[Federal Register Volume 66, Number 178 (Thursday, September 13, 2001)]
[Notices]
[Pages 47709-47710]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-22984]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-44772; File No. SR-CBOE-2001-36]


Self-Regulatory Organizations; the Chicago Board Options 
Exchange, Inc.; Order Granting Approval to Proposed Rule Change and 
Amendment No. 1 To Exempt Certain Spread Transactions From the 
Marketing Fee and To Amend the Definition of Deep-in-the-Money Options 
To Include a Spread Traded at Maximum Value

September 7, 2001.
    On June 21, 2001, the Chicago Board Options Exchange, Inc. 
(``CBOE'') 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 exempt certain spread transactions from its 
marketing fee and to amend the definition of deep-in-the-money options 
to include a spread traded at maximum value. The CBOE filed Amendment 
No. 1 to the proposed rule change on July 18, 2001.\3\
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See letter from Steve Youhn, Legal Department, CBOE, to 
Nancy Sanow, Assistant Director, Division of Market Regulation, 
Commission, dated July 17, 2001. The CBOE originally submitted the 
filing pursuant to Section 19(b)(3)(A) of the Act, but submitted the 
amended filing pursuant to Section 19(b)(2) of the Act.
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    The proposed rule change, as amended, was published for comment in 
the Federal Register on August 8, 2001.\4\ The Commission received no 
comments on the proposal.
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    \4\ See Securities Exchange Act Release No. 44629 (July 31, 
2001), 66 FR 41639.
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    The Commission finds that the proposed rule change, as amended, is 
consistent with the requirements of the Act and the rules and 
regulations thereunder applicable to a national securities exchange \5\ 
and, in particular, the requirements of Section 6 of the

[[Page 47710]]

Act \6\ and the rules and regulations thereunder. The Commission finds 
that the proposed rule change, as amended, is consistent with Section 
6(b)(4) of the Act \7\ because its is designed to provide for the 
equitable allocation of reasonable dues, fees, and other charges among 
CBOE members.
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    \5\ In approving this proposed rule change, the Commission notes 
that it has considered the proposed rule's impact on efficiency, 
competition, and capital formation. 15 U.S.C. 78c(f).
    \6\ 15 U.S.C. 78f.
    \7\ 15 U.S.C. 78f(b)(4).
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    It is therefore ordered, pursuant to Section 19(b)(2) of the Act 
\8\, that the proposed rule change, as amended, (File No. SR-CBOE-2001-
36) be, and it hereby is, approved.
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    \8\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\9\
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    \1\ 17 CFR 200.30-3(a)(12).
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Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 01-22984 Filed 9-12-01; 8:45 am]
BILLING CODE 8010-01-M