Notices. Notice
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BILLING CODE 7710-12-M SECURITIES AND EXCHANGE COMMISSION Submission for OMB Review; Comment Request *Upon written request; copies available from:* Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. *Extension:* Rules 7a-15 thru 7a-37; OMB Control No. 3235-0132; SEC File No. 270-115. Notice is hereby given that, pursuant to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 *et seq.* ) the Securities and Exchange Commission (“Commission”) has submitted to the Office of Management and Budget this request for extension of the previously approved collection of information discussed below.
Rules 7a-15 through 7a-37 (17 CFR 260.7a-15-7a-37) under the Trust Indenture Act of 1939 set forth the general requirements relating to applications, statements and reports that must be filed under the Act by issuers and trustees qualifying indentures under that Act for offerings of debt securities. The respondents are persons and entities subject to the Trust Indenture Act requirements. Rules 7a-15 through 7a-37 are disclosure guidelines and do not directly result in any collection of information.
The Rules are assigned only one burden hour for administrative convenience. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid control number. Written comments regarding the above information should be directed to the following persons:
(i)Desk Officer for the Securities and Exchange Commission, Office of Information and Regulatory Affairs, Office of Management and Budget, Room 10102, New Executive Office Building, Washington, DC 20503; or send an e-mail to *David_Rostker@omb.eop.gov* ; and
(ii)R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312; or send an e-mail to: *PRA_Mailbox@sec.gov* . Comments must be submitted to OMB within 30 days of this notice. Dated: May 7, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-9175 Filed 5-11-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION Proposed Collection; Comment Request *Upon written request, copies available from:* Securities and Exchange Commission, Office of Filings and Information Services, Washington, DC 20549. *Extension:* Rule 6a-4; SEC File No. 270-496; OMB Control No. 3235-0554. Notice is hereby given that pursuant to the Paperwork Reduction Act of 1995, 1 the Securities and Exchange Commission (“Commission”) is soliciting comments on the collection of information summarized below. The Commission plans to submit this existing collection of information to the Office of Management and Budget for extension and approval. 1 44 U.S.C. 3501 *et seq.* Section 6 of the Securities Exchange Act of 1934 (“Act”) 2 sets out a framework for the registration and regulation of national securities exchanges. Under the Commodity Futures Modernization Act of 2000, a futures market may trade security futures products by registering as a national securities exchange. Rule 6a-4 3 sets forth these registration procedures and directs futures markets to submit a notice registration on Form 1-N. Form 1-N calls for information regarding how the futures market operates, its rules and procedures, its criteria for membership, its subsidiaries and affiliates, and the security futures products it intends to trade. Rule 6a-4 also would require entities that have submitted an initial Form 1-N to file:
(1)Amendments to Form 1-N in the event of material changes to the information provided in the initial Form 1-N;
(2)periodic updates of certain information provided in the initial Form 1-N;
(3)certain information that is provided to the futures market's members; and
(4)a monthly report summarizing the futures market's trading of security futures products. The information required to be filed with the Commission pursuant to Rule 6a-4 is designed to enable the Commission to carry out its statutorily mandated oversight functions and to ensure that registered and exempt exchanges continue to be in compliance with the Act. 2 15 U.S.C. 78f. 3 17 CFR 240.6a-4. The respondents to the collection of information are futures markets. The Commission estimates that the total annual burden for all respondents to provide the amendments and periodic updates under Rule 6a-4 would be 105 hours (15 hours/respondent per year × seven respondents) and $10,066 ($1438/response × seven responses/year). The Commission estimates that the total annual burden for the filing of the supplemental information and the monthly reports required under Rule 6a-4 would be 87.5 hours (25 filings/respondent × seven respondents × 0.5 hours/response). The SEC estimates that the total annual cost for all supplemental filings would be $3675 (25 filings/respondent per year × seven respondents × $21/response). Written comments are invited on:
(a)Whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility;
(b)the accuracy of the agency's estimate of the burden of the proposed collection of information;
(c)ways to enhance the quality, utility, and clarity of the information to be collected; and
(d)ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Consideration will be given to comments and suggestions submitted in writing within 60 days of this publication. Comments should be directed to: R. Corey Booth, Director/Chief Information Officer, Securities and Exchange Commission, C/O Shirley Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-mail to: *PRA_Mailbox@sec.gov* . Comments must be submitted within 60 days of this notice. Dated: May 7, 2007. Florence E. Harmon, Deputy Secretary. [FR Doc. E7-9180 Filed 5-11-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-55719; File No. SR-Amex-2006-17] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Amendment Nos. 3 and 4 Relating to Procedures for At-Risk Cross Transactions May 7, 2007. On February 17, 2006, the American Stock Exchange LLC (“Amex” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”) 1 and Rule 19b-4 thereunder, 2 a proposed rule change to adopt a new crossing procedure, the “at-risk cross,” as an alternative to the Exchange's existing facilitation cross procedure. On November 9, 2006, the Exchange filed Amendment No. 1 to the proposed rule change, and on December 1, 2006, the Exchange filed Amendment No. 2 to the proposed rule change. The proposed rule change, as modified by Amendment Nos. 1 and 2, was published for comment in the **Federal Register** on January 17, 2007. 3 On March 28, 2007, the Exchange filed Amendment No. 3 to the proposed rule change, and on May 3, 2007, the Exchange filed Amendment No. 4 to the proposed rule change. Amendment Nos. 3 and 4 are described in Item II below. The Commission is publishing this notice to solicit comments on the proposed rule change, as amended by Amendment Nos. 3 and 4, from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 55068 (January 9, 2007), 72 FR 2044 (“Notice”). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Amex proposes to revise the procedures applicable to cross transactions in equity options to provide procedures for at-risk cross transactions. The text of the proposed rule change is available at the Amex, on the Amex's Web site at *http://amex.com* , 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 Amex 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. A. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to provide an alternative crossing procedure to supplement the existing facilitation cross procedure in Commentary .02 to Amex Rule 950-ANTE(d). In this manner, the Amex would permit “at-risk” cross transactions by member firms. A complete description and statement of purpose of the proposed rule change, as modified by Amendment Nos. 1 and 2, may be found in the notice of filing previously published for comment in the **Federal Register** . 4 4 *See* Notice, *supra* note 3. In Amendment No. 3, the Exchange made technical and clarifying changes to the proposal 5 and stated that the proposed at-risk cross procedure would not apply to options classes that are part of the Exchange's options penny pilot program. 6 In Amendment No. 4, the Exchange proposes to allow the proposed at-risk crossing procedure to apply to options classes that are part of the options penny pilot program. 7 5 Specifically, the Exchange made a clarifying change to the language of Commentary .03(vii) to Amex Rule 950-ANTE(d). The Exchange also confirmed that if a public customer order either on the book or represented in the trading crowd has priority over the at-risk cross, the member firm would be permitted to participate only in those contracts remaining after the public customer's order has been filled. Further, the Exchange represented that if there is a public customer order on the book or represented in the trading crowd on the same side of the market as, and priced at or better than, the public customer order that is part of the at-risk cross, the public customer order on the book or represented in the trading crowd would have priority. 6 *See* Securities Exchange Act Release No. 55162 (January 24, 2007), 72 FR 4738 (February 1, 2007) (SR-Amex-2006-106). 7 In addition, Amendment No. 4 makes non-substantive rule text changes and shows the text of the final proposal as marked against the current text of Amex Rule 950-ANTE(d). 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6 of the Act 8 in general and furthers the objectives of Section 6(b)(5) 9 in particular in that it is designed to perfect the mechanisms of a free and open market and the national market system, protect investors and the public interest, to foster cooperation and coordination with persons engaged in facilitating transactions in securities and promote just and equitable principles of trade. 8 15 U.S.C. 78f(b). 9 15 U.S.C. 78f(b)(5). B. Self-Regulatory Organization's Statement on Burden on Competition The proposed rule change will impose no 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 by the Exchange on this proposal. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the **Federal Register** or within such longer period
(i)as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or
(ii)as to which the Exchange consents, the Commission will:
(A)By order approve such proposed rule change, or
(B)Institute proceedings to determine whether the proposed rule change should be disapproved. 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-Amex-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-Amex-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 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-Amex-2006-17 and should be submitted on or before May 29, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 10 10 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-9176 Filed 5-11-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-55724; File No. SR-CBOE-2007-39] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing of Proposed Rule Change Regarding Penny Price Improvement May 8, 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 April 24, 2007, the Chicago Board Options Exchange, Incorporated (“CBOE” 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 CBOE. 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). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The CBOE proposes to amend its Rules regarding penny price improvement for options not currently quoted in one-cent increments. The text of the proposed rule change is set forth below. Proposed new language is *italicized;* and proposed deletions are [bracketed]. Rule 6.13B. Penny Price Improvement *The Exchange may designate one or more options trading on the Hybrid System for inclusion in the Penny Price Improvement Program. Under this program, the Exchange will allow all users to provide price improvement beyond the Exchange's disseminated quotation (“Penny Pricing”) for classes or series that are not already quoted in one-cent increments and for which the Simple Auction Liaison system in Rule 6.13A is not in effect.* *(a) Electronic Penny Pricing. Electronic penny prices may be established as follows:* *
(1)Market-Makers. Market-Makers may electronically provide the Exchange with indications of interest that are superior to their own quotations in increments no smaller than one-cent. Such indications shall be firm for all interest received by the Exchange. The Exchange shall disseminate such interest using standard quoting increments by rounding the limit price to the nearest standard quoting increment that does not violate the limit price. * *(2) Orders. Public Customers and all other users may electronically submit to the Exchange orders priced in one-cent increments. The Exchange shall disseminate such orders using standard quoting increments by rounding the limit price to the nearest standard quoting increment that does not violate the limit price.* *All Penny Pricing submitted pursuant to
(1)or
(2)above shall be filed by the System for order allocation purposes but shall not be visible. The Exchange may append an indicator to its disseminated quotation to indicate the existence of Penny Pricing in the relevant side of a series when it exists, but no information regarding the price and size of the Penny Pricing shall be made available.* *If an order is received by the Hybrid System that could trade against Penny Pricing and where the Exchange's disseminated quotation is the NBBO, it will automatically execute against the Penny Pricing pursuant to the Exchange's normal allocation procedures.* *(b) Open Outcry Penny Pricing. Oral bids (offers) provided by in-crowd market participants may be expressed in one-cent increments in response to an order represented in open outcry provided that:
(1)The oral bids (offers) better the corresponding bid (offer) in the Exchange's disseminated quotation; and
(2)any resulting transaction(s) is consistent with the requirements of Rule 6.83.* *The appropriate Procedure Committee may also determine on a class-by-class basis to make the split-price priority provisions of Rule 6.47 applicable to a class that is subject to Penny Pricing under this rule.* *For purposes of this rule, “in-crowd market participants” includes in-crowd Market-Makers, an in-crowd DPM or LMM, and Floor Brokers or PAR Officials representing orders in the trading crowd.* *(c) Prior to effecting any transactions in open outcry in one-cent increments, Exchange members must electronically “sweep” any Penny Pricing interest in the Hybrid System so as not to violate the priority of such Penny Pricing.* *(d) All pronouncements regarding the applicability of this rule will be announced to the membership via Regulator Circular.* Rule 6.45 Priority of Bids and Offers—Allocation of Trades Except as provided by Rules, including but not limited to Rule 6.2A, 6.8, 6.9, 6.13, *6.13B* , 6.45A, [Rule] 6.47, [Rule] 6.74, [Rule] 8.87 and [CBOE] *Exchange* Regulatory Circulars approved by the [SEC] *Commission* concerning Participation *Entitlements* [Rights], the following rules of priority shall be observed with respect to bids and offers: (a)-(e) No change. * * * Interpretations and Policies: .01-.02 No change. Rule 6.45A Priority and Allocation of Equity Option Trades on the CBOE Hybrid System 6.45A Generally: No change. (a)-(e) No change. * * * Interpretations and Policies: .01 Principal Transactions: Order entry firms may not execute as principal against orders they represent as agent unless:
(i)Agency orders are first exposed on the Hybrid System for at least three
(3)seconds,
(ii)the order entry firm has been bidding or offering for at least
(3)seconds prior to receiving an agency order that is executable against such bid or offer, or
(iii)the order entry firm proceeds in accordance with the crossing rules contained in Rule 6.74. *This paragraph also shall apply to orders resting on the Hybrid System in penny increments pursuant to Rule 6.13B. In such cases, agency orders priced in penny increments are deemed “exposed” pursuant to
(i)above, and order entry firm orders priced in penny increments are deemed bids or offers pursuant to
(ii)above* . .02 Solicitation Orders. Order entry firms must expose orders they represent as agent for at least three
(3)seconds before such orders may be executed electronically via the electronic execution mechanism of the Hybrid System, in whole or in part, against orders solicited from members and non-member broker-dealers to transact with such orders. *This paragraph also shall apply to agency orders resting on the Hybrid System in penny increments pursuant to Rule 6.13B. In such cases, agency orders priced in penny increments are deemed “exposed” pursuant to this paragraph* . Rule 6.45B Priority and Allocation of Trades in Index Options and Options on ETFs on the CBOE Hybrid System 6.45B Generally: No change. (a)-(d) No change. * * * Interpretations and Policies: .01 Principal Transactions: Order entry firms may not execute as principal against orders they represent as agent unless:
(i)Agency orders are first exposed on the Hybrid System for at least three
(3)seconds,
(ii)the order entry firm has been bidding or offering for at least
(3)seconds prior to receiving an agency order that is executable against such bid or offer, or
(iii)the order entry firm proceeds in accordance with the crossing rules contained in Rule 6.74. *This paragraph also shall apply to orders resting on the Hybrid System in penny increments pursuant to Rule 6.13B. In such cases, agency orders priced in penny increments are deemed “exposed” pursuant to
(i)above, and order entry firm orders priced in penny increments are deemed bids or offers pursuant to
(ii)above* . .02 Solicitation Orders. Order entry firms must expose orders they represent as agent for at least three
(3)seconds before such orders may be executed electronically via the electronic execution mechanism of the Hybrid System, in whole or in part, against orders solicited from members and non-member broker-dealers to transact with such orders. *This paragraph also shall apply to agency orders resting on the Hybrid System in penny increments pursuant to Rule 6.13B. In such cases, agency orders priced in penny increments are deemed “exposed” pursuant to this paragraph* . Rule 6.47. Priority on Split-Price Transactions Occurring in Open Outcry (a)-(c) No change. * * * Interpretations and Policies: .01 No change. .02 *The availability of split-price priority when an order is executed in a one-cent increment pursuant to Rule 6.13B shall be determined in accordance with Rule 6.13B(b)* . Rule 6.74. Crossing Orders (a)-(f) No change. * * * Interpretations and Policies: .01-.08 No change. *.09 For purposes of paragraphs (a), (b), and (d), the minimum increment for bids and offers shall be one cent for orders that are subject to the open outcry penny price improvement under Rule 6.13B. Open outcry penny price improvement under Rule 6.13B shall not be available for orders executed pursuant to paragraphs
(c)and (f)* . II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, CBOE 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 purpose of this filing is to allow Exchange users the expanded ability to effect transactions in penny increments in classes and/or series trading on CBOE's Hybrid System that are not already quoting in penny increments. 3 The Exchange would designate the classes/series eligible for this penny pricing, and the penny pricing would be available electronically and in open outcry. As proposed, all limit orders electronically sent to CBOE (regardless of sender origin type) could be expressed in a one-cent increment. The Exchange would round the limit price to the nearest permissible quoted increment for display purposes, but would maintain the one-cent increment limit price for trade allocation purposes. For example, the CBOE market is 1-1.20 and an order is received to buy 10 contracts at 1.08. CBOE would disseminate a 1.05 bid for 10 contracts, and any subsequent sell market order received by the Exchange would trade at 1.08 for up to 10 contracts (after that, the quote would revert back to 1-1.20). 4 3 In File No. SR-CBOE-2006-42, the Exchange proposed to allow penny price improvement in open outcry. That filing has been withdrawn and most of its provisions have been incorporated into this filing, which also contemplates electronic penny price improvement. 4 The Exchange has represented that the system would not execute an order at a price that would cause a trade-through of another options exchange. An Exchange Market-Maker could also provide the Exchange with indications to trade in one-cent increments that improve on the Market-Maker's disseminated quotation. To the extent there is trading interest from multiple sources at the same one-cent increment price, priority will be established in the exact same manner as priority at a standard quoting increment ( *i.e.* , normal allocation procedures are used). The Exchange may attach an indicator to its publicly disseminated quote indicating the existence of penny pricing for the series, but the size and price of any penny pricing will not be displayed or made available to anyone. If the indicator feature is activated, it will apply to all classes/series participating in the penny pricing program. With respect to open outcry, crowd members would be able to provide price improvement in one-cent increments over the Exchange's Best Bid or Offer (“BBO”). The Exchange has represented that any resulting trade would not cause a trade-through of another options exchange. Further, prior to executing any order in open outcry in one-cent increments, members would be required to electronically “sweep” any penny pricing interest that may exist. The “sweep” would ensure that better-priced orders resting in one-cent increments are executed prior to the open outcry transaction and would also ensure that same priced orders receive executions consistent with existing rules governing priority of orders in the Hybrid book when trading with an order represented in open outcry (CBOE Rules 6.45A(b) and 6.45B(b)). The applicability of split-price priority under CBOE Rule 6.47 to transactions effected under proposed CBOE Rule 6.13B would be determined by the appropriate option procedure committee, and the mechanics of split-price priority in those instances would be the same as the mechanics of split-price priority in five- and ten-cent increments. In addition, open outcry penny pricing would generally be available in instances where a Floor Broker is attempting to cross an order pursuant to CBOE Rule 6.74. However, it would not be available in those instances where
(i)a Floor Broker is attempting to cross orders during the opening rotation in open outcry 5 or
(ii)a Floor Broker is utilizing the Exchange's SizeQuote Mechanism. 6 5 *See* CBOE Rule 6.74(c), which provides procedures for a floor broker to cross orders during the opening rotation for a class of options. 6 *See* CBOE Rule 6.74(f), which describes the SizeQuote Mechanism. Lastly, the restrictions contained in Interpretations and Policies .01 and .02 under CBOE Rules 6.45A and 6.45B would continue to apply to trading in penny increments, including the 3-second exposure requirements, contained in those Interpretations and Policies. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act, 7 in general, and furthers the objectives of Section 6(b)(5) of the Act, 8 in particular, in that it is designed to facilitate transactions in securities, to promote just and equitable principles of trade, to prevent fraudulent and manipulative acts and practices, and, in general, to protect investors and the public interest. In particular, the Exchange believes that the proposal will provide an opportunity for customers to receive price improvement on their orders. 7 15 U.S.C. 78f(b). 8 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 Written comments on the proposed rule change were neither solicited nor received. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the **Federal Register** or within such longer period
(i)as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or
(ii)as to which the Exchange consents, the Commission will:
(A)By order approve such proposed rule change, or
(B)Institute proceedings to determine whether the proposed rule change should be disapproved. 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-CBOE-2007-39 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-CBOE-2007-39. 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 at *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 No. SR-CBOE-2007-39 and should be submitted on or before June 4, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 9 9 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-9179 Filed 5-11-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-55722; File No. SR-ISE-2007-24] Self-Regulatory Organizations; International Securities Exchange, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendments No. 1 and 2 Thereto Relating to Market Data Revenue Rebates May 8, 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 April 11, 2007, the International Securities Exchange, LLC (“Exchange” or “ISE”) 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 Exchange filed Amendment No. 1 to the proposed rule change on April 23, 2007, and Amendment No. 2 on May 3, 2007. The ISE filed this proposed rule change which establishes dues, fees or other charges among its members pursuant to Section 19(b)(3)(A)(ii) of the Act 3 and Rule 19b-4(f)(2) 4 thereunder, and, as such, it has become 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. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 15 U.S.C. 78s(b)(3)(A)(ii). 4 17 CFR 240.19b-4(f)(2). I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The ISE is proposing to amend its Schedule of Fees relating to its sharing of market data revenues. The text of the proposed rule change is available at the ISE, the Commission's Public Reference Room, and *http://www.iseoptions.com/legal/proposed_rule_changes.asp* . 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 purpose of this proposed rule change is to amend the Exchange's Schedule of Fees to clarify that while the Exchange will continue to rebate back to Equity Electronic Access Members (“EAMs”) fifty percent (50%) of its market data revenues, it will now do so based on the Allocation Amendment of Regulation NMS enacted under the Act— *i.e.* , allocated by quoting shares and trading shares. 5 The Exchange will be retroactively applying this formula to market data revenues rebated back to Equity EAMs as of April 1, 2007. 5 *See* Securities Exchange Act Release No. 53828 (May 18, 2006) (order exempting self-regulatory organizations (“SROs”) from compliance with the Allocation Amendment until April 1, 2007). Currently, the ISE rebates back fifty percent (50%) of the market data revenue received by the Exchange to Equity EAMs that are the liquidity providers on trades executed in the displayed market. The Allocation Amendment of Regulation NMS modifies the existing formulas for allocating revenues to the SRO participants, namely, introducing:
(1)“Quoting Shares”—the allocation of revenues based on the extent to which automated quotations displayed by SROs equal the national best bid or offer in NMS stocks; and
(2)implementing a new calculation method for allocating revenue based on “Trade Shares.” Under this new formula fifty percent (50%) of revenues will be allocated for Quoting Shares and fifty percent (50%) will be allocated for Trading Shares. Accordingly, the Exchange seeks to continue to rebate back to the Equity EAMs fifty percent (50%) of market data revenue the Exchange receives, but to allocate rebates based on this new formula— *i.e.* , the ISE will rebate to Equity EAMs, on a symbol basis, fifty percent (50%) of the Trading Share revenue received for that symbol and fifty percent (50%) of the Quoting Share revenue for that symbol. 2. Statutory Basis The basis under the Act for this proposed rule change is the requirement under Section 6(b)(4) 6 that an exchange have an equitable allocation of reasonable dues, fees, and other charges among its members and other persons using its facilities. 6 15 U.S.C. 78f(b)(4). 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 The Exchange has not solicited, and does not intend to solicit, comments on this proposed rule change. The Exchange has not received any unsolicited written comments from members or other interested parties. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The foregoing proposed rule change has become effective upon filing with the Commission pursuant to Section 19(b)(3)(A)(ii) of the Act 7 and Rule 19b-4(f)(2) thereunder, 8 in that the proposed rule change establishes or changes a member due, fee, or other charge imposed by the self-regulatory organization. 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. 7 15 U.S.C. 78s(b)(3)(A)(ii). 8 17 CFR 240.19, 240.19b-4(f)(2). 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-ISE-2007-24 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-ISE-2007-24. 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 such filing also will be available for inspection and copying at the principal office of the ISE. 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-ISE-2007-24 and should be submitted on or before June 4, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 9 9 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-9178 Filed 5-11-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-55720; File No. SR-NYSEArca-2007-22] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change and Amendment Nos. 1 and 2 Thereto Relating to Listing and Annual Fees for Derivative Securities Products and Closed-End Funds May 7, 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 February 27, 2007, NYSE Arca, Inc. (“NYSE Arca” or the “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 NYSE Arca. On May 1, 2007, NYSEArca filed Amendment No. 1 to the proposed rule change. 3 On May 3, 2007, NYSEArca 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. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 Amendment No. 1 replaces and supersedes the original filing in its entirety. 4 Amendment No. 2 conforms a single category in the annual fee chart for Derivative Securities Products in the purpose section with the Fee Schedule; and amends the purpose section to reflect that an additional issuer listed a series of Investment Company Units on the Exchange on March 28, 2007. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change NYSE Arca, through its wholly owned subsidiary NYSE Arca Equities, Inc. (“NYSE Arca Equities”), is proposing to amend its Schedule of Fees and Charges (“Fee Schedule”) to revise the listing fees applicable to Derivative Securities Products, Closed-End Funds and Structured Products listed on NYSE Arca, L.L.C. (“NYSE Arca Marketplace”), the equities facility of NYSE Arca Equities. The Exchange also proposes related modifications to the Fee Schedule. The text of the proposed rule change is available at NYSE Arca, the Commission's Public Reference Room, and *http://www.nysearca.com.* II. Self-Regulatory Organization's Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, NYSE Arca 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. NYSE Arca 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 NYSE Arca has determined to revise the listing fees specifically applicable to Derivative Securities Products (or “Products”), Closed-End Funds and Structured Products, 5 as follows: 5 For purposes of this proposal, Derivative Securities Products include securities qualified for listing and trading on NYSE Arca under the following NYSE Arca Equities Rules: Rule 5.2(j)(3) (Investment Company Units), 5.2(j)(5) (Equity Gold Shares), 8.100 Portfolio Depositary Receipts), 8.200 (Trust Issued Receipts), 8.201 (Commodity-Based Trust Shares), 8.202 (Currency Trust Shares), 8.300 (Partnership Units), and 8.400 (Paired Trust Securities), as these rules may be amended from time to time. Closed-End Funds are a type of investment company registered under the Investment Company Act of 1940 that offer a fixed number of shares. Their assets are professionally managed in accordance with the Closed-End Fund's investment objectives and policies, and may be invested in stocks, fixed income securities or a combination of both.
(1)Eliminate the Application Processing Fee for Derivative Securities Products, Closed-End Funds and Structured Products;
(2)Impose an original listing fee of $5,000 per Derivative Securities Product;
(3)Reduce, for some Derivative Securities Products, the Annual Fee; and
(4)Establish a listing and annual fee schedule for Closed-End Funds based on New York Stock Exchange LLC (“NYSE”) fees for Closed-End Funds as set forth in Section 902.04 of the NYSE Listed Company Manual. This filing also proposes a number of related modifications to the Fee Schedule. The proposed revisions will apply as of January 1, 2007 (with the exception of listing fees for Closed-End Funds). Summary of Current and Proposed Fees 1. Application Processing Fee Currently, NYSE Arca levies a non-refundable application processing fee of $500 for all applications to list “Funds” (which term currently encompasses Exchange-Traded Funds and Closed-End Funds) submitted at the same time by a Fund issuer or “family” regardless of the number of Funds to be listed. This fee is currently credited towards the applicable initial Listing Fee if the application is approved, or if the Fund issuer or “family” is not subject to an initial Listing Fee, towards the applicable Annual Fee. With this filing, NYSE Arca proposes to eliminate such Application Processing Fee and will impose no such fee for Derivative Securities Products, Closed-End Funds or Structured Products. 2. Listing Fee Currently, NYSE Arca charges a one-time Listing Fee of $20,000 for the first Fund listed by a Fund issuer or Fund “family,” but does not currently charge a Listing Fee for subsequent additional listings of Funds from the same Fund issuer or “family,” regardless of whether one or more previously listed Funds remains listed on NYSE Arca. 6 Further, this Listing Fee applies regardless of whether the Fund(s) lists in conjunction with an initial public offering, transfers from another marketplace, or concurrently lists or is already listed on another exchange or market. 6 Footnote 1 to the Exchange's current Fee Schedule states that Fund “families” are those with a common investment advisor or investment advisors, which are “affiliated persons” as defined in the securities laws. a. Derivative Securities Products With this filing, NYSE Arca proposes separate Listing Fees for Derivative Securities Products and Closed-End Funds. For Derivative Securities Products, NYSE Arca Equities proposes a Listing Fee fixed at $5,000 per Derivative Securities Product. The proposed Listing Fee applies regardless of whether the Product lists in conjunction with an initial public offering, transfers from another marketplace, or concurrently lists or is already listed on another exchange or market. b. Closed-End Funds 7 7 These fees are substantially identical to the fees charged by the NYSE for Closed-End Funds. *See* NYSE Listed Company Manual, Section 902.04. When a Closed-End Fund lists a class of common stock, or first lists a class of preferred stock in a case where common stock is not already listed, NYSE Arca Equities proposes Listing Fees as follows: Number of securities issued Total listing fee Up to and including 10 million $20,000 Over 10 million up to and including 20 million 30,000 Over 20 million 40,000
(1)Listing Additional Securities by a Closed-End Fund In the case of the following types of additional listings, Listing Fees are calculated on a per share basis for each class according to the Listing Fee schedule below: • At the time it first lists, a Closed-End Fund lists one or more classes of preferred stock or warrants in addition to a primary class of common stock or preferred stock; • Once listed, a Closed-End Fund lists additional shares of a class of previously listed securities; or • Once listed, a Closed-End Fund lists a new class of preferred stock or warrants. To the extent that an issuer lists more than one class of the same type of security, the class with the greatest number of shares issued will be deemed the primary class. When determining Listing Fees, calculations are made at each level of the schedule up to the last level applicable to the number of securities being listed. The total Listing Fee equals the sum of the amounts calculated at each level of the schedule. (Examples are provided below, under “Calculating Listing Fees.”) Number of securities issued Fee per share Up to and including 2 million $0.01475 Over 2 million up to and including 4 million 0.0074 Over 4 million up to and including 300 million 0.0035 Over 300 million 0.0019
(2)Limitations on Closed-End Fund Listing Fees Fund Family Discount. If two or more closed-end funds from the same fund family list at approximately the same time, the Exchange will cap the collective Listing Fee for those funds at $75,000. The Exchange will consider funds from the same fund family to be listing at approximately the same time if an issuer provides notice that such funds will be listed as part of the same transaction. A fund family consists of closed-end funds with a common investment adviser or investment advisers who are “affiliated persons” as defined in Section 2(a)(3) of the Investment Company Act of 1940, as amended. Limitation on Listing Fees for Additional Class of Common Shares. A Closed-End Fund that applies to list a new class of common shares in addition to its primary class will be charged a fixed Listing Fee of $5,000 in lieu of the per share schedule. Minimum Listing Fee for Subsequent Listing of Additional Securities. NYSE Arca will impose a minimum application fee for a subsequent listing of additional securities of $2,500. When listing additional securities, an issuer is billed Listing Fees in an amount equal to the greater of the $2,500 minimum supplemental listing application fee and the fee calculated on a per share basis. This applies to the listing of additional shares of an already listed equity security or to the listing of an additional class of equity security (other than a new class of common shares). Fee for Certain Changes. NYSE Arca will charge a $2,500 fee for changes that involve modifications to Exchange records, for example, changes of name, par value, title of security or designation. Application Fee for Technical Original Listings and Reverse Stock Splits. NYSE Arca will apply a $5,000 application fee for a Technical Original Listing if the change in the issuer's status is technical in nature and the shareholders of the original issuer receive or retain a share-for-share interest in the new issuer without any change in their equity position or rights. For example, a change in a Closed-End Fund's state of incorporation or a reincorporation or formation of a holding company that replaces a listed Closed-End Fund would be considered a Technical Original Listing. The $5,000 application fee also will apply to a reverse stock split. Maximum Listing Fee for Stock Splits and Stock Dividends. Listing fees on shares issued in conjunction with stock splits and stock dividends will be capped at $150,000 per split or issuance. Maximum Listing Fee for Issuance of Additional Shares of a Listed Class. Listing Fees on the issuance of additional shares of an already listed class of stock are capped at $500,000 per transaction, for example, in the case where shares are issued in conjunction with a merger or consolidation where a listed company survives, subsequent public offerings of a listed security and conversions of convertible securities into a listed security. Discounts on Listing Fees. In the case of transactions such as a consolidation between two or more listed issuers that result in the formation of a new issuer, or a merger or consolidation between a listed issuer and an unlisted issuer that results in the unlisted issuer surviving or the creation of a new issuer, where at the conclusion of the transaction a previously unlisted issuer immediately lists, Listing Fees for that new issuer are calculated at a rate of 25% of total Listing Fees for each class of securities being listed (to the extent that the total calculated listing fee for a class of common stock would be greater than $250,000, the calculation would be 25% of the $250,000 maximum for a new listing of common stock). No discount will be applied where a listed issuer survives the merger or consolidation, or in the case of a backdoor listing ( *i.e.* , resulting from a merger, acquisition or consolidation which has the effect of circumventing the standards for original listing). Listing Fees for Pre-emptive Rights. Preemptive rights representing equity securities are not subject to a separate Listing Fee. As of the date that preemptive rights are exercised, Listing Fees will accrue on the securities issued and the issuer will be billed for those Listing Fees at the beginning of the following year.
(3)Calculating Listing Fees Treasury stock, restricted stock and shares issued in conjunction with the exercise of an over-allotment option, if applicable, are included in the number of shares a Closed-End Fund is billed for at the time a security is first listed. The following are examples of how Listing Fees would be calculated by a closed-end fund in the case of an original listing and a subsequent additional issuance of common stock: Example A: A closed-end fund listing 50 million common shares in the context of an initial public offering or transfer from another market would pay total Listing Fees of $40,000. Example B: The same closed-end fund subsequently applies to list an additional 5 million shares of common stock that are immediately issued. The closed-end fund will pay total Listing Fees of $17,500 for the subsequent listing. Since the closed-end fund already has 50 million shares outstanding, the Listing Fee for the additional 5 million shares is calculated at a rate of $0.0035 per share. c. Structured Products The Fee Schedule is being amended to specify that the $20,000 Listing Fee, in addition to Initial Public Offerings, applies to an initial listing (e.g., a listing transfer to NYSE Arca from another exchange). 3. Annual Fees Currently, NYSE Arca charges Annual Fees specifically for Exchange-Traded Funds and Closed-End Funds based on the aggregate total shares outstanding of such Funds listed by the same Fund issuer or Fund “family,” as follows: Aggregate total shares outstanding Annual fee Less than 10 million $5,000 10 million to less than 30 million 10,000 30 million to less than 50 million 15,000 50 million to less than 100 million 20,000 100 million to less than 250 million 30,000 250 million to less than 500 million 40,000 500 million to less than 750 million 50,000 750 million to less than one billion 60,000 Greater than one billion 80,000 Annual Fees are assessed beginning in the first full calendar year following the year of listing. The aggregate total shares outstanding is calculated based on the total shares outstanding as reported by the Fund issuer or Fund “family” in its most recent periodic filing with the Commission or other publicly available information. Annual Fees are not pro-rated or reduced for Funds that delist for any reason. Annual Fees apply regardless of whether any of these Funds is listed elsewhere. a. Derivative Securities Products NYSE Arca Equities proposes revised Annual Fees for Derivative Securities Products based on total shares outstanding for each issue, as follows: Aggregate total shares outstanding (each issue) Annual fee Less than 25 million $2,000 25 million up to 49,999,999 4,000 50 million up to 99,999,999 8,000 100 million up to 249,999,999 15,000 250 million up to 499,999,999 20,000 500 million and over 25,000 The revised Annual Fee for Derivative Securities Products will be billed quarterly in arrears effective as of January 1, 2007. As such, billing for the first calendar quarter of 2007, for example, will be based on the number of shares outstanding for an issue on March 30, 2007. For example, for an issue with 45 million shares outstanding on March 30, 2007, the Annual Fee payable for the quarter would be $1,000 ($4,000 Annual Fee divided by 4). If, at the end of the second calendar quarter of 2007, the number of shares outstanding for such issue increased to 55 million, the Annual Fee payable for such quarter would be $2,000 ($8,000 Annual Fee divided by 4). The Exchange believes it is appropriate to apply the revised Annual Fees to issuers of the specified securities as of January 1, 2007 to permit the Exchange to apply the fee in the same manner to all such issuers listed on the Exchange, including those listed in the first quarter of 2007. The revised Annual Fee is expected to be lower for some issuers than the current Annual Fee. b. Closed-End Funds
(1)Annual Fee Schedule for Primary Listed Security NYSE Arca Equities proposes the following Annual Fee Schedule for a Closed-End Fund's primary class of listed security (common stock, or preferred stock if no common stock is listed) and will be equal to the greater of the minimum fee or the fee calculated on a per share basis: Per Share Rate—$0.00093 per share Minimum Fee—$25,000 The Annual Fee for Closed-End Funds is payable in January each year, and issuers are subject to Annual Fees in the year of listing, pro-rated based on days listed that calendar year.
(2)Additional Classes of Listed Equity Issues The Annual Fee for equity issues other than the primary class of security listed will be the greater of the minimum or the fee calculated on a per share basis: Per Share Rate—$0.00093 per share Minimum Fee—$5,000
(3)Limitations on Annual Fees Fund families that list between 3 and 14 Closed-End Funds will receive a 5% discount off the calculated Annual Fee for each fund listed, and those with 15 or more listed Closed-End Funds will receive a discount of 15%. No fund family shall pay aggregate Annual Fees in excess of $1,000,000 in any given year. In the case of transactions involving listed issuers (such as a consolidation between two or more listed issuers that results in the formation of a new issuer, or a merger or consolidation between a listed issuer and an unlisted issuer that results in the unlisted issuer surviving or the creation of a new issuer), where at the conclusion of the transaction a previously unlisted issuer immediately lists, Annual Fees will not be charged to that new issuer for the year in which it lists to the extent that the transaction concludes after March 31. To the extent that the transaction concludes on or before March 31 in any calendar year, however, the newly listing issuer will be charged pro rata Annual Fees from the date of listing to the end of the year. In addition, to the extent that a listed issuer is involved in a consolidation between two or more listed issuers that results in the formation of a new issuer, or a merger or consolidation between a listed issuer and an unlisted issuer that results in the unlisted issuer surviving or the creation of a new issuer, or a merger between two listed issuers where one listed issuer survives, and the transaction concludes on or before March 31 in any calendar year, the non-surviving listed issuer(s) will only be subject to pro rata Annual Fees for that year through the date of the conclusion of the transaction. To the extent that the transaction concludes after March 31, the non-surviving listed issuer(s) will be subject to full Annual Fees for that year. 4. Implementation NYSE Arca proposes to implement these revised fees, as applicable, to all issuers of Derivative Securities Products, Closed-End Funds and Structured Products as of January 1, 2007 with the exception of listing fees for Closed-End Funds, which will take effect as of the date of Commission approval of the proposed rule change. The Exchange believes such implementation date is appropriate under the circumstances described below. NYSE Arca believes this proposal will streamline and clarify the fees applicable to Derivative Securities Products and Closed-End Funds, making them easier to understand and apply while continuing to provide for adequate support of the ongoing costs of issuer services, including regulatory oversight and product and service offerings. Further, this proposal aligns NYSE Arca listing and annual fees for Derivative Securities Products and Closed-End Funds with the fees charged by the NYSE, further simplifying the Fee Schedule and helping NYSE Arca to compete more effectively for listings. For Derivative Securities Products, the proposed Listing Fees provide an alternative fee structure and will in certain circumstances be lower for issuers than the previous Fee Schedule. The Exchange believes it is appropriate to apply these potential cost savings to issuers as of January 2007. 8 8 The Exchange notes that, with one exception discussed below, the only Derivative Securities Products currently listed on the Exchange are Investment Company Units (Exchange-Traded Funds) of one issuer of two separate trusts, which were listed on the Exchange in 2006. Because these listings were transfers from another national securities exchange, the issuer incurred no listing fee, in accordance with Commentary .04 to the Exchange's Fee Schedule (which will cease to have effect on December 31, 2007). The Exchange has advised the issuer of the proposed changes to the Listing and Annual Fees. These two trusts listed six and 13 funds, respectively. Except for Commentary .04, the listing fee for each trust would have been $20,000. For new Derivative Securities Product issues, an issuer listing five or more issues would incur a higher listing fee under the proposed schedule than under the current schedule ( *e.g.* , an issuer listing six funds would pay $30,000, and $5,000 for each subsequent fund listed.) An additional issuer listed a series of Investment Company Units on the Exchange on March 28, 2007, and the issuer would incur an initial listing fee of $20,000 under the current fee schedule and $5,000 under the proposed schedule. As discussed above, the revised Annual Fee for Derivative Securities Products will be billed quarterly in arrears, beginning after the first calendar quarter in 2007, effective as of January 1, 2007. The Annual Fee is expected to be lower for some Derivative Securities Products issuers than the current Annual Fee, but may be higher in some cases depending on the number of funds listed by the same issuer and the shares outstanding for each fund. 9 The proposed Annual Fee for Closed-End Funds will apply as of January 1, 2007, and, for issuers listed in calendar year 2007, will be pro-rated based on days listed in 2007. 10 9 Taking the example of the two trusts discussed above ( *see* preceding footnote), the two trusts would have incurred Annual Fees of $30,000 and $50,000, respectively, based on the total aggregate shares of each trust outstanding at year-end 2006 (assuming the funds of each trust had been listed the entire year and the shares outstanding remained constant throughout the year). Under the proposed fee schedule, Annual Fees will be based on total shares outstanding of each fund. Accordingly, under the same circumstances described above, the trusts would incur an Annual Fee of $20,000 and $81,000, respectively, based on shares outstanding of each of their funds. 10 The Exchange notes that application of the proposed Annual Fee as of January 1, 2007 for Closed-End Funds will potentially impact only a few issuers. Following discussions, beginning in 2006, with Closed-End Fund issuers about changes to the Annual Fee, eight of these funds delisted from the Exchange. The Exchange dually lists three Closed-End Funds, one of which is pending delisting. 2. Statutory Basis NYSE Arca believes that the proposal is consistent with Section 6(b) 11 of the Act, in general, and Section 6(b)(4) 12 of the Act, in particular, in that it provides for the equitable allocation of reasonable dues, fees and other charges among its issuers and other persons using its facilities. 11 15 U.S.C. 78f(b). 12 15 U.S.C. 78f(b)(4). B. Self-Regulatory Organization's Statement on Burden on Competition NYSE Arca 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 NYSE Arca has neither solicited nor received written comments on the proposed modifications to its fee schedule. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within 35 days of the date of publication of this notice in the **Federal Register** or within such longer period
(i)as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or
(ii)as to which the Exchange consents, the Commission will:
(A)By order approve such proposed rule change, or
(B)Institute proceedings to determine whether the proposed rule change should be disapproved. III. 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-NYSEArca-2007-22 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-NYSEArca-2007-22. 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 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-NYSEArca-2007-22 and should be submitted on or before June 4, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 13 13 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-9177 Filed 5-11-07; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-55723; File No. SR-NYSEArca-2007-38] Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to Rule 6.80 Governing Accommodation Transactions (Cabinet Trades) May 8, 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 April 17, 2007, NYSE Arca, Inc. (“NYSE Arca” or the “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 substantially prepared by the Exchange. On May 7, 2007, NYSE Arca filed Amendment No. 1 to the proposed rule change. The Commission is publishing this notice to solicit comment on the proposed rule change, as amended, from interested persons. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. I. Self-Regulatory Organization's Statement of the Terms of Substance of the Proposed Rule Change The Exchange proposes to amend NYSE Arca Rule 6.80 governing Accommodation Transactions, also referred to as Cabinet Trades. The text of the proposed rule change is available at NYSE Arca, the Commission's Public Reference Room, and *http://www.nysearca.com.* 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 An “accommodation” or “cabinet” trade refers to trades in listed options on the Exchange that may be considered worthless or which are not actively traded. Exchange Rule 6.80, Accommodation Transactions (Cabinet Trades), which sets forth specific procedures for engaging in cabinet trades, currently
(i)permits cabinet trades to occur via open outcry at a cabinet price of $1 per option contract when the class does not trade on the NYSE Arca automated electronic trading system, 3 and
(ii)requires Market Makers and Floor Brokers who wish to conduct a cabinet transactions to place their orders with a Trading Official. 3 Cabinet orders were previously eligible for automated electronic trading on the PCX Plus system. NYSE Arca decommissioned the PCX Plus electronic trading system during the fourth quarter of 2006 and replaced it with the OX electronic trading system. As a result, the Exchange proposes to delete the name “PCX Plus” from the text of Rule 6.80. At this time no issues have been designated for cabinet trading on OX or any other Exchange sponsored electronic system. The primary purpose of this rule change is to amend Exchange Rule 6.80 to authorize Floor Brokers and Market Makers to initiate cabinet trades. Under the existing procedures, Market Makers and Floor Brokers are only permitted to
(i)place cabinet orders with a Trading Official and
(ii)respond at a cabinet price to a request for a quote from a Trading Official. Pursuant to the proposed amendment, Market Makers and Floor Brokers will also be permitted to initiate a cabinet trade in the trading crowd on their own, without the need to first place the order with a Trading Official. This will save the additional time and process involved in a Market Maker or Floor Broker needing to first place a cabinet order that they are initiating, with a Trading Official, who would then in turn represent and execute the order on behalf of the Market Maker or Floor Broker. Permitting Market Makers and Floor Brokers to initiate cabinet orders and trades on their own accord will provide Market Makers and Floor Brokers with additional flexibility and will facilitate the fair, orderly and efficient handling of cabinet transactions on the Exchange. Permitting Market Makers and Floor Brokers to represent cabinet orders is similar to and consistent with Rule 6.54 of the Chicago Board Option Exchange. 4 4 *See* Securities Exchange Act Release No. 53808 (May 16, 2006), 71 FR 29371 (May 22, 2006) (File no. SR-CBOE-2006-33) (permitting Floor Brokers to represent cabinet orders); Securities Exchange Act Release No. 55081 (January 10, 2007), 72 FR 2317 (January 18, 2007) (File no. SR-CBOE-2007-02) (permitting Market Makers to represent cabinet orders). The second purpose of this rule change is to make clear that Floor Brokers and Market Makers who enter into either opening or closing cabinet transactions may do so as long as they first yield priority to all corresponding orders in the cabinet book. Rule 6.80 currently provides that all bids and offers for cabinet transactions, both opening and closing, must be placed with a Trading Official, and that opening orders must yield to closing orders in the cabinet. The Exchange now proposes that both opening and closing transactions may be represented by Floor Brokers and Market Makers, so long as they first yield priority to all corresponding orders in the cabinet. The Exchange also proposes to include a provision in Rule 6.80 stating that the rules governing cabinet trading do not apply to issues that trade as part of the Penny Pilot program. Although cabinet trades involve orders priced at $1 per option contract, the specific terms and conditions for cabinet trading are not applicable to option classes participating in the Penny Pilot. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act 5 in general, and furthers the objectives of Section 6(b)(5) of the Act 6 in particular, in that it is designed to prevent fraudulent and manipulative acts and practices, 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 mechanism of a free and open market and a national market system. 5 15 U.S.C. 78f(b). 6 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 The Exchange has neither solicited nor received written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Because the foregoing proposed rule change
(i)Does not significantly affect the protection of investors or the public interest;
(ii)does not impose any significant burden on competition; and
(iii)does not become operative for 30 days from the date on which it was filed, or such shorter time as the Commission may designate, if consistent with the protection of investors and the public interest, the proposed rule change has become effective pursuant to Section 19(b)(3)(A) of the Act 7 and Rule 19b-4(f)(6)(iii) thereunder. 8 7 15 U.S.C. 78s(b)(3)(A). 8 17 CFR 240.19b-4(f)(6)(iii). Rule 19b-4(f)(6)
(iii)requires the Exchange to give written notice to the Commission of its intent to file the proposed rule change at least five business days prior to filing. The Exchange complied with this requirement. 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. 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-NYSEArca-2007-38 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-NYSEArca-2007-38. 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 Commissions 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 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-NYSEArca-2007-38 and should be submitted on or before June 4, 2007. For the Commission, by the Division of Market Regulation, pursuant to delegated authority. 9 9 17 CFR 200.30-3(a)(12). Florence E. Harmon, Deputy Secretary. [FR Doc. E7-9195 Filed 5-11-07; 8:45 am] BILLING CODE 8010-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10866 and # 10867] Kansas Disaster # KS-00018 AGENCY: U.S. Small Business Administration ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for the State of Kansas ( FEMA-1699-DR), dated 5/6/2007. *Incident:* Severe Storms, Tornadoes, and Flooding. *Incident Period:* 5/4/2007 and continuing. *Effective Date:* 5/6/2007. *Physical Loan Application Deadline Date:* 7/5/2007. *Economic Injury
(EIDL)Loan Application Deadline Date:* 2/6/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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: Notice is hereby given that as a result of the President's major disaster declaration on 05/06/2007, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties (Physical Damage and Economic Injury Loans):* Kiowa *Contiguous Counties (Economic Injury Loans Only):* Kansas: Barber, Clark, Comanche, Edwards Ford, Pratt. The Interest Rates are: Percent For Physical Damage: Homeowners with Credit Available Elsewhere 5.750 Homeowners without Credit Available Elsewhere 2.875 Businesses with Credit Available Elsewhere 8.000 Other (Including Non-Profit Organizations) with Credit Available Elsewhere 5.250 Businesses and Non-Profit Organizations without Credit Available Elsewhere 4.000 For Economic Injury: Businesses & Small Agricultural Cooperatives without Credit Available Elsewhere 4.000 The number assigned to this disaster for physical damage is 10866C and for economic injury is 108670. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-9163 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10864 and # 10865] Massachusetts Disaster # MA-00009 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a notice of an Administrative declaration of a disaster for the Commonwealth of Massachusetts dated 5/07/2007. *Incident:* Severe Storms and Flooding. *Incident Period:* 4/15/2007 through 4/19/2007. *Effective Date:* 5/7/2007. *Physical Loan Application Deadline Date:* 7/6/2007. *Economic Injury
(EIDL)Loan Application Deadline Date:* 2/7/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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: Notice is hereby given that as a result of the Administrator's disaster declaration, applications for disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties:* Essex. *Contiguous Counties:* Massachusetts: Middlesex, Suffolk. New Hampshire: Hillsborough, Rockingham. *The Interest Rates are:* Percent Homeowners with Credit Available Elsewhere 5.750 Homeowners without Credit Available Elsewhere 2.875 Businesses wth Credit Available Elsewhere 8.000 Businesses & Small Agricultural Cooperatives without Credit Available Elsewhere 4.000 Other (Including Non-Profit Organizations) with Credit Available Elsewhere 5.250 Businesses and Non-Profit Organizations without Credit Available Elsewhere 4.000 The number assigned to this disaster for physical damage is 10864 B and for economic injury is 10865 0. The Commonwealth and State which received an EIDL Declaration # are Massachusetts and New Hampshire. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Dated: May 7, 2007. Steven C. Preston, Administrator. [FR Doc. E7-9164 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10868] Missouri Disaster # MO-00010 Declaration of Economic Injury AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a notice of an Economic Injury Disaster Loan
(EIDL)declaration for the State of Missouri, dated 5/8/2007. *Incident:* Severe Winter Storms and Flooding. *Incident Period:* 1/12/2007 through 1/22/2007. DATES: *Effective Date:* 5/08/2007. *EIDL Loan Application Deadline Date:* 2/8/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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: Notice is hereby given that as a result of the Administrator's EIDL declaration, applications for economic injury disaster loans may be filed at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties:* Dallas, Greene, Jasper, Laclede, Lawrence, St. Louis. *Contiguous Counties:* Missouri: Barry, Barton, Camden, Christian, Dade, Franklin, Hickory, Jefferson, Newton, Polk, Pulaski, St. Charles, St. Louis City, Stone, Texas, Webster, Wright. *Illinois:* Madison, Monroe, Saint Clair. *Kansas:* Cherokee, Crawford. *The Interest Rate is:* 4.000. The number assigned to this disaster for economic injury is 108680. The States which received an EIDL Declaration # are: Missouri, Illinois, and Kansas. (Catalog of Federal Domestic Assistance Number 59002) Dated: May 8, 2007. Steven C. Preston, Administrator. [FR Doc. E7-9204 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10857 and # 10858] New Hampshire Disaster Number NH-00004 AGENCY: U.S. Small Business Administration. ACTION: Amendment 1. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of New Hampshire (FEMA-1695-DR) , dated 4/27/2007. *Incident:* Severe Storms and Flooding. *Incident Period:* 4/15/2007 and continuing through 4/23/2007. DATES: *Effective Date:* 5/7/2007. *Physical Loan Application Deadline Date:* 6/26/2007. *EIDL Loan Application Deadline Date:* 1/28/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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 President's major disaster declaration for the State of New Hampshire, dated 4/27/2007 is hereby amended to establish the incident period for this disaster as beginning 4/15/2007 and continuing through 4/23/2007. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-9189 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10852 and # 10853] New York Disaster Number NY-00045 AGENCY: U.S. Small Business Administration. ACTION: Amendment 1. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of New York (FEMA-1692-DR), dated 4/24/2007. *Incident:* Severe Storms and Inland and Coastal Flooding. *Incident Period:* 4/14/2007 through 4/18/2007. *Effective Date:* 5/3/2007. *Physical Loan Application Deadline Date:* 6/25/2007. *EIDL Loan Application Deadline Date:* 1/24/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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 Presidential disaster declaration for the State of New York, dated 4/24/2007 is hereby amended to include the following areas as adversely affected by the disaster: *Primary Counties:* Albany, Dutchess, Richmond. *Contiguous Counties:* New York: Columbia, Greene, Rensselaer, Saratoga, Schenectady, Schoharie. Connecticut: Litchfield. Massachusetts: Berkshire. All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) James E. Rivera, Acting Associate Administrator for Disaster Assistance. [FR Doc. E7-9161 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10862 and # 10863] Texas Disaster Number TX-00251 AGENCY: U.S. Small Business Administration. ACTION: Amendment 1. SUMMARY: This is an amendment of the Presidential declaration of a major disaster for the State of Texas (FEMA-1697-DR), dated 5/1/2007. *Incident:* Severe Storms and Tornadoes. *Incident Period:* 4/21/2007 through 4/24/2007. DATES: *Effective Date:* 5/7/2007. *Physical Loan Application Deadline Date:* 7/2/2007. *EIDL Loan Application Deadline Date:* 2/1/2008. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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 Presidential disaster declaration for the State of Texas, dated 5/1/2007 is hereby amended to include the following areas as adversely affected by the disaster: *Primary Counties:* Denton. *Contiguous Counties:* Texas: Collin, Cooke, Dallas, Grayson, Tarrant, Wise All other information in the original declaration remains unchanged. (Catalog of Federal Domestic Assistance Numbers 59002 and 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-9186 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10870] Vermont Disaster # VT-00003 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of Vermont (FEMA-1698-DR), dated 5/4/2007. *Incident:* Severe Storms and Flooding. *Incident Period:* 4/15/2007 through 4/21/2007. DATES: *Effective Date:* 5/4/2007. *Physical Loan Application Deadline Date:* 7/3/2007. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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: Notice is hereby given that as a result of the President's major disaster declaration on 05/04/2007, Private Non-Profit organizations that provide essential services of a governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties:* Bennington, Caledonia, Essex, Orange, Rutland, Windham, Windsor. *The Interest Rates are:* Percent Other (Including Non-Profit Organizations) with Credit Available Elsewhere 5.250 Businesses and Non-Profit Organizations without Credit Available Elsewhere 4.000 The number assigned to this disaster for physical damage is 10870. (Catalog of Federal Domestic Assistance Number 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-9188 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P SMALL BUSINESS ADMINISTRATION [Disaster Declaration # 10869] West Virginia Disaster # WV-00005 AGENCY: U.S. Small Business Administration. ACTION: Notice. SUMMARY: This is a Notice of the Presidential declaration of a major disaster for Public Assistance Only for the State of West Virginia (FEMA-1696-DR), dated 5/1/2007. *Incident:* Severe Storms, Flooding, Landslides, and Mudslides. *Incident Period:* 4/14/2007 through 4/18/2007. DATES: *Effective Date:* 5/1/2007. *Physical Loan Application Deadline Date:* 7/2/2007. ADDRESSES: Submit completed loan applications to: U.S. Small Business Administration, 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: Notice is hereby given that as a result of the President's major disaster declaration on 5/1/2007, Private Non-Profit organizations that provide essential services of a governmental nature may file disaster loan applications at the address listed above or other locally announced locations. The following areas have been determined to be adversely affected by the disaster: *Primary Counties:* Boone, Cabell, Lincoln, Logan, Mingo, Wayne, Wyoming *The Interest Rates are:* Percent Other (Including Non-Profit Organizations) with Credit Available Elsewhere 5.250 Businesses And Non-Profit Organizations without Credit Available Elsewhere 4.000 The number assigned to this disaster for physical damage is 10869. (Catalog of Federal Domestic Assistance Number 59008) Herbert L. Mitchell, Associate Administrator for Disaster Assistance. [FR Doc. E7-9187 Filed 5-11-07; 8:45 am] BILLING CODE 8025-01-P DEPARTMENT OF TRANSPORTATION Federal Highway Administration [Docket No. FHWA-2007-28156] Notice of Request for Extension of Currently Approved Information Collection AGENCY: Federal Highway Administration (FHWA), DOT. ACTION: Notice and request for comments. SUMMARY: The FHWA has forwarded the information collection request described in this notice to the Office of Management and Budget
(OMB)to renew an information collection. We published a **Federal Register** Notice with a 60-day public comment period on this information collection on February 26, 2007. We are required to publish this notice in the **Federal Register** by the Paperwork Reduction Act of 1995. DATES: Please submit comments by June 13, 2007. ADDRESSES: You may send comments, within 30 days, to the Office of Information and Regulatory Affairs, Office of Management and Budget, 725 17th Street, NW., Washington, DC 20503, or e-mail at *oira_submission@omb.eop.gov* , Attention DOT Desk Officer. You are asked to comment on any aspect of this information collection, including:
(1)Whether the proposed collection is necessary for the FHWA's performance;
(2)the accuracy of the estimated burden;
(3)ways for the FHWA to enhance the quality, usefulness, and clarity of the collected information and
(4)ways that the burden could be minimized, including the use of electronic technology, without reducing the quality of the collected information. All comments should include the Docket number FHWA-2007-28156. FOR FURTHER INFORMATION CONTACT: Chung Eng, 202-366-8043, Office of Transportation Operations, Federal Highway Administration, Department of Transportation, 400 Seventh Street, SW., Washington, DC 20590. Office hours are from 8 a.m. to 5 p.m., Monday through Friday, except Federal holidays. SUPPLEMENTARY INFORMATION: *Title:* Work Zone Safety and Mobility. *OMB Control #:* 2125-0600 (expiration date July 31, 2007). *Background:* As amended on September 9, 2004, 23 CFR part 630, subpart J “Work Zone Safety and Mobility” requires State and local transportation agencies that receive Federal-aid highway funding to use available work zone information and data to assess and manage the work zone impacts of highway projects. While this Rule does not require the reporting or submission of work zone data, it does: • Require agencies to use work zone data at both the project and process levels to manage and improve work zone safety and mobility; • At the project level, require agencies to use field observations, available work zone crash data, and operational information to manage the work zone impacts of individual projects; • At the process level, require agencies to analyze work zone crash and operational data from multiple projects to improve agency processes and procedures, and continually pursue the improvement of overall work zone safety and mobility; and • Recommend that agencies maintain elements of the data and information resources that are necessary to support the use of work zone data for the activities above. Most of the data needed to conduct work zone performance monitoring during project implementation as well as post-implementation assessments should be readily available from pre-existing sources. However, data collection or data storage and retrieval systems may need to be altered to take full advantage of available information resources. *Respondents:* The State Departments of Transportation (or equivalent) in the 50 states, the District of Columbia, and the Commonwealth of Puerto Rico. *Frequency:* Continuous. *Estimated Total Annual Burden Hours:* The estimated total annual burden for all respondents is 83,200 hours. This involves responses from 52 State Departments of Transportation or equivalent with an estimated average time of 1,600 hours per respondent over the course of a year. This estimate only includes the burden on the respondents to provide information that is not usually and customarily collected. Authority: The Paperwork Reduction Act of 1995; 44 U.S.C. Chapter 35, as amended; and 49 CFR 1.48. Issued on: May 8, 2007. James R. Kabel, Chief, Management Programs and Analysis Division. [FR Doc. E7-9157 Filed 5-11-07; 8:45 am] BILLING CODE 4910-22-P DEPARTMENT OF TRANSPORTATION Federal Highway Administration Notice of Final Agency Actions on Proposed Highways in Colorado AGENCY: Federal Highway Administration (FHWA), DOT. ACTION: Notice of Limitation on Claims for Judicial Review of Actions by FHWA and Other Federal Agencies. SUMMARY: This notice announces actions taken by the FHWA and other Federal agencies that are final within the meaning of 23 U.S.C. 139(1)(1). The actions relate to various proposed highway projects in the State of Colorado. Those actions grant licenses, permits, and approvals for the projects. DATES: By this notice, the FHWA is advising the public of final agency actions subject to 23 U.S.C. 139(1)(1). A claim seeking judicial review of the Federal agency actions on any of the listed highway projects will be barred unless the claim is filed on or before November 13, 2007. If the Federal law that authorizes judicial review of a claim provides a time period of less than 180 days for filing such calim, then that shorter time period still applies. FOR FURTHER INFORMATION CONTACT: Mr. Michael Vanderhoof, Environmental Program Manager, Federal Highway Administration, 12300 W. Dakota Ave., Room 180, Lakewood, CO 80228. Office Hours: 7 a.m.-4:30 p.m. MST, Monday through Friday. Phone: 720-963-3013. E-mail: *michael.vanderhoof@fhwa.dot.gov.,* or Brad Beckham, Environmental Programs Branch Manager, Colorado Department of Transportation, 4201 East Arkansas, Denver, CO 80222. Phone: 303-757-9533. E-mail: *brad.beckham@dot.state.co.us.* SUPPLEMENTARY INFORMATION: Notice is hereby given that the FHWA and other Federal agencies have taken final agency actions by issuing licenses, permits, and approvals for the highway projects in the State of Colorado that are listed below. The actions by the Federal agencies on a project, and the laws under which such actions were taken, are described in the environmental assessment (EA), or environmental impact statement
(EIS)issued in connection with the project, and in other documents in the FHWA administrative record for the project. The EA, or Final EIS (FEIS), and other documents from the FHWA administrative record files for the listed projects are available by contacting the FHWA or the Colorado Department of Transportation
(CDOT)at the addresses provided above. Project information may also be available through the CDOT Web site at *http://www.dot.state.co.us/TravelInfo/Studies.htm,* or at public libraries in the relevant project areas. This notice applies to all Federal agency decisions on the listed project as of the issuance date of this notice and all laws under which such actions were taken, including but not limited to: 1. National Environmental Policy Act
(NEPA)[42 U.S.C. 4321-4351]. 2. Federal-Aid Highway Act [23 U.S.C. 109]. 3. Clean Air Act, 42 U.S.C. 7401-7671(q). 4. Section 4(f) of the Department of Transportation Act of 1966 [49 U.S.C. 303]; 5. Endangered Species Act [16 U.S.C. 1531-1544 and Section 1536]. 6. Section 106 of the National Historic Preservation Act of 1966, as amended [16 U.S.C. 470(f) *et seq.].* 7. Clean Water Act, 33 U.S.C. 1251-1377 (Section 404, Section 402, Section 401, Section 319). 8. E.O. 11990, Protection of Wetlands. 9. E.O. 11988, Floodplain Management. 10. E.O. 12898, Federal Actions to Address Environmental Justice in Minority Populations and Low Income Populations. The projects subject to this notice are: 1. *Project:* South Interstate 25 (I-25) and US 85 Corridor. Location: Cities of Highlands Ranch, Lone Tree, and Castle Rock, Douglas County. Project Reference Number: IM 0252-317. This project involves the construction of one new lane in each direction on US 85 from C-470 to Meadows Parkway, and on I-25 between C-470 and Douglas Lane. This will include improvements to ten interchanges, improvement of bicycle/pedestrian facilities, construction of a new park and ride, a new frontage road and improvements to various other roadway features. The improvements are proposed to address present and future transportation inadequacies and safety problems in the two roadway corridors. The project length is 17 miles on I-25 and 16 miles on US 85. A FEIS/Draft Section 4(f) Evaluation was completed in May 2001, a Record of Decision (ROD)/Final Section 4(f) Evaluation was issued on 8/14/01, and a Revised ROD/Final Section 4(f) Evaluation was issued on 10/25/02. 2. *Project:* Crystal Valley/Dawson Ridge Parkway/I-25 Interchange. Location: City of Castle Rock, Douglas County. Project Reference Number: CC C470-022. The preferred alternative includes constructing a new diamond interchange with Crystal Valley/Dawson Ridge Parkway crossing over I-25 at the intersection of I-25 and Douglas Lane on the east, and Territorial Road on the west. The purpose of the project is to enhance the local ancillary roadway network and eliminate one railroad crossing, thereby improving safety of access. An Environmental Assessment and draft Section 4(f) Evaluation was completed on September 20, 2004 and a Finding of No Significant Impact (FONSI)/Final Section 4(f) Evaluation was issued on 2/28/05. 3. *Project:* I-70/32nd Avenue Interchange. Location: Cities of Wheat Ridge and Lakewood. Project reference Number: IM 0703-294. The proposed action is to improve the I-70/32nd Avenue interchange, State Highway
(SH)58 from McIntyre Street to I-70, and adjacent portions of 32nd Avenue. The purpose is to relieve traffic congestion at the I-70/32nd Avenue interchange and to address future transportation demands on the local street network due to regional growth and commercial development. An Environmental Assessment was completed on October 23, 2006 and a FONSI was issued on February 28, 2007. 4. *Project:* State Highway
(SH)9, Frisco to Breckenridge. Location: Cities of Frisco and Breckenridge, Summit County. Project Reference Number: STA 009A-021. The proposed action will improve the existing two lane highway to a four-lane roadway that will include necessary turn lanes, acceleration/deceleration lanes, curb and gutter, medians, and shoulders The project extends from Frisco (milepost 97) south to Breckenridge (milepost 85). The purpose of the improvement is to improvement safety and mobility on the route. A FEIS was completed on March 4, 2004 and a ROD was issued on May 24, 2004. 5. *Project:* US 285, Foxton Road to Bailey. Location: Cities of Bailey, Pine Junction, Shaffer's Crossing, and Conifer, Jefferson and Park Counties. Project Reference Number: NH 2854-093. The Preferred Alternative is to widen US 285 to four through lanes with a depressed rural median between the top of Crow Hill and Foxton Road, and two through lanes and a passing lane between Bailey and the top of Crow Hill. Shoulder, clear zone, access, and safety improvements will be included the entire length of the project. The primary purpose is to improve travel time and enhance safety along the 14.7 mile section of road. An Environmental Assessment was completed in August 11, 2004 and a FONSI issued on June 30, 2005. 6. *Project:* I-25 through Colorado Springs. Location: Cities of Colorado Springs and Monument, El Paso County. Project Reference Number IM 0252-316. This project will widen 26 miles of I-25 between SH 105 and South Academy Boulevard. A six lane section would be constructed south of the US 24 bypass to South Academy and north of Briargate to SH 105. The central 12 mile section from the Briargate Parkway to the US 24 bypass would be constructed to 8 lanes. The project will include interchange reconstruction, HOV lanes, congestion management, transit and park and ride accommodations and bicycle/pedestrian accommodations. The purpose is to provide additional capacity to relieve existing and projected future traffic congestion. An Environmental Assessment was completed on March 29, 2004 and a FONSI issued on September 10, 2004. *http://www.i25coloradosprings.com/ea/EAcontents.htm* . 7. *Project:* Eagle Airport Interchange. Location: Town of Eagle, Eagle County. Project Reference Number: IM 0702-229. the proposed action is to construct a new interchange on Interstate 70 and a connector road to improve access to the Eagle County Airport. The project is located approximately 3 miles west of Eagle, Colorado. An Environmental Assessment was completed in August 2004 and a FONSI issued on June 23, 2005. *http://www.i70-eagle-airport-interchange-ea.com* . 8. *Project:* US 550, New Mexico State Line to Durango. Location: South of City of Durango, La Plata County. Project Reference Number: NH 5501-011. The project includes extending the existing four-lanes on US 550 between the New Mexico/Colorado State Line and County Road 220 (MP 1.0 to MP 15.4). The purpose of the project is to improve safety, address future highway capacity needs, improve access conditions, and address roadway deficiencies. The roadway will generally follow the existing highway alignment with alignment shifts east and west as needed to improve highway geometry. An Environmental Assessment was completed on July 27, 2005 and a FONSI issued on December 21, 2005. 9. *Project:* 120th Avenue Extension, Quebec to US 85. Location: City of Thornton, Adams county, SH 128 (120th Avenue). Project Reference Number: STU C120-007. The proposed action is to construct a four-lane extension of 120th Avenue from Quebec Street east 2.5 miles to US 85. This will require a new bridge over the south Platte River. The project length is 2.5 miles. An Environmental Assessment was completed on February 1, 1996 and a FONSI was issued on July 31, 2003. 10. *Project:* SH 128 (120th Avenue) over US 36. Location: City and County of Broomfield. Project Reference Number: DEMO 0361-067. This project proposes to construct a new six-lane roadway across US 36 to connect 120th Avenue and SH 128. The purpose of the project is to accommodate existing and future east-west traffic, reduce out of direction travel, and alleviate congestion. The project length is 1.2 miles. An Environmental Assessment/Draft Section 4(f) Evaluation was completed March 30, 2005 and a FONSI/Final Section 4(f) was issued on January 17, 2006. 11. *Project:* Wadsworth/Grandview Railroad Separation. Location: City of Arvada, Jefferson County. Project Reference Number: TCSP TCSE-002. This project proposes to reconstruct the Wadsworth bypass 25 feet below ground and construct two bridges to carry Burlington Northern Santa Fe RR and Grandview over the Bypass. This action will improve safety and eliminate the traffic congestion and delays caused by the existing at-grade railroad crossing. The project length is less than 0.5 miles. An Environmental Assessment was completed May 9, 2005 and FONSI issued August 31, 2005. 12. *Project:* I-225 and Colfax Avenue Interchange. Location: City of Aurora, Adams and Arapahoe Counties. Project Reference Number: STU 2254-068. The proposed action is to expand the existing I-225/Colfax Avenue interchange to add an I-225 connection to the north at 17th Street via collector distributor roads. The purpose is to relieve congestion at the I-225/Colfax Avenue Interchange. The project length is less than one mile. An Environmental Assessment was completed on October 20, 2005 and FONSI was issued on April 24, 2007. 13. *Project:* I-25 at 126th Avenue Interchange. Location: Cities of Westminster and Thornton, Adams County. Project Reference Number: CC 0253-175. The proposed action is to construct a new interchange at 136th Avenue and I-25. The project length is less than 1 mile. The purpose of the improvement is to improve access and congestion. An Environmental Assessment/Draft Section 4(f) Evaluation was completed on May 15, 2002 and a FONSI/Final Section 4(f) Evaluation was issued on January 8, 2003. 14. *Project:* I 70/SH 58 Interchange. Location: City of Golden, Jefferson County. Project Reference Number: IM 0703-246. The proposed action is to improve the I-70/SH 58 interchange by adding eastbound SH 58 to westbound I 70 and eastbound I-70 to westbound SH 58 movements. This will require shifting SH 58 and realigning all existing ramps plus constructing a new Eastbound SH 58 to westbound I-70 ramp and constructing a new flyover ramp from eastbound I-70 to westbound SH 58. The purpose is to reduce traffic on local arterials and improve traffic operations on I-70. The project length is less than 1 mile. An Environmental Assessment was completed in July 2002 and a FONSI was issued on September 1, 2004. 15. *Project:* US 34 Business Route. Location: City of Greeley, Weld County. Project Reference Number: STA 0342-037. This project involves the reconstruction of US 34 Business Route from a two lane to a four lane facility between 71st Avenue and State Highway 257 in the west side of Greeley, Colorado. The project length is approximately 4.2 miles. The purpose is to accommodate future travel demand and improve mobility, safety, and access. An Environmental Assessment was completed on September 28, 2005 and a Finding of No Significant Impact issued on May 2, 2006. 16. *Project:* US 287 from SH 1 to the LaPorte Bypass. Location: Cities of Fort Collins and LaPorte, Larimer County. Project Reference Number STA 2873-100. This project will reconstruct US 287 from two to four lanes for two miles between SH 1 and the Laporte Bypass intersection east of the community of LaPorte. The purpose is to improve safety and accommodate existing and future traffic. An Environmental Assessment was completed on October 1, 2004 and a Finding of no Significant Impacts was issued on June 14, 2006. 17. *Project:* U.S. Highway 160 from Durango to Bayfield. Location: Cities of Durango Gem Village, and Bayfield, La Plata County. Project Reference Number FC-NH(CX) 160-2 (048). The project proposes a 25.9km (16.2 mi) long, four-lane highway with shifts, realignments and grade separations in some locations. The project will also correct substandard roadway design, intersection deficiencies and relocate the existing U.S. 160/550 intersection. This fully access-controlled facility improvement will begin at milepost 88.0 east of Durango and end at milepost 104.2 located east of Bayfield. The project length is 1.9km (1.2 mi) extending from milepost 16.6, located at the U.S. 160/550 (south) intersection, to milepost 15.4, located south of the U.S. 550/County Road 220 intersection. A Final Environmental Impact Statement for the project was approved on May 12, 2006. A Record of Decision was issued on November 7, 2006. The FHWA FEIS and ROD can be viewed and downloaded from the project Web site at *http://www.dot.state.co.us/US160/EIS/index.cfm* or viewed at public libraries in the project area. (Catalogue of Federal Domestic Assistance Program Number 20.205, Highway Planning and Construction. The regulations implementing Executive Order 12372 regarding intergovernmental consultation on Federal programs and activities apply to this program) Authority: U.S.C. 139(1)(1). David A. Nicol, Federal Highway Administration, Colorado Division Administrator, Lakewood, CO. [FR Doc. 07-2350 Filed 5-11-07; 8:45 am]
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9 references not yet in our index
- 17 CFR 260.7
- 17 CFR 240.6
- 17 CFR 240.19
- 23 CFR 630
- 49 CFR 1.48
- 42 USC 4321-4351
- 42 USC 7401-7671(q)
- 16 USC 1531-1544
- 33 USC 1251-1377
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