

[Federal Register: July 13, 2006 (Volume 71, Number 134)]
[Notices]               
[Page 39694]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr13jy06-94]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54107; File No. SR-CHX-2006-18]

 
Self-Regulatory Organization; Chicago Stock Exchange, Inc.; Order 
Approving Proposed Rule Change Amending a Notice Provision Relating to 
the Renewal of Trading Permits

July 6, 2006.
    On May 10, 2006, the Chicago Stock Exchange, Inc. (``CHX'' 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 amend the 60-day notice requirement to cancel 
trading permits for 2006. The proposed rule change was published for 
comment in the Federal Register on June 1, 2006.\3\ The Commission 
received no comments regarding the proposal.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 53859 (May 24, 
2006), 71 FR 31241.
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    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities exchange.\4\ In 
particular, the Commission finds that the proposed rule change is 
consistent with Section 6(b)(5) of the Act,\5\ which requires that the 
rules of the an exchange be designed to promote just and equitable 
principles of trade, to remove impediments to and perfect the mechanism 
of a free and open market and a national securities system, and, in 
general, to protect investors and the public interest.
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    \4\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. See 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f(b)(5).
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    CHX Article II, Rule 3, requires Participants to provide CHX with 
60-days notice to cancel a trading permit. The Exchange proposes in 
Interpretation and Policy .01 to CHX Article II, Rule 3, to allow a 
Participant to cancel a trading permit in 2006 if the Participant 
provided notice to CHX at any time during the 60 days preceding 
February 9, 2006. According to CHX, CHX Article II, Rule 3, caused some 
confusion among its Participants. The Commission therefore finds that 
the proposed rule change is an appropriate one time relief to allow CHX 
Participants to cancel their trading permits.
    It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\6\ that the proposed rule change (SR-CHX-2006-18) be, and it 
hereby is, approved.
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    \6\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Jill M. Peterson,
Assistant Secretary.
[FR Doc. E6-11004 Filed 7-12-06; 8:45 am]

BILLING CODE 8010-01-P
