[Federal Register Volume 66, Number 162 (Tuesday, August 21, 2001)]
[Notices]
[Page 43939]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-21017]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-44705; File No. SR-CHX-2001-14]


Self Regulatory Organizations; The Chicago Stock Exchange, Inc.; 
Order Granting Approval to Proposed Rule Change to Eliminate the ``E-
Session'' After-Hours Trading Session

August 15, 2001.
    On July 2, 2001, The Chicago Stock Exchange, Inc. (``CHX'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission''), pursuant to section 19(b)(1) of the Securities 
Exchange Act of 1934 (``Act'') \1\ and Rule 19b-4 thereunder,\2\ a 
proposed rule change to delete CHX Article XXA, which governed an 
after-hours trading session (the ``E-Session'') conducted by the 
Exchange, and to eliminate other rule references to the E-Session.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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    The proposed rule change was published for comment in the Federal 
Register on July 16, 2001.\3\ The Commission received no comments on 
the proposal.
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    \3\ See Securities Exchange Act Release No. 44534 (July 10, 
2001), 66 FR 37081.
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    The Commission finds that the proposed rule change is consistent 
with the requirements of the Act and the rules and regulations 
thereunder applicable to a national securities exchange \4\ and, in 
particular, the requirements of section 6 of the Act \5\ and the rules 
and regulations thereunder. The Commission finds specifically that the 
proposed rule change is consistent with section 6(b)(5) of the Act \6\ 
because it will allow the CHX to terminate its after-hours trading 
session, which has not sustained the increases in order flow that the 
Exchange anticipated when it implemented the E-Session in early 2000.
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    \4\ In approving this proposed rule change, the Commission has 
considered the proposed rule's impact on efficiency, competition, 
and capital formation. 15 U.S.C. 78c(f).
    \5\ 15 U.S.C. 78f.
    \6\ 15 U.S.C. 78f(b)(5).
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    It is therefore ordered, pursuant to section 19(b)(2) of the 
Act,\7\ that the proposed rule change (SR-CHX-2001-14) be, and it 
hereby is approved.
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    \7\ 15 U.S.C. 78s(b)(2).

    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).

Jonathan G. Katz,
Secretary.
[FR Doc. 01-21017 Filed 8-20-01; 8:45 am]
BILLING CODE 8010-01-M