Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Notice of Filing of Amendment No. 3 to a Proposed Rule Change Relating to a Prohibition on Using a Layoff Service Unless the Service Provides Required Information to the Exchange, 48610-48611 [E5-4509]
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48610
Federal Register / Vol. 70, No. 159 / Thursday, August 18, 2005 / Notices
the Act. Comments may be submitted by
any of the following methods:
SECURITIES AND EXCHANGE
COMMISSION
Electronic Comments
[Release No. 34–52248; File No. SR-CHX–
2004–25]
• 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–CHX–2005–16 on the
subject line.
Self-Regulatory Organizations;
Chicago Stock Exchange, Inc.; Notice
of Filing of Amendment No. 3 to a
Proposed Rule Change Relating to a
Prohibition on Using a Layoff Service
Unless the Service Provides Required
Information to the Exchange
Paper Comments
August 12, 2005.
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
Station Place, 100 F Street NE.,
Washington, DC 20549–9303.
All submissions should refer to File
Number SR–CHX–2005–16. 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, as amended, 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 Exchange.
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–CHX–2005–16 and should
be submitted on or before September 8,
2005.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on August
12, 2005, the Chicago Stock Exchange,
Inc. (‘‘CHX’’ or ‘‘Exchange’’) filed with
the Securities and Exchange
Commission (the ‘‘Commission’’)
Amendment No. 3 to a proposed rule
change as described in Items I, II, and
III below, which Items have been
prepared by the CHX. The proposed rule
change was originally filed on August
31, 2004 and was amended by
Amendment No. 1, filed on June 7,
2005, and Amendment No. 2, filed on
June 27, 2005. The proposed rule
change, as amended by Amendment
Nos. 1 and 2, was published for notice
and comment in the Federal Register on
July 12, 2005.3 The Commission is
publishing this notice to solicit
comments on the proposed rule change,
as amended by Amendment No. 3, from
interested persons.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.16
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–4507 Filed 8–17–05; 8:45 am]
CFR 200.30–3(a)(12).
VerDate jul<14>2003
12:20 Aug 17, 2005
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
CHX included statements concerning
U.S.C. 78s(b)(1).
CFR 240.19b–4.
3 See Securities Exchange Act Release No. 51967
(July 1, 2005), 70 FR 40086 (July 12, 2005) (‘‘First
Notice’’).
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Changes
1. Purpose
As noted in the original filing, the
Exchange is proposing to amend its rule
relating to communications from the
trading floor to provide the Exchange
with the layoff service information that
it needs to enhance its surveillance
programs. Through this Amendment No.
3, the Exchange is seeking to revise the
proposed effective date of its proposed
rule to September 30, 2005. The
Exchange believes that this later
effective date will better allow all of its
Participants and their layoff vendors to
be able to comply with the proposed
rule in a timely manner on its effective
date.
2. Statutory Basis
The CHX believes the proposal is
consistent with the requirements of the
Act and the rules and regulations
thereunder that are applicable to a
national securities exchange, and, in
particular, with the requirements of
Section 6(b) of the Act.4 The CHX
believes the proposal is consistent with
Section 6(b)(5) of the Act 5 in that it is
designed to promote just and equitable
principles of trade, to remove
impediments, and to perfect the
mechanism of, a free and open market
and a national market system, and, in
general, to protect investors and the
public interest by permitting the
Exchange to require its participants (or
their layoff service providers) to provide
the Exchange with data necessary to
conduct appropriate surveillance of its
participants’ trading activities.
B. Self-Regulatory Organization’s
Statement of Burden on Competition
The Exchange does not believe that
the proposed rule changes will impose
any burden on competition.
1 15
2 17
BILLING CODE 8010–01–P
16 17
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
The Exchange is amending its
proposal to prohibit Exchange
Participants from using any
communications means to send orders
to another market for execution (a
‘‘layoff service’’) unless that layoff
service has established a process for
providing the Exchange with specific
information about the orders and the
executions that participants receive.
This amendment changes the proposed
effective date contained in the proposed
rule text from August 1, 2005 to
September 30, 2005.
the purpose of and basis for the
proposed rule changes and discussed
any comments it received regarding the
proposal. The text of these statements
may be examined at the places specified
in Item IV below. The CHX has prepared
summaries, set forth in Sections A, B
and C below, of the most significant
aspects of such statements.
Jkt 205001
PO 00000
Frm 00096
Fmt 4703
Sfmt 4703
4 15
5 15
E:\FR\FM\18AUN1.SGM
U.S.C. 78(f)(b).
U.S.C. 78f(b)(5).
18AUN1
Federal Register / Vol. 70, No. 159 / Thursday, August 18, 2005 / Notices
C. Self-Regulatory Organization’s
Statement on Comments Regarding the
Proposed Rule Changes Received From
Members, Participants or Others
No written comments were either
solicited or received.
III. Date of Effectiveness of the
Proposed Rule Changes and Timing for
Commission Action
Within 35 days of the date of
publication of this notice in the Federal
Register or within such other period (i)
as the Commission may designate up to
90 days of such date if it finds such
longer period to be appropriate and
publishes its reasons for so finding or
(ii) as to which the Exchange consents,
the Commission will:
(A) By order approve the proposed
rule change, as amended, or
(B) Institute proceedings to determine
whether the proposed rule change, as
amended, should be disapproved.
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 by Amendment No.
3, 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–CHX–2004–25 on the
subject line.
Paper Comments
• Send paper comments in triplicate
to Jonathan G. Katz, Secretary,
Securities and Exchange Commission,
100 F Street, NE., Washington, DC
20549–9303.
All submissions should refer to File
No. SR–CHX–2004–25. 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 changes between the
Commission and any person, other than
those that may be withheld from the
VerDate jul<14>2003
12:20 Aug 17, 2005
Jkt 205001
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 such filing will also be
available for inspection and copying at
the principal office of the CHX. 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 No.
SR–CHX–2004–25 and should be
submitted on or before September 8,
2005.
For the Commission, by the Division of
Market Regulation, pursuant to delegated
authority.6
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5–4509 Filed 8–17–05; 8:45 am]
BILLING CODE 8010–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–52249; File No. SR–PCX–
2005–90]
Self-Regulatory Organizations; Pacific
Exchange, Inc.; Notice of Filing of
Proposed Rule Change and
Amendment No. 1 Thereto Relating to
the Certificate of Incorporation of PCX
Holdings, Inc., PCX Rules and Bylaws
of Archipelago Holdings, Inc.
August 12, 2005.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934, as
amended (‘‘Act’’) 1 and Rule 19b–4
thereunder,2 notice is hereby given that
on August 1, 2005, the Pacific Exchange,
Inc. (‘‘PCX’’ or the ‘‘Exchange’’) filed
with the Securities and Exchange
Commission (‘‘Commission’’ or ‘‘SEC’’)
the proposed rule change as described
in Items I, II and III below, which Items
have been prepared by the Exchange.3
On August 10, 2005, the Exchange filed
Amendment No. 1 (‘‘Amendment No.
1’’) to the proposed rule change.4 The
Commission is publishing this notice to
solicit comments on the proposed rule
CFR 200.30–3(a)(12).
U.S.C. 78s(b)(1).
2 17 CFR 240.19b–4.
3 At the request of PCX, the Commission made
clarifications to the description in Item II, as noted
herein. Telephone conversations between Kathryn
Beck, Deputy General Counsel, PCX and Jennifer
Dodd, Special Counsel, Commission, Division of
Market Regulation on August 4, 2005 (‘‘August 4,
2005 Telephone Conversation’’) and August 12,
2005 (‘‘August 12, 2005 Telephone Conversation’’).
4 In Amendment No. 1, the Exchange made
certain corrections to the descriptions in Items I, II
and III and the proposed rule text.
PO 00000
6 17
1 15
Frm 00097
Fmt 4703
Sfmt 4703
48611
change, as amended, from interested
persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
PCX submitted to the Commission (i)
a proposed amendment to the certificate
of incorporation of PCX Holdings, Inc.
(‘‘PCXH’’), the parent company of the
Exchange and its other operating
subsidiaries, (ii) proposed new PCX
Rules 1.1(cc) through (gg), Rule 3.4 and
Rule 13.2(a)(2)(E),5 which are intended
to govern the ownership and voting of
the stock of Archipelago Holdings, Inc.
(‘‘Archipelago’’), a Delaware corporation
that operates the equities trading facility
of PCX and PCX Equities, Inc. (‘‘PCXE’’),
by OTP Holders and OTP Firms,6 and
(iii) a proposed amendment to the
bylaws of Archipelago ((i), (ii) and (iii)
together, the ‘‘Proposed Rule Changes’’).
The text of the Proposed Rule Changes
is available on PCX’s Web site, https://
www.pacificex.com/, at PCX’s Office of
the Secretary, at the Commission’s
Public Reference Room, and on the
Commission’s Web site, https://
www.sec.gov/rules/sro.shtml.
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
self-regulatory organization 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 self-regulatory organization has
prepared summaries, set forth in
sections A, B and C below, of the most
significant aspects of such statements.
5 See
Amendment No. 1.
rules define an ‘‘OTP Holder’’ to mean any
natural person, in good standing, who has been
issued an Options Trading Permit (‘‘OTP’’) by the
Exchange for effecting approved securities
transactions on the Exchange’s trading facilities, or
has been named as a Nominee. PCX Rule 1.1(q). The
term ‘‘Nominee’’ means an individual who is
authorized by an ‘‘OTP Firm’’ (a sole
proprietorship, partnership, corporation, limited
liability company or other organization in good
standing who holds an OTP or upon whom an
individual OTP Holder has conferred trading
privileges on the Exchange’s trading facilities) to
conduct business on the Exchange’s trading
facilities and to represent such OTP Firm in all
matters relating to the Exchange. PCX Rule 1.1(n).
6 PCX
E:\FR\FM\18AUN1.SGM
18AUN1
]]>Agencies
[Federal Register Volume 70, Number 159 (Thursday, August 18, 2005)]
[Notices]
[Pages 48610-48611]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-4509]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-52248; File No. SR-CHX-2004-25]
Self-Regulatory Organizations; Chicago Stock Exchange, Inc.;
Notice of Filing of Amendment No. 3 to a Proposed Rule Change Relating
to a Prohibition on Using a Layoff Service Unless the Service Provides
Required Information to the Exchange
August 12, 2005.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on August 12, 2005, the Chicago Stock Exchange, Inc. (``CHX'' or
``Exchange'') filed with the Securities and Exchange Commission (the
``Commission'') Amendment No. 3 to a proposed rule change as described
in Items I, II, and III below, which Items have been prepared by the
CHX. The proposed rule change was originally filed on August 31, 2004
and was amended by Amendment No. 1, filed on June 7, 2005, and
Amendment No. 2, filed on June 27, 2005. The proposed rule change, as
amended by Amendment Nos. 1 and 2, was published for notice and comment
in the Federal Register on July 12, 2005.\3\ The Commission is
publishing this notice to solicit comments on the proposed rule change,
as amended by Amendment No. 3, from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
\3\ See Securities Exchange Act Release No. 51967 (July 1,
2005), 70 FR 40086 (July 12, 2005) (``First Notice'').
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
The Exchange is amending its proposal to prohibit Exchange
Participants from using any communications means to send orders to
another market for execution (a ``layoff service'') unless that layoff
service has established a process for providing the Exchange with
specific information about the orders and the executions that
participants receive. This amendment changes the proposed effective
date contained in the proposed rule text from August 1, 2005 to
September 30, 2005.
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 CHX included statements
concerning the purpose of and basis for the proposed rule changes and
discussed any comments it received regarding the proposal. The text of
these statements may be examined at the places specified in Item IV
below. The CHX 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 Changes
1. Purpose
As noted in the original filing, the Exchange is proposing to amend
its rule relating to communications from the trading floor to provide
the Exchange with the layoff service information that it needs to
enhance its surveillance programs. Through this Amendment No. 3, the
Exchange is seeking to revise the proposed effective date of its
proposed rule to September 30, 2005. The Exchange believes that this
later effective date will better allow all of its Participants and
their layoff vendors to be able to comply with the proposed rule in a
timely manner on its effective date.
2. Statutory Basis
The CHX believes the proposal is consistent with the requirements
of the Act and the rules and regulations thereunder that are applicable
to a national securities exchange, and, in particular, with the
requirements of Section 6(b) of the Act.\4\ The CHX believes the
proposal is consistent with Section 6(b)(5) of the Act \5\ in that it
is designed to promote just and equitable principles of trade, to
remove impediments, and to perfect the mechanism of, a free and open
market and a national market system, and, in general, to protect
investors and the public interest by permitting the Exchange to require
its participants (or their layoff service providers) to provide the
Exchange with data necessary to conduct appropriate surveillance of its
participants' trading activities.
---------------------------------------------------------------------------
\4\ 15 U.S.C. 78(f)(b).
\5\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------
B. Self-Regulatory Organization's Statement of Burden on Competition
The Exchange does not believe that the proposed rule changes will
impose any burden on competition.
[[Page 48611]]
C. Self-Regulatory Organization's Statement on Comments Regarding the
Proposed Rule Changes Received From Members, Participants or Others
No written comments were either solicited or received.
III. Date of Effectiveness of the Proposed Rule Changes and Timing for
Commission Action
Within 35 days of the date of publication of this notice in the
Federal Register or within such other period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the Exchange consents, the Commission will:
(A) By order approve the proposed rule change, as amended, or
(B) Institute proceedings to determine whether the proposed rule
change, as amended, should be disapproved.
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 by Amendment No. 3, 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-CHX-2004-25 on the subject line.
Paper Comments
Send paper comments in triplicate to Jonathan G. Katz,
Secretary, Securities and Exchange Commission, 100 F Street, NE.,
Washington, DC 20549-9303.
All submissions should refer to File No. SR-CHX-2004-25. 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 changes 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 such
filing will also be available for inspection and copying at the
principal office of the CHX. 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 No. SR-CHX-2004-25 and should be submitted on or before September
8, 2005.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\6\
---------------------------------------------------------------------------
\6\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-4509 Filed 8-17-05; 8:45 am]
BILLING CODE 8010-01-P
