[Federal Register: January 30, 2006 (Volume 71, Number 19)]
[Notices]
[Page 4947-4949]
[DOCID:fr30ja06-108]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53168; File No. SR-CBOE-2006-06]

Self-Regulatory Organizations; Chicago Board Options Exchange,
Incorporated; Notice of Filing and Immediate Effectiveness of a
Proposed Rule Change Relating to Its Marketing Fee Program

January 23, 2006.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on January 12, 2006, 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 prepared by the Exchange. The CBOE has designated this proposal as
one establishing or changing a due, fee, or other charge imposed by the
CBOE under Section 19(b)(3)(A)(ii) of the Act \3\ and Rule 19b-4(f)(2)
thereunder,\4\ which renders the proposal effective upon filing with
the Commission. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \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).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The CBOE proposes to amend its Fees Schedule and its marketing fee
program. Below is the text of the proposed rule change. Proposed new
language is in italics; deletions are in [brackets].

CHICAGO BOARD OPTIONS EXCHANGE, INC.

FEES SCHEDULE

[December 26, 2005] January 12, 2006

1. No Change.
2. MARKETING FEE (6)(16)......................................      $.65
3.-4. No Change.

FOOTNOTES:

    (1)-(5) No Change.
    (6) Commencing on December 12, 2005, the Marketing Fee will be
assessed only on transactions of Market-Makers, RMMs, e-DPMs, DPMs, and
LMMs resulting from orders for less than 1,000 contracts (i) from
payment accepting firms, or (ii) that have designated a ``Preferred
Market-Maker'' under CBOE Rule 8.13 at the rate of $.65 per contract on
all classes of equity options, options on HOLDRs, options on SPDRs, and
options on DIA. The fee will not apply to Market-Maker-to-Market-Maker
transactions or transactions resulting from P/A orders. This fee shall
not apply to index options and options on ETFs (other than options on
SPDRs and options on DIA). A Preferred Market-Maker will only be given
access to the marketing fee funds generated from a Preferred order if
the Preferred Market-Maker has an appointment in the class in which the
Preferred order is received and executed. If less than 80% of the
marketing fee funds are paid out by the DPM/LMM or Preferred Market-
Maker in a given month, then the Exchange would refund such surplus at
the end of the month on a pro rata basis based upon contributions made
by the Market-Makers, RMMs, e-DPMs, DPMs and LMMs. However, if 80% or
more of the accumulated funds in a given month are paid out by the DPM/
LMM or Preferred Market-Maker, there will not be a rebate for that
month and the funds will carry over and will be included in the pool of
funds to be used by the DPM/LMM or Preferred Market-Maker the following
month. At the end of each quarter, the Exchange would then refund any
surplus, if any, on a pro rata basis based upon contributions made by
the Market-Makers, RMMs, DPMs, e-DPMs and LMMs. CBOE's marketing fee
program as described above will be in effect until June 2, 2006.

Remainder of Fees Schedule--No change.

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 CBOE 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
    On December 12, 2005, CBOE amended its marketing fee program in a
number of respects.\5\ CBOE states that, as amended, the fee is
assessed upon DPMs, LMMs, e-DPMs, RMMs, and Market-Makers at the rate
of $.65 per contract on transactions of Market-Makers, RMMs, e-DPMs,
DPMs, and LMMs resulting from orders for less than 1,000 contracts (i)
from payment accepting firms (``PAFs'') or (ii) that have designated a
``Preferred Market-Maker'' under CBOE Rule 8.13 (``Preferred orders'').
CBOE notes that the fee does not apply to Market-Maker-to-Market-Maker
transactions (which includes all transactions between any combination
of DPMs, e-DPMs, RMMs, LMMs, and Market-Makers), or transactions of
Market-Makers, RMMs, e-DPMs, DPMs, and LMMs resulting from inbound P/A
orders. CBOE states that the marketing fee is assessed in all equity
option classes and options on HOLDRs[supreg], options on SPDRs[supreg],
and options on DIA.
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    \5\ See Securities Exchange Act Release No. 53016 (December 22,
2005), 70 FR 77209 (December 29, 2005) (SR-CBOE-2005-107).
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    With respect to the manner in which funds generated by the
marketing fee will be allocated between the DPM or LMM and Preferred
Market-Makers, CBOE states that it amended its marketing fee program to
provide that:
     If a Market-Maker (including any DPM, e-DPM, LMM, and RMM)
is designated as a Preferred Market-Maker on an order for less than
1,000 contracts, the Market-Maker will be given access to the marketing
fee funds generated from the Preferred order, even if the Preferred
Market-Maker did not participate in the execution of the Preferred
order because the Market-Maker was not quoting at the NBBO at the time
the Preferred order was received on CBOE; and
     The DPM or LMM, as applicable, will be given access to the
marketing fee funds generated from all other orders for less than 1,000
contracts from PAFs in its appointed classes in a particular trading
station.
    CBOE now proposes to amend its marketing fee program to make clear
that a Preferred Market-Maker would only be given access to the
marketing fee funds generated from a Preferred order if the Preferred
Market-Maker has an appointment in the class in which the Preferred
order is received and executed. As before, to receive access to the
funds, the Preferred Market-Maker would not be required to participate
in the execution of the Preferred order if the Market-Maker was not
quoting at the NBBO at the time the Preferred order was received on
CBOE. However, the Preferred Market-Maker would have to have an
appointment in the option class in order to receive access to the
marketing fee funds. CBOE states that, if a Preferred Market-Maker does
not have an appointment in the option class in which a Preferred order
designating that Market-Maker as the ``Preferred Market-Maker'' is
received and executed, then the funds generated from the order would be
provided to the DPM or LMM. CBOE believes it is appropriate and
reasonable to require that a Preferred Market-Maker have an appointment
in an option class (and presumably be meeting the Market-Maker's
obligations under CBOE's rules), in order to receive access to the
marketing fee funds.
    CBOE states that it is not amending its marketing fee program in
any other respect.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b)

of the Act,\6\ in general, and furthers the objectives of Section
6(b)(4) of the Act,\7\ in particular, in that it is designed to provide
for the equitable allocation of reasonable dues, fees, and other
charges among its members.
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    \6\ 15 U.S.C. 78f(b).
    \7\ 15 U.S.C. 78f(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any inappropriate burden on competition not necessary or
appropriate in furtherance of the purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

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

    The foregoing proposed rule change has been designated as a fee
change pursuant to Section 19(b)(3)(A)(ii) of the Act \8\ and Rule 19b-
4(f)(2) \9\ thereunder, because it establishes or changes a due, fee,
or other charge imposed by the Exchange. Accordingly, the proposal will
take effect upon filing with the Commission. At any time within 60 days
of the filing of such proposed rule change the Commission may summarily
abrogate such rule change if it appears to the Commission that such
action is necessary or appropriate in the public interest, for the
protection of investors, or otherwise in furtherance of the purposes of
the Act.
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    \8\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \9\ 17 CFR 240.19b-4(f)(2).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change 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<EMAIL_ADDRESS>Please include

File Number SR-CBOE-2006-06 on the subject line.

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.

All submissions should refer to File Number SR-CBOE-2006-06. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml
). Copies of the submission, all subsequent amendments, all

written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for inspection and
copying in the Commission's Public Reference Room. Copies of such
filing also will be available for inspection and copying at the
principal office of the CBOE. 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-CBOE-2006-06 and should be submitted on or before
February 21, 2006.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\10\
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    \10\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-1089 Filed 1-27-06; 8:45 am]

BILLING CODE 8010-01-P


[Federal Register Volume 84, Number 131 (Tuesday, July 9, 2019)]
[Notices]
[Page 32766]
[FR Doc No: 2019-14592]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4420-DR; Docket ID FEMA-2019-0001]

Nebraska; Amendment No. 7 to Notice of a Major Disaster
Declaration

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This notice amends the notice of a major disaster declaration
for the State of Nebraska (FEMA-4420-DR), dated March 21, 2019, and
related determinations.

DATES: This amendment was issued June 4, 2019.

FOR FURTHER INFORMATION CONTACT: Dean Webster, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street SW,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The notice of a major disaster declaration
for the State of Nebraska is hereby amended to include the following
area among those areas determined to have been adversely affected by
the event declared a major disaster by the President in his declaration
of March 21, 2019.

    Holt County for Individual Assistance (already designed for
Public Assistance).

    The following Catalog of Federal Domestic Assistance Numbers
(CFDA) are to be used for reporting and drawing funds: 97.030,
Community Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis
Counseling; 97.033, Disaster Legal Services; 97.034, Disaster
Unemployment Assistance (DUA); 97.046, Fire Management Assistance
Grant; 97.048, Disaster Housing Assistance to Individuals and
Households in Presidentially Declared Disaster Areas; 97.049,
Presidentially Declared Disaster Assistance--Disaster Housing
Operations for Individuals and Households; 97.050 Presidentially
Declared Disaster Assistance to Individuals and Households--Other
Needs; 97.036, Disaster Grants--Public Assistance (Presidentially
Declared Disasters); 97.039, Hazard Mitigation Grant.

Pete Gaynor,
Acting Administrator, Federal Emergency Management Agency.
[FR Doc. 2019-14592 Filed 7-8-19; 8:45 am]
 BILLING CODE 9111-23-P