[Federal Register Volume 64, Number 181 (Monday, September 20, 1999)]
[Notices]
[Page 50843]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24352]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-41864; File No. SR-Amex-98-19]


Self-Regulatory Organizations; Notice of Withdrawal of Proposed 
Rule Change and Amendment Nos. 1 and 2 by the American Stock Exchange 
LLC Relating to Solicitation of Options Transactions

September 10, 1999.
    On May 18, 1998, the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') a proposed rule change, pursuant to section 19(b)(1) 
of the Securities Exchange Act of 1934 (``Act''),\1\ and Rule 19b-4 
thereunder,\2\ to amend Amex Rule 950(d), Commentary .03 to: (1) Allow 
a member representing an originating order to solicit a customer (as 
well as another member, member organization, or non-member broker-
dealer) to participate in the transaction; and (2) provide that a 
Registered Options Trader, when establishing or increasing a position, 
may retain priority over an off-floor order (including that of a 
customer) that is subject to Commentary .03. The Amex submitted 
Amendment No. 1 to the proposal on July 7, 1998,\3\ and Amendment No. 2 
to the proposal on August 19, 1998.\4\ Notice of the proposed rule 
change, as amended, was published in the Federal Register on August 26, 
1998, to solicit comment from interested persons.\5\ The Commission 
received one comment letter regarding the proposal.\6\ On September 3, 
1999, the Amex withdrew the proposed rule change.\7\

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See letter from Claire P. McGrath, Vice President and 
Special Counsel, Derivative Securities, Amex, to Richard Strasser, 
Assistant Director, Division of Market Regulation (``Division''), 
Commission, (dated July 6, 1998).
    \4\ See letter from Claire P. McGrath, Vice President and 
Special Counsel, Derivative Securities, Amex, to Richard Strasser, 
Assistant director, Division, Commission, dated August 18, 1998.
    \5\ See Securities Exchange Act Release No. 40345 (August 19, 
1998), 63 FR 45541.
    \6\ See letter from Cherie L. Macauley, Wilmer, Cutler, & 
Pickering, to Jonathan G. Katz, Secretary, Commission, dated 
September 25, 1998 (on behalf of Credit Suisse First Boston 
Corporation, Merrill Lynch & Co., Goldman, Sachs & Co., and Morgan 
Stanley & Co., Inc.).
    \7\ See letter from Claire P. McGrath, Vice President and 
Special Counsel, Derivative Securities, Amex, to Richard Strasser, 
Assistant Director, Division, Commission, dated September 2, 1999.
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    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\8\
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    \8\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-24352 Filed 9-17-99; 8:45 am]
BILLING CODE 8010-01-M