[Federal Register Volume 67, Number 5 (Tuesday, January 8, 2002)]
[Notices]
[Page 946]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-285]



[[Page 946]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-45211; File No. SR-Amex-2001-98]


Self-Regulatory Organizations; Order Approving a Proposed Rule 
Change by the American Stock Exchange LLC to Reinstate and Increase 
Options Transaction Charges

December 28, 2001.
    On November 8, 2001, pursuant to section 19(b)(1) of the Securities 
Exchange Act of 1934 \1\ the American Stock Exchange LLC (``Amex'' or 
``Exchange'') filed with the Securities and Exchange Commission 
(``Commission'') the proposed rule change to reinstate and increase 
options transaction charges in select products. In April 2000, the 
Exchange eliminated transaction, floor brokerage, and clearance charges 
for customer equity option trades. At that time, fees charged to 
customers for transactions in index options remained unchanged at $0.10 
per contract. The Exchange proposes to increase the fees charged to (1) 
customers for transactions in index options from $0.10 to $0.15; and 
(2) member firms and non-member broker dealers for transactions in 
index options from $0.11 to $0.15. In addition, the Exchange is 
proposing to reinstate a customer transaction charge for equity options 
on the S&P 100 iShares. The transaction charge will be $0.15 per 
contract side.
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    \1\ 15 U.S.C. 78s(b)(1).
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    The proposed rule change was published for comment in the Federal 
Register.\2\ The Commission received no comments on the proposal.
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    \2\ Securities Exchange Act Release No. 45068 (Nov. 11, 2001), 
66 FR 58765 (Nov. 23, 2001).
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    The Commission finds the proposed rule change is consistent with 
section 6(b) of the Act \3\ in general and furthers the objectives of 
section 6(b)(4) of the Act \4\ in particular in that it is designed to 
provide for the equitable allocation of reasonable dues, fees, and 
other charges among its members and issuers and other persons using its 
facilities.\5\ According to the Amex, these increases are necessary due 
to the increasing costs incurred in developing and implementing new 
technology for the fast and efficient trading of options.
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    \3\ 15 U.S.C. 78f(b).
    \4\ 15 U.S.C. 78f(b)(4).
    \5\ In approving this rule, the Commission has considered the 
proposed rule's impact on efficiency, competition, and capital 
formation. 15 U.S.c. 78c(f).
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    It is therefore ordered, pursuant to section 19(b)(2) of the 
Act,\6\ that the proposed rule change (SR-Amex-2001-98) be, and hereby 
is, approved.\7\

    \6\ 15 U.S.C. 78s(b)(2).
    \7\ 17 CFR 200.30-30(a)(12).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 02-285 Filed 1-7-02; 8:45 am]
BILLING CODE 8010-01-M