Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to Its Membership Dues Fee, 32854-32855 [E5-2876]

Download as PDF 32854 Federal Register / Vol. 70, No. 107 / Monday, June 6, 2005 / Notices sentence means, in addition to the transaction that would be priced lower than superior priced bid(s) or higher than superior priced offer(s) of another Participant(s), those one or more transactions priced at such superior priced bid(s) or offer(s). The ITSOC provided the following example that demonstrates the functioning of clause (i) in subsection G, utilizing the CHX as the sending Participant: a. CHX Receives Order: Buy 2000 atthe-market. Member handling execution of order determines to complete order at 45.56, necessitating satisfaction of superior priced offers on other Participant markets. NBBO: N—45.50, 45.53; B—5x2. amendment is achieved by execution of the amendment on behalf of each ITS Participant and by Commission approval. The amendment is so executed. G. Description of Operation of Facility Contemplated by the Proposed Amendment 14:25 Jun 03, 2005 Jkt 205001 II. Solicitation of Comments PO 00000 Frm 00112 Fmt 4703 BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION Not applicable. Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed Plan amendment is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments: Mkt Bid Offer Size • Use the Commission’s Internet B ........... 45.30 45.53 1x2 comment form (https://www.sec.gov/ T ............ 45.30 45.54 3x3 rules/sro.shtml); or N ........... 45.50 45.55 5x5 • Send an e-mail to ruleX ........... 45.25 45.59 2x5 P ........... 45.20 45.60 1x1 comments@sec.gov. Please include File M ........... 45.40 45.65 1x1 No. 4–208 on the subject line. Paper Comments: b. CHX Executions: Customer buying/ • Send paper comments in triplicate member selling as principal 2000 to Jonathan G. Katz, Secretary, shares: 200 at 45.53; 300 at 45.54; 500 Securities and Exchange Commission, at 45.55; 1000 at 45.56. 450 Fifth Street, NW., Washington, DC c. CHX Computer Generated 20549–0609. Commitments: Member buying to partially off-set sales on CHX: M to B— All submissions should refer to File Buy—200 at 45.53; M to T—Buy—300 at No. 4–208. This file number should be 45.54; M to N—Buy—500 at 45.55. included on the subject line if e-mail is A. Governing or Constituent Documents used. To help the Commission process and review your comments more Not applicable. efficiently, please use only one method. The Commission will post all comments B. Implementation of Amendment on the Commission’s Internet Web site The Participants have manifested (https://www.sec.gov/rules/sro.shtml). their approval of the proposed Copies of the submission, all subsequent amendment to the Plan by means of amendments, all written statements their execution of the proposed with respect to the proposed Plan amendments. The proposed amendment amendment that are filed with the would become effective upon the Commission, and all written Commission’s approval of the communications relating to the amendment. proposed Plan amendment between the Commission and any person, other than C. Development and Implementation those that may be withheld from the Phases public in accordance with the Not applicable. provisions of 5 U.S.C. 552, will be available for inspection and copying in D. Analysis of Impact on Competition the Commission’s Public Reference The Participants believe that the Room. Copies of such filing also will be proposed amendment does not impose available for inspection and copying at any burden on competition. the principal office of the ITS. All E. Written Understanding or Agreements comments received will be posted relating to Interpretation of, or without change; the Commission does Participation in, Plan not edit personal identifying information from submissions. You Not applicable. should submit only information that F. Approval by Sponsors in Accordance you wish to make available publicly. All with Plan submissions should refer to File No. 4– 208 and should be submitted on or Under section 4(c) of the restated ITS before June 27, 2005. Plan, the requisite approval of the VerDate jul<14>2003 For the Commission, by the Division of Market Regulation, pursuant to delegated authority.4 Margaret H. McFarland, Deputy Secretary. [FR Doc. E5–2872 Filed 6–3–05; 8:45 am] Sfmt 4703 [Release No. 34–51734; File No. SR–BSE– 2005–13] Self-Regulatory Organizations; Boston Stock Exchange, Inc.; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Thereto Relating to Its Membership Dues Fee May 24, 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 April 29, 2005, the Boston Stock Exchange (‘‘BSE’’ 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 May 12, 2005, the Exchange filed Amendment No. 1 to the proposed rule change.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 BSE proposes to amend its Membership Dues fee. The text of the proposed rule change is available on the BSE’s Web site (https:// www.bostonstock.com), at the BSE’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 BSE included statements concerning the 4 17 CFR 200.30–3(a)(27). U.S.C. 78s(b)(1). 2 17 CFR 240.19b–4. 3 Amendment No. 1 added a sentence to clarify the purpose for the fee change. The effective date of the original proposed rule change is April 29, 2005, and the effective date of the amendment is May 12, 2005. For purposes of calculating the 60day period within which the Commission may summarily abrogate the proposed rule change, as amended, under Section 19(b)(3)(C) of the Act, the Commission considers the period to commence on May 12, 2005, the date on which the Exchange submitted Amendment No. 1. See 15 U.S.C. 78s(b)(3)(C). 1 15 E:\FR\FM\06JNN1.SGM 06JNN1 Federal Register / Vol. 70, No. 107 / Monday, June 6, 2005 / Notices 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 BSE 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 BSE proposes to amend its Membership and Other Fees fee schedule by increasing its Membership Dues fee from $750 per quarter to $1,000 per quarter. These fees will be used to fund the ongoing administration of Membership Services. This change will also better reflect the current value of a seat on the Boston Stock Exchange. 2. Statutory Basis The Exchange believes that the proposed rule change is consistent with Section 6(b) of the Act,4 in general, and furthers the objectives of Section 6(b)(4) of the Act,5 in particular, in that it provides for the equitable allocation of reasonable dues, fees, and other charges among its members. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change has become effective upon filing pursuant to Section 19(b)(3)(A)(ii) of the Act 6 and subparagraph (f)(2) of Rule 19b–4 thereunder,7 because it establishes or changes a due, fee, or other charge imposed by the BSE. 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 4 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). 6 15 U.S.C. 78s(b)(3)(A)(ii). 7 17 CFR 240.19b–4(f)(2). 5 15 VerDate jul<14>2003 14:25 Jun 03, 2005 interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act.8 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–BSE–2005–13 on the subject line. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 Margaret H. McFarland, Deputy Secretary. [FR Doc. E5–2876 Filed 6–3–05; 8:45 am] BILLING CODE 8010–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–51746; File No. SR-CBOE– 2005–32] Self-Regulatory Organizations; Chicago Board Options Exchange, Incorporated; Notice of Filing and Immediate Effectiveness of Proposed Rule Change and Amendment No. 1 Relating to Remote Market-Maker Transaction Fees May 26, 2005. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’)1 and Rule 19b–4 thereunder,2 • Send paper comments in triplicate notice is hereby given that on April 20, to Jonathan G. Katz, Secretary, 2005, the Chicago Board Options Securities and Exchange Commission, Exchange, Incorporated (‘‘CBOE’’ or 450 Fifth Street, NW., Washington, DC ‘‘Exchange’’) filed with the Securities 20549–0609. and Exchange Commission All submissions should refer to File (‘‘Commission’’) the proposed rule Number SR–BSE–2005–13. This file change as described in Items I, II and III number should be included on the below, which Items have been prepared subject line if e-mail is used. To help the by the CBOE. On May 18, 2005, the Commission process and review your CBOE submitted Amendment No. 1 to comments more efficiently, please use the proposed rule change.3 The CBOE only one method. The Commission will has designated this proposal as one post all comments on the Commission’s establishing or changing a due, fee, or other charge imposed by the CBOE Internet Web site (https://www.sec.gov/ under Section 19(b)(3)(A)(ii) of the Act,4 rules/sro.shtml). Copies of the and Rule 19b-4(f)(2) thereunder,5 which submission, all subsequent renders the proposal effective upon amendments, all written statements filing with the Commission. The with respect to the proposed rule Commission is publishing this notice to change that are filed with the solicit comments on the proposed rule Commission, and all written change from interested parties. communications relating to the proposed rule change between the I. Self-Regulatory Organization’s Commission and any person, other than Statement of the Terms of Substance of those that may be withheld from the the Proposed Rule Change public in accordance with the The Exchange proposes to amend its provisions of 5 U.S.C. 552, will be Fees Schedule to (i) establish available for inspection and copying in transaction fees for Remote Marketthe Commission’s Public Reference Makers (‘‘RMMs’’), (ii) amend its Room. Copies of the filing also will be Designated Primary Market-Maker available for inspection and copying at (‘‘DPM’’) and Electronic DPM (‘‘ethe principal offices of the BSE. All DPM’’) fixed annual fee program to comments received will be posted 9 17 CFR 200.30–3(a)(12). without change; the Commission does 1 15 U.S.C. 78s(b)(1). not edit personal identifying 2 17 CFR 240.19b–4. information from submissions. You 3 In Amendment No. 1, the Exchange: (1) clarified should submit only information that how the fixed annual fee alternative for DPMs and you wish to make available publicly. All e-DPMs would be applied when an entity that has elected the fixed annual fee alternative merges or submissions should refer to File combines operations with an entity that has not Number SR–BSE–2005–13 and should elected the fixed annual fee alternative; and (2) be submitted on or before June 27, 2005. revised the date of the Fees Schedule. Paper Comments 4 15 8 See Jkt 205001 32855 PO 00000 supra note 3. Frm 00113 Fmt 4703 5 17 Sfmt 4703 E:\FR\FM\06JNN1.SGM U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). 06JNN1

Agencies

SECURITIES AND EXCHANGE COMMISSION

[Federal Register Volume 70, Number 107 (Monday, June 6, 2005)]
[Notices]
[Pages 32854-32855]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-2876]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-51734; File No. SR-BSE-2005-13]


Self-Regulatory Organizations; Boston Stock Exchange, Inc.; 
Notice of Filing and Immediate Effectiveness of Proposed Rule Change 
and Amendment No. 1 Thereto Relating to Its Membership Dues Fee

May 24, 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 April 29, 2005, the Boston Stock Exchange (``BSE'' 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 May 12, 2005, the Exchange 
filed Amendment No. 1 to the proposed rule change.\3\ The Commission is 
publishing this notice to solicit comments on the proposed rule change, 
as amended, from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ Amendment No. 1 added a sentence to clarify the purpose for 
the fee change. The effective date of the original proposed rule 
change is April 29, 2005, and the effective date of the amendment is 
May 12, 2005. For purposes of calculating the 60-day period within 
which the Commission may summarily abrogate the proposed rule 
change, as amended, under Section 19(b)(3)(C) of the Act, the 
Commission considers the period to commence on May 12, 2005, the 
date on which the Exchange submitted Amendment No. 1. See 15 U.S.C. 
78s(b)(3)(C).
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I. Self-Regulatory Organization's Statement of the Terms of Substance 
of the Proposed Rule Change

    The BSE proposes to amend its Membership Dues fee. The text of the 
proposed rule change is available on the BSE's Web site (https://
www.bostonstock.com), at the BSE'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 BSE included statements 
concerning the

[[Page 32855]]

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 BSE 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 BSE proposes to amend its Membership and Other Fees fee 
schedule by increasing its Membership Dues fee from $750 per quarter to 
$1,000 per quarter. These fees will be used to fund the ongoing 
administration of Membership Services. This change will also better 
reflect the current value of a seat on the Boston Stock Exchange.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent 
with Section 6(b) of the Act,\4\ in general, and furthers the 
objectives of Section 6(b)(4) of the Act,\5\ in particular, in that it 
provides for the equitable allocation of reasonable dues, fees, and 
other charges among its members.
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    \4\ 15 U.S.C. 78f(b).
    \5\ 15 U.S.C. 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 any burden on competition.

C. Self-Regulatory Organization's Statement on Comments on the Proposed 
Rule Change Received From Members, Participants, or Others

    The Exchange has neither solicited nor received comments on the 
proposed rule change.

III. Date of Effectiveness of the Proposed Rule Change and Timing for 
Commission Action

    The proposed rule change has become effective upon filing pursuant 
to Section 19(b)(3)(A)(ii) of the Act \6\ and subparagraph (f)(2) of 
Rule 19b-4 thereunder,\7\ because it establishes or changes a due, fee, 
or other charge imposed by the BSE. 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.\8\
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    \6\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \7\ 17 CFR 240.19b-4(f)(2).
    \8\ See supra note 3.
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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-BSE-2005-13 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-BSE-2005-13. 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 offices of the BSE. 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-BSE-2005-13 and should be submitted on or before June 
27, 2005.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
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    \9\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-2876 Filed 6-3-05; 8:45 am]
BILLING CODE 8010-01-P

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