[Federal Register Volume 64, Number 182 (Tuesday, September 21, 1999)]
[Notices]
[Pages 51161-51162]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-24494]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-41869; File No. SR-CHX-99-13]


Self-Regulatory Organizations: Notice of Filing and Immediate 
Effectiveness of Proposed Rule Change by the Chicago Stock Exchange, 
Inc. Relating to Membership Dues and Fees

September 13, 1999.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice hereby is given 
that on August 27, 1999, the Chicago Stock Exchange, Inc. (``CHX'' or 
``Exchange'') filed with the Securities and Exchange Commission (the 
``Commission'') the proposed rule change as described in Items I, II 
and III below, which Items have been prepared by the information. The 
Commission is publishing this notice to solicit comments on the 
proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of 
Substance of the Proposed Rule Change

    The Exchange proposes to amend its membership dues and fees 
schedule. Specifically, the ``Technical Equipment'' portion of the CHX 
fee schedule would be amended to incorporate uniform monthly charges 
for certain computer equipment that now is available for use by CHX 
members (i.e., flat panel monitors) and to delete references to 
obsolete computer equipment. The text of the proposed rule change is 
available upon request from the Commission or the Office of the 
Secretary of the CHX.

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

    In its filing with the Commission, the Exchange included statements 
concerning the purpose of, and basis for, the proposed rule change and 
discussed any comments it received regarding the proposed rule change. 
The text of these statements may be examined at the places specified in 
Item IV below. The Exchange has prepared summaries, set forth in 
Sections (A), (B) and (C) below, of the most significant aspects of 
such statements.

(A) Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

1. Purpose
    The purpose of the proposed rule change is to amend the CHX 
schedule of membership dues and fees. Specifically, the ``Technical 
Equipment'' portion of the CHX fee schedule would be amended to 
incorporate uniform monthly charges for certain computer equipment that 
now is available for use by CHX members (i.e., flat panel monitors) and 
to delete references to obsolete computer equipment. The proposed 
amendment is intended solely to update the list of computer equipment 
itemized as ``Technical Equipment'' and does not impose new or 
additional charges on any member unless a member elects to augment 
existing trading floor workstation technology with new flat panel 
monitors.

[[Page 51162]]

2. Statutory Basis
    The proposed rule change is consistent with Section 6(b)(4) of the 
Act \3\ in that it provides for the equitable allocation of reasonable 
dues, fees and other charges among its members.
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    \3\ 15 U.S.C. 78f(b)(4)
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(B) Self-Regulatory Organization's Statement of Burden on Competition

    The Exchange does not believe that the proposed rule change will 
impose any inappropriate burden on competition.

(C) Self-Regulatory Organization's Statement on Comments on the 
Proposed Rule Change Received From Members, Participants or Others

    No written comments were either solicited or received.

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

    The foregoing rule change establishes or changes a due, fee or 
other charge imposed by the Exchange and therefore has become effective 
pursuant to Section 19(b)(3)(A)(ii) of the Act \4\ and Rule 19b-4(f)(2) 
\5\ thereunder.\6\ At any time within 60 days of the filing of such 
rule change, the Commission may summarily abrogate such rule change 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.
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    \4\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \5\ 17 CFR 240.19b-4(f)(2).
    \6\ In reviewing the proposal, the Commission considered its 
impact on efficiency, competition and capital formation. 15 U.S.C. 
78f(b).
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IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the foregoing is 
consistent with the Act. Persons making written submissions should file 
six copies thereof with the Secretary, Securities and Exchange 
Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. Copies of 
the submissions, all subsequent amendments, all written statements with 
respect to the proposed rule change that are filed with the Commission, 
and all written communications relating to the proposed rule change 
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 at the Commission's 
Public Reference Room. Copies of such filings will also be available 
for inspection and copying at the principal office of the Exchange. All 
submissions should refer to File No. SR-CHX-99-13 and should be 
submitted by October 12, 1999.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
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    \7\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-24494 Filed 9-20-99; 8:45 am]
BILLING CODE 8010-01-M