[Federal Register Volume 59, Number 229 (Wednesday, November 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29464]
[[Page Unknown]]
[Federal Register: November 30, 1994]
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SECURITIES AND EXCHANGE COMMISSION
Self-Regulatory Organizations; Notice Regarding Outstanding
Applications for Unlisted Trading Privileges
November 23, 1994.
The recently enacted Unlisted Trading Privileges Act of 1994
(``Act''), Public Law 103-389 (codified as amended at 15 U.S.C. 78l (f)
(1) to (3) (1988)), which became effective on October 22, 1994,
authorizes any national securities exchange to extend unlisted trading
privileges to any security that is listed and registered on a national
securities exchange, otherwise registered pursuant to Section 12(g) of
the Securities Exchange Act of 1934, or exempt from registration, all
in accordance with the requirements and limitations of the Act and the
rules thereunder.\1\ Prior to the amendment, exchanges were required to
apply to the Securities and Exchange Commission (``Commission'') and
receive approval from the Commission before extending unlisted trading
privileges to any security. The Act eliminated these requirements.
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\1\The Act initially requires a national securities exchange to
wait until the third day of trading before extending unlisted
trading privileges to any security that is listed and registered on
another national securities exchange and is the subject of an
initial public offering. The Act directs the Securities and Exchange
Commission, however, to prescribe, before April 21, 1995, the
permanent period, if any, that exchanges must observe before
extending unlisted trading privileges to any such securities.
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As a result, any national securities exchange that has previously
applied to the Commission for approval of unlisted trading privileges
in any security may extend unlisted trading privileges to such security
in accordance with the terms of the Act, notwithstanding that the
Commission has yet to approve the exchange's outstanding
application.\2\ Accordingly, the Commission is publishing this notice
to inform interested persons that no further Commission action on these
applications is necessary. For further information, interested persons
may contact Glen P. Barrentine, 202/942.0145, Senior Counsel, Office of
Market Supervision, Division of Market Regulation, Securities and
Exchange Commission, Mail Stop 5-1, 450 Fifth Street, N.W., Washington
D.C. 20549.
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\2\The Commission has previously published notice of certain of
these outstanding applications. See Securities Exchange Act Release
No. 34787 (October 4, 1994); Release No. 34788 (October 4, 1994);
Release No. 34789 (October 4, 1994); Release No. 34794 (October 5,
1994); Release No. 34795 (October 5, 1994); Release No. 34796
(October 5, 1994); Release No. 34797 (October 5, 1994); Release No.
34816 (October 7, 1994); Release No. 34824 (October 12, 1994);
Release No. 34863 (October 19, 1994).
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 94-29464 Filed 11-29-94; 8:45 am]
BILLING CODE 8010-01-M
