[Federal Register Volume 64, Number 172 (Tuesday, September 7, 1999)]
[Notices]
[Pages 48643-48644]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-23117]
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FEDERAL RESERVE SYSTEM
Notice To Engage in Certain Nonbanking Activities; Correction
This notice corrects a notice (FR Doc. 99-22282) published on page
46916 of the issue for Friday, August 27, 1999.
Under the Federal Reserve Bank of New York heading, the entry for
J.P. Morgan & Co., Incorporated, New York, New York, is revised to read
as follows:
A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior
Vice President) 33 Liberty Street, New York, New York 10045-0001:
1. J.P. Morgan & Co. Incorporated, New York, New York, and UBS AG,
Zurich, Switzerland (collectively, Notificants) have sought the Board's
approval under section 4(c)(8) of the Bank Holding Company Act (12
U.S.C. 1843(c)(8)) (BHC Act) and section
[[Page 48644]]
225.24 of the Board's Regulation Y (12 CFR 225.24), to acquire or
retain more than 20 percent of the voting shares of TP Group Limited,
Grand Cayman, Cayman Islands, and thereby acquire shares of its
subsidiary, Tradepoint Financial Networks plc, London, England
(Tradepoint). Tradepoint operates the Tradepoint Stock Exchange, an
electronic stock exchange for the trading of certain securities listed
on the London Stock Exchange. The Tradepoint Stock Exchange allows
members to electronically enter bids or offers on securities,
automatically matches bids and offers for execution, and engages in
other related activities. The Tradepoint Stock Exchange does not settle
the trades executed on the exchange; trades generally are settled
through the London Clearing House. The Tradepoint Stock Exchange is a
recognized investment exchange under Section 37(3) of the United
Kingdom Financial Services Act of 1986. Pursuant to an exemptive order
issued by the Securities and Exchange Commission, the Tradepoint Stock
Exchange is not registered as an exchange under the Securities Exchange
Act of 1934. The proposed activities would be conducted worldwide.
In publishing the proposal for comment, the Board does not take a
position on issues raised by the proposal. Notice of the proposal is
published solely to seek the views of interested persons on the issues
presented by the application, including whether the proposed activities
are ``so closely related to banking or managing or controlling banks as
to be a proper incident thereto'' for purposes of section 4(c)(8) of
the BHC Act. Notificants assert that the proposed activities are
permissible under section 225.28(b)(7) of the Board's Regulation Y.
Additional information concerning the proposals is contained in the
notices, which are available at the Federal Reserve Bank of New York.
The notice also will be available for inspection at the Board of
Governors. Any comments or requests for hearing should be submitted in
writing and received by Jennifer J. Johnson, Secretary, Board of
Governors of the Federal Reserve System, Washington, DC 20551, not
later than September 17, 1999.
Board of Governors of the Federal Reserve System, August 31,
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-23117 Filed 9-3-99; 8:45 am]
BILLING CODE 6210-01-F
