[Federal Register Volume 62, Number 9 (Tuesday, January 14, 1997)]
[Notices]
[Pages 1937-1938]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-808]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-38125; File No. SR-CHX-96-32]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change Relating to a Fee Waiver by the
Chicago Stock Exchange, Incorporated
January 6, 1997.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ notice is hereby given that on December 17, 1996, the
Chicago Stock Exchange, Incorporated (``CHX'' 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 self-regulatory organization. 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. Sec. 78s(b)(1).
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to waive certain member charges in its
Membership Dues and Fees Schedule. Specifically, the Exchange proposes
to waive all membership dues for the month of December. The Exchange
also proposes to waive all floor telephone booth and post space charges
for the fourth quarter of 1996 (i.e., October, November and December).
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 self-regulatory organization
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 self-regulatory organization
has prepared summaries, set forth in sections A, B and C below, of the
most significant aspects of such statements.
[[Page 1938]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The purpose of the proposed rule change is to waive membership dues
for the month of December, 1996, and waive floor telephone booth and
post space charges for the fourth quarter of 1996 because the Exchange
has already adequately covered its costs associated with these services
for the year.
2. Statutory Basis
The proposed rule change is consistent with Section 6(b)(4) of the
Act \2\ in that it provides for the equitable allocation of reasonable
dues, fees and other charges among its members and issuers and persons
using its facilities.
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\2\ 15 U.S.C. Sec. 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 a burden on competition.
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.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing rule change establishes or changes a due, fee, or
other charge imposed by the Exchange and therefore has become effective
pursuant to Section 19(b)(3)(A) of the Act \3\ and subparagraph (e) of
Rule 19b-4 \4\ thereunder. At any time within 60 days of the filing of
such 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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\3\ 15 U.S.C. Sec. 78s(b)(3)(A).
\4\ 17 CFR 19b-4(e).
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IV. Solicitation of Comments
Interested persons are invited to submit written data, views and
arguments concerning the foregoing. Persons making written submission
should file six copies thereof with the Secretary, Securities and
Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549.
Copies of the submissions, 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. Sec. 552, will be available for inspection and copying in
the Commission's Public Reference Room, 450 Fifth Street, N.W.,
Washington, D.C. Copies of such filing also will be available for
inspection and coping at the Exchange. All submissions should refer to
File No. SR-CHX-96-32 and should be submitted by January 27, 1997.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\5\
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\5\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-808 Filed 1-13-97; 8:45 am]
BILLING CODE 8010-01-M
