[Federal Register Volume 66, Number 14 (Monday, January 22, 2001)]
[Notices]
[Pages 6719-6720]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-1804]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-43841; File No. SR-CTA-01-01]


Consolidated Tape Association; Notice of Filing Seventh Charges 
Amendment to the Second Restatement of the CTA Plan

January 12, 2001.
    Pursuant to Rule 11Aa3-2 \1\ of the Securities Exchange Act of 1934 
(``Act''), notice is hereby given that on January 9, 2001, the 
Consolidated Tape Association Plan (``CTA Plan'') participants 
(``Participants'') \2\ filed with

[[Page 6720]]

the Securities and Exchange Commission (``Commission'' or ``SEC'') an 
amendment to the Second Restatement of the CTA Plan. In the amendment, 
the Participants propose to modify the Network B ticker charges.
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    \1\ 17 CFR 240.11Aa3-2.
    \2\ Each participant of the Plan executed the amendments. The 
Participants include the American Stock Exchange, LLC, Boston Stock 
Exchange, Inc., Chicago Board Options Exchange, Inc., Chicago Stock 
Exchange, Inc., Cincinnati Stock Exchange, Inc., National 
Association of Securities Dealers, Inc., New York Stock Exchange, 
Inc., and Philadelphia Stock Exchange, Inc.
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    The Participants submitted this notice of proposed amendment to the 
CTA Plan, which is an effective national system plan,\3\ pursuant to 
Rule 11Aa3-2(c)(1).\4\ The Commission is publishing this notice to 
solicit comments from interested persons on the amendment.
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    \3\ The CTA Plan has been designated as an effective transaction 
reporting plan pursuant to Rule 11Aa3-1(b). 17 CFR 240.11Aa3-1(b).
    \4\ 17 CFR 240.11Aa3-2(c)(1).
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I. Description and Purpose of the Amendments

A. Rule 11Aa3-2 \5\
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    \5\ 17 CFR 240.11Aa3-2.
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    Currently, CTA Network B charges $21.50 per month for the first 
ticker at each customer location and $13.60 for any additional tickers 
at that location. This tiered pricing structure is proving difficult 
for market data vendors to administer in the new vendor billing 
environment that was recently implemented by CTA Network B.\6\
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    \6\ See Securities Exchange Act Release No. 42444 (February 18, 
2000), 65 FR 11101 (March 1, 2000).
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    To address this problem, CTA Network B is proposing to eliminate 
the ``First Ticker'' premium charge. Thus, there would be a single 
monthly ticker charge of $13.60 for each customer at each location. The 
change would result is a cost savings for all Network B ticker 
subscribers and will make it easier for vendors to charge for the data.
* * * * *
    The filing of the amendment is in fulfillment of the national 
market system objectives regarding the dissemination of market 
information as anticipated by Sections 11A(a)(1)(C),\7\ 
11A(a)(1)(D),\8\ and 11A(a)(3)(B) \9\ of the Act.
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    \7\ 15 U.S.C. 78k-1(a)(1)(C).
    \8\ 15 U.S.C. 78k-1(a)(1)(D).
    \9\ 15 U.S.C. 78k-1(a)(3)(B).
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B. Governing or Constituent Documents

    Not applicable.

C. Implementation of Amendment

    The Participants have manifested their approval of the proposed 
amendment to the CTA rate schedule by executing the amendment. The rate 
change would become effective on the first day of the month that 
follows the month in which the Commission approves the proposed plan 
amendment.

D. Development and Implementation Phases

    See Item I(C).

E. Analysis of Impact on Competition

    The Participants believe that the proposed amendment does not 
impose any burden on competition that is not necessary or appropriate 
in furtherance of the purposes of the Act. The Participants do not 
believe that the proposed plan amendment introduces terms that are 
unreasonably discriminatory for the purposes of Section 11A(c)(1)(D) 
\10\ of the Act.
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    \10\ 15 U.S.C. 78k-1(c)(1)(D).
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F. Written Understanding or Agreements Relating to Interpretation of, 
or Participation in, Plan

    Not applicable.

G. Approval by Sponsors in Accordance With Plan

    In accordance with Section XII(b)(iii) of the CTA Plan, each 
Participant has approved the fee reduction.

H. Description of Operation of Facility Contemplated by the Proposed 
Amendment

    Not applicable.

I. Terms and Conditions of Access

    See Item I(A).

J. Method of Determination and Imposition, and Amount of, Fees and 
Charges

    See Item I(A) and the text of the amendment.

K. Method and Frequency of Processor Evaluation

    Not applicable.

L. Dispute Resolution

    Not applicable.

II. Rule 11Aa3-1\11\
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    \11\ 17 CFR 240.11 Aa3-1.
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A. Reporting Requirements

    Not applicable.

B. Manner of Collecting, Processing, Sequencing, Making Available and 
Disseminating Last Sale Information

    Not applicable.

C. Manner of Consolidation

    Not applicable.

D. Standards and Methods Ensuring Promptness, Accuracy and Completeness 
of Transaction Reports

    Not applicable.

E. Rules and Procedures Addressed to Fraudulent or Manipulative 
Dissemination

    Not applicable.

F. Terms of Access to Transaction Reports

    See Item I(A).

G. Identification of Marketplace of Execution

    Not applicable.

III. Solicitation of Comments

    Interested persons are invited to submit written data, views, and 
arguments concerning the foregoing, including whether the proposal 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 proposal 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. Copies of such filing will also be available for 
inspection and copying at the principal office of the CTA. All 
submissions should refer to File No. SR-CTA-01-01 and should be 
submitted by February 12, 2001.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\12\
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    \12\ 17 CFR 200.30-3(a)(27).
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Jonathan G. Katz,
Secretary.
[FR Doc. 01-1804 Filed 1-19-01; 8:45 am]
BILLING CODE 8010-01-m