[Federal Register Volume 59, Number 229 (Wednesday, November 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29464]


[[Page Unknown]]

[Federal Register: November 30, 1994]


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SECURITIES AND EXCHANGE COMMISSION
 

Self-Regulatory Organizations; Notice Regarding Outstanding 
Applications for Unlisted Trading Privileges

November 23, 1994.
    The recently enacted Unlisted Trading Privileges Act of 1994 
(``Act''), Public Law 103-389 (codified as amended at 15 U.S.C. 78l (f) 
(1) to (3) (1988)), which became effective on October 22, 1994, 
authorizes any national securities exchange to extend unlisted trading 
privileges to any security that is listed and registered on a national 
securities exchange, otherwise registered pursuant to Section 12(g) of 
the Securities Exchange Act of 1934, or exempt from registration, all 
in accordance with the requirements and limitations of the Act and the 
rules thereunder.\1\ Prior to the amendment, exchanges were required to 
apply to the Securities and Exchange Commission (``Commission'') and 
receive approval from the Commission before extending unlisted trading 
privileges to any security. The Act eliminated these requirements.
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    \1\The Act initially requires a national securities exchange to 
wait until the third day of trading before extending unlisted 
trading privileges to any security that is listed and registered on 
another national securities exchange and is the subject of an 
initial public offering. The Act directs the Securities and Exchange 
Commission, however, to prescribe, before April 21, 1995, the 
permanent period, if any, that exchanges must observe before 
extending unlisted trading privileges to any such securities.
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    As a result, any national securities exchange that has previously 
applied to the Commission for approval of unlisted trading privileges 
in any security may extend unlisted trading privileges to such security 
in accordance with the terms of the Act, notwithstanding that the 
Commission has yet to approve the exchange's outstanding 
application.\2\ Accordingly, the Commission is publishing this notice 
to inform interested persons that no further Commission action on these 
applications is necessary. For further information, interested persons 
may contact Glen P. Barrentine, 202/942.0145, Senior Counsel, Office of 
Market Supervision, Division of Market Regulation, Securities and 
Exchange Commission, Mail Stop 5-1, 450 Fifth Street, N.W., Washington 
D.C. 20549.
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    \2\The Commission has previously published notice of certain of 
these outstanding applications. See Securities Exchange Act Release 
No. 34787 (October 4, 1994); Release No. 34788 (October 4, 1994); 
Release No. 34789 (October 4, 1994); Release No. 34794 (October 5, 
1994); Release No. 34795 (October 5, 1994); Release No. 34796 
(October 5, 1994); Release No. 34797 (October 5, 1994); Release No. 
34816 (October 7, 1994); Release No. 34824 (October 12, 1994); 
Release No. 34863 (October 19, 1994).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 94-29464 Filed 11-29-94; 8:45 am]
BILLING CODE 8010-01-M