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Federal Register / Vol. 72, No.

126 / Monday, July 2, 2007 / Notices 36083

withdraw from trading an option issue change is available at the ISE, at the under the Act.7 The ISE represents that
within their appointment. Commission’s Public Reference Room, it submitted Form 19b–4(e) to the
and on the ISE’s Web site (http:// Commission on June 19, 2007.
IV. Conclusion
www.iseoptions.com/legal/ All of the applicable fees covered by
It is therefore ordered, pursuant to proposed_rule_changes.asp). this filing are identical to fees charged
Section 19(b)(2) of the Act,8 that the
II. Self-Regulatory Organization’s by the Exchange for all other Premium
proposed rule change (SR–BSE–2007–
09), as modified by Amendment No. 1, Statement of the Purpose of, and Products. Specifically, the Exchange is
is approved. Statutory Basis for, the Proposed Rule proposing to adopt an execution fee and
Change a comparison fee for all transactions in
For the Commission, by the Division of options on FCG, FIW, XME and MFX.8
Market Regulation, pursuant to delegated In its filing with the Commission, the
authority.9
The amount of the execution fee and
ISE included stat ements concerning the
comparison fee for products covered by
Florence E. Harmon, purpose of, and basis for, the proposed
this filing shall be $0.15 and $0.03 per
Deputy Secretary. rule change and discussed any
comments it received on the proposed contract, respectively, for all Public
[FR Doc. E7–12675 Filed 6–29–07; 8:45 am]
rule change. The text of these statements Customer Orders 9 and Firm Proprietary
BILLING CODE 8010–01–P
may be examined at the places specified orders. The amount of the execution fee
in Item IV below. The ISE has prepared and comparison fee for all ISE Market
SECURITIES AND EXCHANGE summaries, set forth in Sections A, B, Maker transactions shall be equal to the
COMMISSION and C below, of the most significant execution fee and comparison fee
aspects of such statements. currently charged by the Exchange for
[Release No. 34–55959; File No. SR–ISE– ISE Market Maker transactions in equity
2007–50] A. Self-Regulatory Organization’s options.10 Finally, the amount of the
Statement of the Purpose of, and execution fee and comparison fee for all
Self-Regulatory Organizations; Statutory Basis for, the Proposed Rule non-ISE Market Maker transactions shall
International Securities Exchange, Change
LLC; Notice of Filing and Immediate be $0.37 and $0.03 per contract,
Effectiveness of Proposed Rule 1. Purpose respectively.
Change Relating to Fee Changes The Exchange is proposing to amend Additionally, the Exchange has
its Schedule of Fees to establish fees for entered into a license agreement with
June 26, 2007. Keefe, Bruyette & Woods, Inc. in
transactions in options on the following
Pursuant to section 19(b)(1) of the connection with the listing and trading
four Premium Products: First Trust
Securities Exchange Act of 1934 (the of options on MFX. As with certain
ISE—Revere Natural Gas Index Fund
‘‘Act’’),1 and Rule 19b–4 thereunder,2 other licensed options, to defray the
(‘‘FCG’’), First Trust ISE Water Index
notice is hereby given that on June 19, licensing costs, the Exchange is
Fund (‘‘FIW’’), the SPDR S&P Metals &
2007, the International Securities adopting a surcharge fee of $0.10 per
Mining ETF (‘‘XME’’),6 and the KBW
Exchange, LLC (‘‘ISE’’ or ‘‘Exchange’’) contract for trading in options on MFX.
filed with the Securities and Exchange Mortgage Finance Index (‘‘MFX’’). The
Exchange represents that FCG, FIW, and The Exchange believes charging the
Commission (‘‘Commission’’) the participants that trade this instrument is
proposed rule change as described in XME are eligible for options trading
because they constitute ‘‘Fund Shares,’’ the most equitable means of recovering
Items I, II, and III below, which Items
as defined by ISE Rule 502(h). The the costs of the license. However,
have been substantially prepared by the
Exchange further represents that MFX because of competitive pressures in the
ISE. The ISE has designated this
meets the standards of ISE Rule 2002(b), industry, the Exchange proposes to
proposal as one establishing or changing
which allows the ISE to begin trading exclude Public Customer Orders from
a due, fee, or other charge applicable
only to a member under Section this product by filing Form 19b–4(e) at this surcharge fee. Accordingly, this
19(b)(3)(A)(ii) of the Act 3 and Rule 19b– least five business days after surcharge fee will only be charged to
commencement of trading this new Exchange members with respect to non-
4(f)(2) thereunder,4 which renders the
product pursuant to Rule 19b–4(e) Public Customer Orders (e.g., ISE
proposal effective upon filing with the
Commission. The Commission is Market Maker, non-ISE Market Maker &
publishing this notice to solicit
6 ‘‘Standard & Poor’s,’’ ‘‘S&P,’’ ‘‘S&P 500,’’ Firm Proprietary orders) and shall apply
‘‘Standard & Poor’s 500,’’ ‘‘Standard & Poor’s
comments on the proposed rule change Depositary Receipts,’’ ‘‘SPDR,’’ and ‘‘the S&P 7 17 CFR 240.19b–4(e).
from interested persons. Metals & Mining Select Industry Index,’’ are
8 These fees will be charged only to Exchange
trademarks of The McGraw-Hill Companies, Inc.
I. Self-Regulatory Organization’s (‘‘McGraw-Hill’’), and have been licensed for use by members. Under a pilot program that is set to expire
Statement of the Terms of Substance of State Street Bank and Trust in connection with the on July 31, 2007, these fees will also be charged to
listing and trading of XME. XME is not sponsored, Principal Orders and Principal Acting as Agent
the Proposed Rule Change Orders. See ISE Rule 1900(10). See also Securities
sold or endorsed by Standard & Poor’s, (‘‘S&P’’), a
The ISE is proposing to amend its division of McGraw-Hill, and S&P makes no Exchange Act Release No. 54204 (July 25, 2006), 71
representation regarding the advisability of FR 43548 (August 1, 2006) (SR–ISE–2006–38)
Schedule of Fees to establish fees for (‘‘Linkage Orders Pilot’’). Telephone conversation
investing in XME. McGraw-Hill and S&P have not
transactions in options on four Premium licensed or authorized ISE to: (i) engage in the between Samir Patel, Assistant General Counsel,
Products.5 The text of the proposed rule creation, listing, provision of a market for trading, ISE, and Sara Gillis, Attorney, Division of Market
marketing, and promotion of options on XME; or (ii) Regulation, Commission, on June 26, 2007.
9 ‘‘Public Customer Order’’ is defined in ISE Rule
8 15 U.S.C. 78s(b)(2). use and refer to any of their trademarks or service
9 17 marks in connection with the listing, provision of 100(a)(39) as an order for the account of a Public
CFR 200.30–3(a)(12).
a market for trading, marketing, and promotion of Customer. ‘‘Public Customer’’ is defined in ISE Rule
jlentini on PROD1PC65 with NOTICES

1 15 U.S.C. 78s(b)(1).
options on XME or with making disclosures 100(a)(38) as a person that is not a broker or dealer
2 17 CFR 240.19b–4.
concerning options on XME under any applicable in securities.
3 15 U.S.C. 78s(b)(3)(A)(ii).
federal or state laws, rules or regulations. McGraw- 10 The execution fee is currently between $0.21
4 17 CFR 240.19b–4(f)(2).
Hill and S&P do not sponsor, endorse, or promote and $0.12 per contract side, depending on the
5 ‘‘Premium Products’’ is defined in the Schedule such activity by ISE and are not affiliated in any Exchange Average Daily Volume, and the
of Fees as the products enumerated therein. manner with ISE. comparison fee is currently $0.03 per contract side.

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36084 Federal Register / Vol. 72, No. 126 / Monday, July 2, 2007 / Notices

to Principal Orders and Principal Acting including whether the proposed rule SECURITIES AND EXCHANGE
as Agent Orders.11 change is consistent with the Act. COMMISSION
Further, since options on XME and Comments may be submitted by any of
MFX are multiply-listed, the Payment the following methods: [Release No. 34–55953; File No. SR–NYSE–
for Order Flow fee shall apply to these
Electronic Comments 2007–46]
two products. The Exchange believes
the proposed rule change will further • Use the Commission’s Internet Self-Regulatory Organizations; New
the Exchange’s goal of introducing new comment form (http://www.sec.gov/ York Stock Exchange LLC; Notice of
products to the marketplace that are rules/sro.shtml); or Filing and Order Granting Accelerated
competitively priced. • Send an e-mail to rule- Approval of a Proposed Rule Change,
2. Statutory Basis comments@sec.gov. Please include File as Modified by Amendment No. 1
No. SR–ISE–2007–50 on the subject Thereto, Relating to the Listing and
The Exchange believes that the
line. Trading of Shares of the
proposed rule change is consistent with
the objectives of Section 6 of the Act,12 Paper Comments HealthSharesTM Orthopedic Repair
in general, and furthers the objectives of Exchange-Traded Fund
Section 6(b)(4),13 in particular, in that it • Send paper comments in triplicate
is designed to provide for the equitable to Nancy M. Morris, Secretary, June 25, 2007.
allocation of reasonable dues, fees, and Securities and Exchange Commission, Pursuant to Section 19(b)(1) of the
other charges among its members and Station Place, 100 F Street, NE.,
Securities Exchange Act of 1934
other persons using its facilities. Washington, DC 20549–1090.
(‘‘Act’’) 1 and Rule 19b–4 thereunder,2
All submissions should refer to File notice is hereby given that on May 21,
B. Self-Regulatory Organization’s
Number SR–ISE–2007–50. This file 2007, the New York Stock Exchange
Statement on Burden on Competition
number should be included on the LLC (‘‘NYSE’’ or ‘‘Exchange’’) filed with
The proposed rule change does not subject line if e-mail is used. To help the the Securities and Exchange
impose any burden on competition that Commission process and review your Commission (‘‘Commission’’) the
is not necessary or appropriate in comments more efficiently, please use proposed rule change as described in
furtherance of the purposes of the Act. only one method. The Commission will Items I and II below, which Items have
C. Self-Regulatory Organization’s post all comments on the Commission’s
been prepared substantially by NYSE.
Statement on Comments on the Internet Web site (http://www.sec.gov/
On May 31, 2007, NYSE filed
Proposed Rule Change Received From rules/sro.shtml). Copies of the
Amendment No. 1 to the proposed rule
Members, Participants or Others submission, all subsequent
amendments, all written statements change. This order provides notice of
The Exchange has not solicited, and with respect to the proposed rule the proposed rule change, as amended,
does not intend to solicit, comments on change that are filed with the and approves the proposed rule change
this proposed rule change. The Commission, and all written on an accelerated basis.
Exchange has not received any communications relating to the
unsolicited written comments from I. Self-Regulatory Organization’s
proposed rule change between the Statement of the Terms of Substance of
members or other interested parties. Commission and any person, other than the Proposed Rule Change
III. Date of Effectiveness of the those that may be withheld from the
Proposed Rule Change and Timing for public in accordance with the The Exchange proposes to list and
Commission Action provisions of 5 U.S.C. 552, will be trade shares of the HealthSharesTM
available for inspection and copying in Orthopedic Repair Exchange-Traded
Because the foregoing rule change
the Commission’s Public Reference Fund (the ‘‘Fund’’).3 The text of the
establishes or changes a due, fee, or
Room, 100 F Street, NE., Washington, proposal is available at NYSE, the
other charge imposed by the Exchange,
DC 20549, on official business days Commission’s Public Reference Room,
it has become effective pursuant to
between the hours of 10 a.m. and 3 p.m. and http://www.nyse.com.
section 19(b)(3)(A) of the Act 14 and
Copies of such filing also will be
Rule 19b–4(f)(2) 15 thereunder. At any II. Self-Regulatory Organization’s
available for inspection and copying at
time within 60 days of the filing of such Statement of the Purpose of, and
the principal office of the ISE. All
proposed rule change, the Commission Statutory Basis for, the Proposed Rule
comments received will be posted
may summarily abrogate such rule Change
without change; the Commission does
change if it appears to the Commission
not edit personal identifying
that such action is necessary or In its filing with the Commission, the
information from submissions. You
appropriate in the public interest, for Exchange included statements
should submit only information that
the protection of investors, or otherwise concerning the purpose of, and basis for,
you wish to make available publicly. All
in furtherance of the purposes of the the proposed rule change and discussed
submissions should refer to File
Act. any comments it received on the
Number SR–ISE–2007–50 and should be
IV. Solicitation of Comments submitted on or before July 23, 2007. proposed rule change. The text of these
statements may be examined at the
Interested persons are invited to For the Commission, by the Division of
submit written data, views, and Market Regulation, pursuant to delegated places specified in Item IV below, and
arguments concerning the foregoing, authority.16 the most significant aspects of such
Florence E. Harmon, statements are set forth in Sections A, B,
and C below.
jlentini on PROD1PC65 with NOTICES

11 See ISE Rule 1900(10). See also Linkage Orders


Deputy Secretary.
Pilot, supra note 5.
12 15 U.S.C. 78f.
[FR Doc. E7–12741 Filed 6–29–07; 8:45 am]
1 15U.S.C. 78s(b)(1).
13 15 U.S.C. 78f(b)(4). BILLING CODE 8010–01–P 2 17CFR 240.19b–4.
14 15 U.S.C. 78s(b)(3)(A). 3 The Fund is registered under the Investment
15 17 CFR 19b–4(f)(2). 16 17 CFR 200.30–3(a)(12). Company Act of 1940 (the ‘‘1940 Act’’).

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