[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]
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Upon
File Daily Weekly* Monthly Request
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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
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*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