Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Relating to Limitation of the Net Inbound ITS Credit to Certain Phlx and SCCP Fees and Transaction-Related Charges, 7993-7994 [E5-646]
Download as PDF
Federal Register / Vol. 70, No. 31 / Wednesday, February 16, 2005 / Notices
For the Commission by the Division of
Market Regulation, pursuant to delegated
authority.6
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–640 Filed 2–15–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51179; File No. SR–Phlx–
2004–95]
Self-Regulatory Organizations;
Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate
Effectiveness of Proposed Rule
Change and Amendment No. 1
Relating to Limitation of the Net
Inbound ITS Credit to Certain Phlx and
SCCP Fees and Transaction-Related
Charges
February 9, 2005.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934
(‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on December
30, 2004, the Philadelphia Stock
Exchange, Inc. (‘‘Phlx’’ or ‘‘Exchange’’)
filed with the Securities and Exchange
Commission (‘‘Commission’’) the
proposed rule change as described in
Items I and II below, which Items have
been prepared by the Phlx. On January
24, 2005, the Exchange filed
Amendment No. 1.3 The Commission is
publishing this notice to solicit
comments on the proposed rule change,
as amended, from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange proposes to revise its
schedule of fees to limit the Net
Inbound Intermarket Trading System
(‘‘ITS’’) 4 Credit (‘‘ITS Credit’’) 5 to
6 17
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 Amendment No. 1 clarified certain terminology
used in the proposed rule change and slightly
changed the text of the rule.
4 ITS is an order routing network designed to
facilitate intermarket trading in exchange-listed
equity securities among participating self-regulatory
organizations based on current quotation
information emanating from their markets.
5 Currently, the ITS Credit (which is calculated on
a monthly basis) is: $0.30 per 100 shares on the
excess, if any, of the number of inbound ITS shares
executed compared to the number of outbound ITS
shares sent and executed on a monthly basis. The
outbound ITS fee (‘‘Outbound ITS Fee’’) for PACE
orders (PACE is the Exchange’s electronic order
routing, delivery, execution, and reporting system
for equities) sent over ITS and containing customer
clearing information is: $0.60 per 100 shares for up
to 501 shares and $0.30 per 100 shares for 501 to
4,999 shares. See Securities Exchange Act Release
1 15
VerDate jul<14>2003
12:44 Feb 15, 2005
Jkt 205001
certain Phlx and Stock Clearing
Corporation of Philadelphia (‘‘SCCP’’) 6
fees and transaction-related charges.
Specifically, the proposal limits the ITS
Credit to the amount of Phlx Permit
Fees, Phlx Outbound ITS Fees, SCCP
Trade Recording Fees, SCCP Value Fees,
SCCP Transaction Charges (Remote
Specialist Only), SCCP ETF Fees
(related to NASDAQ-100 Trust, Series 1
(‘‘QQQ’’),7 Standard & Poor’s Depository
Receipts (‘‘SPDRs’’),8 and
DIAMONDS Exchange Traded Funds
(‘‘DIAMONDS’’)) 9 incurred in the
same month that the credit is earned.10
On a monthly basis, ITS Credit in excess
of the amount charged for the fees may
not be used for any other purpose and
may not be carried forward.11 The
proposed amendment is scheduled to
become effective for transactions
occurring in February, 2005.
No. 45388 (February 4, 2002), 67 FR 6310 (February
11, 2002) SR–Phlx–2001–121).
6 SCCP, a subsidiary of Phlx, is a registered
clearing agency.
7 The Nasdaq-100, The Nasdaq-100 Index,
Nasdaq The Nasdaq Stock Market, Nasdaq 100
Shares sm, Nasdaq-100 Trust sm, Nasdaq-100 Index
Tracking Stock sm and QQQ sm are trademarks or
service marks of The Nasdaq Stock Market, Inc.
(‘‘Nasdaq’’) and have been licensed for use for
certain purposes by the Phlx pursuant to a License
Agreement with Nasdaq. The Nasdaq-200 Index
(‘‘Index’’) is determined, composed, and calculated
by Nasdaq without regard to the licensee of the
product, the Nasdaq-100 Trust sm, or the beneficial
owners of Nasdaq-100 Shares sm. Nasdaq has
complete control and sole discretion in
determining, comprising or calculating the Index or
in modifying in any way its method for
determining, comprising or calculating the Index in
the future.
8 ‘‘Standard & Poor’s,’’ ‘‘S&P,’’ ‘‘S&P 500,’’
‘‘Standard & Poor’s 500’’, and ‘‘500’’ are
trademarks of The McGraw-Hill Companies, Inc.,
and have been licensed for use by the Phlx, in
connection with the listing and trading of SPDRs,
on the Phlx. These products are not sponsored, sold
or endorsed by Standard & Poor’s (‘‘S&P’’), a
division of The McGraw-Hill Companies, Inc., and
S&P makes no representation regarding the
advisability of investing SPDRs.
9 ‘‘Dow Jones ,’’ ‘‘The Dow SM,’’ ‘‘Dow 30 SM,’’
‘‘Dow Jones Industrial Average SM’’, ‘‘Dow Jones
Industrials SM,’’ ‘‘DJIA SM,’’ ‘‘DIAMONDS ,’’ and
‘‘The Market’s Measure’’ are trademarks of Dow
Jones & Company, Inc. (‘‘Dow Jones’’) and have
been licensed for use for certain purposes by the
Phlx, pursuant to a License Agreement with Dow
Jones. The DIAMONDS Trust, based on the DJIA,
is not sponsored, endorsed, sold or promoted by
Dow Jones, and Dow Jones makes no representation
regarding the advisability of investing in the
DIAMONDS Trust.
10 SCCP is simultaneously submitting a proposed
rule change that adds reference to the ITS Credit in
the SCCP Fee Schedule and also renames fees
related to certain products as ‘‘ETF Fees.’’ See SR–
SCCP–2004–05.
11 Thus, for example, if an equity specialist had
a monthly ITS Credit of $30,000 and monthly Phlx
and SCCP charges that were eligible to be reduced
by the ITS Credit of $5,000 and $20,000,
respectively, the equity specialist would receive a
credit of $25,000, and the unused credit amount of
$5,000 could not be used for any purpose.
PO 00000
Frm 00072
Fmt 4703
Sfmt 4703
7993
The text of the proposed rule change
is available on the Phlx’s Web site
https://www.phlx.com, at the Phlx’s
Office of the Secretary, and at the
Commission’s Public Reference Room.
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
Phlx 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 Phlx 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 purpose of the proposed rule
change is to continue encouraging ITS
trades by allowing equity specialists to
get an ITS Credit, but to limit the credit
in a reasonable fashion so as not to
financially burden the Exchange,
particularly in light of the change in
equity business on the Exchange.
Specifically, while the current ITS Fee
and ITS Credit methodology was
practical when instituted in 2002,12 the
equity business mix on the Exchange
has changed, such that the ITS Credit is
now substantially greater than the ITS
Fee, with the Exchange generally having
to credit substantial amounts to equity
specialists. The Exchange is therefore
constricting the amount of the ITS
Credit, which will continue to be
calculated on a monthly basis, such that
the credit is limited as described above.
The fees to which the ITS Credit is now
limited reflect the most fundamental
fees applicable to equity specialists.
2. Statutory Basis
The Exchange believes that the
proposed rule change is consistent with
Section 6(b) of the Act 13 in general, and
furthers the objectives of Section 6(b)(4)
of the Act 14 in particular, in that it is
an equitable allocation of reasonable
fees among Exchange members.
12 See Securities Exchange Act Release No. 45388
(February 4, 2002), 67 FR 6310 (February 11, 2002)
(SR–Phlx–2001–121).
13 15 U.S.C. 78f(b).
14 15 U.S.C. 78f(b)(4).
E:\FR\FM\16FEN1.SGM
16FEN1
7994
Federal Register / Vol. 70, No. 31 / Wednesday, February 16, 2005 / Notices
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
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change
has become effective pursuant to
Section 19(b)(3)(A) of the Act 15 and
paragraph (f) of Rule 19b–4
thereunder,16 because it establishes or
changes a due, fee, or other charge
imposed by the Phlx. At any time
within 60 days of the filing of the
proposed 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.17
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change, as amended, is consistent with
the Act. Comments may be submitted by
any of the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
• Send an e-mail to rulecomments@sec.gov. Please include File
Number SR–Phlx–2004–95 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
450 Fifth Street, NW., Washington, DC
20549–0609.
All submissions should refer to File
Number SR–Phlx–2004–95. This file
number should be included on the
subject line if e-mail is used. To help the
15 15
U.S.C. 78s(b)(3)(A).
16 17 CFR 240.19b–4(f)(2).
17 For purposes of claculating the 60-day
abrogation period, the Commission considers the
proposed rule change to have been filed on January
24, 2005 when Amendment No. 1 was filed.
VerDate jul<14>2003
12:44 Feb 15, 2005
Jkt 205001
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). 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
Room. Copies of the filing also will be
available for inspection and copying at
the principal office of the Phlx. All
comments received will be posted
without change; the Commission does
not edit personal identifying
information from submissions. You
should submit only information that
you wish to make available publicly. All
submissions should refer to File
Number SR–Phlx–2004–95 and should
be submitted on or before March 9,
2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.18
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–646 Filed 2–15–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–51182; File No. SR–SCCP–
2004–04]
Self-Regulatory Organizations; Stock
Clearing Corporation of Philadelphia;
Notice of Filing and Immediate
Effectiveness of a Proposed Rule
Change Relating to Adoption of a New
Per Side Transaction Charge for
Remote Specialist Units
February 10, 2005.
Pursuant to Section 19(b)(1) of 1934
(‘‘Act’’),1 notice is hereby given that on
December 29, 2004, the Stock Clearing
Corporation of Philadelphia (‘‘SCCP’’)
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 primarily by SCCP.
The Commission is publishing this
notice to solicit comments on the
PO 00000
18 17
1 15
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
Frm 00073
Fmt 4703
Sfmt 4703
proposed rule change from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
SCCP will amend its schedule of fees
by adding a new transaction fee
applicable to remote specialists that
deliver certain types of orders to the
Philadelphia Stock Exchange (‘‘Phlx’’)
over PACE.2
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission,
SCCP 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. SCCP has prepared
summaries, set forth in sections A, B,
and C below, of the most significant
aspects of such statements.3
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
Under the proposed rule change,
SCCP will add a $0.15 per Program
Trading Side transaction fee. Program
Trading Sides are defined as market
orders that are sent by an order flow
provider to a remote specialist through
PACE pursuant to the order flow
provider’s computerized trading
methodology that is based on a
predetermined algorithm.4 In order for
the Program Trading Sides to qualify for
the $0.15 fee, the order flow provider
sending the Program Trading Sides must
be affiliated with the remote specialist
to whom the Program Trading Sides are
directed.
The purpose of this new fee is to
provide an incentive for remote
specialists to generate additional
volume by attracting additional Program
Trading Sides. Pursuant to the rule
change, remote specialists will be
charged a fee of $0.15 per trade side for
Program Trading Sides (both odd-lots
and round-lots) instead of the current
fee of $0.30 per round-lot trade side and
$0.10 per odd-lot trade side. For a given
month, the fee for each remote specialist
will be capped at $10 per day per
2 PACE is Phlx’s automated order routing,
delivery, execution, and reporting system for
equities. Phlx Rule 229.
3 The Commission has modified the text of the
summaries prepared by SCCP.
4 Phlx Rules 229 and 229A govern the handling
of orders received through PACE.
E:\FR\FM\16FEN1.SGM
16FEN1
Agencies
[Federal Register Volume 70, Number 31 (Wednesday, February 16, 2005)]
[Notices]
[Pages 7993-7994]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-646]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-51179; File No. SR-Phlx-2004-95]
Self-Regulatory Organizations; Philadelphia Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change
and Amendment No. 1 Relating to Limitation of the Net Inbound ITS
Credit to Certain Phlx and SCCP Fees and Transaction-Related Charges
February 9, 2005.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 30, 2004, the Philadelphia Stock Exchange, Inc. (``Phlx''
or ``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the Phlx. On January 24,
2005, the Exchange filed Amendment No. 1.\3\ The Commission is
publishing this notice to solicit comments on the proposed rule change,
as amended, from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ Amendment No. 1 clarified certain terminology used in the
proposed rule change and slightly changed the text of the rule.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange proposes to revise its schedule of fees to limit the
Net Inbound Intermarket Trading System (``ITS'') \4\ Credit (``ITS
Credit'') \5\ to certain Phlx and Stock Clearing Corporation of
Philadelphia (``SCCP'') \6\ fees and transaction-related charges.
Specifically, the proposal limits the ITS Credit to the amount of Phlx
Permit Fees, Phlx Outbound ITS Fees, SCCP Trade Recording Fees, SCCP
Value Fees, SCCP Transaction Charges (Remote Specialist Only), SCCP ETF
Fees (related to NASDAQ-100 Trust, Series 1 (``QQQ''),\7\ Standard &
Poor's Depository Receipts[reg] (``SPDRs''),\8\ and DIAMONDS[reg]
Exchange Traded Funds (``DIAMONDS[reg]'')) \9\ incurred in the same
month that the credit is earned.\10\ On a monthly basis, ITS Credit in
excess of the amount charged for the fees may not be used for any other
purpose and may not be carried forward.\11\ The proposed amendment is
scheduled to become effective for transactions occurring in February,
2005.
---------------------------------------------------------------------------
\4\ ITS is an order routing network designed to facilitate
intermarket trading in exchange-listed equity securities among
participating self-regulatory organizations based on current
quotation information emanating from their markets.
\5\ Currently, the ITS Credit (which is calculated on a monthly
basis) is: $0.30 per 100 shares on the excess, if any, of the number
of inbound ITS shares executed compared to the number of outbound
ITS shares sent and executed on a monthly basis. The outbound ITS
fee (``Outbound ITS Fee'') for PACE orders (PACE is the Exchange's
electronic order routing, delivery, execution, and reporting system
for equities) sent over ITS and containing customer clearing
information is: $0.60 per 100 shares for up to 501 shares and $0.30
per 100 shares for 501 to 4,999 shares. See Securities Exchange Act
Release No. 45388 (February 4, 2002), 67 FR 6310 (February 11, 2002)
SR-Phlx-2001-121).
\6\ SCCP, a subsidiary of Phlx, is a registered clearing agency.
\7\ The Nasdaq-100[reg], The Nasdaq-100 Index[reg], Nasdaq[reg]
The Nasdaq Stock Market[reg], Nasdaq 100 Shares sm,
Nasdaq-100 Trust sm, Nasdaq-100 Index Tracking Stock
sm and QQQ sm are trademarks or service marks
of The Nasdaq Stock Market, Inc. (``Nasdaq'') and have been licensed
for use for certain purposes by the Phlx pursuant to a License
Agreement with Nasdaq. The Nasdaq-200 Index[reg] (``Index'') is
determined, composed, and calculated by Nasdaq without regard to the
licensee of the product, the Nasdaq-100 Trust sm, or the
beneficial owners of Nasdaq-100 Shares sm. Nasdaq has
complete control and sole discretion in determining, comprising or
calculating the Index or in modifying in any way its method for
determining, comprising or calculating the Index in the future.
\8\ ``Standard & Poor's[reg],'' ``S&P[reg],'' ``S&P 500[reg],''
``Standard & Poor's 500[reg]'', and ``500'' are trademarks of The
McGraw-Hill Companies, Inc., and have been licensed for use by the
Phlx, in connection with the listing and trading of SPDRs, on the
Phlx. These products are not sponsored, sold or endorsed by Standard
& Poor's (``S&P''), a division of The McGraw-Hill Companies, Inc.,
and S&P makes no representation regarding the advisability of
investing SPDRs.
\9\ ``Dow Jones [reg],'' ``The Dow SM,'' ``Dow 30
SM,'' ``Dow Jones Industrial Average SM'',
``Dow Jones Industrials SM,'' ``DJIA SM,''
``DIAMONDS [reg],'' and ``The Market's Measure[reg]'' are trademarks
of Dow Jones & Company, Inc. (``Dow Jones'') and have been licensed
for use for certain purposes by the Phlx, pursuant to a License
Agreement with Dow Jones. The DIAMONDS Trust, based on the DJIA, is
not sponsored, endorsed, sold or promoted by Dow Jones, and Dow
Jones makes no representation regarding the advisability of
investing in the DIAMONDS Trust.
\10\ SCCP is simultaneously submitting a proposed rule change
that adds reference to the ITS Credit in the SCCP Fee Schedule and
also renames fees related to certain products as ``ETF Fees.'' See
SR-SCCP-2004-05.
\11\ Thus, for example, if an equity specialist had a monthly
ITS Credit of $30,000 and monthly Phlx and SCCP charges that were
eligible to be reduced by the ITS Credit of $5,000 and $20,000,
respectively, the equity specialist would receive a credit of
$25,000, and the unused credit amount of $5,000 could not be used
for any purpose.
---------------------------------------------------------------------------
The text of the proposed rule change is available on the Phlx's Web
site https://www.phlx.com, at the Phlx's Office of the Secretary, and at
the Commission's Public Reference Room.
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 Phlx 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 Phlx 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 purpose of the proposed rule change is to continue encouraging
ITS trades by allowing equity specialists to get an ITS Credit, but to
limit the credit in a reasonable fashion so as not to financially
burden the Exchange, particularly in light of the change in equity
business on the Exchange. Specifically, while the current ITS Fee and
ITS Credit methodology was practical when instituted in 2002,\12\ the
equity business mix on the Exchange has changed, such that the ITS
Credit is now substantially greater than the ITS Fee, with the Exchange
generally having to credit substantial amounts to equity specialists.
The Exchange is therefore constricting the amount of the ITS Credit,
which will continue to be calculated on a monthly basis, such that the
credit is limited as described above. The fees to which the ITS Credit
is now limited reflect the most fundamental fees applicable to equity
specialists.
---------------------------------------------------------------------------
\12\ See Securities Exchange Act Release No. 45388 (February 4,
2002), 67 FR 6310 (February 11, 2002) (SR-Phlx-2001-121).
---------------------------------------------------------------------------
2. Statutory Basis
The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act \13\ in general, and furthers the
objectives of Section 6(b)(4) of the Act \14\ in particular, in that it
is an equitable allocation of reasonable fees among Exchange members.
---------------------------------------------------------------------------
\13\ 15 U.S.C. 78f(b).
\14\ 15 U.S.C. 78f(b)(4).
---------------------------------------------------------------------------
[[Page 7994]]
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
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
The foregoing proposed rule change has become effective pursuant to
Section 19(b)(3)(A) of the Act \15\ and paragraph (f) of Rule 19b-4
thereunder,\16\ because it establishes or changes a due, fee, or other
charge imposed by the Phlx. At any time within 60 days of the filing of
the proposed 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.\17\
---------------------------------------------------------------------------
\15\ 15 U.S.C. 78s(b)(3)(A).
\16\ 17 CFR 240.19b-4(f)(2).
\17\ For purposes of claculating the 60-day abrogation period,
the Commission considers the proposed rule change to have been filed
on January 24, 2005 when Amendment No. 1 was filed.
---------------------------------------------------------------------------
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change, as amended, is consistent with the Act. Comments may be
submitted by any of the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://
www.sec.gov/rules/sro.shtml); or
Send an e-mail to rule-comments@sec.gov. Please include
File Number SR-Phlx-2004-95 on the subject line.
Paper Comments
Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW.,
Washington, DC 20549-0609.
All submissions should refer to File Number SR-Phlx-2004-95. This
file number should be included on the subject line if e-mail is used.
To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (https://www.sec.gov/
rules/sro.shtml). 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 Room. Copies of the
filing also will be available for inspection and copying at the
principal office of the Phlx. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-Phlx-2004-95 and should be submitted on or before March
9, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\18\
---------------------------------------------------------------------------
\18\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-646 Filed 2-15-05; 8:45 am]
BILLING CODE 8010-01-P