[Federal Register Volume 61, Number 50 (Wednesday, March 13, 1996)]
[Notices]
[Pages 10409-10410]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-5967]



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SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-36938; File No. 600-25]


Self-Regulatory Organizations; Participants Trust Company; Notice 
of Filing of Application for Extension of Temporary Registration as a 
Clearing Agency

March 7, 1996.
    Notice is hereby given that on February 22, 1996, the Participants 
Trust Company (``PTC'') filed with the Securities and Exchange 
Commission (``Commission'') pursuant to Section 19(a) of the Securities 
Exchange Act of 1934 (``Act''),\1\ a request for extension of its 
temporary registration as a clearing agency under Section 17A of the 
Act through March 31, 1997.\2\ The Commission is publishing this notice 
to solicit comments from interested persons on PTC's request for an 
extension of its temporary registration.

    \1\ 15 U.S.C. Sec. 78s(a).
    \2\ Letter from John J. Sceppa, President and Chief Executive 
Officer, PTC, to Jerry Carpenter, Assistant Director, Division of 
Market Regulation, Commission (February 21, 1996).
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    On March 28, 1989, the Commission granted PTC's application for 
registration as a clearing agency pursuant to Sections 17A(b)(2) and 
19(a) \3\ of the Act on a temporary basis for a period of one year.\4\ 
Subsequently, the Commission issued orders that extended PTC's 
temporary registration as a clearing agency.\5\ PTC's current temporary 
registration extends through March 31, 1996.

    \3\ 15 U.S.C. Secs. 78q-1(b)(2) and 78s(a) (1988).
    \4\ Securities Exchange Act Release No. 26671 (March 28, 1989), 
54 FR 13266.
    \5\ Securities Exchange Act Release Nos. 27858 (March 28, 1990), 
55 FR 12614; 29024 (March 28, 1991), 56 FR 13848; 30537 (April 9, 
1992), 57 FR 12351; 32040 (March 23, 1993), 58 FR 16902; 33734 
(March 8, 1994), 59 FR 11815; and 35482 (March 13, 1995), 60 FR 
14806.
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    As discussed in detail in the initial order granting PTC's 
temporary registration,\6\ one of the primary reasons for PTC's 
registration was to develop depository facilities for mortgage-backed 
securities, particularly securities guaranteed by the Government 
National Mortgage Association (``GNMA''). PTC services include 
certificate safekeeping, book entry deliveries, and automated

[[Page 10410]]
facility for the pledge or segregation of securities, and other 
services related to the immobilization of securities certificates.

    \6\ Supra note 4.
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    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, N.W., Washington, D.C. 20549. 
Copies of all written comments will be available for inspection and 
copying in the Commission's Public Reference Section, 450 Fifth Street, 
N.W., Washington, D.C. 20549. All submissions should refer to the File 
No. 600-25 and should be submitted by April 3, 1996.

    For the Commission, by the Division of Market Regulation 
pursuant to delegated authority.\7\

    \7\ 17 CFR 200.30-3(a)(50) (1995).
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Margaret H. McFarland,
Deputy Secretary.
FR Doc. 96-5967 Filed 3-12-96; 8:45 am]
BILLING CODE 8010-01-M