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revisions to Phlx Rule 1092(c) that related to an 6 The Commission recently approved the
I. Introduction erroneous print disseminated by the underlying Exchange’s proposal to establish the position of
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On November 14, 2005, the market that is later cancelled or corrected by the neutral Referee who, among other things, would
underlying market and an erroneous quote in the review Floor Officials’ obvious error rulings. See
Philadelphia Stock Exchange, Inc. underlying market. Thus, the Exchange does not Securities Exchange Act Release No. 53548 (March
(‘‘Phlx’’ or ‘‘Exchange’’) filed with the propose to make any changes to Phlx Rule 1092(c). 24, 2006), 71 FR 16389 (March 31, 2006) (SR–Phlx–
5 Securities Exchange Act Release No. 53776 (May 2005–42).
8 17 CFR 200.30–3(a)(12). 9, 2006). 7 See, e.g., Exchange Rule 1014(c)(i)(A)(2).
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38442 Federal Register / Vol. 71, No. 129 / Thursday, July 6, 2006 / Notices
and the actual NBBO, the proposal that the Phlx’s obvious error rule is role as an accrediting entity, the
would revise the definition of the term consistent with the Options Intermarket Colorado Department of Human
‘‘Theoretical Price’’ to mean the mid- Linkage Plan, which requires exchanges Services will be accrediting or
point of the NBBO just prior to the to avoid trade-throughs. Accordingly, approving qualified adoption service
transaction. The Exchange believes that the Commission finds that the providers located in and licensed by the
this new definition should provide Exchange’s proposal is consistent with State of Colorado to enable them to
Exchange Floor Officials with a more the Act. provide adoption services in cases
accurate measure of the price on which subject to the Convention once the
to base their determination that a IV. Conclusion
Convention enters into force for the
transaction resulted from an obvious It is therefore ordered, pursuant to United States. As the U.S. Central
error. The Exchange also proposes to Section 19(b)(2) of the Act,12 that the Authority for the Convention, the
delete Commentary .02 to Phlx Rule proposed rule change (SR–Phlx–2005– Department will monitor the
1092 from the Rule.8 This Commentary 73), as amended, is approved. performance of the Colorado
sets forth how Theoretical Price would For the Commission, by the Division of Department of Human Services and
be determined under current Phlx Rule Market Regulation, pursuant to delegated approve fees charged by it as an
1092(c). authority.13 accrediting entity. The text of the
III. Discussion Nancy M. Morris, Memorandum of Agreement, signed on
Secretary. June 29, 2006 by Maura Harty, Assistant
The Commission finds that the
[FR Doc. E6–10532 Filed 7–5–06; 8:45 am] Secretary for Consular Affairs, U.S.
proposed rule change is consistent with
Department of State and signed on June
the requirements of the Act and the BILLING CODE 8010–01–P
13, 2006 by Marva Livingston
rules and regulations thereunder
Hammons, Executive Director,
applicable to a national securities
exchange 9 and, in particular, the DEPARTMENT OF STATE Department of Human Services, State of
requirements of Section 6(b) of the Colorado, is included at the end of this
[Public Notice: 5462] Notice. Also included at the end of the
Act 10 and the rules and regulations
thereunder. Specifically, the Memorandum of Agreement is its
Memorandum of Agreement Between Attachment 1, Colorado Revised
Commission finds that the proposal is the U.S. Department of State and the
consistent with Section 6(b)(5) of the Statutes § 26–6–104(6.5).
Colorado Department of Human
Act,11 in that the proposal promotes just Services Regarding Performance of FOR FURTHER INFORMATION CONTACT:
and equitable principles of trade, Duties as an Accrediting Entity Under Mikiko Stebbing at 202–736–9086.
removes impediments to and perfects the Intercountry Adoption Act of 2000 Hearing or speech-impaired persons
the mechanism of a free and open may use the Telecommunications
market and a national market system, AGENCY: Department of State. Devices for the Deaf (TDD) by contacting
and protects investors and the public ACTION: Notice. the Federal Information Relay Service at
interest. 1–800–877–8339.
The Commission considers that in SUMMARY: The Department of State (the
most circumstances trades that are Department) is the lead Federal agency SUPPLEMENTARY INFORMATION: The
executed between parties should be for implementation of the 1993 Hague Department, pursuant to section 202(a)
honored. On rare occasions, the price of Convention on Protection of Children of the IAA, must enter into an
the executed trade indicates an and Co-operation in Respect of agreement with at least one qualified
‘‘obvious error’’ may exist, suggesting Intercountry Adoption (the Convention) entity and designate it as an accrediting
that it is unrealistic to expect that the and the Intercountry Adoption Act of entity. Accrediting entities may be (1)
parties to the trade had come to a 2000 (IAA). Among other things, the nonprofit private entities with expertise
meeting of the minds regarding the IAA gives the Secretary of State in developing and administering
terms of the transaction. In the responsibility for the accreditation of standards for entities providing child
Commission’s view, the determination agencies and approval of persons to welfare services; or (2) State adoption
of whether an ‘‘obvious error’’ has provide adoption services under the licensing bodies that have expertise in
occurred should be based on specific Convention. The IAA requires the developing and administering standards
and objective criteria and subject to Department to enter into agreements for entities providing child welfare
specific and objective procedures. The with one or more qualified entities services and that accredit only agencies
Phlx’s proposal would provide specific under which such entities will perform located in that State. Colorado’s
and objective numerical criteria to be the tasks of accrediting agencies and Department of Human Services is a
used by Floor Officials to determine approving persons, monitoring State adoption licensing body with
whether a particular transaction compliance of such agencies and expertise in developing and
involved an obvious error. In addition, persons with applicable requirements, administering standards for entities
the Exchange’s proposal to base the and other related duties set forth in providing child welfare services and
definition of Theoretical Price on the section 202(b) of the IAA. This notice is only accredits agencies located in the
midpoint of the NBBO would ensure to inform the public that on June 29, State of Colorado. The final rule on
2006, the Department exercised its accreditation of agencies and approval
8 Phlx Rule 1092(b) would retain the provision
authority under the IAA and entered of persons (22 CFR Part 96) was
that if there are no quotes for comparison purposes, published in the Federal Register (71
two Floor Officials and designated personnel in the into an agreement with the Colorado
Exchange’s Market Surveillance Department would Department of Human Services under FR 8064–8066, February 15, 2006) and
determine Theoretical Price. which the Department designated the became effective on March 17, 2006.
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