[Federal Register Volume 59, Number 2 (Tuesday, January 4, 1994)]
[Notices]
[Pages 335-336]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-7]


[[Page Unknown]]

[Federal Register: January 4, 1994]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-33382; File Nos. SR-MCC-93-8 and SR-MSTC-93-12]

 

Self-Regulatory Organizations; Midwest Clearing Corp. and Midwest 
Securities Trust Co.; Filing and Immediate Effectiveness of Proposed 
Rule Changes to Add Certain File Transmission Fees

December 23, 1993.
    Pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 
(``Act''),\1\ notice is hereby given that on December 8, 1993, the 
Midwest Clearing Corporation (``MCC'') and the Midwest Securities Trust 
Company (``MSTC'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule changes as described in Items I, II, 
and III below, which Items have been prepared substantially by MCC and 
MSTC. The Commission is publishing this notice to solicit comments on 
the proposed rule changes from interested persons.
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    \1\15 U.S.C. 78s(b)(1) (1988).
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I. Self-Regulatory Organizations' Statement of the Terms of 
Substance of the Proposed Rule Changes

    MCC and MSTC propose to amend a portion of their Services and 
Schedule of Charges by adding certain fees for their File Transmission 
and Tape Input/Output Service.
    The text of the proposed rule changes are underlined:

            File Transmission and Tape Input/Output Services            
                           [Reports Received]                           
------------------------------------------------------------------------
                                                                  Upon  
            File                Daily     Weekly*    Monthly    Request 
------------------------------------------------------------------------
R--Activity.................    $165.00        N/A        N/A     $75.00
R--Net Position.............     165.00     125.00      75.00      75.00
R--Net Position/Activity....     275.00     N/AN/A      75.00           
B--Net Position/Activity....     275.00     200.00      75.00      75.00
R/B Merged Net Position                                                 
 (special format: depository                                            
 data only).................     165.00     125.00      75.00      75.00
Purchase & Sales............     165.00        N/A        N/A      75.00
ACATS Activity..............     165.00        N/A        N/A      75.00
Security Masterfile Updates.     165.00        N/A        N/A      75.00
Complete Security Masterfile        N/A     200.00      75.00      75.00
NIDS Activity...............     165.00        N/A        N/A      75.00
Dividend Announcements......     165.00        N/A        N/A      75.00
Accommodation Transfer......     165.00     125.00      75.00      75.00
Bond Comparison Activity....     165.00        N/A        N/A      75.00
Valid Trades................     300.00        N/A        N/A      75.00
MCC/MSTC Account Masterfile.        N/A     125.00      75.00      75.00
OTC T Contracts.............     165.00        N/A        N/A      75.00
Activity/Transfers..........     225.00     125.00      75.00      75.00
Activity/Deposits...........     225.00     125.00      75.00      75.00
Activity/Transfers/Deposits.     285.00     125.00      75.00      75.00
Activity/Position/Transfers/                                            
 Deposits...................     350.00     125.00      75.00      75.00
Deposit Records Only........      75.00      75.00      75.00      75.00
Transfer records Only.......      75.00      75.00      75.00      75.00
Pledgee Bank Net Position...     165.00     125.00      75.00      75.00
Pledgee Bank Activity.......     165.00     125.00     175.00      75.00
------------------------------------------------------------------------
*Includes settlement month end or calendar month end.                   

II. Self-Regulatory Organizations' Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Changes

    In their filings with the Commission, MCC and MSTC included 
statements concerning the purpose of, and basis for, the proposed rule 
changes and discussed any comments received on the proposed rule 
changes. The text of these statements may be examined at the places 
specified in Item IV below. MCC and MSTC prepared summaries, set forth 
in section (A), (B), and (C) below, of the most significant aspects of 
such statements.

(A) Self-Regulatory Organizations' Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Changes

    The purpose of the proposed changes is to establish fees for 
reports produced from individual files and new combinations of files in 
the MCC/MSTC File Transmission Service. MCC/MSTC's File Transmission 
Service (``FTS'') (File Nos. SR-MCC-87-6 and SR-MSTC-87-7)\2\ provides 
a computer-to-computer interface for the transmission of data between 
MCC/MSTC and their participants.
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    \2\Securities Exchange Act Release No. 25718 (May 19, 1988), 53 
FR 19074 [order approving proposal to develop and implement the File 
Transmission Service to link MCC's and MSTC's computer systems with 
those of their participants].
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    The proposed rule changes are consistent with section 17A of the 
Act in that they provide for the equitable allocation of reasonable 
fees and other charges among participants using MCC and MSTC 
facilities.

(B) Self-Regulatory Organizations' Statement on burden on Competition

    MCC and MSTC do not believe that the proposed rule changes will 
impose a burden on competition that is not necessary or appropriate in 
furtherance of the proposes of the Act.

(C) Self-Regulatory Organizations' Statement of Comments on the 
Proposed Rule Changes Received from Members, Participants, or Others

    Comments were neither solicited nor received.

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

    The foregoing rule changes became effective pursuant to section 
19(b)(3)(A)(ii) of the Act and Rule 19b-4(e)(2) thereunder because they 
establish or change a due, fee, or other charge of the self-regulatory 
organizations. At any time within sixty days of the filing of such 
proposed rule changes, the Commission may summarily abrogate such rule 
changes 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 purpose of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing. Persons making written submissions 
should file six copies thereof with the Secretary, Securities and 
Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549. 
Copies of the submissions, all subsequent amendments, all written 
statements with respect to the proposed rule changes that are filed 
with the Commission, and all written communication 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 Section, 450 Fifth Street 
NW., Washington, DC 20549. Copies of such filing will also be available 
for inspection and copying at the principal offices of MCC and MSTC. 
All submissions should refer to File Nos. SR-MCC-93-8 and SR-MSTC-93-12 
and should be submitted by January 25, 1994.

    For the Commission by the Division of Market Regulation, 
pursuant to delegated authority.\3\
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    \3\17 CFR 200.30-3(a)(12) (1993).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 94-7 Filed 1-3-94; 8:45 am]
BILLING CODE 8010-01-M