[Federal Register Volume 65, Number 242 (Friday, December 15, 2000)]
[Notices]
[Pages 78519-78520]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-31998]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-43648; File No. SR-DTC-00-11]


Self-Regulatory Organizations; The Depository Trust Company; 
Notice of Filing and Immediate Effectiveness of A Proposed Rule Change 
Relating to Service Fees

November 30, 2000.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of 
1934 (``Act''), notice is hereby given that on August 4, 2000, The 
Depository Trust Company (``DTC'') filed with the Securities and 
Exchange Commission (``Commission'') the proposed rule change as 
described in Items I, II, and III below, which Items have been prepared 
by DTC. 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).
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I. Self-Regulatory Organization's Statement of the Terms of 
Substance of the Proposed Rule Change

    The proposed rule change will change DTC's service fee schedule.

[[Page 78520]]

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

    In its filing with the Commission, DTC included statements 
concerning the purpose of and basis for the proposed rule change and 
discussed any comments that it received on the proposed rule change. 
The text of these statements may be examined at the places specified in 
Item IV below. DTC has prepared summaries, set forth in sections A, B, 
and C below, of the most significant aspects of such statements.\2\
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    \2\ The Commission has modified the text of the summaries 
prepared by DTC.
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A. Self-Regulatory Organization's Statement of the Purpose of, and 
Statutory Basis for, the Proposed Rule Change

    DTC proposed to change its service fee schedule by adding the 
following Participant Terminal System (PTS) fees under the heading 
``GWIZ Service.'' \3\ the proposed fees are designed to recover DTC's 
estimated service costs.
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    \3\ GWIZ is a new PTS function that offers DTC's participants 
improved search and navigation capabilities and expanded information 
about eligible securities. The GWIZ service combines corporate data 
from five currently separate PTS functions into one application and 
provides access to more up-to-the-minute information (e.g., 
corporate actions, dividends, and redemptions) with fewer keystrokes 
to the GWIZ user. In addition, GWIZ provides links to other PTS 
functions for more detailed or participant-specific information.

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            Service                 Present fee         Proposed fee
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For Original Issuance services,  None............  $.25 per inquiry.
 which combines descriptive and
 most recent event information.
For DTC Processing services,     None............  $.020 per inquiry.
 which includes four pages of
 CONI information.
For Agent, Distribution,         None............  $.09 per inquiry.
 Redemption and Corporate
 Action Screens.
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    DTC believes that the proposed rule change is consistent with the 
requirements of Section 17A of the Act \4\ and the rules and 
regulations thereunder because it promotes the prompt and accurate 
clearance and settlement of securities transactions while ensuring the 
safeguarding of funds and securities in DTC's possession or control.
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    \4\ 15 U.S.C. 78q-1.
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B. Self-Regulatory Organization's Statement on Burden on Competition

    DTC does not believe that the proposed rule change will impose any 
burden on competition that is not necessary or appropriate in 
furtherance of the purposes of the Act.

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

    No comments on the proposed rule change were solicited or received.

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

    The proposed rule change has become effective pursuant to Section 
19(b)(3)(A)(ii) of the Act \5\ and Rule 19b-4(f)(2) \6\ thereunder 
because the proposed rule change establishes or changes a due, fee, or 
other charge. At any time within sixty days of the filing of such 
proposed 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 purposes of the Act.
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    \5\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \6\ 17 CFR 240.19b-4(f)(2).
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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 proposed rule 
change 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 submission, 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 in the 
Commission's Public Reference Room, 450 Fifth Street, NW., Washington, 
DC. Copies of such filing also will be available for inspection and 
copying at DTC's principal office. All submissions should refer to File 
No. SR-DTC-00-11 and should be submitted by January 5, 2001.
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    \7\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\7\
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 00-31998 Filed 12-14-00; 8:45 am]
BILLING CODE 8010-01-M