: Edward S. Gabsewics, CEP, Environmental Protection Specialist, Federal Aviation Administration, Harrisburg Airports District Office, 3905 Hartzdale Drive, Suite 508, Camp Hill, PA 17011, Telephone 717-730-2932. Documents reflecting this FAA action may be reviewed at this same location. SUPPLEMENTARY INFORMATION: This notice announces that the FAA has given its overall approval to the Noise Compatibility Program for the Harrisburg International Airport, effective July 7, 2006. Under section 104(a) of the Aviation Safety and Noise Abatement Act of 1979, as amended (herein after referred in as the “Act”) [recodified as 49 USC Section 47504], an airport operator who has previously submitted a Noise Exposure Map may submit to the FAA a Noise Compatibility Program which sets forth the measures taken or proposed by the airport operator for the reduction of existing non-compatible land uses and prevention of additional non-compatible land uses within the area covered by the Noise Exposure Maps. The Act requires such programs to be developed in consultation with interested and affected parties including local communities, government agencies, airport users, and FAA personnel. Each airport noise compatibility program developed in accordance with Federal Aviation Regulations

(FAR)Part 150 is a local program, not a Federal program. The FAA does not substitute its judgment for that of the airport proprietor with respect to which measures should be recommended for action. The FAA's approval or disapproval of FAR part 150 program recommendations is measured according to the standards expressed in Part 150 and the Act and is limited to the following determinations: a. The Noise Compatibility Program was developed in accordance with the provisions and procedures of FAR Part 150; b. Program measures are reasonably consistent with achieving the goals of reducing existing non-compatible land uses around the airport and preventing the introduction of additional non-compatible land uses; c. Program measures would not create an undue burden on interstate or foreign commerce, unjustly discriminate against types or classes of aeronautical uses, violate the terms of airport grant agreements, or intrude into areas preempted by the Federal Government; and d. Program measures relating to the use of flight procedures can be implemented within the period covered by the program without derogating safety, adversely affecting the efficient use and management of the navigable airspace and air traffic control systems, or adversely affecting other powers and responsibilities of the Administrator prescribed by law. Specific limitations with respect to FAA's approval of an airport noise compatibility program are delineated in FAR part 150, section 150.5. Approval is not a determination concerning the acceptability of land uses under Federal, state, or local law. Approval does not by itself constitute an FAA implementing action. A request for Federal action or approval to implement specific noise compatibility measures may be required, and an FAA decision on the request may require an environmental assessment of the proposed action. Approval does not constitute a commitment by the FAA to financially assist in the implementation of the program nor a determination that all measures covered by the program are eligible for grant-in-aid funding from the FAA under the Airport and Airway Improvement Act of 1982, as amended. Where Federal funding is sought, requests for project grants must be submitted to the FAA Airports District Office in Camp Hill, Pennsylvania. The SARAA submitted to the FAA on December 16, 2005, the Noise Exposure Maps, descriptions, and other documentation produced during the noise compatibility planning study conducted from mid-2003 to December 2005. The Harrisburg International Airport's Noise Exposure Maps were determined by FAA to be in compliance with applicable requirements on January 13, 2006. Notice of this determination was published in the **Federal Register** on January 31, 2006. The Harrisburg International Airport study contains a proposed noise compatibility program comprised of actions designed for phased implementation by airport management and adjacent jurisdictions from 2004 to beyond 2010. It was requested that the FAA evaluate and approve this material as a Noise Compatibility Program as described in 49 U.S.C. Section 47504 (formerly Section 104(b) of the Act). The FAA began its review of the program on January 13, 2006 and was required by a provision of the Act to approve or disapprove the program within 180 days (other than the use of new or modified flight procedures for noise control). Failure to approve or disapprove such program within the 180-day period shall be deemed to be an approval of such program. The submitted program contained ten proposed actions for noise mitigation (one more abatement measure, six land use measures, and three program management measures). The FAA completed its review and determined that the procedural and substantive requirements of the Act and FAR Part 150 have been satisfied. The overall program was approved by the FAA effective July 7, 2006. Approval was granted for all ten of the ten specific program measures. The approved measures include: Encourage noise-attenuating standards in airport development; Amend local comprehensive plans by adopting the Part 150 Noise Compatibility Plan as their noise compatibility elements; Adopt guidelines for discretionary review of development projects; Adopt noise overlay zoning to prohibit development of selected noise-sensitive land uses within the Future

(2010)NEM 65+ DNL noise contour; Encourage local jurisdictions not to allow an increase in residential density in the residential or agricultural zoning districts within the Future

(2010)NEM 65+ DNL noise contour; Develop and implement a voluntary residential acquisition program within the Future

(2010)NEM 65+ noise contour; Initiate a formal study (study only) to evaluate the noise levels at various churches located within the Future

(2010)NEM/NCP 65+ DNL noise contour for eligibility for sound insulation (eligibility based on FAA funding criteria); Establish a Noise Abatement Advisory Committee; Establish a pilot/community awareness program; and Update the Noise Exposure Maps and Noise Compatibility Program. These determinations are set forth in detail in a Record of Approval signed by the Acting Associate Administrator for Airports on July 7, 2006. The Record of Approval, as well as other evaluation materials and the documents comprising the submittal, are available for review at the following offices: Federal Aviation Administration Harrisburg Airports District Office, 3905 Hartzdale Drive, Suite 508, Camp Hill, PA 17011 and Susquehanna Area Regional Airport Authority, Harrisburg International Airport, One Terminal Drive, Suite 300, Middletown, PA 17057. The Record of Approval also will be available online at *http://www.faa.gov/arp/environmental/14cft150/index14.cfm* . Issued in Camp Hill, Pennsylvania, July 11, 2006. Wayne T. Heibeck, Manager, Harrisburg Airports District Office. [FR Doc. 06-6424 Filed 7-21-06; 8:45 am]

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