[Federal Register Volume 62, Number 217 (Monday, November 10, 1997)]
[Notices]
[Page 60542]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29602]
[[Page 60542]]
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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-39289; File No. SR-CBOE-97-52]
Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto by
the Chicago Board Options Exchange, Incorporated Relating to the
Addition of Martin Luther King, Jr. Day as an Exchange Holiday
October 31, 1997.
Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act''), notice is hereby given that on October 2, 1997, 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. On October 31, 1997, the
Exchange filed with the Commission Amendment No. 1 to the proposed rule
change.\2\ 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\ Amendment No. 1 provided a statutory basis for the proposed
rule change. See Letter from Mark A. Koerner, Attorney, Exchange, to
Michael L. Loftus, Attorney, Division of Market Regulation,
Commission, dated October 27, 1997.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange seeks to amend Interpretation .03 under Exchange Rule
6.1 to include Martin Luther King, Jr. Day among the Exchange Holidays
on which it is closed for business.
The text of the proposed rule change is available at the Office of
the Secretary, the Exchange and at the Commission.
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 Exchange 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
The Exchange proposes to amend Interpretation .03 under Rule 6.1 to
include Martin Luther King, Jr. Day among the Exchange holidays on
which the Exchange is closed for business. The Exchange will observe
the annual holiday on the third Monday in January.
2. Statutory Basis
The Exchange represents that the proposed rule change is consistent
with Section 6(b) \3\ of the Act, in general, and furthers the
objectives of Section 6(b)(5) \4\ of the Act, in particular, in that it
is designed to perfect the mechanism of a free and open market, and to
protect investors and the public interest.
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\3\ 15 U.S.C. 78f(b).
\4\ 15 U.S.C. 78f(b)(5).
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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.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received from Members, Participants, or Others
The Exchange did not solicit or receive written comments with
respect to the proposed rule change.
The foregoing rule change is concerned solely with the
administration of the Exchange and, therefore, has become effective
pursuant to Section 19(b)(3)(A) \5\ of the Act and subparagraph (e) of
Rule 19b-4 \6\ thereunder. At any time within 60 days of the filing of
the proposed rule change, the Commission may summarily abroagate 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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\5\ 15 U.S.C. 78s(b)(3)(A).
\6\ 17 CFR 240.19b-4(e).
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IV. Solicitation of Comments
Intersted persons are invited to submit written data, views, and
arguments concerning the foregoing. Persons making written submissions
should file six copies thereof with the Secretary, Securities and
Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549.
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 Section, 450 Fifth Street, N.W.,
Washington, D.C. 20549. Copies of such filing will also be available
for inspection and copying at the principal office of the Exchange. All
submissions should refer to the File No. SR-CBOE-97-52 and should be
submitted by December 1, 1997.
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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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 97-29602 Filed 11-7-97; 8:45 am]
BILLING CODE 8010-01-M
